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2020 (10) TMI 358 - AT - Income TaxDisallowance u/s.14(A) - suomotu disallowance done by the assessee itself - HELD THAT:- CIT(A) has referred in the case of Joint Investment P. Ltd. [2015 (3) TMI 155 - DELHI HIGH COURT] correctly for the proposition that disallowance u/s. 14A cannot exceed the exempt income. In this view of the matter, as held that the disallowance in this case will not exceed the suomotu disallowance done by the assessee which was more than the exempt income. - Decided against revenue.
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