Asstt. CIT v. Bajaj Capital Ventures (P.) Ltd.

196 ITD 24Income Tax Appellate Tribunal2022#23362 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,356 Indian tax judgments — from 2022 to 2023.

Judgments citing Asstt. CIT v. Bajaj Capital Ventures (P.) Ltd.

M/S. Bharat Electronics Limited, Bangalore vs. Assistant Commissioner of Income Tax, Ltu, Circle-1, Bengaluru

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 394/BANG/2023[2012-13]Status: DisposedITAT Bangalore29 Sept 2023AY 2012-13

Bench: Shri George George K, Vice- & Shri Laxmi Prasad Sahuassessment Year : 2012-13 M/S. Bharat Electronics The Assistant Ltd., Commissioner Of Registered Office, Income Tax, Outer Ring Road Ltu, Nagawara, Circle – 1, Vs. Bangalore – 560 045. Bangalore. Pan: Aaacb5985C Appellant Respondent

For Appellant: Smt. Richa .B, CAFor Respondent: Shri Manoj Kumar, CIT-DR

Section 14ASection 43A

…ion of Hon'ble Delhi High Court in Era Infrastructure Ltd. (supra) was followed in following cases – Page 9  Dy. CIT v. Lodha Developers Ltd. [2022] 143 taxmann.com 442 (Mum. - Trib.);  Asstt. CIT v. Bajaj Capital Ventures (P.) Ltd.[2022] 140 taxmann.com 1/196 ITD 24 (Mum. - Trib.) 12. Thus, in view of the submissions made above, it is humbly submitted that if there is no exempt income, naturally, there cannot be any disallowance under Section 14A of the Act because no expenditure has been incurred on any exempt income during the year. Further, the reliance placed by the learned CIT (A) on the amendment made b…

Truworth Infotech Private Limited, Jaipur vs. Income Tax Officer, Ward-2(2), Jaipur

In the result, the appeal of the assessee is allowed

ITA 79/JPR/2023[2014-15]Status: DisposedITAT Jaipur04 Jul 2023AY 2014-15

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma, CA &For Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR

Section 115JSection 143(2)Section 143(3)Section 14A

…exempt income has accrued, arisen or received but the provision was prospective in nature as is clear from the memo explaining the provisions appended to the Finance Bill. The Mum-Tribunal in case of ACIT Vs. Bajaj Capital Ventures (P.) Ltd. 140 taxmann.com 1/196 ITD 24 held that Explanation to section 14A which came into effect from 01-04- 2022 clarified that disallowance was to be made even if no exempt income was earned in relevant year. Since said Explanation was prospective in nature and assessee did not earn any exempt income in relevant assessment years, no disallowance could be made under section 14A. The…

DCIT-Ltu - 2, Mumbai vs. Ambuja Cements Ltd, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2958/MUM/2019[2010-11]Status: DisposedITAT Mumbai07 Nov 2022AY 2010-11

Section 143(3)Section 14A

…ection 14A is made. This is also an assessment year prior to the insertion of Explanation to section 14A, by the Finance Act 2022. Dealing with such a situation, a coordinate bench of this Tribunal in the case of ACIT Vs Bajaj Capital Ventures Pvt Ltd [(2022) 196 ITD 24 (Mum)], and speaking through one of us (i.e. the Vice President), has observed as follows: 7. We find that there is no dispute about the fact that the assessee did not have any tax-exempt income during the relevant previous year and that the period before us pertains to the period prior to the insertion of the explanation to section 14A. In this v…