https://www.taxtmi.com/caselaws?id=344215 Disallowance under section 14A read with rule 8D is confined to expenditure incurred in relation to exempt income and cannot exceed the exempt income actually earned. The assessee had earned exempt income and already accounted for it in its computation, so the Tribunal held that no further disallowance beyond that amount was justified. Applying Delhi High Court rulings on the scope of section 14A and rule 8D, the entire addition was deleted and the assessee succeeded on the sole issue. en-us Wed, 07 Jun 2017 00:00:00 +0530 Mon, 12 Jun 2017 08:55:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344215 Disallowance under section 14A read with rule 8D is confined to expenditure incurred in relation to exempt income and cannot exceed the exempt income actually earned. The assessee had earned exempt income and already accounted for it in its computation, so the Tribunal held that no further disallowance beyond that amount was justified. Applying Delhi High Court rulings on the scope of section 14A and rule 8D, the entire addition was deleted and the assessee succeeded on the sole issue. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344215