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 367,154 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. Emerald Properties Pvt. Ltd., Kolkata vs. ITO, Ward-5(3), Kolkata.

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

ITA 1043/KOL/2023[2012-13]Status: DisposedITAT Kolkata06 Mar 2025AY 2012-13

Bench: Shri Duvvuru Rl Reddy(Kz) & Shri Rakesh Mishra

Section 131Section 143(3)Section 250Section 68

…आयकर अपीलीय अधिकरण कोलकाता 'डी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘D’ BENCH, KOLKATA श्री दुव्वुरु आरएल रेड्डी, उपाध्यक्ष (कोलकाता क्षेत्र) एवं श्री राकेश धमश्रा, लेखा सदस्य के समक्ष Before SHRI DUVVURU RL REDDY, VICE PRESIDENT (KZ) & SHRI RAKESH MISHRA, ACCOUNTANT MEMBER I.T.A. No.: 1043/KOL/2023 Assessment Year: 2012-13 M/s. Emerald Properties Pvt. ITO, Ward-5(3), Kolkata Ltd. (Successor to Business Vs. Function Consultancy Pvt. Ltd.) (Appellant) (Respondent) PAN: AAACE5407E Appearances: Assessee represented by : Miraj D Shah, AR. Department represented by : Subhendu Datta, CIT-DR. D…

DCIT-14(1)(1), Mumbai vs. Khorakiwala Holdings and Investments Pvt Ltd, Mumbai

In the result the appeals filed by assessee as well as revenue stands dismissed

ITA 4943/MUM/2024[2017-18]Status: DisposedITAT Mumbai25 Feb 2025AY 2017-18

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

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

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) AND SHRI OMKARESHWAR CHIDARA (ACCOUNTANT MEMBER) I.T.A. No. 4943/Mum/2024 Assessment Year: 2017-18 & CO No. 245/Mum/2024 Assessment Year: 2017-18 DCIT-14(1)(1), Mumbai Vs. M/s. Khorakiwala Room No. 432, 4th Floor, Holdings and Aayakar Bhavan, M.K. Investments Pvt. Road, Ltd. Mumbai-400020 Wockhardt Towers, Bandra Kurla Complex, Bandra (E), Mumbai-400051 PAN: AAACK1955D (Appellant) (Respondent) Appellant by Shri. Pranay Gandhi a/w Shri Anish Thacker Respondent by Shri. Ashish Kumar, SR. A.R. Date of Hearing 04.0…

Assistant Commissioner of Income Tax, Madurai vs. Ramco Industries Limited, Madurai

Appeals of the revenue stand dismissed

ITA 2884/CHNY/2024[2020]Status: DisposedITAT Chennai24 Feb 2025

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita Nos.2883 & 2884/Chny/2024. (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021) The Assistant Commissioner Of Vs. Ramco Industries Limited, Income Tax, 47, Psk Nagar, Corporate Circle, Rajapalayam 626 108. Madurai [Pan Aaacr 5284J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. S. Muralidhar & Shri J. Prabhakar, F.C.As. ""यथ" क" ओर से /Respondent By : Shri. R. Bhoopathi, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 06.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 24.02.2025 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. S. Muralidhar and Shri JFor Respondent: Shri. R. Bhoopathi, Addl. CIT
Section 115JSection 143(3)Section 14A

…Trust Association [1992] 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in IL & FS Energy Development Co. Ltd. (supra) and Cheminvest Ltd. v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi). 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 IL & FS Energy Development Co. Ltd. (supra). 10. The judgment of the Hon’ble Calcutta High Court Judgment in the case of PCI…

Assistant Commissioner of Income Tax, Madurai vs. Ramco Industries Limited, Rajapalayam

Appeals of the revenue stand dismissed

ITA 2883/CHNY/2024[2018]Status: DisposedITAT Chennai24 Feb 2025

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita Nos.2883 & 2884/Chny/2024. (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021) The Assistant Commissioner Of Vs. Ramco Industries Limited, Income Tax, 47, Psk Nagar, Corporate Circle, Rajapalayam 626 108. Madurai [Pan Aaacr 5284J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. S. Muralidhar & Shri J. Prabhakar, F.C.As. ""यथ" क" ओर से /Respondent By : Shri. R. Bhoopathi, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 06.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 24.02.2025 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. S. Muralidhar and Shri JFor Respondent: Shri. R. Bhoopathi, Addl. CIT
Section 115JSection 143(3)Section 14A

…Trust Association [1992] 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in IL & FS Energy Development Co. Ltd. (supra) and Cheminvest Ltd. v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi). 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 IL & FS Energy Development Co. Ltd. (supra). 10. The judgment of the Hon’ble Calcutta High Court Judgment in the case of PCI…

Muthu Thevar Nagarajan, Dindigul vs. ITO, Ward-1., Dindigul

Appeals of the revenue stand dismissed

ITA 2083/CHNY/2024[2018-19]Status: DisposedITAT Chennai24 Feb 2025AY 2018-19

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita Nos.2883 & 2884/Chny/2024. (िनधा"रणवष" / Assessment Years: 2018-2019 & 2020-2021) The Assistant Commissioner Of Vs. Ramco Industries Limited, Income Tax, 47, Psk Nagar, Corporate Circle, Rajapalayam 626 108. Madurai [Pan Aaacr 5284J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri. S. Muralidhar & Shri J. Prabhakar, F.C.As. ""यथ" क" ओर से /Respondent By : Shri. R. Bhoopathi, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 06.02.2025 घोषणा क" तार"ख /Date Of Pronouncement : 24.02.2025 आदेश / O R D E R Per Manu Kumar Giri ()

For Appellant: Shri. S. Muralidhar and Shri JFor Respondent: Shri. R. Bhoopathi, Addl. CIT
Section 115JSection 143(3)Section 14A

…Trust Association [1992] 3 SCC 1, the present appeal is dismissed being covered by the judgment passed by the learned predecessor Division Bench in IL & FS Energy Development Co. Ltd. (supra) and Cheminvest Ltd. v. CIT [2015] 61 taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi). 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 IL & FS Energy Development Co. Ltd. (supra). 10. The judgment of the Hon’ble Calcutta High Court Judgment in the case of PCI…

DCIT 5(1)(1), Mumbai vs. Air India Ltd, Mumbai

In the result, the appeals filed by the assessee

ITA 4484/MUM/2018[2012-13]Status: DisposedITAT Mumbai21 Feb 2025AY 2012-13

Bench: Shri Baskaran Br, Accountat Member & Shri Pavan Kumar Gadale

For Appellant: Shri Madhur Agrawal.ARFor Respondent: Smt Sailaja Rai, CIT DR
Section 143(2)Section 14ASection 250Section 44A

…he Hon'ble Bombay High Court in the case of Pr.CIT Vs. Ballarpur Industries Limited in Income Tax Appeal No.51 of 2016, wherein this issue has been considered following the judgment of Hon'ble Delhi High Court in the case of Chem invest Limited vs. CIT (2015) 378 ITR 33 (Delhi) held as under: - “On hearing the learned Counsel for the Department and on a perusal of the impugned orders, it appears that both the Authorities have recorded a clear finding of fact that there was no exempt income earned by the assessee. While holding so, the Authorities relied on the judgment of the Delhi High Court in Income Tax Appeal…

Income Tax Officer, Ward-1(2), Hyderabad vs. Athena Global Technologies Limited (Formerly M/S Vjil Consulting Limited), Hyderabad

In the result, the ground nos

ITA 895/HYD/2018[2012-13]Status: DisposedITAT Hyderabad11 Feb 2025AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 40Section 43BSection 68

…आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.895 & 896/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) Income Tax Officer, Ward-1(2), Hyderabad. ..Appellant. Vs. M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. PAN: AAACV8176F ….Respondent. आ.अपी.सं /ITA No.1266/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. … Appell…

Athena Global Technologies Limited, Hyderabad vs. Income Tax Officer, Ward-17(4), Hyderabad

In the result, the ground nos

ITA 1266/HYD/2018[2012-13]Status: DisposedITAT Hyderabad11 Feb 2025AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 40Section 43BSection 68

…आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.895 & 896/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) Income Tax Officer, Ward-1(2), Hyderabad. ..Appellant. Vs. M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. PAN: AAACV8176F ….Respondent. आ.अपी.सं /ITA No.1266/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. … Appell…

Subramaniam Swaminathan Iyer, Bhilai, Durg vs. Deputy Commissioner of Income Tax-1(1), Bhilai, Durg

In the result, appeal of the assessee is partly allowed/partly allowed for statistical purposes in terms of our aforesaid observations

ITA 71/RPR/2023[2012-13]Status: DisposedITAT Raipur10 Feb 2025AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.71/Rpr/2023 "नधा"रण वष" / Assessment Year : 2012-13 Subramaniam Swaminathan Iyer 12-A/7, Nehru Nagar, Bhilai (C.G.)-490 020 Pan: Anwps2381P

For Appellant: S/shri Milind Bhusari, AdvocateFor Respondent: Shri S.L Anuragi, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 2(22)(e)Section 68

…rt of his aforesaid contention had relied on the judgment of the Hon’ble Supreme Court in the case of CIT Vs. Chettinad Logistics Pvt. Ltd. (2018) 257 Taxmann 2 (SC) and that of the Hon’ble High Court of Delhi in the case of Cheminvest Limited Vs. CIT, (2015) 378 ITR 33 (Delhi). The Ld. AR to buttress his claim submitted that the assessee had vide his “written submission” [filed before the CIT(Appeals)], submitted that as the assessee had not earned any exempt income during the year under consideration, therefore, the provisions of Section 14A of the Act could not have been invoked, Page 15 of CIT(Appeals)’s orde…

DCIT CC 4 2 Mumbai, Mumbai vs. Birla Group Holdings Pvt Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5872/MUM/2024[2014-15]Status: DisposedITAT Mumbai29 Jan 2025AY 2014-15

Bench: Shri Sandeep Gosain & Shri Girish Agrawalassessment Year: 2014-15 Deputy Commissioner Of Income Birla Group Holdings Pvt. Tax, Central Circle – 4(2), Ltd., Mumbai 1St Floor, Industry House, Vs. 159,Churchgate Reclamation, Churchgate, Mumbai – 400020 (Pan : Aabcb6755B) (Appellant) (Respondent) Present For: Assessee : Ms. Jinal Jain, Ca Revenue : Ms. Monika H. Pande, Sr.Dr

For Appellant: Ms. Jinal Jain, CAFor Respondent: Ms. Monika H. Pande, Sr.DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2014-15 Deputy Commissioner of Income Birla Group Holdings Pvt. Tax, Central Circle – 4(2), Ltd., Mumbai 1st Floor, Industry House, Vs. 159,Churchgate Reclamation, Churchgate, Mumbai – 400020 (PAN : AABCB6755B) (Appellant) (Respondent) Present for: Assessee : Ms. Jinal Jain, CA Revenue : Ms. Monika H. Pande, Sr.DR Date of Hearing : 01.01.2025 Date of Pronouncement : 29.01.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the Reven…

M/S Jsw Infrastruture Limited, Mumbai vs. DCIT Circle-5(2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 6015/MUM/2024[2018-19]Status: DisposedITAT Mumbai23 Jan 2025AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2018-19 M/S Jsw Infrastructure Ltd., Dy. Cit, Circle 5(2)(1), Jsw Centre Bandra Kurla Complex, Aayakar Bhavan, Maharishi Karve Bandra (East), Vs. Road, New Marine Lines, Churchgate, Mumbai-400051. Mumbai-400020. Pan No. Aabcj 6721 D Appellant Respondent

For Appellant: Ms. Vinita NaraFor Respondent: 02/01/2025
Section 14ASection 14A(2)

…in the absence of exempt income earned by the assessee. Similarly, the Hon’ble exempt income earned by the assessee. Similarly, the Hon’ble exempt income earned by the assessee. Similarly, the Hon’ble Delhi High Court, in Delhi High Court, in Cheminvest Ltd. 378 ITR 33, also ruled that 378 ITR 33, also ruled that Section 14A is inapplicable when no exempt income is earned Section 14A is inapplicable when no exempt income is earned Section 14A is inapplicable when no exempt income is earned during the relevant asses during the relevant assessment year. Further, the Hon’ble sment year. Further, the Hon’ble Madras…

Lycos Internet Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Circle-16(1), Hyderabad

ITA 1769/HYD/2018[2012-13]Status: DisposedITAT Hyderabad22 Jan 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Vice- & Shri Madhusudan Sawdia

For Appellant: Shri P Murali Mohan Rao, СА
Section 14ASection 249(4)(a)Section 263Section 36(1)(va)

…of the total income alone can be disallowed. In the case before us, when the assessee has not earned any exempt income, there can be no disallowance under section 14A of the Act. 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. In view of the same, assessee's appeal on this ground is allowed." Since there is no dividend income i.e. exempted during this year, the addition made by the Assessing Officer towards disallowance u/s 14A of the IT…

Asst. Commissioner of Income Tax, Circle-16(1), Hyderabad vs. Lycos Internet Limited, Hyderabad

In the result, appeal filed by the assessee is allowed

ITA 1550/HYD/2017[2012-13]Status: DisposedITAT Hyderabad22 Jan 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.1550/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Asstt. Commissioner Of Vs. Lycos Internet Ltd Income Tax, Circle 16 (1) Hyderabad Hyderabad Pan:Aaacl5827B (Appellant) (Respondent) आ.अपी.सं /Ita No.1769/Hyd/2018 (िनधा"रण वष"/Assessment Year: 2012-13) Lycos Internet Ltd Vs. Asstt. Commissioner Of Hyderabad Income Tax, Circle 16 (1) Pan:Aaacl5827B Hyderabad (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri B Bala Krishna, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 16/12/2024 घोषणा की तारीख/Pronouncement: 22/01/2025 आदेश/Order Per Vijay Pal Raothese Are Two Appeals, One By The Department Against The Order Dated 23/06/2017 Of The Learned Cit (A) & Another By The Assessee Against The Revision Order Dated 26/02/2018 Passed

For Appellant: Shri P Murali Mohan Rao, CAFor Respondent: : Shri B Bala Krishna, CIT(DR)
Section 14ASection 263

…ation, the provisions of section 14A are not applicable. Hence, in view of the various judgments on this point Page 7 of 32 ITA Nos 1550 and 1769 LYCOS Internet Ltd including the decision of the Hon'ble Delhi High Court in the case of Cheminvest Ltd (2015) 378 ITR 33 (Del.) as well as the judgment of the Hon'ble Punjab & Haryana High Court in the case of CIT vs. Hero Cycles Ltd (2010) 323 ITR 518 (P&H), no disallowance u/s 14A is called for when the assessee has not earned any dividend income during the year under consideration. Accordingly, in view of the facts as discussed above, we do not find any error or…

Sapphire Foods India Limited, Mumbai vs. DCIT, Circle 3(3)(1), Mumbai

In the result the appeal filed by the assessee stands dismissed

ITA 3579/MUM/2024[AY 2022-23]Status: DisposedITAT Mumbai13 Jan 2025

Bench: Smt. Beena Pillai, Jm

Section 143(2)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JM I.T.A. No.3579/Mum/2024 Assessment Year: 2022-23 Sapphire Foods India Vs DCIT, Circle-3(3)(1), Limited . Mumbai. 7th Floor, A Wing, Prism Tower, Link Road, Mind Space, Goregaon, West Maharashtra. PAN:[AANCS5595A] (Respondent) (Appellant) Appellant by Ms. Aarti Sathe, & Ms. Assavari Kadam, AR Respondent by Ms. Pradhanya Golap, Sr. D.R. Date of Hearing 03.12.2024 Date of 13.01.2025 Pronouncement ORDER Per: Smt. Beena Pillai, J.M.: Present appeal is filed by the assessee is against order dated 29/06/2024 passed by NFAC, De…

Dinesh Bhoja Shetty, Mumbai vs. DCIT, Circle 41(2)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 3506/MUM/2024[2012-13]Status: DisposedITAT Mumbai08 Jan 2025AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2018-19 Dice Districts (India) Pvt. Ltd., Ito Ward 6(2)(1), 307-308, Midas, Sahar Plaza, Aayakar Bhavan, Vs. Andheri East, Mumbai-400020. Mumbai-400069. Pan No. Aaecd 2751 N Appellant Respondent

For Appellant: Mr. Pravin Salunkhe, Sr. DRFor Respondent: Mr. Dharan Gandhi
Section 14ASection 234B

…Court in Industries Ltd. (ITA No. 51 of 2016) and the judgment of the Hon (ITA No. 51 of 2016) and the judgment of the Hon (ITA No. 51 of 2016) and the judgment of the Hon’ble Delhi High Court in Chem Investment Ltd. v. CIT Chem Investment Ltd. v. CIT [(2015) 378 ITR 33 [(2015) 378 ITR 33 (Del)]. Per contra, the ld DR referred to Explanation below the (Del)]. Per contra, the ld DR referred to Explanation below the (Del)]. Per contra, the ld DR referred to Explanation below the section 14A of the Act to support that section 14A is application section 14A of the Act to support that section 14A is applica section 14…

Xilinx India Technology Services Private Limited, Hyderabad vs. ACIT., Circle-8(1), Hyderabad

In the result, the ground nos

ITA 895/HYD/2024[AY 2020-21]Status: DisposedITAT Hyderabad02 Jan 2025

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 40Section 43BSection 68

…आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.895 & 896/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) Income Tax Officer, Ward-1(2), Hyderabad. ..Appellant. Vs. M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. PAN: AAACV8176F ….Respondent. आ.अपी.सं /ITA No.1266/Hyd/2018 (निर्धारण वर्ा/Assessment Year:2012-13) M/s. Athena Global Technologies Limited, (Formerly M/s. VJIL Consulting Ltd.), Hyderabad. … Appell…

Nadia District Central Co-Operative Bank Ltd., Nadia vs. I.T.O., Ward - 41(1), Nadia

In the result, the appeal of the assessee stands allowed

ITA 2092/KOL/2024[2020-2021]Status: DisposedITAT Kolkata30 Dec 2024AY 2020-2021

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Section 14ASection 250

…mpt income. 3. At the outset, the Ld. Counsel for the assessee has submitted that the assessee during the year did not earn any tax exempt income. The issue is squarely covered by the decision of Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT 378 ITR 33 (Del.) wherein it has been held that there being no exempt income earned by the assessee, no disallowance u/s. 14A to be made. The aforesaid proposition has been further confirmed by various Hon’ble High Courts and Tribunal viz., CIT vs. M/s. Holcim India Pvt. Ltd. in ITA no. 486/2014 and ITA no. 299/2014; Judgment dt. 5-9-2014, CIT v. Shivam Moto…

T P Roy Chowdhury & Company Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 7(1), Kolkata

In the result, the appeal of the assessee stands partly allowed

ITA 1268/KOL/2024[2015-2016]Status: DisposedITAT Kolkata19 Dec 2024AY 2015-2016

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

Section 14ASection 201Section 250

…as warranted. 6. Ld. DR on the other hand, had relied on the findings of the lower authorities. 7. We have considered the rival submissions and gone through the material available on records. The Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT 378 ITR 33 (Del.) has held that there being no exempt income earned by the assessee, no disallowance u/s. 14A to be made. The aforesaid proposition has been further confirmed by various Hon’ble High Courts and Tribunal viz., CIT vs. M/s. Holcim India Pvt. Ltd. in ITA no. 486/2014 and ITA no. 299/2014; Judgment dt. 5-9-2014, CIT v. Shivam Motors (P.) Ltd. [20…

ACIT 1(1), Mumbai vs. Bennett Coleman & Co. Ltd, Mumbai

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes and the appeal filed by the revenue stands dismissed

ITA 6538/MUM/2012[2009-10]Status: DisposedITAT Mumbai17 Dec 2024AY 2009-10

Bench: Smt. Beena Pillai & Smt Renu Jauhriassessment Year: 2009-10

For Appellant: RespondentFor Respondent: Shri Kailash C. Kanojiya, CIT DR
Section 143(2)Section 14ASection 14A(1)Section 14A(2)

…is aspect, we restrict the disallowance under the third limb of Rule 8D (2) to such investments that yielded exempt income for the year under consideration. In support of this we refer to decision of Delhi High Court Cheminvest Ltd. Vs. CIT reported in (2015) 378 ITR 33 and the decision of Hon'ble Gujrat High Court in case CIT vs Corrrtech Energy Ltd. (2015) 372 ITR 97. ITA No.6290 & 6538/MUM/2024 M/s. Bennett, Coleman & Co. Ltd. We also direct the Ld.AO to consider the fact that, in the event the disallowance computed as per the directions herein above is less than the disallowance u/s. 14A may be restricted to…

M/S. Altrade Minerals Pvt. Limited, Rourkela vs. ACIT, Central Circle, Sambalpur

In the result, appeal of the assessee is partly allowed

ITA 65/CTK/2023[2011-12]Status: DisposedITAT Cuttack16 Dec 2024AY 2011-12

Bench: Before Shri George Mathanmember & Manish Agarwal Manish Agarwalassessment Year : 2011-12 M/S. Altrade Minerals Pvt /S. Altrade Minerals Pvt Vs. Asst. Asst. Commissioner Commissioner Of Of Ltd., C/O. Kadmawala & Co., C/O. Kadmawala & Co., Income Tax, Central Circle, Income Tax, Central Circle, C.A., C.A., Budhram Budhram Oram Oram Sambalpur Market, Market, Kachery Kachery Road, Road, Rourkela. Pan/Gir No. No.Aafca 7136 F (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri M.R.Sahu, Ca Revenue By : Shri S.C.Mohanty, Sr Dr : Shri S.C.Mohanty, Sr Dr Date Of Hearing : 16/12/20 2024 Date Of Pronouncement : 16/12/20 024

For Appellant: Shri M.R.Sahu, CAFor Respondent: Shri S.C.Mohanty, Sr DR
Section 120(4)(b)Section 127Section 143(2)Section 143(3)Section 14A

…se. However, it is seen that the disallowance made by the AO after invoking the provisions of Rule 8D of IT Rules comes to Rs.47,61,689/- and the assessee is having exempt income of Rs.25,48,667/-. The Hon’ble Delhi High Court in the case of Chemvist Limited, 378 ITR 33 (Del) has held that when the assessee is having no exempt income, no disallowance could be made in the hands of the assessee. Further, the Hon’ble Supreme Court in the case of Maxopp Investment vs CIT, 402 ITR 640 (SC) has held that disallowance u/s.14A should not be made on the interest free amount used for exempt income. In the present case thou…