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2020 (2) TMI 17 - AT - Income TaxAddition u/s 14A - HELD THAT:- Maxopp Investment Ltd. Vs. CIT, New Delhi [2018 (3) TMI 805 - SUPREME COURT] had rightly concluded that the shares which were held by the assessee as stock-in-trade were to be considered for the purpose of computing the disallowance under Sec. 14A Adhoc disallowance had been preferred as against that worked out under Sec. 14A r.w. Rule 8D(2), having been rendered without considering the aforesaid judgment of the Hon’ble Apex Court in the case of Maxopp Investment Ltd. [2018 (3) TMI 805 - SUPREME COURT] would also not be binding. We thus finding no infirmity in the order of the CIT(A) who had rightly sustained the disallowance computed by the A.O under Sec. 14A r.w. Rule 8D(2)(iii), therein uphold the same. Appeal filed by the assessee is dismissed.
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