https://www.taxtmi.com/caselaws?id=464095 Disallowance under section 14A read with rule 8D cannot exceed the exempt income earned in the relevant year, so the excess amount was deleted and relief granted to the assessee. The Tribunal also held that the Finance Act, 2022 amendment to section 14A applies prospectively, not retrospectively, so it did not justify enlarging the disallowance for the year under review. en-us Mon, 20 Mar 2023 00:00:00 +0530 Sat, 04 Oct 2025 18:15:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464095 Disallowance under section 14A read with rule 8D cannot exceed the exempt income earned in the relevant year, so the excess amount was deleted and relief granted to the assessee. The Tribunal also held that the Finance Act, 2022 amendment to section 14A applies prospectively, not retrospectively, so it did not justify enlarging the disallowance for the year under review. Case-Laws Income Tax Mon, 20 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464095