ALKYL AMINES CHEMICALS LIMITED,NAVI MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-15(1)(1), MUMBAI

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ITA 1010/MUM/2025Status: DisposedITAT Mumbai25 March 2025AY 2017-18Bench: SHRI NARENDRA KUMAR BILLAIYA, HON'BLE (Accountant Member), MS. KAVITHA RAJAGOPAL, HON'BLE JUDICIAL MEMBER I.T.A. No. 1010/Mum/2025 Assessment Year: 2017-18 Alkyl Amines Chemical Limtied 401-407, Nirman Vyapar Kendra Plot No. 10, Sector 17 Vashi S.O., Thane Navi Mumbai - 400703 [PAN: AAACA6783F] Vs Assistant Commissioner of Income Tax – Circle 15(1)(1), Mumbai अपीलार्थी/ (Appellant) प्रत्यर्थी/ (Respondent) Assessee by: Shri Karan Jain, Shri Suraj Singh Devda, A/R Revenue by: Shri Ram Krishn1 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that Section 14A of the Act cannot be invoked when no exempt income was earned by the assessee. The additions made by the AO were directed to be deleted.

What were the facts?

The assessee preferred an appeal against the order confirming the disallowance made by the AO under Section 14A r.w.r. 8D. The undisputed fact is that the assessee earned no exempt income during the year under consideration.

What were the issues?

Whether Section 14A r.w.r 8D is applicable when the assessee has not earned any exempt income in the relevant assessment year.

Which sections of the Income-tax Act were involved?

Section 14A,Section 8D,Section 143(3)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & MS. KAVITHA RAJAGOPAL, HON’BLE

For Appellant: Shri Karan Jain & Shri Suraj Singh Devda, A/R
Hearing: 25/03/2025Pronounced: 25/03/2025

O R D E R

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