https://www.taxtmi.com/caselaws?id=314404 The Tribunal allowed the appeal, directing the AO to delete the voluntary disallowance of Rs. 33,62,493/- made by the assessee under Rule 8D(2)(iii). The Tribunal held that no disallowance under Sec. 14A could be made without exempt income, permitting assessed income to fall below the returned income. en-us Mon, 08 Mar 2021 00:00:00 +0530 Thu, 06 Jun 2024 20:09:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314404 The Tribunal allowed the appeal, directing the AO to delete the voluntary disallowance of Rs. 33,62,493/- made by the assessee under Rule 8D(2)(iii). The Tribunal held that no disallowance under Sec. 14A could be made without exempt income, permitting assessed income to fall below the returned income. Case-Laws Income Tax Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314404