https://www.taxtmi.com/caselaws?id=471379 Section 14A read with Rule 8D does not permit disallowance of interest or administrative expenditure where no exempt income is earned or received during the relevant previous year. Since the provision applies to expenditure incurred in relation to income not forming part of total income, a Rule 8D computation lacks a basis in the absence of exempt income. The operative effect is that no Section 14A disallowance is permissible for that year. en-us Mon, 11 Jan 2021 00:00:00 +0530 Tue, 01 Sep 2026 16:07:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471379 Section 14A read with Rule 8D does not permit disallowance of interest or administrative expenditure where no exempt income is earned or received during the relevant previous year. Since the provision applies to expenditure incurred in relation to income not forming part of total income, a Rule 8D computation lacks a basis in the absence of exempt income. The operative effect is that no Section 14A disallowance is permissible for that year. Case-Laws Income Tax Mon, 11 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471379