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 367,368 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

Dy CIT Circle-2 (1)(2), Mumbai vs. M/S Foods and Inns Ltd., Mumbai

In the result, appeals filed by the Revenue are dismissed and cross objections filed by the assessee is allowed for statistical purpose

ITA 6859/MUM/2019[2013-14]Status: DisposedITAT Mumbai21 Feb 2022AY 2013-14

Bench: Shri Laliet Kumar, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Appellant: Shri Nitin KulkarniFor Respondent: Shri Achal Sharma
Section 14ASection 40Section 43(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “F” BENCH, MUMBAI BEFORE SHRI LALIET KUMAR, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER ITA NOs. 6859, 6860 & 6862/MUM/2019 (A.Ys: 2013-14, 2014-15 & 2015-16) DCIT – Circle – 2(1)(2) v. M/s. Food and Inns Ltd., Sion Trombay Road, Punjabwadi Room No. 561, 5th Floor Deonar, Mumbai - 400088 Aayakar Bhavan, M.K. Road Mumbai - 400020 PAN: AAACF0521C (Appellant) (Respondent) CO NOs. 132, 133 & 135/MUM/2021 [ARISING OUT OF ITA NOs. 6859, 6860 & 6862/MUM/2019 (A.Ys: 2013-14, 2014-15 & 2015-16)] M/s. Food and Inns Ltd., v. DCIT – circl…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 146/BANG/2021[2017-18]Status: DisposedITAT Bangalore31 Jan 2022AY 2017-18

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC). (v) Pr.Commissioner of Income Tax-2 V. Caraf Builders & Constructions (P) Ltd (2019) 112 Taxmann.com 322 (SC) (vi) CCI Ltd V. JCIT, Udupi Range in ITA No.359/2011. (vii) Cheminvest Ltd V. CIT-IV (2015) 61 Taxmann.com 118 (Delhi) 70. It was submitted that the ITAT, Bangalore in the case of Income Tax Officer, Ward-4(1)(1), Bengaluru Vs. M/s.J.P.Distilleries (P) Ltd for the A.Ys.2010-11 and 2011-12, held that, in the absence of exempt income no disallowance can be made under the provisions of section 14A of the Act. 71. It was further submitted by ld. AR t…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 145/BANG/2021[2015-16]Status: DisposedITAT Bangalore31 Jan 2022AY 2015-16

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC). (v) Pr.Commissioner of Income Tax-2 V. Caraf Builders & Constructions (P) Ltd (2019) 112 Taxmann.com 322 (SC) (vi) CCI Ltd V. JCIT, Udupi Range in ITA No.359/2011. (vii) Cheminvest Ltd V. CIT-IV (2015) 61 Taxmann.com 118 (Delhi) 70. It was submitted that the ITAT, Bangalore in the case of Income Tax Officer, Ward-4(1)(1), Bengaluru Vs. M/s.J.P.Distilleries (P) Ltd for the A.Ys.2010-11 and 2011-12, held that, in the absence of exempt income no disallowance can be made under the provisions of section 14A of the Act. 71. It was further submitted by ld. AR t…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 144/BANG/2021[2014-15]Status: DisposedITAT Bangalore31 Jan 2022AY 2014-15

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC). (v) Pr.Commissioner of Income Tax-2 V. Caraf Builders & Constructions (P) Ltd (2019) 112 Taxmann.com 322 (SC) (vi) CCI Ltd V. JCIT, Udupi Range in ITA No.359/2011. (vii) Cheminvest Ltd V. CIT-IV (2015) 61 Taxmann.com 118 (Delhi) 70. It was submitted that the ITAT, Bangalore in the case of Income Tax Officer, Ward-4(1)(1), Bengaluru Vs. M/s.J.P.Distilleries (P) Ltd for the A.Ys.2010-11 and 2011-12, held that, in the absence of exempt income no disallowance can be made under the provisions of section 14A of the Act. 71. It was further submitted by ld. AR t…

Tanglin Developments Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle-1(3), Bangalore

In the result, assessee’s appeals are allowed

ITA 143/BANG/2021[2013-14]Status: DisposedITAT Bangalore31 Jan 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.

For Appellant: Shri C Ramesh, C.AFor Respondent: Shri Jairam Raipura, CIT(DR OSD)
Section 43A

…. Reliance Industries Ltd (2019) 102 Taxmann.com 52 (SC). (v) Pr.Commissioner of Income Tax-2 V. Caraf Builders & Constructions (P) Ltd (2019) 112 Taxmann.com 322 (SC) (vi) CCI Ltd V. JCIT, Udupi Range in ITA No.359/2011. (vii) Cheminvest Ltd V. CIT-IV (2015) 61 Taxmann.com 118 (Delhi) 70. It was submitted that the ITAT, Bangalore in the case of Income Tax Officer, Ward-4(1)(1), Bengaluru Vs. M/s.J.P.Distilleries (P) Ltd for the A.Ys.2010-11 and 2011-12, held that, in the absence of exempt income no disallowance can be made under the provisions of section 14A of the Act. 71. It was further submitted by ld. AR t…

Assistant Commissioner of Income-Tax, Circle - 6, Pune vs. Silver Jubilee Motores Ltd, Pune

In the result, the appeal is partly allowed

ITA 1757/PUN/2017[2013-14]Status: DisposedITAT Pune28 Jan 2022AY 2013-14

Bench: Shri R.S. Syal & Shri Partha Sarathi Chaudhury"नधा"रण वष" / Assessment Year : 2013-14 Acit, Circle-6, Vs. Silver Jubilee Motors Ltd., Pune 12, Moledina Road, Camp, Pune 411001 Pan : Aahcs8736P Appellant Respondent

Section 139Section 201(1)Section 40

…wance to the extent of exempt income, against which the Revenue has approached the Tribunal. 11. Having heard the rival submissions and gone through the relevant material on record, we find that the Hon'ble Delhi High Court in Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) has held that if there is no exempt income, there can be no question of making any disallowance u/s 14A of the Act. Similar view has been taken by the Hon'ble Delhi High Court in CIT vs. Holcim India P. Ltd. (2014) 90CCH 081-Del-HC. More recently the Hon’ble jurisdictional High Court in Pr. CIT VS. Kohinoor Projects Pvt. Ltd. (2020) 425 IT…

Tata Realty and Infrastructure Ltd, Mumbai vs. Ast CIT 2(3)(1), Mumbai

ITA 763/MUM/2020[2015-16]Status: DisposedITAT Mumbai28 Jan 2022AY 2015-16
For Appellant: Aarti VissanjiFor Respondent: Sanjeev Kashyap
Section 115JSection 143(2)Section 143(3)

…e during the year under consideration. In this regard, we have perused the decision of Hon’ble Bombay High Court in the case of Pr. CIT Vs. Ballarpur Industries ltd. (ITA No. 51 of 2016) & Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), wherein it is held that if no exempt income is earned or received by the assessee then no disallowance u/s 14A should be made. Following the decision of the jurisdictional High Court and other referred as supra, we don’t find any infirmity in the decision of the ld. CIT(A), therefore, both the ground of appeal of the revenue stand dismissed…

Jt CIT(OSD) 2(3)(1), Mumbai vs. M/S Tata Realty and Infrastructure Ltd., Mumbai

ITA 730/MUM/2020[2015-16]Status: DisposedITAT Mumbai28 Jan 2022AY 2015-16
For Appellant: Aarti VissanjiFor Respondent: Sanjeev Kashyap
Section 115JSection 143(2)Section 143(3)

…e during the year under consideration. In this regard, we have perused the decision of Hon’ble Bombay High Court in the case of Pr. CIT Vs. Ballarpur Industries ltd. (ITA No. 51 of 2016) & Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), wherein it is held that if no exempt income is earned or received by the assessee then no disallowance u/s 14A should be made. Following the decision of the jurisdictional High Court and other referred as supra, we don’t find any infirmity in the decision of the ld. CIT(A), therefore, both the ground of appeal of the revenue stand dismissed…

Mr. Amit Mafatlal Shah, Mumbai vs. Pr. CIT - 19, Mumbai

ITA 171/MUM/2021[2015-16]Status: DisposedITAT Mumbai21 Jan 2022AY 2015-16

Bench: Shri Shamim Yahya & Shri Kuldip Singhassessment Year: 2015-16

For Appellant: Shri Vimal Punmiya, A.RFor Respondent: Ms. Shailja Rai, D.R
Section 143(3)Section 14ASection 263Section 57Section 68Section 69C

…section 14A is not attracted as no exempt income has been earned. When no exempt income has been earned no disallowance under section 14A is to be made as has been held by Hon’ble Delhi High Court in the case of Cheminvest Ltd. vs. CIT reported in (2015) 378 ITR 33. 16. Moreover, when the assessee has borrowed funds from the partnership firm and paid interest to the partnership firm in his individual capacity again section 14A is not attracted. Had the 9 Mr. Amit Mafatlal Shah assessee borrowed funds on interest and invested in item whose income is exempt then interest would not have been allowed as expens…

M/S. Tapi Prestressed Products Ltd, Jalgaon vs. Deputy Commissioner of Income-Tax, Circle - 2, Jalgaon

In the result, the appeal is allowed

ITA 1661/PUN/2018[2013-14]Status: HeardITAT Pune18 Jan 2022AY 2013-14

Bench: Shri R.S. Syal & Shri S.S. Viswanethra Ravi"नधा"रण वष" / Assessment Year : 2013-14 M/S. Tapi Prestressed Products Ltd., Vs. Dcit, Shiwar, Bhusawal, Circle-2, Dist. Jalgaon – 425 301 Jalgaon Pan : Aaact6669D Appellant Respondent

Section 14A

…ady been recorded in the impugned order that the assessee did not earn any exempt income during the year. Despite that, the AO has computed disallowance u/s.14A amounting to Rs.62,34,039/-. 5. The Hon'ble Delhi High Court in Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) has held that if there is no exempt income, there can be no question of making any disallowance u/s 14A of the Act. Similar view has been taken by the Hon'ble Delhi High Court in CIT vs. Holcim India P. Ltd. (2014) 90CCH 081-Del-HC. More recently the Hon’ble jurisdictional High Court in Pr. CIT VS. Kohinoor Projects Pvt. Ltd. (2020) 425…

Gvk Transportation Private Limited, Secunderabad vs. ACIT, Circle-2(2), Hyderabad

Appeal is partly allowed in above terms

ITA 311/HYD/2017[2012-13]Status: DisposedITAT Hyderabad11 Jan 2022AY 2012-13

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahuassessment Year: 2012-13 Gvk Transportation Vs. The Asst. Commissioner Of Private Limited, Income Tax, Secunderabad. Circle – 2(2), Hyderabad. Pan : Aadcg5295P (Appellant) (Respondent) Assessee By: Ms. Khyati Chadda Revenue By: Shri Yvst Sai. Date Of Hearing: 06.01.2022 Date Of Pronouncement: 11.01.2022 O R D E R Per S. S. Godara, J.M. This Assessee’S Appeal For A.Y. 2012-13 Arises From The Commissioner Of Income Tax (Appeals) - 2, Hyderabad’S Order Dated 28.07.2016 In Ita No.0049/2015-16, Involving Proceedings U/S. 143(3) Of The Income Tax Act, 1961 [In Short, ‘The Act’]. Heard Both The Parties. Case File Perused.

For Appellant: Ms. Khyati ChaddaFor Respondent: Shri YVST Sai
Section 143(3)Section 14ASection 36(1)(iii)

…tified.” 3. It is noticed at the outset that regarding the assessee’s former substantive ground that it has not derived any exempt income in the impugned assessment year so as to set section 14A r.w. Rule 8D in motion. Case law Chemnivest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), CIT Vs. Corrtech Energy Pvt. Ltd. 223 2 Taxmann.com 130 (Guj) and CIT Vs. CIT Vs. Chettinad Logistics Pvt. Limited (2017) 80 taxmann.com 221 (Madras) holds that the impugned disallowance is attracted only in case an assessee derives exempt income and not otherwise. We thus accept the assessee’s instant former substantive grounds for this p…

Dy. Commissioner of Income Tax, Circle-1(2), Hyderabad vs. Caspian Impact Investments Private Limited, Hyderabad

Appeal is dismissed in above terms

ITA 291/HYD/2019[2015-16]Status: DisposedITAT Hyderabad06 Jan 2022AY 2015-16

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri Aditya Modani, ARFor Respondent: Shri T.Sunil Goutam, DR
Section 143(3)Section 14A

…disallowance may be upheld. In this connection, he relied on the following case law: i. CIT Vs. Chettinad Logistics Pvt. Ltd., [80 taxmann.com 221] (Madras); ii. CIT Vs. Corrtech Energy Pvt. Ltd., [223 Taxman 130] (Guj); iii. Cheminvest Ltd., Vs. CIT (2015) [378 ITR 33] (Del) Their lordships hold that Section 14A read with Rule 8D applies only in relation to an assessee’s exempt income and not otherwise. It is an admitted fact that the assessee has not derived any exempt income in the relevant previous year. We therefore sustain the order of CIT(A) under challenge for this precise reason alone. 4. This Revenue’s…

ACIT, Circle-15(1), New Delhi vs. Lemon Tree Hotel Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1450/DEL/2018[2014-15]Status: DisposedITAT Delhi04 Jan 2022AY 2014-15

Bench: Shri Kul Bharat & Shri P.K.Kedia[Assessment Year : 2014-15] Acit, Vs Lemon Tree Hotels Ltd., Circle-15(1), B-6/17, Safderjung Enclave, New Delhi. New Delhi-110029. Pan-Aacck1698R Appellant Respondent Appellant By Ms. Princy Singhla, Sr.Dr Respondent By Shri Mukal Baga, Adv. & Shri Vikas Singh, Ca Date Of Hearing 29.11.2021 Date Of Pronouncement 04.01.2022

Section 115JSection 143(1)Section 143(3)Section 14A

…n his submission has clearly submitted that the assessee company has not -earned any dividend income in the [Assessment Year : 2014-15] current/financial year. It has also-relied on jurisdiction decision of the Delhi High Court in the case of Cheminvest Ltd. 378 ITR 33 and stated that no disallowance u/s 14A can be made as there is no tax free income. The appellant has also furnished a number of decisions which it has claimed to be in its favor. The Assessing Officer simply rejected the contention of the appellant and stated that the invocation of Rule 80 was mandatory and the computation for the purposes of ded…

DCIT, New Delhi vs. M/S Futurz Next Services Ltd., New Delhi

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

ITA 3556/DEL/2016[2011-12]Status: DisposedITAT Delhi04 Jan 2022AY 2011-12
For Appellant: Shri Ved Jain, Advocate &For Respondent: Shri Satpal Gulati, CIT, DR
Section 132Section 142Section 153A

…n. It is an admitted fact that the assessee company has not earned any exempt income or dividend income during the year, a fact brought on record by the AO himself. It has been held by the Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT (2015) 378 ITR 33 that in absence of any exempt income, disallowance under Section 14-A of the Act of any amount was not permissible. Similar view has been taken in the case of PCIT vs. McDonald’s India Pvt. Ltd, vide ITA 725 of 2018. Further, the SLP filed by the Revenue on this issue has been dismissed by the Hon’ble Supreme Court in the case of PCIT Vs. Oil Indu…

DCIT, Circle-27(1), New Delhi vs. Usha Brecco Ltd, New Delhi

In the result, appeal of the Revenue is dismissed

ITA 7842/DEL/2018[2014-15]Status: DisposedITAT Delhi22 Dec 2021AY 2014-15

Bench: Shri C. N. Prasad & Shri Pradip Kumar Kedia[Assessment Year : 2014-15]

Section 143(3)Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “C” BENCH: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI C. N. PRASAD, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER [Assessment Year : 2014-15] DCIT vs Usha Brecco Ltd. Room No. 193, C. R. Building 701, Surya Kiran Building, New Delhi 19-K G Marg, Connaught Place, New Delhi-110092 PAN: AAACU4023E APPELLANT RESPONDENT Appellant by None Respondent by Sh. Umesh Takyar, SR. DR Date of Hearing 22.12.2021 Date of Pronouncement 22.12.2021 ORDER PER C. N. PRASAD, JM : This appeal is filed by the Revenue against the order of the Ld.CIT(A)-9 dated 05/09/2…

ACIT, Circle- 13(2), New Delhi vs. Jindal Saw Ltd., Delhi

In the result, appeal of the Revenue is dismissed

ITA 1248/DEL/2018[2014-15]Status: DisposedITAT Delhi21 Dec 2021AY 2014-15

Bench: Shri C. N. Prasad & Shri Pradip Kumar Kedia[Assessment Year : 2014-15]

Section 143(3)Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “C” BENCH: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI C. N. PRASAD, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER [Assessment Year : 2014-15] ACIT vs Jindal Saw Ltd. Circle-13(2) 28, Najafgarh Road, Shivaji C. R. Building, I. P. Estate, Marg, Ramesh Nagar, New Delhi New Delhi-110092 AABCS7280C APPELLANT RESPONDENT Appellant by None Respondent by Sh. T. Kipgen, CIT DR Date of Hearing 21.12.2021 Date of Pronouncement 21.12.2021 ORDER PER C. N. PRASAD, JM : This appeal is filed by the Revenue against the order of the Ld.CIT(A)-36, dated 14/1/201…

ACIT, Circle-11(2), New Delhi vs. Hindustan Thermal Project Ltd, New Delhi

In the result, captioned appeal by Revenue is dismissed

ITA 7862/DEL/2018[2013-14]Status: DisposedITAT Delhi20 Dec 2021AY 2013-14

Bench: Shri C.N. Prasad & Shri Pradip Kumar Kedia

For Appellant: NoneFor Respondent: Shri T. Kipgen , CIT(DR)
Section 143(3)Section 14A

…ITA No.-7862/Del/2018 Hindustan Thermal Project Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH: ‘C’: NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI C.N. PRASAD, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA No:- 7862/Del/2018 (Assessment Year: 2013-14) ACIT, M/s Hindustan Thermal Circle-11(2), Vs. Project Pvt. Ltd., New Delhi. New Delhi. APPELLANT RESPONDENT PAN No: AAFCM6703L Revenue By : Shri T. Kipgen , CIT(DR) Assessee By : None Date of hearing : 20.12.2021 Date of Pronouncement : 20.12.2021 PER PRADIP KUMAR KEDIA, AM : The captioned appeal has been filed by the…

ITO-3(3)(3), Mumbai vs. M/S. Sp Ports P. Ltd., Mumbai

In the result, the appeal filed by the revenue is hereby dismissed

ITA 1691/MUM/2020[2015-16]Status: DisposedITAT Mumbai16 Dec 2021AY 2015-16
For Appellant: NoneFor Respondent: Shri Om Prakash Singh (DR)
Section 115JSection 143(2)Section 14A

…his exercise of apportionment of expenditure carried out by the AO, CIT(A) disallowed the entire deduction of expenditure. That view of the CIT(A) was clearly untenable and rightly set aside by the ITAT.” 4.1.2 Further, in the case of Cheminvest Ltd. vs. CIT 378 ITR 33 (Del). The Hon’ble Delhi High Court has held as. “In the context of the facts enumerated hereinbefore the Court answer the holding that the expression does not form part of the total income’ in section 14A of the envisages that there should be an actual receipt of income, which Is not net ne purpose of income during the relevant previous year for…

Shree Balaji Engicons Pvt. Ltd, Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

ITA 195/CTK/2019[204-15]Status: DisposedITAT Cuttack15 Dec 2021

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…nce based upon the investments made by the assessee. The CIT(A) and the Income Tax Appellate Tribunal (ITAT) allowed the assessee's appeals by following the ruling in 118 ITA Nos.193-195/CTK/2019 'Chemin vest Ltd. v. CIT [2015/61taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi); the Court had then held that in the absence of any exempt income disallowance was impermissible. For the relevant Assessment Year (2013-14). concededly. the assessee did not report any exempt income. Consequently, no substantial question of law arises; the appeal is therefore dismissed along with the pending application. [Emphasis Supplie…

M/S- Sbep-Gril(Joint Venture), Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

ITA 194/CTK/2019[2014-15]Status: DisposedITAT Cuttack15 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…nce based upon the investments made by the assessee. The CIT(A) and the Income Tax Appellate Tribunal (ITAT) allowed the assessee's appeals by following the ruling in 118 ITA Nos.193-195/CTK/2019 'Chemin vest Ltd. v. CIT [2015/61taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi); the Court had then held that in the absence of any exempt income disallowance was impermissible. For the relevant Assessment Year (2013-14). concededly. the assessee did not report any exempt income. Consequently, no substantial question of law arises; the appeal is therefore dismissed along with the pending application. [Emphasis Supplie…