https://www.taxtmi.com/caselaws?id=470303 Disallowance relating to exempt income is limited to the exempt income earned and cannot exceed that amount. The notes state that this conclusion favoured the assessee. For travelling and conveyance expenses, a 5% estimated disallowance was considered justified because supporting records were furnished, no specific defect in those records was identified, and the expenditure reflected a possible mix of business and personal use. The relief restricting both disallowances was sustained. en-us Wed, 19 Mar 2025 00:00:00 +0530 Wed, 22 Jul 2026 20:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470303 Disallowance relating to exempt income is limited to the exempt income earned and cannot exceed that amount. The notes state that this conclusion favoured the assessee. For travelling and conveyance expenses, a 5% estimated disallowance was considered justified because supporting records were furnished, no specific defect in those records was identified, and the expenditure reflected a possible mix of business and personal use. The relief restricting both disallowances was sustained. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470303