Held that disallowance under section 14A should be restricted to the extent of exempt income earned during the previous year. (AY. 2016-17)
Parasmal Ravindra Kumar. v. ITO (2025) 213 ITD 276 (Chennai) (Trib.)
S.14A: Disallowance of expenditure-Exempt income-Disallowance cannot exceed the exempt income.[R.8D]
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