Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad
8D of the Income Tax Rules, 1962 cannot exceed the exempt income i.e. Rs. 11,600/-. He accordingly restricted the disallowance to the extent of exempt income earned by the assessee. 46. Aggrieved, the Revenue is now in appeal before this Tribunal. Ld. D/R relied on the finding of ld. AO and ld. Counsel for the assessee supported the finding