https://www.taxtmi.com/caselaws?id=472214 Disallowance under section 14A read with Rule 8D is restricted to the exempt income earned during the relevant assessment year. Expenditure disallowed under this mechanism cannot exceed that exempt income; any computed excess is unsustainable. The restriction operates in favour of the assessee where the Rule 8D calculation produces a higher disallowance. en-us Tue, 22 Apr 2025 00:00:00 +0530 Sun, 04 Oct 2026 18:35:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472214 Disallowance under section 14A read with Rule 8D is restricted to the exempt income earned during the relevant assessment year. Expenditure disallowed under this mechanism cannot exceed that exempt income; any computed excess is unsustainable. The restriction operates in favour of the assessee where the Rule 8D calculation produces a higher disallowance. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472214