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2022 (2) TMI 1264 - SCH - Income TaxDisallowance u/s 14A r.w.r. 8D - investment in the form of share application money by the company would only result in exempt income - as per HC only expenses proportionate to earning of exempt income could be disallowed under Section 14A of the Act and the decision of MAXOPP INVESTMENT LTD [2018 (3) TMI 805 - SUPREME COURT] is an authority for the aforesaid proposition that the provision is relatable to earning of actual income - HELD THAT:- ORDER - Issue notice.
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