Asstt. Cit vs Shivalik Woollen Mills (P) Ltd. on 26 June, 2003
); and the decision of the Allahabad High Court
in the case of CIT Vs. Shivam Motors (P) Ltd. (2015) 55 taxmann.com
262/230 Taxman 63 (All.) and observed that there is uniformity in the view
that in case there is no exempt income claimed by the assessee in the return
of income, no disallowance can be made by the Revenue.