https://www.taxtmi.com/caselaws?id=800726 Disallowance of expenditure relating to exempt income under Section 14A read with Rule 8D cannot exceed the exempt income earned. Where exempt income was 24,000 and an equivalent amount had already been voluntarily disallowed, no further disallowance was warranted. The Finance Act, 2022 amendment applied from Assessment Year 2022-23, effective 1 April 2022, and did not apply retrospectively to Assessment Year 2018-19. en-us Tue, 06 Oct 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800726 Disallowance of expenditure relating to exempt income under Section 14A read with Rule 8D cannot exceed the exempt income earned. Where exempt income was 24,000 and an equivalent amount had already been voluntarily disallowed, no further disallowance was warranted. The Finance Act, 2022 amendment applied from Assessment Year 2022-23, effective 1 April 2022, and did not apply retrospectively to Assessment Year 2018-19. Case-Laws Income Tax Tue, 06 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800726