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 367,514 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

M/S Punjab State Industrial Development Corporatin Ltd., Chandigarh vs. ACIT, C-2(1), Chandigarh

In the result, appeal of the assessee is allowed for statistical purposes

ITA 1293/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh28 Apr 2020AY 2014-15
For Appellant: Shri Atul Goyal, CAFor Respondent: Dr. Gulshan Raj, CIT (DR)
Section 10(34)Section 14ASection 250(6)Section 43BSection 56

…e with view taken in Reliance Utilities (supra) etc. It is however made clear that in no case, the total amount of disallowance u/s 14A should exceed the amount of exempt income as has been held by the Hon'ble Delhi High Court in Cheminvest Ltd. Vs CIT (2015) 378 ITR 33 (Del) and CIT vs. Holcim India P. Ltd (2014) 90 CCH081 Del HC. 10. So respectfully following the aforesaid referred to order dt. 10/11/2016 in assessee’s own case, we set aside this matter to the file of the A.O. and direct him to make the disallowance to the extent of exempt income earned by the assessee. 11. In the result, appeal of the assess…

M/S Fastway Transmission (P) Ltd., Chandigarh vs. ACIT, Chandigarh

In the result the captioned appeals of the assessee are

ITA 547/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh28 Apr 2020AY 2013-14

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

For Appellant: Shri Ashwani Kumar, CAFor Respondent: Shri Chandrajit Singh, CIT (DR) on 4.12.2019
Section 250(6)

…e 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…

Mmtc Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, appeal filed by the Revenue is dismissed

ITA 2207/DEL/2017[2012-13]Status: DisposedITAT Delhi20 Apr 2020AY 2012-13

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Ms. Deepashree Rao, CAFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)Section 14A

…d. Counsel submitted that whence there is no exempt income, then there is no question of disallowance of u/s. 14A. Now, it is a well settled proposition under the jurisdiction of Hon’ble jurisdictional Delhi High Court in view of CIT vs Cheminvest Ltd. (2015) 378 ITR 33 (Del.) and CIT vs Holcim India Pvt, Ltd. in ITA No.486/2014, that when assessee has not earned any exempt income then no disallowance u/s 14A can be triggered. Therefore, the disallowance u/s 14A made by the AO sans any exempt income is deleted. 12. In the result, appeal filed by the Revenue is dismissed. 13. Finally, the appeal of the assessee i…

Addl. CIT, New Delhi vs. M/S. Mmtc Ltd., New Delhi

In the result, appeal filed by the Revenue is dismissed

ITA 3576/DEL/2017[2012-13]Status: DisposedITAT Delhi20 Mar 2020AY 2012-13

Bench: Shri Amit Shukla & Shri O.P. Kant

For Appellant: Ms. Deepashree Rao, CAFor Respondent: Ms. Rakhi Vimal, Sr. DR
Section 143(3)Section 14A

…d. Counsel submitted that whence there is no exempt income, then there is no question of disallowance of u/s. 14A. Now, it is a well settled proposition under the jurisdiction of Hon’ble jurisdictional Delhi High Court in view of CIT vs Cheminvest Ltd. (2015) 378 ITR 33 (Del.) and CIT vs Holcim India Pvt, Ltd. in ITA No.486/2014, that when assessee has not earned any exempt income then no disallowance u/s 14A can be triggered. Therefore, the disallowance u/s 14A made by the AO sans any exempt income is deleted. 12. In the result, appeal filed by the Revenue is dismissed. 13. Finally, the appeal of the assessee i…

DCIT, New Delhi vs. M/S Hind Industries Ltd., New Delhi

Appeal is dismissed

ITA 3535/DEL/2016[2011-12]Status: DisposedITAT Delhi18 Mar 2020AY 2011-12

Bench: Shri N. K. Billaiya & Ms Suchitra Kambledcit Vs Hind Industries Ltd. Circle 11(1) A-1, Phase-1, Okhla New Delhi Industrial Area New Delhi (Appellant) Aaach0870N (Respondent)

Section 133(6)Section 14ASection 40A(3)Section 69C

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘G’ NEW DELHI BEFORE SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER DCIT Vs Hind Industries Ltd. Circle 11(1) A-1, Phase-1, Okhla New Delhi Industrial Area New Delhi (APPELLANT) AAACH0870N (RESPONDENT) Appellant by Sh. H. K. Chaudhary, CIT DR Respondent by Sh. M. P. Rastogi, Adv Date of Hearing 19.02.2020 Date of Pronouncement 18 .03.2020 ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the Revenue against the order dated 04/03/2016 passed by CIT(A)-16, New Delhi for Assessment Year 2011-12. 2. The grounds of appeal…

ACIT, Circle-4(1)(2), Ahmedabad vs. M/S. Zaveri & Company Pvt. Ltd, Ahmedabad

In the result, both the appeals of the Revenue are dismissed

ITA 1194/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad12 Mar 2020AY 2013-14

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

For Appellant: Shri Surendra kumar, CIT-DR and
Section 10ASection 143(2)Section 143(3)Section 2Section 263

….AO has not carried out any such exercise. He simply proceed to compute the disallowance with help of Rule 8D. He made reference to the decision of Special Bench in the case of Cheminvest Ltd.(supra) which has been reversed by the Delhi High Court reported in 378 ITR 33 (Del). In other words, the conclusion of Special Bench did not meet approval of Hon’ble Delhi High Court. Now, the question is that for earning of roughly Rs.62 lakhs of tax free income in the Asstt.Year 2012-13 and Rs.2.07 crores in the Asstt.Year 2013- 14, how much administrative expenditure should be construed as sufficient. An ideal situation…

ACIT, Circle-4(1)(2), Ahmedabad vs. M/S. Zaveri & Company Pvt. Ltd, Ahmedabad

In the result, both the appeals of the Revenue are dismissed

ITA 1193/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad12 Mar 2020AY 2012-13

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

For Appellant: Shri Surendra kumar, CIT-DR and
Section 10ASection 143(2)Section 143(3)Section 2Section 263

….AO has not carried out any such exercise. He simply proceed to compute the disallowance with help of Rule 8D. He made reference to the decision of Special Bench in the case of Cheminvest Ltd.(supra) which has been reversed by the Delhi High Court reported in 378 ITR 33 (Del). In other words, the conclusion of Special Bench did not meet approval of Hon’ble Delhi High Court. Now, the question is that for earning of roughly Rs.62 lakhs of tax free income in the Asstt.Year 2012-13 and Rs.2.07 crores in the Asstt.Year 2013- 14, how much administrative expenditure should be construed as sufficient. An ideal situation…

M/S. Zaveri & Co. Pvt. Ltd., Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-4(1)(2), Ahmedabad

In the result, both the appeals of the Revenue are dismissed

ITA 1081/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad12 Mar 2020AY 2013-14

Bench: Shri Rajpal Yadav, Vice- & Shri Waseem Ahmed

For Appellant: Shri Surendra kumar, CIT-DR and
Section 10ASection 143(2)Section 143(3)Section 2Section 263

….AO has not carried out any such exercise. He simply proceed to compute the disallowance with help of Rule 8D. He made reference to the decision of Special Bench in the case of Cheminvest Ltd.(supra) which has been reversed by the Delhi High Court reported in 378 ITR 33 (Del). In other words, the conclusion of Special Bench did not meet approval of Hon’ble Delhi High Court. Now, the question is that for earning of roughly Rs.62 lakhs of tax free income in the Asstt.Year 2012-13 and Rs.2.07 crores in the Asstt.Year 2013- 14, how much administrative expenditure should be construed as sufficient. An ideal situation…

State Bank of India, Mumbai vs. Addl CIT RG 2(2), Mumbai

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the revenue is dismissed

ITA 6482/MUM/2010[2000-01]Status: DisposedITAT Mumbai06 Mar 2020AY 2000-01

Bench: Shri Rajesh Kumar, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.6482 /Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) State Bank Of India बिधम/ Acit Range-2(2) Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. Ita. No. 6822/Mum/2010 (निर्धारण वर्ा / Assessment Year: 2000-01) Acit Range-2(2) बिधम/ State Bank Of India Mumbai. Financial Reporting, Vs. Compliance & Taxation Dept. Mumbai-400021. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacs8577K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Girish Dave/Urvi Mehta Revenue By: Shri Awungshi Gimson (Dr) सुनवाई की तारीख / Date Of Hearing: 12/12/2019 घोषणा की तारीख /Date Of Pronouncement: 06/03/2020 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue As Well As Assessee Have Filed The Above Mentioned Appeals Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-5, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000-01. Ita. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 2. The Assessee Has Filed The Present Appeal Against The Order Dated 21.07.2010 Passed By The Commissioner Of Income Tax (Appeals)-05, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2000- 01. 3. The Assessee Has Raised The Following Grounds: -

For Appellant: Shri Girish Dave/Urvi MehtaFor Respondent: Shri Awungshi Gimson (DR)
Section 14ASection 43D

…ay be calculated on the basis of certain percentage of exempted income as has been ITA. No.6482/M/2010 6822/M/2010 A.Y. 2000-01 held in a number of decision by various Tribunal and Hon‟ble High Courts. Reliance was made in case of Cheminvest Limited vs. CIT (378 ITR 33), ACB India Ltd. vs. ACIT (374 ITR 108). The ld. AR further conceded that similar ground was restored to the file of AO in assessee‟s own case for AY 1996-97 & 1998-99. It was submitted that the AO despite direction of Tribunal passed a non- speaking order and no relief was granted. It was finally prayed that the Tribunal may issue appropriate dir…

M/S Global Tech Park Private Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result ITA No.2287/BANG/2018 is partly allowed

ITA 2287/BANG/2018[2014-15]Status: DisposedITAT Bangalore06 Mar 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Pradip Kumar Kedia

For Appellant: Shri Hariprasad Nayak, CAFor Respondent: Smt R. Premi, JCIT(DR)(ITAT), Bangalore
Section 14A

…ly the assessee has not earned any exempted income. Now it is settled position of law that whenever assessee did not earn any exempt income, no disallowance could be made u/s. 14A of the Act. The Hon’ble Delhi High Court in the case of Cheminvest Ltd. v. CIT, 378 ITR 33 (Del) has categorically held that section 14A envisages that there should be actual receipt of income which was not includible in the total income during the relevant previous year for the purpose of disallowing any expenditure in relation to the said income. Wherever there is no exempt income includible in the total income of the assessee, the pr…

M/S Global Tech Park Private Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-3(1)(2), Bangalore

In the result ITA No.2287/BANG/2018 is partly allowed

ITA 2286/BANG/2018[2015-16]Status: DisposedITAT Bangalore06 Mar 2020AY 2015-16

Bench: Shri N.V. Vasudevan & Shri Pradip Kumar Kedia

For Appellant: Shri Hariprasad Nayak, CAFor Respondent: Smt R. Premi, JCIT(DR)(ITAT), Bangalore
Section 14A

…ly the assessee has not earned any exempted income. Now it is settled position of law that whenever assessee did not earn any exempt income, no disallowance could be made u/s. 14A of the Act. The Hon’ble Delhi High Court in the case of Cheminvest Ltd. v. CIT, 378 ITR 33 (Del) has categorically held that section 14A envisages that there should be actual receipt of income which was not includible in the total income during the relevant previous year for the purpose of disallowing any expenditure in relation to the said income. Wherever there is no exempt income includible in the total income of the assessee, the pr…

JCIT, Special Range- 1, New Delhi vs. Axiscades Engineering Technologies Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 4799/DEL/2017[2014-15]Status: DisposedITAT Delhi06 Mar 2020AY 2014-15

Bench: Shri H.S. Sidhu & Shri N.K. Billaiya

For Appellant: NoneFor Respondent: Sh. Sanjeev Goel, CIT(DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER I.T.A. No. 4799/DEL/2017 AY: 2014-15 JCIT, SEPCIAL RANGE-1, VS. M/S AXISCADES NEW DELHI ENGINEERING ROOM NO. 159A, 1ST FLOOR, TECHNOLOGIES LTD., A-264, 2ND FLOOR, C.R. BUILDING, NEW DELHI – 110 002 DEFENCE COLONY, NEW DELHI – 24 (PAN : AAACI2831G) (APPELLANT) (RESPONDENT) Department by : Sh. Sanjeev Goel, CIT(DR) Assessee by : None ORDER PER H.S. SIDHU, JM Revenue has filed the present appeal against the impugned order dated 15.5.2017 passed by the Ld. CIT(A)-32,…

DCIT, New Delhi vs. M/S. Innus Infrastructure Pvt. Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 1516/DEL/2017[2012-13]Status: DisposedITAT Delhi06 Mar 2020AY 2012-13

Bench: Smt. Diva Singhdr. B. R. R. Kumarita No. 1516/Del/2017 : Asstt. Year : 2012-13 Dcit, Vs M/S Innus Infrastructure Pvt. Ltd., Circle-11(1), M-62 & 63, First Floor, Connaught New Delhi Palace, New Delhi (Appellantt (Respondent) Pan No. Aacci1776N Assessee By : Ms. Neha Gupta, Ca Revenue By : Sh. S. N. Meena, Sr. Dr Date Of Hearing: 03.03.2020 Date Of Pronouncement: 06.03.2020

For Appellant: Ms. Neha Gupta, CAFor Respondent: Sh. S. N. Meena, Sr. DR
Section 14A

…nder consideration. The Assessing Officer has disallowed an amount of Rs.3.40 crores u/s 14A of the Income Tax Act, 1961. The ld. CIT (A) has deleted the addition based on the judgment of Hon’ble Jurisdictional High Court in the case of Cheminvest Ltd. Vs CIT 378 ITR 33. 5. Aggrieved the revenue filed appeal before us. 6. The issue of disallowance of expenses u/s 14A relating to income not includable in the total income of the assessee has been dealt in various cases by the Tribunal and the High Courts wherein it was held that the disallowance cannot exceed the dividend income earned. For the sake of ready refer…

ACIT, New Delhi vs. M/S. Quippo Oil & Gas Infrastructure Ltd., New Delhi

In the result, cross objection of the assessee is allowed

ITA 1445/DEL/2015[2009-10]Status: DisposedITAT Delhi06 Mar 2020AY 2009-10

Bench: Shri Amit Shukla & Shri Prashant Maharishiacit, Vs. Quippo Oil & Gas Circle-20(2), Infrastructure Ltd, New Delhi D-2, 5Th Floor, Southern Park, Saket Palace, Saket, New Delhi (Appellant) (Respondent)

For Appellant: Smt Alka Arren, AdvFor Respondent: Smt Sulekha Verma, CIT DR
Section 143(3)Section 14A

…curred any expenditure to earn the exempt income. It is also true that the assessee has not received any exempt income during the year. Thus in absence of exempt income, relying on the decision of the Hon'ble Delhi High Court in case of Cheminvest Ltd Vs. CIT 378 ITR 33 wherein, it has been held that there should be actual receipt of exempt income and section 14A will not apply if no exempt income is received during the relevant previous year. In view of this, we confirm the order of the ld CIT (A) and direct the ld AO to delete the disallowance u/s 14A of the Act. Ground No. 2 of the appeal is dismissed. 14. Gro…

ACIT - 9(1)(1), Mumbai vs. Amartara Pvt. Ltd., Mumbai

In the result, these appeals by the Revenue stands dismissed

ITA 6181/MUM/2018[2014-15]Status: DisposedITAT Mumbai02 Mar 2020AY 2014-15

Bench: Shri Shamim Yahya, Am & Shri C. N. Prasad, Jm

For Appellant: Shri Michael JeraldFor Respondent: None
Section 45(3)Section 48Section 50C

…exempt income earned. For this proposition, the assessee has relied on the decision of the Hon'ble Bombay High Court in the case of CIT vs. Delite Enterprises (in ITA No. 110 of 2009), the Hon’ble Delhi High Court decision in the case of Cheminvest Ltd. in 281 CTR 447 (Del). and the Special Bench decision of the Tribunal in the case of ACIT vs. Vireet Investments (P) Ltd. (82 taxmann.com 4155). Following the above case laws, the ld. CIT(A) upheld that the disallowance only to the extent of exempt income earned. Asst. CIT vs. M/s. Amartara Pvt. Ltd. 18. Against this order, the Revenue has filed the appeal bef…

DCIT, New Delhi vs. M/S. Ozone Pharmaceuticals Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 556/DEL/2016[2011-12]Status: DisposedITAT Delhi28 Feb 2020AY 2011-12

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 556/Del/2016 : Asstt. Year : 2011-12 Dcit, Vs M/S Ozone Pharmaceuticals Ltd., Circle-19(1), Block A-3, 1, Lsc, Janakpuri, New Delhi New Delhi-110058 (Appellant) (Respondent) Pan No. Aaacp0056H Assessee By : Dr. Rakesh Gupta, Adv. Revenue By : Sh. Arun Kumar Yadav, Sr. Dr Date Of Hearing: 16.01.2020 Date Of Pronouncement: 28.02.2020

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Sh. Arun Kumar Yadav, Sr. DR
Section 14ASection 80I

…e of Rs.6,16,593/- has been made by the Assessing Officer. The records reveal that the assessee has earned exempt income of Rs.21,290/- only. Hence, keeping in view the judgment of Hon’ble Jurisdictional High Court in the case of Cheminvest Ltd. v. CIT (2015) 378 ITR 33 (Delhi), we hereby restrict the disallowance to the amount of exempt income earned. Appeal of the revenue on this ground is dismissed. 14. In the result, the appeal of the revenue is dismissed. Order Pronounced in the Open Court on 28/02/2020. (Amit Shukla) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 28/02/2020 *Subodh*…

Shri Shravankumar Gisulal Jain, Vadodara vs. The Income Tax Officer, Ward-1(2)(5), Vadodara

In the result, appeal of the assessee is allowed

ITA 1658/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad27 Feb 2020AY 2012-13

Bench: Shri Sandeep Gosain & Shri Amarjit Singhआयकर अपील सं./I.T.A. No. 1658/Ahd/2018 ("नधा"रण वष" / Assessment Year : 2012-13)

For Appellant: Shri Ankit Chokshi, ARFor Respondent: Shri G.c. Daxini, Sr.DR
Section 10Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘बी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER And SHRI AMARJIT SINGH, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 1658/Ahd/2018 ("नधा"रण वष" / Assessment Year : 2012-13) Shravankumar Gisulal Jain The Income Tax officer बनाम/ 76, Royal Acre Ward-1(2)(5) Vs. B/h. Billabong International Vadodara School Vadsar Road, Vadodara "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ABMPJ 2945 C .. (""यथ" / Respondent) (अपीलाथ" /Appellant) अपीलाथ" ओर से / Appellant by : Shri Ankit Chokshi, AR ""यथ" क" ओर से/Respondent by :…

DCIT (Ltu), New Delhi vs. M/S. Hero Motors Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 249/DEL/2017[2012-13]Status: DisposedITAT Delhi26 Feb 2020AY 2012-13

Bench: Sh. H. S. Sidhudr. B. R. R. Kumar

For Appellant: Sh. Satish Bansal, CAFor Respondent: Sh. S. N. Meena, Sr. DR
Section 14A

…Courts has also ruled that, at the most the disallowance should be restricted to the tune of the dividend earned. For the sake of ready reference, the relevant portion of the order of the Hon’ble Jurisdictional High Court in the case of Cheminvest Ltd. Vs CIT 378 ITR 33 (Del.) is reproduced below: 3 Hero Motors Ltd. “Turning to the central question that arises for consideration, the Court finds that the complete answer is provided by the decision of this Court in CIT v. Holcim India (P.) Ltd. [2015] 57 taxmann.com 28. In that case a similar question arose, viz., whether the ITAT was justified in deleting the dis…

ITO, New Delhi vs. M/S Hero Management Services Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 125/DEL/2017[2011-12]Status: DisposedITAT Delhi26 Feb 2020AY 2011-12

Bench: Sh. H. S. Sidhudr. B. R. R. Kumarita No. 125/Del/2017 : Asstt. Year : 2011-12 Income Tax Officer, Vs M/S Hero Management Services Ltd. Ward-11 (2) E-1, Qutab Hotel Complex, Shaheed New Delhi Jeet Singh Marg, New Delhi (Appellantt (Respondent) Pan No. Aabch4681C Assessee By : Sh. Satish Bansal, Ca Revenue By : Sh. S. N. Meena, Sr. Dr Date Of Hearing:25.02.2020 Date Of Pronouncement: 26.02.2020

For Appellant: Sh. Satish Bansal, CAFor Respondent: Sh. S. N. Meena, Sr. DR
Section 14A

…anagement Services Ltd. Assessing Officer has disallowed an amount of Rs.2.87 crores u/s 14A of the Income Tax Act, 1961. The ld. CIT (A) has deleted the addition based on the judgment of Hon’ble Jurisdictional High Court in the case of Cheminvest Ltd. Vs CIT 378 ITR 33. 5. Aggrieved the revenue filed appeal before us. 6. The issue of disallowance of expenses u/s 14A relating to income not includable in the total income of the assessee has been dealt in various cases by the Tribunal and the High Courts wherein it was held that no disallowance is warranted in cases where no exempt income has been earned by the as…

ITO, New Delhi vs. M/S. Athena Energy Ventures P.Ltd., New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 5656/DEL/2016[2012-13]Status: DisposedITAT Delhi25 Feb 2020AY 2012-13

Bench: Shri H.S. Sidhu & Shri N.K. Billaiya[A.Y 2012-13]

For Appellant: NoneFor Respondent: Shri S.N. Pandey, Sr. DR
Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘A’ BENCH, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER, AND SHRI N.K. BILLAIYA ACCOUNTANT MEMBER [A.Y 2012-13] The I.T.O Vs. M/s Athena Energy Ventures [P] Ltd J – 38, 2nd Floor, B.K. Dutt, Colony Ward 3(4) New Delhi Jor Bagh Lane, New Delhi PAN : AAGCA 2179 K [Appellant] [Respondent] Date of Hearing : 24.02.2020 Date of Pronouncement : 25.02.2020 Assessee by : None Revenue by : Shri S.N. Pandey, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the revenue is preferred against the order of the CIT(A) - 1, New Delhi dated 01.08.20…