CIT v. Hero Cycles Ltd.

323 ITR 518High Court2010#150 most cited

What is CIT v. Hero Cycles Ltd. authority for?

Disallowance under Section 14A, for expenditure incurred in relation to exempt income, is not permissible when the assessee has not earned any exempt income, such as dividend income under Section 10(34), during the year under consideration.

470

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Hero Cycles Ltd. · Section 14A disallowance · no exempt income earned · Section 10(34) dividend · expenditure nexus · disallowance if no dividend income · 323 ITR 518 · Hero Cycles 14A · exempt income disallowance

Also reported as

189 Taxmann 504 ITR-OL 246221 CTR 435

Sections most often in play

Section 14ASection 142(1)Section 143(3)Section 8DSection 143(2)Section 115JBSection 37(1)Section 43B
Read the full judgment

Issues it is cited on

section 10(34)disallowance under section 14adisallowance u/s 14asection 14asection 115jsection 115jbsection 37section 37(1)section 10section 115previous yearassistant commissioner

Judgments citing CIT v. Hero Cycles Ltd.

M/S Nasa Agro Industries Pvt. Ltd, Fazilka vs. The Asstt. Commissioner of Income Tax, Circle- II, Bathinda

In the result, the appeal i

ITA 536/ASR/2017[2013-14]Status: DisposedITAT Amritsar21 Feb 2019AY 2013-14

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

For Appellant: Sh. P.K. Anand (Ld. CA)For Respondent: Smt. Ratinder Kaur (Ld. DR)
Section 14ASection 250(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE SH. N.S.SAINI, ACCOUNTANT MEMBER AND SH. N.K.CHOUDHRY, JUDICIAL MEMBER ITA Nos.536 & 537(Asr)/2017 Assessment Years:2013-14 & 2014-15 M/s. Nasa Agro Industries Pvt. Vs. Asst. CIT, Ltd., Village Painchanwali, Circle-II, Tehsil & Dist. Fazillka. Bhatinda. [PAN:AAACN 7050J] (Appellant) (Respondent) Appellant by: Sh. P.K. Anand (Ld. CA) Respondent by: Smt. Ratinder Kaur (Ld. DR) Date of hearing: 19.02.2019 Date of pronouncement: 21.02.2019 ORDER PER N.K.CHOUDHRY, JM: The aforesaid appeals have been preferred by the Assessee/Appellant agai…

Asstt.Commissioner of Income Tax, Circle-3(1)(1), Ahmedabad vs. M/S. Priyal International P.Ltd., Ahmedabad

In the result Ground No. 4 of the Revenues appeal is dismissed

ITA 3115/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad15 Feb 2019AY 2011-12

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 3115/Ahd/2015 ("नधा"रण वष" / Assessment Year: 2011-12)

For Appellant: Lalit P. Jain, Sr. DR
Section 10ASection 14A

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ ‘B’ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI MAHAVIR PRASAD, JUDICIAL MEMBER आयकर अपील सं./I.T.A. No. 3115/Ahd/2015 ("नधा"रण वष" / Assessment Year: 2011-12) Add. CIT, M/s Priyal International बनाम/ Range-5, Pvt. Ltd. Vs. 3rd Floor, Landmark House Ahmedabad Mithakhali Six Roads Navrangpura, Ahmedabad- 380009 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAECP4640A .. (अपीलाथ" /Appellant) (""यथ" / Respondent) अपीलाथ" ओर से /Appellant by : Lalit P. Jain, Sr. DR ""यथ" क" ओर से / Respondent Mehul K…

M/S Brigade Enterprises Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the assessee’s appeals for assessment years 2008-09 to 2010-11 are partly allowed for statistical purposes

ITA 530/BANG/2018[2010-11]Status: DisposedITAT Bangalore08 Feb 2019AY 2010-11

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadale

For Appellant: Shri. B. R. Sudheendra, CAFor Respondent: Shri. R. N. Siddappaji, Addl. CIT
Section 143(3)Section 14A

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

Brigade Enterprises Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the assessee’s appeals for assessment years 2008-09 to 2010-11 are partly allowed for statistical purposes

ITA 529/BANG/2018[2009-10]Status: DisposedITAT Bangalore08 Feb 2019AY 2009-10

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadale

For Appellant: Shri. B. R. Sudheendra, CAFor Respondent: Shri. R. N. Siddappaji, Addl. CIT
Section 143(3)Section 14A

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

Brigade Enterprises Ltd, Bangalore vs. Deputy Commissioner of Income Tax Circle-1(1)(2), Bangalore

In the result, the assessee’s appeals for assessment years 2008-09 to 2010-11 are partly allowed for statistical purposes

ITA 528/BANG/2018[2008-09]Status: DisposedITAT Bangalore08 Feb 2019AY 2008-09

Bench: Shri Jason P Boaz & Shri Pavan Kumar Gadale

For Appellant: Shri. B. R. Sudheendra, CAFor Respondent: Shri. R. N. Siddappaji, Addl. CIT
Section 143(3)Section 14A

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

DCIT 8(3)(1), Mumbai vs. Tata Teleservices (Mah) Ltd, Navi Mumbai

In the result, appeal of the revenue is dismissed

ITA 2519/MUM/2015[2009-10]Status: DisposedITAT Mumbai30 Jan 2019AY 2009-10

Bench: Shri G. S. Pannu, Vice- & Shri Pawan Singhdcit-8(3)(1) M/S Tata Teleservices (Mah) Room No. 615, 6Th Floor, Ltd., D-26, Ttc Indl Area Aayakar Bhavan, M.K. Road, Midc, Sanpada, P.O. Turbhe, Mumbai-20. Navi Mumbai-400703. Vs. Pan: Aaach1458C Appellant Respondent Appellant By : Shri R. Manjunatha Swamy (Cit-Dr) Respondent By : Shri Hiten Chande (Ar) Date Of Hearing : 21.01.2019 Date Of Pronouncement : 30.01.2019 Order Under Section 254(1)Of Income Tax Act

For Appellant: Shri R. Manjunatha SwamyFor Respondent: Shri Hiten Chande (AR)
Section 14ASection 194HSection 201(1)Section 254(1)Section 40

…n shown to us. The Punjab and Haryana High Court in Commissioner of Income Tax, Faridabad v. M/s. Lakhani Marketing Incl., ITA No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT v. Hero Cycles Limited, [2010] 323 ITR 518 and CIT v. 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 v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.). The third decision is of the Allahabad High Court in Income Tax…

Kare Electronics & Development Private Limited, Bangalore vs. The Assistant Commissioner of Income Tax Circle-11(5), Bangalore

In the result, the assessee’s appeal for assessment year 2009-10 is partly allowed

ITA 799/BANG/2017[2009-10]Status: DisposedITAT Bangalore17 Jan 2019AY 2009-10

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2009-10 M/S. Kare Electronics & Vs. The Assistant Commissioner Of Development Private Limited, Income Tax, Flat No.101, 1St Floor, Eden Park, Circle – 11(5), No.20, Vittal Mallya Road, Bangalore. Bangalore – 560 001. Pan: Aabck 7679 R Appellant Respondent

For Appellant: Shri. K. R. Pradeep, CAFor Respondent: Shri. Vikas K. Suryawamshi, Addl. CIT
Section 143(1)Section 143(3)Section 14ASection 234B

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

M/S Pranava Electronics Private Limited, Bangalore vs. Income Tax Officer Ward-5(1)(3), Bangalore

In the result, the assessee’s appeal for assessment year 2014-15 is partly allowed for statistical purposes

ITA 2526/BANG/2017[2014-15]Status: DisposedITAT Bangalore02 Jan 2019AY 2014-15

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2014-15 M/S. Pranava Electronics Pvt. Ltd., Vs. The Income-Tax Officer, Flat No. 101, 1St Floor, Eden Park, Ward – 5(1)(3), No.20, Vittal Mallya Road, Bangalore. Bangalore – 560 001. Pan : Aadcp 2196 C Appellant Respondent Assessee By : Smt. Girija, Ca Revenue By : Shri. Vikas K. Suryawamshi, Addl. Cit Date Of Hearing : 19.12.2018 Date Of Pronouncement : 02.01.2019

For Appellant: Smt. Girija, CAFor Respondent: Shri. Vikas K. Suryawamshi, Addl. CIT
Section 10(34)Section 143(3)Section 14A

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

Assistant Commissioner of Income Tax Central Circle-2(4), Bangalore vs. Ms Allinace Infrastructure Projects Pvt Ltd, Bangalore

In the result, appeal of the Revene is dismissed

ITA 2402/BANG/2018[2012-13]Status: DisposedITAT Bangalore19 Dec 2018AY 2012-13

Bench: Shri. A. K. Garodia

For Appellant: Shri. Suman Kumar, CAFor Respondent: Smt. Sri Nandini Das, Addl. CIT
Section 10Section 14A

…e against Revenue. The first was the decision in CIT v. Lakhani Marketing Inc . [2014] 226 Taxman 45/49 taxmann.com 257 of the High Court of Punjab and Haryana which in turn referred to two earlier decisions of the same Court in CIT v. Hero Cycles Ltd. [2010] 323 ITR 518/189 Taxman 50 and CIT v. Winsome Textile Industries Ltd . [2009] 319 ITR 204. The second was of the Gujarat High Court in CIT v. Corrtech Energy (P.) Ltd. [2014] 223 Taxman 130/45 taxmann.com 116 and the third of the Allahabad High Court in CIT v. Shivam Motors (P.) Ltd . [2015] 230 Taxman 63/55 taxmann.com 262. These three decisions reiterated t…

DCIT, C-I, Ludhiana vs. M/S Rico Auto Industries Limited, Ludhiana

Appeal of the Revenue is dismissed

ITA 801/CHANDI/2018[2016-17]Status: DisposedITAT Chandigarh18 Dec 2018AY 2016-17
For Appellant: Shri. Vipin GuptaFor Respondent: Smt. Renu Amitabh
Section 14Section 14ASection 36(1)(iii)

…that unless and until there is a receipt of exempted income for the concerned assessment years, section 14A cannot be invoked. In doing so, the Hon'ble High Court made a reference to two earlier decisions of the same High Court: CIT Vs. Hero Cycles Ltd[2010] 323 ITR 518 and CIT Vs. Winsome Industries Ltd.[2009] 319 ITR 204, to hold that section 14 A cannot be invoked when no exempt income was earned. Subsequently, on 5thof September, 2014, the Hon'ble Delhi High Court followed the aforesaid decision of the Punjab and Haryana High Court in the case of CIT Vs. Holcim India (P.) Ltd.[2015] 57 taxmann.com 28. 5. Sin…

J V Holdings Pvt Ltd, Bangalore vs. The Deputy Commissioner of Income Tax Circle-4(1)(1), Bangalore

In the result, the assessee’s appeal for assessment year 2012-13 is partly allowed as indicated above

ITA 1337/BANG/2018[2012-13]Status: DisposedITAT Bangalore13 Dec 2018AY 2012-13

Bench: Shri N. V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13 M/S. J. V. Holdings Pvt. Ltd., Vs. The Deputy Commissioner Of 1St Floor, Embassy Point, Income-Tax, 150 Infantry Road, Circle – 4[1][1], Bangalore – 560 001. Bangalore. Pan : Aabcj 9763 F Appellant Respondent Assessee By : Shri. Seetharam, Ca Revenue By : Smt. Nandhini Das, Addl. Cit Date Of Hearing : 20.11.2018 Date Of Pronouncement : 13.12.2018

For Appellant: Shri. Seetharam, CAFor Respondent: Smt. Nandhini Das, Addl. CIT
Section 14Section 143(3)Section 14A

…ch we have noted earlier i.e.: - M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

Alok Kumar Sarkar, Hooghly vs. CIT, Kolkata-8, Kolkata

In the result, appeal of the assessee is allowed

ITA 454/KOL/2015[2010-2011]Status: DisposedITAT Kolkata12 Dec 2018AY 2010-2011

Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi) Assessment Year : 2010-11 Alok Kumar Sarkar..................………...................................…..……………….…...……..…….............Appellant C/O S.N. Ghosh & Associates, Advocates Seben Brothers’ Lodge P.O. Buroshibtala P.S. Chinsurah Dist. Hooghly Pin – 712 105 [Pan : Akkps 9552 R] Vs. Commissioner Of Income-(8), Kolkata...............................................………………...…...........Respondent Appearances By: Shri Somnath Ghosh, Advocate, Appeared On Behalf Of The Assessee. Shri Abani Kanta Nayak, Cit Sr. D/R. Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 6Th , 2018 Date Of Pronouncing The Order : December 12Th , 2018 Order Per J. Sudhakar Reddy, Am :-

Section 143(3)Section 14ASection 263Section 263(1)Section 40A(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA (Before Sri J. Sudhakar Reddy, Accountant Member & Sri S.S. Viswanethra Ravi, Judicial Member) Assessment Year : 2010-11 Alok Kumar Sarkar..................………...................................…..……………….…...……..…….............Appellant C/o S.N. Ghosh & Associates, Advocates Seben Brothers’ Lodge P.O. Buroshibtala P.S. Chinsurah Dist. Hooghly PIN – 712 105 [PAN : AKKPS 9552 R] Vs. Commissioner of Income-(8), Kolkata...............................................………………...…...........Respondent Appearances by: Shri Somnath Ghosh, Advocate, appeare…

DCIT, New Delhi vs. M/S Jsl Ltd., Hisar

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 4110/DEL/2013[2007-08]Status: DisposedITAT Delhi19 Nov 2018AY 2007-08

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…hat if no expenditure is incurred in relation to the exempt income, no disallowance can be made under section 14A of the said Act.‖ (emphasis supplied) Attention is also invited to the decision of Punjab & Haryana High Court in the case of CIT vs Hero Cycles: 323 ITR 518,wherein, too, High Court held that disallowance under section 14A can be made only if assessing officer establishes proximate nexus of expenditure with exempt income. In that case, the appellant had earned exempt dividend income during the relevant year. The assessing officer made disallowance of expenses under section 14A of the Act on the basis…

Jindal Stainless Ltd., Hisar vs. DCIT, New Delhi

Accordingly, ground number 2 of the appeal of the learned AO for 2007 – 08 is dismissed

ITA 6337/DEL/2012[2008-09]Status: DisposedITAT Delhi19 Nov 2018AY 2008-09

Bench: Smt Diva Singh & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Kumar Parnav, Sr. DR
Section 92CSection 92C(2)

…hat if no expenditure is incurred in relation to the exempt income, no disallowance can be made under section 14A of the said Act.‖ (emphasis supplied) Attention is also invited to the decision of Punjab & Haryana High Court in the case of CIT vs Hero Cycles: 323 ITR 518,wherein, too, High Court held that disallowance under section 14A can be made only if assessing officer establishes proximate nexus of expenditure with exempt income. In that case, the appellant had earned exempt dividend income during the relevant year. The assessing officer made disallowance of expenses under section 14A of the Act on the basis…

DCIT, Cir-11(1), Kolkata vs. M/A. Khaitan India Ltd, Kolkata

In the result, the appeal of the revenue is dismissed

ITA 461/KOL/2017[2013-14]Status: DisposedITAT Kolkata16 Nov 2018AY 2013-14

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 461/Kol/2017 Assessment Year : 2013-14 Dcit, Circle-11(1), Kolkata -Vs- M/S Khaitan India Ltd. [Pan: Aabck 2326 B] (Appellant) (Respondent)

For Appellant: Shri Saurabh Kumar, Addl. CIT Sr. DRFor Respondent: None
Section 10(1)Section 143(3)Section 14A

…119(Delhi ITAT); (d) ITO v, Strides Arcolab Ltd. [2012] 138 ITD 323 (Mum ITAT); (e) Balarampur Chini Mills Ltd. v. Dy. CIT [2012] 20 Taxman.com 117(Kol); (t) CIT v. Reliance Utilities and Power Ltd. [2009] 313 ITR 340 (Bom); (g) CIT v. Hero Cycles Ltd. [2010] 323 ITR 518 (Punj & Haryana); (h) CIT v. HDFC Bank Ltd. [2014] 366 ITR 505 (Bom). (ii) Without prejudice to the submission made in (i) above, the assessee submits that the computation of the allegedly disallowable amount by applying Rule 8D(2)(ii) by taking into account the average value of Investments at RS.16,51,67,043 instead of the correct figure of Rs.…

Pr. Commissioner of Income Tax-2 vs. M/S Caraf Builders & Constructions Pvt. Ltd

ITA/1260/2018HC Delhi13 Nov 2018

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE ANUP JAIRAM BHAMBHANI

Section 10Section 14ASection 260A

…to us. The Punjab and Haryana High Court in Commissioner of Income Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., ITA No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. Hero Cycles Limited, [2010] 323 ITR 518 and 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 In…

Sh. Vishal Garg, Ludhiana vs. ITO, W-1(3), Ludhiana

In the result, the appeal of the assessee, therefore, stands allowed for statistical purposes

ITA 50/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh31 Oct 2018AY 2012-13
For Appellant: Shri Pankaj Bhalla, CAFor Respondent: Shri Ankur Alya, JCIT DR
Section 10Section 143(3)Section 14ASection 28Section 36(1)(iii)

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ “बी” , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’, CHANDIGARH "ीमती "दवा "संह, "या"यक सद"य एवं, एवं "ीमती अ"नपणा" ग"ता , लेखा सद"य BEFORE: SMT.DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, AM आयकर अपील सं./ ITA No.50/Chd/2018 "नधा"रण वष" / Assessment Year : 2012-13 Sh.Vishal Garg, बनाम The Income Tax Officer, D-74, Phase-V, Ward-1(3), Ludhiana. Focal Point, Ludhiana. "थायी लेखा सं./PAN NO: AAVPG3984A अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee by : Shri Pankaj Bhalla, CA राज"व क" ओर से/ Revenue by : Shri Ankur Alya, JCIT DR सनवाई क" तार"ख /Da…

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

Appeal of the assessee is partly allowed for statistical purpose

ITA 467/DEL/2014[2009-10]Status: DisposedITAT Delhi17 Oct 2018AY 2009-10

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 467/Del/2014 (A.Y 2009-10)

Section 143(3)Section 144CSection 144C(5)Section 43Section 43B

…d. v. DCIT : 394 ITR 449 (SC) - affirming Godrej & Boyce Mfg. Co. Ltd. v. CIT: 328 ITR 81 (Bom.) • Maxopp Investment Ltd. vs. CIT: 347 ITR 272 (Del.) Attention is also invited to the decision of Punjab & Haryana High Court in the case of CIT vs. Hero Cycles: 323 ITR 518, wherein, too, High Court held that disallowance under section 14A of the Act can be made only if assessing officer establishes proximate nexus of expenditure with exempt income. It has similarly been held in the following decisions: • CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H) CIT v. Reliance Utilities and Power Ltd.: 313 ITR 340 (Bom) • •…

Asst CIT Cir 6(1)(2), Mumbai vs. Ask Investment Managers P.Ltd, Mumbai

The appeal of the Revenue is allowed for statistical

ITA 534/MUM/2017[2012-13]Status: DisposedITAT Mumbai09 Oct 2018AY 2012-13

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year 2012-13 Acit M/S Ask Investment Circle-6(1)(2), Managers Pvt. Ltd. बनाम/ R. No.536, 5Th Floor, 1St Floor Bandbox House, Vs. Aayakar Bhavan, Dr. Ab Road, Worli, M. K. Road, Churchgate, Mumbai-400030 Mumbai-400020 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aafca2302P Shri Nitin Waghmode-Dr राज"व क" ओर से / Revenue By "नधा"रती क" ओर से / Assessee By Shri J.D. Mistri Sr. Advocate

Section 115JSection 14A

…ier i.e.: - CIT v. M/s Shivam Motors (P) Ltd. ITA 88 of 2014 (All.); - CIT v. Winsome Textile Industries Ltd. 319 ITR 204 (P&H) - CIT Vs. M/s Lakhani Marketing ITA 970 of 2008 (P&H) - Corrtech Energy Pvt. Ltd. 223 Taxman 130 (Guj.). - CIT Vs. Hero Cycles Ltd. 323 ITR 518. 11.2. The submission of ld. Principal CIT(DR) is that ITAT in the case of Delhi Special Bench in the case of Cheminvest Ltd. (supra) has specifically held that even if there is no exempt income, the provisions of section 14A are applicable in view of the decision of Hon’ble Supreme Court in the case of Rajednra Prasad Moody (supra). His submissi…

ACIT 13(2)(1), Mumbai vs. Sodexo Food Solutions India P. Ltd, Mumbai

Appeal stand partly allowed for statistical purposes

ITA 5781/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Oct 2018AY 2011-12

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.5781/Mum/2016 (िनधा"रण वष" / Assessment Year: 2011-12) Assistant Commissioner Of Sodexo Food Solutions India Income Tax-13(2)(1) Private Limited बनाम/ 1Stfloor, Gemstar Commercial Complex Room No.146, 1St Floor Vs. Ramchandra Lane Extension Aaykar Bhavan, M.K.Road Kanchpada, Malad(W) Mumbai -400 020 Mumbai-400 064 "थायी लेखा सं./Pan : Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकर अपील सं./I.T.A. No.5707/Mum/2016 (िनधा"रणवष" / Assessment Year: 2011-12) Sodexo Food Solutions India Assistant Commissioner Of Private Limited Income Tax-13(2)(1) बनाम/ 1Stfloor, Gemstar Commercial Complex Room No.146, 1St Floor Ramchandra Lane Extension Vs. Aaykar Bhavan, M.K.Road Kanchpada, Malad(W) Mumbai -400 020 Mumbai-400 064 "थायी लेखा सं./Pan : Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) :

For Appellant: Nimesh Vora, Ld. ARFor Respondent: Rignesh Das, Ld. JCIT-DR
Section 143(3)Section 2(24)(x)Section 36(1)(va)Section 37(1)

…axmann.com 186 Ltd. 6. PCIT Vs Empire Package Pvt. Ltd. Hon’ble Punjab & Haryana High Court 81 Taxmann.com 108 7. CIT Vs Lakhani Marketing Inc. Hon’ble Punjab & Haryana High Court 2015 4 ITR-OL 246 8. CIT Vs Hero Cycles Ltd Hon’ble Punjab & Haryana High Court 323 ITR 518 9. CIT Vs. Winsome Textiles Ind. Ltd. Hon’ble Punjab & Haryana High Court 319 ITR 204 10. CIT Vs Corrtech Energy Pvt Ltd Hon’ble Gujarat High Court 223 Taxmann.com 130 The revenue is unable to bring on record any contrary judgment to controvert the same. Respectfully following the wisdom of higher judicial authorities, we confirm the stand of Ld…