What is CCI Ltd. v. JCIT authority for?

Disallowance under Section 14A for exempt income is not warranted for notional expenditure where no actual expenditure is incurred. This principle extends to shares held as stock-in-trade if the primary purpose is not to earn dividend income.

How many judgments cite CCI Ltd. v. JCIT?

128 judgments on BharatTax cite CCI Ltd. v. JCIT (250 CTR 291), spanning 2008 to 2025.

Which sections of the Income Tax Act does CCI Ltd. v. JCIT come up under?

It is most often cited in judgments turning on Section 10(34), Section 143(3), Section 14A, Section 250.

CCI Ltd. v. JCIT (250 CTR 291)

The Karnataka Bank Ltd., Mangalore vs. DCIT, Mangalore

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

ITA 1335/BANG/2013[2011-12]Status: DisposedITAT Bangalore19 Jan 2018AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1265/BANG/2013[2011-12]Status: DisposedITAT Bangalore19 Jan 2018AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1397/BANG/2012[2010-11]Status: DisposedITAT Bangalore19 Jan 2018AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 1396/BANG/2012[2009-10]Status: DisposedITAT Bangalore19 Jan 2018AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

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

ITA 1335/BANG/2012[2010-11]Status: DisposedITAT Bangalore19 Jan 2018AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

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

ITA 1334/BANG/2012[2009-10]Status: DisposedITAT Bangalore19 Jan 2018AY 2009-10

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

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

ITA 753/BANG/2011[2008-09]Status: DisposedITAT Bangalore19 Jan 2018AY 2008-09

Bench: Shri Inturi Rama Rao & Shri Lalit Kumar

For Appellant: Shri A. Raghavendra Rao, CAFor Respondent: Shri R.K.Jha, CIT(DR)

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BENGALURU BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER and SHRI LALIT KUMAR, JUDICIAL MEMBER Sl. ITA No. & Appellant Respondent No. Asst. year 1 753/Bang/2011 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2008-09) Income-tax, Circle 2(1),’ Near Mahaveer Circle, Mangalore. Pumpwell, Mangalore. PAN:AABCT 5589 K 2 1334/Bang/2012 M/s. Karnataka Bank Ltd. Asst. Commissioner of (2009-10) Mangalore. Income-tax, Circle 2(1),’ Mangalore. 3 1396/Bang/2012 Asst. Commissioner of M/s.Karnataka Bank Ltd. (2009-10) Income-tax, Circle 2(1),’ Mangalore. Mangalore. 4 1335/Bang…

ACIT 3(1)(2), Mumbai vs. Edelweiss Trading & Holdings Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 4259/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2018AY 2011-12

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4259/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) Acit-3(1)(2) बिधम/ M/S. Edelweiss Trading & Room No. 607, 6Th Floor, Holding Ltd. (Formerly Vs. Aayakar Bhavan, Mumbai- Edelweiss Commodities 400020 Ltd.) 1, Edelweiss House, Off, Cst Road, Kalina, Santacruz (E) Mumbai- 400098 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce3819M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Saurabh Deshpande (Dr) Assessee By: Shri Rajan Vora सुनवाई की तारीख / Date Of Hearing: 26.10.2017 घोषणा की तारीख /Date Of Pronouncement: 17. 01.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 16.03.2016 Passed By The Commissioner Of Income Tax (Appeals) - 8, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2011- 12. 2. The Revenue Has Raised The Following Grounds:- “1. "On The Facts & Circumstances Of The Case & In Law, The Ld. Cit{A) Erred In Deleting The Addition Of Rs.12,74,59,362/- Made By Assessing Officer On Account Of Mark To Market Loss A.Y.2011-12

For Appellant: Shri Rajan VoraFor Respondent: Shri Saurabh Deshpande (DR)

Section 10(34)Section 142(1)Section 143(2)Section 14ASection 14A(2)

…T V/s Smt .Leena Ramchandranan..." 5.3.7 Similar ratio has been held in the following judicial precedents: 7 A.Y.2011-12 • DCIT vs. India Advantage Securities Limited (Mum I TAT) (ITA No.6711/Mum/2011) (Confirmed by Bombay High Court); • CCl Limited vs JCIT 250 CTR 291 (Kar); • Ganjam Trading Co. P. Ltd. (ITA No.3724/Mum/2005, dated 20 July 2012); • Prakash K. Shah & Securities P. Ltd. v. ACIT (ITA No.3339/Mum/2010); • CIT vs Leena Ramchandran 339 ITR 296 (Kar); and . Ethio Plastics Pvt. Ltd. vs. DCIT (Ahd ITAT) (l.T.A. No.848/Ahd/2012). Devkant Synthetics (India) Pvt Ltd V/s ITO-3(1)(2) in ITA No. 2663,2664 a…

DCIT Cir 2(2)(1), Mumbai vs. Infina Finance P.Ltd, Mumbai

Appeal stands dismissed

ITA 3329/MUM/2016[2012-13]Status: DisposedITAT Mumbai17 Jan 2018AY 2012-13

Bench: Shri C.N. Prasad, Jm & Shri Manoj Kumar Aggarwal, Am

For Appellant: NoneFor Respondent: Saurabh Deshpande, Ld. DR

Section 143(3)Section 14A

…ndia Advantage Securities Ltd. [ITAT Mumbai ITA No. 6711/Mum/2011 order dated 14/09/2012] [as confirmed by Hon’ble Bombay High Court by way of non-admission of revenue’s appeal 2015 79 Taxmann.com 370] (ii) CCI Ltd. Vs. JCIT [Hon’ble Karnataka High Court 2012 20 Taxmann.com 196] (iii) PCIT Vs. State Bank of Patiala [Hon’ble Punjab & Haryana High Court 2017 78 Taxmann.com 3] (iv) CIT Vs. G.K.K. Capital Markets (P.) Ltd. [Hon’ble Calcutta High Court 2017 78 Taxmann.com 341] Respectfully following the ratio of above decisions, we conclude that investments held as stock- in-trade do no attract disallowance u/s 14A.…

The ITO, Ward-1(2), Ahmedabad vs. M/S. Adroit Tradelink Pvt. Ltd., Gandhinagar

In the result, ground no.3 of the revenue’s appeal is dismissed

ITA 1728/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad28 Dec 2017AY 2010-11

Bench: Shri S.S. Godara & Shri Manish Borad

For Appellant: S.N. Divatia, A.RFor Respondent: 21/12/2017

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

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘D’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER आयकर अपील सं./ITA.No. 1728/AHD/2015 ("नधा"रण वष" / Asstt. Year : 2010-11) The ITO, Ward-1(1)(2), Vs. M/s. Adroit Tradelink Pvt. Ahmedabad – 380 015 Ltd., 145-1, Sector-14, Samrajya Apartment, Gandhinagar-382 016 PAN:AAACJ3868J (Appellant) (Respondent) V.K. Singh, Sr. D.R अपीलाथ" ओर से / Appellant by: S.N. Divatia, A.R. ""यथ" क" ओर से/Respondent by: 21/12/2017 सुनवाई क" तार"ख / Date of Hearing 28/12/2017 घोषणा क" तार"ख /…

Narendra Ambwani, Mumbai vs. DCIT 5(2)(1), Mumbai

In the result, the appeal of assessee is partly allowed

ITA 7628/MUM/2016[2012-13]Status: DisposedITAT Mumbai16 Nov 2017AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Narendra Ambwani The Deputy Commissioner 1201, Sterling Sea Face, Of Income Tax, Circle- Vs. Dr. Annie B. Road, Worli, 5(2)(1), Mumbai Mumbai-400 018 Appellant .. Respondent Pan No. Aeipa8788F

For Appellant: Mrugakshi K. Joshi, ARFor Respondent: Arju Garodia, DR

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

…by the assessee. That activity itself called for considerable management attention and could not be left to a junior clerk.” This view has been further supported by the decisions of the Hon’ble Kerala High Court in the case of Smt. Leena Ramachandran (2011) (339 ITR 293) (Kerala HC) and the latest decisions of the jurisdictional ITAT in the case of Dufon Laboratories P Ltd. (2014) 50 taxmann.com 143 and Citicorp Finance Ltd, 12 SOT 248 (Mum).” Aggrieved, assessee is in second appeal before Tribunal. 4. Before us, the learned Counsel for the assessee argued that separate books of account are maintained for inve…

Asstt CIT 19(3), Mumbai vs. Safe Enterprises, Mumbai

Appeal stands dismissed whereas cross objections filed by assessee stands partly allowed

ITA 4492/MUM/2015[2011-12]Status: DisposedITAT Mumbai04 Oct 2017AY 2011-12

Bench: Shri Mahavir Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No. 4492/Mum/2015 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Safe Enterprises बनाम/ Income Tax 19(3) 198, Manek Matru Mandir 11, L.D.Ruparel Marg Vs. Tardeo Road,Mumbai – 400 007 Mumbai-400 006 (अपीलाथ" /Appellant) (""थ" / Respondent) : & Cross Objection No.21/Mum/2017 (िनधा"रण वष" / Assessment Year: 2011-12) Safe Enterprises Assistant Commissioner Of बनाम/ 198, Manek Income Tax 19(3) 11,L.D.Ruparel Marg Matru Mandir,Tardeo Road Vs. Mumbai-400 006 Mumbai – 400 007 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Abhfs-4029-H (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: M.M.Golvale & HormuzolFor Respondent: V. Justin, Ld.DR

Section 143(3)Section 14A

…ndia Advantage Securities Ltd. [ITAT Mumbai ITA No. 6711/Mum/2011 order dated 14/09/2012] [as confirmed by Hon’ble Bombay High Court by way of non-admission of revenue’s appeal 2015 79 Taxmann.com 370] (ii) CCI Ltd. Vs. JCIT [Hon’ble Karnataka High Court 2012 20 Taxmann.com 196] (iii) PCIT Vs. State Bank of Patiala [Hon’ble Punjab & Haryana High Court 2017 78 Taxmann.com 3] (iv) CIT Vs. G.K.K. Capital Markets (P.) Ltd. [Hon’ble Calcutta High Court 2017 78 Taxmann.com 341] Respectfully following the above, we conclude that shares held as stock- in-trade do no attract disallowance u/s 14A. 8. Now coming to quantum…

ACIT, Jaipur vs. State Bank of Bikaner & Jaipur, Jaipur

Appeal is dismissed

ITA 438/JPR/2009[2006-07]Status: DisposedITAT Jaipur29 Aug 2017AY 2006-07

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Rolly Agarwal (CIT)

Section 10Section 143(3)Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh dqy Hkkjr] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 280/JP/2009 fu/kZkj.k o"kZ@Assessment Year : 2006-07 cuke State Bank of Bikaner & Jaipur, Dy. CIT, Vs. Tilak Marg, C-Scheme, Circle-6, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AADCS 4750 R vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 438/JP/2009 fu/kZkj.k o"kZ@Assessment Year : 2006-07 cuke Dy. CIT, State Bank of Bikaner & Vs. Circle…

State Bank of Bikaner & Jaipur, Jaipur vs. ACIT, Jaipur

Appeal is dismissed

ITA 280/JPR/2009[2006-07]Status: DisposedITAT Jaipur29 Aug 2017AY 2006-07

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Rolly Agarwal (CIT)

Section 10Section 143(3)Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh dqy Hkkjr] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 280/JP/2009 fu/kZkj.k o"kZ@Assessment Year : 2006-07 cuke State Bank of Bikaner & Jaipur, Dy. CIT, Vs. Tilak Marg, C-Scheme, Circle-6, Jaipur. Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AADCS 4750 R vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 438/JP/2009 fu/kZkj.k o"kZ@Assessment Year : 2006-07 cuke Dy. CIT, State Bank of Bikaner & Vs. Circle…

ITO, Ward-3(3), Kolkata vs. M/S Beejay Investment & Financial Consultants Pvt. Ltd., Kolkata

In the result, appeal of the revenue is dismissed

ITA 1523/KOL/2014[2009-2010]Status: DisposedITAT Kolkata24 May 2017AY 2009-2010

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

Section 14A

…1 Beejay Investment & Financial Consultants P. Ltd., AY 2009-10 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM] I.T.A. No. 1523/Kol/2014 Assessment Year: 2009-10 Income-tax Officer, Wd-3(3), Kolkata. Vs. Beejay Investment & Financial Consultants Pvt. Ltd. (PAN:AABCB0832B) Appellant Respondent Date of Hearing 09.05.2017 Date of Pronouncement 24.05.2017 For the Appellant Shri Nicholas Murmu, JCIT, Sr. DR For the Respondent Shri Miraj D. Shah, AR ORDER Per Shri A.T.Varkey, JM This is an appeal filed by the revenue against the order of Ld. CIT(A)-1,…

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeals of the Assessee are allowed for statistical purpose

ITA 2112/MUM/2015[2010-11]Status: DisposedITAT Mumbai19 May 2017AY 2010-11

Bench: Shri C.N. Prasad & Shri Ramit Kochar

For Appellant: Shri V.G.GindeFor Respondent: Shri B.S.Bist

Section 14A

…आयकर अपीलीय अधिकरण "एच” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA NO.7189/MUM/2011, (A.Y : 2008-09) ITA NO.2111/MUM/2015, (A.Y : 2009-10) ITA NO.2112/MUM/2015, (A.Y : 2010-11) Shri Bharat Jayantilal Patel Vs. DCIT RG 4(1)(1) 3-3A, Churchgate House 6th Floor, Aayakar Bhavan 32/34, Veer Nariman Road M.K.Road Mumbai – 400 001 Churchgate Mumbai – 400 020 PAN : AAAPP6652R (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) अपीलार्थी की ओर से /Appellant by : Shri V.G.Ginde प्रत्यर्थी की ओर से…

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeals of the Assessee are allowed for statistical purpose

ITA 2111/MUM/2015[2009-10]Status: DisposedITAT Mumbai19 May 2017AY 2009-10

Bench: Shri C.N. Prasad & Shri Ramit Kochar

For Appellant: Shri V.G.GindeFor Respondent: Shri B.S.Bist

Section 14A

…आयकर अपीलीय अधिकरण "एच” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA NO.7189/MUM/2011, (A.Y : 2008-09) ITA NO.2111/MUM/2015, (A.Y : 2009-10) ITA NO.2112/MUM/2015, (A.Y : 2010-11) Shri Bharat Jayantilal Patel Vs. DCIT RG 4(1)(1) 3-3A, Churchgate House 6th Floor, Aayakar Bhavan 32/34, Veer Nariman Road M.K.Road Mumbai – 400 001 Churchgate Mumbai – 400 020 PAN : AAAPP6652R (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) अपीलार्थी की ओर से /Appellant by : Shri V.G.Ginde प्रत्यर्थी की ओर से…

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1), Mumbai

In the result, appeals of the Assessee are allowed for statistical purpose

ITA 7189/MUM/2011[2008-09]Status: DisposedITAT Mumbai19 May 2017AY 2008-09

Bench: Shri C.N. Prasad & Shri Ramit Kochar

For Appellant: Shri V.G.GindeFor Respondent: Shri B.S.Bist

Section 14A

…आयकर अपीलीय अधिकरण "एच” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA NO.7189/MUM/2011, (A.Y : 2008-09) ITA NO.2111/MUM/2015, (A.Y : 2009-10) ITA NO.2112/MUM/2015, (A.Y : 2010-11) Shri Bharat Jayantilal Patel Vs. DCIT RG 4(1)(1) 3-3A, Churchgate House 6th Floor, Aayakar Bhavan 32/34, Veer Nariman Road M.K.Road Mumbai – 400 001 Churchgate Mumbai – 400 020 PAN : AAAPP6652R (अपीलार्थी / Appellant) (प्रत्यर्थी / Respondent) अपीलार्थी की ओर से /Appellant by : Shri V.G.Ginde प्रत्यर्थी की ओर से…

Bank of Baroda, Mumbai vs. ACIT Cir 2(1), Mumbai

In the result of appeal by the assessee is partly allowed for the statistical purposes and the appeal of the revenue stands allowed

ITA 2480/MUM/2015[2009-10]Status: DisposedITAT Mumbai17 Feb 2017AY 2009-10

Bench: Shri Shamim Yahya & Shri Ravish Sood

For Appellant: Shri. C. NareshFor Respondent: Shri. Jasbir chauhan

Section 91

…crore being 05% of average investments earning tax free income. The CIT (A) should have appreciated as Bank of Baroda ITA no.2480 & 3081/Mum./2015 all the assets from which the tax free income has been earned are stock in trade as held in the case of CCI Ltd (250 CTR 291). iv) Without prejudice to the above contention, even if is to be applied, the disallowance can only be nil since the appellant does not hold any investment the income from which does not or shall not form part of total income arid the appellant only holds stock in trade. v) Without prejudice to the above contention, the question of disallowance…

Sri Lalit Kumar Rupchandani, Kolkata vs. ITO, WD-33(3), Kolkata

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

ITA 673/KOL/2015[2010-2011]Status: DisposedITAT Kolkata20 Jan 2017AY 2010-2011

Bench: Shri A. T. Varkey, Jm & Dr. A. L. Saini, Am]

For Appellant: Shri Akash Bansal, CAFor Respondent: Sk. Z. H. Tanveer, JCIT, Sr. DR

Section 131Section 133(6)Section 143(3)Section 271(1)(c)

…-520008. The assessee was asked to explain as to why the said commission had been paid. Considering the reply of the assessee, the AO made the addition by observing the following: “Further, in the case of Bhagat Construction Company Pvt. Ltd. vs. CIT (2001) 250 ITR 291 (Delhi). Hon'ble High Court at Delhi has held that a colourable transaction is one which is seemingly valid, but a feigned or counterfeittransaction entered into for ulterior purposes. In the case of the assessee, the entire commission payment transaction was arranged with the sole and only ulterior motive to evade taxes. The case of the assessee…

CCI Ltd. v. JCIT

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Judgments citing CCI Ltd. v. JCIT

The Karnataka Bank Ltd., Mangalore vs. DCIT, Mangalore

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

The Karnataka Bank Ltd., Mangalore vs. DCIT, Bangalore

ACIT, Mangalore vs. M/S Karnataka Bank Ltd., Mangalore

ACIT 3(1)(2), Mumbai vs. Edelweiss Trading & Holdings Ltd, Mumbai

DCIT Cir 2(2)(1), Mumbai vs. Infina Finance P.Ltd, Mumbai

The ITO, Ward-1(2), Ahmedabad vs. M/S. Adroit Tradelink Pvt. Ltd., Gandhinagar

Narendra Ambwani, Mumbai vs. DCIT 5(2)(1), Mumbai

Asstt CIT 19(3), Mumbai vs. Safe Enterprises, Mumbai

ACIT, Jaipur vs. State Bank of Bikaner & Jaipur, Jaipur

State Bank of Bikaner & Jaipur, Jaipur vs. ACIT, Jaipur

ITO, Ward-3(3), Kolkata vs. M/S Beejay Investment & Financial Consultants Pvt. Ltd., Kolkata

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1)(1), Mumbai

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1)(1), Mumbai

Bharat Jayantilal Patel, Mumbai vs. DCIT RG 4(1), Mumbai

Bank of Baroda, Mumbai vs. ACIT Cir 2(1), Mumbai

Sri Lalit Kumar Rupchandani, Kolkata vs. ITO, WD-33(3), Kolkata