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2020 (7) TMI 222 - HC - Income TaxDisallowance u/s 14A - disallow the expenditure incurred in relation to earning an income which is exempt from payment of tax - substantial question fo law or not? - as per tribunal since the assessee has only invested in private limited, un-listed companies and one of the companies in which the assessee has made investment is its own group concern addition made by the CIT (Appeals) is on the higher side and addition of Rs.Two Lakhs is just and reasonable amount towards disallowance u/s.14A - HELD THAT:- No substantial question of law in the present appeal under Section 260A of the Act. The extent of expenditure to be disallowed under Section 14A of the Act would naturally depend upon the income earned by the Assessee and spending that income and extent of exemption they have drawn. Since the Tribunal has discussed the relevant facts in paragraph 6 quoted above, we do not find any perversity in the order passed by the Tribunal and the disallowance made under Section 14A of the Act appears to be just and reasonable and therefore, we do not find any substantial question of law in the present appeal by the Revenue, which requires our further consideration under Section 260A of the Act. Accordingly, the present appeal is liable to be dismissed
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