Held that where no exempt income is received or receivable during the relevant previous year no disallowance can be made. (AY. 2012-13)
PCIT v. Amadeus India (P.) Ltd. (2023) 290 Taxman 201 (Delhi)(HC)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income received during the year-Disallowance cannot be made. [R. 8D]