https://www.taxtmi.com/caselaws?id=798003 Section 14A read with Rule 8D did not permit expenditure disallowance for Assessment Year 2017-18 where no dividend or other exempt income was earned. The amendment extending disallowance to situations without exempt income applies prospectively from Assessment Year 2022-23 and does not govern earlier assessment years. Accordingly, no Section 14A disallowance could be made in the absence of exempt income, and the disallowance was deleted. en-us Wed, 05 Aug 2026 00:00:00 +0530 Tue, 01 Sep 2026 08:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798003 Section 14A read with Rule 8D did not permit expenditure disallowance for Assessment Year 2017-18 where no dividend or other exempt income was earned. The amendment extending disallowance to situations without exempt income applies prospectively from Assessment Year 2022-23 and does not govern earlier assessment years. Accordingly, no Section 14A disallowance could be made in the absence of exempt income, and the disallowance was deleted. Case-Laws Income Tax Wed, 05 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798003