https://www.taxtmi.com/caselaws?id=790039 Disallowance under Section 14A read with Rule 8D is confined to expenditure relating to exempt income and cannot exceed the exempt income earned during the year; the restriction of the disallowance to that amount was upheld. A further adjustment of the same disallowance to book profit under Section 115JB was not permitted because MAT computation can be modified only by the specific items in Explanation 1, and Section 14A disallowance cannot be imported absent express statutory authorisation. The Revenue's challenge failed, and the Commissioner (Appeals)'s order was sustained. en-us Mon, 23 Mar 2026 00:00:00 +0530 Fri, 17 Apr 2026 10:52:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790039 Disallowance under Section 14A read with Rule 8D is confined to expenditure relating to exempt income and cannot exceed the exempt income earned during the year; the restriction of the disallowance to that amount was upheld. A further adjustment of the same disallowance to book profit under Section 115JB was not permitted because MAT computation can be modified only by the specific items in Explanation 1, and Section 14A disallowance cannot be imported absent express statutory authorisation. The Revenue's challenge failed, and the Commissioner (Appeals)'s order was sustained. Case-Laws Income Tax Mon, 23 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790039