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 367,154 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

DCIT Cen Cir 3(2), Mumbai vs. Jsw Steel Ltd, Mumbai

The appeal of the assessee is allowed, and appeal of the Assessing Officer is dismissed

ITA 6264/MUM/2018[2013-14]Status: DisposedITAT Mumbai14 May 2020AY 2013-14
For Appellant: On the facts and circumstances of the case and in law, the learned Assessing
Section 115JSection 143(3)Section 14ASection 8D(2)(ii)

…dend income had been earned by the Assessee in the relevant AY? The Court referred to the decision of this Court in Maxopp Investment Ltd's. case (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. ITO [2009] 121 ITD 318. The Court also referred to three decisions of different High Courts which have decided the issue against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc . [2014] 226 Taxman 45/49 taxmann.com 257 of the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same Court in CIT v. Hero Cycles Ltd.…

Jsw Steel Ltd., Mumbai vs. DCIT, CC- 3(2), Mumbai

The appeal of the assessee is allowed, and appeal of the Assessing Officer is dismissed

ITA 6103/MUM/2018[2013-14]Status: DisposedITAT Mumbai14 May 2020AY 2013-14
For Appellant: On the facts and circumstances of the case and in law, the learned Assessing
Section 115JSection 143(3)Section 14ASection 8D(2)(ii)

…dend income had been earned by the Assessee in the relevant AY? The Court referred to the decision of this Court in Maxopp Investment Ltd's. case (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. ITO [2009] 121 ITD 318. The Court also referred to three decisions of different High Courts which have decided the issue against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc . [2014] 226 Taxman 45/49 taxmann.com 257 of the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same Court in CIT v. Hero Cycles Ltd.…

Deputy Commissioner of Income Tax, Circle- 1(1)(1), Bengaluru vs. M/S. Atria Brindavan Power Private Limited, Bengaluru

In the result, the appeal of the revenue is dismissed

ITA 1814/BANG/2019[2016-17]Status: DisposedITAT Bangalore13 Mar 2020AY 2016-17

Bench: Shri B. R. Baskaran & Smt. Beena Pillaiassessment Year: 2016-17

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Priyadarshini Mishra, D.R
Section 143(3)Section 14A

…e before Ld. CIT(A) was that he did not earn any exempt income and hence no disallowance u/s 14A of the Act is called for. The A.O. had made the disallowance by following the decision rendered by Delhi Special Bench of Tribunal in the case of Chem Invest Ltd. 121 ITD 318 and decision rendered by Hon’ble Kartakana High Court in the case of Pradeep Kar Vs. ACIT 319 ITR 416. The Ld. CIT(A) noticed that decision of Special Bench in the case of Cheminvest Ltd (supra) has been reversed by Hon'ble Delhi High Court and the decision in the case of Pradeep Kar (supra) was rendered in different context. Accordingly, the Ld…

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

….1,66,04,551/- and Rs.40,38,935/-. A perusal of the assessment order would indicate that the ld.AO straight away applied Rule 8D and made ITA No1080 & 1081 and 1193 & 1194 /Ahd/2018 16 reference to the decision of ITAT in the case of Cheminvest Ltd. Vs. ITO, 124 TTJ 577 (Del)(SB). He also made reference to the decision of Special Bench in the case of Daga Capital Management P.Ltd., 117 ITD 169 (Mum)(SB). Apart from these decisions, he made reference to the Hon’ble Rajasthan High Court in the case of Rajasthan state Warehousing Corpn Ltd. Vs. CIT, 242 ITR 450(Raj), and also four more ITAT’s orders. He worked out…

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

….1,66,04,551/- and Rs.40,38,935/-. A perusal of the assessment order would indicate that the ld.AO straight away applied Rule 8D and made ITA No1080 & 1081 and 1193 & 1194 /Ahd/2018 16 reference to the decision of ITAT in the case of Cheminvest Ltd. Vs. ITO, 124 TTJ 577 (Del)(SB). He also made reference to the decision of Special Bench in the case of Daga Capital Management P.Ltd., 117 ITD 169 (Mum)(SB). Apart from these decisions, he made reference to the Hon’ble Rajasthan High Court in the case of Rajasthan state Warehousing Corpn Ltd. Vs. CIT, 242 ITR 450(Raj), and also four more ITAT’s orders. He worked out…

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

….1,66,04,551/- and Rs.40,38,935/-. A perusal of the assessment order would indicate that the ld.AO straight away applied Rule 8D and made ITA No1080 & 1081 and 1193 & 1194 /Ahd/2018 16 reference to the decision of ITAT in the case of Cheminvest Ltd. Vs. ITO, 124 TTJ 577 (Del)(SB). He also made reference to the decision of Special Bench in the case of Daga Capital Management P.Ltd., 117 ITD 169 (Mum)(SB). Apart from these decisions, he made reference to the Hon’ble Rajasthan High Court in the case of Rajasthan state Warehousing Corpn Ltd. Vs. CIT, 242 ITR 450(Raj), and also four more ITAT’s orders. He worked out…

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

…ad been earned by the assessee in the relevant assessment year? The Court referred to the decision of this Court in Maxopp Investment Ltd.'s case (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. ITO [2009] 121 ITD 318. The Court also referred to three decisions of different High Courts which have decided the issue 3 Innus Infrastructure Pvt. Ltd. against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc. [2014] 226 Taxman 45/49 taxmann.com 257 of the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same…

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

…ad been earned by the assessee in the relevant assessment year? The Court referred to the decision of this Court in Maxopp Investment Ltd.'s case (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. ITO [2009] 121 ITD 318. The Court also referred to three decisions of different High Courts which have decided the issue against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc. [2014] 226 Taxman 45/49 taxmann.com 257 of the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same Court in CIT v. Hero Cycles Ltd.…

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

…ad been earned by the assessee in the relevant assessment year? The Court referred to the decision of this Court in Maxopp Investment Ltd.'s case (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. ITO [2009] 121 ITD 318. The Court also referred to three decisions of different High Courts which have decided the issue against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc. [2014] 226 Taxman 45/49 taxmann.com 257 of 3 Hero Management Services Ltd. the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same C…

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

…e year under consideration, no disallowance is to be made u/s 14A r.w.r 8D of the Act. This issue is by now well settled in favour of the assessee and against the revenue by the decision of the Special Bench of the Tribunal in the case of M/s Cheminvest Ltd 121 ITD 318 which was reversed by the Hon'ble High Court of Delh 61 Taxman.com 118. Same view is taken by the Hon'ble Gujarat High Court in the case of Corrtech Energy (P) Ltd 372 ITR 97. In view of the above, disallowance of Rs. 3,55,46,083/- is directed to be deleted. Ground raised by the revenue is dismissed. 9. In the result, the appeal of the Revenue…

Akzo Nobel India Limited, Kolkata vs. DCIT, Circle - 10(1), Kolkata

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

ITA 114/KOL/2018[2013-14]Status: DisposedITAT Kolkata07 Feb 2020AY 2013-14

Bench: Shri A. T. Varkey, Jm & Dr. A.L. Saini, Am Akzo Nobel India Limited Vs. Dcit, Circle-10(1), Kolkata Geetanjali Middletown Street, Kolkata – 700071. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaci6297A (अपीलाथ" /Appellant) (""यथ" / Respondent) ..

For Appellant: Shri Manoneet Dalal, Adv. & Purba Banerjee, AdvocateFor Respondent: Dr. P. K. Srihari, CIT(DR)
Section 143(3)Section 144C(5)Section 92

…laws relied upon, and perused the fact of the case including the findings of the ld. CIT(A) and other materials brought on record. We note that issue under consideration is no longer res integra. The Special Bench of ITAT in the case of Cheminvest Ltd. Vs CIT 121 ITD 318 (Delhi)(SB) held that the disallowance u/s 14A of the Act can be made even in the year where there is no exempt income earned or received by the assessee. The decision of the Special Bench on which the Ld. DRP placed reliance has since been reversed by the Hon’ble Delhi High Court in the case of Cheminvest Ltd. Vs CIT 317 ITD 33(Delhi), wherein i…

Joint Commissioner of Income Tax (OSD) Central Circle-1(3), Bangalore vs. M/S Vikas Telecom Limited, Bangalore

In the result, the appeal of the revenue is dismissed

ITA 771/BANG/2019[2012-13]Status: DisposedITAT Bangalore29 Jan 2020AY 2012-13

Bench: Shri Arun Kumar Garodia, Am & Shri Pavan Kumar Gadale, Jm Assessment Year : 2012 – 13 M/S Vikas Telecom Ltd., Jcit (Osd), Central First Floor, Embassy Point, Circle – 1 (3), Vs. 150, Infantry Road, Bangalore Bangalore – 560001. Pan: Aabcv4966E Appellant Respondent Assessee By : Ms Anushree, C. A. Revenue By : Shri Sunil Kumar Agarwal, Addl. Cit Dr Date Of Hearing : 28.11.2019 Date Of Pronouncement : 29.01.2020 O R D E R Per Shri A.K. Garodia, Am:

For Appellant: MS Anushree, C. AFor Respondent: Shri Sunil Kumar Agarwal, Addl. CIT DR
Section 14A

…out that on page 13 of his order, it is observed by CIT (A) that it is not disputed that the assessee did not earn any exempt income and he followed the judgment of Hon’ble Delhi High Court rendered in the case of M/s Chemifinvest Ltd. Vs. CIT as reported in 317 ITR 86. He also submitted the tax effect in this appeal of revenue is below Rs. 50 lacs and therefore, because of low tax effect also, this appeal of the revenue is not maintainable. ITA Nos.771(B)/2019 Page 2 of 2 4. We have considered rival submissions. Respectfully following the judgment of Hon’ble Delhi High Court rendered in the case of M/s Chemifi…

Niit Technologies Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

ITA 5525/DEL/2013[2008-09]Status: DisposedITAT Delhi28 Jan 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: 1. That the Commissioner of Income-Tax (Appeals) erred on facts and in law in up
Section 14ASection 35D

…y shares in NIIT GIS ltd, NIIT Smartserve ltd. and other companies. Therefore, administration and management expenses on account of use of official machinery calls for disallowance u/s 14A. 8.6.9 Hon’ble Special Bench of ITAT in Cheminvest Ltd. v. ITO [2009] 121 ITD 318 (DELHI)(SB) held that where any expenditure has been incurred by an assessee in relation to an income, that does not form part of total income disallowance u/s 14A could be made even if no income has resulted or made or earned by the assessee in the year under consideration. 8.6.10 The correctness of the claim of expenditure made by the appellan…

Niit Technologies Ltd., New Delhi vs. ACIT, New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

ITA 5524/DEL/2013[2007-08]Status: DisposedITAT Delhi28 Jan 2020AY 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: 1. That the Commissioner of Income-Tax (Appeals) erred on facts and in law in up
Section 14ASection 35D

…y shares in NIIT GIS ltd, NIIT Smartserve ltd. and other companies. Therefore, administration and management expenses on account of use of official machinery calls for disallowance u/s 14A. 8.6.9 Hon’ble Special Bench of ITAT in Cheminvest Ltd. v. ITO [2009] 121 ITD 318 (DELHI)(SB) held that where any expenditure has been incurred by an assessee in relation to an income, that does not form part of total income disallowance u/s 14A could be made even if no income has resulted or made or earned by the assessee in the year under consideration. 8.6.10 The correctness of the claim of expenditure made by the appellan…

ACIT, New Delhi vs. M/S Niit Technologies Ltd., New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

ITA 5492/DEL/2013[2008-09]Status: DisposedITAT Delhi28 Jan 2020AY 2008-09

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: 1. That the Commissioner of Income-Tax (Appeals) erred on facts and in law in up
Section 14ASection 35D

…y shares in NIIT GIS ltd, NIIT Smartserve ltd. and other companies. Therefore, administration and management expenses on account of use of official machinery calls for disallowance u/s 14A. 8.6.9 Hon’ble Special Bench of ITAT in Cheminvest Ltd. v. ITO [2009] 121 ITD 318 (DELHI)(SB) held that where any expenditure has been incurred by an assessee in relation to an income, that does not form part of total income disallowance u/s 14A could be made even if no income has resulted or made or earned by the assessee in the year under consideration. 8.6.10 The correctness of the claim of expenditure made by the appellan…

ACIT, New Delhi vs. M/S Niit Technologies Ltd., New Delhi

In the result, both the appeals of the assessee are partly allowed and the appeal of Revenue for assessment year 2007-08

ITA 5491/DEL/2013[2007-08]Status: DisposedITAT Delhi28 Jan 2020AY 2007-08

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

For Appellant: 1. That the Commissioner of Income-Tax (Appeals) erred on facts and in law in up
Section 14ASection 35D

…y shares in NIIT GIS ltd, NIIT Smartserve ltd. and other companies. Therefore, administration and management expenses on account of use of official machinery calls for disallowance u/s 14A. 8.6.9 Hon’ble Special Bench of ITAT in Cheminvest Ltd. v. ITO [2009] 121 ITD 318 (DELHI)(SB) held that where any expenditure has been incurred by an assessee in relation to an income, that does not form part of total income disallowance u/s 14A could be made even if no income has resulted or made or earned by the assessee in the year under consideration. 8.6.10 The correctness of the claim of expenditure made by the appellan…

M/S Hindustan Thermalprojects Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 2289/DEL/2017[2012-13]Status: DisposedITAT Delhi27 Jan 2020AY 2012-13

Bench: Shri N.K. Billaiya & Shri Kuldip Singh[A.Y 2012-13]

For Appellant: Shri Dinesh Verma, AdvFor Respondent: Shri S.N. Meena, Sr. DR
Section 14A

…d by the assessee during the year, there cannot be any disallowance u/s 14A r.w.r 8D. This issue is by now well settled in favour of the assessee and against the revenue by the decision of the Special Bench of the Tribunal in the case of M/s Cheminvest Ltd 121 ITD 318 which was affirmed by the Hon'ble High Court of Delhi. Same view is taken by the Hon'ble Gujarat High Court in the case of Corrtech Energy (P) Ltd 372 ITR 97. In view of the above, the impugned disallowance is directed to be deleted. Accordingly, the Ground raised by the assessee is allowed. 9. In the result, the appeal of the assessee in ITA N…

Pony Infrastructure and Contractors Limited, Mumbai vs. Income Tax Officer Ward-13(1)(4), Mumbai

Appeal is dismissed with no order as to costs

ITA 6969/MUM/2018[2014-15]Status: DisposedITAT Mumbai22 Jan 2020AY 2014-15

Bench: Shri Saktijit Dey, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 6969/Mum/2018 (निर्धारणवर्ा / Assessment Year: 2014-15)

For Appellant: Shri K. G. Bohra, ARFor Respondent: Shri Kumar Padmapani
Section 143(1)Section 143(2)Section 143(3)Section 14A

…no dividend income had been earned by the Assessee in the relevant AY? The Court referred to the decision of this Court in Maxopp Investment Ltd. (supra) and to the decision of the Special Bench of the ITAT in this very case i.e. Cheminvest Ltd. v. CIT (2009) 317 ITR 86. The Court also referred to three decisions of different High Courts which have decided the issue against Revenue. The first was the decision in Commissioner of Income Tax, Faridabad v. M/s. Lakhani Marketing Incl. (decision dated 2nd April 2014 of the High Court of Punjab and Haryana in ITA No. 970/2008) which in turn referred to two earlier deci…

DCIT 9(3)(2), Mumbai vs. Future Market Networks Ltd, Mumbai

In the result, appeal of the revenue is dismissed

ITA 4470/MUM/2018[2014-15]Status: DisposedITAT Mumbai10 Jan 2020AY 2014-15

Bench: Shri Pawan Singh & Shir S Rifaur Rahmanआयकर अपील सं./I.T.A. No.4470/Mum/2018 ("नधा"रण वष" / Assessment Years : 2014-15

For Appellant: Shri Sushil Kumar PoddarFor Respondent: Miss. Dinkle Haria (AR)
Section 10(34)Section 143(1)Section 143(2)Section 14A

…red an appeal before the CIT(A) and the CIT(A) considered the submissions of the assessee that assessee has not earned any exempt income during this year by relying on the decision of Hon’ble Delhi High Court in the case of Cheminvest Ltd., reported in [2009] 121 ITD 318 (Delhi SB) and deleted the disallowance made u/s 14A of the Act. ITA No.4470/Mum/2018. Future Market Networks Ltd., Mumbai. 4. Aggrieved with the above order the revenue is in appeal before us by raising the following grounds of appeal:- “1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in delet…

Mumbai International Airport P.Ltd, Mumbai vs. DCIT 10(2)(2), Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2018/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Jan 2020AY 2013-14

Bench: Shri G. Manjunatha & Shri Ravish Soodmumbai International Airport Vs. Dcit,Circle-10(2)(2) Private Limited Room No.209,Aaykar Bhawan Finance Department M.K.Road 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099 Pan/Gir No.Aaecm6285C (Appellant) .. (Respondent) & Dcit-10(2)(2) Vs. Mumbai International Room No.216-A,Aaykar Bhawan Airport Private Limited M.K.Road Finance Department, 1St Floor, Terminal 1B Mumbai-400 020 Chhatrapati Shivaji Internaitonal Airport Santacruz (E) Mumbai-400 099

Section 143(3)Section 14ASection 40

…, 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 this decision of Special Bench of 1TAT, Delhi in the case of Chemiinvest 121 ITD 318 (Delhi) (513), provisions of section 14A are applicable even through no exempt income has been earned during the year," 6. "On the facts and in the circumstances of the case and in law, whether the Ld..CIT(A) Is correct in law to delete the disallowance on account of delayed deposit of employee's contribution to ES1C into Govt, treasury in light…