CIT v. Taikisha Engineering India Ltd.

370 ITR 338High Court2015#339 most cited

What is CIT v. Taikisha Engineering India Ltd. authority for?

The disallowance under Section 14A of the Income-tax Act, read with Rule 8D, cannot exceed the actual exempt income earned by the assessee in the relevant previous year. If no exempt income is earned, no disallowance under Section 14A can be made.

252

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Taikisha Engineering India Ltd. · Section 14A · Rule 8D · disallowance for exempt income · expenditure relating to exempt income · disallowance limit · exempt income not earned · disallowance cannot exceed exempt income · dividend income · Delhi High Court

Also reported as

229 Taxmann 14354 Taxmann.com 109

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 40(a)(ia)Section 8DSection 10ASection 10AASection 147
Read the full judgment

Issues it is cited on

section 14a(2)section 10(34)disallowance u/s 14adisallowance under section 14asection 14aprofits and gains of business or professionsection 115jsection 40(a)(ia)section 115jbsection 40(a)section 194section 37

Judgments citing CIT v. Taikisha Engineering India Ltd.

Madhusha Holdings P.Ltd, Mumbai vs. ITO 3(2)(2), Mumbai

The appeal of the assessee is partly allowed

ITA 6676/MUM/2013[2010-11]Status: DisposedITAT Mumbai25 Jan 2018AY 2010-11

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 2(22)(e)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member ITA Nos.6675 & 6676/Mum/2013 Assessment Years: 2009-10 & 2010-11 M/s Madhusha Holdings P. Income Tax Officer-3(2)(2), Ltd.(formerly known as R. No.609, 6th Floor, बनाम/ UCIL Investment Ltd.), Aayakar Bhavan, Vs. 69A Mittal Chambers, M.K. Road, Nariman Point, Mumbai-400020 Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AAACV4048D "नधा"रती…

Madhusha Holdings P.Ltd, Mumbai vs. ITO 3(2)(2), Mumbai

The appeal of the assessee is partly allowed

ITA 6675/MUM/2013[2009-10]Status: DisposedITAT Mumbai25 Jan 2018AY 2009-10

Bench: Shri Joginder Singh & Shri Rajesh Kumar

Section 2(22)(e)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member ITA Nos.6675 & 6676/Mum/2013 Assessment Years: 2009-10 & 2010-11 M/s Madhusha Holdings P. Income Tax Officer-3(2)(2), Ltd.(formerly known as R. No.609, 6th Floor, बनाम/ UCIL Investment Ltd.), Aayakar Bhavan, Vs. 69A Mittal Chambers, M.K. Road, Nariman Point, Mumbai-400020 Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AAACV4048D "नधा"रती…

ITO 3(2)(2), Mumbai vs. Millennium Appliances India Ltd, Mumbai

The appeal of the Revenue is dismissed

ITA 5149/MUM/2015[2011-12]Status: DisposedITAT Mumbai18 Jan 2018AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 Income Tax Officer-3(2)(2), M/S Millenium Room No.673, 6Th Floor, Appliances India Ltd. बनाम/ Aayakar Bhavan, 171-C, Mittal Court, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) Pan. No.Aaccm7838D

Section 143(3)Section 144CSection 14ASection 153A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘बी’,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘B’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member Assessment Year: 2011-12 Income Tax Officer-3(2)(2), M/s Millenium Room No.673, 6th Floor, Appliances India Ltd. बनाम/ Aayakar Bhavan, 171-C, Mittal Court, Vs. M.K. Road, Nariman Point, Mumbai-400020 Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) PAN. No.AACCM7838D राज"व क" ओर से / Revenue by Shri Sumar Kumar-DR "नधा"रती क" ओर से / Assessee by Sh…

DCIT - 14(1)(1), Mumbai vs. Bnp Paribas Asset Management India Pvt. Ltd., Mumbai

In the result, all the appeals filed by the revenue are hereby ordered to be dismissed

ITA 5113/MUM/2016[2010-11]Status: DisposedITAT Mumbai15 Jan 2018AY 2010-11

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm

For Appellant: Shri Niraj ShethFor Respondent: Shri V. Jenardhanan (DR)
Section 115JSection 142(1)Section 143(2)Section 14ASection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL“B” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM AND SHRI AMARJIT SINGH, JM I.T.A. Nos.5113/M/2016 & 5114/M/2016 Assessment Years: 2010-11 & 2011-12 DCIT-14(1)(1) Vs. M/s. BNP Paribas Asset R.No. 460, 4th Floor, Management India Pvt. Ltd. Aayakar Bhavan, M.K. Road, BNP Paribas House-1, Mumbai-400020 North Avenue, Maker Maxity, BKC, Bandra (E), Mumbai-400051 स्थायीलेखासं./जीआइआरसं./PAN/GIR No. : AAECA5153B (Appellant) .. (Respondent) Assessee by: Shri Niraj Sheth Department by: Shri V. Jenardhanan (DR) Date of Hearing: 31.10.2017 Date of Pronouncement: 15.01.2018 O R D E R PER AMAR…

DCIT Corporate Circle 2(1), Chennai vs. Ews Finance & Investments P Ltd., Chennai

In the result, the appeals of the Revenue are dismissed

ITA 2461/CHNY/2017[2008-09]Status: DisposedITAT Chennai21 Dec 2017AY 2008-09

Bench: Shri Abraham P.George & Shri George Mathan

For Appellant: Smt. Ruby George, IRS, CIT
Section 14A

…the Income-tax Appellate Tribunal cannot be faulted. 7. During the course of hearing, counsel for the petitioner had relied upon a decision of this court in CIT v. Taikisha Engineering India Ltd. (I. T. A. No. 115 of 2014, decided on November 25, 2014) [2015] 370 ITR 338 (Delhi). The court had, in that judgment, highlighted the necessity in view of the peculiar wording of section 14A(2) that computation or disallowance of the assessee, or claim that no expenditure was incurred for earning exempt income should be examined with reference to the accounts and only if the assessee's explanation is unsatisfactory, can…

Kesari Sanjey Kundalia, Chennai vs. DCIT, Chennai

ITA 1515/CHNY/2016[2012-13]Status: DisposedITAT Chennai21 Dec 2017AY 2012-13

Bench: Shri Abraham P.George & Shri George Mathan

For Appellant: Shri. M. Karunakaran, AdvocateFor Respondent: Mrs. Ruby George, IRS, CIT
Section 14ASection 2Section 40

…not be faulted. ITA Nos.1515/16 & 1666/17 :- 7 -: 7. During the course of hearing, counsel for the petitioner had relied upon a decision of this court in CIT v. Taikisha Engineering India Ltd. (I. T. A. No. 115 of 2014, decided on November 25, 2014) [2015] 370 ITR 338 (Delhi). The court had, in that judgment, highlighted the necessity in view of the peculiar wording of section 14A(2) that computation or disallowance of the assessee, or claim that no expenditure was incurred for earning exempt income should be examined with reference to the accounts and only if the assessee's explanation is unsatisfactory, can…

Paushak Limited, Baroda vs. The Jt. CIT, Circle-4, Now Dy.CIT, Circle-2(1)(2), Baroda

In the result, the appeal of the asssessee is allowed

ITA 2590/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad19 Dec 2017AY 2011-12
For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R
Section 10(34)Section 143(2)Section 143(3)Section 14ASection 14A(2)

…ments made in group entity are not for earning exempt income so as to invoke such a disallowance in question. The assessee also cites hon’ble jurisdictional high court decision in (2015) 376 ITR 553 (Guj) PCIT vs. India Gelatine Chemical Ltd as well as (2015) 370 ITR 338 (Delhi) CIT vs. Taikisha Engineering India Ltd to buttress its above stated argument challenging no satisfaction arrived at by the lower authorities that its books of accounts stating no expenditure to have been incurred earning of its exempt income are not correct. The Revenue strongly supports the CIT(A)’s reasoning extracted hereinabove. We ha…

Commissioner of Income Tax Del vs. M/S Maruti Udyog Ltd

ITA/250/2005HC Delhi07 Dec 2017

Bench: CASES PERTAINING TO SPL.DIVISION BENCHES

Section 14ASection 43B

…integra. As far as Question (vi) is concerned, it is covered in favour of the Assessee by the decision of the Supreme Court in Godrej & Boyce Mfg. Co. Ltd. v. DCIT (2017) 394 ITR 449 (SC) and of this Court in CIT v. Taikisha Engineering India Ltd. [2015] 370 ITR 338 (Del). Further, the ITAT has rendered a factual finding that the Assessee was seized of sufficient funds which it could have invested and therefore, there was no question of disallowance of any amount on account of interest under Section 14A of the Act. Both questions are therefore, answered in the affirmative, i.e. in favour of the Assessee…

DCIT, Chennai vs. Bgr Energy System Ltd., Chennai

In the result, appeal of the assessee and Revenue are partly

ITA 954/CHNY/2017[2010-11]Status: DisposedITAT Chennai07 Dec 2017AY 2010-11

Bench: Shri Abraham P.George & Shri George Mathan

For Appellant: Mrs. Jharna B. Harilal, C.A

…the Income-tax Appellate Tribunal cannot be faulted. 7. During the course of hearing, counsel for the petitioner had relied upon a decision of this court in CIT v. Taikisha Engineering India Ltd. (I. T. A. No. 115 of 2014, decided on November 25, 2014) [2015] 370 ITR 338 (Delhi). The court had, in that judgment, highlighted the necessity in view of the peculiar wording of section 14A(2) that computation or disallowance of the assessee, or claim that no expenditure was incurred for earning exempt income should be examined with reference to the accounts and only if the assessee's explanation is unsatisfactory, can…

Bgr Energy Systems Limited, Chennai vs. DCIT, Chennai

In the result, appeal of the assessee and Revenue are partly

ITA 660/CHNY/2017[2010-11]Status: DisposedITAT Chennai07 Dec 2017AY 2010-11

Bench: Shri Abraham P.George & Shri George Mathan

For Appellant: Mrs. Jharna B. Harilal, C.A

…the Income-tax Appellate Tribunal cannot be faulted. 7. During the course of hearing, counsel for the petitioner had relied upon a decision of this court in CIT v. Taikisha Engineering India Ltd. (I. T. A. No. 115 of 2014, decided on November 25, 2014) [2015] 370 ITR 338 (Delhi). The court had, in that judgment, highlighted the necessity in view of the peculiar wording of section 14A(2) that computation or disallowance of the assessee, or claim that no expenditure was incurred for earning exempt income should be examined with reference to the accounts and only if the assessee's explanation is unsatisfactory, can…

Take Solutions Limited, Chennai vs. ACIT, Chennai

In the result, the assessee’s appeal is partly allowed

ITA 175/CHNY/2017[2012-13]Status: DisposedITAT Chennai05 Dec 2017AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri S. Jayaraman

For Appellant: Shri Sivaraman, AdvocateFor Respondent: Shri. G.M. Doss, CIT
Section 143(3)Section 92B

…आयकरअपील"यअ"धकरण ,’डी’ "यायपीठ,चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं"ी एस जयरामन, लेखा सद"य केसम$ BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं/.I.T.A. No. 175/Mds/2017 "नधा"रण वष"/Assessment Year : 2012-13 TAKE Solutions Limited, Assistant Commissioner of Income No. 27, Tank Band Road, Vs. Tax, Nungambakkam, Corporate Circle 3(1), Chennai – 600 034. Chennai – 600 034. [PAN: AABCT 3684M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ&क'ओरसे/Appellant by : Shri Sivaraman, Advocate *+यथ&क'ओरसे/Responden…

ACIT, New Delhi vs. M/S. Cellphone Credit & Securities Pvt. Ltd., New Delhi

In the result, appeal filed by the revenue is dismissed

ITA 4336/DEL/2015[2011-12]Status: DisposedITAT Delhi21 Nov 2017AY 2011-12

Bench: Shri G.D. Agarwal & Shri Kuldip Singhin Ita Nos. 4336, 4337, 4338 & 4339/Del/2015 Assessment Years: 2011-12 Acit Vs. Cellphone Credit & Ecurities Central Circle-26, Room No. Pvt. Ltd. A-60, Naraina Indl. 323, 3Rd Floor, Ara Centre, Area, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaacc4101D) Acit Vs. Shyam Basic Infrastructure Central Circle-26, Room No. Project Pvt. Ltd. 323, 3Rd Floor, Ara Centre, A-60, Naraina Indl. Area, Jhandewalan Extn. Phase-1, New Delhi New Delhi (Applicant) (Respondent) (Pan: Aabcs3455R) Acit Vs. Intel Invofin India Pvt. Ltd. Central Circle-26, Room No. A-60, Naraina Indl. Area, 323, 3Rd Floor, Ara Centre, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaaci2366J) Acit Vs. A.T. Invofin India Pvt. Ltd. Central Circle-26, Room No. A-60, Naraina Indl. Area, 323, 3Rd Floor, Ara Centre, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaaca8248B) Revenue By: Shri U.C. Dubey, Sr. Dr

For Appellant: Shri Arvind Kumar, AdvocateFor Respondent: Shri U.C. Dubey, Sr. DR
Section 14ASection 14A(2)

…ITA Nos. 4436, 4437, 4438 and 4439/Del/2015 Assessment Year: 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “E” BENCH NEW DELHI) BEFORE SHRI G.D. AGARWAL, PRESIDENT & SHRI KULDIP SINGH, JUDICIAL MEMBER In ITA Nos. 4336, 4337, 4338 and 4339/Del/2015 Assessment Years: 2011-12 ACIT Vs. Cellphone Credit & ecurities Central Circle-26, Room No. Pvt. Ltd. A-60, Naraina Indl. 323, 3rd Floor, ARA Centre, Area, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (PAN: AAACC4101D) ACIT Vs. Shyam Basic Infrastructure Central Circle-26, Room No. Project Pvt. Ltd. 323, 3rd Floor, ARA Centre, A-60…

M/S. Bio Med Private Limited, Ghaziabad vs. Addl.CIT, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 6827/DEL/2014[2009-10]Status: DisposedITAT Delhi20 Nov 2017AY 2009-10

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2009-10]

For Appellant: Shri Akhilesh Kumar, AdvFor Respondent: Shri S.K. Jain, Sr. DR
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘A’ BENCH, NEW DELHI BEFORE SHRI B.P. JAIN, ACCOUNTANT MEMBER, AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER [Assessment Year: 2009-10] Bio-Med Private Ltd Vs. The Addl. CIT C- 96, Site No. 1, B.S. Road Range - 2 Industrial Area Ghaziabad Ghaziabad PAN : AABCB 3477 C [Appellant] [Respondent] Date of Hearing : 09.11.2017 Date of Pronouncement : 20.11.2017 Assessee by : Shri Akhilesh Kumar, Adv Revenue by : Shri S.K. Jain, Sr. DR ORDER PER B.P. JAIN, ACCOUNTANT MEMBER, This appeal filed by the assessee is directed against the order dated 18.09.2014 passed b…

DCIT, New Delhi vs. M/S. Srf Ltd., Gurgaon

In the result, the appeal of the Revenue is dismissed, and the appeal of the assessee is allowed in part for statistical purpose

ITA 3849/DEL/2013[2008-09]Status: DisposedITAT Delhi15 Nov 2017AY 2008-09

Bench: Sh.G.D.Agrawal, Hon’Ble & Sh.K.N.Charyvs Srf Ltd., Dcit, Circle-9(1), Room No.163, Block-C, Sector-45, Gurgaon. C.R. Building, New Delhi. Pan-Aaacs0206P (Appellant) (Respondent) Vs Jcit (Osd), Srf Ltd., Unitech Crest, Greenwood City, Circle-9(1), Block-C, Sector-45, Gurgaon-122003. New Delhi. Pan-Aaacs0206P (Appellant) (Respondent) Appellant By Sh.S.S.Rana, Cit Dr Respondent By Sh. Pradeep Dinodia, Ca & Sh. R.K.Kapoor, Ca Date Of Hearing 12.10.2017 Date Of Pronouncement 15.11.2017

Section 14Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’ NEW DELHI BEFORE SH.G.D.AGRAWAL, HON’BLE PRESIDENT AND SH.K.N.CHARY, JUDICIAL MEMBER vs SRF Ltd., DCIT, Circle-9(1), Room No.163, Block-C, Sector-45, Gurgaon. C.R. Building, New Delhi. PAN-AAACS0206P (Appellant) (Respondent) vs JCIT (OSD), SRF Ltd., Unitech Crest, Greenwood City, Circle-9(1), Block-C, Sector-45, Gurgaon-122003. New Delhi. PAN-AAACS0206P (Appellant) (Respondent) Appellant by Sh.S.S.Rana, CIT DR Respondent by Sh. Pradeep Dinodia, CA & Sh. R.K.Kapoor, CA Date of Hearing 12.10.2017 Date of Pronouncement 15.11.2017 ORDER PER K.N.CHARY, JUDICIAL ME…

Srf Ltd., Gurgaon vs. JCIT (OSD), New Delhi

In the result, the appeal of the Revenue is dismissed, and the appeal of the assessee is allowed in part for statistical purpose

ITA 3437/DEL/2013[2008-09]Status: DisposedITAT Delhi15 Nov 2017AY 2008-09

Bench: Sh.G.D.Agrawal, Hon’Ble & Sh.K.N.Charyvs Srf Ltd., Dcit, Circle-9(1), Room No.163, Block-C, Sector-45, Gurgaon. C.R. Building, New Delhi. Pan-Aaacs0206P (Appellant) (Respondent) Vs Jcit (Osd), Srf Ltd., Unitech Crest, Greenwood City, Circle-9(1), Block-C, Sector-45, Gurgaon-122003. New Delhi. Pan-Aaacs0206P (Appellant) (Respondent) Appellant By Sh.S.S.Rana, Cit Dr Respondent By Sh. Pradeep Dinodia, Ca & Sh. R.K.Kapoor, Ca Date Of Hearing 12.10.2017 Date Of Pronouncement 15.11.2017

Section 14Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’ NEW DELHI BEFORE SH.G.D.AGRAWAL, HON’BLE PRESIDENT AND SH.K.N.CHARY, JUDICIAL MEMBER vs SRF Ltd., DCIT, Circle-9(1), Room No.163, Block-C, Sector-45, Gurgaon. C.R. Building, New Delhi. PAN-AAACS0206P (Appellant) (Respondent) vs JCIT (OSD), SRF Ltd., Unitech Crest, Greenwood City, Circle-9(1), Block-C, Sector-45, Gurgaon-122003. New Delhi. PAN-AAACS0206P (Appellant) (Respondent) Appellant by Sh.S.S.Rana, CIT DR Respondent by Sh. Pradeep Dinodia, CA & Sh. R.K.Kapoor, CA Date of Hearing 12.10.2017 Date of Pronouncement 15.11.2017 ORDER PER K.N.CHARY, JUDICIAL ME…

ACIT, New Delhi vs. M/S Wave Industries Pvt. Ltd., New Delhi

The appeals of the Revenue are dismissed

ITA 6607/DEL/2016[2013-14]Status: DisposedITAT Delhi08 Nov 2017AY 2013-14

Bench: Shri N.K. Saini & Shri Joginder Singh

Section 14ASection 14A(2)

…आयकर अपील"य अ"धकरण, "द"ल", "यायपीठ, ‘जी’,"द"ल"। IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G”, DELHI "ी एन.के. सैनी, लेखा सद"य एवं "ी जो"ग"दर "संह, "या"यक सद"य, के सम! Before Shri N.K. Saini, Accountant Member and Shri Joginder Singh, Judicial Member, ITA Nos.6606 & 6607/Del/2016 Assessment Year: 2013-14 ACIT, M/s Wave Infratech Pvt Ltd. Central Circle-29, C-1, Sec-3, Noida, बनाम/ Room No.318, U.P.-201301 Vs. 3rd Floor, ARA Centre, Or Jhandewalan Extn. M/s Wave Infratech Pvt. Ltd. New Delhi Mezzaine Floor, M-4, South Extension, Part-II, New Delhi-110049 (राज"व /Revenue) ("नधा&'रती /Assessee) PAN. No.…

ACIT, New Delhi vs. M/S Wave Infratech Pvt. Ltd., Noida

The appeals of the Revenue are dismissed

ITA 6606/DEL/2016[2013-14]Status: DisposedITAT Delhi08 Nov 2017AY 2013-14

Bench: Shri N.K. Saini & Shri Joginder Singh

Section 14ASection 14A(2)

…आयकर अपील"य अ"धकरण, "द"ल", "यायपीठ, ‘जी’,"द"ल"। IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES “G”, DELHI "ी एन.के. सैनी, लेखा सद"य एवं "ी जो"ग"दर "संह, "या"यक सद"य, के सम! Before Shri N.K. Saini, Accountant Member and Shri Joginder Singh, Judicial Member, ITA Nos.6606 & 6607/Del/2016 Assessment Year: 2013-14 ACIT, M/s Wave Infratech Pvt Ltd. Central Circle-29, C-1, Sec-3, Noida, बनाम/ Room No.318, U.P.-201301 Vs. 3rd Floor, ARA Centre, Or Jhandewalan Extn. M/s Wave Infratech Pvt. Ltd. New Delhi Mezzaine Floor, M-4, South Extension, Part-II, New Delhi-110049 (राज"व /Revenue) ("नधा&'रती /Assessee) PAN. No.…

Ddb Mudra P.Ltd, Mumbai vs. DCIT Cir 6(3), Mumbai

The appeal of the assessee is partly allowed

ITA 5656/MUM/2016[2011-12]Status: DisposedITAT Mumbai02 Nov 2017AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 M/S Ddb Mudra Pvt. Ltd. Dcit, Opp. Grand Hyatt, Circle-6(3), बनाम/ Santacruz (E) Mumbai Vs. Mumbai-400055 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aaacm5763H

Section 14ASection 14A(2)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ‘सी’ ,मुंबई। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, ‘C’ MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी राजेश कुमार, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri Rajesh Kumar, Accountant Member Assessment Year: 2011-12 M/s DDB Mudra Pvt. Ltd. DCIT, Opp. Grand Hyatt, Circle-6(3), बनाम/ Santacruz (E) Mumbai Vs. Mumbai-400055 ("नधा"रती /Assessee) (राज"व /Revenue) PAN. No.AAACM5763H "नधा"रती क" ओर से / Assessee by Shri Rishabh Shah Shri Rajat Mittal-DR राज"व क" ओर से / Revenue by 02/11/2017 सुनवाई क" तार"ख / Date of Hearing : 02/11/2017 आदेश…

ACIT, New Delhi vs. M/S. Moonstar Securities Trading & Finance Co. Pvt. Ltd., New Delhi

In the result appeal filed by the assessee is allowed

ITA 4661/DEL/2014[2011-12]Status: DisposedITAT Delhi31 Oct 2017AY 2011-12

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: “That theFor Respondent: “1. The
Section 115JSection 14Section 143(1)Section 14ASection 250

…ounts of the assessee should record his satisfaction about the correctness of the claim. In the present case we do not find any such satisfaction recorded by the ld Assessing Officer. Hon'ble Delhi High Court in case of CIT Vs. Taikisha Engineering India Ltd. 370 ITR 338 has held as under:- “14. The view and the legal ratio expressed above is not being elucidated for the first time. The Delhi High Court in Maxopp Investment Ltd. v. CIT [2012] 347 ITR 272 (Delhi), has observed (page 290) : "Scope of sub-sections (2) and (3) of section 14A Sub-section (2) of section 14A of the said Act provides the manner in which…

M/S. Moonstar Securities Trading & Finance Co. Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result appeal filed by the assessee is allowed

ITA 4562/DEL/2014[2011-12]Status: DisposedITAT Delhi31 Oct 2017AY 2011-12

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: “That theFor Respondent: “1. The
Section 115JSection 14Section 143(1)Section 14ASection 250

…ounts of the assessee should record his satisfaction about the correctness of the claim. In the present case we do not find any such satisfaction recorded by the ld Assessing Officer. Hon'ble Delhi High Court in case of CIT Vs. Taikisha Engineering India Ltd. 370 ITR 338 has held as under:- “14. The view and the legal ratio expressed above is not being elucidated for the first time. The Delhi High Court in Maxopp Investment Ltd. v. CIT [2012] 347 ITR 272 (Delhi), has observed (page 290) : "Scope of sub-sections (2) and (3) of section 14A Sub-section (2) of section 14A of the said Act provides the manner in which…