Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd.

152 TTJ 241Income Tax Appellate Tribunal2013#9419 most cited

What is Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. authority for?

Interest expenditure not directly attributable to any particular income cannot be disallowed under section 14A by applying sub-rule 2(ii) of Rule 8D.

11

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2018.

Also referred to as

ACIT vs. Champion Commercial Co Ltd · section 14A · Rule 8D · disallowance of interest expenditure · interest not directly attributable · investment in shares · mutual funds

Judgments citing Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd.

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)

…et Ltd. v. ACIT: ITA No. 1629/Mum/09 (Mum.)  Dy.CIT v. EimcoElecon (India) Ltd.: 142 ITD 52 (Ahd)  Dy.CIT v. Jammu & Kashmir Bank Ltd.: 142 ITD 553 (Asr.)  Hero Honda Finlease Ltd vs. ACIT: ITA No. 3726/Del/2012 (Del)  ACIT vs. Champion Commercial Co Ltd: 152 TTJ 241 (Kol)  TML Drive Lines Ltd vs. ACIT : ITA No. 6064/Mum/2010 (Mum)  Kulgam Holdings Pvt. Ltd. vs. ACIT : ITA No. 1259/Ahd/2006 (Ahd)  Max India Limited vs. DCIT: ITA No. 103/2006 (Amr) It is submitted that the aforesaid interest expenditure being presumed to have not been incurred for investment in shares/mutual funds cannot even be disallowed…

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)

…et Ltd. v. ACIT: ITA No. 1629/Mum/09 (Mum.)  Dy.CIT v. EimcoElecon (India) Ltd.: 142 ITD 52 (Ahd)  Dy.CIT v. Jammu & Kashmir Bank Ltd.: 142 ITD 553 (Asr.)  Hero Honda Finlease Ltd vs. ACIT: ITA No. 3726/Del/2012 (Del)  ACIT vs. Champion Commercial Co Ltd: 152 TTJ 241 (Kol)  TML Drive Lines Ltd vs. ACIT : ITA No. 6064/Mum/2010 (Mum)  Kulgam Holdings Pvt. Ltd. vs. ACIT : ITA No. 1259/Ahd/2006 (Ahd)  Max India Limited vs. DCIT: ITA No. 103/2006 (Amr) It is submitted that the aforesaid interest expenditure being presumed to have not been incurred for investment in shares/mutual funds cannot even be disallowed…

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

…mco Elecon (India) Ltd.: 142 ITD 52 (Ahd) • Dy. CIT v. Jammu & Kashmir Bank Ltd.: 142 ITD 553(Asr.) • T and T Motors Ltd. v. Addl. CIT : 154 ITD 306 (Delhi) Hero Honda Finlease Ltd vs. ACIT: ITA No. 3726/Del/2012 (Del) • • ACIT vs. Champion Commercial Co Ltd: 152 TTJ 241 (Kol) • TML Drive Lines Ltd vs. ACIT : ITA No. 6064/Mum/2010 (Mum) • Kulgam Holdings Pvt. Ltd. vs. ACIT : ITA No. 1259/Ahd/2006 (Ahd) The aforesaid decisions are squarely applicable in the facts of the present case inasmuch as total investment made is much lower than interest free funds available with the assessee and hence, there is no basis to…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1870/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

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

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…d the said Rule cannot be arbitrarily applied by the Assessing Officer without showing how the assesses method of calculation of disallowance u/s 14A is incorrect. Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products L…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1869/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

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

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…d the said Rule cannot be arbitrarily applied by the Assessing Officer without showing how the assesses method of calculation of disallowance u/s 14A is incorrect. Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products L…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1868/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

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

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…d the said Rule cannot be arbitrarily applied by the Assessing Officer without showing how the assesses method of calculation of disallowance u/s 14A is incorrect. Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products L…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1867/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

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

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…d the said Rule cannot be arbitrarily applied by the Assessing Officer without showing how the assesses method of calculation of disallowance u/s 14A is incorrect. Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products L…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1866/KOL/2014[2006-2007]Status: DisposedITAT Kolkata13 Dec 2017AY 2006-2007

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

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…d the said Rule cannot be arbitrarily applied by the Assessing Officer without showing how the assesses method of calculation of disallowance u/s 14A is incorrect. Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products L…

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/…

D.C.I.T., Circle-4, Kolkata vs. M/S. Rossell India Ltd., Kolkata

In the result, Revenue’s appeal stands dismissed

ITA 2774/KOL/2013[2009-2010]Status: DisposedITAT Kolkata15 Mar 2017AY 2009-2010

Bench: Shri Aby.T Varkey & Shri Waseem Ahmedassessment Year:2009-10 Dcit, Circle-4, Kolkata V/S. M/S Rossell India Ltd. P-7, Chowringhee 21/1A/3, Darga Road, Square, Kolkata-69 Jindal Towers, Block B, 4Th Floor, Park Circus, Kolkta-700 017 [Pan Noaabcr 3736 J] .. अपीलाथ" /Appellant ""यथ"/Respondent

Section 10(34)Section 115JSection 143(3)Section 14A

…Integrated Coal Mining Ltd vs. DCIT (2016) 67 taxmann.com 260 (Kol) ITA No.2774/Kol/2013 A.Y 2009-10 DCIT Cir-4, Kol Vs. M/s Rossell India Ltd. Page 12 Damodar Valley Corporation vs. ACIT (2016) 157 ITD 415 (Kol) ACIT vs. Champion Commercial Co. Ltd. (2013) 152 TTJ 241 (Kol) CIT vs. Taikisha Engineering India Ltd. (2015) 370 ITR 272 (Del) Maxopp Investments Ltd vs. CIT (2012) 347 ITR 272 (Del) CIT vs. Consolidated Photo & Finvest Ltd. (2013) 358 ITR 310(Del) Auchtel Products Ltd. vs. ACIT (2012) 52 SOT 39 (Mum) Without prejudice to above, assuming though not admitting that Rule 8D of the IT Rules was at all ap…

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)

…shtra Seamless Ltd.: 48 SOT 160 (Del)(URO) Eimco Elecon (India) Ltd. v. Addl. CIT: 142 ITD 52 (Ahd.) M/s. Godrej Agrovet Ltd. v. ACIT: ITA No. 1629/Mum/09 (Mum) TML Drive Lines Ltd v. ACIT : ITA No. 6064/Mum/2010 (Mum) ACIT vs. Champion Commercial Co Ltd: 152 TTJ 241 (Kol) Kulgam Holdings Pvt. Ltd. v. ACIT : ITA No. 1259/Ahd/2006 (Ahd) Max India Limited v. DCIT: ITA No. 103/2006 (Amr) Dy. CIT v. Jammu & Kashmir Bank Ltd.: 142 ITD 553(Asr.) 17.14 Furthermore, in the assessee’s own case for the assessment year 1999-2000 reported in 92 ITD 119, the Tribunal was pleased to delete the disallowance made under se…

Assistant Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. (152 TTJ 241) — Cited in 11 Judgments | BharatTax