2013 (11) TMI 529

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Full Text of the Document

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....e under Section 260A of the Income Tax Act, 1961 has to be dismissed for multifarious reasons. The assessee had earned exempt dividend income of Rs.1,96,57,658/-. The respondent- assessee had themselves disallowed Rs.17,26,027/- as expenditure incurred on earning of exempt income under Section 14A of the Act. The Assessing Officer did not record any finding that the said disallowance was low or no....