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Case Law Details

Case Name : Hyundai Motor India Ltd Vs ACIT (ITAT Chennai)
Appeal Number : ITAT No. 3192/Chny/2017
Date of Judgement/Order : 01/09/2021
Related Assessment Year : 2013-14
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Hyundai Motor India Ltd Vs ACIT (ITAT Chennai)

Conclusion: Disallowances u/s.14A could not exceed amount of exempt income, therefore, AO was directed to restrict disallowances u/s.14A to the extent of exempt income earned for the impugned assessment year.

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