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2018 (5) TMI 233 - ITAT MUMBAIDisallowance u/s 14A r.w. Rule 8D - Held that:- Regarding the disallowance made by the AO under Rule 8D(2)(i), it is found from the profit and loss account for the year ended 31.03.2012 of the assessee that the same relates to D-Mat charges. As this amount of expenditure is directly related to dividend income earned by the assessee, the same is confirmed. Disallowance made by the AO under Rule 8D(2)(ii) it is found that the partner’s capital account in the current year stands at ₹ 32,136,138/- whereas the investments were of ₹ 7,583,012/-. As the own fund in the instant case is more than the investments, we delete the disallowance made by the AO under Rule 8D(2)(ii). See HDFC Bank Ltd. vs. DCIT [2016 (3) TMI 755 - BOMBAY HIGH COURT]
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