Held that since there was no exempt income earned in relevant assessment year, disallowance could not be made. (AY. 2013-14, 2014-15)
JCIT(OSD) v. Medha Servo Drives (P.) Ltd. (2021) 191 ITD 333 (Hyd.)(Trib.)/ACIT v. Claridges Hotels Pvt. Ltd. (2021)86 ITR 402 ( Delhi ) (Trib)
S. 14A : Disallowance of expenditure-Exempt income-No exempt earned in relevant assessment year-No disallowance can be made. [R. 8D]