Section 14A will not apply if no exempt income

Advocate Akhilesh Kumar Sah McDonald’s India Pvt. Ltd. Vs Addl. CIT (ITAT Delhi) McDonald’s India case: Section 14A of the Income-tax Act, 1961 will not apply if no exempt income has been received or receivable during the  previous year in question Recently, before Delhi ITAT, McDonald’s India Pvt. Ltd. vs. Addl. CIT [ITA No.1426/Del/2014, A.Y.: 2009-10, decided on 30.01.2018], following grounds were raised, amongst others, in the appeal: That on the facts and circumstances of the case and in law, the Hon’ble DRP/ Ld. AO has erred in disallowing a sum of Rs. 1,59,...