Held, that the Commissioner (Appeals) is right in holding that the provisions of section 14A of the Act are applicable and restricting the disallowance to the extent of dividend income earned by the assessee.(AY.2015-16)
Wealth First Portfolio Managers P. Ltd. v. Dy. CIT (2023)107 ITR 14 (SN)(Ahd)(Trib)
S.14A : Disallowance of expenditure-Exempt income-Investment held as stock-in-trade-Disallowance is restricted to exempt income. [R.8D]