Held, that once there was no exempt income, no disallowance can be made in terms of section 14A read with rule 8D of the Rules. The Assessing Officer was directed to delete the disallowance made. (AY. 2012-13 to 2015-16).
Matrimony.Com Ltd. v. ACIT (2023)101 ITR 253 (Chennai)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-Absence of exempt income-Disallowance to be deleted. [R. 8D]