VOSS AUTOMOTIVE INDIA PVT.LTD,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 13, PUNE

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ITA 862/PUN/2019Status: DisposedITAT Pune07 July 2022AY 2011-123 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 applies only in relation to exempt income. Since no exempt income was earned, the disallowance was deleted.

What were the facts?

The assessee challenged a disallowance of Rs. 4,61,003/- made under Section 14A. The assessee had not derived any exempt income in the relevant assessment year.

What were the issues?

Whether disallowance under Section 14A is permissible when no exempt income has been earned by the assessee.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

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Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI S.S. GODARA & DR. DIPAK P. RIPOTE

For Appellant: Shri Abhay Avachat
For Respondent: Shri M.G. Jasnani

Assessee by Shri Abhay Avachat Revenue by Shri M.G. Jasnani Date of hearing 04-07-2022 Date of pronouncement 07-07-2022 आदेश / ORDER

PER S.S. GODARA, JM :

1.

This assessee‟s appeal for AY 2011-12 arises against the CIT(A)-7, Pune‟s order dated 05-03-2019 passed in case No. PN/CIT(A)-7/DCIT-5(2)/10599/2014-15 involving proceedings under Section 143(3) of the Income Tax Act, 1961, in short „the Act‟.

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