https://www.taxtmi.com/caselaws?id=296626 The Tribunal held that the disallowance under Rule 8D(2)(iii) cannot exceed the exempt income earned by the assessee. Therefore, the Tribunal deleted the disallowance made by the assessee and restricted it to the extent of the exempt income claimed by the assessee. The appeal was allowed, and the order was pronounced on 11th January 2021. en-us Mon, 11 Jan 2021 00:00:00 +0530 Fri, 30 Jul 2021 09:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296626 The Tribunal held that the disallowance under Rule 8D(2)(iii) cannot exceed the exempt income earned by the assessee. Therefore, the Tribunal deleted the disallowance made by the assessee and restricted it to the extent of the exempt income claimed by the assessee. The appeal was allowed, and the order was pronounced on 11th January 2021. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296626