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.

Chambal Fertilisers and Chemicals Limited, Kota vs. ACIT, Kota

In the result, appeal of the revenue is dismissed

ITA 291/JPR/2017[2013-14]Status: DisposedITAT Jaipur13 May 2022AY 2013-14
For Appellant: Shri Percy PardiwallaFor Respondent: Shri Sanjay Dhariwal (CIT)
Section 40A(2)(b)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ‘B’,VC, JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 201, 291/JP/2017 & 744/JP/2018 Assessment Years : 2012-13, 13-14 & 14-15. cuke M/s. Chambal Fertilizers & Dy. Commissioner of Income-tax, Vs. Chemicals Ltd., Gadepan, Circle-2, District Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 170, 335/JP/2017 & 821/J…

Chambal Fertilisers and Chemicals Limited, Kota vs. DCIT, Kota

In the result, appeal of the revenue is dismissed

ITA 201/JPR/2017[2012-13]Status: DisposedITAT Jaipur13 May 2022AY 2012-13
For Appellant: Shri Percy PardiwallaFor Respondent: Shri Sanjay Dhariwal (CIT)
Section 40A(2)(b)

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCH ‘B’,VC, JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 201, 291/JP/2017 & 744/JP/2018 Assessment Years : 2012-13, 13-14 & 14-15. cuke M/s. Chambal Fertilizers & Dy. Commissioner of Income-tax, Vs. Chemicals Ltd., Gadepan, Circle-2, District Kota. Kota. LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACC 9762 A vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@ITA No. 170, 335/JP/2017 & 821/J…

Sahajanand Laser Technology Ltd., Gandhinagar vs. The ITO, Ward-4(1)(1), Ahmedabad

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

ITA 1431/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad11 May 2022AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Ms. Arti Shah, A.RFor Respondent: Shri Purushottam Kumar, Sr. D.R
Section 10ASection 14ASection 271(1)(c)Section 36(1)(iii)Section 36(2)Section 40A(2)(b)

…ITA Nos.496/Ahd/2014 & 1431/Ahd/2017 Assessment Year: 2009-10 Page 1 of 12 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER (Conducted through Virtual Court) Assessment Year: 2009-10 Dy. Commissioner of Income Tax, vs. Sahajanand Laser Technology Circle-8, Ahmedabad. Limited, E-30, GIDC Electronic Estate, Sector-28, Gandhinagar – 382 028 [PAN – AAGCS 1983 B] Assessment Year: 2009-10 Sahajanand Laser Technology Ltd., vs. The Income Tax Officer, E-30, GIDC Electronic Estate, Ward – 4(1)(1), Ahmedabad…

The Dy. CIT, Circle-8, Ahmedabad vs. Sahajanand Laser Technology Limited, Gandhinagar

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

ITA 496/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad11 May 2022AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Ms. Arti Shah, A.RFor Respondent: Shri Purushottam Kumar, Sr. D.R
Section 10ASection 14ASection 271(1)(c)Section 36(1)(iii)Section 36(2)Section 40A(2)(b)

…ITA Nos.496/Ahd/2014 & 1431/Ahd/2017 Assessment Year: 2009-10 Page 1 of 12 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER (Conducted through Virtual Court) Assessment Year: 2009-10 Dy. Commissioner of Income Tax, vs. Sahajanand Laser Technology Circle-8, Ahmedabad. Limited, E-30, GIDC Electronic Estate, Sector-28, Gandhinagar – 382 028 [PAN – AAGCS 1983 B] Assessment Year: 2009-10 Sahajanand Laser Technology Ltd., vs. The Income Tax Officer, E-30, GIDC Electronic Estate, Ward – 4(1)(1), Ahmedabad…

The DCIT, Gandhinagar Circle, Gandhinagar vs. M/S. Gujarat State Petronet Ltd., Gandhinagar

In the result appeal of the Revenue is partly allowed for the statistical purposes

ITA 273/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad29 Apr 2022AY 2015-16

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 272-273/Ahd/2020 िनधा"रण वष"/Asstt. Years: 2014-2015 & 2015-16 D.C.I.T, M/S. Gujarat State Petronet Ltd., Gnr Circle. Vs. Plot No.E-18, Jamnagar Gidc Electronics Estate, Sector-26, Gandhinagar.

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Mohd. Usman, CIT. D.R with Smt. Neeju Gupta, Sr.D.R
Section 14A

…2 ITR 694 holding that disallowance of expenditure in terms of section 14A read with Rule 8D cannot exceed the exempt income itself. Our High Court has also adopted the similar view in case of Commissioner of Income Tax v. Corrtech Energy Pvt Ltd. reported in 372 ITR 97. 13.5 In view of the above, and after considering the facts in totality we hold that the disallowance with respect to administrative expenses has to be made as per the provisions of law and in the manner as discussed above against the exempted income. Hence the ground of appeal of the Revenue is partly allowed. ITA nos.272-273/AHD/2020 Asstt. Yea…

The DCIT, Gandhinagar Circle, Gandhinagar vs. M/S. Gujarat State Petronet Ltd., Gandhinagar

In the result appeal of the Revenue is partly allowed for the statistical purposes

ITA 272/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad29 Apr 2022AY 2014-15

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 272-273/Ahd/2020 िनधा"रण वष"/Asstt. Years: 2014-2015 & 2015-16 D.C.I.T, M/S. Gujarat State Petronet Ltd., Gnr Circle. Vs. Plot No.E-18, Jamnagar Gidc Electronics Estate, Sector-26, Gandhinagar.

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Mohd. Usman, CIT. D.R with Smt. Neeju Gupta, Sr.D.R
Section 14A

…2 ITR 694 holding that disallowance of expenditure in terms of section 14A read with Rule 8D cannot exceed the exempt income itself. Our High Court has also adopted the similar view in case of Commissioner of Income Tax v. Corrtech Energy Pvt Ltd. reported in 372 ITR 97. 13.5 In view of the above, and after considering the facts in totality we hold that the disallowance with respect to administrative expenses has to be made as per the provisions of law and in the manner as discussed above against the exempted income. Hence the ground of appeal of the Revenue is partly allowed. ITA nos.272-273/AHD/2020 Asstt. Yea…

Vivimed Labs Limited, Hyderabad vs. 500082 Assistant Commissioner of Income Tax Central Circle2-(3), Hyderabad

ITA 189/HYD/2021[2017-18]Status: DisposedITAT Hyderabad12 Apr 2022AY 2017-18

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

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Y.V.S.T. Sai – CIT DR
Section 143(3)

…Rs.2,05,29,751/-; assessment year-wise; respectively. Suffice to say, we do not find any exempt income to have been derived in all these four years. Case laws CIT Vs. Chettinad Logistics Pvt. Ltd [80 taxmann.com 221] (Madras), CIT Vs. Cortech Energy Pvt. Ltd. 223 Taxmann 130 (Guj) and Cheminvest Ltd. Vs. Cit (2015) 378 ITR 33 (Delhi) holds that section 14A r.w.r 8D disallowance comes into play only in relation to an assessee’s exempt income than having any independent application. 13. We have given our thoughtful consideration to Revenue’ stand placing reliance on the CBDT’s Circular No.5/2014 dt.11/02/2014. The…

Vivimed Labs Limited, Hyderabad vs. Assistant Commissioner of Income Tax, Hyderabad

ITA 188/HYD/2021[2016-17]Status: DisposedITAT Hyderabad12 Apr 2022AY 2016-17

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

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Y.V.S.T. Sai – CIT DR
Section 143(3)

…Rs.2,05,29,751/-; assessment year-wise; respectively. Suffice to say, we do not find any exempt income to have been derived in all these four years. Case laws CIT Vs. Chettinad Logistics Pvt. Ltd [80 taxmann.com 221] (Madras), CIT Vs. Cortech Energy Pvt. Ltd. 223 Taxmann 130 (Guj) and Cheminvest Ltd. Vs. Cit (2015) 378 ITR 33 (Delhi) holds that section 14A r.w.r 8D disallowance comes into play only in relation to an assessee’s exempt income than having any independent application. 13. We have given our thoughtful consideration to Revenue’ stand placing reliance on the CBDT’s Circular No.5/2014 dt.11/02/2014. The…

Vivimed Labs Limited, Hyderabad vs. Assistant Commissioner of Income Tax Central Circle2-(3), Hyderabad

ITA 187/HYD/2021[2015-16]Status: DisposedITAT Hyderabad12 Apr 2022AY 2015-16

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

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Y.V.S.T. Sai – CIT DR
Section 143(3)

…Rs.2,05,29,751/-; assessment year-wise; respectively. Suffice to say, we do not find any exempt income to have been derived in all these four years. Case laws CIT Vs. Chettinad Logistics Pvt. Ltd [80 taxmann.com 221] (Madras), CIT Vs. Cortech Energy Pvt. Ltd. 223 Taxmann 130 (Guj) and Cheminvest Ltd. Vs. Cit (2015) 378 ITR 33 (Delhi) holds that section 14A r.w.r 8D disallowance comes into play only in relation to an assessee’s exempt income than having any independent application. 13. We have given our thoughtful consideration to Revenue’ stand placing reliance on the CBDT’s Circular No.5/2014 dt.11/02/2014. The…

Vivimed Labs Limited, Hyderabad vs. Assistant Commissioner of Income Tax 2(3), Hyderabad

ITA 186/HYD/2021[2014-15]Status: DisposedITAT Hyderabad12 Apr 2022AY 2014-15

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

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri Y.V.S.T. Sai – CIT DR
Section 143(3)

…Rs.2,05,29,751/-; assessment year-wise; respectively. Suffice to say, we do not find any exempt income to have been derived in all these four years. Case laws CIT Vs. Chettinad Logistics Pvt. Ltd [80 taxmann.com 221] (Madras), CIT Vs. Cortech Energy Pvt. Ltd. 223 Taxmann 130 (Guj) and Cheminvest Ltd. Vs. Cit (2015) 378 ITR 33 (Delhi) holds that section 14A r.w.r 8D disallowance comes into play only in relation to an assessee’s exempt income than having any independent application. 13. We have given our thoughtful consideration to Revenue’ stand placing reliance on the CBDT’s Circular No.5/2014 dt.11/02/2014. The…

Deputy Commissioner of Income-Tax, Circle-3(1), Visakhapatnam vs. Deccan Ferro Alloys Pvt Ltd, Visakhapatnam

In the result, appeal of the Revenue is dismissed

ITA 238/VIZ/2021[2015-16]Status: DisposedITAT Visakhapatnam31 Mar 2022AY 2015-16

Bench: Shri Duvvuru R L Reddy, Hon’Ble & Shri S. Balakrishnan, Hon'Ble

For Appellant: NoneFor Respondent: Shri SPG Mudaliar, Sr. AR
Section 143(2)Section 143(3)Section 14ASection 40A(2)(b)

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI DUVVURU R L REDDY, HON’BLE JUDICIAL MEMBER & SHRI S. BALAKRISHNAN, HON'BLE ACCOUNTANT MEMBER I.T.A. No.238/VIZ/2021 (Asst. Year : 2015-16) DCIT, Vs. M/s. Deccan Ferro Alloys Circle-3(1), Pvt Ltd., Visakhapatnam. Visakhapatnam. PAN: AAACD 0536 D (Appellant) (Respondent) Assessee by: None Revenue by: Shri SPG Mudaliar, Sr. AR Date of hearing: 08/03/2022 Date of pronouncement: 07/04/2022 O R D E R PER S. BALAKRISHNAN, ACCOUNTANT MEMBER This appeal filed by the Revenue against the order of the Ld. CIT (A), National Faceless Appeal Ce…

Sandip V Parikh, Ahmedabad vs. ACIT, Circle-4(2), Ahmedabad

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

ITA 51/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad31 Mar 2022AY 2013-14

Bench: Shri Waseem Ahmed & Ms Madhumita Royआयकर अपील सं./Ita No.51/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2013-14 Sandip V. Parikh, A.C.I.T., 5, Malay Villa Bunglows, Vs. Circle-4(2), Sola Science City Road, Ahmedabad. Sola, Ahmedabad.

For Appellant: Shri Deepak Shah, A.RFor Respondent: Shri D.B. Gohil, Sr.D.R
Section 14ASection 2(47)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ A’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER And Ms MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA No.51/AHD/2019 िनधा"रण वष"/Asstt. Year: 2013-14 Sandip V. Parikh, A.C.I.T., 5, Malay Villa Bunglows, Vs. Circle-4(2), Sola Science City Road, Ahmedabad. Sola, Ahmedabad. PAN: ACZPP0214C (Applicant) (Respondent) Assessee by : Shri Deepak Shah, A.R Revenue by : Shri D.B. Gohil, Sr.D.R सुनवाई क" तारीख/Date of Hearing : 01/03/2022 घोषणा क" तारीख /Date of Pronouncement: 31/…

M/S Sudhakar Barter Pvt. Ltd.(Now Sudhakar Barter LLP), New Delhi vs. ITO, Ward-1(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 141/KOL/2021[2015-16]Status: DisposedITAT Kolkata31 Mar 2022AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.141/Kol/2021 Assessment Year: 2015-16 M/S Sudhakar Barter Pvt. Ltd (Now Sudhakar Barter Llp) …….......... .........................................……….……Appellant 2Nd Floor, C-11, Shivalik Colony, Malviya Nagar, New Delhi [Pan: Aakcs5649E] Vs. Ito, Ward-1(3), Kolkata..……….…..…...............……........……...…..…..Respondent Appearances By: None Appeared On Behalf Of The Appellant. Smt. Ranu Biswas, Addl. Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 31, 2022 Date Of Pronouncing The Order : March 31, 2022

Section 14ASection 250Section 250(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.141/Kol/2021 Assessment Year: 2015-16 M/s Sudhakar Barter Pvt. Ltd (Now Sudhakar Barter LLP) …….......... .........................................……….……Appellant 2nd Floor, C-11, Shivalik Colony, Malviya Nagar, New Delhi [PAN: AAKCS5649E] vs. ITO, Ward-1(3), Kolkata..……….…..…...............……........……...…..…..Respondent Appearances by: None appeared on behalf of the appellant. Smt. Ranu Biswas, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concludin…

The DCIT, Circle-4(1)(1), Ahmedabad vs. Sintex Industries Ltd., Ahmedabad

Appeal of the Revenue is dismissed

ITA 1477/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad25 Mar 2022AY 2015-16
For Appellant: Shri Ajai Pratap Singh, CIT/D.RFor Respondent: Ms. Amrin Pathan, A.R
Section 10(34)Section 115JSection 14ASection 250(6)Section 263

…oing through the above, we find that while restricting the disallowance of expenses u/s. 14A of the Act to the extent of exempt income earned,the Ld.CIT(A) followed the decision of the Hon’ble Gujarat High Court in the case of Corrtech Energy Pvt. Ltd. (2014) 223 Taxmann.com 130 and also that of the Hon’ble High Court of Madras in the case of CIT vs. Chhetinad Logistics Pvt. Ltd. (2017) 80 Taxmann.com 221 which decision he noted was upheld by the Hon’ble Supreme Court on merits. The SLP filed by the revenue against the said judgment being dismissed, both on the ground of delay as well as on merits in the order of…

Dy. Commissioner of Income Tax, Circle-2(1), Hyderabad vs. Ind Barath Power Gencom Limited, Hyderabad

ITA 923/HYD/2019[2015-16]Status: DisposedITAT Hyderabad21 Mar 2022AY 2015-16

Bench: Shri A.Mohan Alankamony & Shri S.S.Godaraappellant Respondent

For Appellant: Shri Samuel Nagadesi, ARFor Respondent: Shri Rajendra Kumar, CIT-DR
Section 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER Appellant Respondent ITA No. A.Y. M/s.Ind Bharath Power DCIT, Circle-2(1), Gencom Limited, 921/Hyd/19 2014-15 Hyderabad Hyderabad [PAN: AABCI4616A] M/s.Ind Bharath Power 922/Hyd/19 2014-15 DCIT, Circle-2(1), Infra Limited, Hyderabad Hyderabad 923/Hyd/19 2015-16 [PAN: AABCK3883B] For Assessee : Shri Samuel Nagadesi, AR For Revenue : Shri Rajendra Kumar, CIT-DR Date of Hearing : 08-02-2022 Date of Pronouncement : 21-03-2022 O R D E R…

Dy. Commissioner of Income Tax, Circle-2(1), Hyderabad vs. Ind Barath Power Infra Limited, Hyderabad

ITA 922/HYD/2019[2014-15]Status: DisposedITAT Hyderabad21 Mar 2022AY 2014-15

Bench: Shri A.Mohan Alankamony & Shri S.S.Godaraappellant Respondent

For Appellant: Shri Samuel Nagadesi, ARFor Respondent: Shri Rajendra Kumar, CIT-DR
Section 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER Appellant Respondent ITA No. A.Y. M/s.Ind Bharath Power DCIT, Circle-2(1), Gencom Limited, 921/Hyd/19 2014-15 Hyderabad Hyderabad [PAN: AABCI4616A] M/s.Ind Bharath Power 922/Hyd/19 2014-15 DCIT, Circle-2(1), Infra Limited, Hyderabad Hyderabad 923/Hyd/19 2015-16 [PAN: AABCK3883B] For Assessee : Shri Samuel Nagadesi, AR For Revenue : Shri Rajendra Kumar, CIT-DR Date of Hearing : 08-02-2022 Date of Pronouncement : 21-03-2022 O R D E R…

Dy. Commissioner of Income Tax, Circle-2(1), Hyderabad vs. Ind Barath Power Gencom Limited, Hyderabad

ITA 921/HYD/2019[2014-15]Status: DisposedITAT Hyderabad21 Mar 2022AY 2014-15

Bench: Shri A.Mohan Alankamony & Shri S.S.Godaraappellant Respondent

For Appellant: Shri Samuel Nagadesi, ARFor Respondent: Shri Rajendra Kumar, CIT-DR
Section 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A” : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER Appellant Respondent ITA No. A.Y. M/s.Ind Bharath Power DCIT, Circle-2(1), Gencom Limited, 921/Hyd/19 2014-15 Hyderabad Hyderabad [PAN: AABCI4616A] M/s.Ind Bharath Power 922/Hyd/19 2014-15 DCIT, Circle-2(1), Infra Limited, Hyderabad Hyderabad 923/Hyd/19 2015-16 [PAN: AABCK3883B] For Assessee : Shri Samuel Nagadesi, AR For Revenue : Shri Rajendra Kumar, CIT-DR Date of Hearing : 08-02-2022 Date of Pronouncement : 21-03-2022 O R D E R…

ACIT Central-2, Indore vs. Shri Sanjay Shukla, Indore

In the result, appeal of the assessee in ITANo

ITA 49/IND/2021[2013-14]Status: DisposedITAT Indore15 Mar 2022AY 2013-14

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year:2013-14 Shri Sanjay Shukla, Acit Central Circle 2, बनाम/ Indore Indore Vs. (Appellant) (Respondent ) P.A. No.Ahqps8882D Assessment Year:2013-14 Acit Central Circle 2, Shri Sanjay Shukla, बनाम/ Indore Indore Vs. (Appellant) (Respondent ) P.A. No.Ahqps8882D Assessee By Shri Pankaj Shah, Ca Revenue By Shri P.K. Mitra, Cit-Dr Date Of Hearing: 21.01.2022 Date Of Pronouncement: 15.03..2022 आदेश / O R D E R

Section 143(2)Section 143(3)Section 14ASection 68

…ct, we find that the assessee has not earned any dividend income during the year. Therefore, Ld. CIT(A) has rightly deleted the addition in light of the judgment of Shri Sanjay Shukla, Indore Hon'ble Gujarat High Court in the case of CIT vs. Correcteh Energy 272 CTR 262 and another judgment of Hon'ble Gujarat High Court Pr. CIT vs. Adani Enterprises Ltd. (2017) 248 Taxman 449 (Guj.). Thus, we find no infirmity in finding of Ld. CIT(A) deleting disallowance u/s 14A of the Act at Rs. 3,57,623/-. Thus, ground no.2 raised by the revenue is dismissed. 14. Revenue’s Ground no.3 is towards deletion of adhoc disallowan…

Shri Sanjay Shukla, Indore vs. ACIT, Central-Cirle-2, Indore

In the result, appeal of the assessee in ITANo

ITA 333/IND/2020[2013-14]Status: DisposedITAT Indore15 Mar 2022AY 2013-14

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year:2013-14 Shri Sanjay Shukla, Acit Central Circle 2, बनाम/ Indore Indore Vs. (Appellant) (Respondent ) P.A. No.Ahqps8882D Assessment Year:2013-14 Acit Central Circle 2, Shri Sanjay Shukla, बनाम/ Indore Indore Vs. (Appellant) (Respondent ) P.A. No.Ahqps8882D Assessee By Shri Pankaj Shah, Ca Revenue By Shri P.K. Mitra, Cit-Dr Date Of Hearing: 21.01.2022 Date Of Pronouncement: 15.03..2022 आदेश / O R D E R

Section 143(2)Section 143(3)Section 14ASection 68

…ct, we find that the assessee has not earned any dividend income during the year. Therefore, Ld. CIT(A) has rightly deleted the addition in light of the judgment of Shri Sanjay Shukla, Indore Hon'ble Gujarat High Court in the case of CIT vs. Correcteh Energy 272 CTR 262 and another judgment of Hon'ble Gujarat High Court Pr. CIT vs. Adani Enterprises Ltd. (2017) 248 Taxman 449 (Guj.). Thus, we find no infirmity in finding of Ld. CIT(A) deleting disallowance u/s 14A of the Act at Rs. 3,57,623/-. Thus, ground no.2 raised by the revenue is dismissed. 14. Revenue’s Ground no.3 is towards deletion of adhoc disallowan…

M/S.Goldman Sachs Services Private Limited, Bangalore vs. Asst. Commissioner of Income Tax, Bangalore

In the result, appeal by the assesse is partly allowed

ITA 474/BANG/2017[2012-13]Status: DisposedITAT Bangalore11 Mar 2022AY 2012-13

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranit(Tp)A No.474/Bang/2017 Assessment Year : 2012-13 Goldman Sachs Services Pvt. Ltd., Acit, Vs. Crystal Downs, Embassy Golf Links Business Circle – 3(1)(2), Park, Off Intermediate Ring Road, Bengaluru. Bengaluru-560 071. Pan : Aaccg 2435 N Assessee Respondent Assessee By : Shri. Madhur Agarwal, Advocate Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru Date Of Hearing : 07.03.2022 Date Of Pronouncement : 11.03.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. Madhur Agarwal, AdvocateFor Respondent: Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 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 1TR 97 (Guj) and the third of the Allahabad High Court in CIT v. Shivam Motors (P) Ltd. (decision dated 5th May, 2014, in T.A. No. 88 of ITA No.1 1071Bang12016 2014). These three decisions reiterated the position that when an assessee had not earned any taxable income in the relevant assessment year in question IT(TP)A No.…