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2022 (9) TMI 376 - HC - Income TaxDisallowance u/s 14A - ITAT justification in deleting the addition being 10% of the exempt income - whether assessee has failed to prove that no expenditure has been incurred to earn the exempt income disclosed during the year under consideration? - HELD THAT:- Tribunal considering the facts of the case arrived at a finding that the direction given by the CIT (Appeals) to apply Rule 8D is not proper and there being the surplus funds invested by the assessee, no interest and administrative expenses can be disallowed under section 14A. In view of the decisions of this Court in case of Sintex Industries Ltd [2017 (5) TMI 1160 - GUJARAT HIGH COURT] and India Gelatine & Chemicals Ltd [2015 (11) TMI 392 - GUJARAT HIGH COURT] there is no illegal infirmity in the impugned order passed by the Tribunal while deleting the dis-allowance under section 14A - no question of law much less any substantial question of law proposed or otherwise arises from the impugned order of the Tribunal. The Appeal accordingly stands dismissed.
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