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2018 (2) TMI 164 - ITAT DELHIDisallowance u/s 14A - Held that:- As observed from the assessee’s Profit & Loss Account that there is only one item of expenditure of ₹ 6,230/- which has been booked in the accounts and there is no exempt income earned by the assessee. We find that the question of disallowance u/s 14A when there is no exempt income is no more res integra in view of the judgment in the case Cheminvest Ltd. vs. CIT (2015 (9) TMI 238 - DELHI HIGH COURT), wherein it has been held that if there is no exempt income, there can be no question of making any disallowance u/s 14A. - Decided in favour of assessee.
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