The tribunal held that the assessee has not incurred any expenditure for earning dividend income . Disallowance is deleted . ( AY. 2016-17 , 2017-18 )
Canara Bank v. DCIT (2024) 204 ITD 358 ( Bang )(Trib)
S.14A: Disallowance of expenditure – Exempt income – No expenditure is incurred for earning dividend income – Disallowance is not justified . [ R. 8D ]