CIT v. Winsome Textile Industries Ltd.

319 ITR 204High Court2009#196 most cited

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

Section 14A of the Income-tax Act, 1961, which disallows expenditure incurred in relation to exempt income, is not applicable if the assessee has not earned any exempt income in the relevant assessment year.

378

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2013 to 2026.

Also referred to as

CIT v. Winsome Textile Industries Ltd. · 319 ITR 204 · Section 14A · disallowance · exempt income · no exempt income · Rule 8D · assessment year · business expenditure · Income Tax Act

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.

M/S Chinq Micron Chem (P) Ltd., Paonta Sahib vs. DCIT, Circle, Shimla

Appeal of the assessee is treated as allowed for statistical purposes

ITA 1416/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh21 Aug 2018AY 2013-14
For Appellant: Sh. Harry Rikhy, AdvocateFor Respondent: Sh. Surinder Meena, JCIT
Section 14ASection 36Section 80I

…of the Assessing officer. 15. We find that the issue is now squarely covered by the following decisions of the different High Courts in favour of the assessee. CIT, Faridabad Vs. Lakhani Marketing Inc.’ 226 Taxman 45 (P&H) CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H) Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116 (Gujarat High Court) CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 In all the above referred to case laws, the Hon'ble High Courts have been unanimous to hold that no disallowance is attracted u/s 14A of ITA Nos. 1417 & 1416/…

DCIT 10(2)(2), Mumbai vs. Mirc Electronics Private Ltd, Mumbai

In the result, the appeal Revenue is dismissed

ITA 3845/MUM/2018[2013-14]Status: DisposedITAT Mumbai10 Aug 2018AY 2013-14

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.3845 & 3846/Mum/2018 (नििाारण वर्ा / Assessment Year : 2013-14 & 2014-15) बिाम/ Dcit-10(2)(2) Mirc Electronics Room No. 216-A, 2Nd Floor Limited, G-1, Aayakar Bhavan, M K Road Onida House, V. Mumbai-400020 Mahakali Caves Road, Midc, Mumbai-400093 स्थायी ऱेखा सं./ Pan : Aaacm8055A (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri. Satish Chandra Rajore Assessee By : Shri Dharmendra Singh सुनवाई की तारीख /Date Of Hearing : 10.08.2018 घोषणा की तारीख /Date Of Pronouncement : 10.08.2018 आदेश / O R D E R Per Bench: These Two Appeals, Filed By Revenue, Being Ita No. 3845 & 3846/Mum/2018 For Assessment Year 2013-14 & 2014-15 Respectively , Are Directed Against Separate Appellate Order(S) Both Dated 27.03.2018 Passed By Learned Commissioner Of Income Tax (Appeals)-17, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2013-14 & 2014-15 Respectively , The Appellate Proceedings Had Arisen Before Learned Cit(A) From Separate Assessment Order(S) Dated 28.03.2016 & 29.12.2016 Respectively Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act

For Appellant: Shri Dharmendra SinghFor Respondent: Shri. Satish Chandra Rajore
Section 10(34)Section 143(3)Section 14A

…ate Limited (2015) 55 taxmann.com 262(All. HC) b) CIT v. Corrtech Energy Private Limited (2014) 45 taxmann.com 116( Guj. HC) I.T.A. No.3845 & 3846/Mum/2018 c) Delite Enterprises (2010) 8 taxmann.com 10 (Bom. HC) d) CIT v. Winsome Textiles Industries Limited 319 ITR 204(P&H) e)Joint Investments Private Limited v. CIT (2015) 372 ITR 694 (Del. HC) f) Pr. CIT v. Empire Package Private Limited (2017) 81 taxmann.com 108 (P&H HC) 4. That‟s how Revenue is in appeal before us being aggrieved by relief granted by learned CIT(A). The learned DR relied upon assessment order passed by the AO while the learned counsel for th…

DCIT Cir. 2(2)(1), Mumbai vs. L & T Power Development Ltd., Mumbai

In the result, the appeal of the revenue stand dismissed

ITA 874/MUM/2017[2013-14]Status: DisposedITAT Mumbai10 Aug 2018AY 2013-14

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.874/Mum/2017 (नििाारण वर्ा / Assessment Year : 2013-14) Dcit Cit 2(2)(1) बिाम/ L&T Power Development Room No. 545, 5 Th Floor, Ltd., Aayakar Bhavan, L&T House, N.M. Road, V. M.K Road, Ballard Estate, Mumbai-400020 Mumbai-400038 स्थायी ऱेखा सं./ Pan : Aabcl3867C (अपीऱाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri. Nishant Samaiya, Dr Assessee By : Shri Govind Jhaveri सुनवाई की तारीख /Date Of Hearing : 09.08.2018 घोषणा की तारीख /Date Of Pronouncement : 09.08.2018 आदेश / O R D E R Per Ramit Kocharthis Appeal, Filed By The Revenue, Being Ita No. 874/Mum/2017, Is Directed Against Appellate Order Dated 09.11.2016 Passed By Learned Commissioner Of Income Tax (Appeals)-5, Mumbai (Hereinafter Called “The Cit(A)”), For Assessment Year 2013-14, The Appellate Proceedings Had Arisen Before Learned Cit(A) From Assessment Order Dated 30.11.2015 Passed By Learned Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Called “The Act”) For Assessment Year 2013-14. I.T.A. No.874/Mum/2017

For Appellant: Shri Govind JhaveriFor Respondent: Shri. Nishant Samaiya, DR
Section 143(3)Section 14A

…n CIT v/s Lakhani Marketing Income. IT appeal No 970/2008, dated 02.04.2014, made reference to two earlier decisions of the same Court in CIT V/s Hero Cycles Ltd [2010] 323 ITR 518/189 Taxman 50 (Punj. & Har.) and CIT V/s Winsome Textime Industries Ltd [2009] 319 ITR 204 (Punj. And Har) to hold that Section 14A, cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in CIT V/s Corrtech Energy (P) Ltd. [2014] 223 Taxman 130/45 taxmann.com 116. The third decision is of the Allahabad High Court in Income Tax Appeal No 88 of 2014, CIT V/s Shivam Motors (P) LTD [IT Appeal…

Kanyakumari Builders P.Ltd, Mumbai vs. DCIT CC 4(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 498/MUM/2017[2013-14]Status: DisposedITAT Mumbai10 Aug 2018AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Kanyakumari Builders Pvt. Ltd., V. Dcit Central Circle – 4(2) Raheja Chamber, Linking Road, Mumbai Main Avenue, 23-25 M.G. Road, Santacruze (W). Mumbai -400 054

For Appellant: Shri Nishit GandhiFor Respondent: Shri Abiram Kartikeyan
Section 14A

…Industries Ltd. [ ITA.No.110 of 2009 (Bom.)] b. CIT v. Corrtech Energy (P.) Ltd. [372ITR 97 (Gujarat)] c. CIT v. M/S. Shivam Motors (P) Ltd. [230 TAXMAN 0063 (All.)] Cheminvest Limited v. CIT [378 ITR 33 (Delhi)] d. e. CIT v. Winsome Textile Industries Ltd. [319 ITR 204 (P&H)] f. M/s. Siva Industries & Holdings Ltd. v. ACIT [145 TTJ (Chennai) 530] 3. Ld. Counsel for the assessee invited our attention to Para No.5 of the Assessment Order and submitted that assessee furnished letter dated 11.01.2016 stating that it had not received any exempt income and also made suomotu disallowance of ₹.13,12,161/- in the comput…

DCIT -1(3)(2), Mumbai vs. Tata Lockheed Martinaerostructures Ltd., Hyderabad

In the result , appeal of the Revenue is partly allowed as indicated above

ITA 2667/MUM/2016[2011-12]Status: DisposedITAT Mumbai08 Aug 2018AY 2011-12

Bench: Shri Saktijit Dey & Shri Ramit Kochar

For Appellant: Ms. Arati VissanjiFor Respondent: Shri V. Justin,DR
Section 143(3)Section 14A

…009) 310 ITR 421 (Bom) [Affirmed in 326 ITR I (SC)] (e) CIT v. Reliance Industries Ltd. 339 ITR 632 (Bom) (f) CIT v. Metalman Auto P. Ltd. (2011) 336 ITR 434 (P&H) (g) CIT v. Hero Cycles Ltd. (2010) 323 ITR 518 (P&H) (h) CIT v. Winsome Textile Industries Ltd. 319 ITR 204 (P&H) (i) Godrej & Boyce Manufacturing Co Ltd, 328 ITR 81 (Bombay High Court) (j) Wimco Seedlings Ltd. v. DCIT (2007) 107 ITD 267 (Del) (TM) (k) Relaxo Footwears Ltd.,V. ACIT (2012) 50 SOT 102 (DEL); (I) Chanakya International Pvt. Ltd.v. ACIT (2013) 36 CCH 032 (Mum); (m) Justice Ram P Bharucha v. Addl. CIT (2012) 53 SOT 192. 5. Our attention was…

Sodexo Food Solutions India P Ltd, Mumbai vs. DCIT RG 8(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 304/MUM/2014[2002-03]Status: DisposedITAT Mumbai08 Aug 2018AY 2002-03

Bench: Shri Joginder Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./I.T.A. Nos.304 & 305/Mum/2014 (िनधा"रणवष" / Assessment Years: 2002-03 & 2003-04) Sodexo Food Solutions India Deputy Commissioner Of Income Private Limited Tax Range-8(3) (Formerly Known As Radhakrishna Hospitality 2Nd Floor, Aaykar Bhavan बनाम/ Services Private Limited) M.K.Road, Mumbai -400 020 Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.7042/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Sodexo Food Solutions India Assistant Commissioner Of Private Limited Income Tax -8(3) (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor बनाम/ Services Private Limited) Aaykar Bhavan, M.K.Road Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Mumbai -400 020 Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.6864/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Assistant Commissioner Of Sodexo Food Solutions India Private Limited Income Tax -8(3) बनाम/ (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor Services Private Limited) Vs. Aaykar Bhavan, M.K.Road Gemstar Commercial Complex 1St Floor, Ramchandra Lane Extn.

For Appellant: J.D.Mistry, Ld.ARFor Respondent: V.Justin, Ld. DR
Section 143(3)Section 254

…Court 81 Taxmann.com 108 5. CIT Vs Lakhani Marketing Inc. Hon’ble Punjab & Haryana High Court 2015 4 ITR-OL 246 6. CIT Vs Hero Cycles Ltd Hon’ble Punjab & Haryana High Court 323 ITR 518 7. CIT Vs. Winsome Textiles Ind. Ltd. Hon’ble Punjab & Haryana High Court 319 ITR 204 8. CIT Vs Corrtech Energy Pvt Ltd Hon’ble Gujarat High Court 223 Taxmann.com 130 The revenue is unable to bring on record any contrary judgment to controvert the same. In view of the catena of judgment of higher judicial Sodexo Food Solutions India Private Limited Assessment Years-2002-03, 2003-04 & 2009-10 authorities in favor of the assessee,…

Sodexo Food Solutions India P.Ltd ( Formelry Knwona S Radhakrishna Hospialality Services P.Ltd), Mumbai vs. Asst CIT 8(3), Mumbai

In the result, the appeal of the assessee is allowed

ITA 7042/MUM/2012[2009-10]Status: DisposedITAT Mumbai08 Aug 2018AY 2009-10

Bench: Shri Joginder Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./I.T.A. Nos.304 & 305/Mum/2014 (िनधा"रणवष" / Assessment Years: 2002-03 & 2003-04) Sodexo Food Solutions India Deputy Commissioner Of Income Private Limited Tax Range-8(3) (Formerly Known As Radhakrishna Hospitality 2Nd Floor, Aaykar Bhavan बनाम/ Services Private Limited) M.K.Road, Mumbai -400 020 Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.7042/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Sodexo Food Solutions India Assistant Commissioner Of Private Limited Income Tax -8(3) (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor बनाम/ Services Private Limited) Aaykar Bhavan, M.K.Road Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Mumbai -400 020 Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.6864/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Assistant Commissioner Of Sodexo Food Solutions India Private Limited Income Tax -8(3) बनाम/ (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor Services Private Limited) Vs. Aaykar Bhavan, M.K.Road Gemstar Commercial Complex 1St Floor, Ramchandra Lane Extn.

For Appellant: J.D.Mistry, Ld.ARFor Respondent: V.Justin, Ld. DR
Section 143(3)Section 254

…Court 81 Taxmann.com 108 5. CIT Vs Lakhani Marketing Inc. Hon’ble Punjab & Haryana High Court 2015 4 ITR-OL 246 6. CIT Vs Hero Cycles Ltd Hon’ble Punjab & Haryana High Court 323 ITR 518 7. CIT Vs. Winsome Textiles Ind. Ltd. Hon’ble Punjab & Haryana High Court 319 ITR 204 8. CIT Vs Corrtech Energy Pvt Ltd Hon’ble Gujarat High Court 223 Taxmann.com 130 The revenue is unable to bring on record any contrary judgment to controvert the same. In view of the catena of judgment of higher judicial Sodexo Food Solutions India Private Limited Assessment Years-2002-03, 2003-04 & 2009-10 authorities in favor of the assessee,…

ACIT 8(3), Mumbai vs. Sodexo Food Solutions India P.Ltd ( Formerly Known As Radhakrishna Hospitality Services P.Ltd)), Mumbai

In the result, the appeal of the assessee is allowed

ITA 6864/MUM/2012[2009-10]Status: DisposedITAT Mumbai08 Aug 2018AY 2009-10

Bench: Shri Joginder Singh, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./I.T.A. Nos.304 & 305/Mum/2014 (िनधा"रणवष" / Assessment Years: 2002-03 & 2003-04) Sodexo Food Solutions India Deputy Commissioner Of Income Private Limited Tax Range-8(3) (Formerly Known As Radhakrishna Hospitality 2Nd Floor, Aaykar Bhavan बनाम/ Services Private Limited) M.K.Road, Mumbai -400 020 Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.7042/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Sodexo Food Solutions India Assistant Commissioner Of Private Limited Income Tax -8(3) (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor बनाम/ Services Private Limited) Aaykar Bhavan, M.K.Road Gemstar Commercial Complex Vs. 1St Floor, Ramchandra Lane Extn. Mumbai -400 020 Kanchpada, Malad(W) Mumbai-400 064 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacr-2547-Q (अपीलाथ"/Appellant) (""थ" / Respondent) : & आयकरअपीलसं./I.T.A. No.6864/Mum/2012 (िनधा"रणवष" / Assessment Year: 2009-10) Assistant Commissioner Of Sodexo Food Solutions India Private Limited Income Tax -8(3) बनाम/ (Formerly Known As Radhakrishna Hospitality Room No.217, 2Nd Floor Services Private Limited) Vs. Aaykar Bhavan, M.K.Road Gemstar Commercial Complex 1St Floor, Ramchandra Lane Extn.

For Appellant: J.D.Mistry, Ld.ARFor Respondent: V.Justin, Ld. DR
Section 143(3)Section 254

…Court 81 Taxmann.com 108 5. CIT Vs Lakhani Marketing Inc. Hon’ble Punjab & Haryana High Court 2015 4 ITR-OL 246 6. CIT Vs Hero Cycles Ltd Hon’ble Punjab & Haryana High Court 323 ITR 518 7. CIT Vs. Winsome Textiles Ind. Ltd. Hon’ble Punjab & Haryana High Court 319 ITR 204 8. CIT Vs Corrtech Energy Pvt Ltd Hon’ble Gujarat High Court 223 Taxmann.com 130 The revenue is unable to bring on record any contrary judgment to controvert the same. In view of the catena of judgment of higher judicial Sodexo Food Solutions India Private Limited Assessment Years-2002-03, 2003-04 & 2009-10 authorities in favor of the assessee,…

Lodha Builders Private Limited, Mumbai vs. ACIT, Cir- 6(3), Mumbai

In the result, the appeal of the assessee is partly allowed and appeal filed by

ITA 1572/MUM/2015[2008-09]Status: DisposedITAT Mumbai23 Jul 2018AY 2008-09

Bench: Shri Pawan Singh, Jm & Shri N.K. Pradhan, Am

For Appellant: Shri Vijay Mehta-ARFor Respondent: Sh. N.S. Jangpangi CIT-DR
Section 139Section 14ASection 201Section 40

…vs. Shivam Motors (P.) Ltd. (272 CTR 277)(All.); 5. CIT vs. Cortech Energy (P) Ltd. (272 CTR 265)( Guj.); 6. CIT vs. Lakhani Marketing Incl. (271 CTR 265)(P&H); 7. CIT vs. Holcim India (P) Ltd. (272 CTR 282) (Del.); 8. CIT vs. Winsome Textile Industries Ltd. (319 ITR 204)(P&H); 9. CIT vs. Delite Enterprises (ITA No.110 of 2009 Bom) and 10.Vakrangee Ltd. vs. ACIT being ITA No.6988/Mum/2014 dated 10/08/2016 3 I.T.A. No.1572/Mum/2015 Assessment Year: 2008-09 ; I.T.A. No.1748/Mum/2015 Assessment Year: Lodha Builders Private Limited 2.2. On the other hand the CIT-DR after going through the order of authorities belo…

Rose Financiers & Commercials Pvt. Ltd., Kolkata vs. ITO, Ward - 12(4), Kolkata

In the result the appeal of the assessee is allowed

ITA 753/KOL/2018[2012-13]Status: DisposedITAT Kolkata13 Jul 2018AY 2012-13

Bench: Hon’Ble Shri N.S.Saini, Am ] Assessment Year : 2012-13

For Appellant: Shri M.Satnaliwala, ARFor Respondent: Shri Sanjoy Mukherjee, Addl. CIT
Section 14A

…l. (decision dated 2nd April 2014 of the High Court of Punjab and Haryana in ITA No. 970/2008) which in turn referred to two earlier decisions of the same Court in CIT v. Hero Cycles Limited [2010] 323 ITR 518 and CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204. The second was of the Gujarat High Court in Commissioner of Income Tax-I v. Corrtech Energy (P) Ltd. [2014] 223 Taxmann 130 (Guj.) and the third of the Allahabad High Court in Commissioner of Income Tax, Kanpur v. Shivam Motors (P) Ltd. (decision dated 5th May 2014 in ITA No. 88/2014). These three decisions reiterated the position that when an A…

Balvir Singh Sekhon, Ludhiana vs. Addl. CIT, R-VII, Ludhiana

In the result the appeal of the assessee is treated as

ITA 1229/CHANDI/2017[2011-12]Status: DisposedITAT Chandigarh10 Jul 2018AY 2011-12

Bench: Shri Sanjay Garg & Shri B.R.R. Kumarbalvir Singh Sekhon, Vs. The Addl. Cit, B-Xx-1881, St.No.5, Range Vii, Maharaj Nagar, Ludhiana. Ludhiana. Pan: Advps6951J (Appellant) (Respondent)

For Appellant: Shri Sarabjit Garg, CAFor Respondent: Smt.Meenakshi Vohra, Sr.DR
Section 14ASection 250

…quarely covered by the numerous decisions of the various High Courts including that of the Jurisdictional High Court of Punjab and Haryana in the cases of ‘CIT Faridabad Vs. Lakhani Marketing Inc.’ 226 Taxman 45 (P&H) and ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H), of the Hon'ble Delhi High Court in the case of ‘Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) and of the Hon'ble Gujarat High Court in the case of ‘Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116’ and further of the Hon'ble Allahabad High Court in the case of ‘CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 and various o…

ACIT, Sangrur vs. M/S Lotus Processors Pvt. Ltd., Barnala

In the result, the appeal of the Revenue is hereby dismissed

ITA 6/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh02 Jul 2018AY 2013-14

Bench: Shri Sanjay Garg, Judicial Membe & Ms. Annapurna Gupta, Accountantmember Assessment Year : 2013-14

For Appellant: Sh. Manoj Kumar, Sr.DRFor Respondent: S/Sh. Ashwani Kumar, CA
Section 14ASection 36Section 36(1)(iii)

…of the Assessing officer. 5. We find that the issue is now squarely covered by the following decisions of the different High Courts in favour of the assessee. CIT, Faridabad Vs. Lakhani Marketing Inc.’ 226 Taxman 45 (P&H) CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H) Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116 (Gujarat High Court) CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 ITA No. 6/Chd/2017- Lotus Processors Pvt Ltd, Barnala 3 In all the above referred to case laws, the Hon'ble High Courts have been unanimous to hold that no d…

D.B. Corp. Limited, Ahmedabad vs. The Dy. Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad

In the result, the cross appeals of revenue and the assesee are dismissed

ITA 2013/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad27 Jun 2018AY 2012-13
For Appellant: Shri Dhinal Shah, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R
Section 14Section 143(2)Section 143(3)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 f…

The Dy. Commissioner of Income Tax, Circle-1(1)(2), Ahmedabad vs. M/S. D.B. Corp. Ltd., Ahmedabad

In the result, the cross appeals of revenue and the assesee are dismissed

ITA 2009/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad27 Jun 2018AY 2012-13
For Appellant: Shri Dhinal Shah, A.RFor Respondent: Shri Prasoon Kabra, Sr. D.R
Section 14Section 143(2)Section 143(3)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 f…

D vs. Dishti Industries Ltd., Pune

In the result, the appeal of the Revenue is partly allowed for

ITA 1277/PUN/2016[2011-12]Status: DisposedITAT Pune25 Jun 2018AY 2011-12

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita No.1277/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Year : 2011-12 वष"

For Appellant: Shri Hari KrishanFor Respondent: Dr. Vivek Aggarwal
Section 14ASection 2(47)Section 43(1)

…llowance does not arise. Further, there are three decisions of different High Courts on this issue for the proposition that in absence of exempt income, no disallowance u/s.14A can be made. The same are as under : i. CIT Vs. Winsome Textile Indust.Ltd. [2009] 319 ITR 204 (P&H) ii. CIT Vs. Corrtech Energy P. Ltd. [2014] 223 taxmann 130 (Guj.) iii. CIT Vs. Shivam Motors P. Ltd. ITA No.88 of 2014 (All.) 20 Dishti Industries Limited This being so, it is held that the AO was not justified in invoking the provisions of section 14A of the IT Act when there was no exempt income shown in the return of income. Accordingl…

M/S Chandigarh Distillers & Bottlers Pvt. Ltd., Chandigarh vs. DCIT, Ludhiana

In the result both the appeals of the assessee are hereby

ITA 778/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh20 Jun 2018AY 2012-13

Bench: Shri Sanjay Garg & Ms.Annapurna Gupta

For Appellant: Shri Sudhir Sehgal, AdvFor Respondent: Smt.Chanderkanta, Addl.CIT
Section 14ASection 250

…d by the numerous decisions of the various High Courts including that of the Jurisdictional High Court of Punjab and Haryana in the case of CIT, Faridabad Vs. Lakhani Marketing Inc.’, 226 Taxman 45 (P&H) and in the case of ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H), Hon'ble Delhi High Court in the case of ‘Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) and of the Hon'ble Gujarat High Court in the case of ‘Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116’ and further of the Hon'ble Allahabad High Court in the case of ‘CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 and various othe…

ACIT, Panchkula Circle, Panchkula vs. M/S Ipf Vikram India Ltd., Panchkula

In the result the appeal of the Revenue is hereby

ITA 1246/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh15 Jun 2018AY 2013-14

Bench: Shri Sanjay Garg & Shri B.R.R. Kumarthe A.C.I.T., Vs. M/S Ipf Vikram India Ltd., Panchkula Circle, Plot No.380, Ph-I, Indl. Area, Panchkula. Panchkula. Pan: Aaaci3719F (Appellant) (Respondent)

For Appellant: Shri J.S. Kahlon, Sr. DRFor Respondent: Shri Tej Mohan Singh, Adv
Section 14ASection 250

…issue. The Ld. counsel has further submitted that the issue is now squarely covered by the numerous decisions of the various High Courts including that of the Jurisdictional High Court of Punjab and Haryana in the case of ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H), Hon'ble Delhi High Court in the case of ‘Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) and of the Hon'ble Gujarat High Court in the case of ‘Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116’ and further of the Hon'ble Allahabad High Court in the case of ‘CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 and various othe…

M/S White Stone Yarns Pvt. Ltd., Ludhiana vs. ITO, W-7(2), Ludhiana

In the result the appeal of the Revenue is hereby

ITA 1072/CHANDI/2017[2012-13]Status: DisposedITAT Chandigarh15 Jun 2018AY 2012-13

Bench: Shri Sanjay Garg & Ms.Annapurna Guptam/S White Stone Yarns Pvt. Ltd., Vs. The Income Tax Officer, 23, Ashok Vihar, Rishi Nagar, Ward 7(2), Ludhiana. Ludhiana. Pan: Aaacw4476B (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Smt.Chanderkanta, Addl.CIT
Section 14ASection 250

…issue. The Ld. counsel has further submitted that the issue is now squarely covered by the numerous decisions of the various High Courts including that of the Jurisdictional High Court of Punjab and Haryana in the case of ‘CIT Vs. Winsome Textiles’ (2009) 319 ITR 204 (P&H), Hon'ble Delhi High Court in the case of ‘Cheminvest Ltd Vs. ITO’ (2015) 378 ITR 33 (Delhi) and of the Hon'ble Gujarat High Court in the case of ‘Corrtech Energy P. Ltd. (2014) 45 Taxman.com 116’ and further of the Hon'ble Allahabad High Court in the case of ‘CIT Vs. M/s Shivam Motors (P) Ltd’ (2014) 272 CTR (All) 277 and various othe…

Matrix Enport Holdings Private Limited, Secunderabad, Hyderabad vs. ACIT, Circle-16(2), Hyderabad

In the result, appeal of assessee is allowed

ITA 15/HYD/2017[2012-13]Status: DisposedITAT Hyderabad08 Jun 2018AY 2012-13

Bench: Smt P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Matrix Enport Holdings Pvt. Vs. Asst. Commissioner Of Ltd., Secunderabad Income-Tax, Circle – 16(2), Hyderabad. Pan – Aafcm 4926R

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri M. Naveen
Section 143(1)Section 143(2)Section 143(3)Section 14A

…of an artificial method of computation on notional and assumed income. We believe thus would be carrying the artifice too far." 21. The decisions in CITv. M/s Lakhani Marketing Inc. 2014 SCC Online P&H 20357, CIT v. Winsome Textile Industries Limited [2009] 319 ITR 204 (P&H), CIT v. Shivam Motors (P) Ltd [2014]272 CTR (All) 277 have all taken a similar view. The decision in Taikisha Engineering India Pvt. Ltd (supra) does not specifically deal with this issue. 22. It was suggested by Mr. Hossain that, in the context of Section 57(iii), the Supreme Court in Prasad Moody {1978] 115 ITR 519 (SC) explained that de…

The ACIT, Central-1, Indore vs. M/S. Arihant Capital Markets Ltd., Indore

In the result, the appeal of the revenue and cross objection of

ITA 370/IND/2017[2013-14]Status: DisposedITAT Indore31 May 2018AY 2013-14

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

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

…Court in CIT Vs. M/s. Lakhani Marketing Incl. ITA No. 970/2008, in which the Honorable court has made reference to two earlier decisions of the same Court in CIT Vs. Hero Cycles Limited, [2010] 323 ITR 518and CIT Vs. Winsome Textile Industries Limited, [2009] 319 ITR 204 and held that Section 14A cannot be invoked when no exempt income was earned. Redington India Ltd. V/s Addl. CIT (2016) 97 CCH 0219 203 – 208 (Chennai) Overruling the Circular 5 of 2014 in respect of 14A – held that the provision of section 14A r.w.r. 8D cannot be made applicable in a vacuum i.e. in the absence of exempt income. Decision of Honor…