CIT v. Corrtech Energy (P.) Ltd.

223 Taxmann 130High Court2014#106 most cited

What is CIT v. Corrtech Energy (P.) Ltd. authority for?

Disallowance under Section 14A read with Rule 8D is not warranted if the assessee has not earned any exempt income in the relevant assessment year.

579

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2014 to 2026.

Also referred to as

CIT v. Corrtech Energy (P.) Ltd. · 372 ITR 97 · Section 14A · Rule 8D · disallowance u/s 14A · no exempt income · exempt income not earned · expenses against exempt income · Gujarat High Court Section 14A · disallowance without exempt income

Also reported as

372 ITR 9745 Taxmann.com 116272 CTR 262

Sections most often in play

Section 14ASection 143(3)Section 1961Section 8DSection 115JBSection 143(2)Section 37(1)Section 250

Issues it is cited on

disallowance under section 14adisallowance u/s 14asection 14asection 36(1)(iii)section 115jbsection 36(1)section 37section 36section 10previous yearscrutiny assessmentassistant commissioner

Judgments citing CIT v. Corrtech Energy (P.) Ltd.

Deputy Commissioner of Income Tax, Circle-2(1), Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, appeal of the Revenue is dismissed

ITA 5/RPR/2020[2016-17]Status: DisposedITAT Raipur22 Oct 2021AY 2016-17

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 5/Rpr/2020) ("नधा"रण वष" / Assessment Year : 2016-17)

For Appellant: Shri Veekaas S Sharma, A.R
Section 145(3)Section 14A

…s not derived any exempt income per se. It is well settled that in the absence of any exempt income, no disallowance under s.14A of the Act is permissible in view of the decision of the Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy P. Ltd. 372 ITR 97 (Guj.). In another judgment in the case of CIT vs. Vision Finstock Ltd. Tax Appeal No. 486 of 2017 dated 31.07.2017 the Hon’ble Gujarat High Court has once again expressed the similar view and held that disallowance of expenditure in terms of Section 14A r.w. Rule 8D cannot exceed the exempt income itself. It is noticed that SLP(Civil) [Diary No.…

Medha Servo Drives Private Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Hyderabad

Appeals are allowed in above terms

ITA 440/HYD/2020[2014-15]Status: DisposedITAT Hyderabad22 Oct 2021AY 2014-15

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri V.Siva Kumar, ARFor Respondent: Shri Y.V.S.T.Sai, CIT-DR
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Appellant Respondent ITA No. A.Y. 438/Hyd/2020 2012-13 Medha Servo Drives DCIT, Pvt. Ltd., Central Circle-1(4), 439/Hyd/2020 2014-15 Hyderabad Hyderabad [PAN: AABCM3917A] 440/Hyd/2020 2014-15 For Assessee : Shri V.Siva Kumar, AR For Revenue : Shri Y.V.S.T.Sai, CIT-DR Date of Hearing : 23-09-2021 Date of Pronouncement : 22-10-2021 O R D E R PER S.S.GODARA, J.M. : These assessee’s three appeals ITA Nos.438, 439 & 440/Hyd/2020 ar…

Medha Servo Drives Private Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Hyderabad

Appeals are allowed in above terms

ITA 439/HYD/2020[2014-15]Status: DisposedITAT Hyderabad22 Oct 2021AY 2014-15

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri V.Siva Kumar, ARFor Respondent: Shri Y.V.S.T.Sai, CIT-DR
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Appellant Respondent ITA No. A.Y. 438/Hyd/2020 2012-13 Medha Servo Drives DCIT, Pvt. Ltd., Central Circle-1(4), 439/Hyd/2020 2014-15 Hyderabad Hyderabad [PAN: AABCM3917A] 440/Hyd/2020 2014-15 For Assessee : Shri V.Siva Kumar, AR For Revenue : Shri Y.V.S.T.Sai, CIT-DR Date of Hearing : 23-09-2021 Date of Pronouncement : 22-10-2021 O R D E R PER S.S.GODARA, J.M. : These assessee’s three appeals ITA Nos.438, 439 & 440/Hyd/2020 ar…

Medha Servo Drives Private Limited, Hyderabad vs. Dy. Commissioner of Income Tax, Central Circle-1(4), Hyderabad

Appeals are allowed in above terms

ITA 438/HYD/2020[2012-13]Status: DisposedITAT Hyderabad22 Oct 2021AY 2012-13

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri V.Siva Kumar, ARFor Respondent: Shri Y.V.S.T.Sai, CIT-DR
Section 115JSection 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Appellant Respondent ITA No. A.Y. 438/Hyd/2020 2012-13 Medha Servo Drives DCIT, Pvt. Ltd., Central Circle-1(4), 439/Hyd/2020 2014-15 Hyderabad Hyderabad [PAN: AABCM3917A] 440/Hyd/2020 2014-15 For Assessee : Shri V.Siva Kumar, AR For Revenue : Shri Y.V.S.T.Sai, CIT-DR Date of Hearing : 23-09-2021 Date of Pronouncement : 22-10-2021 O R D E R PER S.S.GODARA, J.M. : These assessee’s three appeals ITA Nos.438, 439 & 440/Hyd/2020 ar…

D.C.I.T. Central Cricle, Raipur vs. Mahamaya Steel Industries Ltd, Raipur

In the result, appeal of the Revenue is dismissed

ITA 62/RPR/2018[2013-14]Status: DisposedITAT Raipur21 Oct 2021AY 2013-14

Bench: Shri Pradip Kumar Kedia & Shri N. K. Choudhryआयकर अपील सं./I.T.A. No. 62/Rpr/2018) ("नधा"रण वष" / Assessment Year : 2013-14)

For Appellant: Shri Veekaas S Sharma, A.R
Section 14A

…s not derived any exempt income per se. It is well settled that in the absence of any exempt income, no disallowance under s.14A of the Act is permissible in view of the decision of the Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy P. Ltd. 372 ITR 97 (Guj.). In another judgment in the case of CIT vs. Vision Finstock Ltd. Tax Appeal No. 486 of 2017 dated 31.07.2017 the Hon’ble Gujarat High Court has once again expressed the similar view and held that disallowance of expenditure in terms of Section 14A r.w. Rule 8D cannot exceed the exempt income itself. It is noticed that SLP(Civil) [Diary No.…

M/S Goyal Sales Pvt Ltd, Raipur (Cg) vs. The Dy. Commissioner of Income Tax 1(2), Raipur (Cg)

In the result, appeal of the assessee is allowed

ITA 93/BIL/2016[2012-13]Status: DisposedITAT Raipur21 Oct 2021AY 2012-13

Bench: Shri Pradip Kumar Kedia & Shri Pawan Singhassessment Year: 2012-13

For Appellant: Written SubmissionFor Respondent: Shri R.K. Baral, D.R
Section 143(3)Section 14A

…ITA No.93/RPR/2016 A.Y. 2012-13 Page 1 of 4 IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER Assessment Year: 2012-13 M/s Goyal Sales Pvt. Ltd., vs. The Dy. Commissioner of Income Gandhi Chowk, Tax 1(2), Raipur (C.G.). Neora, Raipur (C.G.). [PAN – AACG 8486 D] (Appellant) (Respondent) Appellant by : Written Submission Respondent by : Shri R.K. Baral, D.R. Date of hearing : 11.08.2021 Date of pronouncement : 21.10.2021 O R D E R PER PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER : The captioned appeal has been filed a…

Divyarth Leasing & Finance P.Ltd, New Delhi vs. Prcit, Central Circle-3, New Delhi

In the result, all the appeals of the assessee are allowed

ITA 1184/DEL/2018[2011-12]Status: DisposedITAT Delhi18 Oct 2021AY 2011-12

Bench: Ms. Suchitra Kambledr. B. R. R. Kumar(Through Video Conferencing) Ita No. 1179/Del/2018 : Asstt. Year : 2009-10

For Appellant: Sh. Bipin Ram, AR &For Respondent: Sh. Javed Akhtar, CIT DR
Section 143(3)Section 14ASection 153ASection 263

…& Haryana High Court in the case of CIT vs. M/s. Lakhani Marketing Inc., CIT Vs. Hero Cycles Limited, (323 ITR 518), CIT Vs. Winsome Textile Industries Ltd (319 ITR 204), decision of Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy (P.) Ltd. (223 Taxmann 130) and the decision of Hon’ble Allahabad High Court in CIT vs. Shivam Motors (P) ITA Nos. 1179, 1183 & 1184/Del/2018 6 Divyarth Leasing & Finance Pvt. Ltd. Ltd. wherein it was held that Section 14A cannot be invoked when no exempt income was earned. 11. In the instant case, the ld. PCIT has not disputed the fact that the assessee has not ear…

Divyarth Leasing & Finance P.Ltd, New Delhi vs. Prcit, Central Circle-3, New Delhi

In the result, all the appeals of the assessee are allowed

ITA 1183/DEL/2018[2010-11]Status: DisposedITAT Delhi18 Oct 2021AY 2010-11

Bench: Ms. Suchitra Kambledr. B. R. R. Kumar(Through Video Conferencing) Ita No. 1179/Del/2018 : Asstt. Year : 2009-10

For Appellant: Sh. Bipin Ram, AR &For Respondent: Sh. Javed Akhtar, CIT DR
Section 143(3)Section 14ASection 153ASection 263

…& Haryana High Court in the case of CIT vs. M/s. Lakhani Marketing Inc., CIT Vs. Hero Cycles Limited, (323 ITR 518), CIT Vs. Winsome Textile Industries Ltd (319 ITR 204), decision of Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy (P.) Ltd. (223 Taxmann 130) and the decision of Hon’ble Allahabad High Court in CIT vs. Shivam Motors (P) ITA Nos. 1179, 1183 & 1184/Del/2018 6 Divyarth Leasing & Finance Pvt. Ltd. Ltd. wherein it was held that Section 14A cannot be invoked when no exempt income was earned. 11. In the instant case, the ld. PCIT has not disputed the fact that the assessee has not ear…

Divyarth Leasing & Finance P.Ltd, New Delhi vs. Prcit, Central Circle-3, New Delhi

In the result, all the appeals of the assessee are allowed

ITA 1179/DEL/2018[2009-10]Status: DisposedITAT Delhi18 Oct 2021AY 2009-10

Bench: Ms. Suchitra Kambledr. B. R. R. Kumar(Through Video Conferencing) Ita No. 1179/Del/2018 : Asstt. Year : 2009-10

For Appellant: Sh. Bipin Ram, AR &For Respondent: Sh. Javed Akhtar, CIT DR
Section 143(3)Section 14ASection 153ASection 263

…& Haryana High Court in the case of CIT vs. M/s. Lakhani Marketing Inc., CIT Vs. Hero Cycles Limited, (323 ITR 518), CIT Vs. Winsome Textile Industries Ltd (319 ITR 204), decision of Hon’ble Gujarat High Court in the case of CIT vs. Corrtech Energy (P.) Ltd. (223 Taxmann 130) and the decision of Hon’ble Allahabad High Court in CIT vs. Shivam Motors (P) ITA Nos. 1179, 1183 & 1184/Del/2018 6 Divyarth Leasing & Finance Pvt. Ltd. Ltd. wherein it was held that Section 14A cannot be invoked when no exempt income was earned. 11. In the instant case, the ld. PCIT has not disputed the fact that the assessee has not ear…

Dy. Commissioner of Income Tax, Circle-2(2), Hyderabad vs. Telangana State Power Generation Corporation Limited, Hyderabad

Appeal is dismissed in above terms

ITA 1602/HYD/2019[2016-17]Status: DisposedITAT Hyderabad05 Oct 2021AY 2016-17

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

For Appellant: Shri M.Chandramouleswara Rao, ARFor Respondent: Shri Y.V.S.T.Sai, CIT-DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. No. 1602/HYD/2019 Assessment Year: 2016-17 DCIT, Circle-2(2), M/s.Telangana State Power HYDERABAD Vs Generation Corporation Limited, HYDERABAD [PAN: AAFCT0257Q] (Appellant) (Respondent) For Revenue : Shri Y.V.S.T.Sai, CIT-DR For Assessee : Shri M.Chandramouleswara Rao, AR Date of Hearing : 23-09-2021 Date of Pronouncement : 06-10-2021 O R D E R PER S.S.GODARA, J.M. : This Revenue’s appeal for AY.2016-17 arises from the CIT(A…

Unison Metal Limited, Ahmedabad vs. The Dy. CIT, Circle-4(1)(2), Ahmedabad

In the result, both the appeals of the assessee are partly allowed

ITA 170/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad05 Oct 2021AY 2014-15

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri R.R. Makwana, Sr DR
Section 14A

…reversed by the Hon’ble Delhi High Court. Similarly, in the grounds of appeal, the assessee has pleaded that it has no exempt income; and, in view of the decision of Hon’ble jurisdictional High Court in the case of CIT vs. Corrtech Energy Pvt Ltd, reported in 372 ITR 97, no disallowance should have been made. The investment in the shares has been pleaded by the assessee at Rs.32,000/- in this year. Though it is not verifiable from the findings of any of the authorities below, but, considering the pleadings of the assessee that it has no taxable income, we allow this ground of appeal and delete the disallowance. W…

Unison Metal Limited, Ahmedabad vs. The Dy. CIT, Circle-4(1)(2), Ahmedabad

In the result, both the appeals of the assessee are partly allowed

ITA 169/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad05 Oct 2021AY 2013-14

Bench: Shri Rajpal Yadav & Shri Waseem Ahmed

For Appellant: NoneFor Respondent: Shri R.R. Makwana, Sr DR
Section 14A

…reversed by the Hon’ble Delhi High Court. Similarly, in the grounds of appeal, the assessee has pleaded that it has no exempt income; and, in view of the decision of Hon’ble jurisdictional High Court in the case of CIT vs. Corrtech Energy Pvt Ltd, reported in 372 ITR 97, no disallowance should have been made. The investment in the shares has been pleaded by the assessee at Rs.32,000/- in this year. Though it is not verifiable from the findings of any of the authorities below, but, considering the pleadings of the assessee that it has no taxable income, we allow this ground of appeal and delete the disallowance. W…

M/S Kanade Aqua Farms Pvt Ltd, Mumbai vs. ITO 6 (3)(3), Mumbai

Accordingly, the Ground of appeal No. 1 is dismissed

ITA 151/MUM/2020[2014-15]Status: DisposedITAT Mumbai20 Sept 2021AY 2014-15

Bench: Shri Shamim Yahya () & Shri Ravish Sood () M/S Kanade Aqua Farms Income Tax Officer- Pvt. Ltd., 3/21, Poddar Vs. 6(3)(3), Building No. 2, Dr. Room No. 524, 5Th Floor, Maisheri Road, Near Aaykar Bhavan, Sandhurst Road Railway M.K. Marg, Station, Mumbai– 400009 Mumbai - 400020 Pan No. Aaack0421C (Assessee) (Revenue) Assessee By : Ms.Vinita Shah, A.R Revenue By : Shri Neeraj Kumar, D.R Date Of Hearing : 08/09/2021 Date Of Pronouncement : 20/09/2021 Order Per Ravish Sood, J.M: The Present Appeal Filed By The Assessee Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals)-12, Mumbai (For Short „Cit(A)‟), Dated 03.10.2019, Which In Turn Arises From The Order Passed By The A.O. U/S 143(3) Of The Income Tax Act, 1961 (For Short „Act‟) Dated 13.11.2016 . 2. The Assessee Has Assailed The Impugned Order On The Following Grounds Of Appeal Before Us: 1. “On The Facts & Circumstances Of The Case As Well As In Law, The Learned Cit(A) Has Erred In Confirming The Action Of Learned Assessing Officer In Disallowing The Clearing Expenses Of Rs.

For Appellant: Ms.Vinita Shah, A.RFor Respondent: Shri Neeraj Kumar, D.R
Section 143(2)Section 143(3)Section 14ASection 194CSection 40

…ITA No. 151/Mum/2020 A.Y. 2014-15 1 M/s Kanade Aqua Farms Pvt. Ltd. Vs. ITO 6(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H” MUMBAI BEFORE SHRI SHAMIM YAHYA (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) M/s Kanade Aqua Farms Income Tax Officer- Pvt. Ltd., 3/21, Poddar Vs. 6(3)(3), Building No. 2, Dr. Room No. 524, 5th Floor, Maisheri Road, Near Aaykar Bhavan, Sandhurst Road Railway M.K. Marg, Station, Mumbai– 400009 Mumbai - 400020 PAN No. AAACK0421C (Assessee) (Revenue) Assessee by : Ms.Vinita Shah, A.R Revenue by : Shri Neeraj Kumar, D.R Date of Hearing : 08/09/2021 Date of prono…

ACIT 14(2)(1), Mumbai vs. Maharashtra State Power Generation Company Ltd, Mumbai

ITA 1394/MUM/2015[2010-11]Status: DisposedITAT Mumbai20 Sept 2021AY 2010-11

Bench: Shri Rajesh Kumar () & Shri Ravish Sood () Acit-14(2)(1), M/S Maharashtra State Power Room No. 432, 4Th Floor Vs. Generation Company Ltd. Aayakar Bhavan, Plot No. G-9, Prakashgad, 2Nd Mumbai – 400 020 Floor, Anant Kanekar Marg, Station Road, Bandra (East), Mumbai – 400 051 Pan No. Aaecm2935R (Revenue) (Assessee) Assessee By : Shri Ketan Ved, A.R Revenue By : Shri Rahul Raman, D.R Date Of Hearing : 28/07/2021 Date Of Pronouncement : 20/09/2021

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Rahul Raman, D.R
Section 115JSection 143(2)Section 143(3)(ii)Section 145Section 14ASection 201(1)Section 40Section 40(1)(ia)

…ITA No.1394/Mum/2015 A.Y. 2010-11 1 ACIT -14(2)(1) Vs. M/s Maharashtra State Power Generation Com. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B” MUMBAI BEFORE SHRI RAJESH KUMAR (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ACIT-14(2)(1), M/s Maharashtra State Power Room No. 432, 4th Floor Vs. Generation Company Ltd. Aayakar Bhavan, Plot No. G-9, Prakashgad, 2nd Mumbai – 400 020 Floor, Anant Kanekar Marg, Station Road, Bandra (East), Mumbai – 400 051 PAN No. AAECM2935R (Revenue) (Assessee) Assessee by : Shri Ketan Ved, A.R Revenue by : Shri Rahul Raman, D.R Date of Hearing : 28/07/2…

Andhra Pradesh Power Generation Corporation Limited, Hyderabad vs. DCIT, Circle-1(1), Hyderabad

Appeals are partly allowed for statistical purposes therefore

ITA 1656/HYD/2016[2011-12]Status: DisposedITAT Hyderabad17 Sept 2021AY 2011-12

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Sri M. Chandramouleswara RaoFor Respondent: Sri Y.V.S.T. Sai, DR
Section 143(3)Section 14A

…the impugned assessment year that the assessee has not declared any exempt income which could trigger application of Sec.14A r.w. Rule 8D of the I.T. Rules in light of case law Chemnivest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), CIT Vs. Corrtech Energy Pvt. Ltd. 223 Taxmann.com 130 (Guj) and CIT Vs. CIT Vs. Chettinad Logistics Pvt. Limited (2017) 80 taxmann.com 221 (Madras). The Revenue’s stand on the other hand is that this clinching aspect has nowhere been seen raised or considered either in assessment or in the CIT(A)’s order. 3. Faced with this situation, we deem it appropriate to restore the instant first comm…

DCIT, Circle-1(1), Hyderabad vs. Andhra Pradesh Power Generation Corporation Limited, Hyderabad

Appeals are partly allowed for statistical purposes therefore

ITA 1608/HYD/2016[2013-14]Status: DisposedITAT Hyderabad17 Sept 2021AY 2013-14

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Sri M. Chandramouleswara RaoFor Respondent: Sri Y.V.S.T. Sai, DR
Section 143(3)Section 14A

…the impugned assessment year that the assessee has not declared any exempt income which could trigger application of Sec.14A r.w. Rule 8D of the I.T. Rules in light of case law Chemnivest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), CIT Vs. Corrtech Energy Pvt. Ltd. 223 Taxmann.com 130 (Guj) and CIT Vs. CIT Vs. Chettinad Logistics Pvt. Limited (2017) 80 taxmann.com 221 (Madras). The Revenue’s stand on the other hand is that this clinching aspect has nowhere been seen raised or considered either in assessment or in the CIT(A)’s order. 3. Faced with this situation, we deem it appropriate to restore the instant first comm…

DCIT, Circle-1(1), Hyderabad vs. Andhra Pradesh Power Generation Corporation Limited, Hyderabad

Appeals are partly allowed for statistical purposes therefore

ITA 1607/HYD/2016[2012-13]Status: DisposedITAT Hyderabad17 Sept 2021AY 2012-13

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Sri M. Chandramouleswara RaoFor Respondent: Sri Y.V.S.T. Sai, DR
Section 143(3)Section 14A

…the impugned assessment year that the assessee has not declared any exempt income which could trigger application of Sec.14A r.w. Rule 8D of the I.T. Rules in light of case law Chemnivest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), CIT Vs. Corrtech Energy Pvt. Ltd. 223 Taxmann.com 130 (Guj) and CIT Vs. CIT Vs. Chettinad Logistics Pvt. Limited (2017) 80 taxmann.com 221 (Madras). The Revenue’s stand on the other hand is that this clinching aspect has nowhere been seen raised or considered either in assessment or in the CIT(A)’s order. 3. Faced with this situation, we deem it appropriate to restore the instant first comm…

DCIT, Circle-1(1), Hyderabad vs. Andhra Pradesh Power Generation Corporation Limited, Hyderabad

Appeals are partly allowed for statistical purposes therefore

ITA 1606/HYD/2016[2011-12]Status: DisposedITAT Hyderabad17 Sept 2021AY 2011-12

Bench: Shri S.S. Godara & Shri Laxmi Prasad Sahu

For Appellant: Sri M. Chandramouleswara RaoFor Respondent: Sri Y.V.S.T. Sai, DR
Section 143(3)Section 14A

…the impugned assessment year that the assessee has not declared any exempt income which could trigger application of Sec.14A r.w. Rule 8D of the I.T. Rules in light of case law Chemnivest Ltd. Vs. CIT (2015) 378 ITR 33 (Del), CIT Vs. Corrtech Energy Pvt. Ltd. 223 Taxmann.com 130 (Guj) and CIT Vs. CIT Vs. Chettinad Logistics Pvt. Limited (2017) 80 taxmann.com 221 (Madras). The Revenue’s stand on the other hand is that this clinching aspect has nowhere been seen raised or considered either in assessment or in the CIT(A)’s order. 3. Faced with this situation, we deem it appropriate to restore the instant first comm…

International Cargo Terminals and Infrastructure Pvt Ltd, Mumbai vs. Dy CIT CC 6(4), Mumbai

Accordingly, in terms of our aforesaid observations, the appeal filed by the revenue is dismissed

ITA 6974/MUM/2019[2016-17]Status: DisposedITAT Mumbai07 Sept 2021AY 2016-17

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood () The Dcit, Central Circle-6(4), M/S International Cargo Room No. 1925, 19Th Floor, Air Vs. Terminals & Infrastructure India Building, Nariman Point, Private Limited, Unit No.801, Mumbai – 400 021 Godrej Coliseum, C-Wing, Off Somaiya Hospital Road, Sion (East), Mumbai 400 022 Pan No. Aaacu5182C (Revenue) (Assessee) M/S International Cargo The Dcit, Central Circle-6(4), Terminals & Infrastructure Vs. Room No. 1925, 19Th Floor, Air Private Limited, Unit No.801, India Building, Nariman Point, Godrej Coliseum, C-Wing, Mumbai – 400 021 Off Somaiya Hospital Road, Sion (East),Mumbai 400 022

For Appellant: Shri Y.P. Trivedi, A.RFor Respondent: Ms. Shreekala Pardeshi, D.R
Section 143(3)Section 14A

…ITA Nos. 6892 & 6974/Mum/2019 A.Y. 2016-17 1 The DCIT, Central Circle-6(4) Vs. M/s International Cargo Terminals & Infrastructure P. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI S.RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) The DCIT, Central Circle-6(4), M/s International Cargo Room No. 1925, 19th Floor, Air Vs. Terminals & Infrastructure India Building, Nariman Point, Private Limited, Unit No.801, Mumbai – 400 021 Godrej Coliseum, C-Wing, Off Somaiya Hospital Road, Sion (East), Mumbai 400 022 PAN No. AAACU5182C (Revenue) (Assessee) M/s Internatio…

Dy CIT CC 6 (4), Mumbai vs. M/S International Cargo Terminals & Infrastructure Pvt Ltd., Mumbai

Accordingly, in terms of our aforesaid observations, the appeal filed by the revenue is dismissed

ITA 6892/MUM/2019[2016-17]Status: DisposedITAT Mumbai07 Sept 2021AY 2016-17

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood () The Dcit, Central Circle-6(4), M/S International Cargo Room No. 1925, 19Th Floor, Air Vs. Terminals & Infrastructure India Building, Nariman Point, Private Limited, Unit No.801, Mumbai – 400 021 Godrej Coliseum, C-Wing, Off Somaiya Hospital Road, Sion (East), Mumbai 400 022 Pan No. Aaacu5182C (Revenue) (Assessee) M/S International Cargo The Dcit, Central Circle-6(4), Terminals & Infrastructure Vs. Room No. 1925, 19Th Floor, Air Private Limited, Unit No.801, India Building, Nariman Point, Godrej Coliseum, C-Wing, Mumbai – 400 021 Off Somaiya Hospital Road, Sion (East),Mumbai 400 022

For Appellant: Shri Y.P. Trivedi, A.RFor Respondent: Ms. Shreekala Pardeshi, D.R
Section 143(3)Section 14A

…ITA Nos. 6892 & 6974/Mum/2019 A.Y. 2016-17 1 The DCIT, Central Circle-6(4) Vs. M/s International Cargo Terminals & Infrastructure P. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI S.RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) The DCIT, Central Circle-6(4), M/s International Cargo Room No. 1925, 19th Floor, Air Vs. Terminals & Infrastructure India Building, Nariman Point, Private Limited, Unit No.801, Mumbai – 400 021 Godrej Coliseum, C-Wing, Off Somaiya Hospital Road, Sion (East), Mumbai 400 022 PAN No. AAACU5182C (Revenue) (Assessee) M/s Internatio…