323 ITR518 (Punj & Har) ACIT v. SIL Investment Ltd.

54 SOT 356Income Tax Appellate Tribunal2012#5642 most cited
21

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Judgments citing 323 ITR518 (Punj & Har) ACIT v. SIL Investment Ltd.

INDRAPRASTHA GAS LIMITED,DELHI vs. JCIT OSD RANGE-10, DELHI

In the result, the appeal of the assessee is allowed as above

ITA 2422/DEL/2025[2018-19]Status: DisposedITAT Delhi30 Oct 2025AY 2018-19

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri Avdhesh Kumar Mishra

Section 14ASection 32(1)(iia)

…51 taxman.com 203, (v) Hero Cycle; 323 ITR 518, (vi) Inductis India Pvt. Ltd. 157 taxmann.com 87, (vii) Eichear; 101 TTJ (Del.) 369, (vii) Godrej & Boyce Mfg. Co. Ltd.; 328 ITR 81 (Mum), (ix) Taikisha; 370 ITR 338 (Del.), (x) Priya Exhibitors (P) Ltd.; [2012] 54 SOT 356, (xi) Pukhraj Chunnilal Bafna; [2014] 47 taxman.com 288 and (xii) Magarpatta Township Development and Construction Company Ltd. [2014]. Besides these case laws, the Ld. AR also placed reliance on the decision of the coordinate bench in the cases of Punjab National Bank 176 taxmann.com 408, Bharti Airtel Ltd. 171 taxmann.com 754 and Saroj Agarwal (…

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR vs. M/S. KALPARATRU POWER TRANSMISSION LIMITED,, GANDHINAGAR

Appeal of the assessee is dismissed

ITA 2853/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2012-13
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…t given any finding about incorrectness of the disallowance offered by the assessee, but this is, as we can see from the extracts from the assessment order, factually incorrect. As regards learned counsel's reliance on Priya Exhibitors Pvt Ltd vs DCIT [(2012) 54 SOT 356 (Del)], we find that the coordinate bench had specifically stated that "..... Their I.T.A. No.: 538/Ahd/2013 Assessment year: 2009-10 Lordships has held that the Assessing Officer must in I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 12 Kalpataru Power Transmission Ltd. . vs. DCIT the first instance determine whether the cla…

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

ITA 2472/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2013-14
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…t given any finding about incorrectness of the disallowance offered by the assessee, but this is, as we can see from the extracts from the assessment order, factually incorrect. As regards learned counsel's reliance on Priya Exhibitors Pvt Ltd vs DCIT [(2012) 54 SOT 356 (Del)], we find that the coordinate bench had specifically stated that "..... Their I.T.A. No.: 538/Ahd/2013 Assessment year: 2009-10 Lordships has held that the Assessing Officer must in I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 12 Kalpataru Power Transmission Ltd. . vs. DCIT the first instance determine whether the cla…

KALPATARU POWER TRANSMISSION LTD.,,GANDHINAGAR vs. THE DY. CIT, GANDHINAGAR CIRCLE,, GANDHINAGAR

Appeal of the assessee is dismissed

ITA 2471/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 Jul 2022AY 2012-13
For Appellant: Shri Milin Mehta, A.RFor Respondent: Shri Mohd Usman, CIT/DR
Section 143(3)Section 250(6)Section 92C

…t given any finding about incorrectness of the disallowance offered by the assessee, but this is, as we can see from the extracts from the assessment order, factually incorrect. As regards learned counsel's reliance on Priya Exhibitors Pvt Ltd vs DCIT [(2012) 54 SOT 356 (Del)], we find that the coordinate bench had specifically stated that "..... Their I.T.A. No.: 538/Ahd/2013 Assessment year: 2009-10 Lordships has held that the Assessing Officer must in I.T.A No. 2471 & 2853/Ahd/2017 & Ors. A.Y. 2012-13 & 2013-14 Page No 12 Kalpataru Power Transmission Ltd. . vs. DCIT the first instance determine whether the cla…

M/S KARNATAKA STATE BEVERAGES CORPORATION LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(1), BANGALORE

In the result, the appeal of the assessee is dismissed

ITA 973/BANG/2018[2012-13]Status: DisposedITAT Bangalore09 Dec 2021AY 2012-13

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year : 2012-13

For Appellant: Shri S.V. Ravishankar, AdvocateFor Respondent: Shri Chetan R., Addl. CIT(DR)(ITAT), Bengaluru
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER Assessment year : 2012-13 M/s. Karnataka State Beverages Vs. The Deputy Commissioner Corporation Lt., of Income Tax, 4th Floor, TTMC Building, ‘A’ Block, Circle 4(1)(1), BMTC, Shanthinagar, Bangalore. Bangalore – 560 027. PAN: AACCK 1421A APPELLANT RESPONDENT Appellant by : Shri S.V. Ravishankar, Advocate Respondent by : Shri Chetan R., Addl. CIT(DR)(ITAT), Bengaluru. Date of hearing : 30.11.2021 Date of Pronouncement : 09.12.2021 O R D E R Per Chandra Poojari, A…

RAVI MOHAN GEHI,MUMBAI vs. DCIT CEN CIR 40, MUMBAI

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

ITA 6238/MUM/2016[2011-12]Status: DisposedITAT Mumbai16 Sept 2020AY 2011-12

Bench: Shri S. Rifaur Rahman, Am & Shri Ram Lal Negi, Jm आयकरअपीलसं./ I.T.A. No. 6238/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2011-12) Dcit Cen Cir 40, Ravi Mohan Gehi, Piramal Chambers B/6, Navkar Chambers, बिधम/ Mumbai Andheri Kurla Road, Vs. Pin- Andheri (E), Mumbai-400 059 स्थायीलेखासं./जीआइआरसं./Pan No. Aeppg1674M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Pradip Kanasi, Ar By प्रत्यथीकीओरसे/Respondentby : Shri Michael, Dr Virtual Date Of Hearing 29.07.2020 : Date Of Pronouncement 16.09.2020 :

For Appellant: Shri Pradip Kanasi, AR byFor Respondent: Shri Michael, DR
Section 143(1)Section 143(2)Section 14ASection 153ASection 234BSection 57

…on between the expenditure and the exempt income and in absence thereof no disallowance can be made u/s14A. The said contention of the appellant is supported by the following decisions: 14 I.T.A. No. 6238/Mum/2016 Ravi Mohan Gehi a) Priya Exhibitors (P.) Ltd 54 SOT 356 (Delhi-Trib) (2012)[A.Y. 2008-09] b) Justice Sam P. Bharucha, 53 SOT 192 (Mumbai) [A.Y.2008-09] c) Hero Cycles Ltd, 323 ITR 518 (P&H) [A.Y.2004-05] d) Sun Investment Ltd. 8 ITR(Trib)33 (Del.) (2011) [A.Y.2005-06] 2. Failure on part of the A.O. to record satisfaction i. The appellant has not incurred any expenditure in computing dividend income whi…

CROMPTON GREAVES LTD,MUMBAI vs. DCIT CIR 6(2), MUMBAI

In the result, the assessee’s appeal in ITA No

ITA 5390/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2019AY 2009-10

Bench: Shri A. D. Jain, Vp & Shri Rajesh Kumar, Am Asst. Cit-6(2)(1) M/S. Crompton Greaves Ltd. R. No.504/563-C, 5Th Floor, 6Th Floor, Cg House, Vs. Aayakar Bhavan, M. K. Road, Dr. Annie Besant Road, Worli, Mumbai-400 020 Mumbai-400 030 Pan/Gir No. Aaacc 2089 A (Revenue) : (Assessee) & M/S. Crompton Greaves Ltd. Asst. Cit-6(2)(1) 6Th Floor, Cg House, R. No.504/563-C, 5Th Floor, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M. K. Road, Mumbai-400 030 Mumbai-400 020 Pan/Gir No. Aaacc 2089 A (Assessee) : (Revenue) : Shri A. M. Mittal Revenue By Assessee By : Shri Pradip Kapasi Date Of Hearing : 23.09.2019 Date Of Pronouncement : 27.09.2019

For Appellant: Shri Pradip Kapasi
Section 14(1)Section 14ASection 35

…rge his onus on this count. For this proposition, that in the absence of a clear finding of incurring of expenditure for earning the exempt income, no disallowance u/s. 14A is called for. Following decisions have been relied on:  Priya Exhibitors (P.) Ltd. 54 SOT 356 (Delhi-Trib)(2012)  Justice Sam P. Bharucha 53 SOT 192 (Mum)  Hero Cycles Ltd. 323 ITR 518 (P&H)  Sun Investment Ltd. 8 ITR (Trib) 33 (Del.)(2011) 30. It has also been urged on the basis of the assessee that the A.O. did not establish any nexus between the borrowed funds and the investments and that instead of he erroneously assumed that suc…

ACIT 6(2)(1), MUMBAI vs. CROMPTON GREAVES LIMITED, MUMBAI

In the result, the assessee’s appeal in ITA No

ITA 5295/MUM/2017[2009-10]Status: DisposedITAT Mumbai27 Sept 2019AY 2009-10

Bench: Shri A. D. Jain, Vp & Shri Rajesh Kumar, Am Asst. Cit-6(2)(1) M/S. Crompton Greaves Ltd. R. No.504/563-C, 5Th Floor, 6Th Floor, Cg House, Vs. Aayakar Bhavan, M. K. Road, Dr. Annie Besant Road, Worli, Mumbai-400 020 Mumbai-400 030 Pan/Gir No. Aaacc 2089 A (Revenue) : (Assessee) & M/S. Crompton Greaves Ltd. Asst. Cit-6(2)(1) 6Th Floor, Cg House, R. No.504/563-C, 5Th Floor, Vs. Dr. Annie Besant Road, Worli, Aayakar Bhavan, M. K. Road, Mumbai-400 030 Mumbai-400 020 Pan/Gir No. Aaacc 2089 A (Assessee) : (Revenue) : Shri A. M. Mittal Revenue By Assessee By : Shri Pradip Kapasi Date Of Hearing : 23.09.2019 Date Of Pronouncement : 27.09.2019

For Appellant: Shri Pradip Kapasi
Section 14(1)Section 14ASection 35

…rge his onus on this count. For this proposition, that in the absence of a clear finding of incurring of expenditure for earning the exempt income, no disallowance u/s. 14A is called for. Following decisions have been relied on:  Priya Exhibitors (P.) Ltd. 54 SOT 356 (Delhi-Trib)(2012)  Justice Sam P. Bharucha 53 SOT 192 (Mum)  Hero Cycles Ltd. 323 ITR 518 (P&H)  Sun Investment Ltd. 8 ITR (Trib) 33 (Del.)(2011) 30. It has also been urged on the basis of the assessee that the A.O. did not establish any nexus between the borrowed funds and the investments and that instead of he erroneously assumed that suc…

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. KALPATARU POWER TRANSMISSION LTD.,, GANDHINAGAR

In the result, Revenue’s appeal in ITA No

ITA 1463/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad10 May 2019AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad1. आयकर अपील सं./I.T.A. No.1462/Ahd/2016 2.आयकर अपील सं./I.T.A. No.1463/Ahd/2016 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Respectively)

For Appellant: Shri O.P.Sharma, CIT-DRFor Respondent: Shri Bhavin Marfatiya, AR
Section 14A

…t given any finding about incorrectness of the disallowance offered by the assessee, but this is, as we can see from the extracts from the assessment order, factually incorrect. As regards learned counsel’s reliance on Priya Exhibitors Pvt Ltd vs DCIT [(2012) 54 SOT 356 (Del)], we find that the coordinate bench had specifically stated that “….. Their Lordships has held that the Assessing Officer must in the first instance determine whether the claim of the assessee is correct and determination must be made having regard to the accounts of the assessee. The legislature directs him to follow rule 8D only where the…

THE JOINT COMMISSIONER OF INCOME TAX(OSD),, GANDHINAGAR vs. KALPATARU POWER TRANSMISSION LTD.,, GANDHINAGAR

In the result, Revenue’s appeal in ITA No

ITA 1462/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad10 May 2019AY 2010-11

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasad1. आयकर अपील सं./I.T.A. No.1462/Ahd/2016 2.आयकर अपील सं./I.T.A. No.1463/Ahd/2016 ("नधा"रण वष" / Assessment Years: 2010-11 & 2011-12 Respectively)

For Appellant: Shri O.P.Sharma, CIT-DRFor Respondent: Shri Bhavin Marfatiya, AR
Section 14A

…t given any finding about incorrectness of the disallowance offered by the assessee, but this is, as we can see from the extracts from the assessment order, factually incorrect. As regards learned counsel’s reliance on Priya Exhibitors Pvt Ltd vs DCIT [(2012) 54 SOT 356 (Del)], we find that the coordinate bench had specifically stated that “….. Their Lordships has held that the Assessing Officer must in the first instance determine whether the claim of the assessee is correct and determination must be made having regard to the accounts of the assessee. The legislature directs him to follow rule 8D only where the…

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

ITA 1870/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…4A read with Rule 8D could not be made: - DCIT vs. Ashish Jhunjhunwala [2013] I.T.A No. 1809/Kol/2012 (Kol) CITvs. Hero Cycles Ltd. [2010] 323 ITR518 (Punj & Har) ACIT vs. SIL Investment Ltd. [2012] 54 SOT 54 (Delhi) Priya Exhibitors (P.) Ltd. vs. ACIT [2012] 54 SOT 356 (Delhi) Raj Sri Production Pvt. Ltd. [TS~570~ITAT~2013(Mum)] It was submitted that since the Assessing Officer has failed to discharge his onus of establishing the fact that expenditure over and above identified by the Assessee was incurred in earning dividend income, the action of the Assessing Officer in applying Rule 8D is baseless and should b…

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

ITA 1869/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…4A read with Rule 8D could not be made: - DCIT vs. Ashish Jhunjhunwala [2013] I.T.A No. 1809/Kol/2012 (Kol) CITvs. Hero Cycles Ltd. [2010] 323 ITR518 (Punj & Har) ACIT vs. SIL Investment Ltd. [2012] 54 SOT 54 (Delhi) Priya Exhibitors (P.) Ltd. vs. ACIT [2012] 54 SOT 356 (Delhi) Raj Sri Production Pvt. Ltd. [TS~570~ITAT~2013(Mum)] It was submitted that since the Assessing Officer has failed to discharge his onus of establishing the fact that expenditure over and above identified by the Assessee was incurred in earning dividend income, the action of the Assessing Officer in applying Rule 8D is baseless and should b…

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

ITA 1868/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…4A read with Rule 8D could not be made: - DCIT vs. Ashish Jhunjhunwala [2013] I.T.A No. 1809/Kol/2012 (Kol) CITvs. Hero Cycles Ltd. [2010] 323 ITR518 (Punj & Har) ACIT vs. SIL Investment Ltd. [2012] 54 SOT 54 (Delhi) Priya Exhibitors (P.) Ltd. vs. ACIT [2012] 54 SOT 356 (Delhi) Raj Sri Production Pvt. Ltd. [TS~570~ITAT~2013(Mum)] It was submitted that since the Assessing Officer has failed to discharge his onus of establishing the fact that expenditure over and above identified by the Assessee was incurred in earning dividend income, the action of the Assessing Officer in applying Rule 8D is baseless and should b…

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

ITA 1867/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…4A read with Rule 8D could not be made: - DCIT vs. Ashish Jhunjhunwala [2013] I.T.A No. 1809/Kol/2012 (Kol) CITvs. Hero Cycles Ltd. [2010] 323 ITR518 (Punj & Har) ACIT vs. SIL Investment Ltd. [2012] 54 SOT 54 (Delhi) Priya Exhibitors (P.) Ltd. vs. ACIT [2012] 54 SOT 356 (Delhi) Raj Sri Production Pvt. Ltd. [TS~570~ITAT~2013(Mum)] It was submitted that since the Assessing Officer has failed to discharge his onus of establishing the fact that expenditure over and above identified by the Assessee was incurred in earning dividend income, the action of the Assessing Officer in applying Rule 8D is baseless and should b…

TATA GLOBAL BEVERAGE LIMITED,KOLKATA vs. ACIT, CIR-4, KOLKATA, KOLKATA

In the result ITA No.1869/Kol/2014 is allowed

ITA 1866/KOL/2014[2006-2007]Status: DisposedITAT Kolkata13 Dec 2017AY 2006-2007

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…4A read with Rule 8D could not be made: - DCIT vs. Ashish Jhunjhunwala [2013] I.T.A No. 1809/Kol/2012 (Kol) CITvs. Hero Cycles Ltd. [2010] 323 ITR518 (Punj & Har) ACIT vs. SIL Investment Ltd. [2012] 54 SOT 54 (Delhi) Priya Exhibitors (P.) Ltd. vs. ACIT [2012] 54 SOT 356 (Delhi) Raj Sri Production Pvt. Ltd. [TS~570~ITAT~2013(Mum)] It was submitted that since the Assessing Officer has failed to discharge his onus of establishing the fact that expenditure over and above identified by the Assessee was incurred in earning dividend income, the action of the Assessing Officer in applying Rule 8D is baseless and should b…

LEBONG INVESTMENTS PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE-11, KOLKATA, KOLKATA

In the result, assessee’s appeal stands allowed

ITA 2652/KOL/2013[2009-2010]Status: DisposedITAT Kolkata18 Jan 2017AY 2009-2010

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmedassessment Year :2009-10

Section 143(3)Section 14A

…ssee has not incurred and claimed any expenditure for earning the exempt income. 16. Similar views were also expressed by the Coordinate Benches in the case of Relaxo Footwears Ltd, vs. Addl. CIT (2012) 50 SOT 102 and Priya Exhibitors (P) Ltd vs. ACIT (2012) 54 SOT 356. In the case of Relaxo Footwears Ltd, it was held as under: “The Assessing Officer should have considered the claim of the assessee that no expenditure has been incurred in relation to earning the exempt income. If the claim was not found to be in consonance with the facts on record, it could have been rejected and disallowance could have been mad…

ITO 10(2)(1), MUMBAI vs. JPA SOLUTIONS P.LTD, MUMBAI

The appeal of the Revenue is dismissed

ITA 4640/MUM/2015[2011-12]Status: DisposedITAT Mumbai01 Sept 2016AY 2011-12

Bench: Shri Joginder Singh, Assessment Year:2011-12 Income Tax Officer-10(2)(1), M/S Jpa Solutions Pvt. Ltd. Room No.408, 4Th Floor, 102, Man Gouse, S.V. Road, बनाम/ Aayakar Bhavan, Vile Parle (West), Vs. M.K. Marg, Mumbai-400056 Mumbai-400020 "नधा"रती / Assessee राज"व / Revenue P.A. No.Aabcj7151K

Section 14A

…ITR 68 (Del.)(HC) • Kodak India Pvt. Ltd. v. ACIT[2013] 155 TTJ 697 (Mum.)(Trib.) • JK Investors (Bombay) Limited (Mum.) (Trib.) (www.itatonline.org) • Auchtel Products Limited v. ACIT[2012J 52 SOT 39 (Mum.) (Trib.) • Priya Exhibitors Pvt. Ltd. v. ACIT [2012] 54 SOT 356 (Del.) (Trib.) • DCIT v. REI Agro Ltd. (Kol.)(Trib.) • ACIT v. Iqbal M. Chagla (Mum.) (Trib.) I find that the disallowance was mechanically made by the Assessing Officer because as per the provisions of section 14A, the Assessing Officer is expected to re-compute the amount of disallowance u/s 14A of the Act only in a situation where he is not sat…

D.C.I.T CIR - 10,KOLKATA, KOLKATA vs. M/S PHILLIPS CARBON BLACK LTD, KOLKATA

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

ITA 2123/KOL/2013[2006-07]Status: DisposedITAT Kolkata12 Aug 2016AY 2006-07

Bench: : Shri P.M.Jagtap & Shri S.S. Viswanethra Ravi

For Appellant: Shri D.S.Damle, FCA, ld.ARFor Respondent: Shri Kalyan Nath, JCIT, Sr.DR
Section 10Section 14Section 143(2)Section 143(3)Section 14A

…ssee has not incurred and claimed any expenditure for earning the exempt income. 16. Similar views were also expressed by the Coordinate Benches in the case of Relaxo Footwears Ltd, vs. Addl. CIT (2012) 50 SOT 102 and Priya Exhibitors (P) Ltd vs. ACIT (2012) 54 SOT 356. In the case of Relaxo Footwears Ltd, it was held as under: “The Assessing Officer should have considered the claim of the assessee that no expenditure has been incurred in relation to earning the exempt income. If the claim was not found to be in consonance with the facts on record, it could have been rejected and disallowance could have been mad…

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