Held, that since the assessee had earned exempt dividend income of Rs.2,48,167, the Commissioner (Appeals) was right in restricting the disallowance to that extent. (AY. 2013-14)
ACIT v. Silver Jubilee Motors Ltd. (2022) 94 ITR 19 (Trib) (SN) (Pune)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income [R.8D]