It is an undisputed fact that during the year the assessee did not earn any exempt income. The Hon’ble High Court of Delhi in the case of CHEM Invest Pvt. Ltd. Vs. CIT (supra) has clearly held that if there is no exempt income no disallowance can be made.- ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-23.03_03-1.odt” comments=”true” SVG=”true”] To Download the complete order, 387 Del 2018...