Cheminvest Ltd. v. ITO

121 ITD 318Income Tax Appellate Tribunal2009#228 most cited

What is Cheminvest Ltd. v. ITO authority for?

Disallowance of expenses under Section 14A of the Income Tax Act can be made even when no exempt income has been earned or received by the assessee.

338

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

Cheminvest Ltd. v. ITO · Section 14A · disallowance of expenses · exempt income · no exempt income earned · Section 115JB · expenditure for exempt income · ITAT Special Bench · Delhi Tribunal · 121 ITD 318

Also reported as

317 ITR 86124 TTJ 577

Sections most often in play

Section 14ASection 143(3)Section 37(1)Section 115JBSection 1962Section 143(2)Section 1961Section 250

Issues it is cited on

disallowance u/s 14asection 14adisallowance under section 14asection 115jbprevious yearcompanytransfersection 14indiabusinesstotal incomesection 143

Judgments citing Cheminvest Ltd. v. ITO

JCIT(OSD)-10(2)(1), Mumbai vs. M/S.Jyothy Laboratories Limited, Mumbai

In the result, both the appeals of the revenue are dismissed and Cross Objection filed by the assessee are partly allowed

ITA 3876/MUM/2018[2014-15]Status: DisposedITAT Mumbai28 Dec 2022AY 2014-15

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Solgy Jose T. KottaramFor Respondent: J.D. Mistry
Section 115JSection 143(2)Section 143(3)Section 14ASection 229Section 80I

…ITA Nos. 3875 &3876/Mum/2018 and C.O Nos. 149 & 150/Mum/2019 1 DCIT-10(2)(1) Vs. M/s Jyothy Laboratories Limited IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 3875 & 3876/Mum/2018 s (A.Ys.2013-14 & 2014-15) DCIT-10(2)(1) Vs. M/s Jyothy Laboratories R. No. 216-A, Aayakar Limited, Ujala House, Bhavan, M.K. Road, Ram Krishna Mandir Mumbai – 400 020 Road, Kondivita, Andheri (East), Mumbai -400 059 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACJ3213B Appellant .. Respondent C.O. Nos. 149 & 150/Mum/2019 s (A.Ys.2013-…

DCIT-10(2)(1), Mumbai vs. M/S.Jyothy Laboratories Limited, Mumbai

In the result, both the appeals of the revenue are dismissed and Cross Objection filed by the assessee are partly allowed

ITA 3875/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Dec 2022AY 2013-14

Bench: Shri Amit Shukla & Shri Amarjit Singh

For Appellant: Solgy Jose T. KottaramFor Respondent: J.D. Mistry
Section 115JSection 143(2)Section 143(3)Section 14ASection 229Section 80I

…ITA Nos. 3875 &3876/Mum/2018 and C.O Nos. 149 & 150/Mum/2019 1 DCIT-10(2)(1) Vs. M/s Jyothy Laboratories Limited IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 3875 & 3876/Mum/2018 s (A.Ys.2013-14 & 2014-15) DCIT-10(2)(1) Vs. M/s Jyothy Laboratories R. No. 216-A, Aayakar Limited, Ujala House, Bhavan, M.K. Road, Ram Krishna Mandir Mumbai – 400 020 Road, Kondivita, Andheri (East), Mumbai -400 059 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACJ3213B Appellant .. Respondent C.O. Nos. 149 & 150/Mum/2019 s (A.Ys.2013-…

DCIT, Chennai vs. Siva Ventures Ltd., Chennai

The appeal of the revenue stand partly allowed in terms of our above order

ITA 1417/CHNY/2016[2008-2009]Status: DisposedITAT Chennai23 Dec 2022AY 2008-2009

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

For Appellant: Shri B. Ramakrishnan (CA) – Ld. ARFor Respondent: Ms. Ann L.Kapthuama (CIT) –Ld. DR
Section 143(3)Section 14ASection 250(6)

…आयकर अपीलीय अिधकरण ‘डी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI माननीय ,ी महावीर िसंह, उपा23 एवं माननीय ,ी मनोज कुमार अ8वाल ,लेखा सद; के सम3। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM. आयकरअपीलसं./ITA No.1390/Chny/2016 (िनधाDरणवषD / Assessment Year: 2008-09) M/s. Siva Industries and Holdings Ltd. DCIT (merged entity of M/s Siva Ventures Ltd.) Corporate Circle-3(2), बनाम/ New No.19, Old No.32, Chennai. Vs. Cathedral Garden Road, Nugambakkam Chennai – 600 034 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACS-8496-D (अपीलाथ"/Appellant) : (""थ…

Siva Industries and Holdings Limited, Chennai vs. DCIT, Chennai

The appeal of the revenue stand partly allowed in terms of our above order

ITA 1390/CHNY/2016[2008-09]Status: DisposedITAT Chennai23 Dec 2022AY 2008-09

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am.

For Appellant: Shri B. Ramakrishnan (CA) – Ld. ARFor Respondent: Ms. Ann L.Kapthuama (CIT) –Ld. DR
Section 143(3)Section 14ASection 250(6)

…आयकर अपीलीय अिधकरण ‘डी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI माननीय ,ी महावीर िसंह, उपा23 एवं माननीय ,ी मनोज कुमार अ8वाल ,लेखा सद; के सम3। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM. आयकरअपीलसं./ITA No.1390/Chny/2016 (िनधाDरणवषD / Assessment Year: 2008-09) M/s. Siva Industries and Holdings Ltd. DCIT (merged entity of M/s Siva Ventures Ltd.) Corporate Circle-3(2), बनाम/ New No.19, Old No.32, Chennai. Vs. Cathedral Garden Road, Nugambakkam Chennai – 600 034 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACS-8496-D (अपीलाथ"/Appellant) : (""थ…

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4295/MUM/2009[2007-08]Status: DisposedITAT Mumbai30 Nov 2022AY 2007-08

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4294/MUM/2009[2004-05]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-05

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

ACIT CC-43, Mumbai vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 4293/MUM/2009[2002-03]Status: DisposedITAT Mumbai30 Nov 2022AY 2002-03

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

Roha Dyechem P. Ltd, Mumbai vs. ACIT Cen Cir 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2863/MUM/2009[2007-08]Status: DisposedITAT Mumbai30 Nov 2022AY 2007-08

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

Roha Dyechem Pvt.Ltd., Mumbai vs. ACIT-Central Circle 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2862/MUM/2009[2006-07]Status: DisposedITAT Mumbai30 Nov 2022AY 2006-07

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

Roha Dyechem Pvt.Ltd., Mumbai vs. ACIT-Central Circle 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2860/MUM/2009[2004-05]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-05

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

Roha Dyechem P. Ltd, Mumbai vs. ACIT Cen Cir 43, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 2859/MUM/2009[2002-03]Status: DisposedITAT Mumbai30 Nov 2022AY 2002-03

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

ACIT Cen Ci-43 vs. Roha Dyechem P. Ltd, Mumbai

In the result, all the appeals of the assessee and revenue except ITA No

ITA 10/MUM/2009[2004-2005]Status: DisposedITAT Mumbai30 Nov 2022AY 2004-2005

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2004-05 Acit Cen Ci-43 Rohadyechem Pvt Ltd., 6Th Floor, R.No. 659, Aayakar Survoday Mill Compund, Bhavan, M.K.Rd. Vs. M.P. Mills, Tardeo, Mumbai 400 020 Mumbai-400 034 Pan No. Aaacr 4974P Appellant Respondent

Section 143Section 143(3)Section 153ASection 80HSection 80ISection 92C

…dividend income received during the year is much more than the income earned by it and hence no disallowance under section 14A is called for. In this regard reliance is placed on the judgement of Hon‟ble ITAT special bench Delhi in the case of Cheminvest Ltd 124 TTJ 577 wherein the Hon‟ble Court held that disallowance under section 14A can be made even when no exempt was received during the year. Furtehr the appellant placed reliance on judgment of Hon. Chadigarh ITAT in the case of Punjab State Coooperative and Marketing (supra). However, on perusal of this judgement it is noted that the same relates to AY 2005…

Assistant Commissioner of Income Tax, Circle- 1(1), Raipur vs. Mesers Vandana Ispat Limited, Raipur

In the result, the appeal of revenue is dismissed

ITA 183/RPR/2019[2013-14]Status: DisposedITAT Raipur31 Oct 2022AY 2013-14
For Appellant: Shri R.B.Doshi, CAFor Respondent: Shri G.N.Singh, Sr. DR
Section 68

…all also apply in relation to case where any assessee claims that no expenditure has been incurred by him in relation to the income which does not part form part of the total income under this Act, as held in the case of Cheminvest Ltd. Vs ITO (ITAT, SB- Del) 121 ITD 318 and Pradeep Kar Vs ACIT(Kar) 319 ITR 416?” 21. “Whether on points of law and facts & circumstances of the case, the Ld. CIT(A) was justified by giving a finding that the exemption of income from taxability by claiming no 5 expenditure when assessee as an earner of exempt income did not discharge his onus to prove that it did not incur expenditure…

Assistant Commissioner of Income Tax, Circle 1(1), Raipur vs. Shri Subodh Singhania, Raipur

ITA 135/RPR/2019[2014-15]Status: DisposedITAT Raipur17 Oct 2022AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.135/Rpr/2019 "नधा"रण वष" / Assessment Year : 2014-15

For Appellant: Shri Veekaas S. Sharma, CAFor Respondent: Shri Debashish Lahiri, CIT-DR
Section 143(3)Section 68

…hall also apply in relation to case where any assessee claims that no expenditure has been incurred by him in relation to the income which does not part form part of the total income under this Act, as held in the case of Cheminvest Ltd. Vs ITO (ITAT, SB-Del) 121 ITD 318 AND Pradeep Kar Vs ACIT(Kar) 319 ITR 416?". 12."Whether on points of law and on facts & circumstances of the case, the Ld. CIT(A) having the concurrent powers of the AO as per the provisions of law u/s 250(4) of the IT Act, was justified in' giving the finding that the impugned amounts of advance received against sale of land and advance from cus…

Assistant Commissioner of Income Tax, Circle -1(1), Raipur vs. M/S R.N. Navnirman Private Limited, Raipur

ITA 143/RPR/2018[2014-15]Status: DisposedITAT Raipur23 Sept 2022AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.143/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. R.N. Navnirman Pvt. Ltd. Vandana Building, Raipur (C.G.) Pan : Aadcr0896D ……""यथ" / Respondent Assessee By :Shri R.B Doshi, Ca Revenue By :Shri Sanjay Kumar, Sr. Dr

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Sanjay Kumar, Sr. DR
Section 14ASection 14A(2)Section 14A(3)Section 250(4)Section 68

…hall also apply in relation to case where any assessee claims that no expenditure has been incurred by him in relation to the income which does not part form part of the total income under this Act, as held in the case of Cheminvest Ltd. Vs ITO (ITAT, SB-Del) 121 ITD 318 a d Pradeep Kar Vs ACIT(Kar) 319 ITR 416? 9. "Whether on points of law and facts & circumstances of the case, the Ld. CIT(A) was justified by giving a finding that the exemption of income from taxability by claiming no expenditure when assessee as an earner of exempt income did not discharge his onus to prove that it did not incur expenditure to…

Assistant Commissioner of Income Tax-2(1), Raipur vs. M/S Mahendra Sponge 7 Power Pvt Ltd, Raipur

In the result, appeal of the Revenue is dismissed in terms of our aforesaid observations

ITA 197/RPR/2017[2013-14]Status: DisposedITAT Raipur28 Jul 2022AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 197/Rpr/2017 "नधा"रण वष" / Assessment Year : 2013-14 The Assistant Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. Mahendra Sponge & Power Pvt. Ltd. Plot No.76 & 77, Industrial Growth Area, Siltara, Raipur (C.G.) Pan : Aadcm5765E ……""यथ" / Respondent

For Appellant: Shri Amit M Jain, CAFor Respondent: Shri Sanjay Kumar, Sr. DR
Section 143(2)Section 143(3)Section 14ASection 14A(2)Section 14A(3)Section 80I

…ection 14A(2) apply in relation to case where any assessee claims that no expenditure has been incurred by him in relation to the income which does not form part of the total income under this Act, as held in the case of Cheminvest Ltd. Vs. ITO (ITAT, SB-Del) 121 ITD 318 and Pradeep Kar Vs. ACIT(Kar) 319 ITR 416?" g. "Whether on points of law and on facts & circumstances of the case, the Ld. CIT(A) was justified in placing reliance on the ration of the decision in the case of Maxopp Investment Ltd. 347 ITR 272 ( Delhi) which is distinguishable on facts and circumstances of the instant case”. h. “Whether on points…

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

The appeal of the assessee is allowed for statistical purposes

ITA 738/HYD/2017[2012-13]Status: DisposedITAT Hyderabad14 Jul 2022AY 2012-13

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Victory Electricals Ltd., V Dcit,Circle-17(2) Plot No.8, Survey No.855, S. Signature Towers Ida, Medchal, Kondapur Ranga Reddy, Hyderabad Hyderabad-501 401

For Appellant: Shri S.Rama Rao, AdvocateFor Respondent: Shri Dr.Rajendra Kumar,CIT-DR
Section 14ASection 32(2)Section 36Section 36(1)(vii)

…while ascertaining the expenditure incurred for earning tax-free income from investment [Technopak Advisors (P.) Ltd [2012) 50 SOT 31 (Delhi) para 3, Relaxo footwears ltd. V. Addl. CIT (2012) 50 SOT 102 (Delhi) and Cheminvest Ltd. v. Income-Tax Officer [2009] 121 ITD 318 (DELHI)(SB) followed). 6.7 For an example the interest paid on borrowings for the purchase of shares is treated as allowable under section 57 as an expenditure incurred for earning or making income or under section 36( 1) (iii) as an expenditure incurred wholly and exclusively for the purpose of business prior to introduction of section 14A. Now…

DCIT 10(2)(1), Mumbai vs. Jyothy Laboratories Ltd, Mumbai

In the result, the appeal of the revenue as well as the Cross

ITA 7280/MUM/2016[2012-13]Status: DisposedITAT Mumbai18 May 2022AY 2012-13

Bench: Shri Vikas Awasthy & Shri Amarjit Singhacit-10(2)(1) Vs. M/S Jyothy Laboratories R. No. 216-A, Aayakar Ltd., Ujala House, Ram Bhavan, M.K. Road, Krishna Mandir Road, Mumbai – 400 020 Kondivita, Andheri (East) Mumbai - 400059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcl3167F Appellant .. Respondent

For Appellant: J.D. Mistry, Priyanka Jain &For Respondent: Achal Sharma
Section 143(2)Section 143(3)Section 14ASection 2(29)(BA)Section 80I

…law, the learned CIT(A) erred in deleting the disallowance u/s.14A observing that since there is no exempt income, no disallowance can be made u/s.14A without appreciating that as held in the decision of Special Bench of ITAT, Delhi in the case of Chemiinvest 121 ITD 318 (Delhi) (SB), provisions of section 14A are applicable even through no exempt income has been earned during the year. 5. The appellant prays that the order of the CIT(A) on the above ground be set aside and that of the A.O. be restored. 6. The appellant craves leave to amend or alter any grounds or add a new ground which may be necessary.” 2. The…

Veerath Gopalan Nair, Mumbai vs. ACIT Circle-3, Kalyan

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

ITA 2468/MUM/2019[2011-12]Status: DisposedITAT Mumbai11 May 2022AY 2011-12

Bench: Shri Vikas Awasthy () & Shri Om Prakash Kant () Assessment Year: 2011-12 Shri Veerath Gopalan Nair, The Asst. Commissioner Of Gr. Floor, Gurumilan Chs Ltd., Opp. Income Tax Circle-3, Tilak Nagar Post Office, Dombivali (E), Vs. Kalyan-421 301. Mumbai-421 201. Pan No. Aajpn 9435 H Appellant Respondent Assessee By : None Revenue By : Mr. S.N. Kabra, Dr Date Of Hearing : 13/04/2022 Date Of Pronouncement : 11/05/2022

For Appellant: NoneFor Respondent: Mr. S.N. Kabra, DR
Section 144Section 14A

…puted fact in the case is that the assessee has not received any exempted income during the year under consideration. Shri Veerath Gopalan Nair 12 Therefore, in view of the decision of the Hon’ble Delhi High Court in the case of Cheminvest Ltd. v. CIT (2009) 317 ITR 86, no disallowance is called for in terms of section 14A of the Act. Therefore, the disallowance sustained by the Ld. CIT(A) is deleted. The ground of the appeal of the assessee is accordingly allowed. 6. In the result, the appeal filed by the assessee is partly allowed. Order pronounced in the open Court on 11/05/2022. (VIKAS AWASTHY) ACCOUNTANT…

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 404/COCH/2020[2016-17]Status: DisposedITAT Cochin24 Feb 2022AY 2016-17

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma
Section 143(3)Section 14ASection 92C

…ear has not earned any exempt income. The above aspect has been settled by the Honorable High Court of Delhi in the case of Cheminvest Ltd. V CIT (378 ITT 33) which has overruled the Special Bench decision of the Tribunal in the case of CheminvestLtd. V ITO (121 ITD 318). Further, the Delhi High Court in the case of PCIT Vs IL & FS Energy Development Co Ltd (399 ITR 483) held that CBDT Circular 5/2014 cannot override the express provisions of Section 14A read with Rule 8D. The Apex Court confirmed the decision of Madras High Court in the case of CIT VsChettinad Logistics (P) Ltd., (80 taxmann 221) also held that…