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 367,154 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.

Tata Investment Corporation Ltd, Mumbai vs. Asst CIT 2(3), Mumbai

ITA 1398/MUM/2013[2009-10]Status: DisposedITAT Mumbai26 Aug 2016AY 2009-10

Bench: S/Shri Rajendra & C.N. Prasadआयकर आयकर अपील अपील संसंसंसं./Ita/1398/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Tata Investment Corporation Ltd. Acit-2(3) Elphinstone Building, 2Nd Floor Room No.552, Aayakar Bhavan Vs. 10, Veer Nariman Road,Mumbai-1. M.K. Road,Mumbai-400 020. Pan:Aaact 4120 F (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By:Shri Kailash Gaikwad-Dr Assessee By: S/Shri M.M. Golvala & Amey Wagle सुनवाई क" तारीख / Date Of Hearing: 12.07.2016 घोषणा क" तारीख / Date Of Pronouncement: 26.08.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सद"य लेखा सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार Per Rajendra, Am- लेखा लेखा सद"य सद"य राजे"" राजे"" अनुसार अनुसार Challenging The Order Dated 26.12.2012 Of The Cit (A)-6,Mumbai, The Assessee Has Filed The Present Appeal.Assessee An Investment Company Filed Its Return Of Income On 26.09.2009,Showing Income Of Rs.28.91Crores Under The Normal Provision & Book Profit Of Rs.148.70 Crores U/S.115Jb Of The Act.The Assessing Officer (Ao),Completed The Assessment,U/S.143(3)Of The Act,On 29. 07.2011,Determining The Its Income At Rs.32.25 Crores & At Rs.149.22Crores Under The Mat Provisions.The Assessee Has Filed An Application To Admit Additional Grounds & Has Stated That The Grounds Raised Through The Application Were Legal In Nature.Considering The Fact That Same Deal With Legal Issues,We Allow The Assessee To Argue Them.

For Appellant: S/Shri M.M. Golvala and Amey WagleFor Respondent: Shri Kailash Gaikwad-DR
Section 10(33)Section 115JSection 143(3)Section 14ASection 254(1)

…आयकर अपीलीय अिधकरण, मुंबई “ई” खंडपीठ Income-tax Appellate Tribunal -“E”Bench Mumbai सव"ी सव"ी राजे"" राजे"",लेखा लेखा सद"य सद"य एवं एवं सी सी. एन एन. "साद "साद,"याियक "याियक सद"य सद"य सव"ी सव"ी राजे"" राजे"" लेखा लेखा सद"य सद"य एवं एवं सी सी एन एन "साद "साद "याियक "याियक सद"य सद"य Before S/Shri Rajendra,Accountant Member and C.N. Prasad,Judicial Member आयकर आयकर अपील अपील संसंसंसं./ITA/1398/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Years: 2009-10 आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" Tata Investment Corporation Ltd. ACIT-2(3) Elphinstone Building, 2nd Floor Room No.552, Aayakar Bhavan Vs. 10, Veer Na…

Asst CIT 10(3)(1), Mumbai vs. Nandraj Developers P. Ltd, Mumbai

ITA 727/MUM/2015[2009-10]Status: DisposedITAT Mumbai24 Aug 2016AY 2009-10
For Appellant: NoneFor Respondent: Shri N. Sathya Moorthy-DR
Section 14Section 143Section 14ASection 254(1)

…of the total income under the provisions of the Act,iii. the assessee must incur expenditure and iv. the expenditure must have a relation to the income which does not form order of the total income under the Act. He also referred to the cases of Hero Cycles (323 ITR 518) and Winsome Textile (319 ITR 204) and held that the assessee had not earned any exempt income for the year under consideration,that the AO was aware of the fact,that even then he made a disallowance,that he was not justified in invoking the provisions of section 14A read with Rule 8D of the Rules. 4.During the course of hearing before us, the D…

Abott India Ltd, Mumbai vs. Asst CIT Cir 2(1), Mumbai

In the result, assessee’s appeal in ITA No 3472/Mum/2013 and ITA No

ITA 832/MUM/2013[2008-09]Status: DisposedITAT Mumbai24 Aug 2016AY 2008-09

Bench: Shri Mahavir Singh & Shri Ramit Kochar

For Respondent: Shri Morya Pratap
Section 143(3)Section 147Section 148Section 32Section 32(1)(iia)Section 80

…ded any satisfaction vis-à-vis the incorrectness of the claim in respect of expenditure in relation to income which does not form part of the total income. In support, the assessee has relied upon the following decisions:- “1. CIT vis. Hero Cycle Ltd. (2009) 17 DTR 281. 2. Mindas Investment vis. DCIT (2010iTIOL·699·ITAT-Del), 3. Maxopp Investment Ltd. vis. CIT (ITA No. 687/2009), 4. DCIT v. Jindal Photo Ltd, (ITA No.4539/DeI.12010), 5. Yatish Trading Co. (P) Ltd. (2011) 9 taxrnan.com 164. 6. Multi Commodity Exchange of (India) Limited vs. DCIT (ITA No. 1050/M/2010 7. Cl'I' vs. Walfort Share and Stock Brokers Pv…

Abbott India Ltd, Mumbai vs. Asst CIT Cir 2(1), Mumbai

In the result, assessee’s appeal in ITA No 3472/Mum/2013 and ITA No

ITA 3472/MUM/2013[2006-07]Status: DisposedITAT Mumbai24 Aug 2016AY 2006-07

Bench: Shri Mahavir Singh & Shri Ramit Kochar

For Respondent: Shri Morya Pratap
Section 143(3)Section 147Section 148Section 32Section 32(1)(iia)Section 80

…ded any satisfaction vis-à-vis the incorrectness of the claim in respect of expenditure in relation to income which does not form part of the total income. In support, the assessee has relied upon the following decisions:- “1. CIT vis. Hero Cycle Ltd. (2009) 17 DTR 281. 2. Mindas Investment vis. DCIT (2010iTIOL·699·ITAT-Del), 3. Maxopp Investment Ltd. vis. CIT (ITA No. 687/2009), 4. DCIT v. Jindal Photo Ltd, (ITA No.4539/DeI.12010), 5. Yatish Trading Co. (P) Ltd. (2011) 9 taxrnan.com 164. 6. Multi Commodity Exchange of (India) Limited vs. DCIT (ITA No. 1050/M/2010 7. Cl'I' vs. Walfort Share and Stock Brokers Pv…

D.C.I.T Cir - 10, Kolkata vs. M/S Phillips Carbon Black Ltd, Kolkata

In the result, the appeals of Revenue in ITA 2123/Kol/13 and ITA

ITA 2123/KOL/2013[2006-07]Status: DisposedITAT Kolkata12 Aug 2016AY 2006-07

Bench: : Shri P.M.Jagtap & Shri S.S. Viswanethra Ravi

For Appellant: Shri D.S.Damle, FCA, ld.ARFor Respondent: Shri Kalyan Nath, JCIT, Sr.DR
Section 10Section 14Section 143(2)Section 143(3)Section 14A

…rmining such expenditure has been introduced by virtue of sub- section (2) of section 14A. Prior to that, the assessing was free to adopt any reasonable and acceptable method. 14. The Hon'ble Punjab & Haryana High Court in the case of CIT vs. Hero Cycles Ltd 323 ITR 518 (P&H) has also held that disallowance under section 14A could not stand where it was found that for earning exempted income no expenditure has been incurred: “Held - dismissing the appeal, that the expenditure on interest was set off against the income from interest and the investment in the shares and funds were out of the dividend proceeds. In…

ITO, Ward-32(2), Kolkata vs. M/S. Raghunath Exporters, Kolkata

In the result, the appeal of the Revenue is partly allowed

ITA 2166/KOL/2014[2010-2011]Status: DisposedITAT Kolkata10 Aug 2016AY 2010-2011

Bench: Shri P.M. Jagtap

Section 143(3)

…he case of CIT vs, Britannia Industries l.td. (Supra), the same cannot be accepted and followed and the decision of the Calcutta High Court is to be respectfully followed. In another decision by the Punjab and Haryana High Court In case of CIT vs. Hero Cycles 323 ITR 518 it has been held that where there are mixed funds, presumption is that the investments are made out of own capital. In this decision of the Punjab & Haryana High Court, reliance was placed on CIT vs.- Winsome Textile Industries Limited, wherein decision of Abhishek Industries was distinguished as having no application, The appellant has submitted…

M/S. Dell International Services India (P) Ltd., Noida vs. Addl. CIT, New Delhi

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

ITA 5522/DEL/2011[2007-08]Status: DisposedITAT Delhi08 Aug 2016AY 2007-08

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 5522/Del/2011 : Asstt. Year : 2007-08 M/S Dell International Services Vs Deputy Commissioner Of Income India Pvt. Ltd., (Formerly Known As Tax, Circle-14(1), Room No. 415, Perot Systems Tsi (India) Pvt. Central Revenue Building, Ltd.), Plot No. 3, Sector-125, New Delhi Noida-201301 (Appellant) (Respondent) Pan No. Aaach1925Q Assessee By : Sh. Vishal Kalra, Adv. & Sh. S. S. Tomar, Adv. & Sh. G. Gupta, Adv. Revenue By : Sh. N. C. Swain, Cit Dr Date Of Hearing : 02.08.2016 Date Of Pronouncement : 08.08.2016 Order Per N. K. Saini, Am:

For Appellant: Sh. Vishal Kalra, Adv. & Sh. S. SFor Respondent: Sh. N. C. Swain, CIT DR
Section 10(34)Section 10ASection 143(1)Section 143(3)Section 14ASection 234D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-1’, NEW DELHI Before Sh. N. K. Saini, AM and Smt. Beena Pillai, JM ITA No. 5522/Del/2011 : Asstt. Year : 2007-08 M/s Dell International Services Vs Deputy Commissioner of Income India Pvt. Ltd., (formerly known as Tax, Circle-14(1), Room No. 415, Perot Systems TSI (India) Pvt. Central Revenue Building, Ltd.), Plot No. 3, Sector-125, New Delhi Noida-201301 (APPELLANT) (RESPONDENT) PAN No. AAACH1925Q Assessee by : Sh. Vishal Kalra, Adv. & Sh. S. S. Tomar, Adv. & Sh. G. Gupta, Adv. Revenue by : Sh. N. C. Swain, CIT DR Date of Hearing : 02.08.2016 Date of Prono…

Haldia Petrochemicals Limited, Kolkata vs. ITO, Ward - 12(4), Kolkata

In the result, the appeals of the assessee for A

ITA 2114/KOL/2009[2006-07]Status: DisposedITAT Kolkata29 Jul 2016AY 2006-07

Bench: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Section 115JSection 32

…in respect of “expenditure incurred.” Here the assessee has not incurred any expenditure in relation to dividend income. Hence Provision of section 14A do not apply at all. Assessee has relied on citation of the following cases: 1.CIT vs. Hero Cycles Ltd [ 323 ITR 518]- P&H High Court 2. Maxopp Investment Limited vs. CIT [(2012)347 ITR 272 (Delhi High Court)] 3. CIT vs. Torrent Power Ltd. [2014] 363 ITR 474 (Gujarat High Court) It was held that Rule 8D was not applicable in the AY 2005-06 to 2007- 08.Rule 8D came into existence from 24.03.2008 and hence it was not applicable for the assessment year under co…

ACIT, Sonepat vs. M/S. Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 4049/DEL/2013[2008-09]Status: DisposedITAT Delhi29 Jul 2016AY 2008-09

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

ACIT, Sonepat vs. M/S Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 4000/DEL/2013[2010-11]Status: DisposedITAT Delhi29 Jul 2016AY 2010-11

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

ACIT, Sonepat vs. M/S. Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 2132/DEL/2012[2009-10]Status: DisposedITAT Delhi29 Jul 2016AY 2009-10

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

Addl. CIT, Sonepat vs. M/S Atlas Cycles Haryana Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 3473/DEL/2011[2008-09]Status: DisposedITAT Delhi29 Jul 2016AY 2008-09

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

ACIT, Sonepat vs. M/S. Atlas Cycles Haryana Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 3472/DEL/2011[2005-06]Status: DisposedITAT Delhi29 Jul 2016AY 2005-06

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

DCIT, Sonepat vs. M/S Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 2491/DEL/2011[2004-05]Status: DisposedITAT Delhi29 Jul 2016AY 2004-05

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

DCIT, Sonepat vs. M/S Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 2490/DEL/2011[2003-04]Status: DisposedITAT Delhi29 Jul 2016AY 2003-04

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

DCIT, Sonepat vs. M/S Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2489/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 2489/DEL/2011[2006-07]Status: DisposedITAT Delhi29 Jul 2016AY 2006-07

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

DCIT, Sonepat vs. Shri Atlas Cycles Haryana Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 10/DEL/2011[2007-08]Status: DisposedITAT Delhi29 Jul 2016AY 2007-08

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

ACIT, Sonepat vs. M/S. Atlas Cycles (Haryana) Ltd., Sonepat

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 913/DEL/2010[2006-07]Status: DisposedITAT Delhi29 Jul 2016AY 2006-07

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

M/S. Atlas Cycles (Haryana) Ltd., Sonepat vs. ACIT, Haryana

In the result ITA Nos. 2484/Del/2011 and 4049/Del/2013 preferred by the department are dismissed

ITA 784/DEL/2010[2006-07]Status: DisposedITAT Delhi29 Jul 2016AY 2006-07

Bench: Shri G.D. Agrawal, Hon’Ble & Shri Sudhanshu Srivastava

…ents in mutual funds with the interest bearing funds nor could the AO establish that the expenditure was incurred directly in relation to the tax exempt income. The ld. CIT(Appeals) following the Hon’ble Punjab & Haryana High Court in Hero Cycles vs. CIT, 323 ITR 518 (P&H) deleted the entire addition. 3.2.1 The Department could not controvert the findings of the Ld. CIT (A) before us on both the issues. 3.2.2 It is seen that this issue is squarely covered by a judgment of The Hon’ble Bombay High Court in the case of Commissioner of Income Tax v/s Reliance Utilities and Power Ltd., reported in (2009) 313…

Avis Tie Up Pvt Ltd, Kolkata vs. D.C.I.T Cir - 11, Kolkata

In the result, assessee’s appeal is allowed

ITA 2029/KOL/2013[2009-10]Status: DisposedITAT Kolkata15 Jul 2016AY 2009-10

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

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

…Chini Mills Ltd. Vs. DCIT (2012) 20 taxmann.com 117 (Kol) e) ACIT vs. Elcher Ltd. (2006) 101 TTJ 369 (Del) f) ACIT vs. Jindal Saw Pipes Ltd (2008) 118 TTJ 228 (Del) g) CIT vs. Metalman Auto P. Ltd. (2011) 336 ITR 434 (P & H) h) CIT vs. Hero Cycles Ltd. (2010) 323 ITR 518 (P & H) i) DCIT vs. Jindal Photo Ltd.ITA No.4539/Del/2010 dated 22.12.2010 j) Godrej & Byoce vs. DCIT 328 ITR 81 (Bom) The relevant extract of the order of Hon’ble Delhi Tribunal in the case of ACIT vs. Elcher Ltd. (2006) 101 TTJ 369 (Del) is reproduced below. “A look at the language of s. 14A shows that the AO can disallow only expenditure "in…