CIT v. Holcim India Pvt. Ltd.

272 CTR 282High Court2014#805 most cited

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

No disallowance under Section 14A can be made when no exempt income has been earned by the assessee, and investments made for business purposes in subsidiaries do not warrant disallowance under Section 14A, even if no dividend income is earned.

128

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. Holcim India Pvt. Ltd. · Section 14A · Rule 8D · exempt income · investment in subsidiary · business purpose · dividend income · disallowance

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.

DCIT, New Delhi vs. M/S. Dcm Ltd., New Delhi

In the result, the additional ground of the assessee is allowed and ground

ITA 1237/DEL/2014[2010-11]Status: DisposedITAT Delhi29 Jul 2016AY 2010-11

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantdcit Vs Dcm Ltd. Circle 10(1) 6Th Floor, Vikrant Tower, New Delhi. Rajendra Place, New Delhi. Aaacd1012E & Dcm Ltd. Vs Dcit 6Th Floor, Vikrant Tower, Circle 10(1) Rajendra Place, New Delhi. New Delhi. Aaacd1012E Assessee By Sh. Anil Kumar Sharma, Sr. Dr Revenue By Sh. Pradeep Dinodia, Ca

Section 115JSection 143(2)Section 14A

…70,088/-, disallowance is to be restricted to this amount only notwithstanding the fact that the company had made suo moto disallowance of Rs. 21.87 lacs. The Ld. AR relied on the decisions of the Hon’ble Delhi High Court in CIT vs. Holcim India P. Limited 272 CTR 282 (Del.), Joint Investment P. Ltd. vs. CIT 372 ITR 694 and Cheminvest Limited vs. CIT 378 ITR 33 for the proposition. ITA No. 1237 & 1511/D/14 Page 7 of 15 On ground no. 1 of the Department’s appeal regarding deletion of disallowance of Rs. 22.32 lacs on account of notional interest on interest free advances to DCM Employees Trust, the Ld. AR s…

M/S. Dcm Shriram Industries Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 883/DEL/2014[2010-11]Status: DisposedITAT Delhi10 Jun 2016AY 2010-11

Bench: Smt Diva Singh & Sh.L.P.Sahu

Section 14A

…opportunity of being heard. 7. Addressing the next issue the Ld. AR submitted that in the facts of the present case, the assessee has made investment of share out of its fund in Mid 1990 and no dividend has Page 5 of 7 I.T.A .No.-883/Del/2014 Ltd. [2014] 272 CTR 282 (Del.) and Joint Investments Pvt.Ltd. vs CIT [2015] 372 ITR 394 (Del.). It was his submission that no addition should have been made. 8. The Ld. Sr.DR on considering the material available on record submitted that the fact that no dividend in the year under consideration was earned is not coming out either from the impugned order or from the r…

Red Chillies Entertainment P.Ltd, Mumbai vs. ACIT Cen Cir 29, Mumbai

In the result, assessee’s appeal for A

ITA 5271/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 May 2016AY 2010-11

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Shri Hiru RaiFor Respondent: Shri B.S. Bist

…dated 26th i) February 2009; ii) Cheminvest Ltd. v/s CIT, [215] 378 itr 33 (Del.); iii) CIT v/s Winsome Textile Industries Ltd., [2009] 319 ITR 204 (P&H); iv) CIT v/s Corrtech Energy P. Ltd., [2015] 372 ITR 97 (Guj.); v) CIT v/s Holcim India Pvt. Ltd., [2014] 272 CTR 282 (Del.); vi) CIT v/s Shivam Motors P. Ltd., [2014 272 CTR 277 (All.); vii) CIT v/s Lakhani Marketing Incl., [2014] 272 CTR 265 (P&H). 31. Learned Departmental Representative on the other hand relied upon the decision of the learned Commissioner (Appeals) and the Assessing Officer. 32. We have considered the submissions of the parties and perused…

ITO, New Delhi vs. M/S. Landcraft Developers Pvt. Ltd., New Delhi

In the result, the appeal of the Revenue stands dismissed

ITA 6496/DEL/2013[2009-10]Status: DisposedITAT Delhi06 May 2016AY 2009-10

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

For Appellant: Shri Shravan Gotru, Sr-DRFor Respondent: Shri Raj Kumar Gupta, CA
Section 131Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘D’: NEW DELHI BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER, AND SHRI L.P. SAHU, ACCOUNTANT MEMBER, ITA No. 6496/Del /2013 [A.Y : 2009-10] The I.T.O Vs. M/s Landcraft Developers Pvt. Ltd 309, 3rd Floor, Plot No. 13, Ward 4(3) New Delhi Parmesh Corporate Towers Community Centre, Karkardooma Delhi PAN : AABCL1391 F [Appellant] [Respondent] Date of Hearing : 30.03.2016 Date of Pronouncement: 06.05.2016 Appellant by : Shri Shravan Gotru, Sr-DR Respondent by : Shri Raj Kumar Gupta, CA ORDER PER CHANDRA MOHAN GARG, JUDICIAL MEMBER This appeal filed by the Re…

Pr.Commissioner of Income Tax-6 vs. Nilgiri Infrastructure Development Ltd

ITA/135/2016HC Delhi16 Feb 2016

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section 14ASection 260A

…ion 14A of the Act read with Rule 8D of the Income Tax Rules, 1962. 3. The ITAT has in the impugned order relied on the decision of this Court ITA No. 135/2016 Page 2 of 2 in CIT v. Holcim India (P) Ltd. [2014] 272 CTR 282 (Del). Learned counsel for the Revenue submits that the decision of this Court requires reconsideration by a larger Bench particularly in light of Circular No. 5/2014 of the Central Board of Direct Taxes dated 11th February 2014. 4. Having heard learned counsel for the Revenue and having examined the impugned order and considering the fact…

Triune Projects Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result ground No.2 and 2

ITA 3917/DEL/2011[2008-09]Status: DisposedITAT Delhi10 Feb 2016AY 2008-09

Bench: Shri I.C.Sudhir & Shri Prashant Maharishi

For Appellant: Sh. Ved Jain, AdvFor Respondent: Sh. Anshu Prakash, Sr. DR
Section 14A

…panies is also not covered for this purpose of working out disallowance u/s 14A because they are termed as strategic investments. Our view is further fortified by the Decision of Hon’ble Delhi high Page 6 of 11 court in case of CIT V Holcim India Pvt Limited 272 CTR 282 (Delhi) wherein it is held that investments made for the purposes of the business of the company in subsidiaries etc. there cannot be any disallowance u/s 14A of the act irrespective of factum of earning dividend. Therefore, for working out disallowance of expenditure and interest as prescribed under Rule 8D investment in subsidiary is not to be…

Bharat Sanchar Nigam Ltd vs. DCIT Circle 2 (1)

In the result this ground is allowed for statistical purposes

ITA 3718/DEL/2006[2003-2004]Status: DisposedITAT Delhi22 Jan 2016AY 2003-2004

Bench: Smt. Diva Singh & Shri J. Sudhakar Reddyay: 2003-04 Ay: 2004-05 Ay: 2005-06 Ay: 2006-07 Ay: 2007-08 Ay: 2008-09 Ay: 2008-09 Bharat Sanchar Nigam Ltd. Vs. Acit, Range 2 Taxation Section, 1St Floor New Delhi Bharat Sanchar Bhavan Janpath New Delhi Ay: 2003-04 Ay: 2008-09 Ay: 2005-06 Ay: 2006-07 Ay: 2007-08

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Smt. Anuradha Misra, CIT, D.R
Section 37

…d by the Revenue as ground no.4 in the appeal for the A.Y. 2008-09. Admittedly the assessee has no exempt income during the year. Hence no disallowance can be made u/s 14A of the act as held by the Hon’ble Delhi High Court in CIT vs. Holecim India reported in 272 CTR 282 and Cheminvest Ltd. in ITA 747/2014 judgement dated 2nd December,2015. In the result this ground of Revenue is dismissed. 21. The last issue is on disallowance made u/s 80IA of the Act for the A.Y. 2005-06 to the A.Y. 2008-09. 21.1. This Bench of the Tribunal in ITA 3304/Del/2010 and ITA 3386/Del/10 for the A.Y. 2004-05 in assessee’s own case, vi…

DCIT Circle 2 (1) vs. Bharat Sanchar Nigam Ltd

In the result this ground is allowed for statistical purposes

ITA 3440/DEL/2006[2003-2004]Status: DisposedITAT Delhi22 Jan 2016AY 2003-2004

Bench: Smt. Diva Singh & Shri J. Sudhakar Reddyay: 2003-04 Ay: 2004-05 Ay: 2005-06 Ay: 2006-07 Ay: 2007-08 Ay: 2008-09 Ay: 2008-09 Bharat Sanchar Nigam Ltd. Vs. Acit, Range 2 Taxation Section, 1St Floor New Delhi Bharat Sanchar Bhavan Janpath New Delhi Ay: 2003-04 Ay: 2008-09 Ay: 2005-06 Ay: 2006-07 Ay: 2007-08

For Appellant: Shri Tarandeep Singh, AdvFor Respondent: Smt. Anuradha Misra, CIT, D.R
Section 37

…d by the Revenue as ground no.4 in the appeal for the A.Y. 2008-09. Admittedly the assessee has no exempt income during the year. Hence no disallowance can be made u/s 14A of the act as held by the Hon’ble Delhi High Court in CIT vs. Holecim India reported in 272 CTR 282 and Cheminvest Ltd. in ITA 747/2014 judgement dated 2nd December,2015. In the result this ground of Revenue is dismissed. 21. The last issue is on disallowance made u/s 80IA of the Act for the A.Y. 2005-06 to the A.Y. 2008-09. 21.1. This Bench of the Tribunal in ITA 3304/Del/2010 and ITA 3386/Del/10 for the A.Y. 2004-05 in assessee’s own case, vi…