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.

M/S Chandigarh Distillers & Bottlers Pvt. Ltd., Chandigarh vs. DCIT, Ludhiana

In the result both the appeals of the assessee are hereby

ITA 778/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh20 Jun 2018AY 2012-13

Bench: Shri Sanjay Garg & Ms.Annapurna Gupta

For Appellant: Shri Sudhir Sehgal, AdvFor Respondent: Smt.Chanderkanta, Addl.CIT
Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS.ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA Nos.778 & 779/Chd/2017 (Assessment Year : 2012-13 & 2013-14) M/s Chandigarh Distillers Vs. The D.C.I.T., Bottlers Pvt. Ltd. Central Circle II, SCO 140-141, Ludhiana. Sector 34-A, Chandigarh, PAN No. AABCC3752B (Appellant) (Respondent) Appellant by : Shri Sudhir Sehgal, Adv. Respondent by : Smt.Chanderkanta, Addl.CIT Date of hearing :19.03.2018 Date of Pronouncement :20.06.2018 ORDER Per Sanjay Garg, Judicial Member : The captioned appeals have been prefer…

ACIT, Panchkula Circle, Panchkula vs. M/S Ipf Vikram India Ltd., Panchkula

In the result the appeal of the Revenue is hereby

ITA 1246/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh15 Jun 2018AY 2013-14

Bench: Shri Sanjay Garg & Shri B.R.R. Kumarthe A.C.I.T., Vs. M/S Ipf Vikram India Ltd., Panchkula Circle, Plot No.380, Ph-I, Indl. Area, Panchkula. Panchkula. Pan: Aaaci3719F (Appellant) (Respondent)

For Appellant: Shri J.S. Kahlon, Sr. DRFor Respondent: Shri Tej Mohan Singh, Adv
Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI B.R.R. KUMAR, ACCOUNTANT MEMBER The A.C.I.T., Vs. M/s IPF Vikram India Ltd., Panchkula Circle, Plot No.380, Ph-I, Indl. Area, Panchkula. Panchkula. PAN: AAACI3719F (Appellant) (Respondent) Appellant by : Shri J.S. Kahlon, Sr. DR Respondent by : Shri Tej Mohan Singh, Adv. Date of hearing :13.04.2018 Date of Pronouncement :15.06.2018 ORDER Per Sanjay Garg, Judicial Member : This appeal has been preferred by the assessee against the order of Ld. Commissioner of Income Tax (Appeals), Panchkula (…

M/S White Stone Yarns Pvt. Ltd., Ludhiana vs. ITO, W-7(2), Ludhiana

In the result the appeal of the Revenue is hereby

ITA 1072/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh15 Jun 2018AY 2012-13

Bench: Shri Sanjay Garg & Ms.Annapurna Guptam/S White Stone Yarns Pvt. Ltd., Vs. The Income Tax Officer, 23, Ashok Vihar, Rishi Nagar, Ward 7(2), Ludhiana. Ludhiana. Pan: Aaacw4476B (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Smt.Chanderkanta, Addl.CIT
Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘B’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND MS.ANNAPURNA GUPTA, ACCOUNTANT MEMBER M/s White Stone Yarns Pvt. Ltd., Vs. The Income Tax Officer, 23, Ashok Vihar, Rishi Nagar, Ward 7(2), Ludhiana. Ludhiana. PAN: AAACW4476B (Appellant) (Respondent) Appellant by : None Respondent by : Smt.Chanderkanta, Addl.CIT Date of hearing :23.03.2018 Date of Pronouncement :15.06.2018 ORDER Per Sanjay Garg, Judicial Member : This appeal has been preferred by the assessee against the order of Ld. Commissioner of Income Tax (Appeals)-4, Ludhiana (hereinafter…

ITO 9(2)(1), Mumbai vs. Baruki Socks & Hosiery P.Ltd, Mumbai

ITA 1131/MUM/2016[2012-13]Status: DisposedITAT Mumbai12 Jun 2018AY 2012-13

Bench: S/Sh. Rajendra & C. .N. Prasadआयकर अपील अपील संसंसंसं./I.T.A./1131/Mum/2016, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2012-13 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Income Tax Officer – 9(2)(1) M/S. Baruki Socks & Hosiery Pvt. Ld. Room No.601A, 6Th Floor, 412, Dilkap Chambers, Aayakar Bhavan, M. K . Road, Vs. Off New Link Road, Andheri West, Mumbai – 400 020 Mumbai - 400055 Pan:Aadcb0341D (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Saurabh Deshpande-Dr Assessee By: None सुनवाई क" तारीख / Date Of Hearing: 12/06/2018 घोषणा क" तारीख / Date Of Pronouncement: 12/06/2018 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश 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 30.12.2015, Of Cit(A)-16, Mumbai The Assessing Officer (Ao) Has Filed The Present Appeal. Assessee-Company Engaged In The Business Of Shares & Securities Filed Its Return Of Income, On 28.09.2012, Declaring Total Income Of Rs.13,857/-. The Ao Completed The Assessment On 07.10.2014, U/S.143(3) Of The Act,Determining Its Income At Rs.68.25 Lacs.

For Appellant: NoneFor Respondent: Saurabh Deshpande-DR
Section 143(3)Section 14ASection 254(1)

…आयकर अपीलीय अपीलीय अिधकरण अिधकरण, मुंबई मुंबई “बी बी” खंडपीठ खंडपीठ आयकर आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण मुंबई मुंबई बी बी खंडपीठ खंडपीठ Income-tax Appellate Tribunal “B”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/Sh. Rajendra, Accountant Member & C. .N. Prasad, Judicial Member आयकर अपील अपील संसंसंसं./I.T.A./1131/Mum/2016, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2012-13 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Income T…

Hi Choice Processors Pvt.Ltd., Surat vs. The Dy. CIT, Circle-1, Surat

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

ITA 2922/AHD/2015[2011-12]Status: DisposedITAT Surat05 Jun 2018AY 2011-12

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.2922/Ahd/2015/Srt िनधा"रण वष"/A.Y.:2011-12 M/S. Hi Choice Processors Pvt. Vs. Deputy Commissioner Of Ltd. , 264 Gidc, Sachin Surat Income-Tax, Central Pan: Aaach 7062E Circle1, Surat अपीलाथ" Appellant ""यथ"/Respondent

Section 143Section 14A

…Hi Choice Processors Pvt. Ltd. v. DCIT-Cen-1 Surat /I.T.A. No.2922 /Ahd/2015/SRT/A.Y.11-12 Page 1 of 6 आयकर अपीलीय अिधकरण,सुरत "यायपीठ, सु-रत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT "ी सी.एम.गग", "याियक सद"य तथा "ी ओ.पी.मीना, लेखा सद"य के सम" BEFORE SHRI C.M.GARG, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A No.2922/Ahd/2015/SRT िनधा"रण वष"/A.Y.:2011-12 M/s. Hi choice Processors Pvt. Vs. Deputy Commissioner of Ltd. , 264 GIDC, Sachin Surat Income-Tax, Central PAN: AAACH 7062E Circle1, Surat अपीलाथ" Appellant ""यथ"/Respondent Shri Rasesh Shah, CA िनधा"रती क" ओर से /Assessee…

The ACIT, Central-1, Indore vs. M/S. Arihant Capital Markets Ltd., Indore

In the result, the appeal of the revenue and cross objection of

ITA 370/IND/2017[2013-14]Status: DisposedITAT Indore31 May 2018AY 2013-14

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

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

…ITA No. 370/Ind/2017 &CO 17/2018 M/s Arihant Capital IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER Assessment Year: 2013-14 ACIT Circle 1, Indore ::: Appellant Vs M/s Arihant Capital Markets Ltd. Indore ::: Respondent C.O. No. 17/Ind/2018 Arising out of ITA No. 370/Ind2017 M/s Arihant Capital Markets Ltd. Indore ::: Objector Vs ACIT Central 1 Indore ::: Respondent Revenue by Shri K.G. Goyal Assessee by Shri Ajay Tulsiyan & Shri Kapil Shah Date of Hearing 18.5.2018 Date of Pronouncement 31.5.2018 ORDER PER MANISH…

Ideal Toll & Infrastructure P.Ltd, Mumbai vs. DCIT 6(1), Mumbai

In the result, the appeal of the assessee is treated as allowed

ITA 7758/MUM/2014[2010-11]Status: DisposedITAT Mumbai25 May 2018AY 2010-11

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 14ASection 36(1)(iii)

…el/2014 two earlier decisions of the same in CIT v. Hero Cycles Limited[2010] 323 ITR 518 and CIT v. Winsome Textile Industries Ltd.[2009] 319 ITR 204. The second was of the Gujarat High Court in Commissioner of Income Tax-I v. Corrtech Energy (P) Ltd. [2014] 223 Taxmann 130 (Guj.) and the third of the Allahabad High Court in Commissioner of Income Tax, Kanpur v. Shivam Motors (P) Ltd. (decision dated 5th May 2014 in ITA No. 88/2014). These three decisions reiterated the position that when an Assessee had not earned any taxable income in the relevant AY in question "corresponding expenditure could not be worked o…

DCIT 1(1)(1), Mumbai vs. Aegis Logistics P.Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 1945/MUM/2016[2011-12]Status: DisposedITAT Mumbai23 May 2018AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1945/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) Dcit-1(1)(1) बिधम/ M/S. Aegis Logistics Ltd. 579, Aayakar Bhawan, M.K. 40, Peninsula Chambers, Vs. Peninsula Corporate Park, Road, Mumbai-400020 G.K. Marg, Lower Parel, Mumbai-400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaca3302N (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Ram Tiwari (Sr. Ar) Assessee By: Shri Ketan Ved सुनवाई की तारीख / Date Of Hearing: 18.05.2018 घोषणा की तारीख /Date Of Pronouncement: 23.05.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 22.12.2015 Passed By The Commissioner Of Income Tax (Appeals)-2, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The Ay. 2011-12. 2. The Revenue Has Raised The Following Grounds: - “1.Whether On Facts & In Circumstances Of The Case & In Law, The Ld. Cit(A) Was Correct In Stating That The Interest Portion Of Rs.6,32,96,027/- Be Not Considered In Computing Disallowance U/S 14A R.W. Rule 8D2(Ii).

For Appellant: Shri Ketan VedFor Respondent: Shri Ram Tiwari (Sr. AR)
Section 10Section 143(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.1945/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) DCIT-1(1)(1) बिधम/ M/s. Aegis Logistics Ltd. 579, Aayakar Bhawan, M.K. 40, Peninsula Chambers, Vs. peninsula Corporate Park, Road, Mumbai-400020 G.K. Marg, Lower Parel, Mumbai-400013 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACA3302N (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue by: Shri Ram Tiwari (Sr. AR) Assessee by: Shri Ketan Ved सुनवाई की तारीख / Date of Hearing: 18.05.2018 घोषणा की तारीख /Date of Pronoun…

DCIT, Circle-2, Kolkata vs. M/S. Infinity Infotech Parks Ltd, Kolkata

In the result, the appeal of revenue is dismissed

ITA 1317/KOL/2012[2009-10]Status: DisposedITAT Kolkata14 May 2018AY 2009-10

Bench: "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/And "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, Am & Shri A. T. Varkey, Jm]

Section 14A

…Infinity Infotech Parks Ltd., AY 2009-10 आयकर अपील"य अधीकरण, "यायपीठ – “C” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA (सम")Before "ी जे. सुधाकर रे"डी, लेखा सद"य एवं/and "ी ऐ. ट". वक", "यायीक सद"य) [Before Shri J. Sudhakar Reddy, AM & Shri A. T. Varkey, JM] I.T.A. No. 1317/Kol/2012 Assessment Year: 2009-10 Deputy Commissioner of Income-tax, Vs. M/s. Infinity Infotech Parks Ltd. Circle-2, Kolkata (PAN: AABCI0692J) Appellant Respondent Date of Hearing 13.02.2018 Date of Pronouncement 14.05.2018 For the Appellant Shri Saurabh Kumar, Addl. CIT, Sr. DR For the Respondent Shri D. S. Damle, A…

Ethio Plastics Pvt. Ltd., Baroda vs. The Asstt. Commissioner of Income Tax, Circle-1(1)(2), Baroda

In the result, the appeal of the assessee is allowed

ITA 1854/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad10 May 2018AY 2012-13
For Appellant: Ms. Urvashi Shodhan, A.RFor Respondent: Shri Saurabh Singh, Sr. D.R
Section 143(3)Section 14ASection 234ASection 271

…missions that no disallowance deserves to be made u/s 14A of the Act in absence of any exempt income claimed by the appellant. Ld. CIT (A) ought to have deleted disallowance u/s 14A of the Act as held by jurisdictional High Court in Corrtech Energy Pvt. Ltd. (372 ITR 97). I.T.A No. 1854/Ahd/2016 A.Y. 2012-13 Page No 2 Ethio Plastic Pvt. Ltd. vs. ACIT 3. Ld. CIT (A) further erred in law and on facts in following appellate order of A Y 2010-11 for confirming disallowance holding that appellant failed to show that shares were held as stock in trade. Ld. CIT (A) ought to have deleted disallowance when audited accou…

Dciat 14(3)(2), Mumbai vs. Sundaram Multipap Ltd, Mumbai

In the result, the appeal of the revenue is dismissed and the cross objection filed by the assessee is allowed

ITA 5327/MUM/2015[2012-13]Status: DisposedITAT Mumbai20 Apr 2018AY 2012-13

Bench: Shri B.R. Baskaran (Am)& Shri Pawan Singh (Jm)

Section 14A

…rpur Industries Limited [ITA No. 51 of 2016 (Bombay High Court)] 2. M/s Redington India Ltd v. Addl. CIT [392 ITR 633 (Mad)] 3. Cheminvest Ltd. v. CIT [281 CTR 447 (Del)] 4. CIT v. Shivam Motors (P) Ltd. [272 CTR 277 (All)] 5. CIT v. Corrtech Energy (P) Ltd. [272 CTR 262 (Guj)] 6. CIT v. Lakhani Marketing Incl. [272 CTR 265 (P&H)] 7. CIT v. Holcim India (P) Ltd, [272 CTR 282 (Del)] 8. CIT v. Winsome Textile Industries Ltd. (319 ITR 204 P&H) 9. CIT v. Delite Enterprises [ITA No. 110 of 2009 (Bombay High Court)] 13. He submitted that an identical issue was considered by Hon'ble Hon'ble Jurisdictional Bombay High C…

M/S. Delhi International Airport Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, appealsof the assessee are partly allowed

ITA 636/BANG/2017[2011-12]Status: DisposedITAT Bangalore19 Apr 2018AY 2011-12

Bench: Shri Sunil Kumar Yadavand Shri. Jason P Boaz

For Appellant: Shri. Sunil Jain, CAFor Respondent: Smt. Vandana Sagar
Section 143(3)Section 14ASection 153ASection 194HSection 32Section 40

…rn referred to two earlier decisions of the same court in CIT v. Hero Cycles Ltd. [2010] 323 ITR 518 (P&H) and CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 (P&H). The second was of the Gujarat High Court in CIT v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj) ; [2015] 372 ITR 97 (Guj) and the third of the Allahabad High Court in CIT v. Shivam Motors (P) Ltd. (decision dated 5th May, 2014, in I. T. A. No. 88 of 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question "corresponding expenditure coul…

M/S. Delhi International Airport Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, appealsof the assessee are partly allowed

ITA 622/BANG/2017[2012-13]Status: DisposedITAT Bangalore19 Apr 2018AY 2012-13

Bench: Shri Sunil Kumar Yadavand Shri. Jason P Boaz

For Appellant: Shri. Sunil Jain, CAFor Respondent: Smt. Vandana Sagar
Section 143(3)Section 14ASection 153ASection 194HSection 32Section 40

…rn referred to two earlier decisions of the same court in CIT v. Hero Cycles Ltd. [2010] 323 ITR 518 (P&H) and CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 (P&H). The second was of the Gujarat High Court in CIT v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj) ; [2015] 372 ITR 97 (Guj) and the third of the Allahabad High Court in CIT v. Shivam Motors (P) Ltd. (decision dated 5th May, 2014, in I. T. A. No. 88 of 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question "corresponding expenditure coul…

M/S. Delhi International Airport Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, appealsof the assessee are partly allowed

ITA 596/BANG/2017[2013-14]Status: DisposedITAT Bangalore19 Apr 2018AY 2013-14

Bench: Shri Sunil Kumar Yadavand Shri. Jason P Boaz

For Appellant: Shri. Sunil Jain, CAFor Respondent: Smt. Vandana Sagar
Section 143(3)Section 14ASection 153ASection 194HSection 32Section 40

…rn referred to two earlier decisions of the same court in CIT v. Hero Cycles Ltd. [2010] 323 ITR 518 (P&H) and CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 (P&H). The second was of the Gujarat High Court in CIT v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj) ; [2015] 372 ITR 97 (Guj) and the third of the Allahabad High Court in CIT v. Shivam Motors (P) Ltd. (decision dated 5th May, 2014, in I. T. A. No. 88 of 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question "corresponding expenditure coul…

M/S Delhi International Airport Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, appealsof the assessee are partly allowed

ITA 581/BANG/2017[2007-08]Status: DisposedITAT Bangalore19 Apr 2018AY 2007-08

Bench: Shri Sunil Kumar Yadavand Shri. Jason P Boaz

For Appellant: Shri. Sunil Jain, CAFor Respondent: Smt. Vandana Sagar
Section 143(3)Section 14ASection 153ASection 194HSection 32Section 40

…rn referred to two earlier decisions of the same court in CIT v. Hero Cycles Ltd. [2010] 323 ITR 518 (P&H) and CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 (P&H). The second was of the Gujarat High Court in CIT v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj) ; [2015] 372 ITR 97 (Guj) and the third of the Allahabad High Court in CIT v. Shivam Motors (P) Ltd. (decision dated 5th May, 2014, in I. T. A. No. 88 of 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question "corresponding expenditure coul…

ACIT, C-5(1), Chandigarh vs. M/S Indrason Precision Engineering (P) Ltd., Chandigarh

ITA 1653/CHANDI/2017[2014-15]Status: DisposedITAT Chandigarh18 Apr 2018AY 2014-15

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

For Appellant: Shri K.S. Bains, Addl CITFor Respondent: Sh. Tej Mohan Singh, Advocate
Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & Ms. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA Nos.1652 & 1653/Chd/2017 Assessment Years: 2013-14 & 2014-15 The ACIT, Circle 5(1), Vs. M/s Indrason Precision Engineering Chandigarh Private Limited, SCO 604, Ist Floor, Keshoram Complex, Sector 45-C. Chandigarh PAN No. AAACB5917E (Appellant) (Respondent) Appellant By : Shri K.S. Bains, Addl CIT Respondent By : Sh. Tej Mohan Singh, Advocate Date of hearing : 18.04.2018 Date of Pronouncement : 18.04.2018 ORDER Per Sanjay Garg, Judicial Member:…

ACIT, C-5(1), Chandigarh vs. M/S Indrason Precision Engineering (P) Ltd., Chandigarh

ITA 1652/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh18 Apr 2018AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

For Appellant: Shri K.S. Bains, Addl CITFor Respondent: Sh. Tej Mohan Singh, Advocate
Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES ‘A’, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & Ms. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA Nos.1652 & 1653/Chd/2017 Assessment Years: 2013-14 & 2014-15 The ACIT, Circle 5(1), Vs. M/s Indrason Precision Engineering Chandigarh Private Limited, SCO 604, Ist Floor, Keshoram Complex, Sector 45-C. Chandigarh PAN No. AAACB5917E (Appellant) (Respondent) Appellant By : Shri K.S. Bains, Addl CIT Respondent By : Sh. Tej Mohan Singh, Advocate Date of hearing : 18.04.2018 Date of Pronouncement : 18.04.2018 ORDER Per Sanjay Garg, Judicial Member:…

DCIT, Circle-1(1), Kolkata vs. M/S Kamarhatty Company Ltd., Kolkata

In the result, appeal of Revenue (in Ground No

ITA 2080/KOL/2016[2011-12]Status: DisposedITAT Kolkata28 Mar 2018AY 2011-12

Bench: Shri Aby T. Varkey & Dr.A.L. Sainiassessment Year :2011-12

Section 139(1)Section 143(3)Section 14ASection 36(1)(va)

…आयकर अपील"य अधीकरण, "यायपीठ – “D” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D” KOLKATA Before Shri Aby T. Varkey, Judicial Member and Dr.A.L. Saini, Accountant Member Assessment Year :2011-12 DCIT, Circle-1(1), V/s. M/s Kamarhatty Co. Ltd. 16A, Brabourne Road, 8th P-7, Chowringhee Square, R.No.20, 7th Floor, Kolkata-700 001 Floor, Kolkata-69 [PAN No.AABCK 2916 K] अपीलाथ" /Appellant ""यथ"/Respondent .. अपीलाथ" क" ओर से/By Appellant Arindam Bhattacherjee, Addl. CIT-DR ""यथ" क" ओर से/By Respondent Shri Manish Tiwari, FCA सुनवाई क" तार"ख/Date of Hearing 06-03-2018 घोषणा क" तार"ख/Date of Pronounc…

ITO, Ward-3(4), Hyd, Hyderabad vs. Suryajyoti Infotech Ltd, Sec'Bad, Secunderabad

In the result, the ground of appeal

ITA 1278/HYD/2015[2011-12]Status: DisposedITAT Hyderabad15 Mar 2018AY 2011-12

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2011-12 Suryajyoti Infotech Limited, Vs. Income Tax Officer, Ward Secunderabad. – 3(2), Hyderabad. Pan – Aaecs6875J (Appellant) (Respondent) Assessment Year: 2011-12 Income Tax Officer, Ward – Vs. Suryajyothi Infotech 3(4), Hyderabad. Limited, Secunderabad. Pan – Aaecs6875J (Respondent) (Appellant) Assessee By : Shri V. Siva Kumar Smt N. Swapna Revenue By : Date Of Hearing : 05-03-2018 Date Of Pronouncement : 16-03-2018 Order Per P. Madhavi Devi, J.M.: Both Are Cross Appeals For The A.Y 2011-12, Filed By The Assessee As Well As The Revenue Against The Order Of The Cit(A)-3, Hyderabad Dated 05.08.2015. 2. Brief Facts Of The Case Are That, The Assessee Company, Engaged In The Business Of Development & Maintenance Of Computer Software, Filed Its Return Of Income For The A.Y Suryajyothi Infotech Ltd., Secunderabad. 2011-12 On 29.09.2011, Admitting A Total Income Of Rs. 1,01,412/- After Claiming An Exemption Of Rs. 77,99,926/- U/S 10A Of The It Act. During The Course Of Assessment Proceedings U/S 143(3) Of The It Act, The Assessee Was Required To File Certain Details. After Verifying The Books Of Accounts & The Information Filed By The Assessee, The A.O Proposed To Make:

For Appellant: Shri V. Siva KumarFor Respondent: Date of hearing
Section 10ASection 143(3)Section 14ASection 195Section 36(1)(iii)Section 40

…THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “B”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2011-12 Suryajyoti Infotech Limited, vs. Income Tax Officer, Ward Secunderabad. – 3(2), Hyderabad. PAN – AAECS6875J (Appellant) (Respondent) Assessment Year: 2011-12 Income Tax Officer, Ward – vs. Suryajyothi Infotech 3(4), Hyderabad. Limited, Secunderabad. PAN – AAECS6875J (Respondent) (Appellant) Assessee by : Shri V. Siva Kumar Smt N. Swapna Revenue by : Date of hearing : 05-03-2018 Date of pronouncement : 16-03-2018 ORDER PER P. MADHA…

Suryajyoti Infotech Ltd., Sec'Bad, Secunderabad vs. ITO, Ward-3(2), Hyderabad

In the result, the ground of appeal

ITA 1241/HYD/2015[2011-12]Status: DisposedITAT Hyderabad15 Mar 2018AY 2011-12

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2011-12 Suryajyoti Infotech Limited, Vs. Income Tax Officer, Ward Secunderabad. – 3(2), Hyderabad. Pan – Aaecs6875J (Appellant) (Respondent) Assessment Year: 2011-12 Income Tax Officer, Ward – Vs. Suryajyothi Infotech 3(4), Hyderabad. Limited, Secunderabad. Pan – Aaecs6875J (Respondent) (Appellant) Assessee By : Shri V. Siva Kumar Smt N. Swapna Revenue By : Date Of Hearing : 05-03-2018 Date Of Pronouncement : 16-03-2018 Order Per P. Madhavi Devi, J.M.: Both Are Cross Appeals For The A.Y 2011-12, Filed By The Assessee As Well As The Revenue Against The Order Of The Cit(A)-3, Hyderabad Dated 05.08.2015. 2. Brief Facts Of The Case Are That, The Assessee Company, Engaged In The Business Of Development & Maintenance Of Computer Software, Filed Its Return Of Income For The A.Y Suryajyothi Infotech Ltd., Secunderabad. 2011-12 On 29.09.2011, Admitting A Total Income Of Rs. 1,01,412/- After Claiming An Exemption Of Rs. 77,99,926/- U/S 10A Of The It Act. During The Course Of Assessment Proceedings U/S 143(3) Of The It Act, The Assessee Was Required To File Certain Details. After Verifying The Books Of Accounts & The Information Filed By The Assessee, The A.O Proposed To Make:

For Appellant: Shri V. Siva KumarFor Respondent: Date of hearing
Section 10ASection 143(3)Section 14ASection 195Section 36(1)(iii)Section 40

…THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “B”, HYDERABAD BEFORE SMT P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2011-12 Suryajyoti Infotech Limited, vs. Income Tax Officer, Ward Secunderabad. – 3(2), Hyderabad. PAN – AAECS6875J (Appellant) (Respondent) Assessment Year: 2011-12 Income Tax Officer, Ward – vs. Suryajyothi Infotech 3(4), Hyderabad. Limited, Secunderabad. PAN – AAECS6875J (Respondent) (Appellant) Assessee by : Shri V. Siva Kumar Smt N. Swapna Revenue by : Date of hearing : 05-03-2018 Date of pronouncement : 16-03-2018 ORDER PER P. MADHA…