ACIT v. Eicher Ltd.

101 TTJ 369Income Tax Appellate Tribunal2006#3226 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 366,005 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.

ACIT Cir 2(2), Mumbai vs. State Bank of India, Mumbai

In the result, appeal of the revenue is dismissed

ITA 4598/MUM/2010[1999-00]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-00

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…

D.C.I.T., Circle-12, Kolkata vs. M/S Vantage Advertising Pvt. Ltd., Chennai

In the result the appeal by the revenue is dismissed

ITA 2616/KOL/2013[2010-2011]Status: DisposedITAT Kolkata03 Jan 2018AY 2010-2011

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

For Appellant: Md. Usman, CIT(DR)For Respondent: Shri J.P.Khaitan, Sr.Advocate &
Section 133(6)Section 14A

…of expenses u/s 14A of the Act. The following decisions relied upon by CIT(A) in coming to the aforesaid conclusion support the conclusion of CIT(A). 1. Advance Construction Co.Pvt. Ltd, Mumbai vs ACIT (2008-TIOL-281-ITAT- MUM): 2. ACIT vs Eicher Ltd. (2006) (101 TTJ 369) (Del-ITAT): Birla Group Holdings vs DCIT (2007) 13 SOT 642 (ITAT Mumbai). 3. Wimco Seedling Ltd. Vs DCIT (2007) 109 TTJ 462 (Del) (TM) We find no grounds to interfere with the order of the CIT(A). Accordingly, Ground No.2 raised by the revenue is dismissed. 12. Ground No.3 raised by the revenue reads as follows :- “3.In the facts and circumstan…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 6021/DEL/2012[2008-09]Status: DisposedITAT Delhi09 Nov 2017AY 2008-09

Bench: Shri N.K. Saini & Shri K.N. Charry

Section 143(3)Section 144CSection 144C(5)Section 14ASection 35DSection 43BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘I’ NEW DELHI BEFORE SHRI N.K. SAINI, ACCOUNTANT MEMBER & SHRI K.N. CHARRY, JUDICIAL MEMBER ITA No.-6021/Del/2012 (Assessment Year: 2008-09) Maruti Suzuki India Ltd. vs Addl. CIT Plot No. 1, Nelson Mandela Road, Range-6, Vasant Kunj, New Delhi. C.R. Building, PAN-AAACM0829Q New Delhi. (APPELLANT) (RESPONDENT) Assessee by Sh. Ajay Vohra Revenue by Sh. Aprender Kumar Date of Hearing 21.08.2017 Date of Pronouncement 09.11.2017 ORDER PER SHRI K.N. CHARY, JUDICIAL MEMBER This is an appeal challenging the order dated 29.10.2012 passed by the Assessing Officer u/…

DCIT (Ltu), New Delhi vs. M/S Whirlpool of India Ltd., Gurgaon

The appeals of the Revenue are dismissed

ITA 1849/DEL/2010[2002-03]Status: DisposedITAT Delhi20 Feb 2017AY 2002-03

Bench: Shri N. K. Saini & Ms Suchitra Kamble

Section 14ASection 36(1)

…ance to any ad-hoc or an estimated expenditure. It is only en expenditure actually incurred for earning an income exempt from tax that would be disallowed u/s 14A. Reliance of the Ld. AR in case of Maruti Udhyog Ltd. Vs. DCIT 92 ITD 119 & ACIT Vs. Eicher Ltd. 101 TTJ 369 Delhi wherein it was held that the word incurred as used in Section 14A clearly indicates that it must be shown as a fact that some expenditure was in-fact incurred by the assessee to produce exempt income. The register did not empowering the A.O to make an arbitrary estimate of expenditure and disallow the same. The CIT(A) has rightly relied on…

DCIT (Ltu), New Delhi vs. M/S Whirlpool of India Ltd., New Delhi

The appeals of the Revenue are dismissed

ITA 2285/DEL/2009[2001-02]Status: DisposedITAT Delhi20 Feb 2017AY 2001-02

Bench: Shri N. K. Saini & Ms Suchitra Kamble

Section 14ASection 36(1)

…ance to any ad-hoc or an estimated expenditure. It is only en expenditure actually incurred for earning an income exempt from tax that would be disallowed u/s 14A. Reliance of the Ld. AR in case of Maruti Udhyog Ltd. Vs. DCIT 92 ITD 119 & ACIT Vs. Eicher Ltd. 101 TTJ 369 Delhi wherein it was held that the word incurred as used in Section 14A clearly indicates that it must be shown as a fact that some expenditure was in-fact incurred by the assessee to produce exempt income. The register did not empowering the A.O to make an arbitrary estimate of expenditure and disallow the same. The CIT(A) has rightly relied on…

DCIT (Ltu), New Delhi vs. M/S. Exl Service.Com (India) Pvt. Ltd., New Delhi

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 615/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…Sushma Kapoor 319 ITR 299 (Del) " CIT Vs Metalman Auto P. Ltd. 336 ITR 434 (P&H) " CIT Vs Reliance Industries Ltd. 339 ITR 632 (Bom) " CIT Vs Torrent Power Ltd. 363 ITR 474 (Guj.) " Maxpax Investment Ltd. Vs ACIT 104 TTJ 881 (Del. Trib.) " ACIT Vs Eicher Ltd. 101 TTJ 369 (Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (Del.) " Wimco Seedlings Ltd. Vs DCIT 107 ITD 267 (Del.) ™ " DLF Ltd. Vs CIT 27 SOT 22 (Del.) " ACIT Vs Jindal Saw Pipes Ltd. 118 TTJ 228 (Del.) " Impulse ((India) (P) Ltd. Vs ACIT 22 SOT 368 (Del.) " ACIT Vs Champion Commercial Co. Ltd. in ITA No. 644/Kol./2012 " CIT Pilani Investment & Industries Co…

Exl Service.Com (India) Pvt. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 302/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…Sushma Kapoor 319 ITR 299 (Del) " CIT Vs Metalman Auto P. Ltd. 336 ITR 434 (P&H) " CIT Vs Reliance Industries Ltd. 339 ITR 632 (Bom) " CIT Vs Torrent Power Ltd. 363 ITR 474 (Guj.) " Maxpax Investment Ltd. Vs ACIT 104 TTJ 881 (Del. Trib.) " ACIT Vs Eicher Ltd. 101 TTJ 369 (Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (Del.) " Wimco Seedlings Ltd. Vs DCIT 107 ITD 267 (Del.) ™ " DLF Ltd. Vs CIT 27 SOT 22 (Del.) " ACIT Vs Jindal Saw Pipes Ltd. 118 TTJ 228 (Del.) " Impulse ((India) (P) Ltd. Vs ACIT 22 SOT 368 (Del.) " ACIT Vs Champion Commercial Co. Ltd. in ITA No. 644/Kol./2012 " CIT Pilani Investment & Industries Co…

ACIT, New Delhi vs. Sh. Rajan Berry, New Delhi

In the result, the appeal of the department is dismissed

ITA 2012/DEL/2014[2010-11]Status: DisposedITAT Delhi16 Dec 2016AY 2010-11

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 2012/Del/2014 : Asstt. Year : 2010-11 Asstt. Commissioner Of Income Vs Sh. Rajan Berry, Tax, Circle-27(1), B-67, Naraina Indl. Area, Phase-2, New Delhi New Delhi (Appellant) (Respondent) Pan No. Aaipb0802B Assessee By : Sh. Rahul Khare, Adv. Revenue By : Sh. F. R. Meena, Sr. Dr Date Of Hearing : 04.10.2016 Date Of Pronouncement : 16.12.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 02.01.2014 Of Ld. Cit(A)-Xxiv, New Delhi.

For Appellant: Sh. Rahul Khare, AdvFor Respondent: Sh. F. R. Meena, Sr. DR
Section 131Section 133(6)Section 143(1)Section 14A

…Investment Ltd. Vs CIT (2012) 347 ITR 272 (Del.) " CIT Vs Hero Cycles Ltd. (2010) 323 ITR 518 (P & H) " ACIT Vs SIL Investment Ltd. (2012) 54 SOT 54 (Del.) " Justice Sam P Barucha Vs ACIT in ITA No. 3889/Mum/2011 dated 25.07.2012 " ACIT Vs Eicher Ltd. (2006) 101 TTJ 369 (Del.) 16. Now the department is in appeal. The ld. DR strongly supported the order of the AO and reiterated the observations made in the assessment order dated 22.03.2013. 17. In his rival submissions the ld. Counsel for the assessee reiterated the submissions made before the authorities below and strongly supported the impugned order passed by…

M/S. Dell International Services India (P) Ltd., Noida vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 5522/DEL/2011[2007-08]Status: DisposedITAT Delhi08 Aug 2016AY 2007-08

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 5522/Del/2011 : Asstt. Year : 2007-08 M/S Dell International Services Vs Deputy Commissioner Of Income India Pvt. Ltd., (Formerly Known As Tax, Circle-14(1), Room No. 415, Perot Systems Tsi (India) Pvt. Central Revenue Building, Ltd.), Plot No. 3, Sector-125, New Delhi Noida-201301 (Appellant) (Respondent) Pan No. Aaach1925Q Assessee By : Sh. Vishal Kalra, Adv. & Sh. S. S. Tomar, Adv. & Sh. G. Gupta, Adv. Revenue By : Sh. N. C. Swain, Cit Dr Date Of Hearing : 02.08.2016 Date Of Pronouncement : 08.08.2016 Order Per N. K. Saini, Am:

For Appellant: Sh. Vishal Kalra, Adv. & Sh. S. SFor Respondent: Sh. N. C. Swain, CIT DR
Section 10(34)Section 10ASection 143(1)Section 143(3)Section 14ASection 234D

…tion with earning this dividend income and no disallowance was made by the company.” 6. The reliance was placed on the following case laws: 5 Dell International Services Pvt. Ltd. " Impulse India Pvt. Ltd. Vs ACIT 22 SOT 368 (ITAT Del.) " ACIT VS Eicher Ltd. 101 TTJ 369 (ITAT Del.) " Wimco Seedings Ltd. Vs DCIT 107 ITD 267 (ITAT Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (ITAT Del.) " CIT Vs Hero Cycles Ltd. 189 Taxman 50 (P&H) The AO did not find merit in the submissions of the assessee. 7. The assessee also raised the objection before the ld. DRP and submitted that the assessee had not incurred any expendit…

Avis Tie Up Pvt Ltd, Kolkata vs. D.C.I.T Cir - 11, Kolkata

In the result, assessee’s appeal is allowed

ITA 2029/KOL/2013[2009-10]Status: DisposedITAT Kolkata15 Jul 2016AY 2009-10

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

Section 143(2)Section 143(3)Section 14A

…Ltd v. ACIT (2012) 52 SOT 39 (Bom) b) ACIT vs. Sil Investment Ltd. 54 SOT 69 (Trib. Delhi) c) Relaxo Footwears Ltd. V. ACIT (2912) 18 taxmann.com 333 (Del) d) Balarampur Chini Mills Ltd. Vs. DCIT (2012) 20 taxmann.com 117 (Kol) e) ACIT vs. Elcher Ltd. (2006) 101 TTJ 369 (Del) f) ACIT vs. Jindal Saw Pipes Ltd (2008) 118 TTJ 228 (Del) g) CIT vs. Metalman Auto P. Ltd. (2011) 336 ITR 434 (P & H) h) CIT vs. Hero Cycles Ltd. (2010) 323 ITR 518 (P & H) i) DCIT vs. Jindal Photo Ltd.ITA No.4539/Del/2010 dated 22.12.2010 j) Godrej & Byoce vs. DCIT 328 ITR 81 (Bom) The relevant extract of the order of Hon’ble Delhi Tribun…

Avis Tie Up Pvt Ltd, Kolkata vs. D.C.I.T Cir - 11, Kolkata

In the result, assessee’s appeal is allowed

ITA 2028/KOL/2013[2008-09]Status: DisposedITAT Kolkata15 Jul 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

Section 143(2)Section 143(3)Section 14A

…Ltd v. ACIT (2012) 52 SOT 39 (Bom) b) ACIT vs. Sil Investment Ltd. 54 SOT 69 (Trib. Delhi) c) Relaxo Footwears Ltd. V. ACIT (2912) 18 taxmann.com 333 (Del) d) Balarampur Chini Mills Ltd. Vs. DCIT (2012) 20 taxmann.com 117 (Kol) e) ACIT vs. Elcher Ltd. (2006) 101 TTJ 369 (Del) f) ACIT vs. Jindal Saw Pipes Ltd (2008) 118 TTJ 228 (Del) g) CIT vs. Metalman Auto P. Ltd. (2011) 336 ITR 434 (P & H) h) CIT vs. Hero Cycles Ltd. (2010) 323 ITR 518 (P & H) i) DCIT vs. Jindal Photo Ltd.ITA No.4539/Del/2010 dated 22.12.2010 j) Godrej & Byoce vs. DCIT 328 ITR 81 (Bom) The relevant extract of the order of Hon’ble Delhi Tribun…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal is allowed

ITA 5720/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Jul 2016AY 2007-08

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., Vs. Additional Cit, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (Pan: Aaacm0829Q) (Appellant) (Respondent) Assessee By: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, Cas Department By:Shri Amrendra Kumar, Cit(Dr)

For Appellant: S/Shri Ajay Vohra, Sr. Adv. NeerajFor Respondent: Shri Amrendra Kumar, CIT(DR)

…umption: CIT v. Hero Cycles: : (2009): 323 ITR 518 (P&H) CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H) M/s Maxpak Investment Ltd (ITA No.2632/Del/2003) (Del. Tri.) 66 Wimco Seedlings Limited v. DCIT: 107 ITD 267 (Del. Tri.)(TM) ACIT v. Eicher Limited: 101 TTJ 369 (Del.) 17.4 Furthermore, in the following cases it has been held that for making a disallowance under section 14A of the Act, the assessing officer has to prove nexus between the exempt income and the expenditure incurred: ACIT v. Jindal Saw Pipes Ltd. : 118 TTJ 228 (Del.) Punjab National Bank V. DCIT: 103 TTJ 908 (Del.) Shree Synthetics Limit…

Ge Capital Services India vs. Addl CIT Range 2

In the result, the appeals of the assessee and Revenue are partly allowed for

ITA 2898/DEL/2007[2000-2001]Status: DisposedITAT Delhi06 Jun 2016AY 2000-2001

Bench: Smt Diva Singh & Sh.L.P.Sahu

Section 14ASection 234DSection 45J

…it has been provided that for the purpose of computing total income, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the Act. In the case of Eicher Ltd. 101 TTJ 369 (Del.), it has been said “The words "in relation to" income which is exempt under the Act, no doubt, appear it be broad at first impression, but on deeper examination, and read in conjunction with the word '"'incurred", it seems that these are restrictive words, restricting the power of the AO to estimate a part of the expenditure incurred by the…

DCIT Circle 12 (1) vs. G.E. Capital Services India

In the result, the appeals of the assessee and Revenue are partly allowed for

ITA 2808/DEL/2007[2001-2002]Status: DisposedITAT Delhi06 Jun 2016AY 2001-2002

Bench: Smt Diva Singh & Sh.L.P.Sahu

Section 14ASection 234DSection 45J

…it has been provided that for the purpose of computing total income, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the Act. In the case of Eicher Ltd. 101 TTJ 369 (Del.), it has been said “The words "in relation to" income which is exempt under the Act, no doubt, appear it be broad at first impression, but on deeper examination, and read in conjunction with the word '"'incurred", it seems that these are restrictive words, restricting the power of the AO to estimate a part of the expenditure incurred by the…

Yardley Investment & Trading Co. Ltd, Mumbai vs. CIT(A) -3, Mumbai

Accordingly the appeal filed by the assessee is hereby allowed for statistical purpose

ITA 5419/MUM/2015[2012-13]Status: DisposedITAT Mumbai29 Feb 2016AY 2012-13

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.5419/M/15 ("नधा"रण वष" / Assessment Year: 2012-13) M/S. Yardley Investment & Income Tax Officer 1(3)(2) बनाम/ Trading Co. Pvt. Ltd. Aayakar Bhavan, M.K.Road, Vs. 01, Pearl Mansion, (N)(91), Mumbai - 400020 M. K. Road, Mumbai - 400013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacy0327M

For Appellant: NoneFor Respondent: Shri. V. S. Jadhav
Section 14Section 14A

…vestment Ltd. Vs. CIT (Jurisdictional High Court)(347 ITR 272), Wimco Seedlings Ltd. Vs. DCIT (Income Tax Appellate Tribunal, Delhi Third Member)(107 ITD 267), CIT Vs. Hero Cycles (Panjab & Haryana High Court) (323 ITR 518), ACIT Vs. Eicher Ltd. (ITAT Delhi) (101 TTJ 369), Maruti Udyog Vs. DCIT (Income Tax Appellate Tribunal, Delhi) 92 ITD 119 and Hindustan Paper Corporations Ltd. V. DCIT (Income Tax Appellate Tribunal Kolkata Bench Judgement dated 22.08.2012) ITA No. 47/Kol/2012. 4.1 On the other hand learned representative of the Department has refuted the said contention. A.Y. 2012-13 4.2 Keeping in view of t…

Infomedia 18 Ltd ( Formerly Known As Infomedia India Ltd), Mumbai vs. Addl CIT RG 6(1), Mumbai

ITA 4441/MUM/2009[2005-06]Status: DisposedITAT Mumbai24 Nov 2015AY 2005-06

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4441/Mum/2009 ("नधा"रण वष" / Assessment Year : 2005-06)

For Respondent: Shri Samuel Darse (D.R)
Section 142Section 143(2)Section 143(3)Section 14ASection 14A(2)

…and (3) to Section 14A of the Act are not retrospective by relying on following decisions : a. Wimco Seedlings Limited v. DCIT 107 ITD 267(Del.)(TM) b. TCI Finance Limited v. ACIT (2008-TIOL-213-ITAT-Hyd.) c) Impulse (India) Private Limited v. ACIT (2008) 22 SOT 368(Del.) The CIT(A) following decision in Daga Capital Management Private Limited reported in 117 ITD 169(Del.)(SB) held that provisions of sub section (2) and (3) of Section14A of the Act read with Rule 8D of Income Tax Rules, 1962 are retrospective. On merits, the assessee company submitted that the as per Section 14A(2) of the Act resort can be…

Commissioner of Income Tax IV New Delhi vs. M/S Dlf Ltd

ITA/236/2010HC Delhi17 Sept 2012

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

Section 10Section 143Section 14ASection 263

…to make inquire and find out the proportionate expenses which can be disallowed u/s 14A. The issue with regard to disallowance of proportionate expenditure has been dealt by the ITAT Delhi Bench in case of Wimco Seeding 293 ITA 216 and Impulse Pvt. Ltd. 22 SOT 368, wherein it was observed that the provisions of Section-14A has been introduced to disallow the expenses identified has having been incurred for earning exempted income. On plain construction of Section-14A, it is very much clear that only the expenditure which have been proved to be incurred in relation to earning of tax free income can be…