Dismissing the appeal of the revenue the Tribunal held that disallowance cannot be made in absence of exempt income. (AY. 2012-13, 2013-14)
DCIT v. Asian Grantio India Ltd. (2020) 182 ITD 441 (Ahd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Disallowance cannot be made in absence of exempt income. [S.10(34), R. 8D]