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 366,314 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.

DCIT Cir 3(3)(2), Mumbai vs. Tulip Hotels P.Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5151/MUM/2015[2011-12]Status: DisposedITAT Mumbai14 Mar 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Dcit Cir 3(3)(2) Vs. M/S. Tulip Hotels Pvt.Ltd., R.No.609, 6Th Floor Chandermukhi Building Aayakar Bhavan (Basement), Behind The M.K.Road, Oberoi Nariman Point Mumbai – 400 020 Mumbai – 400 021 Pan/Gir No. Aaact9446Q Appellant) .. Respondent)

Section 10Section 143Section 143(3)Section 14A

…peal No. 51 of 2016 dated 13.10.2016) (Bombay High Court – Nagpur Bench) 2) Cheminvest Ltd. v. CIT [378 ITR 33 (Del) / 281 CTR 447 (Del)] * 3) CIT v. Shivam Motors (P) Ltd. [272 CTR 277 (All)] 12 M/s.Tulip Hotels Pvt.Ltd., 4) CIT v. Corrtech Energy (P) Ltd. [272 CTR 262 (Guj)] 5) CIT v. Lakhani Marketing Incl. [272 CTR 265 (P&H)] 6) CIT v. Holcim India (P) Ltd. [272 CTR 282 (Del)] 7) CIT v. Delite Enterprises [ITA No. 110 of 2009 Bombay High Court) 10. Only strategic investments were made by assessee, therefore, same requires to be excluded from average investment and not be considered for disallowance u/s.14A i…

ACIT, Central Circle-2(1), Kolkata vs. M/S Amricon Agrovat Pvt. Ltd., Kolkata

In the result the appeal by the revenue is dismissed

ITA 2300/KOL/2016[2013-14]Status: DisposedITAT Kolkata01 Mar 2018AY 2013-14

Bench: Hon'Ble Sri N.V.Vasudevan, Jm & Hon'Ble Sri Waseem Ahmed, Am] Assessment Year : 2013-14 A.C.I.T., Central Circle-2(1) -Vs- M/S. Amricon Agrovat (P).Ltd., Kolkata Kolkata (Pan Aadca 1610 Q) (Appellant) (Respondent) For The Appellant: Shri.S.Dasgupta Addl.Cit Dr For The Respondent: Shri D.S.Damle, Fca Date Of Hearing : 15.2.2018 Date Of Pronouncement : 01.03.2018. Order Per Shri N.V.Vasudevan, Jm This Is An Appeal Filed By The Revenue Against Order Dated 27.9.2016 Of Cit(A)-20, Kolkata, Relating To Ay 2013-14. 2. The Grounds Of Appeal Raised By The Revenue In This Reads As Follows: “(I) That The Ld. Cit(A) Has Erred In Accepting That The Term 'Manufacture' Occurring In The Context Of Section 80-Ib Does Not Necessarily Require That The End Product Of The Manufacturing Process Is To Be Completely Different From The Ingredients, As Regards Its Chemical Composition, Integral Structure Or Its Use. (Ii) That The Ld. Cit(A) Has Erred In Accepting That The Process Of Manufacturing Of Poultry Feeds Does Not Amount To Mere Mixing Together Of All Different Ingredients, Without Involving Any Change In The Chemical Composition Of The Ingredients. (Iii) That The Ld. Cit(A) Has Erred In Accepting That The Process Of Preparation Of Poultry Feeds Amount To Production Of An Article Within The Meaning Of Section 80Ib. (Iv) That The Ld. Cit(A) Has Erred In Allowing The Entire Amount Of Rs.1,12,50,626/- Claimed As Deduction U/S 80-Ib.

For Appellant: Shri.S.Dasgupta Addl.CIT DRFor Respondent: Shri D.S.Damle, FCA
Section 14ASection 80Section 801B(4)Section 80I

…ITA No.2300/Kol/2016 M/s. Amricon Agrovat Pvt.Ltd. A.Y.2013-14 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH "B", KOLKATA [Before Hon'ble Sri N.V.Vasudevan, JM & Hon'ble Sri Waseem Ahmed, AM] Assessment Year : 2013-14 A.C.I.T., Central Circle-2(1) -vs- M/s. Amricon Agrovat (P).Ltd., Kolkata Kolkata (PAN AADCA 1610 Q) (Appellant) (Respondent) For the Appellant: Shri.S.Dasgupta Addl.CIT DR For the Respondent: Shri D.S.Damle, FCA Date of Hearing : 15.2.2018 Date of Pronouncement : 01.03.2018. ORDER Per Shri N.V.Vasudevan, JM This is an appeal filed by the Revenue against order dated 27.9.2016 of CIT(A)-20, Kolkata,…

DCIT-2(3)(2), Mumbai vs. Kotak Mahindra Bank Ltd., Mumbai

The appeal of the Revenue is dismissed and that of the assessee is allowed

ITA 2817/MUM/2016[2012-13]Status: DisposedITAT Mumbai28 Feb 2018AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am The Dy. Commissioner Of Kotak Mahindra Bank Ltd. Income Tax, Circle 2(3)(2), 27 Bkc, G Block, Bandra Mumbai R. No. 552, 5Th Floor, Kurla Complex, Bandra Vs. Aayakar Bhavan, M.K. Road, (East), Mumbai-400 023 Mumbai-400 020 Appellant .. Respondent Pan No. Aaack4409J

For Appellant: Farrokh V. Irani, ARFor Respondent: B. Sriniwas, DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SRI MAHAVIR SINGH, JM AND SRI MANOJ KUMAR AGGARWAL, AM The Dy. Commissioner of Kotak Mahindra Bank Ltd. Income Tax, Circle 2(3)(2), 27 BKC, G Block, Bandra Mumbai R. No. 552, 5th Floor, Kurla Complex, Bandra Vs. Aayakar Bhavan, M.K. Road, (East), Mumbai-400 023 Mumbai-400 020 Appellant .. Respondent PAN No. AAACK4409J Cross Objection No. 38/Mum/2018 (Arising in ITA No. 2817/Mum/2016 for A.Y. 2012-13) Kotak Mahindra Bank Ltd. The Dy. Commissioner of 27 BKC, G Block, Bandra Income Tax, Circle 2(3)(2), Mumbai R. No. 552, 5 th Kurla Complex, Bandra Vs. (…

The DCIT, Circle-4(1)(2), Ahmedabad vs. Venus Infrastructure & Developers Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 727/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad23 Feb 2018AY 2010-11

Bench: Shri Rajpal Yadav & Shri N.K. Billaiya)

For Appellant: Shri Albinees Tirkey, Sr. D.RFor Respondent: Shri Dhiren Shah, A.R
Section 14A

…ds. After considering the facts and the submissions, the ld. CIT(A) found that during the year the assessee has not earned any exempt income. Therefore strong reliance from the decision of the Jurisdictional High Court in the case of Corrtech Energy Pvt. Ltd. 372 ITR 97 deleted the addition. 5. Before us, the ld. D.R. could not bring any distinguishing decision in favour of the revenue. The Hon’ble Jurisdictional High Court in the case of Corrtech Energy Pvt. Ltd. (supra), has held that if there is no exempt income, no disallowance is to be made u/s. 14A read with Rule 8D. Since the FAA has followed the judgment…

ACIT, Circle-14(1), Kolkata vs. M/S Ambuja Reality Development Limited, Kolkata

In the result, appeal of revenue is dismissed

ITA 1804/KOL/2016[2012-13]Status: DisposedITAT Kolkata14 Feb 2018AY 2012-13

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 139(1)Section 14ASection 36(1)(va)Section 43

…1 Ambuja Reality Development Ltd.., AY- 2012-13 आयकर अपील"य अधीकरण, "यायपीठ – “D” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “D” 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. 1804/Kol/2016 Assessment Year: 2012-13 Assistant Commissioner of Income-tax, Vs. M/s. Ambuja Reality Development Circle-14(1), Kolkata. Ltd. (PAN: AAFCA4593G) Appellant Respondent Date of Hearing 25.01.2018 Date of Pronouncement 14.02.2018 For the Appellant Shri Arindam Bhattacharjee, Addl. CIT, Sr. DR For the Respon…

Dy. Commissioner of Income Tax, Circle-1(1)(1), Ahmedabad vs. M/S. Acalmar Oils & Fats Ltd., Ahmedabad

In the result, the appeal is dismissed

ITA 2055/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad12 Feb 2018AY 2011-12

Bench: Shri Pramod Kumar] Assessment Year : 2011-12

Section 115JSection 143(3)Section 14ASection 36(1)(vii)

…/- made u/s 115JB of the Act.” 3. Learned representatives fairly agree that as there is no tax exempt income in the relevant previous year and in the light of Hon’ble jurisdictional High Court judgments in the cases of CIT vs. Corrtech Energy Pvt Ltd [(2015) 372 ITR 97 (Guj.)] and PCIT vs. Ambalal Sarabhai Enterprises (TA No.104 of 2017; judgment dated 24.03.2017), disallowances under section 14A cannot be made at all. Once disallowance under section 14A is held to be impermissible, there cannot be any occasion to make adjustment for the purpose of book profit under section 115JB either. On this view of the matt…

Applicomp (India) Ltd, Mumbai vs. DCIT RG 3(1), Mumbai

In the result, the appeal of the Assessee is hereby allowed

ITA 3516/MUM/2012[2008-09]Status: DisposedITAT Mumbai09 Feb 2018AY 2008-09

Bench: Shri G.S. Pannu, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3516/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S Applicomp (India) Ltd., बिधम/ Dcit Range-3(1), 171-C, Mittal Court, Mumbai Vs. Nariman Point, Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacca9547R (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent)

For Appellant: Shri Mayank Chauhan (AR)For Respondent: Shri Rajesh Kumar Yadav (DR)
Section 115JSection 142(1)Section 143(2)Section 14ASection 14A(2)

…Shyamkamal Finance & Leasing Co.(P) Ltd. Vs. ITO (21 SOT 42) (Mumbai ITAT), JCIT Vs. Holland Equipment Co. B.V. (3 SOT 810) (Mumbai ITAT), CIT Vs. M/s. Lakhani Marketing Inc. (49 taxmann.com 257) (Punjab High Court), CIT Vs. Corretech Energy (P.) Ltd. (2014) 223 Taxmann 130 Guj. High Court & CIT Vs. Winsome Textile Industries Ltd. 319 ITR 204 Punjab High Court. However, on the other hand, the Ld. Representative of the revenue has placed reliance upon the order passed in CIT(A) in question. After hearing the argument advanced by the Ld. Representative of the parties and perusing the record. We noticed that the as…

Parker Multi Commodities (I) Pvt.Ltd., Ahmedabad vs. The ACIT, Circle-5, Ahmedabad

In the result, the appeal is partly allowed in the terms indicated above

ITA 157/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad30 Jan 2018AY 2010-11

Bench: Shri Pramod Kumar] Assessment Year : 2010-11 Parker Multi Commodities (I) Pvt Ltd ......…………......Appellant 1, 3Rd Floor, Landmark Building, Opp. Hdfc House, Nr. Mithakhali Six Roads, Ahmedabad – 380 009 [Pan : Aaacp 9355 J] Vs. Asstt. Commissioner Of Income-Tax ............................Respondent Circle-5, Ahmedabad Appearances By: Vasant Tanna, For The Applicant Lalit P Jain, For The Respondent Date Of Concluding The Hearing : 01.03.2019 Date Of Pronouncing The Order : 01.03.2019

Section 143(3)Section 14A

…g the income chargeable to tax. ” 3. Learned Counsel for the assessee submits that the entire earnings from dividend is Rs.38,773/- and, therefore, in terms of Hon’ble jurisdictional High Court’s judgment in the case of CIT vs. Corrtech Energy Pvt Ltd [(2015) 372 ITR 97 (Guj.)], the disallowance under section 14A cannot exceed the tax exempt earnings itself. He further submits that, despite the above clear legal position, the disallowance made in the case of assessee is Rs.6,93,413/-; whereas the dividend earning is far less, i.e. Rs.38,773/-. He therefore urges me to restrict the disallowance under section 14A t…

Btt Industries Private Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-1(2), Hyderabad

In the result, appeal of assessee is allowed

ITA 1799/HYD/2017[2013-14]Status: DisposedITAT Hyderabad19 Jan 2018AY 2013-14

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

For Appellant: Shri V.G. Tarak Nath, ARFor Respondent: Smt. Suman Malik, DR
Section 115JSection 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER I.T.A. No. 1799/HYD/2017 Assessment Year: 2013-14 M/s. BTT Industries Deputy Commissioner Private Limited, Vs of Income Tax, HYDERABAD Circle-1(2), [PAN: AABCB6846R] HYDERABAD (Appellant) (Respondent) For Assessee : Shri V.G. Tarak Nath, AR For Revenue : Smt. Suman Malik, DR Date of Hearing : 09-01-2018 Date of Pronouncement : 19-01-2018 O R D E R PER B. RAMAKOTAIAH, A.M. : The issue in this appeal by assessee against the order of the Commissioner of…

Dy.Commissioner of Income Tax, Circle-3(1)(1), Ahmedabad vs. M/S. Prima Automation (India) P.Ltd., Gandhinagar

ITA 805/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad09 Jan 2018AY 2011-12

Bench: Shri N.K. Billaiya & Shri Mahavir Prasad)

For Appellant: Shri G.C. Pipra, ARFor Respondent: Shri V.K. Singh, Sr. D.R
Section 145ASection 14A

…efore, in our considered opinion, no disallowance needs to be made u/s. 14A read with Rule 8D of the Act. 12. For this proposition, we draw support from the decision of the Hon’ble Jurisdictional High Court of Gujarat in the case of Corrtech Energy Pvt. Ltd. 372 ITR 97. 13. Respectfully following the same, we direct the A.O. to delete the addition of Rs. 68,652/-. This ground is allowed. 14. The next ground relates to the addition of Rs. 18,28,850/-. 15. During the course of the scrutiny assessment proceedings, the A.O. noticed that the assessee has debited an amount of Rs. 18,81,970/-. As training expenses. T…

The ACIT, Circle-1(1)(2), Vadodara vs. Inox Leisure Ltd., Vadodara

In the result, appeal of the Assessing Officer is dismissed

ITA 3362/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad05 Jan 2018AY 2011-12
Section 143(3)Section 14ASection 36(1)(iii)

…unds. In our considered opinion, since the assessee has not earned any exempt income, no disallowance u/s. 14A read with Rule 8D is called for. Our view is also fortified by the decision of the Hon’ble High Court of Gujarat in the case of Corrtech Energy Ltd. 372 ITR 97. Held “that the Tribunal had recorded the finding of fact that the assessee did not make any claim for exemption of any income from payment of tax. Hence, no disallowance could be made u/s. 14A of the I.T. Act.” 5. Respectfully following the above legal position and having noted that the assessee did not have any tax exempt income during the relev…

Inox Leisure Ltd., Baroda vs. The Dy. CIT, Circle-1(2), Baroda

In the result, appeal of the Assessing Officer is dismissed

ITA 3330/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad05 Jan 2018AY 2011-12
Section 143(3)Section 14ASection 36(1)(iii)

…unds. In our considered opinion, since the assessee has not earned any exempt income, no disallowance u/s. 14A read with Rule 8D is called for. Our view is also fortified by the decision of the Hon’ble High Court of Gujarat in the case of Corrtech Energy Ltd. 372 ITR 97. Held “that the Tribunal had recorded the finding of fact that the assessee did not make any claim for exemption of any income from payment of tax. Hence, no disallowance could be made u/s. 14A of the I.T. Act.” 5. Respectfully following the above legal position and having noted that the assessee did not have any tax exempt income during the relev…

Saryu Properties and Hotels P.Ltd, Mumbai vs. DCIT CC 4(2), Mumbai

In the result this appeal by the assessee stands dismissed

ITA 5674/MUM/2016[2011-12]Status: DisposedITAT Mumbai04 Jan 2018AY 2011-12

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./I.T.A. No.5674/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) M/S. Saryu Properties & Hotels Pvt. Dcit-Cc 4(2), 19Th Floor, Air India Building, Ltd. बनाम/ Plot No. 25, Girnar, ‘B’Wing, Nariman Point, Mumbai-400 021 Vs. 1St Floor, Pali Mala Road, Pali Hill, Bandra (W), Mumbai-400 050 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaacs 6983 M (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Sunil K. Ramaro & Shri Vinay Sinha ""यथ" क" ओर से/Respondent By : Shri M. V. Rajguru सुनवाई क" तार"ख / : 02.11.2017 Date Of Hearing घोषणा क" तार"ख / : 04.01.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against Order Of The Ld. Commissioner Of Income Tax (Appeals)-52, Mumbai Dated 30.06.2016 & Pertains To Assessment Year 2011-12. 2. The Grounds Of Appeal Read As Under: 1. The Learned Cit (A) Erred In Not Admitting The Additional Grounds Relating To Disallowance U/S I4-A Holding That The Said Disallowance Was In The Original

For Appellant: Shri Sunil K. Ramaro &For Respondent: Shri M. V. Rajguru
Section 14Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण “एल” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “L” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI SANDEEP GOSAIN, JM आयकर अपील सं./I.T.A. No.5674/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) M/s. Saryu Properties and Hotels Pvt. DCIT-CC 4(2), 19th Floor, Air India Building, Ltd. बनाम/ Plot No. 25, Girnar, ‘B’Wing, Nariman Point, Mumbai-400 021 Vs. 1st Floor, Pali Mala Road, Pali Hill, Bandra (W), Mumbai-400 050 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. AAACS 6983 M (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant by : Shri Sunil K. Ramaro & Shri Vinay…

M/S. Chengmari Tea Co. Ltd, Kolkata vs. Dy./ACIT, Circle - 4(1), Kolkata

In the result the appeal by the assessee is partly allowed

ITA 1932/KOL/2017[2010-11]Status: DisposedITAT Kolkata03 Jan 2018AY 2010-11

Bench: Hon’Ble Sri N.V.Vasudevan, Jm] I.T.A No. 1932/Kol/2017 Assessment Year : 2010-11

For Appellant: Shri Sunil Surana, AdvocateFor Respondent: Shri Snehangshu Biswas, Addl.CIT
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH : KOLKATA [Before Hon’ble Sri N.V.Vasudevan, JM] I.T.A No. 1932/Kol/2017 Assessment Year : 2010-11 M/s. Chengmari Tea Co. Ltd. -vs.- Dy/ACIT, Circle-4(1), Kolkata Kolkata [PAN : AABCC 0672 Q] (Respondent) (Appellant) For the Appellant : Shri Sunil Surana, Advocate For the Respondent : Shri Snehangshu Biswas, Addl.CIT Date of Hearing : 14.12.2017. Date of Pronouncement : 03.01.2018. ORDER This is an appeal by the assessee against the order dated 04.08.2017 of CIT(A) – 6, Kolkata relating to A.Y.2010-11. 2. Ground No.1 raised by the assessee is general in nat…

Assistant Commissioner of Income Tax, Circle-1, Kota vs. M/S Jainco Enterprises Pvt. Ltd., Kota

In the result, the appeal of the revenue stands dismissed

ITA 755/JPR/2017[2014-15]Status: DisposedITAT Jaipur26 Dec 2017AY 2014-15
For Appellant: NoneFor Respondent: Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@
Section 143(3)Section 145(3)Section 14ASection 2(24)(x)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh fot; iky jko] U;kf;d lnL; ,oa Jh Hkkxpan] ys[kk lnL; ds le{k BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, AM vk;dj vihy la-@ITA No. 755/JP/2017 fu/kZkj.k o"kZ@Assessment Year: 2014-15 cuke Assistant Commissioner M/s Jainco Enterprises Pvt. Vs. of Income Tax, Ltd., 592, Welcome Tower, Circle-1, Kota. Dadabari, Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AACCJ 6381 J vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@ Assessee by : N…

M/S Ub Infrastructure Projects Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

In the result, the appeal of the assessee is dismissed

ITA 2098/BANG/2016[2012-13]Status: DisposedITAT Bangalore22 Dec 2017AY 2012-13

Bench: Shri Sunil Kumar Yadav & Shri Inturi Rama Raoassessment Year : 2012-13

For Appellant: Miss. Girija G. P, CAFor Respondent: Smt. Padma Meenakshi, JCIT
Section 14ASection 234B

…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 ITA No.1107/Bang/2016 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question "corresp…

Deputy Commissioner of Income Tax Circle-4(1)(1), Bangalore vs. M/S Kesar Marble and Granite Limited, Bangalore

In the result, the appeal of the revenue is dismissed

ITA 1392/BANG/2017[2012-13]Status: DisposedITAT Bangalore15 Dec 2017AY 2012-13

Bench: Shri Sunil Kumar Yadavassessment Year : 2012-13

For Appellant: Shri Vikas Suryawanshi, AdvocateFor Respondent: Shri C. Ramesh, CA
Section 10Section 14A

…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…

Triway Forwarders Pvt. Ltd., Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee is allowed

ITA 932/CHNY/2017[2012-2013]Status: DisposedITAT Chennai28 Nov 2017AY 2012-2013

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No.932/Mds/2017 "नधा"रण वष" /Assessment Year : 2012-2013. M/S. Triway Forwarders Pvt. Limited, Vs The Assistant Commissioner Of No.14, Jaffer Street, Income Tax, Mannady, Company Circle Iii(2) Chennai 600 001. Chennai.

For Appellant: Shri. N. Devanathan, AdvocateFor Respondent: Shri. M. Palanichamy, IRS, JCIT
Section 14A

…ng under Chapter III of the Act, viz. incomes not forming part of total income, would stand excluded from the application of s. 14 A of the Act. 6. Reliance was placed on the following decisions: Commissioner of Income Tax Vs. Corrtech Energy Private Limited (372 ITR 97) (Gujarath High Court) CIT (iv) Holcim India Ltd., Vs. Commissioner of Tax (Delhi High Court) ( 90 CCH 81), Commissioner of Income Tax Vs. Shivam Motors Private Limited (Allahabad High Court) (230 Taxmann 63), Principal Commissioner of Income Tax Vs. Gujarath State Petronet Limited (Gujarath High Court) and Commissioner of Income Tax, Vs. Lakhani…

Auto Shell Cast Pvt Ltd., Coimbatore vs. DCIT, Coimbatore

In the result, the appeal of the assessee is allowed

ITA 931/CHNY/2017[2013-14]Status: DisposedITAT Chennai28 Nov 2017AY 2013-14

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No.931/Mds/2017 "नधा"रण वष" /Assessment Year : 2013-2014

For Respondent: Shri M. Palanichamy, JCIT
Section 14ASection 43B

…ng under Chapter III of the Act, viz. incomes not forming part of total income, would stand excluded from the application of s. 14 A of the Act. 6. Reliance was placed on the following decisions: Commissioner of Income Tax Vs. Corrtech Energy Private Limited (372 ITR 97) (Gujarath High Court) CIT (iv) Holcim India Ltd., Vs. Commissioner of Tax (Delhi High Court) ( 90 CCH 81), Commissioner of Income Tax Vs. Shivam Motors Private Limited (Allahabad High Court) (230 Taxmann 63), Principal Commissioner of Income Tax Vs. Gujarath State Petronet Limited (Gujarath High Court) and Commissioner of Income Tax, Vs. Lakhani…

DCIT, New Delhi vs. M/S. Prl Projects & Infrasturcture Ltd., New Delhi

Appeal of the department is dismissed

ITA 5010/DEL/2015[2011-12]Status: DisposedITAT Delhi16 Nov 2017AY 2011-12

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava

For Appellant: Shri Tarun Kumar Batra, CAFor Respondent: Shri Surenderpal, Sr. DR
Section 115JSection 143(3)Section 14ASection 194HSection 40

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI B.P. JAIN, ACCOUNTANT MEMBER AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA No.:- 5010/Del /2015 Assessment Year: 2011-12 DCIT PRL Projects & Infrastructure Lt. Circle-19(2),Room No. 221, 34/1, Vikas Apartment, Vs. 2nd Floor, C.R. Building, East Punjabi Bagh, I.P. Estate, New Delhi – 110 026 New Delhi. AAACP0411D (Appellant) (Respondent) Department by: Shri Surenderpal, Sr. DR Assessee by : Shri Tarun Kumar Batra, CA Date of Hearing 02/11/2017 Date of /2017 pronouncement O R D E R PER SUDHANSHU SRIVASTAVA, J.M. This appeal has been p…