https://www.taxtmi.com/caselaws?id=467840 Section 14A disallowance was restricted to the exempt dividend income actually earned, applying the jurisdictional rule that such disallowance cannot exceed the exempt income. Advances made in the course of business to employees and drivers, having become irrecoverable and not being disputed on that score, were treated as a business loss rather than a bad debt claim, and the addition was deleted. The Revenue's challenge failed on both issues, and the relief granted to the assessee was affirmed. en-us Mon, 25 Oct 2021 00:00:00 +0530 Mon, 06 Apr 2026 16:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467840 Section 14A disallowance was restricted to the exempt dividend income actually earned, applying the jurisdictional rule that such disallowance cannot exceed the exempt income. Advances made in the course of business to employees and drivers, having become irrecoverable and not being disputed on that score, were treated as a business loss rather than a bad debt claim, and the addition was deleted. The Revenue's challenge failed on both issues, and the relief granted to the assessee was affirmed. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467840