DY CIT CC-1(4), MUMBAI vs. M/S. MARINE DRIVE HOSPITALITY & REALTY P. LTD., MUMBAI

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ITA 70/MUM/2021Status: DisposedITAT Mumbai03 November 2021AY 2013-1414 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s decision, agreeing that Section 14A disallowance is only applicable when there is actual receipt of exempt income. The revenue's appeal was dismissed as they could not provide contrary evidence.

What were the facts?

The Assessing Officer (AO) disallowed expenses under Section 14A, treating it as pre-operative expenditure pending capitalization, even though the assessee claimed no exempt income was earned. The CIT(A) deleted this disallowance, holding that Section 14A is not applicable if no exempt income is received or receivable.

What were the issues?

Whether disallowance under Section 14A is permissible when the assessee has not earned any exempt income during the relevant financial year.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(7)Show list

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Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

Before: SHRI M BALAGANESH & SHRI PAVAN KUMAR GADALE&

For Appellant: Shri. Suresh Parisamy. DR
For Respondent: Ms. Hema Kataria. AR
Hearing: 09.11.2021Pronounced: 12.11.2021

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. संबं�धत आयकर आयु�त / The CIT(A) 3. 4. आयकर आयु�त(अपील) / Concerned CIT �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, अहमदाबाद / DR, ITAT, Mumbai 5. 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER, स�या�पत ��त //True Copy// & 71/Mum/2021 M/s Marine Drive Hospitality & Realty Pvt Ltd, Mumbai - 14 -

1.

( Asst. Registrar) ITAT, Mumbai

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