ACB India Ltd. v. ACIT

374 ITR 108High Court2015#205 most cited

What is ACB India Ltd. v. ACIT authority for?

When computing disallowance under Section 14A of the Income-tax Act using Rule 8D of the Income-tax Rules, only investments that have actually yielded exempt income during the relevant previous year are to be considered for the calculation.

364

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

ACB India Ltd v ACIT · Section 14A · Rule 8D · disallowance under Section 14A · expenditure for exempt income · investments yielding exempt income · computation of disallowance · Delhi High Court 374 ITR 108 · non-yielding investments · average investments Rule 8D

Also reported as

62 Taxmann.com 71235 Taxmann 22

Sections most often in play

Section 14ASection 143(3)Section 153ASection 1961Section 80ICSection 153DSection 132(1)Section 56(2)(x)

Issues it is cited on

section 153a proceedingsstrategic investmentsection 14a(2)section 80icdisallowance under section 14asection 115jb(2)section 56(2)(x)valuation of sharesdisallowance u/s 14asection 139(5)disallowance of interest expendituresection 92b

Judgments citing ACB India Ltd. v. ACIT

Fiitjee Limited., New Delhi vs. ACIT Circle-25(2), New Delhi

The appeals are allowed partly

ITA 334/DEL/2021[2011-12]Status: DisposedITAT Delhi29 Oct 2025AY 2011-12

Bench: Shri Anubhav Sharma & Shri Krinwant Sahay

For Appellant: Shri C.S. Agarwal, Sr. Advocate; &For Respondent: Ms Monika Singh, CIT-DR
Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER ITAs No.333 & 334/Del/2021 Assessment Years : 2010-11 & 2011-12 M/s FIITJEE Limited, Vs. ACIT, 29A, Kalu Sarai, Central Circle-06, Sarvapriya Vihar, Delhi. Delhi – 110 057. PAN: AAACF2659M Assessee by : Shri C.S. Agarwal, Sr. Advocate; & Shri Ravi Pratap Mall, Shri Uma Shankar &Shri Anil Bajaj, Advocates Revenue by : Ms Monika Singh, CIT-DR Date of Hearing : 18.08.2025 Date of Pronouncement : 29.10.2025 ORDER PER ANUBHAV SHARMA, JM: These are appeals preferre…

Fiitjee Limited., New Delhi vs. ACIT Circle-25(2), New Delhi

The appeals are allowed partly

ITA 333/DEL/2021[2010-11]Status: DisposedITAT Delhi29 Oct 2025AY 2010-11

Bench: Shri Anubhav Sharma & Shri Krinwant Sahay

For Appellant: Shri C.S. Agarwal, Sr. Advocate; &For Respondent: Ms Monika Singh, CIT-DR
Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER ITAs No.333 & 334/Del/2021 Assessment Years : 2010-11 & 2011-12 M/s FIITJEE Limited, Vs. ACIT, 29A, Kalu Sarai, Central Circle-06, Sarvapriya Vihar, Delhi. Delhi – 110 057. PAN: AAACF2659M Assessee by : Shri C.S. Agarwal, Sr. Advocate; & Shri Ravi Pratap Mall, Shri Uma Shankar &Shri Anil Bajaj, Advocates Revenue by : Ms Monika Singh, CIT-DR Date of Hearing : 18.08.2025 Date of Pronouncement : 29.10.2025 ORDER PER ANUBHAV SHARMA, JM: These are appeals preferre…

Opelina Finance and Investment Ltd., Delhi vs. ITO, Ward- 19(2), New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 1423/DEL/2018[2014-15]Status: DisposedITAT Delhi15 Oct 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2014-15] M/S. Opelina Finance & Vs Ito, Investment Ltd., 28, Nazafgarh Ward-19(2), Room Road, Delhi-110015. No.217, C.R.Building, Pan-Aaaco5195R New Delhi-110002. Appellant Respondent Appellant By Shri Salil Kapoor, Ms. Soumya Singh, Ms. Ananya Kapoor, Shri Utkarsh Kumar Gupta, Advocates Respondent By Ms. Harpreet Kaur Hansra, Sr.Dr Date Of Hearing 17.07.2025 Date Of Pronouncement 15.10.2025 Order

Section 143(3)Section 14ASection 234ASection 250Section 271(1)(c)

…of average value of investment it was contended that those investments which had earned exempt income should only be considered. For this, reliance is placed on the judgment of Hon’ble Delhi High Court in the case of ACB India LTd. vs ACIT [2015] reported in 374 ITR 108, in the case of Pr.CIT-2 vs Caraf Builders and constructions P. Ltd.[2019] 414 ITR 122 in which the SLP filed before Hon’ble Supreme Court was also dismissed vide SLP (C) Dairy No.25130/2019 vide order dated 30.08.2019. In the aforesaid judgements, it is held by the Hon’ble Courts that for the purpose of computing the disallowance under Clause (i…

DCIT, Circle - 10(1), New Delhi vs. Indian Sugar Exim Corporation Limited, South East Delhi

ITA 5033/DEL/2024[2016-17]Status: DisposedITAT Delhi13 Oct 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahmanita No. 4744/Del/2024 : Asstt. Year : 2016-17 Indian Sugar Exim Corporation Ltd. Vs Acit, C-Block, 2Nd Floor, Ansal Plaza, Circle-12(1), August Kranti Marg, Andrews Ganj, New Delhi-110002 New Delhi-110049 (Appellant) (Respondent) Pan No. Aaaci1163M

For Appellant: Sh. Sumit Jain, CAFor Respondent: Sh. Manish Gupta, Sr. DR
Section 143(3)Section 14ASection 37

…rest on tax free bonds etc. And that the impugned disallowance is in the nature of administrative expenditure under Rule 8D(2)(iii) of the Income Tax Rules wherein the department fails to rebut the clinching settled proposition in ACB Industries Ltd. vs. ACIT 374 ITR 108 (Del.) that the same ought to be computed only qua the exempt income yielding investments. We accordingly direct the learned Assessing Officer to finalize his afresh computation as per law in very terms. 7. All other grounds raised at the assessee’s behest have not been pressed during the course of hearing. Indian Sugar Exim Corporation Ltd. 8.…

Indian Sugar Exim Corporation Ltd, New Delhi vs. ACIT Circle 12(1), C R Building, New Delhi

ITA 4744/DEL/2024[2016-17]Status: DisposedITAT Delhi13 Oct 2025AY 2016-17

Bench: Sh. Satbeer Singh Godara & Sh. S. Rifaur Rahmanita No. 4744/Del/2024 : Asstt. Year : 2016-17 Indian Sugar Exim Corporation Ltd. Vs Acit, C-Block, 2Nd Floor, Ansal Plaza, Circle-12(1), August Kranti Marg, Andrews Ganj, New Delhi-110002 New Delhi-110049 (Appellant) (Respondent) Pan No. Aaaci1163M

For Appellant: Sh. Sumit Jain, CAFor Respondent: Sh. Manish Gupta, Sr. DR
Section 143(3)Section 14ASection 37

…rest on tax free bonds etc. And that the impugned disallowance is in the nature of administrative expenditure under Rule 8D(2)(iii) of the Income Tax Rules wherein the department fails to rebut the clinching settled proposition in ACB Industries Ltd. vs. ACIT 374 ITR 108 (Del.) that the same ought to be computed only qua the exempt income yielding investments. We accordingly direct the learned Assessing Officer to finalize his afresh computation as per law in very terms. 7. All other grounds raised at the assessee’s behest have not been pressed during the course of hearing. Indian Sugar Exim Corporation Ltd. 8.…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…empt income to be excluded, ld. AR relied on the following decisions :-  PCIT v. Caraf Builders & Constructions (P.) Ltd.: 414 ITR 122 (Del) – SLP filed by the Department dismissed in SLP(C) No. 25130/2019 reported in 268 Taxman 317  ACB India Ltd. v. ACIT: 374 ITR 108 (Del.)  REI Agro Ltd v. DCIT: 144 ITD 141 (Kol. Trib.) – Revenue appeal dismissed by Calcutta HC in appeal No.GA No.3581 of 2013  ACIT v. Vireet Investments Pvt. Ltd.: 165 ITD 27 / 188 TTJ 1 (Del Trib.) (SB)  Religare Enterprises Ltd. v. DCIT: 1549/Del/2014 (Del Trib.)  11. It is submitted that if only the dividend yielding investments are co…

DCIT, New Delhi vs. M/S. Maruti Suzuki India Ltd., New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…empt income to be excluded, ld. AR relied on the following decisions :-  PCIT v. Caraf Builders & Constructions (P.) Ltd.: 414 ITR 122 (Del) – SLP filed by the Department dismissed in SLP(C) No. 25130/2019 reported in 268 Taxman 317  ACB India Ltd. v. ACIT: 374 ITR 108 (Del.)  REI Agro Ltd v. DCIT: 144 ITD 141 (Kol. Trib.) – Revenue appeal dismissed by Calcutta HC in appeal No.GA No.3581 of 2013  ACIT v. Vireet Investments Pvt. Ltd.: 165 ITD 27 / 188 TTJ 1 (Del Trib.) (SB)  Religare Enterprises Ltd. v. DCIT: 1549/Del/2014 (Del Trib.)  11. It is submitted that if only the dividend yielding investments are co…

DCIT, C-V, Ludhiana vs. M/S Hero Cycles Ltd., Ludhiana

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

ITA 588/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

For Appellant: Shri Ashwani Kumar, Shri Ashish Aggarwal &For Respondent: Shri Manav Bansal, CIT, DR
Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

…4,48,717-91,61,536) Rs. 2.02,87,181 Total Relief (1,02,82,974 + 2,02,87,181) Rs. 3,05.70,155 Only those investments are to be considered which have yielded exempt income for making disallowance under rule 8D(2)(ii) and rule 8D(2)(iii) (ACB India Ltd vs. ACIT 374 ITR 108 Del). In nutshell the submissions are that no disallowance is called for under rule 8D(2)(ii) because of availability of own funds and the disallowance under rule 8D(2)(iii) would work out to Rs. 91,61,536/- i) As regards the disallowance made by the assessee suo-moto under rule 8D(2)(ii) of Rs. 1,02,82,974 / - , the same is not sustainable as t…

M/S. Enam Holding Pvt Ltd, Mumbai vs. ACIT 4(1), Mumbai

In the result, the Assessee’s appeal is allowed

ITA 27/MUM/2025[2018-19]Status: DisposedITAT Mumbai29 Aug 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2018-19

For Appellant: Shri Dharan Gandhi, Ld. A.RFor Respondent: Shri Hemanshu Joshi, Ld. D.R
Section 14ASection 250

…to be made, then the same be restricted in respect of those investments, which have yielded the exempt income during the AY under consideration but not the total investments, as held by the Hon’ble Delhi High Court in the case of ACB India Ltd. vs. CIT (2015) 374 ITR 108 (Del.) and Special Bench of the Tribunal in the case of ACIT vs. Vireet Investments (P) Ltd. (2017) 165 ITD 27 (Delhi) (SB). 4. The Ld. D.R. though refuted the claim of the Assessee but not the judgments referred to above. 5. Heard the parties and perused the material available on record. Admittedly, the Hon’ble Delhi High Court in the case of…

Gvn Fuels Limited, Howrah vs. DCIT, Circle 13(1), Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 402/KOL/2025[2016-17]Status: DisposedITAT Kolkata29 Jul 2025AY 2016-17

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Gvn Fuels Limited Dcit, Cir-13(1) 251, Jindal Mansion, Aayakar Bhavan, 110, G.T. Road Liluah, Shantipally, E.M. Bypass, Vs. Howrah-711204, Kolkata-700107 West Bengal West Bengal (Appellant) (Respondent) Pan No. Aaacg9200D Assessee By : Shri Sunil Surana, Ar Revenue By : Shri Sandip Sarkard, Dr Date Of Hearing: 16.07.2025 Date Of Pronouncement: 29.07.2025

For Appellant: Shri Sunil Surana, ARFor Respondent: Shri Sandip Sarkard, DR
Section 143(3)Section 14ASection 8D

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM GVN Fuels Limited DCIT, Cir-13(1) 251, Jindal Mansion, Aayakar Bhavan, 110, G.T. Road Liluah, Shantipally, E.M. Bypass, Vs. Howrah-711204, Kolkata-700107 West Bengal West Bengal (Appellant) (Respondent) PAN No. AAACG9200D Assessee by : Shri Sunil Surana, AR Revenue by : Shri Sandip Sarkard, DR Date of hearing: 16.07.2025 Date of pronouncement: 29.07.2025 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (h…

Dai-Ichi Karkaria Limited, Mumbai vs. DCIT, Circle-1(1)(1), Mumbai

In the result, ground no. 4 of the assessee is allowed

ITA 1588/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Jun 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI PRABHASH SHANKAR (Accountant Member)

Section 115JSection 14ASection 254(1)Section 270A

…see has made much more suo moto disallowances. The AO further added the disallowance of 14A to book profit under section 115JB. To support he submissions, the Ld. AR to support his various submission relied upon the various decision in ❖ ACB India Ltd. v. CIT 374 ITR 108 (Delhi HC), ❖ Asia Investments Pvt. Ltd. v. ACIT ITA No. 5820/Mum/2015, ❖ J. V Holdings v. DCIT ITA No. 1337/Bang/2018, ❖ REI Agro Ltd. v. DCIT 160 TTJ 107 (Kolkata Tribunal), ❖ Air India Ltd. v. ACIT ITA No. 5632/Mum/2024, ❖ ACIT v. Vireet Investment Ltd. 82 taxmann.com 415 (Delhi Tribunal) (SB), ❖ Infina Finance Pvt. Ltd. v. ACIT 413 to 416/Mum…

Gyan Enterprises Private Limited, Delhi vs. DCIT Circle 10(2), New Delhi

ITA 94/DEL/2024[2014-15]Status: DisposedITAT Delhi27 May 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 94, 93 & 92/Del/2024 Assessment Years: 2014-15, 2015-16 & 2017-18 Vs. DCIT, M/s. Gyan Enterprises Pvt. Ltd., 4th Floor, Punjabi Bhawan, Circle-10(2), 10 Rouse Avenue, New Delhi Delhi PAN: AAACG0512G (Appellant) (Respondent) With ITA Nos. 109 & 176/Del/2024 Assessment Years: 2014-15 & 2015-16 Vs. M/s. Gyan Enterprises Pvt. Ltd., ACIT (OSD), Range-10, 4th Floor, Punjabi Bhawan, New Delhi 10 Rouse Avenue, Delhi PAN: AAACG0512G (Appellant) (Respondent)…

Gyan Enterprises Private Limited, New Delhi vs. ACIT Circle 10(2), New Delhi

ITA 93/DEL/2024[2015-16]Status: DisposedITAT Delhi27 May 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 94, 93 & 92/Del/2024 Assessment Years: 2014-15, 2015-16 & 2017-18 Vs. DCIT, M/s. Gyan Enterprises Pvt. Ltd., 4th Floor, Punjabi Bhawan, Circle-10(2), 10 Rouse Avenue, New Delhi Delhi PAN: AAACG0512G (Appellant) (Respondent) With ITA Nos. 109 & 176/Del/2024 Assessment Years: 2014-15 & 2015-16 Vs. M/s. Gyan Enterprises Pvt. Ltd., ACIT (OSD), Range-10, 4th Floor, Punjabi Bhawan, New Delhi 10 Rouse Avenue, Delhi PAN: AAACG0512G (Appellant) (Respondent)…

Gyan Enterprises Pvt Ltd, New Delhi vs. DCIT Circle 10(2), New Delhi

ITA 92/DEL/2024[2017-18]Status: DisposedITAT Delhi27 May 2025AY 2017-18

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 94, 93 & 92/Del/2024 Assessment Years: 2014-15, 2015-16 & 2017-18 Vs. DCIT, M/s. Gyan Enterprises Pvt. Ltd., 4th Floor, Punjabi Bhawan, Circle-10(2), 10 Rouse Avenue, New Delhi Delhi PAN: AAACG0512G (Appellant) (Respondent) With ITA Nos. 109 & 176/Del/2024 Assessment Years: 2014-15 & 2015-16 Vs. M/s. Gyan Enterprises Pvt. Ltd., ACIT (OSD), Range-10, 4th Floor, Punjabi Bhawan, New Delhi 10 Rouse Avenue, Delhi PAN: AAACG0512G (Appellant) (Respondent)…

ACIT(OSD), Range-10, New Delhi, C.R. Building ITO vs. Gyan Enterprises Pvt. Ltd., Rouse Avenue, New Delhi

ITA 176/DEL/2024[2015-16]Status: DisposedITAT Delhi27 May 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 94, 93 & 92/Del/2024 Assessment Years: 2014-15, 2015-16 & 2017-18 Vs. DCIT, M/s. Gyan Enterprises Pvt. Ltd., 4th Floor, Punjabi Bhawan, Circle-10(2), 10 Rouse Avenue, New Delhi Delhi PAN: AAACG0512G (Appellant) (Respondent) With ITA Nos. 109 & 176/Del/2024 Assessment Years: 2014-15 & 2015-16 Vs. M/s. Gyan Enterprises Pvt. Ltd., ACIT (OSD), Range-10, 4th Floor, Punjabi Bhawan, New Delhi 10 Rouse Avenue, Delhi PAN: AAACG0512G (Appellant) (Respondent)…

ACIT(OSD), Range-10, New Delhi, C.R. Building, ITO New Delhi vs. Gyan Enterprises Pvt. Ltd., Punjabi Bhawan, Delhi

ITA 109/DEL/2024[2014-15]Status: DisposedITAT Delhi27 May 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 143(3)Section 14ASection 36(1)(iii)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos. 94, 93 & 92/Del/2024 Assessment Years: 2014-15, 2015-16 & 2017-18 Vs. DCIT, M/s. Gyan Enterprises Pvt. Ltd., 4th Floor, Punjabi Bhawan, Circle-10(2), 10 Rouse Avenue, New Delhi Delhi PAN: AAACG0512G (Appellant) (Respondent) With ITA Nos. 109 & 176/Del/2024 Assessment Years: 2014-15 & 2015-16 Vs. M/s. Gyan Enterprises Pvt. Ltd., ACIT (OSD), Range-10, 4th Floor, Punjabi Bhawan, New Delhi 10 Rouse Avenue, Delhi PAN: AAACG0512G (Appellant) (Respondent)…

Addi. CIT Spl. Range-9, New Delhi vs. The Hindustan Times Ltd., New Delhi

In the result, appeal of Revenue in ITA No

ITA 7597/DEL/2019[2015-16]Status: DisposedITAT Delhi08 May 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Naveen Chandra

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri V.K. Dubey, Sr. DR
Section 14Section 14ASection 14A(2)

…ded exempt income is to be considered while working out the computation mechanism provided in Rule 8D(2) of the Rules. This view of ours is further fortified by the decision of Hon’ble Jurisdictional High Court in the case of ACB India Ltd vs ACIT reported in 374 ITR 108 (Del) and PCIT vs Caraf Builders & Constructions P Ltd reported in 414 ITR 122 (Del). 6.6. In view of the aforesaid observations, we hold that the ld. AO had not recorded any objective satisfaction having regard to the accounts of the assessee as to why the suo moto disallowance made by the assessee is incorrect. Respectfully following the decis…

Rays Power Experts Private Limited, Jaipur vs. Assistant Commissioner of Income Tax, Circle 2, Jaipur

In the result, the appeal of the assesee is allowed for statistical purposes as indicated hereinabove

ITA 1086/JPR/2024[2017-18]Status: DisposedITAT Jaipur18 Mar 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Anand Pareek, AdvocateFor Respondent: Smt. Runi Pal, CIT- DR a
Section 115BSection 143(3)Section 14ASection 250Section 68

…ith respect to upholding the value of shares adopted for disallowance under 14A of the Income Tax Act, 1961 ('the Act') by applying Rule 8D(2). The issue is covered by a judgment of this Court in ACB India Ltd. vs. Assistant Commissioner of Income Tax. [2015] 374 ITR 108 (Del) against the Revenue. Consequeritly, no question of law arises." Following above decision, I direct the LJAO to calculate disallowance following above directions of Hon'ble HC 'that only those investments are to be considered for computing average value of investment which yielded exempt income during the year. Incase calculated amount as pe…

Gyan Enterprises Private Limited, New Delhi vs. National E Assessment Center, New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 2332/DEL/2024[2018-2019]Status: DisposedITAT Delhi18 Mar 2025AY 2018-2019

Bench: Shri Challa Nagendra Prasad & Shribrajesh Kumar Singhआ.अ.सं/.I.T.A No.2332/Del/2024 िनधा"रणवष"/Assessment Year:2018-19 बनाम Gyan Enterprises Private National E-Assessment Vs. Limited, Center, Delhi-110002 Punjabi Bhawan, 10 Rouse Avenue, Delhi-110002 अपीलाथ" Appellant ""यथ"/Respondent Pan:Aaacg0512G

Section 10(34)Section 10(38)Section 143(3)Section 14A

…ion in the action of the assessee in excluding the dividends received from M/s Dabur India Ltd. In view of these facts, the Ld. CIT(A) held that the reliance of the assessee on the decision of the Hon’ble Delhi High Court in the case of ACB India Ltd vs ACIT: 374 ITR 108 was misplaced since the investment in DIL is an investment which has actually yielded tax exempt income and as per the 6 decision of the Jurisdictional High Court, it must be taken into account for computing the average investments. The Ld. CIT(A) further held that the decision in the case of CIT vs Holcim India (P) Ltd was also not applicable to…

Cosmic Informatics Pvt. Ltd., New Delhi vs. ACIT Central Circle - 2, New Delhi

In the result, appeal of the Revenue in appeal No

ITA 2444/DEL/2024[2017-18]Status: DisposedITAT Delhi02 Jan 2025AY 2017-18

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…t investment which yielded exempt income should be considered for making computation of the addition in terms of Rule 8D of the IT Rule, 1962 by placing reliance on the judgment of Hon’ble Delhi High Court in the case of ACB India Limited vs. ACIT reported in 347 ITR 108 (Delhi). It is also a matter of fact that assessee has not challenged such findings of ld. CIT(A) before us. DCIT vs. Lotus Hearbals Pvt. Ltd. 33. Since the assessee is having exempt income and have the investments from which exempt income was not earned besides having investments which yielded exempt income. It is also not in dispute that the p…