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ACIT, Circle 9 (2) , New Delhi Versus Fortis Hospotals Ltd. C/o Escorts Heart Institute And Research Centre, Okhla, New Delhi

2018 (1) TMI 509 - ITAT DELHI

Disallowance u/s 14A r.w.Rule 8D - CIT-A deleted the addition - sufficiency of own funds - Held that:- As perused the relevant material on record and find that this issue stands settled in favour of assessee by the Hon’ble judicial High Court in the .....

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014 (9) TMI 434 - DELHI HIGH COURT] - Decided in favor of assessee. - ITA No. 5719/Del/2015 - Dated:- 29-11-2017 - SHRI R.S. SYAL, VICE PRESIDENT AND SMT. BEENA A PILLAI, JUDICIAL MEMBER For The Appellant : Shri Atiq Ahmad, Sr. D.R For The Respondent .....

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s of the case and in law, the ld.CIT(A) has erred in deleting the addition of ₹ 91,52,780/- made by the AO on account of disallowance u/s 14A r.w.Rule 8D of the Act. 2. The appellant craves leave to add, alter or amend any ground of appeal rais .....

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ion 143(2) along with questionnaire under section 142(1) of the Act was issued upon the assessee. On receipt of such notices representatives of assessee appeared and filed relevant details as called for by Ld. AO. 2.1. Ld.AO observed that assessee ha .....

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ad with Rule 8D. 2.3. Ld. CIT (A) deleted the addition by observing as under: The various High Courts have uniformly held that no disallowance u/s 14A can be made if there is no exempt income and in that context over ruled the decision of Special Ben .....

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this the addition made by the AO u/s 14A read with Rule 8D of the Income Tax Rules, 1962 is deleted and the AO is directed to modify the assessment order accordingly. 3. We have perused the relevant material on record and find that this issue stands .....

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