ACIT v. SIL Investment Ltd.

26 Taxmann.com 78High Court#4420 most cited

What is ACIT v. SIL Investment Ltd. authority for?

An Assessing Officer cannot disallow expenses under section 14A by merely applying Rule 8D(2)(iii) without bringing any evidence on record to establish that expenditure was actually incurred by the assessee for earning exempt income.

27

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2015 to 2024.

Also referred to as

ACIT v. SIL Investment Ltd. · section 14A · Rule 8D · exempt income · expenditure incurred · disallowance · evidence on record · AO · assessee

Also reported as

26 Taxmann 78

Issues it is cited on

r&d expendituredisallowance under section 40(a)(ia)section 32(1)(iia)weighted deductionsection 35(2ab)section 194hadditional depreciationroyalty incomesection 14a(2)right to receiverule of consistencyput to use

Judgments citing ACIT v. SIL Investment Ltd.

Turbo Energy Limited, Chennai vs. DCIT, Chennai

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

ITA 316/CHNY/2014[2008-2009]Status: DisposedITAT Chennai03 May 2017AY 2008-2009

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

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

ITA 205/CHNY/2014[2009-10]Status: DisposedITAT Chennai03 May 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

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

ITA 204/CHNY/2014[2008-09]Status: DisposedITAT Chennai03 May 2017AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

DCIT, Chennai vs. M/S. Turbo Energey Limited, Chennai

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

ITA 203/CHNY/2014[2006-07]Status: DisposedITAT Chennai03 May 2017AY 2006-07

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

DCIT, Chennai vs. Turbo Energy Limited, Chennai

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

ITA 629/CHNY/2013[2007-08]Status: DisposedITAT Chennai03 May 2017AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

Turbo Energy Limited, Chennai vs. DCIT, Chennai

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

ITA 351/CHNY/2013[2007-2008]Status: DisposedITAT Chennai03 May 2017AY 2007-2008

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singhआयकर अपील सं./Ita No.351/Mds/2013 & Ita Nos.316 & 317/Mds/2014 िनधा"रण वष" /Assessment Year: 2007-08 & Ays 2008-09 & 2009-10

Section 10BSection 10B(8)Section 80I

…he year. 10.2 We heard the rival submissions and perused the material placed on record. 10.3 The issue is squarely covered in favour of the assesse by the following judicial pronouncements: • Devi Polymers (ITA No.165/Mds/2014) (Chennai) • SIL Investments (26 Taxmann.com 78) (Del) • MITC Rolling (ITA No.2789/Mum/2012) • DCIT v. Cosmo Films (2012) 139 ITD 628 (Delhi) (Trib.) The Hon’ble jurisdictional High Court in TCA No.551/2013 in the case of M/s.Brakes India Ltd., held that the balance additional depreciation which was not allowed in the year in which it was put to use, should be allowed in the subsequen…

ACIT 18(2), Mumbai vs. Metropolitan Trading Co., Mumbai

In the result appeal of the Revenue is dismissed

ITA 3218/MUM/2014[2009-10]Status: DisposedITAT Mumbai20 Nov 2015AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: - 2009-10 The Acit – 18(2) Vs.` M/S Metropolitan Trading Co. Room No. 115, 1St Floor, 10/76, Apte Properties, Piramal Chambers, Off. Haines Road, Worli, Parel, Mumbai – 400 018. Mumbai- 400012. Pan/Gir No. Aaafm1474C Appellant Respondent Revenue By Shri Vijay Kumar Soni Assessee By Ms. Vasanti B. Patel

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH ‘B’ MUMBAI. BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER Assessment year: - 2009-10 The ACIT – 18(2) Vs.` M/s Metropolitan Trading Co. Room No. 115, 1st floor, 10/76, Apte Properties, Piramal Chambers, Off. Haines Road, Worli, Parel, Mumbai – 400 018. Mumbai- 400012. PAN/GIR No. AAAFM1474C Appellant Respondent Revenue By Shri Vijay Kumar Soni Assessee By Ms. Vasanti B. Patel Date of hearing 29.10.2015 Date of pronouncement 20.11.2015 ORDER Per Rajesh Kumar, Accountant Member This appeal by the assessee is directed again…