How many judgments cite Cheminvest Ltd. v. CIT?

1,569 judgments on BharatTax cite Cheminvest Ltd. v. CIT (378 ITR 33), spanning 2015 to 2026.

Which sections of the Income Tax Act does Cheminvest Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 14A, Section 143(3), Section 8D, Section 115JB, Section 250, Section 1961.

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 14A Section 143(3)Section 8D Section 115JB Section 250 Section 1961 Section 37(1)Section 143(2)

Read the full judgment

Issues it is cited on

disallowance u/s 14a disallowance under section 14a section 14a section 36(1)(iii)section 115jb revenue expenditure section 37(1)section 37 section 36 previous year scrutiny assessment section 115

Judgments citing Cheminvest Ltd. v. CIT

Addl. CIT, Special Range- 2, New Delhi vs. C.L. Educate Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 170/DEL/2018[2014-15]Status: DisposedITAT Delhi15 Jun 2021AY 2014-15

Bench: Shri O.P. Kant & Shri K.Narasimha Chary

Section 14Section 14ASection 36Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘B’ NEW DELHI BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER & SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER ITA No.- 170 /Del/ 2018 (Assessment Year: 2014-15) Addl CIT, Vs. C L Educate Ltd special range-2 R-90, greater Kailash-1, New Delhi. New Delhi. PAN No. AAACC3885C Appellant Respondent Revenue by Sh. Mahesh Thakur, Sr. DR Assessee by Sh. Rakesh K Sehgal, CA Date of hearing: 8/4/2021 Pronouncement on 15/6/2021 ORDER PER K. NARASIMHA CHARY, JM. Challenging the order dated 7/9/2017 in appeal No. 10478/16-17 of CIT (A)-2 passed by the learned Commissioner of Income…

DCIT, New Delhi vs. M/S. Paramount Communication Pvt. Ltd., New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 2288/DEL/2017[2010-11]Status: DisposedITAT Delhi15 Jun 2021AY 2010-11

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

…e impugned assessment year has not received any dividend income, therefore, the provision of section 14A is not applicable. For the above proposition, he relied on the decision of the Hon’ble Delhi High Court in the case of Cheminvest Ltf. Vs CIT reported in 378 ITR 33. Without prejudice to the above, he submitted that there was no fresh investment, inasmuch as, total investment as on 31.3.2008 and 31.3.2009 was Rs.27,39,71,001/- (page 29 of the paper hook). He submitted that notwithstanding that section 14A was not attracted and there was no fresh investment, still the Assessee has suo- moto disallowed Rs.27…

Paramount Communications Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 1378/DEL/2017[2010-11]Status: DisposedITAT Delhi15 Jun 2021AY 2010-11

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

M/S. Paramount Communictions Ltd., New Delhi vs. DCIT, New Delhi

In the result, ITA No.767/Del/2014 is partly allowed,

ITA 767/DEL/2014[2009-10]Status: DisposedITAT Delhi15 Jun 2021AY 2009-10

Bench: Shri R.K. Panda & Ms. Suchitra Kamble[Assessment Year: 2009-10]

Section 43A

ACIT, Circle-1, Warangal vs. Northern Power Distribution Company of Telangana Limited, Warangal

ITA 186/HYD/2017[2013-14]Status: DisposedITAT Hyderabad11 Jun 2021AY 2013-14

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

For Appellant: Shri V.Siva Kumar, ARFor Respondent: Shri R.Dipak, DR

Section 14Section 143(3)Section 14A

…has not derived any exempt income in the relevant previous year. Case law:- i. CIT Vs. Chettinad Logistics Pvt. Ltd., [80 taxmann.com 221] (Madras); :- 3 -: ii. CIT Vs. Corrtech Energy Pvt. Ltd., [223 Taxman 130] (Guj); iii. Cheminvest Ltd., Vs. CIT (2015) [378 ITR 33] (Del) holds that Section 14A read with Rule 8D applies only in relation to an assessee’s exempt income and not otherwise. We therefore affirming the CIT(A)’s findings deleting the impugned disallowance. The Revenue fails in its first substantive ground therefore. 4. We next come to Revenue’s second substantive ground that the Assessing Officer…

DCIT 11 (1)(1), Mumbai vs. M/S Qing Ambay Developers Corporation Ltd., Mumbai

In the result, for statistical purpose, the appeal is Allowed

ITA 7128/MUM/2019[2015-16]Status: DisposedITAT Mumbai04 Jun 2021AY 2015-16

Bench: Shri S Rifaur Rahman & Shri Pavan Kumar Gadale

For Appellant: Shri Rajesh Mishra, DRFor Respondent: None

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

…vs. Oil Industry Development Board [2019] 262 Taxmann 102 [SC], wherein it is held that In the absence of any exempt income, disallowance u/ s 14A 86 Rule 8D of the Act of any amount is not permissible (Essar Teleholdings 401 ITR 445 (SC) followed, Cheminvest 378 ITR 33 (Del) approved) 6.4 Further reliance was placed on following cases: a). The Bombay High Court in the case of PCIT vs. Ballarpur Industries Ltd.(85 taxmann.com 13) b). Hon'ble Apex Court's dismissal of SLP filed by the revenue against the decision given by the Madras High Court in the case of CIT. (Central)-1 vs. Chettinad Logistics (P.) Ltd.(95 ta…

Victory Transformers and Swithgears Limited, Medchal, R.R.Dist vs. DCIT, Circle-17(2), Hyderabad

Appeal is partly allowed in above

ITA 737/HYD/2017[2012-13]Status: DisposedITAT Hyderabad31 May 2021AY 2012-13

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu(Through Virtual Hearing) M/S. Victory Transformers & Switchgears Limited, Medchal, R.R. District. Pan Aabcv 9082D …..Appellant. Vs. Dy. Commissioner Of Income Tax, Circle 17(2), Hyderabad. …..Respondent.

For Appellant: Shri S. Rama Rao, AdvocateFor Respondent: Shri R. Dipak (D.R.)

Section 143(3)Section 14ASection 28Section 40

…of section 14A r.w. Rule 8D disallowance of Rs.29,09,138 made by both the lower authorities. It emerges at the outset that the assessee has not derived any exempt income in the impugned assessment year. That being so, we quote Cheminvest Ltd. Vs. CIT (2015) 378 ITR 33 (Del); CIT Vs. Chettinad Logistics Pvt. Ltd. 80 taxmann.com 221 (Mad) and CIT Vs. Corretech Energy Pvt. Ltd. 223 Taxman 130 3 (Guj) that the impugned disallowance does not apply in absence of any such exempt income. The same is directed to be deleted for this precise reason alone. 4. Next comes section 40(a)(ia) disallowance of Rs.7,31,668 pe…

Hydel Construction Pvt. Ltd., New Delhi vs. DCIT, Circle-11(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 200/DEL/2018[2013-14]Status: DisposedITAT Delhi28 May 2021AY 2013-14

Bench: Shri G.S. Pannu & Shri Kul Bharatassessment Year : 2013-14 Hydel Construction Pvt.Ltd., Dcit, C-287, Defence Colony, Vs Circle-11(2), New Delhi-110024. New Delhi. Pan-Aaach3012Q Appellant Respondent Appellant By Sh. Aloke Periwal, Ca. Respondent By Ms. Sunita Singh, Cit Dr Date Of Hearing 13.04.2021 Date Of Pronouncement 28.05.2021

Section 143(3)Section 14ASection 2

…owance can be made by invoking Section 14A of the Act r.w.Rule 8D of Income Tax Rules, 1962. To buttress this contention, Ld. Counsel for the assessee relied on the judgement of Hon’ble Delhi High Court rendered in the case of Cheminvest Ltd. vs CIT [2015] 378 ITR 33 (Delhi). 2 | P a g e 8. We have heard the rival submissions and perused the material available on record. Ld.CIT(A) sustained addition by observing as under:- 8. “In this case, the disallowance u/s 14A of the Act r.w.rule 8D of Rs.8,88,582/- has been contested by the appellant. The A.O. had made the disallowance u/s 14A of the Act read with Ru…

Vijai Electricals Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-17(2), Hyderabad

In the result, both the appeals are allowed in above terms

ITA 1534/HYD/2017[2014-15]Status: DisposedITAT Hyderabad27 May 2021AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Rama RaoFor Respondent: Shri Sunil Kumar Pandey

Section 139(1)Section 143(3)Section 14ASection 36Section 43B

…osition of law that the provisions of section 14A can be applied to quantify the expenses in relation to exempt income. Since the exempt income is Nil, section 14A will not apply. The Hon’ble Delhi High Court in the case of Cheminvest Ltd., reported in (2015) 378 ITR 33 (Del.) has held that section 14A will not apply where no exempt income is received or receivable during the relevant assessment year. 8.1 In the case under consideration, we find that the investments were made and no exempt income was earned from the investment so made, the provisions of Section 14A will not applicable to the case of assessee. Th…

Vijai Electricals Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-17(2), Hyderabad

In the result, both the appeals are allowed in above terms

ITA 1533/HYD/2017[2013-14]Status: DisposedITAT Hyderabad27 May 2021AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri S. Rama RaoFor Respondent: Shri Sunil Kumar Pandey

Section 139(1)Section 143(3)Section 14ASection 36Section 43B

Asst CIT Circle-9 (3)(2), Mumbai vs. M/S Future Brands Ltd., Mumbai

The appeal stands dismissed

ITA 7302/MUM/2019[2016-17]Status: DisposedITAT Mumbai12 May 2021AY 2016-17

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील िं./ I.T.A. No.7302/Mum/2019 (धििाारण वर्ा / Assessment Year: 2016-17) Acit-9(3)(2) M/S Future Brands Limited Room No.418, 4Th Floor Gf, Knowledge House बिाम/ Aaykar Bhavan, M.K. Road Off. Jogeshwari Vikhroli Link Road Vs. Mumbai-400 020 Shyam Nagar, Jogeshwari (E) Mumbai – 400 060 स्थायीलेखा िं./ जीआइआर िं./ Pan/Gir No.Aabcf-0462-H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : Assessee By : Ms. Dinkle Hariya – Ld. Ar Revenue By : Ms. Usha Gaikwad – Ld. Sr. Dr ुनवाई की तारीख/ : 12/05/2021 Date Of Hearing घोषणा की तारीख / : 12/05/2021 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal ()

For Appellant: Ms. Dinkle Hariya – Ld. ARFor Respondent: Ms. Usha Gaikwad – Ld. Sr. DR

Section 143(3)Section 14A

…Tribunal vide ITA No.5561/Mum/2016 order dated 3 ITA 7302/M/2019 M/s Future Brands Limited Assessment Year: 2016-17 29/01/2018 by dismissal of revenue’s appeal. Reliance has been placed on the decision of Hon’ble Delhi High Court in Cheminvest Ltd. V/s CIT (378 ITR 33). Facts being pari-materia the same, taking the same view, we dismiss the appeal. 6. The appeal stands dismissed. Order pronounced on 12th May, 2021. (Mahavir Singh) (Manoj Kumar Aggarwal) उपाध्यक्ष / Vice President लेखा दस्य / Accountant Member मुिंबई Mumbai; सदनािंक Dated : 12/05/2021 Sr.PS, Jaisy Varghese आदेशकीप्रधिधलधपअग्रेधर्ि/Copy of the…

Dy. Commissioner of Income Tax, Circle-3(2), Hyderabad vs. Soma Highways Private Limited, Hyderabad

In the result, appeal of the revenue is dismissed

ITA 2240/HYD/2018[2015-16]Status: DisposedITAT Hyderabad10 May 2021AY 2015-16

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2015-16 Dy. Commissioner Of Vs. Soma Highways Pvt. Income-Tax, Ltd., Hyderabad. Circle – 3(2), Hyderabad Pan – Aancs 2909 Q (Appellants) (Respondent) Assessee By: Shri Rohit Mujumdar Revenue By: Shri Mohd. Afzal Date Of Hearing: 16/03/2021 Date Of Pronouncement: 10/05/2021 O R D E R Per L.P. Sahu, Am: This Appeal Filed By The Revenue For Ay 2015-16 Is Directed Against The Cit(A) - 3, Hyderabad’S Order, Dated 18/09/2018 Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961 ; In Short “The Act”.

For Appellant: Shri Rohit MujumdarFor Respondent: Shri Mohd. Afzal

Section 143(3)Section 14A

…osition of law that the provisions of section 14A can be applied to quantify the expenses in relation to exempt income. Since the exempt income is Nil, section 14A will not apply. The Hon’ble Delhi High Court in the case of Cheminvest Ltd., reported in (2015) 378 ITR 33 (Del.) has held that section 14A will not apply where no exempt income is received or receivable during the relevant assessment year. 3 I.T.A. No. 2240/Hyd/2018 Soma Highways Pvt. Ltd., Hyd. 5.1 In the case under consideration, we find that the investments were made purely on account of commercial necessity and as no exempt income was earned fr…

Creamline Dairy Projects Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-1(2), Hyderabad

Appeal is allowed in above terms

ITA 937/HYD/2018[2014-15]Status: DisposedITAT Hyderabad06 May 2021AY 2014-15

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

For Appellant: Shri K.C.Devdas, ARFor Respondent: Shri Rohit Mujumdar, DR

Section 143(3)Section 14A

…the relevant previous year. 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. We therefore delete the impugned disallowance. 4. This assessee’s appeal is allowed in above terms. Order pronounced in the open court on 06th May, 2021 (LAXMI PRASAD SAHU) JUDICIAL MEMBER Hyderabad, Dated: 0…

Kumar Properties and Real Estate Private Limited, Pune vs. Deputy Commissioner of Income-Tax, Circle - 14, Pune

In the result, the appeal is partly allowed

ITA 2977/PUN/2017[2013-14]Status: DisposedITAT Pune28 Apr 2021AY 2013-14

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Raviआयकर अपील सं. / Ita No.2977/Pun/2017 िनधा"रण वष" / Assessment Year 2013-14 Kumar Properties & Real Estate Vs. Dcit, Circle-14, Private Limited, Pune Ist Floor, Kumar Capital, East Street, Camp, Pune – 411 001 Pan : Aaack7490H Appellant Respondent Assessee By Shri Rajan Vora & Shri Rajendra Agiwal Revenue By Shri Vitthal Bhosale Date Of Hearing 27.04.2021 Date Of Pronouncement 28-04.2021 आदेश / Order Per R.S. Syal, Vp : This Appeal By The Assessee Is Directed Against The Order Passed By The Cit(A)-7, Pune On 01.09.2017 In Relation To The Assessment Year 2013-14. 2. The Assessee Has Assailed Confirmation Of Addition Of Rs.1,47,65,688/- Towards Deemed Rental Income On Stock-In-Trade Of Unsold Flats/Bungalows Held By The Assessee, As A First Major Issue. Succinctly, The Factual Panorama Of The Case Is That The Assessee Has Been Engaged In The Business Of Development Of Properties With The Projects `Kumar Infinia’ & `Kumar Picasso’

Section 2Section 22Section 23Section 27

…erial on record, it is found as an admitted position that the assessee, in fact, did not earn any exempt income from the investment made in Marigold Properties during the year under consideration. 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 ITR…

DCIT, New Delhi vs. M/S. Dee Development Engineers Ltd., Faridabad

The appeal of the Revenue is dismissed

ITA 4959/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Apr 2021AY 2011-12

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing)

Section 143(2)Section 14A

…e allowed as deduction u/s 37 of the Act. As regards Ground No. 4, the Ld. AR submitted that during the year under construction the assessee company has not earned any exempt income. The Ld AR relied upon the decision in case of Cheminvest Ltd. Vs. CIT (2015) 378 ITR 33 5 wherein it is held that in absence of any exempt income, disallowance u/s 14A was not permissible. As regards Ground No. 5 & 6 relating to additional ground before CIT(A) in respect of Carbon Credit amounting to Rs. 2,68,40,816/- being wrongly recorded as income, the Ld. AR submitted that the assessee could not get the credit certified from the…

ACIT-3(2)(1), Mumbai vs. M/S I.B. Holdings Pvt Ltd., Mumbai

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

ITA 4432/MUM/2019[2012-13]Status: DisposedITAT Mumbai07 Apr 2021AY 2012-13

For Appellant: NoneFor Respondent: Ms. Smita Verma (DR)

Section 10Section 143(2)Section 14A

…stries Ltd (ITA No. 51/2016) (Bombay HC, Nagpur bench). 4.5 Besides, there are many other decisions wherein it was held that disallowance u/s. 14A cannot be made when there is no exempt income. The decisions are listed below: (i) Cheminvest Ltd. v. ITO [2009] 378 ITR 33 (Delhi 11C). (ii) CIT vs Corrtech energy private limited (Tax Appeal No. 239 of 2014) (Gujarat High Court) (iii) CIT Vs Winsome Textile Industries Ltd (319 ITR 204) (P & H) (iv) CIT Vs Holcim India P Ltd (ITA No. 486/2014 & ITA No. 299/2014), Delhi High Court (v) CIT Vs. Shivam Motors P Ltd (ITA No. 88 of 2014), Allahabad High Court. (vi) PCIT Vs…

M/S. Jabs International Pvt. Ltd., Mumbai vs. CIT-5(2)(1), Mumbai

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

ITA 5914/MUM/2019[2015-16]Status: DisposedITAT Mumbai31 Mar 2021AY 2015-16

Bench: Shri Shamim Yahya & Shri Pavan Kumar Gadalem/S. Jabs Vs. Dcit – 5(2)(1) International Pvt Ltd., Room No. 571, 5T H 14-A, Gangotrai Bldg., Floor, Aayakar Banganga Talao, Bhavan, Mk Road, Malbar Hill, Mumbai – Mumbai – 400020. 400006. Pan/Gir No. : Aaacj3768P (Appellant) .. (Respondent)

For Appellant: Shri Anil Thakkar, ARFor Respondent: Smt. Usha Gaikwad, SR DR

Section 10(34)Section 143Section 143(2)Section 143(3)Section 14A

…t the fact remains that the assessee has received dividend income of Rs. 60,700/- and the expenditure cannot be more than the dividend income. Jabs Internat ional Pvt Ltd., Mumbai. Considering the judicial decisions and the decision of the Cheminvest Vs. CIT (378 ITR 33)(Delhi) were it was observed that the disallowance cannot exceed the exempted income. We accordingly modify the order of the CIT(A) sustaining the addition to the extent of Rs. 60,700/-and partly allow the appeal of the assessee. 7. In the result, the appeal filed by the assessee is partly allowed. Order pronounced in the open court on 31.03.202…

ACIT-Circle-2(1), Chandigarh vs. M/S Fastway Transmissions Pvt.Ltd., Chandigarh

In the result, appeals filed by the Revenue and Cross objections filed by

ITA 316/CHANDI/2020[2017-18]Status: DisposedITAT Chandigarh25 Mar 2021AY 2017-18

Bench: Shri N.K. Saini & Shri R.L Negiआयकर अपील सं./Ita Nos. 315 & 316/Chd/2020 िनधा"रण वष" / Assessment Years : 2016-17 & 2017-18 The Acit, M/S Fastway Transmissions Pvt. Ltd., बनाम Circle-2(1), Plot No.17, Industrial Area-1, Chandigarh Chandigarh

For Appellant: Shri Ashwani Kumar, CA &For Respondent: Smt. C.Chandrakanta, CIT

Section 143(3)Section 14A

…the issue is now squarely covered by the various decisions of the High Courts in favour of the assessee viz.‘CIT, Faridabad Vs. Lakhani Marketing Inc.’ 226 Taxman 45 (P&H ), ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H), ‘Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi), ‘Corrtech Energy P. Ltd.’ (2014) 45 Taxman.com 116 (Gujarat High Court) ‘CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277. In all the above referred to case laws, the Hon'ble High Courts have been unanimous to hold that no disallowance is attracted u/s 14A of the Act in case the assessee has not earned any income not forming pa…

ACIT, Circle-2(1), Chandigarh vs. M/S Fastway Transmissions Pvt.Ltd., Chandigarh

In the result, appeals filed by the Revenue and Cross objections filed by

ITA 315/CHANDI/2020[2016-17]Status: DisposedITAT Chandigarh25 Mar 2021AY 2016-17

For Appellant: Shri Ashwani Kumar, CA &For Respondent: Smt. C.Chandrakanta, CIT

Section 143(3)Section 14A

DCIT, New Delhi vs. M/S Malana Power Co. Ltd., New Delhi

In the result, appeal filed by the learned assessing officer in ITA number 3713/del/2017 for assessment year 2012 – 13 is dismissed

ITA 3713/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Mar 2021AY 2012-13

Bench: Shri Amit Shuklaa N D Shri Prashant Maharishi(Through Video Conferencing) Dcit, Vs. Malana Power Co. Ltd, Bhilwara Bhawan, Circle-16(1)M 40-41, Community Centre, New Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent) Malana Power Co. Ltd, Vs. Addl. Dcit, Bhilwara Bhawan, 40-41, Community Centre, New Range-6, Friends Colony, New Delhi New Delhi Pan: Aabcm1108R (Appellant) (Respondent)

For Appellant: Shri P. K. Jain, CAFor Respondent: Shri Sohil Malik, Sr. DR

Section 115JSection 14Section 14ASection 2(14)Section 80I

…per the order of the coordinate bench in assessee’s own case for assessment year 2008 – 09. Such is also the mandate of the honourable Delhi High Court in case of Cheminvest Ltd versus CIT [2015] 61 taxmann.com 118 (Delhi)/[2015] 234 Taxman 761 (Delhi)/[2015] 378 ITR 33 (Delhi)/[2015] 281 CTR 447 (Delhi) wherein it has been held that if there is no exempt income received or receivable during the year there cannot be any disallowance u/s 14 A of the income tax act. Therefore respectfully following the decision of the coordinate bench as well as the decision of the honourable Delhi High Court we do not find any mer…