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2014 (1) TMI 338 - ITAT KOLKATADisallowance u/s 14A - Held that:- The assessee has not derived any dividend income - A perusal of the income expenditure account of the assessee clearly shows that the assessee does not have any income which does not form part of the total income - It is also noticed that the ld. CIT(A) has taken into consideration the fact that the investment in the shares of subsidiary company was only for the purpose of having control over the business affairs of the subsidiary company which was being maintained as subsidiary company for specific business purposes of the assessee - The assessee has also not incurred any interest expenditure attributable to the said investment in the shares - Provision of Section 14A read with Rule 8D does not apply to the assessee's case - Decided against revenue.
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