https://www.taxtmi.com/caselaws?id=800219 Section 14A read with Rule 8D does not permit disallowance of expenditure relating to exempt income where no exempt income was earned or received during the relevant year. Rule 8D prescribes the method for quantifying a disallowance only where Section 14A applies. The later explanation to Section 14A does not operate retrospectively to change this position for the relevant year. Accordingly, expenditure cannot be disallowed under Section 14A in the absence of exempt income. en-us Fri, 18 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800219 Section 14A read with Rule 8D does not permit disallowance of expenditure relating to exempt income where no exempt income was earned or received during the relevant year. Rule 8D prescribes the method for quantifying a disallowance only where Section 14A applies. The later explanation to Section 14A does not operate retrospectively to change this position for the relevant year. Accordingly, expenditure cannot be disallowed under Section 14A in the absence of exempt income. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800219