Dismissing the appeal of the revenue the Tribunal held that there was no exempt income earned by assessee during assessment year hence no disallowances can be made. (AY.2014-15)
ACIT v. Janak Global Resources (P.) Ltd. (2019) 175 ITD 365 (Chd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income–No exempt income during assessment year–No disallowance can be made .[ R.8D.