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Addlife Investments (P.) Ltd. v. DCIT (2021) 187 ITD 591 / 201 DTR 145 (Ahd.)(Trib.)

S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot exceed amount of exempt income. [R. 8D]

Tribunal held that disallowances  could not exceed amount of exempt income earned by assessee during year.  (AY.2014-15)