Cheminvest Ltd. v. CIT

378 ITR 33High Court2015#24 most cited

What is Cheminvest Ltd. v. CIT authority for?

A disallowance under Section 14A of the Income-tax Act, 1961, for expenditure incurred in relation to exempt income cannot be made if the assessee has not earned any exempt income during the relevant previous year.

1,569

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

Cheminvest Ltd. v. CIT · Section 14A disallowance · no exempt income · exempt dividend income · expenditure related to exempt income · Section 8D · Section 115JB · Income-tax Act 1961 · Delhi High Court

Also reported as

61 Taxmann.com 118234 Taxmann 761317 ITD 33281 CTR 447

Sections most often in play

Section 14ASection 143(3)Section 8DSection 115JBSection 250Section 1961Section 37(1)Section 143(2)
Read the full judgment

Issues it is cited on

disallowance u/s 14adisallowance under section 14asection 14asection 36(1)(iii)section 115jbrevenue expendituresection 37(1)section 37section 36previous yearscrutiny assessmentsection 115

Judgments citing Cheminvest Ltd. v. CIT

ACIT, Circle- 7(1), New Delhi vs. Decent Financial Services Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5707/DEL/2019[2015-16]Status: DisposedITAT Delhi24 Nov 2022AY 2015-16

Bench: Shri C.M. Garg & Shri Pradip Kumar Kediaassessment Year: 2015-16 Acit, Vs. Decent Financial Circle-5(2), Services Pvt. Ltd., New Delhi. A-86, Dd Shed, Okhla Industrial Area, Phase-I, New Delhi. Pan: Aaacd2899P (Appellant) (Respondent) Assessee By : Shri Amit Sharma, Advocate Revenue By : Shri Kumar Pranav, Sr. Dr Date Of Hearing : 21.11.2022 Date Of Pronouncement : 24.11.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 10.04.2019 Of The Cit(A)-3, New Delhi, Relating To Assessment Year 2015-16. 2. The Ground Of Appeal Raised By The Revenue Reads As Under:- “1. On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A)Has Grossly Erred In Deleting The Disallowance Made By The Ao U/S 14A R.W. Rule 8D Of The Act Of Rs.1,62,35,930/-. 2. The Appellant Craves Leave To Add, Amend Or Forego Any Ground(S) Of Appeal At Any Time Before Or During The Hearing Of This Appeal.” 3. The Ld. Sr. Dr, Supporting The Assessment Order Dated 26.12.2017 Passed U/S 143(3) Of The Income-Tax Act, 1961 (For Short, ‘The Act’) Submitted That The Assessee Had Earned Substantial Dividend Income Of Rs.1,22,16,840/-, Therefore, The Ao Was Right In Making Disallowance U/S 14A Of The Act R.W.R. 8D Of The Income-Tax Rules, 1962 (For Short, ‘The Rules’). The Ld. Sr. Dr Submitted That The Assessee Has Capitalized Substantial Amount Of Interest Paid By Him On The Amount Invested, Therefore, The Amount Of Disallowance Has To Be Calculated Accordingly.

For Appellant: Shri Amit Sharma, AdvocateFor Respondent: Shri Kumar Pranav, Sr. DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : B : NEW DELHI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER Assessment Year: 2015-16 ACIT, Vs. Decent Financial Circle-5(2), Services Pvt. Ltd., New Delhi. A-86, DD Shed, Okhla Industrial Area, Phase-I, New Delhi. PAN: AAACD2899P (Appellant) (Respondent) Assessee by : Shri Amit Sharma, Advocate Revenue by : Shri Kumar Pranav, Sr. DR Date of Hearing : 21.11.2022 Date of Pronouncement : 24.11.2022 ORDER PER C.M. GARG, JM: This appeal filed by the Revenue is directed against the order dated 10.04.2019 of the CIT(A)-3, New D…

ACIT, Circle- 5(2), New Delhi vs. Carnation Auto India Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5399/DEL/2019[2015-16]Status: DisposedITAT Delhi24 Nov 2022AY 2015-16

Bench: Shri C.M. Garg & Shri Pradip Kumar Kediaassessment Year: 2015-16 Acit, Vs. Carnation Auto India Circle-5(2), Pvt. Ltd., 3/16, 2Nd Floor, New Delhi. Shanti Niketan, New Delhi. Pan: Aabch9733K (Appellant) (Respondent) Assessee By : None Revenue By : Shri Kumar Pranav, Sr. Dr Date Of Hearing : 21.11.2022 Date Of Pronouncement : 24.11.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Of The Cit(A)-33, New Delhi, Relating To Assessment Year 2015-16. 2. The Ground Of Appeal Raised By The Revenue Reads As Under:- “1. Whether On The Facts & In The Circumstances Of The Case, The Ld. Cit(A)Has Erred In Deleting The Disallowance Made U/S 14A Of The Income Tax Act, 1961 In Accordance With Rule 8D Of The It Rules Of Rs.1,90,22,356/-. 2. The Appellant Craves Leave For Reserving The Right To Amend, Modify, Alter, Add Or Forego Any Ground(S) Of Appeal At Any Time Before Or During The Hearing Of This Appeal.”

For Appellant: NoneFor Respondent: Shri Kumar Pranav, Sr. DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : B : NEW DELHI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER Assessment Year: 2015-16 ACIT, Vs. Carnation Auto India Circle-5(2), Pvt. Ltd., 3/16, 2nd Floor, New Delhi. Shanti Niketan, New Delhi. PAN: AABCH9733K (Appellant) (Respondent) Assessee by : None Revenue by : Shri Kumar Pranav, Sr. DR Date of Hearing : 21.11.2022 Date of Pronouncement : 24.11.2022 ORDER PER C.M. GARG, JM: This appeal filed by the Revenue is directed against the order of the CIT(A)-33, New Delhi, relating to Assessment Year 2015-16. 2. The ground o…

The Pr. Commissioner of Income Tax -18 vs. Oil Industry Development Board

ITA/1025/2019HC Delhi21 Nov 2022

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA

Section 14A

…Neutral Citation Number: 2022/DHC/005040 ITA 1025/2019 Page 1 of 3 $~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 1025/2019 THE PR. COMMISSIONER OF INCOME TAX -18 ..... Appellant Through: Mr.Ruchir Bhatia, Sr.Standing Counsle for the Revenue. versus OIL INDUSTRY DEVELOPMENT BOARD ..... Respondent Through: None % Date of Decision: 21st November, 2022 CORAM: HON'BLE MR. JUSTICE MANMOHAN HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA J U D G M E N T MANMOHAN, J (Oral): 1. Present Income Tax Appeal has been filed challenging the Order dated 12th June, 2019 passed by the Income Tax Appellate Tribunal (‘ITAT’) in…

M/S Omax Minerals Pvt. Ltd. Gadumaria, Raigarh vs. Joint Commissioner of Income Tax (OSD) Circle-1(1), Bilaspur

In the result, appeal of the assessee is allowed in terms of our aforesaid observations

ITA 122/RPR/2018[2013-14]Status: DisposedITAT Raipur17 Nov 2022AY 2013-14

Bench: Shri Ravish Sood & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.122/Rpr/2018 "नधा"रण वष" / Assessment Year : 2013-14 M/S. Omax Minerals Pvt. Ltd. Office Block-51, Gudumaria, Krishna Vihar, Raigarh (C.G.) Pan : Aabco5774H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax, Circle-1(1), Bilaspur (C.G.) ……""यथ" / Respondent

For Appellant: Shri N.C Gupta, CAFor Respondent: Shri G.N Singh, Sr. DR
Section 143(2)Section 143(3)Section 14A

…and. Our aforesaid view is fortified by the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Chettinad Logistics Pvt. Ltd. (2018) 257 Taxmann 2 (SC) and also that of the Hon’ble High Court of Delhi in the case of Cheminvest Limited Vs. CIT, (2015) 378 ITR 33 (Delhi). In the backdrop of the facts involved in the case before us r/w. the aforesaid settled position of law, we find substance in 5 M/s. Omax Minerals Pvt. Ltd. Vs. DCIT-1(1) the claim of the Ld. AR that now when the assessee company had not received any exempt dividend income during the year under consideration, therefore, no disallowance u/s…

DCIT Central Circle-30, Delhi vs. Krishak Bharti Cooperative Ltd., Delhi

In the result the appeal of the Revenue is dismissed

ITA 860/DEL/2022[2016-17]Status: DisposedITAT Delhi15 Nov 2022AY 2016-17

Bench: Shri N.K. Billaiya & Shri Kul Bharat

For Appellant: Shri K.V.S.R Krishna, CAFor Respondent: Shri Sanjay Kumar, CIT- DR

…, Madras (1992) 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in PCIT vs. IL & FS Energy Development Company Ltd (supra) and Cheminvest Limited vs. Commissioner of Income Tax-VI, (2015) 378 ITR 33. 10. Accordingly, the appeal and application are dismissed. However, it is clarified that the order passed in the present appeal shall abide by the final decision of the Supreme Court in the SLP filed in the case of PCIT vs. IL & FS Energy Development Company Ltd (supra)” 12. Respectfully following the findings of the Hon'ble High Court of Delhi,…

Krishak Bharti Cooperative Limited, Delhi vs. ACIT, Circle 29(1), Delhi

In the result the appeal of the Revenue is dismissed

ITA 581/DEL/2022[2016-17]Status: DisposedITAT Delhi15 Nov 2022AY 2016-17

Bench: Shri N.K. Billaiya & Shri Kul Bharat

For Appellant: Shri K.V.S.R Krishna, CAFor Respondent: Shri Sanjay Kumar, CIT- DR

…, Madras (1992) 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in PCIT vs. IL & FS Energy Development Company Ltd (supra) and Cheminvest Limited vs. Commissioner of Income Tax-VI, (2015) 378 ITR 33. 10. Accordingly, the appeal and application are dismissed. However, it is clarified that the order passed in the present appeal shall abide by the final decision of the Supreme Court in the SLP filed in the case of PCIT vs. IL & FS Energy Development Company Ltd (supra)” 12. Respectfully following the findings of the Hon'ble High Court of Delhi,…

Keystone Realtors Pvt Ltd, Mumbai vs. Dy CIT CC 2(4), Mumbai

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

ITA 611/MUM/2020[2014-15]Status: DisposedITAT Mumbai14 Nov 2022AY 2014-15

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Naresh KumarFor Respondent: Shri Rakesh Ranjan
Section 14ASection 250Section 37

…ment year 2022–23 and subsequent assessment years. Thus, in view of the aforesaid decision of Hon’ble Delhi High Court, we find no merits in the submission of learned DR. 11. We further find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. Therefore, respectfully following the aforesaid decision, the AO is directed to delete the disallowance made under section 14A read with Rule 8D. As a result, ground No. 1 raised in assessee’s appeal is allowed. Keystone Re…

Keystone Realtors Pvt Ltd., Mumbai vs. Dy CIT CC 2(4), Mumbai

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

ITA 1228/MUM/2020[2015-16]Status: DisposedITAT Mumbai14 Nov 2022AY 2015-16

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Naresh KumarFor Respondent: Shri Rakesh Ranjan
Section 14ASection 250Section 37

…ment year 2022–23 and subsequent assessment years. Thus, in view of the aforesaid decision of Hon’ble Delhi High Court, we find no merits in the submission of learned DR. 11. We further find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. Therefore, respectfully following the aforesaid decision, the AO is directed to delete the disallowance made under section 14A read with Rule 8D. As a result, ground No. 1 raised in assessee’s appeal is allowed. Keystone Re…

Keystone Realtors Pvt Ltd., Mumbai vs. DCIT, Central Circle-2(4), Mumbai

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

ITA 4229/MUM/2019[2015-16]Status: DisposedITAT Mumbai14 Nov 2022AY 2015-16

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Naresh KumarFor Respondent: Shri Rakesh Ranjan
Section 14ASection 250Section 37

…ment year 2022–23 and subsequent assessment years. Thus, in view of the aforesaid decision of Hon’ble Delhi High Court, we find no merits in the submission of learned DR. 11. We further find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. Therefore, respectfully following the aforesaid decision, the AO is directed to delete the disallowance made under section 14A read with Rule 8D. As a result, ground No. 1 raised in assessee’s appeal is allowed. Keystone Re…

Keystone Realtors Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Central Circle 2(4), Mumbai

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

ITA 3004/MUM/2019[2013-14]Status: DisposedITAT Mumbai14 Nov 2022AY 2013-14

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Naresh KumarFor Respondent: Shri Rakesh Ranjan
Section 14ASection 250Section 37

…ment year 2022–23 and subsequent assessment years. Thus, in view of the aforesaid decision of Hon’ble Delhi High Court, we find no merits in the submission of learned DR. 11. We further find that the Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT: [2015] 378 ITR 33 (Delhi) held that section 14A will not apply if no exempt income is received or receivable during the relevant previous year. Therefore, respectfully following the aforesaid decision, the AO is directed to delete the disallowance made under section 14A read with Rule 8D. As a result, ground No. 1 raised in assessee’s appeal is allowed. Keystone Re…

ACIT, Circle- 29(1), New Delhi vs. Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 7242/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Nov 2022AY 2014-15

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e. 15. In the A.Y. 2014-15, it is an undisputed fact on record that the assessee claimed no exempt income and hence, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2…

ACIT, Circle- 29(1), New Delhi vs. Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 7241/DEL/2018[2013-14]Status: DisposedITAT Delhi14 Nov 2022AY 2013-14

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e. 15. In the A.Y. 2014-15, it is an undisputed fact on record that the assessee claimed no exempt income and hence, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2…

Krishak Bharati Cooperative Ltd., New Delhi vs. ACIT, Circle- 30(1), New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 6365/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Nov 2022AY 2014-15

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e. 15. In the A.Y. 2014-15, it is an undisputed fact on record that the assessee claimed no exempt income and hence, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2…

Krishak Bharati Cooperative Ltd., New Delhi vs. ACIT, Circle- 30(1), New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 6364/DEL/2018[2013-14]Status: DisposedITAT Delhi14 Nov 2022AY 2013-14

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e. 15. In the A.Y. 2014-15, it is an undisputed fact on record that the assessee claimed no exempt income and hence, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2…

DCIT, Cir.-4(1), Kolkata vs. M/S Rav Dravya Pvt Ltd, Kolkata

In the result, appeal of the revenues is treated as partly allowed

ITA 103/KOL/2021[2012-13]Status: DisposedITAT Kolkata09 Nov 2022AY 2012-13

Bench: Shri Sanjay Garg, Hon’Ble & Shri Manish Borad, Hon’Blei.T.A. No. 103/Kol/2021 Assessment Year: 2012-13 Deputy Commissioner Of Income M/S. Rav Dravya Private Limited Tax, Circle-4(1), Kolkata Hastings Chambers, 2Nd Floor Vs 7/C, Kiran Shankar Roy Road Kolkata - 700001 Pan : Aabcr3154Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ravi Tulsiyan, Fca Revenue By : Md. Ghayasuddin, Cit D/R सुनवाई क" तारीख/Date Of Hearing : 06/09/2022 घोषणा क" तारीख/Date Of Pronouncement : 09/11/2022 आदेश/O R D E R Per Shri Sanjay Garg: The Present Appeal Is Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals) - Kolkata (Hereinafter The “Ld. Cit(A)”) Dt. 13/03/2020, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act’), For Assessment Year 2012-13. 2. This Revenue’S Appeal Is Time Barred By 198 Days & The Petition Seeking Condonation Of Delay Has Been Filed Stating That The Delay In Filing Of This Appeal Was Attributable To The Restrictions Imposed Due To Covid-19 Pandemic. We Have Heard Both The Sides & Find That There Is Reasonable Cause For Delay In Filing Of The Appeal On Time. Hence We Condone The Delay & Admit The Appeal For Hearing.

For Appellant: Shri Ravi Tulsiyan, FCAFor Respondent: Md. Ghayasuddin, CIT D/R
Section 14ASection 250

…incurred towards tax exempted income. 13. We find that the ld. CIT(A), in this case has deleted the disallowance made by the Assessing Officer by relying upon the following decisions of the various Hon’ble High Courts of the country:- Cheminvest Ltd. vs. CIT 378 ITR 33 (Del). CIT vs. M/s. Holcim India Pvt. Ltd. in ITA no. 486/2014 and ITA no. 299/2014; Judgment dt. 5-9-2014 I.T.A. No. 103/Kol/2021 Assessment Year: 2012-13 M/s. Rav Dravya Private Limited 10 CIT v. Shivam Motors (P.) Ltd. [2015] 230 Taxman 63 CIT vs. Ashika Global Securities Ltd. (G.A. No. 2122 of 2014) dt. 11/06/2018 In these case laws, Hon’bl…

Shri Pramod V Mundra, Nagpur vs. Income Tax Officer Ward -1(1), Nagpur

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

ITA 12/NAG/2019[2013-14]Status: DisposedITAT Nagpur07 Nov 2022AY 2013-14

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.12/Nag/2019 िनधा"रण वष" / Assessment Year: 2013-14 Shri Pramod V. Mundra, Vs. Ito, Ward-1(1), 602, 6Th Floor, Kalyani Nagpur. Apartment, 108, Farmland, Ramdaspeth, Nagpur- 440010. Pan : Abcpm2572L Appellant Respondent Assessee By : None Revenue By : Shri G. J. Ninawe Date Of Hearing : 26.09.2022 Date Of Pronouncement : 07.11.2022 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-1, Nagpur [‘The Cit(A)’] Dated 28.11.2018 For The Assessment Year 2013-14. 2. The Appellant Raised The Following Grounds Of Appeal :- “1] Learned C.I.T.(A) Erred In Confirming The Disallowance Made By A.O. U/S.L4A Amounting To Rs. 15,69,653/-. 2] Learned C.I.T.(A) Erred In Not Properly Considering Assessee’S Various Submissions & Relevant Documents Filed At The Time Of Hearing. 3] Learned C.I.T.(A) Erred In Not Properly Applying Her Mind & Only Rely On What The A.O. Say. 4] Assessee Crave To Urge Additional Grounds At The Time Of Hearing If Necessary.” 3. Briefly, The Facts Of The Case Are As Under :

For Appellant: NoneFor Respondent: Shri G. J. Ninawe
Section 143(3)Section 14A

…n’ble Supreme Court in the case of CIT vs. Chettinad Logistics P. Ltd., 95 taxmann.com 250 (SC); (iv) CIT vs. Continuum Wind Energy (India) Pvt. Ltd., 430 ITR 52 (Mad); (v) PCIT vs. Kohinoor Project Pvt. Ltd., 425 ITR 700 (Bom.); (vi) Cheminvest Ltd. vs. CIT, 378 ITR 33 (Delhi); (vii) MAN Infraprojects Ltd. (ITA No.259 of 2017 dated 09.04.2019) (Bom.). 8. The Jurisdictional High Court in the case of PCIT vs. Kohinoor Project Pvt. Ltd. (supra) placing reliance on the decision of the Hon’ble Delhi High Court in the case of Cheminvest Ltd. vs. CIT (supra) and its own decision in the case of MAN Infraprojects Ltd. (s…

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

…e insertion of the explanation to section 14A. In this view of the matter, and in the light of consistent stand by co-ordinate benches, following Hon'ble Delhi High Court's judgment in the case of Cheminvest Ltd v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33, we uphold the plea of the assessee that no disallowance under section 14A was and in the circumstances of the case. The plea of the Assessing Officer is thus rejected. As regards the disallowance of Rs. 9,87,978/-it is sustained on the basis of computation given in the alternative plea of the assessee, but given the fact that the basic plea of no…

The DCIT, Circle-1(1)(2), Ahmedabad vs. M/S. Clp India Pvt. Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 290/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad04 Nov 2022AY 2015-16
For Appellant: Shri Biren Shah, A.RFor Respondent: Shri James Kurian, CIT-DR
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member Assessment Year 2015-16 The DCIT, M/s. CLP India Pvt. Circle-1(1)(2), Ltd. Ahmedabad Vs Room No. 207, 2nd Floor, Aaykar (Appellant) Bhavan, Vejalpur, Anandnagar Road, Vejalpur, Ahmedabad PAN: AABCT9663N (Respondent) Appellant by : Shri Biren Shah, A.R. Respondent by : Shri James Kurian, CIT-DR Date of hearing : 08-08-2022 Date of pronouncement : 04-11-2022 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Revenue against order…

National Fertilizers Ltd., New Delhi vs. Addl. CIT, Range- 18, New Delhi

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 1148/DEL/2018[2011-12]Status: DisposedITAT Delhi02 Nov 2022AY 2011-12

Bench: Shri Anil Chaturvedia N D Shri Challa Nagendra Prasad

For Appellant: Shri Aman Garg, C. AFor Respondent: [CIT] – D. R
Section 43B

…allowance made under section 14A of the Act of Rs.12,228/-. 38. The ld. Counsel submits that during the assessment year the assessee did not receive any exempt income and the decision of the Hon’ble Delhi High Court in the case of Cheminvest Limited Vs. CIT (378 ITR 33) squarely applies to the facts of the case. 39. The ld. DR placed reliance on the order of the Assessing Officer. Cross I.T.A. Nos. 1148 & 1041/Del/2018 40. Heard rival submissions perused the order of the High Court and we find that this issue is squarely covered in favour of the assessee by the decision of the jurisdictional High Court in the…

ACIT, Circle- 17(2), New Delhi vs. National Fertilizers Ltd., New Delhi

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 1041/DEL/2018[2011-12]Status: DisposedITAT Delhi02 Nov 2022AY 2011-12

Bench: Shri Anil Chaturvedia N D Shri Challa Nagendra Prasad

For Appellant: Shri Aman Garg, C. AFor Respondent: [CIT] – D. R
Section 43B

…allowance made under section 14A of the Act of Rs.12,228/-. 38. The ld. Counsel submits that during the assessment year the assessee did not receive any exempt income and the decision of the Hon’ble Delhi High Court in the case of Cheminvest Limited Vs. CIT (378 ITR 33) squarely applies to the facts of the case. 39. The ld. DR placed reliance on the order of the Assessing Officer. Cross I.T.A. Nos. 1148 & 1041/Del/2018 40. Heard rival submissions perused the order of the High Court and we find that this issue is squarely covered in favour of the assessee by the decision of the jurisdictional High Court in the…