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2016 (11) TMI 1681 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - disallowing the expenses relatable to exempted income - HELD THAT - Admittedly the only exempted income earned by assessee on account of dividend is Rs. 20, 000/-. As we find that this issue is covered in favour of assessee as far as restricting the disallowance to the extent of exempted income only and for this placing reliance on the case of Daga Global Chemicals Pvt. Ltd. 2015 (1) TMI 1204 - ITAT MUMBAI direct the AO to restrict the disallowance at Rs. 20, 000/- and hence this issue of the assessee s appeal is partly allowed.
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