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

DCIT 6(2), Mumbai vs. Kohinoor Projects P.Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 5241/MUM/2013[2008-09]Status: DisposedITAT Mumbai18 Oct 2016AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am The Dy. Commissioner Of Income Vs. M/S. Kohinoor Projects Pvt. Tax, Circle- 6(2), Room No.563, Ltd. Kohinoor Corporate Aayakar Bhavan, M. K. Road, Office, Senapati Bapat Churchgate, Mumbai 400 021 Marg, Dadar (W), Mumbai- 400028. Pan:Aacck6164C Appellant .. Respondent Appellant By .. Shri A. K. Dhondial, Dr Appellant By .. Shri Yogesh Dadia, Ar Date Of Hearing .. 18-10-2016 Date Of Pronouncement .. 18- 10- 2016 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 14A

…f the Act and, therefore, no disallowance can be made by invoking the provisions of Section 14A read with Rule 8D of the Rules. For this, the learned Counsel relied on the decision of the Hon‟ble Delhi High Court rendered in the case of Cheminvest Ltd. Vs CIT 378 ITR 33 (Delhi) wherein it is held as under:- “23. In the context of the facts enumerated hereinbefore the Court answers the question framed by holding that the expression „does not form part of the total income‟ in Section 14A of the Act envisages that there should be an actual receipt of income, which is not includible in the total income, during the re…

DCIT 8(1), Mumbai vs. Aptech Ltd, Mumbai

The appeal of the revenue is dismissed

ITA 2003/MUM/2014[2009-10]Status: DisposedITAT Mumbai06 Oct 2016AY 2009-10

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

Aptech Ltd, Mumbai vs. DCIT 8(1), Mumbai

The appeal of the revenue is dismissed

ITA 1271/MUM/2014[2009-10]Status: DisposedITAT Mumbai06 Oct 2016AY 2009-10

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

Aptech Ltd, Mumbai vs. DCIT 8(1), Mumbai

The appeal of the revenue is dismissed

ITA 946/MUM/2013[2007-08]Status: DisposedITAT Mumbai06 Oct 2016AY 2007-08

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

Aptech Ltd, Mumbai vs. DCIT 8(1), Mumbai

The appeal of the revenue is dismissed

ITA 723/MUM/2013[2008--09]Status: DisposedITAT Mumbai06 Oct 2016

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

DCIT 8(1), Mumbai vs. Apatech Ltd, Mumbai

The appeal of the revenue is dismissed

ITA 1228/MUM/2013[2008-09]Status: DisposedITAT Mumbai06 Oct 2016AY 2008-09

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

ACIT 8(1), Mumbai vs. Apatech Ltd, Mumbai

The appeal of the revenue is dismissed

ITA 1227/MUM/2013[2007-08]Status: DisposedITAT Mumbai06 Oct 2016AY 2007-08

Bench: Hon’Ble S/Shri Joginder Singh (Jm) & Rajesh Kumar,(Am) आमकय अऩीर सं./I.T.A. No.946 & 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 & 2008-09)

For Appellant: Shri S C Tiwari and Rutuja N
Section 14ASection 40

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “ए” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE HON’BLE S/SHRI JOGINDER SINGH (JM), AND RAJESH KUMAR,(AM) आमकय अऩीर सं./I.T.A. No.946 and 723/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) M/s Aptech Limited, बनाम/ Dy.Commissioner of Income Tax, 8(1), A-65 MIDC, Marol, Vs. R No.260-C, 2nd floor, Andheri (E), Aayakar Bhavan, Mumbai-400093 M K Road, Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.1227 and 1228/Mum/2013 (ननधधायण वषा / Assessment Year :2007-08 and 2008-09) बनाम/ Dy.Commissioner of Inc…

A.C.I.T. Central Circle 33, Mumbai vs. Archana Syntex Pvt. Ltd., Mumbai

In the result, appeal of Revenue is dismissed

ITA 7291/MUM/2011[2008-09]Status: DisposedITAT Mumbai30 Sept 2016AY 2008-09

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: (A.Y : 2008-09) Acit, Central Circle-33, Vs. M/S. Archana Syntex Pvt. Ltd., Mumbai (Appellant) Raghuvanshi Mill Compound, Senapati Bapat Marg, Lower Parel (W), Mumbai 400 013. Pan : Aadca2044E (Respondent)

For Appellant: Shri Sanat KapoorFor Respondent: Shri A. Ramachandran
Section 143(3)Section 14A

…for this, he has referred to the assessment order wherein such position has been noted. On this basis it is pointed out that no disallowance u/s 14A of the Act is permissible in view of the judgment of Hon'ble Delhi High Court in the case of Cheminvest Ltd., 378 ITR 33. In this manner, the learned representative has sought to defend the conclusion of CIT(A). 6. The ld. DR appearing for the Revenue has not disputed the factual matrix brought out by the learned representative for the assessee. 4 M/s. Archana Syntex Pvt. Ltd. 7. In view of the fact that assessee has not earned any exempt income during the year u…

United Breweries Ltd., Bangalore vs. Addl..C.I.T., Bangalore

In the result, the appeals are partly allowed

ITA 722/BANG/2014[2007-08]Status: DisposedITAT Bangalore30 Sept 2016AY 2007-08

Bench: Shri Vijay Pal Rao & Shri S. Jayaraman

For Appellant: Shri K.R. Pradeep, C.AFor Respondent: Shri Sanjay Kumar, CIT-III (D.R)
Section 14A

…regards the disallowance on account of administrative expenses, the ld. AR has submitted that when there is no dividend for the Assessment Years 2007-08 & 2008-09 and in view of the judgment of Hon'ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT 378 ITR 33, no disallowance can be made under Section 14A of the Act. He has submitted that this Tribunal by following the judgment of Hon'ble Delhi High Court in the case of Cheminvest Ltd. Vs. CIT (supra) has taken a similar view. He has relied upon the following decisions : i) Amita Verma Vs. ACIT – ITAT Delhi – ITA Nos.1145 to 1149 & 1275/Del/2013 Dt.2…

Windia Infrastructure Finance Ltd, Mumbai vs. DCIT RG 1(3)(2), Mumbai

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

ITA 5417/MUM/2015[2012-13]Status: DisposedITAT Mumbai23 Sept 2016AY 2012-13
For Appellant: Shri Vijay MehtaFor Respondent: Capt. Pradeep Arya
Section 14A

…(Kar) iii)HDFC Bank Ltd. Vs. DCIT, 383 ITR 529 (Bom) In support of the proposition that no disallowance u/s.14A is warranted in respect of investment in the subsidiary/group companies, reliance was placed on the following decisions :- i)Cheminvest Ltd. v CIT [378 ITR 33 (Del)/ 281 CTR 447 (Del)] ii) Garware Wall Ropes Limited v Addl. CIT (ITA No. 5408/Mum/2012) iii)M/s JM Financial Limited v Add!. CIT (ITA No: 4521/Mum/2012) iv)CIT v Oriental Structural Engineers Pvt. Ltd (Delhi High Court) v)M/s Provogue India Ltd v. DCIT 8(2), Mumbai being ITA No: 2155/Mum/2013 for AY. 2009-10 dated 21.01.2015; It was also cont…

DCIT, New Delhi vs. M/S. Galileo India Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 88/DEL/2014[2010-11]Status: DisposedITAT Delhi22 Sept 2016AY 2010-11

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

For Appellant: Sh. Amrit Lal, Sr. DRFor Respondent: Sh. Piyush Kaushik, Advocate
Section 14A

…t sustainable under law. 10 ITA No.88/Del./2014 Further the decision of Special Bench of ITAT in case of Cheminvest Ltd. Vs ITO as relied upon by the AO has been reversed by the Jurisdictional High Court in its decision in the case of Cheminvest Ltd. Vs CIT 378 ITR 33 (Del), copy submitted. The Jurisdictional High Court reversing the decision of ITAT Special Bench has held that section 14A will have no application in the absence of exempt income. A reliance is also placed on the following High Court decisions, copies submitted, wherein it has been held that administrative expenses cannot be disallowed u/s 14A…

DCIT, Bangalore vs. M/S Ranka N Ranka Infrastructure Pvt. Ltd., Bangalore

In the result, both these appeals of the revenue are partly

ITA 71/BANG/2016[2012-13]Status: DisposedITAT Bangalore16 Sept 2016AY 2012-13

Bench: Shri A. K. Garodia & Shri Vijay Pal Rao

For Appellant: Shri H.N.Khincha, CAFor Respondent: Shri S. Sundar Rajan, JCIT
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘C’, BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER ITA Nos.70 & 71(Bang) 2014 (Assessment years : 2011-12 & 2012-13) The Deputy Commissioner of Income Tax, Circle-5(1)(1) 2nd Floor, BMTC Complex, 80 Ft. Koramangala, Bangalore -560 095 Appellant Vs M/s Ranka N Ranka Infrastructure Pvt. Ltd., No.31, 3rd Floor, Ranka Chambers, Cunningham Road, Bangalore-570 002 Pan No.AADCR9181M Respondent Revenue by : Shri S. Sundar Rajan, JCIT Assessee by : Shri H.N.Khincha, CA Date of hearing : 08-09-2016 Date of pronou…

DCIT, Chennai vs. Chettinad Builders Pvt. Ltd., Chennai

In the result, the appeal of the Revenue is partly allowed

ITA 829/CHNY/2016[2011-12]Status: DisposedITAT Chennai08 Sept 2016AY 2011-12

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

For Appellant: Shri. Shiva Srinivas, IRS, JCITFor Respondent: Shri. K.B. Muralidaran, C.A
Section 143(2)Section 143(3)Section 14ASection 260ASection 801ASection 80I

…EIH Associates Hotels v. CIT. 7. In ACIT vs. M. Baskaran (supra) the facts related to the assessee which had not received any exempt income. The ITAT held therein that disallowance u/s.14A could not be sustained in such circumsnces. In Chemivest Ltd vs. CIT 378 ITR 33 order dated 2.09.2015 in ITA No.749/2014, the Hon’ble Delhi High Court held that disallowance u/s.14A envisages that there should be a actual receipt of income, which is not includible in the total income, during the relevant previous year for the purpose of disallowing any expenditure incurred in relation to the said income. In other words, Sec.…

M/S. V.K. International, New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 4178/DEL/2014[2010-11]Status: DisposedITAT Delhi31 Aug 2016AY 2010-11

Bench: Shri J. Sudhakar Reddyassessment Year : 2010-11

For Appellant: Shri R.S. Singhvi &For Respondent: Shri Rajesh Kumar, Sr. DR
Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : SMC-3 : NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER Assessment Year : 2010-11 V.K. International, Vs. DCIT, A-11-12, Amrit Nagar, Circle-32(1), Behind NDSE Part-I, New Delhi. New Delhi. PAN: AAAFV4599H (Appellant) (Respondent) Assessee By : Shri R.S. Singhvi & Shri Satyajeet Goel, CAs Department By : Shri Rajesh Kumar, Sr. DR Date of Hearing : 17.08.2016 Date of Pronouncement : 31.08.2016 ORDER This appeal filed by the assessee is directed against the order of the CIT(A) dated 21.5.2014 for the assessment year 2010-11. 2. There are only two…

Tata Investment Corporation Ltd, Mumbai vs. Asst CIT 2(3), Mumbai

ITA 1398/MUM/2013[2009-10]Status: DisposedITAT Mumbai26 Aug 2016AY 2009-10

Bench: S/Shri Rajendra & C.N. Prasadआयकर आयकर अपील अपील संसंसंसं./Ita/1398/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Tata Investment Corporation Ltd. Acit-2(3) Elphinstone Building, 2Nd Floor Room No.552, Aayakar Bhavan Vs. 10, Veer Nariman Road,Mumbai-1. M.K. Road,Mumbai-400 020. Pan:Aaact 4120 F (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri Kailash Gaikwad-Dr Assessee By: S/Shri M.M. Golvala & Amey Wagle सुनवाई क" तारीख / Date Of Hearing: 12.07.2016 घोषणा क" तारीख / Date Of Pronouncement: 26.08.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य लेखा सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra, Am- लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dated 26.12.2012 Of The Cit (A)-6,Mumbai, The Assessee Has Filed The Present Appeal.Assessee An Investment Company Filed Its Return Of Income On 26.09.2009,Showing Income Of Rs.28.91Crores Under The Normal Provision & Book Profit Of Rs.148.70 Crores U/S.115Jb Of The Act.The Assessing Officer (Ao),Completed The Assessment,U/S.143(3)Of The Act,On 29. 07.2011,Determining The Its Income At Rs.32.25 Crores & At Rs.149.22Crores Under The Mat Provisions.The Assessee Has Filed An Application To Admit Additional Grounds & Has Stated That The Grounds Raised Through The Application Were Legal In Nature.Considering The Fact That Same Deal With Legal Issues,We Allow The Assessee To Argue Them.

For Appellant: S/Shri M.M. Golvala and Amey WagleFor Respondent: Shri Kailash Gaikwad-DR
Section 10(33)Section 115JSection 143(3)Section 14ASection 254(1)

…आयकर अपीलीय अिधकरण, मुंबई “ई” खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी सव"ी राजे"" राजे"",लेखा लेखा सद"य सद"य एवं एवं सी सी. एन एन. "साद "साद,"याियक "याियक सद"य सद"य सव"ी सव"ी राजे"" राजे"" लेखा लेखा सद"य सद"य एवं एवं सी सी एन एन "साद "साद "याियक "याियक सद"य सद"य Before S/Shri Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर आयकर अपील अपील संसंसंसं./ITA/1398/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Tata Investment Corporation Ltd. ACIT-2(3) Elphinstone Building, 2nd Floor Room No.552, Aayakar Bhavan Vs. 10, Veer Na…

Netmagic Solutions P.Ltd, Mumbai vs. DCIT 9(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 5160/MUM/2013[2009-10]Status: DisposedITAT Mumbai25 Aug 2016AY 2009-10

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.5160/Mum/2013 (ननधधारण वषा / Assessment Year : 2009-10) बनधम/ Netmagic Solutions Pvt.Ltd., Dy. Commissioner Of Income Bldg. No.22, Nirlon Complex, Tax –Circle 9(2), Vs. Western Express Highway, Mumbai. Goregaon, Mumbai-400063

Section 14ASection 14A(2)

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “बी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.5160/Mum/2013 (ननधधारण वषा / Assessment Year : 2009-10) बनधम/ Netmagic Solutions Pvt.Ltd., Dy. Commissioner of Income Bldg. No.22, Nirlon Complex, Tax –Circle 9(2), Vs. Western Express Highway, Mumbai. Goregaon, Mumbai-400063 स्थधयी ऱेखध सं./ PAN : AABCN1254B अपीऱार्थी ओर से / Assessee by Shri Anuj Kishnadwala प्रत्यर्थी की ओर से/Revenue by Shri G N Makwana सुनवाई की तारीख / Date of Hearing : 17.8.2016 घोषणा की तारीख /Dat…

Asst CIT 10(3)(1), Mumbai vs. Nandraj Developers P. Ltd, Mumbai

ITA 727/MUM/2015[2009-10]Status: DisposedITAT Mumbai24 Aug 2016AY 2009-10
For Appellant: NoneFor Respondent: Shri N. Sathya Moorthy-DR
Section 14Section 143Section 14ASection 254(1)

…आयकर अपीलीय अिधकरण, मुंबई “ई” खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी सव"ी सव"ी राजे"" सव"ी राजे"" राजे"",लेखा राजे"" लेखा लेखा सद"य लेखा सद"य सद"य एवं सद"य एवं एवं सी एवं सी सी. एन सी एन एन. "साद एन "साद "साद,"याियक "साद "याियक "याियक सद"य "याियक सद"य सद"य सद"य Before S/Shri Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर आयकर अपील अपील संसंसंसं./ITA/727/Mum/2015,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" ACIT-10 (3)(1) M/s. Nandraj Developers Pvt. Ltd. Room No.212, Aayakar Bhavan 1, Sheffield Towers Society Vs. M.K Road V…

DCIT Cir 3(3), Mumbai vs. White Pearls Hotels & Investment P. Ltd, Mumbai

ITA 7519/MUM/2014[2011-12]Status: DisposedITAT Mumbai24 Aug 2016AY 2011-12

Bench: S/Shri Rajendra & Ram Lal Negiवष" /Assessment Years: 2011-12 आयकर आयकर अपील अपील संसंसंसं./Ita/7519/Mum/2014,िनधा"रण िनधा"रण वष" आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Dcit-3(3)(2) M/S. White Pearls Hotels & Investment Room No.609,6Th Floor, Pvt. Ltd. 4/27, 1St Floor, Kamal Mansion, Aayakar Bhavan, M.K. Road, Vs. Mumbai-400 020. Arthur Bunder Road,Colaba Mumbai-400 005. Pan: Aaacw 0011 E (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri – K.V. Vispute-Dr Assessee By: Shri Ishwer P. Rathi-Ar सुनवाई क" तारीख / Date Of Hearing: 24.08.2016 घोषणा क" तारीख / Date Of Pronouncement: 24.08.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra, Am- लेखा लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dated 19.09.2014 Of Cit(A)-7,Mumbai The Assessing Officer(Ao)Has Filed The Present Appeal.Assessee-Company,Engaged In The Business Of Hospitality,Filed Its Return Of Income,Declaring Total Income Of Rs. 3.24Crores.The Ao Completed The Assessment Under Section 143 (3) Of The Act,On 10/12/2013,Determining The Income Of The Assessee At Rs.4.85 Crores.

For Appellant: Shri Ishwer P. Rathi-ARFor Respondent: Shri – K.V. Vispute-DR
Section 14Section 143Section 14ASection 254(1)

…ribunal Special Bench in the case of Cheminvest Ltd..121 ITD 318 as per ground No.2 of grounds of appeal. 3. This issue is now well settled by the Hon’ble High Court of Delhi which has reversed the decision of the Special Bench in the case of Cheminvest Ltd.. 378 ITR 33. The relevant portion and the decision of the Hon’ble High Court reads as under: 7519/M/14 White Pearls Hotels “The expression “does not form part of the total income” in section 14A of the Income- tax Act, 1961, envisages that there should be an actual receipt of income, which is not includible in the total income, during the relevant previous…

Reliance Natural Resources Ltd, Navi Mumbai vs. Addl CIT RG 7(2), Mumbai

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

ITA 6843/MUM/2012[208-09]Status: DisposedITAT Mumbai24 Aug 2016

Bench: Shri G.S.Pannu & Shri Ravish Soodthe Dcit -7(2), Aaykar Bhavan,M.K.Road, Mumbai 400 020 ..... Appellant Vs. M/S. Reliance Natural Resources Ltd. H-Block, 1St Floor, Dhirubhai Ambani Knowledge City, Thane-Belapur Road, Koperkhairane, Navi Mumbai 400 710 Pan:Aabcr 7656P .... Respondent [ M/S. Reliance Natural Resources Ltd. H-Block, 1St Floor, Dhirubhai Ambani Knowledge City, Thane-Belapur Road, Koperkhairane, Navi Mumbai 400 710 Pan:Aabcr 7656P ... Appellant Vs. The Addl.Cit -7(2), Aaykar Bhavan,M.K.Road, Mumbai 400 020 .... Respondent Revenue By : Shri Jasbir Chouhan Assessee By : S/Shri Jitendra Sanghavi/ Deepak Jain Date Of Hearing : 17/8/2016 Date Of Pronouncement : 24/08/2016 (Assessment Year : 2008-09) Order Per G.S.Pannu,A.M:

For Appellant: S/Shri Jitendra Sanghavi/ Deepak JainFor Respondent: Shri Jasbir Chouhan
Section 143(3)Section 195Section 37(1)Section 40

…matter of dispute before us. The CIT(A) has also affirmed stand of the Assessing Officer. (Assessment Year : 2008-09) 12. Before us, the only plea raised by the assessee is based on the judgment of the Delhi High Court in the case of Cheminvest Ltd V/s CIT ( 378 ITR 33 )(Delhi) . On the strength of the aforesaid judgment, the plea of the assessee is that the investments which have not yielded any exempt income during the year, should be excluded for the purpose computing disallowance under section 14A of the Act r.w.s. Rule 8D(2) of the Rules. 13. We have considered the plea of the assessee and find no merit in…

Addl CIT 7(2), Mumbai vs. Reliance Natural Resources Ltd, Navi Mumbai

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

ITA 6711/MUM/2012[2008-09]Status: DisposedITAT Mumbai24 Aug 2016AY 2008-09

Bench: Shri G.S.Pannu & Shri Ravish Soodthe Dcit -7(2), Aaykar Bhavan,M.K.Road, Mumbai 400 020 ..... Appellant Vs. M/S. Reliance Natural Resources Ltd. H-Block, 1St Floor, Dhirubhai Ambani Knowledge City, Thane-Belapur Road, Koperkhairane, Navi Mumbai 400 710 Pan:Aabcr 7656P .... Respondent [ M/S. Reliance Natural Resources Ltd. H-Block, 1St Floor, Dhirubhai Ambani Knowledge City, Thane-Belapur Road, Koperkhairane, Navi Mumbai 400 710 Pan:Aabcr 7656P ... Appellant Vs. The Addl.Cit -7(2), Aaykar Bhavan,M.K.Road, Mumbai 400 020 .... Respondent Revenue By : Shri Jasbir Chouhan Assessee By : S/Shri Jitendra Sanghavi/ Deepak Jain Date Of Hearing : 17/8/2016 Date Of Pronouncement : 24/08/2016 (Assessment Year : 2008-09) Order Per G.S.Pannu,A.M:

For Appellant: S/Shri Jitendra Sanghavi/ Deepak JainFor Respondent: Shri Jasbir Chouhan
Section 143(3)Section 195Section 37(1)Section 40

…matter of dispute before us. The CIT(A) has also affirmed stand of the Assessing Officer. (Assessment Year : 2008-09) 12. Before us, the only plea raised by the assessee is based on the judgment of the Delhi High Court in the case of Cheminvest Ltd V/s CIT ( 378 ITR 33 )(Delhi) . On the strength of the aforesaid judgment, the plea of the assessee is that the investments which have not yielded any exempt income during the year, should be excluded for the purpose computing disallowance under section 14A of the Act r.w.s. Rule 8D(2) of the Rules. 13. We have considered the plea of the assessee and find no merit in…