Dismissing the appeal of the revenue the Court held that that since no exempt income had accrued to the assessee the provisions of section 14A did not apply. (AY.2010-11)
PCIT v. Novell Software Development (India) Pvt. Ltd. (2021)434 ITR 154 / 202 DTR 370 / 278 Taxman 390/ 321 CTR 458 (Karn.)(HC)
S. 14A : Disallowance of expenditure-Exempt income-No exempt income received-Provision is not applicable. [R. 8D]