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2021 (9) TMI 464 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D -submission of no exempt income earned - HELD THAT:- As relying on assessee's own case [2021 (2) TMI 848 - ITAT MUMBAI] there is no exempt income there cannot be any disallowance - we direct the Assessing Officer to delete the disallowance made u/s. 14A - Decided in favour of assessee. TP Adjustment - assessee had remitted funds to its A.E by way of share application money and loan - TPO treated the aforesaid amount as interest free loan, on the ground that in a third party scenario, the assessee would not have invested in the shares of an unrelated party at such a huge premium and also no shares were allotted - HELD THAT:- As decided in own case [2019 (10) TMI 987 - ITAT MUMBAI]wherein for the reasons stated therein the issue has been decided in favour of the assessee and against the Revenue.
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