Held that only those investments which yielded income shall be considered for the purpose of computing expenditure in relation to exempt income.(AY.2018-19)
EDC Ltd. v. Asst. CIT (2023)107 ITR 409 (Panaji) (Trib.)
S.14A : Disallowance of expenditure-Exempt income-Disallowance can be inly in respect of investments which yield exempt income [R.8D(2) (iii)]