Held, that in the assessee’s own case for the AY. 2009-10, it was held that in the absence of any exempt income, no disallowance could be made under section 14A. In the present case also, as the assessee had not earned any exempt income, the disallowance under section 14A read with rule 8D was not permissible. (AY. 2010-11, 2011-12).