272 CTR 282 (Del) CIT v. Lakhani Marketing Incl

272 CTR 265High Court2014#1834 most cited

What is 272 CTR 282 (Del) CIT v. Lakhani Marketing Incl authority for?

No disallowance of expenditure can be made when there is no income generated from the investment.

62

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v. Lakhani Marketing Industries · 272 CTR 265 · no disallowance of expenditure · no income from investment · exempt income

Sections most often in play

Section 14ASection 143(3)Section 144Section 147Section 148Section 80PSection 80P(2)(a)(i)Section 80P(2)(d)

Issues it is cited on

section 80absection 80jkelvinatormere change of opinionrevision u/s 263domestic companysection 80cforeign tax creditdisallowance under section 14asection 10(34)gross total incomedisallowance u/s 14a

Judgments citing 272 CTR 282 (Del) CIT v. Lakhani Marketing Incl

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Aquamall Water Solutions Limited, Hyderabad

In the result, both the appeals of the revenue are dismissed in above terms

ITA 2302/HYD/2018[2015-16]Status: DisposedITAT Hyderabad30 Aug 2021AY 2015-16

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V. RaghuramFor Respondent: Shri Rohit Mujumdar
Section 143(3)Section 14ASection 14A(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 2301 & 2302/H/2018 Assessment Year: 2014-15 & 2015-16 Dy. Commissioner of Vs. Aquamall Water Income-tax, Circle – 1(1), Solutions Ltd., Hyderabad. Hyderabad. PAN – AADCA 6241M (Appellant) (Respondent) Revenue by: Shri Rohit Mujumdar Assessee by: Shri A.V. Raghuram Date of hearing: 12/08/2021 Date of pronouncement: 30/08/2021 O R D E R PER L.P. SAHU, A.M.: Both these appeals filed by the Revenue are directed against…

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Aquamall Water Solutions Limited, Hyderabad

In the result, both the appeals of the revenue are dismissed in above terms

ITA 2301/HYD/2018[2014-15]Status: DisposedITAT Hyderabad30 Aug 2021AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V. RaghuramFor Respondent: Shri Rohit Mujumdar
Section 143(3)Section 14ASection 14A(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 2301 & 2302/H/2018 Assessment Year: 2014-15 & 2015-16 Dy. Commissioner of Vs. Aquamall Water Income-tax, Circle – 1(1), Solutions Ltd., Hyderabad. Hyderabad. PAN – AADCA 6241M (Appellant) (Respondent) Revenue by: Shri Rohit Mujumdar Assessee by: Shri A.V. Raghuram Date of hearing: 12/08/2021 Date of pronouncement: 30/08/2021 O R D E R PER L.P. SAHU, A.M.: Both these appeals filed by the Revenue are directed against…

DCIT, C-1(1), Chandigarh vs. Unipro Techno Infrastructure Private Limited, Chandigarh

In the result, appeal of the Department is dismissed

ITA 149/CHANDI/2020[2015-16]Status: DisposedITAT Chandigarh23 Dec 2020AY 2015-16
For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Sandip Dahiya, CIT
Section 143(3)Section 14ASection 263

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ “बी” , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH (VIRTUAL COURT) "ी एन.के.सैनी, उपा"य" एवं "ी आर.एल. नेगी, "या"यक सद"य BEFORE: SHRI. N.K.SAINI, VP & SHRI , R.L. NEGI, JM आयकर अपील सं./ ITA NO. 149/Chd/2020 "नधा"रण वष" / Assessment Year : 2015-16 The DCIT, C-1(1) Unipro Techno Infrastructure Private बनाम Sector-17E, Limited Chandigarh SCO 36, Sector-7C Chandigarh "थायी लेखा सं./PAN NO: AABCU1732D अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Sudhir Sehgal, Advocate Shri A.K. Sood, C.A राज"व क" ओर से/ Revenue by : Shr…

Anamika Conductors Pvt. Ltd., Jaipur vs. Assistant Commissioner of Income Tax, Circle-6, Jaipur

In the result, appeal of the assessee is allowed in part in terms indicated hereinabove

ITA 266/JPR/2019[2014-15]Status: DisposedITAT Jaipur10 Jun 2019AY 2014-15
For Appellant: Shri G.M. Mehta (CA)For Respondent: Shri P.P. Meena (Addl.CIT)
Section 115JSection 143(3)Section 14ASection 32Section 32(1)

…s received from the investment made in equity shares of M/s Anamika Oil Pvt. Ltd., therefore, no disallowance of interest can be made in view of the decision of the Hon’ble Punjab & Haryana High Court in the case of CIT Vs. Lakhani Marketing Industries (2014) 272 CTR 265 (P&H), Hon’ble Delhi High Court decision in the case of CIT Vs. Holcim India Pvt. Ltd. (2014) 272 CTR 282 (Del) , Hon’ble Allahabad High Court decision in the case of CIT Vs. Shivam Motors Pvt. Ltd. (2014) 272 CTR 277 (All) and the decision of the Hon’ble Gujarat High Court in the case of CIT Vs. Corrtech Energy Pvt. Ltd. (2015) 376 ITR 97 (Guj).…

Asst CIT 6(2)(2), Mumbai vs. Essar House Ltd, Mumbai

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed

ITA 6980/MUM/2016[2012-13]Status: DisposedITAT Mumbai04 Apr 2019AY 2012-13

Bench: Shri Mahavir Singh & Shri Rajesh Kumarassessment Year: 2012-13

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri R. Manjunatha Swamy, D.R
Section 14A

…gton India Ltd v. Addl. CIT (ITA No: 520 of 2016) dated 23.12.2016 iv) Cheminvest Ltd. v. CIT [281 CTR 447 (Del)] v) CIT v. Shivam Motors (P) Ltd. [272 CTR 277 (All)] vi) CIT v. Corrtech Energy (P) Ltd. [272 CTR 262 (Guj)] vii) CIT v. Lakhani Marketing Incl. [272 CTR 265 (P&H)] viii) CIT v. Holcim India (P) Ltd. (272 CTR 282 (Del)] ix) CIT v. Winsome Textile Industries Ltd. (319 ITR 204 P&H)” The Ld. A.R. prayed before the Bench that in view of the ratio laid down in the various decisions as stated above the ground raised by the Revenue may be dismissed by upholding the order of Ld. CIT(A) on this issue. 8. Aft…

DCIT, Central Circle - 4(4), Kolkata vs. M/S. Electrosteel Castings Limited., Kolkata

ITA 192/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A. L. SAINI, AM आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/s. Electrosteel Castings Ltd. Vs. DCIT, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) DCIT, Central Circle-4(4), Vs. M/s. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेख…

DCIT, Central Circle - 4(4), Kolkata vs. M/S. Electrosteel Castings Limited., Kolkata

ITA 191/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A. L. SAINI, AM आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/s. Electrosteel Castings Ltd. Vs. DCIT, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) DCIT, Central Circle-4(4), Vs. M/s. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेख…

M/S. Electrosteel Casting Limited., Kolkata vs. DCIT, Cental Circle - 4(4), Kolkata

ITA 139/KOL/2018[2013-14]Status: DisposedITAT Kolkata28 Feb 2019AY 2013-14

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A. L. SAINI, AM आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/s. Electrosteel Castings Ltd. Vs. DCIT, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) DCIT, Central Circle-4(4), Vs. M/s. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेख…

M/S. Electrosteel Casting Limited., Kolkata vs. DCIT, Cental Circle - 4(4), Kolkata

ITA 138/KOL/2018[2012-13]Status: DisposedITAT Kolkata28 Feb 2019AY 2012-13

Bench: Shri S. S. Godara, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/S. Electrosteel Castings Ltd. Vs. Dcit, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) Dcit, Central Circle-4(4), Vs. M/S. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 4975 B (Revenue) .. (Assessee)

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Dr. P. K. Srihari, CIT-DR & Robin Choudhury, Addl.CIT(DR)
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A. L. SAINI, AM आयकरअपीलसं./I.T.A Nos.138 & 139/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) M/s. Electrosteel Castings Ltd. Vs. DCIT, Central Circle-4(4), Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 4975 B (Assessee) .. (Revenue) & आयकरअपीलसं./I.T.A Nos.191 & 192/Kol/2018 ("नधा"रण वष" / Assessment Year: 2012-13 & 2013-14) DCIT, Central Circle-4(4), Vs. M/s. Electrosteel Castings Ltd. Kolkata. 19, G. K. Tower, Camac Street, Kolkata – 700 017. "थायीलेख…

DCIT 9(3)(2), Mumbai vs. Future Market Networks Ltd, Mumbai

In the result, Revenue’s appeal is dismissed

ITA 5234/MUM/2017[2013-14]Status: DisposedITAT Mumbai30 Jan 2019AY 2013-14

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Dinkle HariaFor Respondent: Shri Shushil Kumar Poddar
Section 14ASection 8D(2)(ii)

…[2017] 80 taxmann.com 221 (Mad.); iv) Cheminvest Ltd. v/s CIT, [2015] 378 ITR 33 (Del.); v) CIT v/s Corrtech Energy Pvt. Ltd., [2015] 372 ITR 97 (Guj.); vi) CIT v/s Shivam Motors Pvt. Ltd., [2014] 272 CTR 277 (All.); vii) CIT v/s Lakhani Marketing Inc. [2014] 272 CTR 265 (P&H); viii) ACIT v/s Gini &Jony Ltd., [2018] 172 ITD 472 (Mum. Trib.); ix) ACIT v/s dish TV India Ltd. [2018] 194 TTJ 897 (Mum.); x) DCIT v/s Instant Traders Pvt. Ltd. [2018] 96 taxmann.com 378 (Mum.); xi) DCIT v/s Piramal Realty Pvt. Ltd., [2018] 100 taxmann.com 294 (Mum. Trib.); xii) Pyramid Consulting Engineers Pvt. Ltd. v/s DCIT, [2018] 90 t…

DCIT 9(3)(2), Mumbai vs. Future Consumer Limited (Formerly Known As Future Consumer Enterprises Limited ), Mumbai

In the result, Revenue’s appeal is dismissed

ITA 5233/MUM/2017[2013-14]Status: DisposedITAT Mumbai30 Jan 2019AY 2013-14

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Shri Dinkle HariaFor Respondent: Miss Dipika Arora
Section 32Section 32(1)(iii)

…[2017] 80 taxmann.com 221 (Mad.); iv) Cheminvest Ltd. v/s CIT, [2015] 378 ITR 33 (Del.); v) CIT v/s Corrtech Energy Pvt. Ltd., [2015] 372 ITR 97 (Guj.); vi) CIT v/s Shivam Motors Pvt. Ltd., [2014] 272 CTR 277 (All.); vii) CIT v/s Lakhani Marketing Inc. [2014] 272 CTR 265 (P&H); viii) ACIT v/s Gini &Jony Ltd., [2018] 172 ITD 472 (Mum. Trib.); ix) ACIT v/s dish TV India Ltd. [2018] 194 TTJ 897 (Mum.); x) DCIT v/s Instant Traders Pvt. Ltd. [2018] 96 taxmann.com 378 (Mum.); xi) DCIT v/s Piramal Realty Pvt. Ltd., [2018] 100 taxmann.com 294 (Mum. Trib.); xii) Pyramid Consulting Engineers Pvt. Ltd. v/s DCIT, [2018] 90…

Shri Rakesh Kumar Gupta, Jalandhar vs. Deputy Commissioner of Income Tax, Circle-4, Jalandhar

In the result, the appeals of the assessee are partly allowed

ITA 398/ASR/2018[2013-14]Status: DisposedITAT Amritsar17 Jan 2019AY 2013-14

Bench: Shri. N.K. Saini, Hon'Ble & Shri. Ravish Sood

For Appellant: Shri Sudhir SehgalFor Respondent: Sh Lalit Mohan Jindal, D.R
Section 143(3)Section 14ASection 263

…is now squarely covered by the following judgements / case laws:- 1. Commissioner of Income Tax vs Kapsons Associates 381 ITR 204 (P&H) 2. M/s Empire Packages (P) Ltd vs DCIT – ITA No. 1186/Chd/2013, ITAT, Chandigarh 3. CIT vs M/s Lakhani Marketing Incl. 272 CTR 265 (P&H) P a g e | 4 ITA Nos. 398 & 225/Asr/2018 Sh Rakesh Kumar Gupta, Jalandhar 4. M/s BCL Industries & Infrastructure Ltd vs DCIT, ITA No. 1002/Chd/2013, ITAT, Chandigarh 5. M/s Cosmas Infrastructure Engineering (India) Ltd vs DCIT, ITA No. 486/Chd/2015, ITAT Chandigarh 6. CIT vs Max India Ltd – ITA No. 219 of 2013 (P&H) 7. Joint Investments…

Shri Rakesh Kumar Gupta, Jalandhar vs. Deputy Commissioner of Income Tax, Circle-4, Jalandhar

In the result, the appeals of the assessee are partly allowed

ITA 225/ASR/2018[2012-13]Status: DisposedITAT Amritsar17 Jan 2019AY 2012-13

Bench: Shri. N.K. Saini, Hon'Ble & Shri. Ravish Sood

For Appellant: Shri Sudhir SehgalFor Respondent: Sh Lalit Mohan Jindal, D.R
Section 143(3)Section 14ASection 263

…is now squarely covered by the following judgements / case laws:- 1. Commissioner of Income Tax vs Kapsons Associates 381 ITR 204 (P&H) 2. M/s Empire Packages (P) Ltd vs DCIT – ITA No. 1186/Chd/2013, ITAT, Chandigarh 3. CIT vs M/s Lakhani Marketing Incl. 272 CTR 265 (P&H) P a g e | 4 ITA Nos. 398 & 225/Asr/2018 Sh Rakesh Kumar Gupta, Jalandhar 4. M/s BCL Industries & Infrastructure Ltd vs DCIT, ITA No. 1002/Chd/2013, ITAT, Chandigarh 5. M/s Cosmas Infrastructure Engineering (India) Ltd vs DCIT, ITA No. 486/Chd/2015, ITAT Chandigarh 6. CIT vs Max India Ltd – ITA No. 219 of 2013 (P&H) 7. Joint Investments…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is partly allowed for statistical purpose

ITA 467/DEL/2014[2009-10]Status: DisposedITAT Delhi17 Oct 2018AY 2009-10

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 467/Del/2014 (A.Y 2009-10)

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…L & FS Energy Development Company Ltd. : 297 CTR 452 (Del.) CIT v. Holcim India (P) Ltd.: 272 CTR 282 (Del.)"' • CIT v. Corrtech Energy Pvt. Ltd.: 372 ITR 97 (Guj.) • • CIT v. Winsome Textile Industries Ltd.: 319 ITR 204 (P&H) • CIT v. M/s Lakhani Marketing: 272 CTR 265 (P&H) • CIT v. M/s. Shivam Motors (P) Ltd.: 272 CTR 277 (All) • Redington (India) Ltd vs. ACIT: 392 ITR 633 (Mad.) • SInterglobe Enterprises v. DCIT: ITA No.1362 & 1032/Del./2013 (Del. Trib.) - affirmed by Delhi High Court in ITA No.456 of 2016 • DCIT v. Morgan Stanley India Securities Pvt. Ltd. : ITA No. 114/Mum/2013 • (Mum.) VS ACIT v. M. Bask…

ACIT, Circle, Panchkula vs. M/S Janak Global Resources Pvt. Ltd., Panchkula

In the result, the appeal of the Revenue is dismissed

ITA 470/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh16 Oct 2018AY 2014-15
For Appellant: Shri Manoj KumarFor Respondent: Shri Parikshit Aggarwal, CA
Section 36Section 36(1)(iii)

…uring the year on the impugned investments made in shares of sister concern in the earlier year and there is no claim of any other exempt income in the computation of income, therefore placing reliance on the ratio of CIT vs. M/s Lakhani Marketing Inc. [2014] 272 CTR 265 (P&H) and jurisdictional ITAT Chandigarh decision in the case of Swami Automobiles (P) Ltd. ITA No.74/Chd/2015 dated 10.02.2016, it is held that no disallowance u/s 40A read with rule 8D of the Income tax Rules was warranted in this case . Therefore addition of Rs.25,43,299/- made by the AO on this account for A.Y.2014-15 is ordered to be deleted…

Lodha Builders Private Limited, Mumbai vs. ACIT, Cir- 6(3), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal filed by

ITA 1572/MUM/2015[2008-09]Status: DisposedITAT Mumbai23 Jul 2018AY 2008-09

Bench: Shri Pawan Singh, Jm & Shri N.K. Pradhan, Am

For Appellant: Shri Vijay Mehta-ARFor Respondent: Sh. N.S. Jangpangi CIT-DR
Section 139Section 14ASection 201Section 40

….(ITA No.51 of 2016 dated 13/10/1016 (BHC); 2. Redington India Ltd. vs. Addl.CIT(329 ITR 633)(Mad.); 3. Cheminvest Ltd. vs. CIT (378 ITR 33)(Del.); 281 CTR 447 (Del.); 4. CIT vs. Shivam Motors (P.) Ltd. (272 CTR 277)(All.); 5. CIT vs. Cortech Energy (P) Ltd. (272 CTR 265)( Guj.); 6. CIT vs. Lakhani Marketing Incl. (271 CTR 265)(P&H); 7. CIT vs. Holcim India (P) Ltd. (272 CTR 282) (Del.); 8. CIT vs. Winsome Textile Industries Ltd. (319 ITR 204)(P&H); 9. CIT vs. Delite Enterprises (ITA No.110 of 2009 Bom) and 10.Vakrangee Ltd. vs. ACIT being ITA No.6988/Mum/2014 dated 10/08/2016 3 I.T.A. No.1572/Mum/2015 Assessmen…

Rose Financiers & Commercials Pvt. Ltd., Kolkata vs. ITO, Ward - 12(4), Kolkata

In the result the appeal of the assessee is allowed

ITA 753/KOL/2018[2012-13]Status: DisposedITAT Kolkata13 Jul 2018AY 2012-13

Bench: Hon’Ble Shri N.S.Saini, Am ] Assessment Year : 2012-13

For Appellant: Shri M.Satnaliwala, ARFor Respondent: Shri Sanjoy Mukherjee, Addl. CIT
Section 14A

…isallowance u/s 14A r.w.r. 8D was warranted. For his contention he placed reliance on the decision of the following high courts :- “(1) Cheminvest Ltd. Vs. CIT281 CTR447 (2) CIT Vs. Holcin India (P) Ltd. 272 CTR (Delhi) 282 (3) CIT Vs. Lakhani Marketing India 272 CTR 265 Haryana &. Punjab) (4) C1T vs. Shivam Motor (P) Ltd., Allahabad High Court ITA No.88 of 2014 dated 05.05.2014. In the case of Pr. CIT Vs. IL & PS energy development Co. Ltd. (2017) 84 Taxman.com. 186 (Delhi). it has been decided that CBDT Circular cannot override the expressed provisions of section 14A read with Rule 8D. It has also been held by…

Sh. Devinder Kumar, Ludhiana vs. ITO, W-VII(1), Ludhiana

In the result, the appeal of the assessee is, therefore,

ITA 1270/CHANDI/2017[2011-12]Status: DisposedITAT Chandigarh30 May 2018AY 2011-12

Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Devinder Kumar, Vs. The Income Tax Officer, 14, Surya Vihar, Ward-Vii (1), Rishi Nagar, Ludhiana. Ludhiana. New Address: C/O M/S Shree Aum Hospital Aashiana Complex, Bari Brahmana, Jammu. (Jammu & Kashmir). Pan: Aenpk0344L (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Ms. Deepika Mohan, JCIT
Section 143(1)Section 143(3)Section 14ASection 36(1)(iii)

…ed the fact that no dividend income was earned by the assessee on the said investments. In view of the said fact, we hold that no disallowance u/s 14A is warranted. The Hon’ble jurisdictional High Court in the case of CIT vs Lakhani Marketing Incl (2014) 272 CTR 265 (P&H) has held that no disallowance u/s 14A is warranted when no exempt income is earned. Respectfully following the same we delete the disallowance made u/s 14A of the Act amounting to Rs.17,576/- . In view of the above we delete the additions made on account of the following: Unexplained loan Rs.3,50,000/- U/s 14A Rs.17,576/- While the addi…

DCIT, CC-I, Ludhiana vs. M/S Cosmos Infra Engineering (India) Ltd., Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1636/CHANDI/2017[2014-15]Status: DisposedITAT Chandigarh26 Apr 2018AY 2014-15

Bench: Shri Sanjay Garg & Ms. Annapurna Guptathe D.C.I.T., Vs. M/S Cosmos Infra Engineering Cc-1, (India)Ltd., 4-Battry Line, Civil Ludhiana. Lines, Delhi. Pan: Aaacc0017C (Appellant) (Respondent)

For Appellant: Smt.Zenia Handa, Addl.CITFor Respondent: Shri Sudhir Sehgal, Adv
Section 14ASection 251

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER The D.C.I.T., Vs. M/s Cosmos Infra Engineering CC-1, (India)Ltd., 4-Battry Line, Civil Ludhiana. Lines, Delhi. PAN: AAACC0017C (Appellant) (Respondent) Appellant by : Smt.Zenia Handa, Addl.CIT Respondent by : Shri Sudhir Sehgal, Adv. Date of hearing :16.04.2018 Date of Pronouncement :26.04.2018 ORDER PER ANNAPURNA GUPTA, A.M. : This appeal has been preferred by the assessee against the order of Ld. Commissioner of Income Tax (Appeals)-5, Ludhiana (hereinaft…

Dciat 14(3)(2), Mumbai vs. Sundaram Multipap Ltd, Mumbai

In the result, the appeal of the revenue is dismissed and the cross objection filed by the assessee is allowed

ITA 5327/MUM/2015[2012-13]Status: DisposedITAT Mumbai20 Apr 2018AY 2012-13

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 14A

…gh Court)] 2. M/s Redington India Ltd v. Addl. CIT [392 ITR 633 (Mad)] 3. Cheminvest Ltd. v. CIT [281 CTR 447 (Del)] 4. CIT v. Shivam Motors (P) Ltd. [272 CTR 277 (All)] 5. CIT v. Corrtech Energy (P) Ltd. [272 CTR 262 (Guj)] 6. CIT v. Lakhani Marketing Incl. [272 CTR 265 (P&H)] 7. CIT v. Holcim India (P) Ltd, [272 CTR 282 (Del)] 8. CIT v. Winsome Textile Industries Ltd. (319 ITR 204 P&H) 9. CIT v. Delite Enterprises [ITA No. 110 of 2009 (Bombay High Court)] 13. He submitted that an identical issue was considered by Hon'ble Hon'ble Jurisdictional Bombay High Court in the case of Principal CIT Vs. Ballarpur Indust…