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2018 (10) TMI 919 - AT - Income TaxAddition invoking the provisions of Section 14A r.w.r.8D - Held that:- As held in STHITHI INSURANCE SERVICES PVT. LTD. AND VICE-VERSA [2018 (6) TMI 1538 - ITAT CHENNAI] application of Rule 8D is not automatic. If the assessee computes to the satisfaction of the Ld.Revenue Authorities the expenses incurred by it with respect to investments earning exempt dividend then the same should be disallowed. Only when such computation is not possible Rule 8D should be applied for computing the disallowance U/s.14A of the Act. Since we have already decided the issue with respect to computation of disallowance U/s.14A r.w.r. 8D of the Rules in the decision cited supra, we remit back the matter to the file of Ld.AO to compute the disallowance U/s.14A of the Act in the similar manner. - Decided in favour of assessee for statistical purposes
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