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2024 (4) TMI 345 - ITAT DELHIDisallowance u/s. 14A r.w. Rule 8D - expenditure related to the earning of exempted income - investment made in securities - as argued no direct or indirect expenditure in relation to investment in securities has been claimed or debited in the Profit and Loss Account by the appellant - HELD THAT:- As decided in assessee own case [2015 (3) TMI 1334 - ITAT DELHI] the expenditure related to the earning of exempted income like STT and brokerage were shown in the withdrawals. The assessee is also having personal drawings for the year under consideration. All these facts show that the assessee is not debiting the expenditure related to the exempted income in its Income & Expenditure account and the revenue has failed to pinpoint any specific instance in this regard. Therefore, as following the same we allow this ground of assessee’s appeal.
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