How many judgments cite CIT v. Corrtech Energy (P.) Ltd.?

579 judgments on BharatTax cite CIT v. Corrtech Energy (P.) Ltd. (223 Taxmann 130), spanning 2014 to 2026.

Which sections of the Income Tax Act does CIT v. Corrtech Energy (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 14A, Section 143(3), Section 1961, Section 8D, Section 115JB, Section 143(2).

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 366,005 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 14A Section 143(3)Section 1961 Section 8D Section 115JB Section 143(2)Section 37(1)Section 250

Issues it is cited on

disallowance under section 14a disallowance u/s 14a section 14a section 36(1)(iii)section 115jb section 36(1)section 37 section 36 section 10 previous year scrutiny assessment assistant commissioner

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

DCIT, New Delhi vs. M/S. Darcl Logistics Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 979/DEL/2016[2012-13]Status: DisposedITAT Delhi15 Nov 2017AY 2012-13

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Section 14A

…d CIT Vs. Winsome Textile Industries Limited, [2009] 319 ITR 204 to hold that Section 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in Commissioner of Income Tax-I Vs. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj). The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (li) Kanpur, Vs. M/s. Shivam Motors (P) Ltd. decided on 05.05.2014. In the said decision it has been held: "As regards the second question, Section 14A of the Act provides that for the purposes of computing the total incom…

DCIT - 3(3)(1), Mumbai vs. Rb Holdings Pvt. Ltd., Mumbai

In the result, appeal of the revenue fails

ITA 6461/MUM/2016[2012-13]Status: DisposedITAT Mumbai10 Nov 2017AY 2012-13

Bench: Shri Sktijit Dey () & Shri G Manjunatha ()

Section 14Section 143(3)Section 144Section 14A

…d CIT Vs. Winsome Textile Industries Limited, [2009] 319 ITR 204 to hold that Section 144 cannot be invoked when no exempt income was earned The second decision is of the 6ujarat High Court in commissioner of Income Tax-I Vs. Cori-tech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Cuj.). The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (Ii) Kanpur, Vs. MIS. Shivarn Motors (P) Ltd. decided on 0505.2014. In the said decision it has been held: “As regards the second question, Section 144 of the Act provides that for the purposes of computing the total incom…

DCIT, Bangalore vs. M/S Wonderla Holidays Limited, Bangalore

In the result, the appeal of the revenue is dismissed

ITA 1107/BANG/2016[2008-09]Status: DisposedITAT Bangalore10 Nov 2017AY 2008-09

Bench: Shri Sunil Kumar Yadav & Shri Jason P. Boazassessment Year : 2008-09

For Appellant: Ms. Susan Mathew, CAFor Respondent: Shri B.R. Ramesh, Jt. CIT(DR)(ITAT), Bengaluru

Section 10Section 143Section 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 Page 4 of 7 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 exp…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

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

ITA 6021/DEL/2012[2008-09]Status: DisposedITAT Delhi09 Nov 2017AY 2008-09

Bench: Shri N.K. Saini & Shri K.N. Charry

Section 143(3)Section 144CSection 144C(5)Section 14ASection 35DSection 43BSection 92C

…ns in ACB India Ltd. v. ACIT: 374 ITA No.-6021/Del/2012 ITR 108 (Del.), Cheminvest Ltd. v. CIT : 379 ITR 33 (Del.), CIT v. Holcim India (P) Ltd.: 272 CTR 282 (Del.), ACIT v. Vireet Investments (P.) Ltd: 165 ITD 27 (Del SB), CIT v. Corrtech Energy Pvt. Ltd.: 372 ITR 97 (Guj.), CIT v. Winsome Textile Industries Ltd.: 319 ITR 204 (P&H), CIT v. M/s Lakhani Marketing: 272 CTR 265 (P&H) , CIT v. M/s. Shivam Motors (P) Ltd.: 272 CTR 277 (All), Interglobe Enterprises v. DCIT: ITA No.1362 & 1032/Del./2013 (Del. Trib.) – affirmed by Delhi High Court in ITA No.456 of 2016, REI Agro Ltd vs. DCIT: 144 ITD 141 (Kol. Trib.) –…

ACIT, New Delhi vs. M/S. Samtel Machines and Projects Ltd., New Delhi

The appeals of the Revenue are dismissed

ITA 4467/DEL/2016[2008-09]Status: DisposedITAT Delhi07 Nov 2017AY 2008-09

Bench: Shri N.K. Saini & Shri Joginder Singh

Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, "द"ल", "यायपीठ, ‘जी’,"द"ल"। IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G”, DELHI "ी एन.के. सैनी, लेखा सद"य एवं "ी जो"ग"दर "संह, "या"यक सद"य, के सम! Before Shri N.K. Saini, Accountant Member and Shri Joginder Singh, Judicial Member, ITA Nos.4467 & 4468/Del/2016 Assessment Years: 2008-09 & 2009-10 ACIT, M/s. Samtel Machines and Circle-22(1), Projects Ltd. (Earlier known बनाम/ Room No.226, 02nd Floor, as M/s Teletube Electronics Vs. C.R. Building, I.P. Estate, Ltd.), 6th Floor, TDI Centre New Delhi Jasola, New Delhi-110025 (राज"व /Revenue) ("नधा&'रती /Assessee) PAN. No.AAACT626Q Shri…

ACIT, New Delhi vs. M/S Educomp Online Supplemental Service Ltd., New Delhi

In the result appeal of the revenue is dismissed

ITA 3439/DEL/2016[2013-14]Status: DisposedITAT Delhi07 Nov 2017AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri V.K. Aggarwal, ARFor Respondent: Shri Atiq Ahmod, Sr. DR

Section 143(3)Section 14ASection 36

…High Court in CIT Vs. M/s. Lakhani Marketing Incl., ITA No. 970/2008 decided on 02.04.2014, CIT Vs. Hero Cycles Limited [2010] 323 ITR 518 and CIT Vs. Winsome Textile Industries Limited [2009] 319 ITR 204, and those in CIT Vs. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.) and, CIT Vs. M/s. Shivam Motors (P) Ltd. in ITA No. 88 of 2014 decided on 05.05.2014 wherein it has been held that no disallowance can be made u/s 14A if there is no exempt income in the relevant, no disallowance under section 14A of the Act could be made. The appellant has made further reliance on the decisions of the jurisdictional I…

Bpl Ltd, Bangalore vs. Assistant Commissioner of Income Tax Circle-2(1)(1), Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 1055/BANG/2017[2012-13]Status: DisposedITAT Bangalore03 Nov 2017AY 2012-13

Bench: Shri A.K.Garodia, Am & Shri George George K, Jm

For Appellant: --- None ---For Respondent: Smt.Padmameenakshi, JCIT

Section 10(33)Section 14Section 143(2)Section 143(3)Section 14A

…two earlier decisions of the same Court 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…

M/S. Mulchandbhai & Sons, Ahmedabad vs. The Income Tax Officer, Ward-3(2)(4), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 2371/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad31 Oct 2017AY 2012-13

Bench: Shri S.S. Godara & Shri Manish Boradआयकर अपील सं./ Ita No. 2371/Ahd/2016 िनधा"रण वष"/Assessment Year: 2012-13 M/S. Mulchandbhai & Sons, Vs. Income-Tax Officer, B-507, Ganesh Plaza, Ward-3(2)(4), Opp. Navrangpura Bus Stand, Ahmedabad Navrangpura, Ahmedabad Pan : Aacfm 7364 F [ अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee By : Shri Aseem Thakkar, Ar Revenue By : Shri Prasoon Kabra, Sr Dr सुनवाई क" तारीख/Date Of Hearing : 26/10/2017 घोषणा क" तारीख /Date Of Pronouncement: 31/10/2017 आदेश/O R D E R Per Manish Borad: This Appeal By The Assessee Is Directed Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)-3, Ahmedabad Dated 13.07.2016 For Assessment Year 2012-13. 2. The Grievances Raised By The Assessee Are As Follows:-

For Appellant: Shri Aseem Thakkar, ARFor Respondent: Shri Prasoon Kabra, Sr DR

Section 14ASection 194ASection 194A(3)(iv)Section 40Section 40a

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ ‘SMC/D’ अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “SMC/D” BENCH, AHMEDABAD BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 2371/Ahd/2016 िनधा"रण वष"/Assessment Year: 2012-13 M/s. Mulchandbhai & Sons, Vs. Income-tax Officer, B-507, Ganesh Plaza, Ward-3(2)(4), Opp. Navrangpura Bus Stand, Ahmedabad Navrangpura, Ahmedabad PAN : AACFM 7364 F [ अपीलाथ"/ (Appellant) "त् यथ"/ (Respondent) Assessee by : Shri Aseem Thakkar, AR Revenue by : Shri Prasoon Kabra, Sr DR सुनवाई क" तारीख/Date of Hearing : 26/10/2017 घोषणा क" तारी…

Corrtech Energy Ltd., (Formerly Known As Mjb India Gas Turbine Services Pvt. Ltd., Ahmedabad vs. The Dy.CIT, (OSD), Range-1, Ahmedabad

In the result, appeal of the Assessee is partly allowed

ITA 3433/AHD/2014[2010-11]Status: DisposedITAT Ahmedabad30 Oct 2017AY 2010-11

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No.3443/Ahd/2014 ("नधा"रण वष" / Assessment Year : 2010-11)

For Appellant: Shri G.C. Pipara, ARFor Respondent: Shri Mudit Nagpal, Sr.DR

Section 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘बी’, अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ B ” BENCH, AHMEDABAD सव"ी "द"प कुमार के"डया, लेखा सद"य एवं महावीर "साद, "या"यक सद"य के सम" । BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER आयकर अपील सं./I.T.A. No.3443/Ahd/2014 ("नधा"रण वष" / Assessment Year : 2010-11) M/s.Corrtech Energy Ltd. The Dy.CIT (OSD) बनाम/ (formerly known as MJB India Gas Range-1, Ahmedabad Vs. Turbine Services Pvt.Ltd.) 22, Dhara Centre Vijay Char Road Navrangpura Ahmedabad "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACI 8838 F .. (अपीलाथ" /Appellant…

Deputy Commissioner of Income Tax, Circle-6, Jaipur vs. M/S. Anamika Conductors Ltd., Jaipur

In the result, appeal of the Revenue is dismissed and cross objection of the assessee is allowed

ITA 612/JPR/2017[2012-13]Status: DisposedITAT Jaipur26 Oct 2017AY 2012-13

For Appellant: Shri G.M. Mehta (C.A.)For Respondent: Smt. A.S. Nehra (Addl.CIT)

Section 14ASection 201(1)Section 36(1)Section 40Section 43B

…come under the Act, the expenditure which is incurred for earning the income is not an allowable deduction. In absence of any tax free income, the corresponding expenditure could not be worked out for disallowance. (d) CIT Vs. Corrtech Engery Pvt. Ltd. (2015) 376 ITR 97(Guj): Disallowance of expenditure relating to non-taxable income. No claim for exemption-expenditure relating to such amount cannot be disallowed. (v) The circular of CBDT referred to by the ld. AO in order u/s 143(3) is against the law laid down by various High Courts. On the facts and considering the law position, ld. CIT(A) was not justified i…

M/S. Anjaneya Cold Storage Limited, New Delhi vs. ACIT, New Delhi

In the result, appeal of the assessee is allowed partly

ITA 6079/DEL/2014[2010-11]Status: DisposedITAT Delhi25 Oct 2017AY 2010-11

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Vs. Acit, Circle-1(1), New Delhi M/S. Anjaneya Cold Storage Limited, B-35, Lawrence Road Industrial Area, New Delhi Pan : Aaaca0597R (Appellant) (Respondent)

Section 143(2)Section 14A

…to 6 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…

Assistant Commissioner of Income Tax, Circle-1, Kota vs. M/S Tolaram Satyadev Agro Pvt. Ltd., Kota

In the result, appeal of the revenue stands dismissed

ITA 672/JPR/2017[2013-14]Status: DisposedITAT Jaipur09 Oct 2017AY 2013-14

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@

Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh Hkkxpan] ys[kk lnL; ,oa Jh dqy Hkkjr] U;kf;d lnL; ds le{k BEFORE: SHRI BHAGCHAND, AM & SHRI KUL BHARAT, JM vk;dj vihy la-@ITA No. 672/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Assistant Commissioner of M/s Tolaram Satyadev Vs. Income Tax, Agro Pvt. Ltd., Circle-1, Kota 40-A, Talwandi, Kota. PAN No.: AACCT 2015 P vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@ Assessee by : Shri P.C. Parwal (CA) lquokbZ dh rkjh[k@ Date of Hear…

Assistant Commissioner of Income Tax, Circle-1, Kota vs. Sudha Hospital & Medical Research Centre, Kota

In the result, appeal of the revenue stands dismissed

ITA 671/JPR/2017[2014-15]Status: DisposedITAT Jaipur09 Oct 2017AY 2014-15

For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@

Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR Jh Hkkxpan] ys[kk lnL; ,oa Jh dqy Hkkjr] U;kf;d lnL; ds le{k BEFORE: SHRI BHAGCHAND, AM & SHRI KUL BHARAT, JM vk;dj vihy la-@ITA No. 671/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2014-15 cuke Assistant Commissioner of Sudha Hospital and Vs. Income Tax, Medical Research Centre Circle-1, Kota Pvt. Ltd., 11-A, Talwandi, Kota. PAN No.: AAGCS 2221 N vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Shri R.A. Verma (Addl.CIT) fu/kZkfjrh dh vksj ls@ Assessee by : Shri P.C. Parwal (CA) lquokbZ dh rkj…

Assistant Commissioner of Income Tax, Circle-1, Kota vs. M/S Naresh Kumar Manoj Kumar, Kota

In the result, appeal of the revenue stands dismissed

ITA 670/JPR/2017[2013-14]Status: DisposedITAT Jaipur09 Oct 2017AY 2013-14

For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Poonam Roy (DCIT) fu/kZkfjrh dh vksj ls@

Section 145(3)Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES (SMC), JAIPUR Jh Hkkxpan] ys[kk lnL;] ds le{k BEFORE: SHRI BHAGCHAND, ACCOUNTANT MEMBER vk;dj vihy la-@ITA No. 670/JP/2017 fu/kZkj.k o"kZ@Assessment Year : 2013-14 cuke Assistant Commissioner M/s Naresh Kumar Manoj Kumar, Vs. of Income Tax, B-43, Bhamashah Mandi, Circle-1, Kota Kota. PAN No.: AADFN 5008 Q vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Smt. Poonam Roy (DCIT) fu/kZkfjrh dh vksj ls@ Assessee by : Shri P.C. Parwal (CA) lquokbZ dh rkjh[k@ Date of Hearing : 04/10/2017 mn?kks"k.kk dh rk…

The ACIT, Mehsana Circle, Mehsana vs. M/S. Ammann Apollo India Pvt. Ltd., Mehsana

ITA 2313/AHD/2015[2012-13]Status: DisposedITAT Ahmedabad29 Sept 2017AY 2012-13

For Appellant: NoneFor Respondent: Shri Prasoon Kabra, Sr. D.R

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

…set that the assessee has not derived any exempt income in the impugned assessment year. This makes the CIT(A) to delete the impugned disallowance after quoting hon’ble jurisdictional high court’s decision in CIT vs. Corrtech Energy P. Ltd, reported in [2015] 372 ITR 97 (Guj.). This legal position has not been rebutted at Revenue’s behest during the course of hearing. We therefore affirm the CIT(A)’s findings qua this latter issue as well. ITA No. 2313/Ahd/15 & CO No. 189/Ahd/15 (ACIT vs. M/s. Ammann Apollo India Pvt. Ltd.) A.Y. 2012-13 - 4 - 5. The assessee’s cross objection CO No.189/Ahd/2015 supporting the C…

Rajratna Metal Industries Ltd., Ahmedabad vs. The Addl.CIT, Range-5, Now Range-3(1), Ahmedabad

ITA 940/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad22 Sept 2017AY 2010-11

For Appellant: Shri P. D. Shah, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R

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

…pt dividend income. The case file however indicates that the assessee has not derived any such exempt income in the impugned assessment year. We therefore quote hon’ble jurisdictional high court’s decision in CIT vs. Corrtech Energy P. Ltd, reported in [2015] 372 ITR 97 (Guj.) holding that Section 14A read with computation provision enshrined in Rule 8D does not apply in absence of any exempt income in relevant previous year. We therefore quote the above judicial precedent to delete the impugned disallowance of Rs.92,175/-. 3. Assessee’s latter substantive ground challenges correctness of both the lower authorit…

DCIT, New Delhi vs. M/S. Manpower Group Services India Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

ITA 5148/DEL/2015[2011-12]Status: DisposedITAT Delhi19 Sept 2017AY 2011-12

Bench: Shri B.P. Jain & Shri Kuldip Singh.

For Appellant: NoneFor Respondent: Shri Arun Kumar Yadav, Sr.DR

Section 14A

…nd CIT Vs. Winsome Textile Industries Limited, [2009] 319 ITR 204 to hold that Section 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in Commissioner of Income Tax-I Vs. Corrtech Energy (P) Ltd. [2014] 223 Taxmann 130 (Guj). The third decision is of the Allahabad High Court in Income Tax Appeal No.88 of 2014, Commissioner of Income Tax (ii) Kanpur, Vs. M/s. Shivam Motors (P) Ltd. decided on 05.05.2014. In the said decision it has been held: "As regards the second question. Section 14A of the Act provides that for the purposes of computing the total income…

DCIT, New Delhi vs. M/S. Manpower Group Services India Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

ITA 5147/DEL/2015[2010-11]Status: DisposedITAT Delhi19 Sept 2017AY 2010-11

Bench: Shri B.P. Jain & Shri Kuldip Singh.

For Appellant: NoneFor Respondent: Shri Arun Kumar Yadav, Sr.DR

Section 14A

Pr. Commissioner of Income Tax-04 vs. M/S Il & Fs Energy Development Company Ltd

ITA/520/2017HC Delhi16 Aug 2017

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MS. JUSTICE PRATHIBA M. SINGH

Section 115JSection 14ASection 260

…he decision of the Special Bench of the ITAT and held that Section 14A of the Income Tax Act would not apply if the Assessee had not received any exempt income in the year in question. The Gujarat High Court had, in CIT v. Corrtech Energy Pvt. Ltd. [2015] 372 ITR 97 (Guj) held likewise. The Assessee held interest free funds in the form of share capital, share application money and reserve paid surplus, which exceeded the amount invested by the Assessee. Consequently, the question of disallowance of any expenditure incurred to earn exempt income during the AY in ITA No. 520/2017…

DCIT, New Delhi vs. M/S. Bharat Hotels Ltd., New Delhi

The appeals are dismissed

ITA 4771/DEL/2014[2011-12]Status: DisposedITAT Delhi08 Jun 2017AY 2011-12

Bench: Shri L. P. Sahu & Smt Suchitra Kambledcit Vs Bharat Hotels Ltd. Circle-2(1) Barakhamba Lane New Delhi New Delhi Aaacb1298E (Appellant) (Respondent)

Section 10Section 14A

…nd CIT Vs. Winsome Textile Industries Limited, [2009] 319 ITR 204to hold that Section 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in Commissioner of Income Tax-1 Vs. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.) The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (li) Kanpur, Vs. M/s. Shivam Motors (P) Ltd. decided on 05.05.2014. In the said decision it has been held: "As regards the second question. Section I4A of the Act provides that for the purposes of computing the total incom…