INDORIGIN ELECTRIC LTD,WADALA MUMBAI vs. ACIT CENTRAL CIRCLE 4 4 MUMBAI , MUMBAI

ITA 4682/MUM/2025Status: DisposedITAT Mumbai10 February 2026AY 2014-15Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal directed the AO to restrict the disallowance under Section 14A to the amount of exempt income, following a High Court decision. Regarding capital gains, the Tribunal restored the issue to the AO for de novo adjudication after examining the submitted documents, setting aside the impugned order on this ground.

What were the facts?

The assessee, engaged in manufacturing and trading of industrial and electrical products, filed its return declaring income. The Assessing Officer (AO) disallowed expenses under Section 14A read with Rule 8D, which was upheld by the CIT(A). For capital gains, the AO disallowed certain expenses claimed as cost of improvement, which was partly allowed by the CIT(A).

What were the issues?

Disallowance of expenses under Section 14A and computation of long-term capital gains.

Which sections of the Income-tax Act were involved?

Section 14A,Section 10(34),Section 143(2),Section 142(1),Section 143(3),Section 55

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI VIKRAM SINGH YADAVSHRI SANDEEP SINGH KARHAIL

For Appellant: Shri Kalpesh Turalkar, Adv
For Respondent: Shri Virabhadra Mahajan, Sr. DR

PER SANDEEP SINGH KARHAIL, J.M. The assessee has filed the present appeal against the impugned order dated 30/05/2025, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Additional/Joint Commissioner of Income Tax (Appeals)-1, Visakhapatnam, [“learned Addl./Joint CIT(A)”], for the assessment year 2014-15. 2. Ground No.1, raised in the assessee’s appeal, pertains to the disallowance under section 14A of the Act. 2

3.

The brief facts of the case are that the assessee is engaged in the manufacturing and trading of industrial and electrical products. For

The order continues below.

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