Disallowance u/s 14A cannot be made in absence of exempt income

DCIT  Vs Sarita Synthetics & Industries Ltd. (ITAT Visakhapatnam)

Conclusion: No disallowance u/s 14A was called for in case of no exempt income earned by assessee in the relevant assessment years.

Held:

In the instant case, assessee did not earn income which was exempt u/s 14A. AO made the addition placing reliance on the Please become a Premium member. If you are already a Premium member, login here to access the full content.