Held that the assessee did not earn any exempt income during the year under consideration. In the absence of exempt income, there was no case for making disallowance under section 14A of the Act. (AY. 2012-13)
DCIT v. East Coast Imports and Exports (2021) 91 ITR 6 (SN) (Vishakha)(Trib.)
S.14A : Disallowance of expenditure-Exempt income-No exempt income during year-No disallowance can be made. [R. 8D]