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2019 (2) TMI 1457 - BOMBAY HIGH COURTDisallowance u/s 14A - expenditure incurred by the assessee for earning exempt income - HELD THAT:- The assessee had not earned any exempt income during the year under consideration. The Tribunal, therefore, followed the decision of Delhi High Court in case of CIT Vs. Holcim India (Pvt.) Ltd. (2014 (9) TMI 434 - DELHI HIGH COURT) as ruled that when there is no exempt income earned by the assessee, no disallowance under Section 14A of the Act can be made.
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