Held that the voluntary disallowance surpasses the actual exempt income, no further disallowance under section 14A read with rule 8D of the Income-tax Rules, 1962.Disallowance is deleted. (AY. 2017-18)
Bhartiya International Ltd. v. Dy. CIT (2024)112 ITR 207/ 227 TTJ 897 (Delhi)(Trib)
S.14A : Disallowance of expenditure-Exempt income-Voluntary disallowance is exceeding actual exempt income-Disallowance is deleted. [R.8D]