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2022 (12) TMI 538 - AT - Income TaxDisallowance u/s 14A in accordance with Rule 8D - Expenditure incurred on earning exempt income - HELD THAT:- No disallowance of expenditure could be made by the AO in the case of the assessee u/s 14A of the Act r.w.r. 8D of the Income-tax Rules, 1962 as no exempt income was earned by the assessee during the year under reference, i.e., AY 2015-16. CIT(A) has placed reliance on the judgement in the case of Cheminvest Ltd. [2015 (9) TMI 238 - DELHI HIGH COURT] which is binding on all the tax authorities including the Tribunal. Therefore, we are unable to see any ambiguity, perversity or any other valid reasons to interfere with the findings of the ld.CIT(A). The ground raised by the Revenue are dismissed.
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