https://www.taxtmi.com/caselaws?id=470681 Disallowance of expenditure under Section 14A read with Rule 8D applies only where the taxpayer earns exempt income during the relevant assessment year. Where no exempt income arises, no related expenditure can be disallowed under that mechanism. The explanatory insertion in Section 14A was treated as prospective and therefore did not apply to the assessment year concerned. The addition made under Section 14A read with Rule 8D was consequently deleted. en-us Tue, 25 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470681 Disallowance of expenditure under Section 14A read with Rule 8D applies only where the taxpayer earns exempt income during the relevant assessment year. Where no exempt income arises, no related expenditure can be disallowed under that mechanism. The explanatory insertion in Section 14A was treated as prospective and therefore did not apply to the assessment year concerned. The addition made under Section 14A read with Rule 8D was consequently deleted. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470681