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

DCIT 1(1), Mumbai vs. Cox & Kings Ltd, Mumbai

In the result, cross objection raised by the assessee is partly allowed for statistical purposes

ITA 2381/MUM/2014[2008-09]Status: DisposedITAT Mumbai14 Jan 2016AY 2008-09

Bench: Shri D. Karunakara Rao & Shri Amarjit Singhi.T.A. No.2381/M/2014 (Assessment Year: 2008-2009) फनाभ/ Dcit-1(1), M/S. Cox & Kings Ltd., Room No.579, Aayakar Bhavan, Turner Morrison Building, Vs. Mumbai – 400 020. 16, Bank Street, Mumbai – 400 001. स्थामी रेखा सं./ Pan : Aaacc1921B (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) C.O. No.135/M/2015 (Assessment Year: 2008-2009) फनाभ/ M/S. Cox & Kings Ltd., Dcit-1(1), Turner Morrison Building, Room No.579, Aayakar Vs. 16, Bank Street, Bhavan, Mumbai – 400 020. Mumbai – 400 001. स्थामी रेखा सं./ Pan : Aaacc1921B (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) अऩीराथी की ओय से / Assessee By : Shri Rajan R. Vora प्रत्मथी की ओय से/ Revenue By : Shri Shiddaramappa Kappata Navar, Dr सुनवाई की तायीख / Date Of Hearing : 10.12.2015 घोषणा की तायीख /Date Of Pronouncement : 14.01.2016 आदेश / O R D E R Per D. Karunakara Rao, Am: The Captioned Appeal Ita No.2381/M/2014 Is Filed By The Revenue & The Cross Objection Is Filed By The Assessee Against The Order Of The Cit (A)-1, Mumbai Dated 10.1.2014 For The Assessment Year 2008-2009. Since, The Issues Involved In These Appeals Are Inter-Connected, Therefore, For The Sake Of Convenience, They Are Clubbed, Heard Together & Disposed Of In This Consolidated Order. Appeal Wise Adjudication Is Given In The Following Paragraphs Of This Order.

For Appellant: Shri Rajan R. VoraFor Respondent: Shri Shiddaramappa Kappata
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER I.T.A. No.2381/M/2014 (Assessment Year: 2008-2009) फनाभ/ DCIT-1(1), M/s. Cox & Kings Ltd., Room No.579, Aayakar Bhavan, Turner Morrison Building, Vs. Mumbai – 400 020. 16, Bank Street, Mumbai – 400 001. स्थामी रेखा सं./ PAN : AAACC1921B (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) C.O. No.135/M/2015 (Assessment Year: 2008-2009) फनाभ/ M/s. Cox & Kings Ltd., DCIT-1(1), Turner Morrison Building, Room No.579, Aayakar Vs. 16, Bank Street, Bhavan, Mumbai – 400 020. Mumbai…

Cox & Kings Ltd, Mumbai vs. Addl CIT RG 1(1), Mumbai

In the result, both the appeals of the assessee are partly allowed for statistical purposes

ITA 1354/MUM/2014[2009-10]Status: DisposedITAT Mumbai04 Nov 2015AY 2009-10

Bench: Shri D. Karunakara Rao & Shri Pawan Singh

For Appellant: Shri R.R. VoraFor Respondent: Shri G.M. Doss, DR and Shri
Section 143(3)Section 14ASection 92A(3)

…before the Tribunal. Before us, Ld Counsel for the assessee reiterated the submissions made before the lower authorities and relied on various precedents viz., judgment of the Hon‟ble Punjab & Haryana High Court in the case of CIT vs. Lakhani Marketing (P&H) (272 CTR 265); decision of the Delhi High Court in the case of Cheminvest Limited (ITA No.749/2014); decision of the Tribunal in the case of ACIT vs. M. Bhaskaran (152 ITD 844) (Mds. Tribunal) and others, copies of which are placed in paper book placed before us, which are relevant for the proposition that “section 14A will not apply if no exempt income is re…