The assesse had not earned any exempt income during relevant assessment year no disallowances can be made. ( AY.2012-13)
Jayneer infrapower & Multiventures (P.) Ltd. v. DCIT (2019) 176 ITD 15/ 200 TTJ 179 (Mum.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income–Not earned any dividend income-No disallowance can be made. [R. 8D]