Tribunal held that where no finding at all had been recorded by AO as to incurrence of any expenditure by assessee for earning exempt income, no disallowance is called for. (AY. 2009-10)
ACIT v. Crompton Greaves Ltd ( 2019) 75 ITR 17 ( SN )/ (2020) 181 ITD 40 / 203 TTJ 94(Mum.) (Trib.)
S. 14A : Disallowance of expenditure-Exempt income–Not recording of satisfaction-No disallowance can be made. [R. 8D]