4. Lally Motors India (P.) Ltd. v. PCIT (T20181

170 ITD 370Income Tax Appellate Tribunal2018#8414 most cited
13

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2018 to 2025.

Sections most often in play

Section 14ASection 143(3)Section 8DSection 10(2A)Section 115BBESection 115JBSection 133ASection 145(3)

Issues it is cited on

disallowance u/s 14asection 14asection 14indiacompanytotal incomebusinessinterest

Judgments citing 4. Lally Motors India (P.) Ltd. v. PCIT (T20181

FAST MOVERS LOGISTICS PRIVATE LIMITED,NEW DELHI vs. ITO WARD - 9(1), NEW DELHI

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

ITA 128/DEL/2021[2016-17]Status: DisposedITAT Delhi06 Aug 2025AY 2016-17

Bench: Shri S. Rifaur Rahman & Shri Anubhav Sharmafast Movers Logistics Private Limited, Vs. Ito, Ward 9 (1), E-188, E – Block, Greater Kailash, New Delhi. New Delhi – 110 065. (Pan : Aabcf7319R) (Appellant) (Respondent) Assessee By : Shri Kalrav Mehrotra, Advocate Revenue By : Shri Om Prakash, Sr. Dr Date Of Hearing : 07.05.2025 Date Of Order : 06.08.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals), Delhi-13 [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 04.02.2020 For Assessment Year 2016-17. 2. Brief Facts Of The Case Are, During Assessment Proceedings, Ao Observed That Assessee Has Paid Interest & Bank Charges Of Rs.41,99,598/- During The Year Against The Loan Taken By The Assessee From Nbfc. He Also Observed That Assessee Has Received Exempt Income Of Rs.32,29,58,236/- From Partnership Firm, Namely, Great Value Foods Against The Investment Of Rs.86,39,14,055/-.

For Appellant: Shri Kalrav Mehrotra, AdvocateFor Respondent: Shri Om Prakash, Sr. DR
Section 10Section 14ASection 28

…early applicable. 4.8 There are numerous other case laws supporting the findings of the AO, wherein even if no exempt income is earned, the provisions of section 14A is still applicable, for example: i. Lally Motors India (P) Ltd. vs. PCIT ITAT Amritsar 2018 (170 ITD 370) ii) Punjab Tractors Ltd. vs. CIT P & H High Court 2017 according to which the AO is bound to apply the provisions of Rule 8D where he is not satisfied with the correctness of the claim of the assessee in respect of expenditure incurred to earned exempt income. iii) Vipin Malik vs. ACIT IT AT, Delhi 2016 wherein no disallowance of expenditure was…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. NARESH KUMAR GUPTA, SRIGANGANAGAR

In the results the appeal of the revenue stands dismissed and the

ITA 458/JPR/2024[2014-15]Status: DisposedITAT Jaipur28 Nov 2024AY 2014-15

Bench: Him The Order Passed Under Section 143(3) Of The Income Tax Act, [ For Short “Act” ] By The Acit, Circle, Sri Ganganagar [

For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Ms. Alka Gautam (CIT) (V.H.)
Section 143(3)Section 14ASection 36(1)(iii)

…ified in deleting the addition of Rs.2,87,229/- on account of out of the claim of interest without appreciating the fact that that in the case of Lally Motors India (P.) Ltd. Vs PCIT, Hon'ble ITAT Amritsar in [2018] 93 taxmann.com 39 (Amritsar - Trib.)/[2018] 170 ITD 370 (Amritsar - Trib.) held that Section 14A would apply even if no dividend was earned by assessee from investments in shares. 3 (iii) Whether on facts and in circumstances of the case, the CIT(A) is justified in restricting the addition of Rs.97,63,413/- made by the AO on account of 3 & CO No. 09/JPR/2024 DCIT vs. Naresh Kumar Gupta disallowance o…

INDIABULLS REAL ESTATE LIMITED,NEW DELHI vs. DCIT CENTRAL CIRCLE 12(1), NEW DELHI

In the result, the appeal of the assessee is allowed

ITA 5954/DEL/2019[2013-14]Status: DisposedITAT Delhi17 May 2024AY 2013-14

Bench: Shri M. Balaganesh & Shri Vimal Kumarm/S. Indiabulls Real Estate Ltd, Vs. Dcit, M-62 & 63, First Floor, Central Circle-12(1), Connaught Place, New Delhi New Delhi (Appellant) (Respondent) Pan:Aabci5194F

For Appellant: Shri Lalit Mohan, CAFor Respondent: Shri Sandip Kumar Mishra, Sr. DR
Section 143(3)Section 14ASection 14A(2)

…l against the same, raking up the same issue after four years when there is a favourable judicial decision on record, is akin to raising a dispute against a stale issue. 4. Lally Motors India (P.) Ltd. Vs PCIT (T20181 93 taxmann.com 39 (Amritsar Trib:)/[2018] 170 ITD 370 (Amritsar - Trib.) where Hon'ble ITAT Amritsar held that Section 14A would apply even if no dividend was earned by assessee from investments in shares. 5. Godrej & Boyce Manufacturing Company Ltd. Vs DCIT [2017] 81 taxmann.com 111 (SC)/[2017] 247Taxman361 (SC)/[2017] 394 ITR 449 (SC)/[2017] 295 CTR 121 (SC) where Hon'ble Supreme Court held that w…

ACIT CENTRAL -2, INDORE vs. M/S KETI CONSTRUCTION LTD, INDORE

In the result, appeal of the Revenue is dismissed

ITA 96/IND/2022[2017-18]Status: DisposedITAT Indore30 Jan 2023AY 2017-18

Bench: Shri Chandra Mohan Garg & Shri Bhagirath Mal Biyaniassessment Year: 2017-18

For Appellant: Shri Somya Bumb, CAFor Respondent: Shri P.K. Mishra, CIT(DR)
Section 14A

…appreciated the fact that the intention of legislature is to disallow all the expenditures incurred in relation to income, which does not form part of total income. In the case of Lolly Motors India(p.)Ltd VS PCIT(2018) 93 taxmann.com39(Amritsar- Trib.)/(2018)170 ITD 370 (Amritsar-Trib.), Hon'ble ITAT held that section 14A would apply even if no dividend was earned by assessee from investment in shares." 3 "Whether or not on the facts and in the circumstances of the case the Ld.CIT(A) is justified in ignoring the circular no 5 of 2014 dated 11.02.2014 issued by CBDT, which is intended to cover even those situatio…

DY CIT -2(3)(1), MUMBAI vs. M/S. PATEL ENERGY ESOURCES LTD., MUMBAI

In the result impugned order is upheld and appeal of the Revenue is dismissed

ITA 327/MUM/2021[2013-14]Status: DisposedITAT Mumbai17 Mar 2022AY 2013-14

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahmanआअसं. 327/मुं/2021("न.व.2013-14) Dy. Commissioner Of Income Tax -2(3)(1), Room No.509, 5Th Floor, Aaykar Bhavan, M.K.Road, : अपीलाथ"/ Appellant Mumbai 400 020 बनाम/ Vs. M/S. Patel Energy Resources Ltd., Patel Engineering Compound, Patel Estate Road, Jogeshwari(W), Mumbai 400 102 Pan: Aaecp-5477-H : ""थ"/ Respondent Appellant By : Shri R.A.Dhyani Respondent By : Shri Mayur Kisnadwala सुनवाई की तारीख/ : 10/03/2022 Date Of Hearing घोषणा की तारीख / : 17/03/2022 Date Of Pronouncement आदेश/ Order Per Vikas Awasthy, Jm:

For Appellant: Shri R.A.DhyaniFor Respondent: Shri Mayur Kisnadwala
Section 14A

…ear has not earned any 3 exempt income. The ld. Departmental Representative to further strenthen his submission draws support from the following decisions: (i) Maxopp Investments Ltd. vs. CIT, 402 ITR 640(SC); and (ii)Lally Motors India Pvt. Ltd. vs. PCIT , 170 ITD 370 (Amritsar- Trib) 5. On the other hand, Shri Mayur Kisnadwala appearing on behalf of the assessee strongly supported the order of CIT(A).The ld. Authorized Representative for the assessee pointed that no fresh investments were made in the impugned assessment year. The investments made were from own funds. Own funds of the assessee are sufficient t…

ACIT, NEW DELHI vs. M/S. INDIABULLS FINANCIAL SERVICES LTD., NEW DELHI

In the result, both the appeals of the revenue are dismissed

ITA 6603/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Mar 2020AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner Of Vs M/S Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci5194F

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Sh. Rajesh Kumar Kedia, CIT DR
Section 14A

…gainst the same, raking up the same issue after four years when there is a favourable judicial decision on record, is akin to raising a dispute against a stale issue. 4. Lally Motors India (P.) Ltd. Vs PCIT (T20181 93 taxmann.com 39 (Amritsar - Trib.)/[2018] 170 ITD 370 (Amritsar - Trib.) where Hon’ble ITAT Amritsar held that Section 14A would apply even if no dividend was earned by assessee from investments in shares. 5. Godrej & Boyce Manufacturing Company Ltd. Vs DCIT [2017] 81 taxmann.com 111 (SC)/[2017] 247Taxman361 (SC)/[2017] 394 ITR 449 (SC)/[2017] 295 CTR 121 (SC) where Hon’ble Supreme Court held that…

ACIT, NEW DELHI vs. M/S. INDIABULLS REAL ESTATE LTD., NEW DELHI

In the result, both the appeals of the revenue are dismissed

ITA 6602/DEL/2016[2012-13]Status: DisposedITAT Delhi11 Mar 2020AY 2012-13

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 6602/Del/2016 : Asstt. Year : 2012-13 Asstt. Commissioner Of Vs M/S Indiabulls Real Estate Ltd., Income Tax, Circle-12(1), M-62 & 63, First Floor, Connaught New Delhi Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aabci5194F

For Appellant: Sh. Gautam Jain, Adv. &For Respondent: Sh. Rajesh Kumar Kedia, CIT DR
Section 14A

…gainst the same, raking up the same issue after four years when there is a favourable judicial decision on record, is akin to raising a dispute against a stale issue. 4. Lally Motors India (P.) Ltd. Vs PCIT (T20181 93 taxmann.com 39 (Amritsar - Trib.)/[2018] 170 ITD 370 (Amritsar - Trib.) where Hon’ble ITAT Amritsar held that Section 14A would apply even if no dividend was earned by assessee from investments in shares. 5. Godrej & Boyce Manufacturing Company Ltd. Vs DCIT [2017] 81 taxmann.com 111 (SC)/[2017] 247Taxman361 (SC)/[2017] 394 ITR 449 (SC)/[2017] 295 CTR 121 (SC) where Hon’ble Supreme Court held that…

DCIT CEN CIR 5(4), MUMBAI vs. SATYAM REALTORS P.LTD, MUMBAI

In the result, the appeal filed by the revenue is dismissed

ITA 2391/MUM/2018[2014-15]Status: DisposedITAT Mumbai31 Jul 2019AY 2014-15

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2014-15

For Appellant: Mr. Nimesh R. Thar, ARFor Respondent: Mr. Chaudhary Arun Kumar Singh, DR
Section 115JSection 143(3)Section 14A

…leted the above disallowance of M/s Satyam Realtors 3 Rs.74,26,504/- made by the AO on the reason that the assessee has not claimed as deduction any exempt income. 4. Before us, the Ld. DR relies on the order of the ITAT, Amritsar in Lally Motors reported in 170 ITD 370 and submits that disallowance u/s 14A r.w. Rule 8D can be made even if there is no exempt income. On other hand, the Ld. counsel for the assessee relies on the decision of the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT (2015) 61 taxmann.com 118 (Del). 5. We have heard the rival submissions and perused the relevant materials on record. T…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7092/MUM/2017[2013-14]Status: DisposedITAT Mumbai08 May 2019AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…lso which are under appeal now. CO Nos. 30, 31 & 32/MUM/2019 M/s. Associate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein t…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7074/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 May 2019AY 2012-13

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…lso which are under appeal now. CO Nos. 30, 31 & 32/MUM/2019 M/s. Associate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein t…

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 8(2), MUMBAI vs. ASSOCIATE HOLDINGS PRIVATE LIMITED, MUMBAI

In the result, appeals of the Revenue and cross objections of the assessee are dismissed

ITA 7073/MUM/2017[2014-15]Status: DisposedITAT Mumbai08 May 2019AY 2014-15

Bench: Shri C.N. Prasad, Hon'Ble & Shri Manoj Kumar Aggarwal, Hon'Ble

For Appellant: Shri K. Gopal &For Respondent: Shri Anadi Varma
Section 14Section 14A

…lso which are under appeal now. CO Nos. 30, 31 & 32/MUM/2019 M/s. Associate Holdings Pvt. Ltd. 4. Ld. DR however strongly supporting the orders of the Assessing Officer also placed reliance on the decisions in the cases of Lally Motors India (P.) Ltd v. PCIT [170 ITD 370 (ASR)], in the case of J.H. Fin Vest (P.) Ltd. v. DCIT [148 ITD 326 (Del)] and Doubledot Finance Ltd v. DCIT [65 SOT 324 (Mum)]. 5. We have heard the rival submissions, perused the orders of the Authorities below. On a perusal of the decision of the Coordinate Bench, we find that identical issue came up for hearing for the A.Y. 2011-12 wherein t…

DCIT, CIRCLE- 2, MEERUT vs. ROMI SHIV, MEERUT

ITA 3900/DEL/2017[2013-14]Status: DisposedITAT Delhi16 Jan 2019AY 2013-14

Bench: Shri N.S. Saini & Shri Kuldip Singh

For Appellant: Shri Vinod Kumar Goel, AdvocateFor Respondent: Shri S.S. Rana, CIT DR
Section 14ASection 36(1)(iii)

…not invested the amount of advance in any manner, the question of disallowing the interest thereon does not arise. 9. Ld. DR for the Revenue by relying upon the decision rendered by the coordinate Bench of the Tribunal in case of Lalli Motors India Limited – 170 ITD 370 contended that even if there is no dividend income, interest can be disallowed. But, we are of 6 ITA No.3900/Del./2017 the considered view that in the face of the decisions rendered by the Hon’ble Delhi High Court in case of Holcim India Pvt. Ltd. – ITA No.486/2014 & ITA No.299/2014 and Hon’ble Supreme Court in Godrej & Boyce Manufacturing Com…

AVINASH BHOSALE INFRASTRUCTURE PVT. LTD.,,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

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

ITA 986/PUN/2016[2012-13]Status: DisposedITAT Pune29 Nov 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर अपील सं. / Ita Nos. 985 & 986/Pun/2016 "नधा"रण वष" / Assessment Years : 2009-10 & 2012-13

For Appellant: Shri Nikhil PathakFor Respondent: Shri Pankaj Garg
Section 143(3)Section 14A

…nvestment or not. The ld. DR placed reliance on the CBDT Circular No.5/2014 dated 11.02.2014 and the decision of Amritsar Bench of A.Ys.2009-10 & 2012-13 the Tribunal in the case of Lally Motors India (P) Ltd. Vs. Pr. Commissioner of Income Tax reported as 170 ITD 370. 5. We have heard the submissions made by representatives of rival sides and have perused the orders of Authorities below. The solitary issue raised in both the appeals is with respect to disallowances made u/s.14A r.w.r.8D as under: Assessment year Disallowance 2009-10 Rs.5,12,810/- 2012-13 Rs.52,14,723/- A perusal of the assessment order…