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Case Law Details

Case Name : CIT Vs Sociedade De Fomento Industrial Pvt. Ltd (Bombay High Court at Goa)
Related Assessment Year : 2009-10
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CIT Vs Sociedade De Fomento Industrial Pvt. Ltd (Bombay High Court)

Here, on facts, the Tribunal noted that the AO only discussed the provisions of section 14A(l) but has not justified how the expenditure the Assessee incurred during the relevant year related to the income not forming part of its total income. The AO, according to the Tribunal, straightaway applied Rule 8D. Indeed, there must be a proximate relationship between the expenditure and the tax-exempt income. Only then would a disallowance have to be effected. This Court, we may note, on more

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