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2017 (3) TMI 1042 - AT - Income TaxDisallowance of expenditure incurred towards the cess on green leaf from composite income - Held that:- Hon'ble Calcutta High Court in the case of CIT vs A.F.T. Industries Ltd reported in (2004 (7) TMI 81 - CALCUTTA High Court) wherein it was held that the same was to be fully allowed from the composite income. The issue decided by the order of the Hon'ble Calcutta High Court in the case of AFT Industries Ltd (supra) have been approved by the Hon'ble Apex Court in the case of M/s Apeejay Tea Co Ltd COMMISSIONER OF INCOME TAX Versus M/s APEEJAY TEA CO. LTD [2015 (8) TMI 1260 - SUPREME COURT] - Decided in favour of the assessee Addition u/s 14A - Held that:- No satisfaction as required under the provisions of section 14A of the Act for making the disallowance was recorded. Thus the additions made by the AO under the provisions of section 14A of the Act read with rule 8D of income tax rules are not sustainable. As such we find no infirmity in the order of ld CIT(A). Hence this ground of Revenue’s appeal is dismissed. Disallowances made u/s 14A while computing the book profit u/s 115JB - Held that:- The additions made by the AO under rule 8D read with section 14A of the Act has been deleted by our order vide Para-11 to 11.2 of this order. Therefore, the instant issue does not require any adjudication. Hence, the ground raised by Revenue is not maintainable and hence dismissed.
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