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2021 (1) TMI 1040 - ITAT DLEHIDisallowance u/s. 14A read with Rule 8D - HELD THAT:- We find that the Hon'ble Delhi High Court in the case Cheminvest Ltd. vs. CIT [2015 (9) TMI 238 - DELHI HIGH COURT] has held that if there is no exempt income, there can be no question of making any disallowance u/s 14A. Similar view has been taken by the Hon'ble Delhi High Court in CIT vs. Holcim India P. Ltd. [ 2014 (9) TMI 434 - DELHI HIGH COURT]. The net effect of these decisions is that the disallowance u/s 14A gets restricted to the extent of exempt income, even if the provisions of the section are attracted. - Decided against revenue.
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