CIT v. Winsome Textile Industries Ltd.

319 ITR 204High Court2009#196 most cited

What is CIT v. Winsome Textile Industries Ltd. authority for?

Disallowance under Section 14A of the Income-tax Act cannot exceed the exempt income earned during the relevant period. If no exempt income is earned by the assessee in the relevant year, no disallowance under Section 14A is warranted.

378

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2013 to 2026.

Also referred to as

CIT v. Winsome Textile Industries Ltd. · 319 ITR 204 · Section 14A · disallowance under Section 14A · exempt income · no exempt income · disallowance limit · expenses for exempt income · disallowance not to exceed exempt income · Punjab & Haryana High Court

Sections most often in play

Section 14ASection 143(3)Section 142(2A)Section 147Section 2(22)(e)Section 40(a)(ia)Section 40A(2)(b)Section 40A(3)

Issues it is cited on

section 14a(2)disallowance of interest expenditurebusiness expediencysection 36(1)(vii)disallowance under section 14arule of consistencydisallowance u/s 14asection 14acommercial expediencysection 36(1)section 36section 40(a)(ia)

Judgments citing CIT v. Winsome Textile Industries Ltd.

NUVAMA WEALTH MANAGEMENT LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), MUMBAI

In the result, both the appeals of the assessee are

ITA 6761/MUM/2025[2015-16]Status: DisposedITAT Mumbai27 Feb 2026AY 2015-16
Section 10(34)Section 14ASection 14A(2)

…as on this basis that the tribunal held that disallowance under section 14A of the Act could not be made. In the process tribunal relied on the decision of Division Bench of Punjab and Haryana High Court in case of CIT v Winsome Textile Industries Ltd. [2009] 319 ITR 204 in which also the Court had observed as under: "7. We do not find any merit in this submission. The judgement of this court in Abhishek Industries Ltd. (2006) 286 ITR 1 was on the issue of allowability of interest paid on loans given to sister concerns, without interest. It was held that deduction for interest was permissible when loan was taken…

NUVAMA WEALTH MANAGEMENT LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-1(1), MUMBAI

In the result, both the appeals of the assessee are

ITA 6760/MUM/2025[2014-15]Status: DisposedITAT Mumbai27 Feb 2026AY 2014-15

Bench: Shri Om Prakash Kant (Account Member) & Ms. Kavitha Rajagopal ()

For Respondent: Shri Ravikant Pathak
Section 10(34)Section 14ASection 14A(2)

…as on this basis that the tribunal held that disallowance under section 14A of the Act could not be made. In the process tribunal relied on the decision of Division Bench of Punjab and Haryana High Court in case of CIT v Winsome Textile Industries Ltd. [2009] 319 ITR 204 in which also the Court had observed as under: "7. We do not find any merit in this submission. The judgement of this court in Abhishek Industries Ltd. (2006) 286 ITR 1 was on the issue of allowability of interest paid on loans given to sister concerns, without interest. It was held that deduction for interest was permissible when loan was taken…

DSP INVESTMENT MANAGERS PVT LTD,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX 3(1)(1), MUMBAI

ITA 3925/MUM/2023[2021-22]Status: DisposedITAT Mumbai13 Feb 2026AY 2021-22

Bench: Ms. Kavitha Rajagopal & Shri Girish Agrawal

For Appellant: NoneFor Respondent: Shri Annavaram Kosuri, Sr. DR
Section 14A

…Income Tax, Faridabad v. M/s. Lakhani Marketing Incl, ITA No. 970/2008, decided on 02.04.2014, made reference to two ' earlier decisions of the same Court in CIT v. Hero Cycles Limited, [2010] 323 ITR 518 and CIT vs. Winsome Textile Industries Limited, [2009] 319 ITR 204 to hold that Section 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in Commissioner of Income Tax-I v. Corrtech Energy (P.) Ltd. [2014] 223 Taxmann 130 (Guj.). The third decision is Of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax II Kanpur, v. M/…

DCIT CENTRAL CIRCLE-01, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORPORATION LTD. , KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 5793/DEL/2019[2016-17]Status: DisposedITAT Delhi23 Dec 2025AY 2016-17

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

ACIT, CENTRAL CIRCLE- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORPORATION, KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 2369/DEL/2018[2015-16]Status: DisposedITAT Delhi23 Dec 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 1893/DEL/2018[2015-16]Status: DisposedITAT Delhi23 Dec 2025AY 2015-16

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 5534/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Dec 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 5505/DEL/2017[2013-2014]Status: DisposedITAT Delhi23 Dec 2025AY 2013-2014

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

ACIT, CC- 1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 5504/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Dec 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

ACIT, CENTRAL CIRCLE-1, NEW DELHI vs. SAHARA INDIA COMMERCIAL CORP. LTD, LUCKNOW

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 4855/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Dec 2025AY 2010-11

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 4731/DEL/2017[2014-15]Status: DisposedITAT Delhi23 Dec 2025AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 4730/DEL/2017[2013-14]Status: DisposedITAT Delhi23 Dec 2025AY 2013-14

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 4729/DEL/2017[2012-13]Status: DisposedITAT Delhi23 Dec 2025AY 2012-13

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORP. LTD.,KOLKATA vs. ACIT, CC- 1, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 4728/DEL/2017[2010-11]Status: DisposedITAT Delhi23 Dec 2025AY 2010-11

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA COMMERCIAL CORPN. LTD.,KOLKATA vs. ACIT, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 2795/DEL/2017[2011-12]Status: DisposedITAT Delhi23 Dec 2025AY 2011-12

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

DCIT, NEW DELHI vs. M/S. SAHARA INDIA COMMERCIAL CORPORATION LTD., KOLKATA

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 2620/DEL/2013[2009-10]Status: DisposedITAT Delhi23 Dec 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

SAHARA INDIA,KOLKATA vs. DCIT, NEW DELHI

In the result, appeal of the Revenue is dismissed and CO of the assessee is allowed

ITA 1977/DEL/2013[2009-10]Status: DisposedITAT Delhi23 Dec 2025AY 2009-10

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanआअसं.1977/धिल्ली/2013(नि.व. 2009-10) Sahara India Commercial Corporation Ltd., Sahara India Sadan, 2A, Shakespeare Sarani, Kolkata 700071 ...... अपीलार्थी/Appellant Pan: Aadcs-6118-F बिाम Vs. Deputy Commissioner Of Income Tax, Central Circle-6, R. No. 334, E-2, Ara, ..... प्रनिवादी/Respondent Centre Jhandewalan Extn. New Delhi आअसं.4728, 2795, 4729, 4730 और 4731/धिल्ली/2017(नि.व. 2010-11 से 2014-15)

Section 142

…u/s.14A of the Act cannot exceed exempt income earned during the relevant period. Since, no exempt income is earned by the assessee during the relevant assessment year, no disallowance u/s.14A of the Act is warranted. [CIT vs. Winsome Textile Industries Ltd., 319 ITR 204 (P&H)]. The assessee has already made suo moto disallowance 30 Sahara India Commercial Corporation Ltd. ITA No. 1977/DEL/2013 (A.Y.2009-10) & Other Appeals of Rs.9,14,539/- no further disallowance u/s.14A is required to be made. In First Appellate proceedings, the CIT(A) has restricted the disallowance to Rs.38,143/- under Rule 8D(2)(iii). In…

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3038/MUM/2025[2018 19]Status: DisposedITAT Mumbai10 Dec 2025

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Madhur Agarwal a/w Shri FenilFor Respondent: Shri Ritesh Misra, CIT DR
Section 132Section 132(4)Section 135Section 14ASection 153ASection 250Section 37(1)Section 69ASection 80G

…of Income Tax, Faridabad v. M/s. Lakhani Marketing inci ITA No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT v. Hero Cycles Limited, 120101 323 ITR 518 and CIT v. Winsome Textile Industries Limited, [20091 319 ITR 204 to hold that Section14A cannot be invoked when no exempt income was earmed. The second decision is of the Gujarat High Court in Commissioner of Income Tax- v. Cortech Energy (P) Ltd. (2014) 223 Taxman 130 (Guj) The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (Kanpur, M/s. Shivam Mo…

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 1601/MUM/2025[2018-19]Status: DisposedITAT Mumbai10 Dec 2025AY 2018-19

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Madhur Agarwal a/w Shri FenilFor Respondent: Shri Ritesh Misra, CIT DR
Section 132Section 132(4)Section 135Section 14ASection 153ASection 250Section 37(1)Section 69ASection 80G

…of Income Tax, Faridabad v. M/s. Lakhani Marketing inci ITA No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT v. Hero Cycles Limited, 120101 323 ITR 518 and CIT v. Winsome Textile Industries Limited, [20091 319 ITR 204 to hold that Section14A cannot be invoked when no exempt income was earmed. The second decision is of the Gujarat High Court in Commissioner of Income Tax- v. Cortech Energy (P) Ltd. (2014) 223 Taxman 130 (Guj) The third decision is of the Allahabad High Court in Income Tax Appeal No. 88 of 2014, Commissioner of Income Tax (Kanpur, M/s. Shivam Mo…

E-ALLY SECURITIES (INDIA) PVT. LTD.,RAIGAD vs. DCIT CIRCLE, PANVEL, PANVEL

In the result, the appeal filed by the assessee is allowed

ITA 109/PUN/2025[2018-19]Status: DisposedITAT Pune26 May 2025AY 2018-19

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2018-19

For Appellant: Shri Samir ShahFor Respondent: Shri Shashank Ojha - JCIT
Section 143(2)Section 14A

…as on this basis that the tribunal held that disallowance under section 14A of the Act could not be made. In the process tribunal relied on the decision of Division Bench of Punjab and Haryana High Court in case of CIT v Winsome Textile Industries Ltd. [2009] 319 ITR 204 in which also the Court had observed as under : "7. We do not find any merit in this submission. The judgement of this court in Abhishek Industries Ltd. (2006) 286 ITR 1 was on the issue of allowability of interest paid on loans given to sister concerns, without interest. It was held that deduction for interest was permissible when loan was taken…

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CIT v. Winsome Textile Industries Ltd. (319 ITR 204) — Cited in 378 Judgments | BharatTax