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2020 (2) TMI 1703 - AT - Income TaxDisallowance u/s 14A - assessee has suo motu disallowed amount - HELD THAT:- As disallowance of expenditure in terms of Section 14A r.w. Rule 8D cannot exceed the exempt income itself. No additional disallowance is called for under sec. 14A of the Act in excess of exempt income. The disallowance is thus required to be restricted to the extent of exempt income. See CORRTECH ENERGY PVT. LTD. [2014 (3) TMI 856 - GUJARAT HIGH COURT], M/S CHETTINAD LOGISTICS PVT. LTD. [2018 (7) TMI 567 - SC ORDER]
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