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2017 (6) TMI 486 - AT - Income TaxDisallowance under section 14-A - genuineness of the expenditure - Held that:- Considering Cheminvest Limited Versus Commissioner of Income Tax-VI [2015 (9) TMI 238 - DELHI HIGH COURT] assessee earned only exempted income in a sum of ₹ 1,75,063/- which is already added to the income of the assessee. Therefore, no further disallowance should be made on the matter in issue. We accordingly set aside the orders of the authorities below and delete the entire addition. In the result appeal of assessee is allowed and departmental appeal is dismissed. We may note that the assessee is at liberty to raise other contentions in other years as per law if so advised in accordance with law. These appeals have decided only on sole contention raised by Ld. Counsel for assessee as recorded in this order. With these observations, we allow the appeal of assessee and dismiss the departmental appeal.
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