Held that the assessee had not earned any exempt income. Therefore, no disallowance under section 14A read with rule 8D of the Income-tax Rules, 1962, could be made in absence of any exempt income earned during the year.(AY. 2010-11)
ACIT v. Uniparts India Ltd(2023) 150 taxmann.com 142 / (2024)115 ITR 473 (Delhi)(Trib)
S.14A : Disallowance of expenditure-Exempt income-No exempt income-Disallowance cannot be made. [R. 8D