When there is no exempt income, no disallowance can be made. (AY. 2007-08 to 2010-11, 2012-13 and 2013-14)
CIT v. Tamilnadu Road Development Company Ltd. (2021)436 ITR 323 (Mad.)(HC)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income-Disallowance cannot be made. [R. 8D]