ACIT v. Eicher Ltd.

101 TTJ 369Income Tax Appellate Tribunal2006#3266 most cited

What is ACIT v. Eicher Ltd. authority for?

The Assessing Officer must establish a nexus between expenses incurred and the earning of exempt income before making any disallowance under Section 14A. The burden of proof lies with the Revenue.

37

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2012 to 2026.

Also referred to as

ACIT v. Eicher Ltd. · Section 14A · disallowance · exempt income · burden of proof · Assessing Officer · nexus of expenses

Also reported as

22 SOT 368

Sections most often in play

Section 115JBSection 14ASection 37(1)Section 92CA(3)Section 250Section 143(3)Section 80G

Issues it is cited on

section 8d(2)(ii)section 14(2)section 8dsection 33bsection 134section 198section 80ia(5)section 14a(1)section 197astrategic investmentset off of lossessection 40(a)(ii)

Judgments citing ACIT v. Eicher Ltd.

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

ITA 1697/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…e. West Bengal Infrastructure Development Finance Corporation Ltd [2023] 149 taxmann.com 181 (Calcutta) f. Maruti Udyog Ltd. v. DCIT (2005) 92 ITD 119 (Del) (A. Y. 1999- 2000) g. Jindal Saw Pipes Ltd. [2008] 118 TTJ 228 (Delhi) h. ACIT v. Eicher Ltd. [(2006) 101 TTJ 369 (Del)] i. Impulse (India) (P) Ltd v. ACIT[(2008) 22 SOT 368 (Del)] Page 35 ITA Nos.: 466, 622, 467, 623/KOL/2018 & 1406, 1696, 1407, 1697/KOL/2019 AYs: 2011-12 to 2014-15 M/s. Coal India Ltd. 7.7 It is also submitted that no disallowance u/s 14A of the Act can be made as the Apex Charges from its subsidiary companies due to various management, su…

M/S COAL INDIA LTD.,KOLKATA vs. DCIT, CIR-5(1), , KOLKATA

ITA 1407/KOL/2019[2014-15]Status: DisposedITAT Kolkata20 Jan 2026AY 2014-15

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 1Section 115JSection 250

…e. West Bengal Infrastructure Development Finance Corporation Ltd [2023] 149 taxmann.com 181 (Calcutta) f. Maruti Udyog Ltd. v. DCIT (2005) 92 ITD 119 (Del) (A. Y. 1999- 2000) g. Jindal Saw Pipes Ltd. [2008] 118 TTJ 228 (Delhi) h. ACIT v. Eicher Ltd. [(2006) 101 TTJ 369 (Del)] i. Impulse (India) (P) Ltd v. ACIT[(2008) 22 SOT 368 (Del)] 7.7 It is also submitted that no disallowance u/s 14A of the Act can be made as the Apex Charges from its subsidiary companies due to various management, supervisory, control, consultancy, services provided by CIL to its subsidiaries, which have been duly offered to tax and a sum…

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

ITA 622/KOL/2018[2011-12]Status: DisposedITAT Kolkata20 Jan 2026AY 2011-12

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

Section 115JSection 250

…e. West Bengal Infrastructure Development Finance Corporation Ltd [2023] 149 taxmann.com 181 (Calcutta) f. Maruti Udyog Ltd. v. DCIT (2005) 92 ITD 119 (Del) (A. Y. 1999- 2000) g. Jindal Saw Pipes Ltd. [2008] 118 TTJ 228 (Delhi) h. ACIT v. Eicher Ltd. [(2006) 101 TTJ 369 (Del)] i. Impulse (India) (P) Ltd v. ACIT[(2008) 22 SOT 368 (Del)] 7.7 It is also submitted that no disallowance u/s 14A of the Act can be made as the Apex Charges from its subsidiary companies due to various management, supervisory, control, consultancy, services provided by CIL to its subsidiaries, which have been duly offered to tax and a sum…

THOMAS COOK (INDIA) LTD.,MUMBAI vs. ADDL/ JT/ DY/CIT/ASSTT/ITO, NATIONAL E-ASSESSMENT CENTRE, DELHI

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

ITA 1218/MUM/2021[2016-17]Status: DisposedITAT Mumbai24 Nov 2023AY 2016-17

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Ble

Section 92CSection 92C(3)

…Ltd. VsDy.CIT [2005] 92 TTJ 987 (Del.) "It was, inter alia, held in this case that onus is on the Revenue to prove that interest paid by the assessee on borrowed funds related to the acquisition of shares yielding tax-free income."  ACIT vsEicher Ltd. [2006] 101 TTJ 369 (Del.). "It was held in this case that burden is on the AO to establish nexus of expenses incurred with the earning of exempt income, before making any disallowance under section 14A." Accordingly, your goodself will appreciate the fact that section 14A of the Act has no application in the absence of any direct expenditure actually incurred by th…

DCIT, NEW DELHI vs. M/S. HERO HONDA MOTORS LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 6302/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…DCIT Act. For the aforesaid argument, the Ld. AR relied on the following decisions: - Maxxop Investment Ltd. v. CIT: 402 ITR 640 (SC) - DLF Ltd. vs. CIT: 27 SOT 22 (Del. ITAT) – Affirmed by Delhi High Court (350 ITR 555) - Impulse (India) (P.) Ltd. vs. ACIT: 22 SOT 368 (Del. ITAT) - Minda Investments Ltd. vs. DCIT: 48 SOT 169 (Del. ITAT) - PukhrajChunilalBafna vs. DCIT: 65 SOT 187 (Mum. ITAT) - DCIT vs. Smita Conductors Ltd.: 16 SOT 251 (Mum. ITAT) - DCIT vs. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Amr. ITAT) - CIT v. Catholic Syrian Bank Ltd.:237 CTR 164/207 Taxman 2 (Kar.) 3.0.6 The Ld. AR submitted that in…

M/S. HERO MOTOCORP LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the Revenue is dismissed

ITA 6282/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…DCIT Act. For the aforesaid argument, the Ld. AR relied on the following decisions: - Maxxop Investment Ltd. v. CIT: 402 ITR 640 (SC) - DLF Ltd. vs. CIT: 27 SOT 22 (Del. ITAT) – Affirmed by Delhi High Court (350 ITR 555) - Impulse (India) (P.) Ltd. vs. ACIT: 22 SOT 368 (Del. ITAT) - Minda Investments Ltd. vs. DCIT: 48 SOT 169 (Del. ITAT) - PukhrajChunilalBafna vs. DCIT: 65 SOT 187 (Mum. ITAT) - DCIT vs. Smita Conductors Ltd.: 16 SOT 251 (Mum. ITAT) - DCIT vs. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Amr. ITAT) - CIT v. Catholic Syrian Bank Ltd.:237 CTR 164/207 Taxman 2 (Kar.) 3.0.6 The Ld. AR submitted that in…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5232/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5231/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

PETRONET LNG LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Appeal of the assessee is allowed

ITA 5230/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4904/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4903/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

DCIT, NEW DELHI vs. M/S. PETRONET LNG LTD., NEW DELHI

Appeal of the assessee is allowed

ITA 4902/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…hare & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued that the assessee has not earned any dividend from certain investments which may not be taken into consideration while computing the disallowance. 40. On th…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

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

ITA 6482/MUM/2010[2000-01]Status: DisposedITAT Mumbai06 Mar 2020AY 2000-01

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6482 /Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) State Bank Of India बिधम/ Acit Range-2(2) Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. Ita. No. 6822/Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) Acit Range-2(2) बिधम/ State Bank Of India Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs8577K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Girish Dave/Urvi Mehta Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 12/12/2019 घोषणा की तारीख /Date Of Pronouncement: 06/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue As Well As Assessee Have Filed The Above Mentioned Appeals Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000-01. Ita. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 2. The Assessee Has Filed The Present Appeal Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-05, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000- 01. 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Girish Dave/Urvi MehtaFor Respondent: Shri Awungshi Gimson (DR)
Section 14ASection 43D

…section 14A applies only when expenditure is actually incurred and there are numerous judicial decision in favour of assessee‟s Bank viz. CIT vs. Central Bank of India 264 ITR 522(Bom), CIT vs. General Insurance Corpn. Of India 254 ITR 203(Bom), Eicher Ltd. (101 TTJ 369) (Del), Dhanlakshmi Bank Ltd. vs. ACIT 12 SOT 625 (Cochin), CIT vs. Hero Cycles Ltd. 323 ITR 518) (Punjab & Haryana High Court). The ld. AR further argued that as per guidelines laid down by Reserve Bank of India, the bank has to invest interest free securities to maintain Statutory Liquidity Ratio (SLR). The rate of return on tax free deployment…

THE ACIT,(OSD)CIRCLE-8,, AHMEDABAD vs. TORRENT POWER LTD.,, AHMEDABAD

In the result, the appeal of the Revenue and the Cross-objection of the assessee, both are dismissed

ITA 1668/AHD/2012[2006-07]Status: DisposedITAT Ahmedabad05 Mar 2020AY 2006-07

Bench: Shri Sandeep Gosain & Shri Amarjit Singh

For Appellant: Shri Vartik ChowkshiFor Respondent: Shri Samir Tekriwal, CIT-DR
Section 115JSection 14Section 143(3)Section 14A

…nternational (P.) Ltd. vs. Deputy Commissioner of Income Tax 185 Taxman 103 III. Deputy Commissioner of Income-tax, Range 3(1), Mumbai vs. Beck India Ltd. 26 SOT 141 IV. Impulse (India) (P.) Ltd. :vs_ _ Assistant Commissioner. of Income-tax (OSD), New Delhi 22 SOT 368. V. CIT vs. Hero Cycles Ltd. [2010] 189 Taxman 50 (P& H High Court) . Without prejudice to the above, it may be appreciated that the appellant is having enough share capital and reserves and surplus of the aggregate amount of Rs.2,60, 718 lakh as against investment in shares / mutual fund of only Rs. 19,510 lakh. Thus the appellant is having eno…

M/S. UNITECH INFRA- CON LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal is allowed

ITA 6679/DEL/2015[2010-11]Status: DisposedITAT Delhi15 Nov 2019AY 2010-11

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

Section 14ASection 14A(2)Section 250

…s was not just. The assessee also relied on several decided precedents during appellate proceedings before the learned CIT(A), which included the following decisions:- 1. Wimco Seedings Ltd. Vs. DCIT. 107 ITD 267 (Del) 2. Impulse (India) (P) Ltd. vs. ACIT, 22 SOT 368(Del). 3. Maruti Udyog Ltd. vs. DCIT, 92 ITD 119 (Del). 4. CIT vs. Walfort Share and Stock Brokers (P) Ltd. 326 ITR 1 (SC). 5. CIT vs. Calcutta Agency Ltd. [195] 19 ITR 191. 6. Saraswati Industrial Syndicate Ltd. vs. CIT [1982] 136 ITR 361. 7. The Printers House Pvt. Ltd. in ITA No. 227/2009 dated 16.04.2009. 8. CIT vs. Hindustan Tin Works Limited…

DCIT, NEW DELHI vs. M/S JSL LTD.,, HISAR

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

… CIT v. Adarsh Kumar Goel: [2011] 199 Taxman 149 (Punj. &Har.)(Mag.)  Wimco Seedlings Limited vs. DCIT : 107 ITD 267 (Del.)(TM)  Minda Investments Ltd. v. DCIT: 138 TTJ 240 (Del.)  Maruti Udyog Limited V. DCIT: 92 ITD 119 (Del.)  ACIT v. Eicher Limited: 101 TTJ 369 (Del.)  DLF Ltd. vs. CIT: 27 SOT 22 (Del)  Punjab National Bank V. DCIT: 103 TTJ 908 (Del.)  Vidyut Investment Ltd: [2006] 10 SOT 284 (Del.)  Impulse (India) Pvt. Ltd.: (2008) 22 SOT 368 (Del.)  D.J. Mehta v. ITO: 290 ITR 238 (Mum.)(AT)  Jindal Photo Ltd vs. DCIT: ITA No. 814 (Del) 2011  CIT v. K. Raheja Corporation Ltd.: ITA No. 1260/2009…

JINDAL STAINLESS LTD.,HISAR vs. DCIT, NEW DELHI

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

… CIT v. Adarsh Kumar Goel: [2011] 199 Taxman 149 (Punj. &Har.)(Mag.)  Wimco Seedlings Limited vs. DCIT : 107 ITD 267 (Del.)(TM)  Minda Investments Ltd. v. DCIT: 138 TTJ 240 (Del.)  Maruti Udyog Limited V. DCIT: 92 ITD 119 (Del.)  ACIT v. Eicher Limited: 101 TTJ 369 (Del.)  DLF Ltd. vs. CIT: 27 SOT 22 (Del)  Punjab National Bank V. DCIT: 103 TTJ 908 (Del.)  Vidyut Investment Ltd: [2006] 10 SOT 284 (Del.)  Impulse (India) Pvt. Ltd.: (2008) 22 SOT 368 (Del.)  D.J. Mehta v. ITO: 290 ITR 238 (Mum.)(AT)  Jindal Photo Ltd vs. DCIT: ITA No. 814 (Del) 2011  CIT v. K. Raheja Corporation Ltd.: ITA No. 1260/2009…

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

…313 ITR 340 (Bom) , CIT v. Torrent Power Ltd.: 363 ITR 474 (Guj). 6.3. Reference can also be made to the decisions in Chemical & Mettallurgical Design Co. Ltd : ITA No. 803/2008 (Delhi), CIT Vs Ms. Sushma Kapoor : 319 ITR 299 (Delhi), ACIT v. Eicher Limited: 101 TTJ 369 (Del.) , Maruti Udyog Limited V. DCIT: 92 ITD 119 (Del.), on the aspect of section 14A of the Act, wherein it has been held that without any cogent basis and material on record, no artificial/ ad-hoc disallowance is permissible for expenses incurred by the assessee, and the legal position that emerges from the these decisions is that: (a) there m…

THE DY. CIT-1(2),, RAIPUR (CG) vs. M/S. SAUMYA MINING LTD.,, RAIPUR (CG)

In the result, appeal filed by the Revenue is dismissed

ITA 150/BIL/2013[2010-11]Status: DisposedITAT Raipur31 Jan 2018AY 2010-11
For Appellant: Shri Praveen Jain, ARFor Respondent: Shri P.K.Mishra, CITDR
Section 14ASection 194C

…i) Maxopp Investment Ltd. vs. CIT (Delhi High Court) 247 CTR (Del) 162. (viii) CIT vs. Hero Cycles Ltd. 189 Taxman 50; (ix) Everest Kanto Cylinder Ltd. vs. DCIT (LTU), ITA No. 5421Mum/2012. (x) Impulse India (P) Ltd. vs. Asst. Commissioner of Income Tax (OSD) 22 SOT 368 (Del); (xi) Wimco Seedling Limited vs. Dy. CIr- 107 ITR 267; (xii) BNP Paribas SA vs. Dy.DIT (2012) 137 ITD 322 (Mum.) (Trib.) (xiii) DIT(IT) - II vs. BNP Paribas SA (2013) 32 Taxman.com 276 (Born.) dt. February 14th 2013. 18 (xiv) DCIT Cir-3(2) Hyderabad (2013) 33 Taxman.com 447 (Hyd) dt. April 5, 2013. (xv) Godrej & Boyce Manufacturing Company L…

STATE BANK OF INDIA,MUMBAI vs. ACIT CIR 2(2),

In the result, appeal of the revenue is dismissed

ITA 4736/MUM/2010[1999-2000]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-2000

Bench: Shri G.S. Pannu & Shri Pawan Singhstate Bank Of India Acit Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent) Acit Circle (2)(2), State Bank Of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent)

For Respondent: Shri R.P. Meena (CIT-DR)
Section 14ASection 195Section 253Section 254(1)Section 36(1)(viia)Section 40Section 43D

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “A”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER State Bank of India ACIT Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) ACIT Circle (2)(2), State Bank of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) Assessee by Shri Girish Dave & Urvi : Mehta (AR) Revenue by…

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