Held that h the Commissioner (Appeals) was right in having restricting the disallowance under section 14A to the exempt income earned by the assessee during the year (AY.2012-13)
Dy. CIT v. PTC India Financial Services Ltd. (2023)104 ITR 1 (SN)(Delhi)(Trib)
S. 14A : Disallowance of expenditure-Exempt income-Disallowance is to be restricted to exempt income. [R. 8D(2)(iii)]