Tribunal held that when suo moto disallowance made by the assessee is more than exempt income, no disallowance can be made. (AY. 2011-12)
Unitech Ltd. v. DCIT (2019) 176 ITD 266 (Delhi)(Trib.)
S. 14A : Disallowance of expenditure – Exempt income – Suo moto disallowance which is more than exempt income- No disallowance can be made. [R. 8D]