CIT v. Holcim India Pvt. Ltd.

272 CTR 282High Court2014#811 most cited

What is CIT v. Holcim India Pvt. Ltd. authority for?

Section 14A cannot be invoked to disallow expenditure incurred for earning exempt income if the assessee has not actually earned any exempt income, such as dividend income, during the relevant previous year.

128

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Holcim India Pvt. Ltd. · Section 14A · disallowance under Section 14A · no exempt income · no dividend income earned · expenditure relating to exempt income · applicability of Section 14A · actual exempt income · Delhi High Court

Also reported as

111 DTR 153

Sections most often in play

Section 14ASection 143(3)Section 253(3)Section 43BSection 8DSection 80-IASection 115BSection 10

Issues it is cited on

unabsorbed depreciationdisallowance u/s 14adisallowance under section 14asection 14asection 115jbsection 10section 37previous yearcompanyprescribedindiabusiness

Judgments citing CIT v. Holcim India Pvt. Ltd.

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-20, JHANDEWALAN vs. STERLING AGRO INDUSTRIES LIMITED , DELHI

In the result Appeal of the Revenue for Assessment Year 2018-

ITA 4716/DEL/2025[2020-21]Status: DisposedITAT Delhi16 Jan 2026AY 2020-21

Bench: Yogesh Kumar U.S. & Shrimanish Agarwal

Section 115BSection 143(3)Section 144BSection 14ASection 80Section 80I

…esentative submitted that the Ld. CIT(A) while deleting the addition relied on the settled principals of law down by the Hon'ble High Court of Delhi in the case of Joint Investment Private Limited Vs CIT (372 ITR 694) and CIT Vs. Holcim India (P) Ltd (2014) 272 CTR 282(Delhi), wherein it was held that disallowance U/s 14A of the Act cannot be more than the exempt income. Thus, sought for dismissal of the Appeal. 9. We have heard both the parties and perused the material available on record. It is well settled law that disallowance u/s 14A of the Act cannot be more than the exempt income as held in the case o…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-20, JHANDEWALAN vs. STERLING AGRO INDUSTRIES LIMITED , DELHI

In the result Appeal of the Revenue for Assessment Year 2018-

ITA 4714/DEL/2025[2018-19]Status: DisposedITAT Delhi16 Jan 2026AY 2018-19

Bench: Yogesh Kumar U.S. & Shrimanish Agarwal

Section 115BSection 143(3)Section 144BSection 14ASection 80Section 80I

…esentative submitted that the Ld. CIT(A) while deleting the addition relied on the settled principals of law down by the Hon'ble High Court of Delhi in the case of Joint Investment Private Limited Vs CIT (372 ITR 694) and CIT Vs. Holcim India (P) Ltd (2014) 272 CTR 282(Delhi), wherein it was held that disallowance U/s 14A of the Act cannot be more than the exempt income. Thus, sought for dismissal of the Appeal. 9. We have heard both the parties and perused the material available on record. It is well settled law that disallowance u/s 14A of the Act cannot be more than the exempt income as held in the case o…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-20, JHANDEWALAN vs. STERLING AGRO INDUSTRIES LIMITED , DELHI

In the result Appeal of the Revenue for Assessment Year 2018-

ITA 4713/DEL/2025[2017-18]Status: DisposedITAT Delhi16 Jan 2026AY 2017-18

Bench: Yogesh Kumar U.S. & Shrimanish Agarwal

Section 115BSection 143(3)Section 144BSection 14ASection 80Section 80I

…esentative submitted that the Ld. CIT(A) while deleting the addition relied on the settled principals of law down by the Hon'ble High Court of Delhi in the case of Joint Investment Private Limited Vs CIT (372 ITR 694) and CIT Vs. Holcim India (P) Ltd (2014) 272 CTR 282(Delhi), wherein it was held that disallowance U/s 14A of the Act cannot be more than the exempt income. Thus, sought for dismissal of the Appeal. 9. We have heard both the parties and perused the material available on record. It is well settled law that disallowance u/s 14A of the Act cannot be more than the exempt income as held in the case o…

DCIT, RANGE-6, LUCKNOW vs. M/S. U.P. STATE SUGAR CORPORATION LTD.,, LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 229/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…vs. CIT [2015] 61 I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 12 taxmann.com 118/378 ITR 33 (Del) and Pr. CIT vs. IL&FS Energy Development Co. Ltd. [2017] 84 taxmann.com 186/399 ITR 483 (Del), CIT vs. Holcim India Private Limited 272 CTR 282 (Delhi)/(2014) 90 CCH 081- DEL (vide order dated 05/09/2014 in I.T.A. No.486 and 299/2014). It will be helpful to read the following portion of the order of Hon'ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. (supra): “14. On the issue whether the respondent-assessee could have earned dividend income and even if no dividend inco…

U.P. STATE SUGAR CORPORATION LTD.,LUCKNOW vs. DCIT, RANGE-VI, LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 227/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…vs. CIT [2015] 61 I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 12 taxmann.com 118/378 ITR 33 (Del) and Pr. CIT vs. IL&FS Energy Development Co. Ltd. [2017] 84 taxmann.com 186/399 ITR 483 (Del), CIT vs. Holcim India Private Limited 272 CTR 282 (Delhi)/(2014) 90 CCH 081- DEL (vide order dated 05/09/2014 in I.T.A. No.486 and 299/2014). It will be helpful to read the following portion of the order of Hon'ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. (supra): “14. On the issue whether the respondent-assessee could have earned dividend income and even if no dividend inco…

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 588/LKW/2019[2014-15]Status: DisposedITAT Lucknow16 May 2025AY 2014-15

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…vs. CIT [2015] 61 I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 12 taxmann.com 118/378 ITR 33 (Del) and Pr. CIT vs. IL&FS Energy Development Co. Ltd. [2017] 84 taxmann.com 186/399 ITR 483 (Del), CIT vs. Holcim India Private Limited 272 CTR 282 (Delhi)/(2014) 90 CCH 081- DEL (vide order dated 05/09/2014 in I.T.A. No.486 and 299/2014). It will be helpful to read the following portion of the order of Hon'ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. (supra): “14. On the issue whether the respondent-assessee could have earned dividend income and even if no dividend inco…

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 587/LKW/2019[2012-13]Status: DisposedITAT Lucknow16 May 2025AY 2012-13

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…vs. CIT [2015] 61 I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 12 taxmann.com 118/378 ITR 33 (Del) and Pr. CIT vs. IL&FS Energy Development Co. Ltd. [2017] 84 taxmann.com 186/399 ITR 483 (Del), CIT vs. Holcim India Private Limited 272 CTR 282 (Delhi)/(2014) 90 CCH 081- DEL (vide order dated 05/09/2014 in I.T.A. No.486 and 299/2014). It will be helpful to read the following portion of the order of Hon'ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. (supra): “14. On the issue whether the respondent-assessee could have earned dividend income and even if no dividend inco…

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 485/LKW/2019[2013-14]Status: DisposedITAT Lucknow16 May 2025AY 2013-14

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…vs. CIT [2015] 61 I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 12 taxmann.com 118/378 ITR 33 (Del) and Pr. CIT vs. IL&FS Energy Development Co. Ltd. [2017] 84 taxmann.com 186/399 ITR 483 (Del), CIT vs. Holcim India Private Limited 272 CTR 282 (Delhi)/(2014) 90 CCH 081- DEL (vide order dated 05/09/2014 in I.T.A. No.486 and 299/2014). It will be helpful to read the following portion of the order of Hon'ble Delhi High Court in the case of CIT vs. Holcim India P. Ltd. (supra): “14. On the issue whether the respondent-assessee could have earned dividend income and even if no dividend inco…

ANAMIKA CONDUCTORS PVT. LTD. ,JAIPUR vs. ACIT DCIT, JAIPUR

In the result, the appeals of the assessee are allowed with no orders as to cost

ITA 40/JPR/2024[A.Y. 2015-16]Status: DisposedITAT Jaipur30 Sept 2024

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri G.M. Mehta, CAFor Respondent: Shri Anoop Singh, Addl. CIT-DR
Section 145(3)Section 14A

…nce of interest cam be made in view of the decision of the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Lakhani Marketing Industries (2014) 272 CTR 265 (P&H), Hon'ble Delhi High Court decision in the case of CIT Vs. Holcim India Pvt. Ltd. (2014) 272 CTR 282 (Del). Hon'ble Allahabad High Court decision in the case of Shuvam Motors Pvt. Ltd. (2014) 272 CTR 277 (All) and the decision of the Hon'ble Gujarat High Court in the case of CIT Vs. Corrtech Energy Pvt. Ltd. (2015) 376 ITR 97 (Guj). Respectfully following the propositions of law laid down in these judicial pronouncements, no disallowance of expe…

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…ompute disallowance under section 14A read with Rule 8D(2)(iii) based on the principles laid down in the decisions of the Hon’ble High Court in the case of Cheminvest Limited -vs.- CIT (2015) 61 taxmann.com 118 (Del) and CIT -vs.- Holchim India (P) Ltd (2014) 272 CTR 282 (Del). 4. On the facts and in the circumstances of the case & in law, the Ld. AO grossly erred in making an upward adjustment of Rs. Page 3 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited. 3,12,83,015/- computed as per Rule 8D(2)(iii) while arriving a…

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…ompute disallowance under section 14A read with Rule 8D(2)(iii) based on the principles laid down in the decisions of the Hon’ble High Court in the case of Cheminvest Limited -vs.- CIT (2015) 61 taxmann.com 118 (Del) and CIT -vs.- Holchim India (P) Ltd (2014) 272 CTR 282 (Del). 4. On the facts and in the circumstances of the case & in law, the Ld. AO grossly erred in making an upward adjustment of Rs. Page 3 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited. 3,12,83,015/- computed as per Rule 8D(2)(iii) while arriving a…

DION GLOBAL SOLUTIONS LTD.,NEW DELHI vs. DCIT, CIRCLE-7(2), NEW DELHI

ITA 5218/DEL/2019[2009-10]Status: DisposedITAT Delhi05 Dec 2022AY 2009-10

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra[Assessment Year : 2009-10] Dion Global Solution Ltd., Vs Dcit, 409, Chaudhry Complex, Circle-7(2), New Delhi. 9 Vs Block, Madhuban Road, Shakarpur, New Delhi-110092 Pan-Aaacf1917E Appellant Respondent Appellant By None Respondent By Shri Akhilesh Gupta, Sr Dr Date Of Hearing 06.12.2022 Date Of Pronouncement 06.12.2022

Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 14ASection 9(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “B” BENCH: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER & SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER [Assessment Year : 2009-10] Dion Global Solution Ltd., vs DCIT, 409, Chaudhry Complex, Circle-7(2), New Delhi. 9 VS Block, Madhuban Road, Shakarpur, New Delhi-110092 PAN-AAACF1917E APPELLANT RESPONDENT Appellant by None Respondent by Shri Akhilesh Gupta, Sr DR Date of Hearing 06.12.2022 Date of Pronouncement 06.12.2022 ORDER PER KUL BHARAT, JM : The present appeal filed by the assessee for the assessment year (“AY”) 2009-10 is directed against the order of Ld.CIT…

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(4), BANGALORE vs. CENTURY REAL ESTATE HOLDINGS PRIVATE LIMITED, BANGALORE

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

ITA 740/BANG/2022[2013-14]Status: DisposedITAT Bangalore30 Nov 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar, D.R

…t swallow the entire amount as has happened in this case. ITA No.580 & 740/Bang/2022 M/s. Century Real Estate Holdings Pvt. Ltd., Bangalore Page 28 of 29 We further notice that the Hon’ble Delhi High Court in the case of CIT v. Holcim India (P.) Ltd. (2014) 272 CTR 282 (Delhi) has held that there can be no dis allowance under section 14A in the absence of exempt income. The rationale behind these judgments is that the amount of disallowance cannot exceed exempt income. In this case, on perusal of the facts, we find that the assessee has earned exempt income of Rs. 24,138, whereas the assessing officer disallowe…

CENTURY REAL ESTATE HOLDINGS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(2), BANGALORE

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

ITA 580/BANG/2022[2013-14]Status: DisposedITAT Bangalore30 Nov 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2013-14

For Appellant: Smt. Sheetal Borkar, A.RFor Respondent: Shri Gudimella V.P. Pavan Kumar, D.R

…t swallow the entire amount as has happened in this case. ITA No.580 & 740/Bang/2022 M/s. Century Real Estate Holdings Pvt. Ltd., Bangalore Page 28 of 29 We further notice that the Hon’ble Delhi High Court in the case of CIT v. Holcim India (P.) Ltd. (2014) 272 CTR 282 (Delhi) has held that there can be no dis allowance under section 14A in the absence of exempt income. The rationale behind these judgments is that the amount of disallowance cannot exceed exempt income. In this case, on perusal of the facts, we find that the assessee has earned exempt income of Rs. 24,138, whereas the assessing officer disallowe…

M/S M/S NAV BHARAT PRESS,RAIPUR (CG) vs. THE ASSTT. COMMISSIONER OF INCOME TAX 3(1), RAIPUR (CG)

In the result, appeal of the assessee in ITA No

ITA 6/BIL/2017[2013-14]Status: DisposedITAT Raipur31 Oct 2022AY 2013-14

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अऩीऱ सं./Ita No.06/Rpr/2017 & आयकर अऩीऱ सं./Ita No.162/Rpr/2019 (ननधाारण वषा / Assessment Year :2013-2014 & 2015-2016) M/S Nava Bharat Press, Vs Acit, Cirlce-3(1), Raipur Press Complex, G.E.Road, Raipur (C.G.) Pan No. : Aadfn 0350 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri Mahavir Atal & Shri Sudhir Baheti, CAsFor Respondent: Shri G.N.Singh, Sr. DR
Section 14ASection 36Section 36(1)(iii)Section 36(1)(va)

…e in relation to tax exempt income. This proportion or portion of the tax exempt income surely cannot swallow the entire amount as has happened in this case. We further notice that the Hon‟ble Delhi High Court in the case of CIT vs Holcim India Pvt Ltd (2014) 272 CTR 282 (Del) has held that there can be no disallowance u/s 14A in the absence of exempt income. The rationale behind these judgments is that the amount of disallowance cannot exceed exempt income. In this case, on exempt income of Rs.25,000, whereas the AO disallowed an amount of Rs Rs.1,09,00,000. Therefore, considering the facts and circumstances of…

DCIT, CIRCLE- 21(1), NEW DELHI vs. RELIGARE ENTERPRISES LTD.,, NEW DELHI

In the result, revenue’s appeal is dismissed and cross-objection

ITA 7552/DEL/2018[2014-15]Status: HeardITAT Delhi29 Aug 2022AY 2014-15

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia:Assessment Year: 2014-15 Deputy Commissioner Of Vs. M/S. Religare Enterprises Income-Tax, Circle-21(1), Ltd., 2Nd Floor, Rajlok New Delhi Building, 24-Nehru Place, New Delhi-110019 Pan :Aaacv5888N (Appellant) (Respondent)

Section 14A

…ase, be restricted to the exempt income (refer judicial precedents referred on page 9-10 of chart of issues). 25. Specific reliance in this regard is placed on the following decisions: • The Delhi High Court in the case of CIT vs. Holcim India Pvt. Ltd.(2014) 272 CTR 282 (Del) held that the disallowance under section 14A of the Act cannot be made in the absence of any exempt income. In coming to the said 19 ITA No. 7552 & CO. 27/Del./2018 conclusion, the Hon’ble Court observed as under [refer pages 56-62 of CLPB II]: “13. We are confused about the stand taken by the appellant-Revenue. Thus, we had asked senior…

DCIT, C-2, AJMER vs. JAI NARAYAN AGARWAL,, JAIPUR

In the result, appeal of the Revenue is dismissed

ITA 38/JPR/2022[2014-15]Status: DisposedITAT Jaipur16 Aug 2022AY 2014-15

Bench: Or At The Time Of Hearing.”

For Appellant: Shri Nikhelesh Kataria (C.A.) aFor Respondent: Ms. Monisha Choudhary (JCIT) fu/kZkfjrh dh vksj ls@
Section 142(1)Section 143(2)Section 143(3)Section 148Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR MkWa- ,e- ,y- ehuk] ys[kk lnL; ,oa MkWa- ,l- lhrky{eh] U;kf;d lnL; ds le{k BEFORE: DR. M.L. MEENA, AM & DR. S. SEETHALAKSHMI, JM vk;dj vihy la-@ITA. No. 38/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2014-15 cuke Dy. Commissioner of Income-tax, Jai Narayan Agarwal Circle-2, Vs. Near Agarsen Bhawan Street, Ajmer. Mandangaj, Kishangarh. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAPPA1532J vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@ Revenue by : Ms. Monisha Choudhary (JCIT) fu/kZkfjrh dh vksj ls@ A…

JCIT (OSD) CIRCLE- 12(2), NEW DELHI vs. INTERNATIONAL HOSPITAL LTD. (BEFORE AMALGAMATION M/S ESCORTS HOSPITAL AND RESEARCH CENTRE LTD), NEW DELHI

Accordingly, the grounds raised are not sustainable; the appeal of Revenue is dismissed

ITA 5232/DEL/2019[2013-14]Status: DisposedITAT Delhi12 Jul 2022AY 2013-14

Bench: Sh. Shamim Yahya & Sh. Anubhav Sharmajcit (Osd), Vs. M/S. International Hospital Ltd. Circle-12(2) (Before Amalgamation Known As New Delhi M/S. Escorts Hospital & Research Centre Ltd.) Okhla Road, Pan : Aaaci9792A New Delhi-110025 (Appellant) (Respondent)

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

…IT(A) on the judgment of Hon’ble Supreme court in Commissioner of Income Tax (Central) 1 vs. Chettinad Logistics (P) Ltd. (Supra) relied by Ld AR. The decision of the Hon’ble Delhi High Court in Commissioner of Income-tax -IV Vs. Holcim India Pvt. Ltd. (2014) 272 CTR 282 (Delhi) can also be relied where in regard to the issue whether disallowance of expenditure under Section 14A of the Act International Hospital Ltd. 4 would be made even when no exempt income in the form of dividend was earned in the year, and it was observed: "14. On the issue whether the respondent-assessee could have earned dividend income…

DION GLOBAL SOLUTIONS LTD.,NEW DELHI vs. DCIT, CIRCLE-7(2), NEW DELHI

Appeals are hereby disposed of in the aforesaid

ITA 8347/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Jun 2022AY 2015-16
Section 14A

…the facts and circumstances of the case and in law, the Id. CIT(A) erred in not holding that in terms of the law laid down by the Hon’ble Delhi High Court in the cases of Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) and CIT vs. Holcim India P. Ltd. (2014) 272 CTR 282 (Del), no disallowance under section 14A of the Act was required to be made, in respect of investment from which no exempt dividend income was earned during the relevant DION GLOBAL SOLUTIONS Ltd. year. 3. That on the facts and circumstances of the case and in law, the Id. CIT(A) erred on the law by ignoring the revised grounds of appeal filed…

DION GLOBAL SOLUTIONS LTD.,NEW DELHI vs. DCIT, CIRCLE-7(2), NEW DELHI

Appeals are hereby disposed of in the aforesaid

ITA 8346/DEL/2019[2010-11]Status: DisposedITAT Delhi13 Jun 2022AY 2010-11
Section 14A

…the facts and circumstances of the case and in law, the Id. CIT(A) erred in not holding that in terms of the law laid down by the Hon’ble Delhi High Court in the cases of Cheminvest Ltd. vs. CIT (2015) 378 ITR 33 (Del) and CIT vs. Holcim India P. Ltd. (2014) 272 CTR 282 (Del), no disallowance under section 14A of the Act was required to be made, in respect of investment from which no exempt dividend income was earned during the relevant DION GLOBAL SOLUTIONS Ltd. year. 3. That on the facts and circumstances of the case and in law, the Id. CIT(A) erred on the law by ignoring the revised grounds of appeal filed…

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