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Dy. CIT v. Mahendra Brothers Exports Pvt. Ltd. (2022) 99 ITR 537 (Mum)(Trib)

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

Held that disallowance cannot exceed exempt income. (AY. 2009-10 to 2012-13)