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 366,470 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.

DCIT, Range-6, Lucknow vs. M/S. U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 229/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., I. T. Act No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. 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 Vs. 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 (li) Kanpur, Vs…

U.P. State Sugar Corporation Ltd., Lucknow vs. DCIT, Range-VI, Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 227/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., I. T. Act No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. 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 Vs. 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 (li) Kanpur, Vs…

DCIT, Lucknow vs. M/S U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 588/LKW/2019[2014-15]Status: DisposedITAT Lucknow16 May 2025AY 2014-15

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., I. T. Act No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. 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 Vs. 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 (li) Kanpur, Vs…

DCIT, Lucknow vs. M/S U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 587/LKW/2019[2012-13]Status: DisposedITAT Lucknow16 May 2025AY 2012-13

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., I. T. Act No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. 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 Vs. 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 (li) Kanpur, Vs…

DCIT, Lucknow vs. M/S U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 485/LKW/2019[2013-14]Status: DisposedITAT Lucknow16 May 2025AY 2013-14

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…Tax, Faridabad Vs. M/s. Lakhani Marketing Incl., I. T. Act No. 970/2008, decided on 02.04.2014, made reference to two earlier decisions of the same Court in CIT Vs. 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 Vs. 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 (li) Kanpur, Vs…

Cobol Technologies P.Ltd, New Delhi vs. ACIT, Central Circle-18, New Delhi

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

ITA 5505/DEL/2018[2014-15]Status: DisposedITAT Delhi25 Apr 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…

M/S Yum Restaurants (India) Pvt. Ltd., Gurgaon vs. ITO, New Delhi

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

ITA 2369/DEL/2016[1999-00]Status: DisposedITAT Delhi11 Feb 2025AY 1999-00

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…

Mehrunnisan Sherwani, Okhla vs. Income Tax Officer W 28(1), Delhi

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

ITA 4728/DEL/2024[2012-2013]Status: DisposedITAT Delhi06 Jan 2025AY 2012-2013

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, Circle 1(1), Trivandrum vs. Hll Lifecare Ltd, Trivandrum

In the result, the Special Bench decision in the case of Cheminvest

ITA 321/COCH/2024[2016-17]Status: DisposedITAT Cochin09 Dec 2024AY 2016-17

Bench: Shri Inturi Rama Rao & Shri Prakash Chand Yadav

For Appellant: Smt.Leena Lal, Senior ARFor Respondent: --- None ---
Section 14A

…cial method of computation on notional and assumed income. We believe this would be carrying the artifice too far”. 21. The decision in CIT v. Lakhani Marketing Inc. (2014) 49 taxmann.com 257/226 Taxman 45 (Mag.), CIT v. Winsome Textile Industries Ltd. (2009) 319 ITR 204, CIT v. Shivam Motors (P) Ltd. (2015) 230 Taxman 63/55 taxmann.com 262 (All.) have all taken a similar view. The decision in Taikisha Engineering India (P) 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 CIT v. Rajendra Prasad Moody (1978) 1…

Dy. Commissioner of Income Tax, Aayakar Bhawan vs. Rockman Industries Limited, Focal Point

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 84/CHANDI/2024[2020-21]Status: DisposedITAT Chandigarh25 Nov 2024AY 2020-21

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Asstt. Commissioner of Income Tax, Circle-4, Aayakar Bhawan vs. Rockman Industries Limited

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 177/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh25 Nov 2024AY 2013-14

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Dy. Commissioner of Income Tax, Circle-4, Ludhiana vs. Rockman Industries Ltd

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 818/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh25 Nov 2024AY 2015-16

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Dy. Commissioner of Income Tax, Circle-4, Aayakar Bhawan vs. Rockman Industries Limited

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 817/CHANDI/2023[2014-15]Status: DisposedITAT Chandigarh25 Nov 2024AY 2014-15

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Dy. Commissioner of Income Tax, Circle-4, Ludhiana, Aayakar Bhawan vs. Rockman Industries Limited

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 796/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh25 Nov 2024AY 2018-19

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Dy. Commissioner of Income Tax, Circle-4, Aayakar Bhawan vs. Rockman Industries Limited

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 795/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh25 Nov 2024AY 2017-18

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Dy. Commissioner of Income Tax, Circle-4, Aayakar Bhawan vs. Rockman Industries Limited

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 794/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh25 Nov 2024AY 2016-17

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

DCIT Circle-4, Ludhiana vs. Rockman Industries Ltd, Ludhiana

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

ITA 748/CHANDI/2023[2010-11]Status: DisposedITAT Chandigarh25 Nov 2024AY 2010-11

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

…ence may kindly be made to the following decisions where similar view has been taken that where there is no exempt income earned, no disallowance is called for. (1) CIT v/s Corrtech Energy P Ltd, 223 Taxmann 130 (Guj) (ii) CIT v Winson Textile Industries Ltd, 319 ITR 204 (Pb.) (iii) Principal Commissioner of lncome-tax-1, Chandigarh v. Vardhman Chemtech (P.) Ltd [2019] 102 taxmann.com 132 (Punjab & Haryana).is 6. (iv) Delhi International Airport (P) Ltd, [2022] 144 Taxmann.com 80 (Del) As held by Hon'ble Delhi High Court in the case of M / s Era Infrastructure 13. India Ltd 141 taxman.com 289 that the amendment…

Biswanath Hosiery Mills Ltd., Kolkata vs. ACIT, Cir. 4(2), Kolkata

In the result, the appeal of the assessee is allowed

ITA 470/KOL/2024[2017-18]Status: DisposedITAT Kolkata25 Nov 2024AY 2017-18

Bench: Shri Anikesh Banerjee & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Shri Aayush Kedia, ARFor Respondent: Shri Mahare Yogesh Prabhakar, DR
Section 10(34)Section 143(2)Section 143(3)Section 14ASection 250

….) Ltd. v. CIT [59 taxmann.com 295 (Delhi HC)] 8) CIT vs Delite Enterprise (2009) (Bombay High Court) ITA No. 110 of 2009 (BomHC) 9) CIT vs. Corrtech Energy Pvt. Ltd. (2014) 223 Taxman 130 (Gujrat High Court) 10) CIT v. Winsome Textile Industries Ltd. [(2009) 319 ITR 204 (P&H)]” 8. We have considered the rival submissions. The Ld. AO had rightly disagreed with the disallowance made by the assessee as even the strategic investments have to be considered while computing the disallowance under Rule 8D r.w.s. 14A of the Act. However, in view of the decision of the Hon'ble Supreme Court in the A.Y. 2017-18 Biswanath H…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 303/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2017-18

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 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 CIT v. 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 Commissioner Of Income Tax, West v. Rajendra Prasad…

The Dy. Commissioner of Income Tax Circle-4(1)(1), Ahmedabad vs. Suzlon Energy Ltd., Ahmedabad

In the result the Ground Nos

ITA 302/AHD/2023[2016-17]Status: DisposedITAT Ahmedabad12 Nov 2024AY 2016-17

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Makarand Vasant Mahadeokar (Accountant Member)

Section 115JSection 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 CIT v. 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 Commissioner Of Income Tax, West v. Rajendra Prasad…