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2020 (11) TMI 705 - HC - Income TaxDisallowance u/s 14A r.w.r. 8D - HELD THAT:- Appeal is disposed of by remitting the matter back to the Assessing Officer for deciding the issue regarding disallowance under Section 14A as relying on M/s. Marg Limited [2020 (10) TMI 102 - MADRAS HIGH COURT] wherein held that the disallowance under Rule 8D of the IT Rules read with Section 14A of the Act can never exceed the exempted income earned by the Assessee during the particular assessment year and further, without recording the satisfaction by the Assessing Authority that the apportionment of such disallowable expenditure made by the Assessee with respect to the exempted income is not acceptable for reasons to be assigned the Assessing Authority, he cannot resort to the computation method under Rule 8D.
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