What is CIT v. United General Trust Ltd. authority for?

Administrative and interest expenses incurred for earning exempt dividend income are to be disallowed. This disallowance is permitted under Section 14A of the Income Tax Act.

How many judgments cite CIT v. United General Trust Ltd.?

34 judgments on BharatTax cite CIT v. United General Trust Ltd. (200 ITR 488), spanning 2016 to 2025.

Which sections of the Income Tax Act does CIT v. United General Trust Ltd. come up under?

It is most often cited in judgments turning on Section 1961, Section 10(34) of the Income Tax Act, Section 10(38) of the Income Tax Act, Section 143(1) of the Income Tax Act, Section 143(3) of the Income Tax Act, Section 144 of the Income Tax Act.

CIT v. United General Trust Ltd. (200 ITR 488)

DCIT, CC-Xxv, Kolkata vs. M/S Dpil Ltd., Kolkata

In the result, appeal filed by the Revenue on this ground is dismissed

ITA 209/KOL/2014[2002-03]Status: DisposedITAT Kolkata05 Dec 2016AY 2002-03

Bench: Dr. A.L.Saini, Am & Shri K. Narasimha Chary, Jm आयकर अपील सं./Ita No209/Kol/2014 ("नधा"रण वष" / Assessment Year :2002-2003) Dcit, Cc-Xxv, Vs. M/S Dpil Limited, 110, Shantipally, 4B, Hungerford Street, 5Th Floor, Suvira House, Kolkata-700107 Kolkata-700017 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabcd 1665 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue By : Shri Biswanath Das, Jcit "नधा"रती क" ओर से /Assessee By : Shri Agnibesh Sengupta, Advocate सुनवाई क" तार"ख / Date Of Hearing : 16/11/2016 घोषणा क" तार"ख/Date Of Pronouncement 05/12/2016 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: The Captioned Appeal Filed By The Revenue, Pertaining To The Assessment Year 2002-2003, Is Directed Against The Order Passed By Ld. Commissioner Of Income Tax (Appeals)-Iv,Kolkata, In Appeal No.160/Cit(A)-Iv/04-05, Dated 30.09.2013, Which In Turn Arises Out Of Assessment Order Passed By The Assessing Officer (Ao) Under Section143(3) Of The Income Tax Act 1961, (In Short The ‘Act’), Dated 15.02.2005. 2. Brief Facts Of The Case Qua The Assessee Are That The Assessee Filed Its Return Of Income On 30.10.2002 Along With The Audited Balance Sheet & The Tax Audit Report, Declaring A Loss Of Rs.5,18,44,247/-. The Case Was Selected For Scrutiny U/S.143(3) Of The Act & The Ao Has Completed The Assessment By Making The Addition On Account Of Interest On Term Loan, Proportionate Expenses On Account Of Exempted Income U/S 14A

For Appellant: Shri Agnibesh Sengupta, AdvocateFor Respondent: Shri Biswanath Das, JCIT

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

…and, hence, it is impossible to believe that no expenditure, however, small it may be, has been incurred for earning the above income from dividend. It has also been judicially held by Hon’ble Supreme Court in the case of CIT Vs. United General Trust Ltd., 200 ITR 488, that proportionate management expenses have 6 M/s DPIL Ltd. to be deducted from the gross dividend. The earning of dividend requires help from the management of the company and other staff members to collect the dividend warrant deposit it in the bank and also to attend the banking activities in this behalf. Therefore, it cannot be said that n…

Sonphankhi Shares & Securities P.Ltd, Mumbai vs. ITO WD 4(2)(2), Mumbai

In the result, assessee company appeal in ITA No 7068/Mum/2012 for assessment year 2009-10 is partly allowed

ITA 7068/MUM/2012[2009-10]Status: DisposedITAT Mumbai03 Aug 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Respondent: Dr. Suman Ratnam Darsi

Section 143(2)Section 143(3)Section 14ASection 234ASection 271(1)(c)Section 73

…t of the total income" in section 14A has to be given a wider meaning and would include both direct and indirect relationship between expenditure and exempt income. Following the decision of the Hon'ble Supreme Court in CIT v. United General Trust Ltd. (1993) 200 ITR 488 (SC), the Calcutta Bench of the Tribunal has also held that the interest paid by the assessee being attributable to the money borrowed for the purpose of making the investment which yielded the dividend and other expenses incurred in connection with or for making or ITA 7068/Mum/2012 23 earning the dividend income can be regarded as expenditure…

DCIT 10(3), Mumbai vs. Colgate Palmolive (India ) Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 6409/MUM/2013[2004-05]Status: DisposedITAT Mumbai26 Jul 2016AY 2004-05

Bench: Sri Mahavir Singh & Sri Manoj Kumar Aggarwalthe Dy. Commissioner Of Vs. M/S. Colgate Palmolive (India) Ltd. Income Tax-10(3), Room Main Street, Hiranandani Garden, 4Th No.451, Floor, Aayakar Powai, Mumbai 400 076 Bhavan, Maharshi Karve Road, Mumbai 400 020. Pan: Aaacc 4309B Appellant .. Respondent Appellant By .. Shri K.Mohan Das (Dr) Respondent By .. Shri Hiro Rai Date Of Hearing .. 25-07-2016 Date Of Pronouncement 25-07-2016

Section 10Section 143Section 143(3)Section 144Section 147Section 148Section 14ASection 80Section 80H

…e total income. As per the provisions of section 14A of the Act, no expenditure incurred in relation to the income not forming part of the total income is to be allowed as deduction. It has been judicially held in the case of CIT v. United General Trust Ltd. (200 ITR 488 SC) that proportionate management expenses should be deducted from the gross tax free income. Thus the assessee has claimed excess deduction to the extent of expenditure of Rs.36.64 lakhs as under: Exempt income x Total management exp. Total income Therefore, I have reason to believe that income to the extent of Rs.68,25,702/- has escaped assessm…

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

…h the AO would estimate and disallow a sum of Rs. 5 lakhs by invoking s. 14A. Only actual expenditure incurred by the assessee to earn exempted income can be disallowed by the AO under s. 14A.—CIT vs. United General Trust Ltd. (1994) 116 CTR (SC) 194 : (1993) 200 ITR 488 (SC) distinguished; Maruti Udyog Ltd. vs. Dy. CIT (2005) 92 TTJ (Del) 987 : (2005) 92 ITD 119 (Del) relied on. Expenditure which the AO seeks to disallow under s. 14A should be actually incurred; there being no material with the AO to show that any expenditure was incurred in earning dividend income, nothing could be disallowed under s. 14A on e…

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

In the result, assessee’s appeal is allowed

ITA 2028/KOL/2013[2008-09]Status: DisposedITAT Kolkata15 Jul 2016AY 2008-09

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

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

…h the AO would estimate and disallow a sum of Rs. 5 lakhs by invoking s. 14A. Only actual expenditure incurred by the assessee to earn exempted income can be disallowed by the AO under s. 14A.—CIT vs. United General Trust Ltd. (1994) 116 CTR (SC) 194 : (1993) 200 ITR 488 (SC) distinguished; Maruti Udyog Ltd. vs. Dy. CIT (2005) 92 TTJ (Del) 987 : (2005) 92 ITD 119 (Del) relied on. Expenditure which the AO seeks to disallow under s. 14A should be actually incurred; there being no material with the AO to show that any expenditure was incurred in earning dividend income, nothing could be disallowed under s. 14A on e…

Saurashtra Fuels P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

In the result, assessee appeal in ITA No 7274/Mum/2012 for assessment year 2009-10 is partly allowed

ITA 7273/MUM/2012[2007-08]Status: DisposedITAT Mumbai06 Jun 2016AY 2007-08

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Respondent: Shri Ritesh Mishra(D.R.)

Section 143(2)Section 143(3)Section 14ASection 80M

…t of the total income" in section 14A has to be given a wider meaning and would include both direct and indirect relationship between expenditure and exempt income. Following the decision of the Hon'ble Supreme Court in CIT v. United General Trust Ltd. (1993) 200 ITR 488 (SC), the Calcutta Bench of the Tribunal has also held that the interest paid by the assessee being attributable to the money borrowed for the purpose of making the investment which yielded the dividend and other expenses incurred in connection with or for making or earning the dividend income can be regarded as expenditure incurred in relation t…