Dismissing the appeal of the revenue the Tribunal held that when the assessee had not earned any exempt income during year, no disallowance can be made. (AY. 2013-14, 2014-15)
DCIT v. Cornerstone Property Investment (P.) Ltd. (2020) 185 ITD 202 (Bang.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income-No disallowance can be made.[R. 8D]