Tribunal held that since the assessee had not earned any exempt income during relevant year, no disallowance could be made. (AY. 2009-10)
Alpex International (P.) Ltd. v. ACIT (2020) 180 ITD 844 (Mum.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income–Not earned any exempt income – No disallowances can be made. [R. 8D]