In absence of exempt income, Section 14A disallowance cannot be added to Section 115JB book profits

Disallowance of Rs 2,00,225 under section 115JB on the ground that this amount pertains to disallowance under section 14A – Learned counsel for the assessee has invited our attention to Hon’ble Delhi High Court’s decision in the case of CIT Vs Holcim India Pvt Ltd [ 2014 TIOL 1586 HC DEL IT] wherein it is held that unless there is an exempt income, disallowance under section 14A cannot be invoked. When, however, it was pointed out to him that this decision is in respect of disallowance under section 14A on merits but when the challenged is not made to such a disallowance under sectio...