SAGAR AGENCIES PVT.LTD.,AHMEDABAD vs. THE ACIT.,(OSD)CIRCLE-8, AHMEDABAD

ITA 493/AHD/2012Status: DisposedITAT Ahmedabad28 September 2017AY 2008-094 pages
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What did the Tribunal hold?

The Tribunal upheld the disallowance under Section 14A. The issue regarding sales tax incentives was restored to the Assessing Officer for fresh adjudication. The Revenue's appeal was dismissed due to low tax effect.

What were the facts?

The assessee appealed against disallowances under Section 14A and claims under Section 80IA. The Revenue also appealed against certain other disallowances. The assessee claimed that sales tax incentives received were capital receipts.

What were the issues?

Whether sales tax incentives are profits derived from an eligible undertaking for Section 80IA deduction and whether they are capital receipts. Applicability of Section 14A disallowance.

Which sections of the Income-tax Act were involved?

Section 14A,Section 8D,Section 80IA,Section 41(1)

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Cases cited in this judgment(4)Show list

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Income Tax Appellate Tribunal, AHMEDABAD “B” BENCH AHMEDABAD

Hearing: 21.08.2017Pronounced: 28.09.2017

PER S. S. GODARA, JUDICIAL MEMBER

Assessee and Revenue have instituted the instant cross appeals for assessment year 2008-09 against the CIT(A)-XIV, Ahmedabad’s order dated 12.12.2011, in case no. CIT(A) XIV/ACIT Cir.8/126/10-11, in proceedings u/s. 143(3) of the Income Tax Act, 1961; in short “the Act”.

2.

We come to assessee’s appeal ITA No.493/Ahd/2012. Its former substantive ground seeks to delete Section 14A r.w.8D disallowance of Rs.1,11,834/- made in the course of assessment as affirmed in lower appellate proceedings to the extent of Rs.53,037/-. There is

The order continues below.

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