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2021 (7) TMI 981 - AT - Income TaxDisallowance u/s 14A - HELD THAT:- We find that during the year, no exempted income was received by the assessee and therefore, following the finding of case of Cheminvest Ltd.[2015 (9) TMI 238 - DELHI HIGH COURT]the Ld. CIT(A) deleted the disallowance. In our opinion, there is no infirmity in the order of the Ld. CIT(A) on the issue in dispute and accordingly we uphold the same. The ground of the appeal of the Revenue is accordingly dismissed. Prior period expenses disallowance - CIT(A) has allowed relief in respect of expenses of store and spares and expenses in respect of the contract holding that same were crystallised in the year under consideration - assessee has demonstrated that liability has been crystallised in the year under consideration and therefore, the Learned CIT(A) is justified in deleting the disallowance - HELD THAT:- We uphold the finding of the Learned CIT(A) on the issue in dispute. The grounds of the appeal of the Revenue are dismissed.
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