Dismissing the appeal of the revenue the Court held that in the absence of dividend income no disallowance can be made . (AY. 2012-2013)
CIT v. Shri Parameshwari Spinning Mills P. Ltd. (2020) 317 CTR 898 (Pat) (HC)
S .14A : Disallowance of expenditure – Exempt income – In the absence of dividend income – No disallowance can be made [ R.8D ]