Tribunal held that, when no income exempt from tax received in relevant previous year, disallowance cannot be made .( AY.2013-14, 2014-15)
Dy. CIT v. Coffee Day Global Ltd. (2020) 79 ITR 322 (Bang) (Trib)
S. 14A : Disallowance of expenditure – Exempt income – No income exempt from tax received in relevant previous year —Disallowance cannot be made .[ R.8D(2)(iii) ]