Auchtel Products Ltd vs. ACIT (ITAT Mumbai)
In AY 2008-09, the assessee claimed that it had not incurred any expenditure in earning dividend income and no disallowance u/s 14A could be made. However, the AO computed disallowance u/s14A & Rule 8D of Rs.12.81 lakhs. This was upheld by the CIT (A). On appeal to the Tribunal, HELD:
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