Held that there was no exempt income earned by it during relevant assessment years hence no disallowance can be made. (AY. 2012-13 2013-14)
PCIT (Cent.) v. R.M. Commercial (P.) Ltd. (2022) 287 Taxman 194 / 113 CCH 348 (Cal.)(HC)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income earned during relevant year-No disallowance can be made [R. 8D].