CIT v. Essar Tele

401 ITR 445Supreme Court of India2018#471 most cited

What is CIT v. Essar Tele authority for?

Rule 8D of the Income Tax Rules, read with Section 14A, applies prospectively. It cannot be applied to any assessment year prior to Assessment Year 2008-09.

198

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Essar Teleholdings Ltd. · Essar Teleholdings · Section 14A · Rule 8D · prospective application · disallowance exempt income · AY 2008-09 · Rule 8D applicability · Supreme Court

Also reported as

90 Taxmann.com 2286 Taxmann 435

Sections most often in play

Section 14ASection 36(1)(vii)Section 115JBSection 143(3)Section 36(1)(viia)Section 37(1)Section 40(a)(ia)Section 36(1)(viii)

Issues it is cited on

section 115jaemployees contribution to pfsection 114section 36(1)(viia)section 14a(2)section 2(24)(x)section 36(1)(vii)section 80icsection 2(24)section 36(1)disallowance under section 14asection 41

Judgments citing CIT v. Essar Tele

Sbi Capital Markets Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 1511/MUM/2014[2005-06]Status: DisposedITAT Mumbai13 Jan 2023AY 2005-06

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

Sbi Capital Markets Ltd., Mumbai vs. A.C.I.T. Ltu, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 2484/MUM/2012[2005-06]Status: DisposedITAT Mumbai13 Jan 2023AY 2005-06

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

Sbi Capital Market Limited, Mumbai vs. Addl. C.I.T. Ltu, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 1839/MUM/2011[2007-08]Status: DisposedITAT Mumbai13 Jan 2023AY 2007-08

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

Sbi Capital Markets Ltd, Mumbai vs. ACIT Ltu, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 5144/MUM/2009[2006-07]Status: DisposedITAT Mumbai13 Jan 2023AY 2006-07

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd, Mumbai vs. The ACIT Cir 4(2), Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 7268/MUM/2008[2003-2004]Status: DisposedITAT Mumbai13 Jan 2023AY 2003-2004

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd., Mumbai vs. DCIT Cir. 4(2), Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 2345/MUM/2007[2003-2004]Status: DisposedITAT Mumbai13 Jan 2023AY 2003-2004

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd., Mumbai vs. DCIT Cir. 4(2), Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 1088/MUM/2007[2001-2002]Status: DisposedITAT Mumbai13 Jan 2023AY 2001-2002

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd., Mumbai vs. DCIT Cir. 4(2), Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 7538/MUM/2005[1996-1997]Status: DisposedITAT Mumbai13 Jan 2023AY 1996-1997

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd., Mumbai vs. CIT (A)-IV, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 7264/MUM/2005[2002-2003]Status: DisposedITAT Mumbai13 Jan 2023AY 2002-2003

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

DCIT Cir. 4(2), Mumbai vs. M/S. S.B.I Capital Markets Ltd., Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 6729/MUM/2004[2001-2002]Status: DisposedITAT Mumbai13 Jan 2023AY 2001-2002

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

Sbi Capital Markets Ltd., Mumbai vs. DCIT Range 4(2), Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 4248/MUM/2004[2000-01]Status: DisposedITAT Mumbai13 Jan 2023AY 2000-01

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

Sbi Capital Markets Ltd., Mumbai vs. JCIT Special Range, Mumbai

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 4246/MUM/2004[98-99]Status: DisposedITAT Mumbai13 Jan 2023

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd vs. The Jt CIT Sr-27

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 3791/MUM/2004[1997-1998]Status: DisposedITAT Mumbai13 Jan 2023AY 1997-1998

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

M/S. Sbi Capital Markets Ltd vs. The ACIT RG-4(3)(3)

In the result the, all the appeals of the assesse are partly allowed and the appeal of the revenue is dismissed

ITA 3790/MUM/2004[1996-1997]Status: DisposedITAT Mumbai13 Jan 2023AY 1996-1997

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh, Accountant, Member Ita No.3790 /Mum/2004 (A.Y.1996-97)

…P a g e | 1 19 Appeals SBI Capital Market Ltd. Vs. ACIT,Range 4(3)(3) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT, MEMBER ITA No.3790 /Mum/2004 (A.Y.1996-97) SBI Capital Markets Ltd. Vs. Asst. Commissioner of 202, Maker Tower E, Income-tax Range-4(3)(3) Cuffe Parede, Mumbai Mumbai – 400 005 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACS7339D Appellant .. Respondent ITA Nos.3791 & 4246/Mum/2004 (A.Y.1997-98 & 1998-99) SBI Capital Markets Ltd. Vs. Jt. Commissioner of 202, Maker Tower E, Income-tax Special Cuffe Parede…

DCIT, New Delhi vs. M/S Gen X Commodities (P) Ltd., New Delhi

In the result, the appeal of the revenue is dismissed

ITA 3562/DEL/2016[2012-13]Status: DisposedITAT Delhi03 Jan 2023AY 2012-13

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Ved Jain, Adv. &For Respondent: Sh. P. Praveen Sidharth, CIT DR
Section 132Section 14ASection 2(22)(e)

…e, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. Dividend u/s 2(22)(e): 4. At the outset, we find that this matter stands covered by the order of the ITAT in the assessee’s own case in ITA No. 3561/Del/2016 for A.Y. 2011-12. 5. We have gone through the facts on rec…

Jm Morgan Stanley Securities P. Ltd, Mumbai vs. Addl CIT 4(3), Mumbai

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

ITA 7118/MUM/2010[2006-07]Status: DisposedITAT Mumbai25 Nov 2022AY 2006-07

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri Sunil M. LalaFor Respondent: Ms. Vatsalaa Jha
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 40Section 40A(2)

…her hand, learned DR vehemently relied upon the order passed by the lower authorities. 34. We have considered the rival submissions and perused the material available on record. We find that the Hon’ble Supreme Court in CIT vs Essar Teleholdings Ltd., [2018] 401 ITR 445 (SC) held that Rule 8D is prospective in operation and cannot be applied to any assessment year prior to the J.M. Morgan Stanley Securities Pvt. Ltd. ITA No.7118/Mum./2010 assessment year 2008-09. Thus, respectfully following the aforesaid decision, we are of the considered view that the AO has erred in applying Rule 8D of the Rules in the presen…

ACIT, Circle- 29(1), New Delhi vs. Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 7242/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Nov 2022AY 2014-15

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2018 : A.Y. 2012-13 ITA No. 6365/Del/2018 : A.Y. 2013-14 Amortization of Lease Payment: Ground No. 1 & 2 16. The f…

ACIT, Circle- 29(1), New Delhi vs. Krishak Bharati Cooperative Ltd., New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 7241/DEL/2018[2013-14]Status: DisposedITAT Delhi14 Nov 2022AY 2013-14

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2018 : A.Y. 2012-13 ITA No. 6365/Del/2018 : A.Y. 2013-14 Amortization of Lease Payment: Ground No. 1 & 2 16. The f…

Krishak Bharati Cooperative Ltd., New Delhi vs. ACIT, Circle- 30(1), New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 6365/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Nov 2022AY 2014-15

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2018 : A.Y. 2012-13 ITA No. 6365/Del/2018 : A.Y. 2013-14 Amortization of Lease Payment: Ground No. 1 & 2 16. The f…

Krishak Bharati Cooperative Ltd., New Delhi vs. ACIT, Circle- 30(1), New Delhi

In the result, the appeals of the assessee are allowed and that of the Revenue are dismissed

ITA 6364/DEL/2018[2013-14]Status: DisposedITAT Delhi14 Nov 2022AY 2013-14

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 6364/Del/2018 : Asstt. Year : 2013-14 Ita No. 6365/Del/2018 : Asstt. Year : 2014-15 M/S Krishak Bharati Cooperative Ltd., Vs Acit, A-60, Kailash Colony, Circle-30(1), New Delhi-110048 New Delhi-110002 (Appellant) (Respondent) Pan No. Aaaak0203G Ita No. 7241/Del/2018 : Asstt. Year : 2013-14 Ita No. 7242/Del/2018 : Asstt. Year : 2014-15 Acit, Vs M/S Krishak Bharati Cooperative Ltd., Circle-29(1), A-60, Kailash Colony, New Delhi-110002 New Delhi-110048 (Appellant) (Respondent) Pan No. Aaaak0203G Assessee By : Sh. K.V.S.R. Krishna, Ca & Sh. Aman Goel, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr & Sh. Ravi Kant Choudhary, Sr. Dr Date Of Hearing: 01.09.2022 Date Of Pronouncement: 14.11.2022

For Appellant: Sh. K.V.S.R. Krishna, CA &For Respondent: Ms. Sapna Bhatia, CIT DR &
Section 143(3)Section 14ASection 90

…e, placing reliance on the judgments in the case of PCIT Vs. IL&FS Energy Development Pvt. Ltd. 399 ITR 483 (Del.), Chem Investment Ltd. Vs. CIT 378 ITR 33 (Del.), PCIT Vs Kohinoor Projects Pvt. Ltd. 121 Taxmann.com 177, CIT Vs. ESSAR Teleholdings Ltd. (2018) 3 SCC 253 and CIT Vs. Oil Industry Development Board (SLP) (Civil) No. 2755/2019 dated 08.02.2019, we hold that no disallowance is called for. ITA Nos. 6364 & 6365/Del/2018 Krishak Bharati Cooperative Ltd. Assessee’s Appeal ITA No. 6364/Del/2018 : A.Y. 2012-13 ITA No. 6365/Del/2018 : A.Y. 2013-14 Amortization of Lease Payment: Ground No. 1 & 2 16. The f…