JINDAL SAW LTD.,NEW DELHI vs. DCIT, CIRCLE- 13(2), NEW DELHI

ITA 2747/DEL/2018Status: DisposedITAT Delhi13 July 2026AY 2012-1315 pages
AI SummaryPartly Allowed

What were the facts?

The appeals concerned disallowances under Section 14A, corporate guarantee adjustments, leave encashment provisions, sale of carbon credits, government grants, and interest income. The assessee and revenue filed cross-appeals.

What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeals regarding Section 14A disallowance and corporate guarantee adjustments. It allowed the assessee's claim for carbon credits and government grants as capital receipts. Leave encashment provisions were disallowed, and interest income was to be re-examined.

What were the issues?

Whether Section 14A disallowance is warranted when exempt income is negligible and disallowance exceeds it. Whether incentives received under schemes promoting employment are capital or revenue receipts.

Which sections of the Income-tax Act were involved?

Section 14A,Section 8D,Section 43B(f),Section 115JB,Section 115BBG

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘I’, NEW DELHI

Before: SHRI SATBEER SINGH GODARA & SHRI MANISH AGARWAL

For Appellant: Adv. Sh. Saksham Singhal, Adv
Hearing: 25.05.2026Pronounced: 13.07.2026

Heard together (2 matters)

ITA No. 2747/Del/2018
ITA No. 2748/Del/2018

Read from the judgment's own cause title. This page is filed under one of them.

The instant batch of five cases involves the single assessee herein namely, M/s Jindal Saw Limited. The Revenue’s twin appeals ITA No. 2383 & 2384/ Del

The order continues below.

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