https://www.taxtmi.com/caselaws?id=281546 Expenditure disallowance under section 14A read with Rule 8D(2)(iii) was considered in relation to exempt dividend income, and the Tribunal applied the principle that such disallowance is confined to expenditure relatable to the exempt income actually earned. Where the assessee had already made a suo motu disallowance and the computation was enhanced by including investments, the disallowance was directed to be restricted to the amount of exempt income received. The operative effect is that section 14A cannot be used to make a disallowance exceeding the exempt income itself. en-us Fri, 01 Jun 2018 00:00:00 +0530 Mon, 24 Jun 2019 20:04:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281546 Expenditure disallowance under section 14A read with Rule 8D(2)(iii) was considered in relation to exempt dividend income, and the Tribunal applied the principle that such disallowance is confined to expenditure relatable to the exempt income actually earned. Where the assessee had already made a suo motu disallowance and the computation was enhanced by including investments, the disallowance was directed to be restricted to the amount of exempt income received. The operative effect is that section 14A cannot be used to make a disallowance exceeding the exempt income itself. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281546