No exempt income, No disallowance u/s 14A & Rule 8D: SC

PCIT Tax Vs M/s. Oil Industry Development Board (Supreme Court) Hon’ble supreme court held that in the absence of any exempt income, disallowance under Section 14-A of the Act of any amount was not permissible. FULL TEXT OF THE SUPREME COURT JUDGEMENT Delay condoned. In view of the decision of this Court in Commissioner of Income Tax 5, Mumbai vs. Essar Teleholdings Ltd. through its  Manager (2018) 3 SCC 253, we see no reason to entertain this special leave petition under Article 136 of the Constitution of India. The special leave petition is, accordingly, dismissed. Pending applicat...