The CBDT has issued Circular No. 5 of 2014 dated 11.02.2014 in which the issue as to whether disallowance under section 14A and Rule 8D can be made in cases where the corresponding exempt income has not been earned during the financial year has been considered in great detail.
The file is attached for your ready refrence.
Attached File : 537142 1285897 cbdt circular 14a.pdf downloaded: 2216 times
CAclubindia
