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2020 (8) TMI 269 - AT - Income TaxDisallowance u/s. 14A - assessee has not earned any exempt income during the year - HELD THAT:- It is undisputed fact that the assessee has not earned any exempt income during the year and therefore, no additional disallowance u/s 14A could be made by revenue authorities. The said position is well-settled by catena of binding decisions. The Hon’ble Bombay High Court in its recent decision of Pr. CIT Vs. Huntsman International (India) Pvt.Ltd. [2019 (2) TMI 1457 - BOMBAY HIGH COURT] hold that where there is no exempt income earned by the assessee, no disallowance u/s 14A could be made. - Decided in favour of assessee.
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