S. 14A disallowance can be made even if there is no exempt income

ITAT MUMBAI BENCH ‘K’ Stream International Services (P.) Ltd. versus Assistant Director of Income-tax (International Taxation) IT Appeal No. 8997 (Mum.) of 2010 [ASSESSMENT YEAR 2006-07] JANUARY  11, 2013 ORDER R.S. Syal, Accountant Member This appeal by the assessee emanates from the order passed by the Assessing Officer u/s 143(3) read with section 144C of the Act on 14.10.2010 in relation to the assessment year 2006-2007. 2. The first ground is against the confirmation of disallowance u/s 14A to the tune of Rs. 16,55,850. Briefly stated the facts of the case ...