Tribunal held that where there is no exempt income earned by assessee, no disallowance under section 14A shall be made. Tribunal also held that no addition of disallowance under section 14A is called for while computing income under section 115JB. (AY. 2011-12)
Vivimed Labs Ltd. v. DCIT (2021) 187 ITD 665 (Hyd.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-No disallowance can be made when exempt income earned during the year-No addition of disallowance under section 14A is called for while computing income under section 115JB of the Act. [S. 115JB, R. 8D]