Dismissing the appeal of the revenue, when there is no exempt income shown during the year, no disallowance can be made. ( AY.2008 -09)
CIT v. DLF Home Developers Ltd. (2019) 411 ITR 378/(2020) 188 DTR 151 (Delhi)(HC)
S. 14A : Disallowance of expenditure – Exempt income – When there is no exempt income shown during the year – No disallowance can be made. [R. 8D]