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2017 (2) TMI 1536 - AT - Income TaxDisallowance u/s 14A - AO computed the disallowance in both the years u/r. 8D(2)(iii) of the I.T. Rules at 0.5% of average value of investment - CIT(A) took the view that investments made by the assessee are in the form of strategic investments and accordingly directed AO to compute the disallowance at 5% of the fixed/semi variable expenditure incurred by the assessee - HELD THAT:- As counsel submitted that AO had made identical disallowance in A.Y. 2009-10 also, which was reduced to 5% of the fixed/semi variable expenses by the order passed by the learned CIT(A). Revenue took the matter to the Tribunal and the Tribunal [2014 (11) TMI 1274 - ITAT MUMBAI] has confirmed the order passed by the learned CIT(A) and accordingly dismissed the appeal filed by the Revenue. AR submitted that the learned CIT(A) has followed its own order passed in A.Y. 2009-10 in the years under consideration also. DR did not controvert the factual aspects presented by learned AR In view of consistent with the view taken by the coordinate Bench of the Tribunal in A.Y. 2009-10, we confirm the order passed by the learned CIT(A) in the years under consideration also.
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