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2019 (1) TMI 265 - ITAT CHANDIGARHAddition u/s 14A r.w.r.8D - Held that:- CIT(A) has deleted the additions made by the Assessing officer u/s 14A of the Act on the ground that the assessee did not earn any exempt income during the year under consideration. The issue is squarely covered in favour of the assessee by various decisions of the Hon'ble High Courts including case of ‘CIT Vs. Winsome Textiles’ [2009 (8) TMI 220 - PUNJAB AND HARYANA HIGH COURT] and ‘Cheminvest Ltd Vs. ITO’ [2015 (9) TMI 238 - DELHI HIGH COURT] wherein held no disallowance is attracted u/s 14A in case the assessee has not earned any income not forming part of the total income.- Decided in favour of the assessee Addition of the interest expenditure u/s 36(i)(iii) - interest free advances - Held that:- In the earlier assessment year 2012-13 which has been decided by this Tribunal in the own case wherein, the Tribunal after considering the rival submissions of the parties has decided the issue in favour of the assessee by holding that assessee was possessed of sufficient own funds to meet the investment / interest free advances made. The Tribunal while allowing this issue in favour of the assessee has relied upon the decision in the case of ‘Reliance Utilities and Power Ltd.’ [2009 (1) TMI 4 - BOMBAY HIGH COURT] and ‘Bright Enterprise Pvt Ltd. Vs. CIT’ [2015 (11) TMI 342 - PUNJAB & HARYANA HIGH COURT] - decided in favour of the assessee
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