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2016 (12) TMI 1399 - ITAT VISAKHAPATNAMDisallowance u/s 14A - Held that:- Following the decision of Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT (2015 (9) TMI 238 - DELHI HIGH COURT ), we are of the view that no disallowance can be made u/s 14A of the Act, when there is no exempt income received or receivable during the relevant assessment year. Therefore, we direct the A.O. to delete additions made towards disallowance of interest under the provisions of section 14A of the Act. - Decided in favour of assessee
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