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Section 14A Disallowance: Expenditure on Investment Activities Non-Deductible u/r 8D(2)(iii) of Income Tax Rules.
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....Disallowance u/s 14A - the expenditure relatable to making the investment and taking steps for its redemption and reinvestment involved an element of expenditure and in view of the provisions of Rule 8D(2)(iii) of the Rules, such expenditure is disallowable in the hands of the assessee. - AT....