Court held that the Tribunal was right in holding that the provisions of section 14A read with rule 8D would have no applicability if there was no exempt income received. (AY. 2011-12)
CIT v. Celebrity Fashion Ltd. (2020) 428 ITR 470 (Mad.)(HC)
S. 14A : Disallowance of expenditure-Exempt income-Non taxable income. [R. 8D]