You have to prevent automatic evaluation, which is not very easy. Here is a sequence of steps that may do what you have in mind:
HoldForm[(6^40)/(6^20)] == HoldForm[a^b/a^c]
%[[2]] == ReleaseHold[%[[2]]]
%[[2]] == (Inactivate[Evaluate[%[[2]]]] /. {a -> 6, b -> 40,
c -> 20})
%[[2]] == Activate[Evaluate[%[[2]]], Plus | Times]