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| The Tax Publishers2021 TaxPub(DT) 2732 (Del-Trib) : (2021) 087 ITR (Trib) 0371 INCOME TAX ACT, 1961
Section 14A
In the absence of exempt income earned during the year, no disallowance could be made under section 14A.
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Disallowance under section 14A - Expenditure against exempt income - No exempt income earned by assessee during the year -
Assessee challenged disallowance made by AO under section 14A on the ground that assessee had earned no exempt income during the year. Held: In the absence of exempt income earned during the year, no disallowance could be made under section 14A.
Followed:Cheminvest Ltd. (2009)121 ITD 318 (Del-Trib) : 2009 TaxPub(DT) 1964 (Del-Trib) and Corrtech Energy (P) Ltd. (2014) 372 ITR 97 (Guj-HC) : 2014 TaxPub(DT) 2072 (Guj-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
INCOME TAX ACT, 1961
Section 92B
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