https://www.taxtmi.com/caselaws?id=783690 Whether disallowance under s.14A r.w. r.8D can exceed the exempt income earned was the dominant issue. Relying on its precedent that s.14A disallowance must be capped at the amount of exempt income, the HC affirmed the Tribunal's restriction of the disallowance to the exempt income of ?50,000 for the relevant AY. On the applicability of the Finance Act, 2022 amendment to s.14A, the HC held it to be prospective as per binding authority and, since the appeal related to AY 2011-12, the amendment was inapplicable; consequently, the Tribunal's approach stood confirmed. en-us Fri, 12 Dec 2025 00:00:00 +0530 Sat, 20 Dec 2025 07:45:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783690 Whether disallowance under s.14A r.w. r.8D can exceed the exempt income earned was the dominant issue. Relying on its precedent that s.14A disallowance must be capped at the amount of exempt income, the HC affirmed the Tribunal's restriction of the disallowance to the exempt income of ?50,000 for the relevant AY. On the applicability of the Finance Act, 2022 amendment to s.14A, the HC held it to be prospective as per binding authority and, since the appeal related to AY 2011-12, the amendment was inapplicable; consequently, the Tribunal's approach stood confirmed. Case-Laws Income Tax Fri, 12 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783690