CIT(A) v. Catholic Syrian Bank Ltd and Ors.

237 CTR 164High Court2011#8330 most cited

What is CIT(A) v. Catholic Syrian Bank Ltd and Ors. authority for?

For expenditure to be disallowed under Section 14A, the revenue must establish a nexus between the expenditure and the exempt income. The onus is on the revenue to prove this connection.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2021.

Also referred to as

CIT(A) v. Catholic Syrian Bank Ltd · Section 14A · expenditure to earn exempt income · nexus between expenditure and exempt income · onus on revenue · disallowance of expenditure

Also reported as

330 ITR 556

Judgments citing CIT(A) v. Catholic Syrian Bank Ltd and Ors.

DCIT, New Delhi vs. M/S. Hero Honda Motors Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6302/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…nvestments Ltd. vs. DCIT: 48 SOT 169 (Del. ITAT) - PukhrajChunilalBafna vs. DCIT: 65 SOT 187 (Mum. ITAT) - DCIT vs. Smita Conductors Ltd.: 16 SOT 251 (Mum. ITAT) - DCIT vs. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Amr. ITAT) - CIT v. Catholic Syrian Bank Ltd.:237 CTR 164/207 Taxman 2 (Kar.) 3.0.6 The Ld. AR submitted that in the present case, no expenditure was incurred to earn exempt income. The expenses debited in the profit and loss account pertained to main business activity of manufacturing two wheelers and were unrelated to earning of dividend income. Further, it was submitted that the revenue earned from…

M/S. Hero Motocorp Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6282/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…nvestments Ltd. vs. DCIT: 48 SOT 169 (Del. ITAT) - PukhrajChunilalBafna vs. DCIT: 65 SOT 187 (Mum. ITAT) - DCIT vs. Smita Conductors Ltd.: 16 SOT 251 (Mum. ITAT) - DCIT vs. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Amr. ITAT) - CIT v. Catholic Syrian Bank Ltd.:237 CTR 164/207 Taxman 2 (Kar.) 3.0.6 The Ld. AR submitted that in the present case, no expenditure was incurred to earn exempt income. The expenses debited in the profit and loss account pertained to main business activity of manufacturing two wheelers and were unrelated to earning of dividend income. Further, it was submitted that the revenue earned from…

Triveni Engineering & Industries Ltd., Noida vs. ACIT, New Delhi

ITA 1959/DEL/2016[2005-06]Status: DisposedITAT Delhi06 Aug 2020AY 2005-06

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 115JSection 143(1)Section 143(2)Section 14A

…of the expenditure under the said section, the onus is on the Revenue to bring on record nexus between the expenditure and the exempt income. The decision of the Hon’ble Kerala High Court in the case of CIT(A) Vs. Catholic Syrian Bank Ltd and Ors 330 ITR 556/237 CTR 164. The Ld. AR relied upon the decision of the Hon’ble Kerala High Court in case of Catholic Syrian Bank (Supra), the decision of Ahmedabad Bench of Tribunal in case of ACIT Vs. Torrent Pharmaceuticals Ltd 137 ITD 301 as well as the decision of the Delhi Bench of the Tribunal in case of SIL Investment Ltd. vs. ACIT: 148 TTJ 213 (Del.), wherein the T…

Triveni Engineering & Industries Ltd., Noida vs. ACIT, New Delhi

ITA 1958/DEL/2016[2004-05]Status: DisposedITAT Delhi06 Aug 2020AY 2004-05

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 115JSection 143(1)Section 143(2)Section 14A

…of the expenditure under the said section, the onus is on the Revenue to bring on record nexus between the expenditure and the exempt income. The decision of the Hon’ble Kerala High Court in the case of CIT(A) Vs. Catholic Syrian Bank Ltd and Ors 330 ITR 556/237 CTR 164. The Ld. AR relied upon the decision of the Hon’ble Kerala High Court in case of Catholic Syrian Bank (Supra), the decision of Ahmedabad Bench of Tribunal in case of ACIT Vs. Torrent Pharmaceuticals Ltd 137 ITD 301 as well as the decision of the Delhi Bench of the Tribunal in case of SIL Investment Ltd. vs. ACIT: 148 TTJ 213 (Del.), wherein the T…

Triveni Engineering & Industries Ltd., Noida vs. ACIT, New Delhi

ITA 1957/DEL/2016[2003-04]Status: DisposedITAT Delhi06 Aug 2020AY 2003-04

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 115JSection 143(1)Section 143(2)Section 14A

…of the expenditure under the said section, the onus is on the Revenue to bring on record nexus between the expenditure and the exempt income. The decision of the Hon’ble Kerala High Court in the case of CIT(A) Vs. Catholic Syrian Bank Ltd and Ors 330 ITR 556/237 CTR 164. The Ld. AR relied upon the decision of the Hon’ble Kerala High Court in case of Catholic Syrian Bank (Supra), the decision of Ahmedabad Bench of Tribunal in case of ACIT Vs. Torrent Pharmaceuticals Ltd 137 ITD 301 as well as the decision of the Delhi Bench of the Tribunal in case of SIL Investment Ltd. vs. ACIT: 148 TTJ 213 (Del.), wherein the T…

Triveni Engineering & Industries Ltd., Noida vs. ACIT, New Delhi

ITA 1956/DEL/2016[2002-03]Status: DisposedITAT Delhi06 Aug 2020AY 2002-03

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 115JSection 143(1)Section 143(2)Section 14A

…of the expenditure under the said section, the onus is on the Revenue to bring on record nexus between the expenditure and the exempt income. The decision of the Hon’ble Kerala High Court in the case of CIT(A) Vs. Catholic Syrian Bank Ltd and Ors 330 ITR 556/237 CTR 164. The Ld. AR relied upon the decision of the Hon’ble Kerala High Court in case of Catholic Syrian Bank (Supra), the decision of Ahmedabad Bench of Tribunal in case of ACIT Vs. Torrent Pharmaceuticals Ltd 137 ITD 301 as well as the decision of the Delhi Bench of the Tribunal in case of SIL Investment Ltd. vs. ACIT: 148 TTJ 213 (Del.), wherein the T…

Triveni Engineering & Industries Ltd., Noida vs. Addl. CIT, New Delhi

ITA 1955/DEL/2016[2001-02]Status: DisposedITAT Delhi06 Aug 2020AY 2001-02

Bench: Shri R. K. Panda & Ms Suchitra Kamble

Section 115JSection 143(1)Section 143(2)Section 14A

…of the expenditure under the said section, the onus is on the Revenue to bring on record nexus between the expenditure and the exempt income. The decision of the Hon’ble Kerala High Court in the case of CIT(A) Vs. Catholic Syrian Bank Ltd and Ors 330 ITR 556/237 CTR 164. The Ld. AR relied upon the decision of the Hon’ble Kerala High Court in case of Catholic Syrian Bank (Supra), the decision of Ahmedabad Bench of Tribunal in case of ACIT Vs. Torrent Pharmaceuticals Ltd 137 ITD 301 as well as the decision of the Delhi Bench of the Tribunal in case of SIL Investment Ltd. vs. ACIT: 148 TTJ 213 (Del.), wherein the T…

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1536/KOL/2016[2012-13]Status: DisposedITAT Kolkata10 Jan 2018AY 2012-13

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate

Section 143(3)Section 14ASection 14A(2)

…o exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur vs. Catholic Syrian Bank Ltd. reported in (2011) 237 CTR 164 (Kerala) wherein it has been held that the Department is entitled to make disallowance of expenditure incurred for earning tax free income in cases where assessee do not maintain separate accounts for the investment and other expenditure incurred for earning tax free income. (c ) Reliance is placed on the ratio of judgment in the case of Dhanuka…

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1535/KOL/2016[2010-11]Status: DisposedITAT Kolkata10 Jan 2018AY 2010-11

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate

Section 143(3)Section 14ASection 14A(2)

…o exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur vs. Catholic Syrian Bank Ltd. reported in (2011) 237 CTR 164 (Kerala) wherein it has been held that the Department is entitled to make disallowance of expenditure incurred for earning tax free income in cases where assessee do not maintain separate accounts for the investment and other expenditure incurred for earning tax free income. (c ) Reliance is placed on the ratio of judgment in the case of Dhanuka…

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1534/KOL/2016[2009-10]Status: DisposedITAT Kolkata10 Jan 2018AY 2009-10

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate

Section 143(3)Section 14ASection 14A(2)

…o exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur vs. Catholic Syrian Bank Ltd. reported in (2011) 237 CTR 164 (Kerala) wherein it has been held that the Department is entitled to make disallowance of expenditure incurred for earning tax free income in cases where assessee do not maintain separate accounts for the investment and other expenditure incurred for earning tax free income. (c ) Reliance is placed on the ratio of judgment in the case of Dhanuka…

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1533/KOL/2016[2008-09]Status: DisposedITAT Kolkata10 Jan 2018AY 2008-09

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate

Section 143(3)Section 14ASection 14A(2)

…o exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur vs. Catholic Syrian Bank Ltd. reported in (2011) 237 CTR 164 (Kerala) wherein it has been held that the Department is entitled to make disallowance of expenditure incurred for earning tax free income in cases where assessee do not maintain separate accounts for the investment and other expenditure incurred for earning tax free income. (c ) Reliance is placed on the ratio of judgment in the case of Dhanuka…

Citicorp Finance P.Ltd, Mumbai vs. Addl CIT RG 10(1), Mumbai

ITA 5731/MUM/2012[2004-05]Status: DisposedITAT Mumbai13 Jul 2016AY 2004-05

…आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण," सी सी ” खंडपीठ खंडपीठ मुंबई मुंबई आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण सी सी खंडपीठ खंडपीठ मुंबई मुंबई INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“C”,BENCH सव"ी जोिग"दर "सह, "याियक सद"य एवं राजे"", लेखा सद"य Before S/Shri Joginder Singh,Judicial Member & Rajendra,Accountant Member आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ITA/ 5731/Mum/2012,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2004-05 वष" Citicorp Finance (I) Limited The Addl. CIT, Range-10(1) 5th Floor, Plot C-61,Bandra Kurla Complex, Aayakar Bhavan, Mumbai. Vs. G-Block,Bandra (E), Mumbai-400…

Addl CIT 10-(1), Mumbai vs. Citicorp Finance (I) Ltd, Mumbai

ITA 5149/MUM/2012[2004-05]Status: DisposedITAT Mumbai13 Jul 2016AY 2004-05

…आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण," सी सी ” खंडपीठ खंडपीठ मुंबई मुंबई आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण सी सी खंडपीठ खंडपीठ मुंबई मुंबई INCOME TAX APPELLATE TRIBUNAL,MUMBAI-“C”,BENCH सव"ी जोिग"दर "सह, "याियक सद"य एवं राजे"", लेखा सद"य Before S/Shri Joginder Singh,Judicial Member & Rajendra,Accountant Member आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं./ITA/ 5731/Mum/2012,िनधा"रण अपील िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2004-05 वष" Citicorp Finance (I) Limited The Addl. CIT, Range-10(1) 5th Floor, Plot C-61,Bandra Kurla Complex, Aayakar Bhavan, Mumbai. Vs. G-Block,Bandra (E), Mumbai-400…

CIT(A) v. Catholic Syrian Bank Ltd and Ors. (237 CTR 164) — Cited in 13 Judgments | BharatTax