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.

Pradipta Kumar Parida DCIT321, Mumbai vs. Kail Limited, Mumbai

ITA 4669/MUM/2023[2014-15]Status: DisposedITAT Mumbai22 May 2024AY 2014-15
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 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 CIT, Central Cir.-6(4), Mumbai vs. Arshiya Ltd., Mumbai

In the result, the Ground no

ITA 1925/MUM/2020[2017-18]Status: DisposedITAT Mumbai06 Mar 2024AY 2017-18

Bench: Justice (Rtd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

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…

Dalmia (Bros) Pvt. Ltd., New Delhi vs. ITO, Ward-7(2), New Delhi

In the result, the Appeal filed by the assessee is dismissed

ITA 380/DEL/2019[2014-15]Status: DisposedITAT Delhi09 Feb 2024AY 2014-15

Bench: Her As Additional Ground Of Appeal Reading As Under :-

Section 143(3)Section 14ASection 154

…Income Tax, Faridabad Vs. 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 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-1 Vs. Corrtech Energy (P) Ltd. [2014] 223 Taxmann 130 (Guj). The third Page 15 of 20 Dalmia (Bros.) Pvt. Ltd. decision is of the Allahabad High Court in Income Tax Appeal No.88 of 2014, Comm…

Brigs Trading Co. P.Ltd, Mumbai vs. ACIT Cir 6(1), Mumbai

ITA 2270/MUM/2014[2009-10]Status: DisposedITAT Mumbai17 Jan 2024AY 2009-10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Dcit, Cir 6(1), R.No. 506, 5Th Floor, Aayakar Bhavan, M.K. Road, Mumbai-20. Appellant

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

…ncome Tax, Faridabad Vs. 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 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 Тахтапn 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, Vs…

Brigs Trading Co. P.Ltd, Mumbai vs. ACIT Cir 6(1), Mumbai

ITA 2269/MUM/2014[2008-09]Status: DisposedITAT Mumbai17 Jan 2024AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Respondent: Mr. Dalpat Shah & Mr. B.S. Sharma
Section 143(3)Section 14ASection 36Section 36(1)(vii)

…ncome Tax, Faridabad Vs. 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 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 Тахтапn 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, Vs…

DCIT Cir 6(1), Mumbai vs. Briggs Trading Co, P. Ltd, Mumbai

ITA 2136/MUM/2014[2008-09]Status: DisposedITAT Mumbai17 Jan 2024AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Appellant: Mr. Dalpat Shah & Mr. B.S. SharmaFor Respondent: Mr. Ujjawal Kumar Chavan, Sr. DR
Section 143(3)Section 14ASection 36Section 36(1)(vii)

…ncome Tax, Faridabad Vs. 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 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 Тахтапn 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, Vs…

Uniliver Industries P. Ltd, Mumbai vs. DCIT RG 1(3)(2), Mumbai

In the result, the appeal of the assessee is partly allowed

ITA 1755/MUM/2017[2012-13]Status: DisposedITAT Mumbai09 Jan 2024AY 2012-13

Bench: Shri Aby T. Varkey, Jm & Shri S Rifaur Rahman, Am आयकर अपील सं/ I.T (Tp) A. No.1755/Mum/2017 (निर्धारण वर्ा / Assessment Year: 2012-13) Unilever Industries Pvt. Ltd. बिधम/ Dcit, Range-1(3)(2) Unilever House, B. D. Mumbai. Vs. Sawant Marg, Chakala, Andheri (E), Mumbai- 400099. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aaacu0791P (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Nishant Thakkar/Ms Jasmin Amalsadwala Revenue By: Shri Manoj Kumar (Dr) सुनवाई की तारीख / Date Of Hearing: 21/12/2023 घोषणा की तारीख /Date Of Pronouncement: 09/01/2024 आदेश / O R D E R Per Aby T. Varkey, Jm: This Is An Appeal Preferred By The Assessee Company Against The Order Of The Assessing Officer (Ao) Dated 10.01.2017 Passed U/S 143(3) R.W.S 144C(13) Of The Income Tax Act, 1961 (Hereinafter “The Act”).

For Appellant: Shri Nishant Thakkar/Ms JasminFor Respondent: Shri Manoj Kumar (DR)
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…

ACIT, Circle-2, Faridabad vs. Nhpc Ltd., Faridabad

Appeal of the assessee is allowed

ITA 5299/DEL/2019[2016-17]Status: DisposedITAT Delhi14 Sept 2023AY 2016-17

Bench: SHRI SHAMIM YAHYA (Accountant Member), MS. ASTHA CHANDRA (Judicial Member)

For Appellant: Shri Ved Jain, AdvocateFor Respondent: Shri Sanjay Pandey, CIT DR
Section 115JSection 14ASection 80

…out of the interest free funds provided by the government and in view of the decisions of the Hon'ble Punjab and Haryana High Court in the case of CIT vs. Max India Ltd in ITA No. 186 of 2013 by order dated 6/9/2016 and CIT vs. winsome textile industries Ltd 319 ITR 204 and Bombay High Court in the case of CIT vs. HDFC bank Ltd in ITA No. 330 of 2012 by order dated 23/7/2014, no addition could be made by invoking Rule8D (2) (ii) of the Rules. 11. It is an admitted fact that a similar question in had arisen and was decided in favour of the assessee in assessee's own case for the assessment year 89, 2010-11 and 2…

Nhpc Ltd, Faridabad vs. ACIT, Circle-II, Faridabad

Appeal of the assessee is allowed

ITA 4915/DEL/2019[2016-17]Status: DisposedITAT Delhi14 Sept 2023AY 2016-17

Bench: SHRI SHAMIM YAHYA (Accountant Member), MS. ASTHA CHANDRA (Judicial Member)

For Appellant: Shri Ved Jain, AdvocateFor Respondent: Shri Sanjay Pandey, CIT DR
Section 115JSection 14ASection 80

…out of the interest free funds provided by the government and in view of the decisions of the Hon'ble Punjab and Haryana High Court in the case of CIT vs. Max India Ltd in ITA No. 186 of 2013 by order dated 6/9/2016 and CIT vs. winsome textile industries Ltd 319 ITR 204 and Bombay High Court in the case of CIT vs. HDFC bank Ltd in ITA No. 330 of 2012 by order dated 23/7/2014, no addition could be made by invoking Rule8D (2) (ii) of the Rules. 11. It is an admitted fact that a similar question in had arisen and was decided in favour of the assessee in assessee's own case for the assessment year 89, 2010-11 and 2…

M/S Mafatlal Industries Limited, Mumbai vs. Dy Commissioner of Income Tax-Central Circle-8(2), Mumbai

In the result, appeal is partly allowed

ITA 881/MUM/2023[2011-12]Status: DisposedITAT Mumbai22 Aug 2023AY 2011-12

Bench: Shri Amit Shukla () & Ms. Padmavathy S. ()

Section 143(1)Section 14ASection 36(1)(iii)Section 40

…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/…

Asst. Commissioner of Income Tax, Circle-10(1), Hyderabad vs. Vertex Projects LLP (Formerly M/S Vertex Projects Ltd), Hyderabad

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

ITA 1187/HYD/2018[2014-15]Status: DisposedITAT Hyderabad28 Apr 2023AY 2014-15

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2014-15 Acit,Circle-10(1) Vs. Vertex Projects Llp Room No.515, 5Th Floor, (Formerly M/S.Vertex A-Block, I.T.Towers, Projects Ltd.) A.C.Guards, #156-159, Paigah House Hyderabad. S.P.Road, Next To Pg College. Secunderabad-500 026. Pan : Aanfv0232C (Appellant) (Respondent) Assessee By: Shri Sriram Seshadri, Ca Revenue By: Shri Rajendra Kumar,Cit-Dr Date Of Hearing: 15.03.2023 Date Of Pronouncement: 28.04.2023 O R D E R Per Shri Laliet Kumar, J.M. This Is An Appeal Filed By The Revenue, Feeling Aggrieved By The Order Passed By The Learned Commissioner Of Income Tax (Appeals)-5, Dated 16.03.2018 For The Ay 2014-15, On The Following Grounds :

For Appellant: Shri Sriram Seshadri, CAFor Respondent: Shri Rajendra Kumar,CIT-DR
Section 115JSection 142(1)Section 143(2)Section 14ASection 14A(3)Section 47Section 56Section 56(2)(viia)Section 56(2)(viiia)

…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/…

Asstt. Commissioner of Income-Tax, Central Circle-1, Jaipur vs. M/S Manglam Build Developers Ltd, Jaipur

In the result, the appeal of the Revenue is dismissed

ITA 373/JPR/2022[2013]Status: DisposedITAT Jaipur24 Apr 2023

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri P.C. Parwal (C.A.)For Respondent: Shri James Kurian (CIT) fu/kZkfjrh dh vksj ls@
Section 133ASection 14A

…आयकरअपीलीय अधिकरण] जयपुरन्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR MkWa- ,l-lhrky{eh] U;kf;dlnL; ,oa Jh jkBksMdeys'kt;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA. No. 373/JPR/2022 fu/kZkj.ko"kZ@AssessmentYears : 2013-14 cuke The ACIT, M/s Manglam Build Developers Ltd. 6th Floor, Apex Mall, Tonk Road, Central Circle-1, Vs. Lal Kothi, Jaipur. Jaipur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCM 4862 Q vihykFkhZ@Appellant izR;FkhZ@Respondent jktLo dh vksj ls@Revenue by : Shri James Kurian (CIT) fu/kZkfjrh…

M/S Sumilon Industries Pvt. Ltd., Surat vs. The Principal Commissioner of Income Tax - 1, Surat

In the result, appeal of the assessee is allowed

ITA 87/SRT/2022[2017-18]Status: DisposedITAT Surat10 Feb 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.87/Srt/2022 ("नधा"रणवष" / Assessment Year: (2017-18) (Physical Court Hearing) M/S Sumilon Industries Pvt. Principal Commissioner Of Ltd. 6-121-A, Vairagini Wadi, Income-Tax-1, Aaykar Bhavan, Vs. Delhi Gate, Surat-395003 Majura Gate, Surat-395001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aadcs3567 L (Appellant) (Respondent) िनधा"रती की ओर से /Assessee By : Shri Mukund Bakshi, C.A राज"व क" ओर से /Respondent By: Shri Ashok B. Koli, Cit-D.R

For Appellant: Shri Mukund Bakshi, C.AFor Respondent: Shri Ashok B. Koli, CIT-D.R
Section 14Section 143(3)Section 14ASection 263

…f tax. It was on that basis the Tribunal held that disallowance under section 14A could not be made. In the process tribunal relied on the decision of Division Bench of Punjab and Haryana High Court in the case of CIT v. Winsome Textile Industries Ltd. [2009] 319 ITR 204 in which also the Court had had observed that where the assessee did not make any claim for exemption, section 14A could have no application. Similar findings was given by the Hon'ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT [2018] 91 taxmann.com 154 SC holding that only expenses proportionate to earning exempt income could be d…

ACIT, New Delhi vs. M/S. India Bulls Power Ltd., New Delhi

The appeals are dismissed in regard to the first question

ITA 2013/DEL/2017[2011-12]Status: DisposedITAT Delhi05 Jan 2023AY 2011-12

Bench: Shri Anil Chaturvedi & Ms. Astha Chandraasstt. Year: 2011-12 Acit, Vs. India Bulls Power Ltd. (Now Known Circle-21(1), As Rattan India Power Ltd.) New Delhi. 5Th Floor, Tower-B, Worldmark-1, Aerocity, New Delhi- 110 037 Pan Aalcs2063D (Appellant) (Respondent)

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Shri Anuj Garg, Sr. DR
Section 10Section 143(3)Section 14ASection 154

…d. (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-1 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…

The ACIT, Circle-4(1)(2), Ahmedabad vs. M/S. Torrent Power Limited, Ahmedabad

ITA 2047/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad28 Dec 2022AY 2013-14
For Appellant: Shri Vartik Choksi, A.RFor Respondent: Shri Ritesh Parmar, CIT. D.R
Section 14ASection 36Section 80

…was 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 C/TvWinsome Textile Industries Ltd. [2009J 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 Abhishck 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…

The ACIT, Circle-4(1)(2), Ahmedabad vs. M/S. Torrent Power Ltd., Ahmedabad

ITA 14/AHD/2018[2012-13]Status: DisposedITAT Ahmedabad28 Dec 2022AY 2012-13
For Appellant: Shri Vartik Choksi, A.RFor Respondent: Shri Ritesh Parmar, CIT. D.R
Section 14ASection 36Section 80

…was 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 C/TvWinsome Textile Industries Ltd. [2009J 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 Abhishck 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…

ACIT, Circle- 7(1), New Delhi vs. Decent Financial Services Pvt. Ltd., New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5707/DEL/2019[2015-16]Status: DisposedITAT Delhi24 Nov 2022AY 2015-16

Bench: Shri C.M. Garg & Shri Pradip Kumar Kediaassessment Year: 2015-16 Acit, Vs. Decent Financial Circle-5(2), Services Pvt. Ltd., New Delhi. A-86, Dd Shed, Okhla Industrial Area, Phase-I, New Delhi. Pan: Aaacd2899P (Appellant) (Respondent) Assessee By : Shri Amit Sharma, Advocate Revenue By : Shri Kumar Pranav, Sr. Dr Date Of Hearing : 21.11.2022 Date Of Pronouncement : 24.11.2022 Order Per C.M. Garg, Jm: This Appeal Filed By The Revenue Is Directed Against The Order Dated 10.04.2019 Of The Cit(A)-3, New Delhi, Relating To Assessment Year 2015-16. 2. The Ground Of Appeal Raised By The Revenue Reads As Under:- “1. On The Facts & In The Circumstances Of The Case & In Law, The Ld. Cit(A)Has Grossly Erred In Deleting The Disallowance Made By The Ao U/S 14A R.W. Rule 8D Of The Act Of Rs.1,62,35,930/-. 2. The Appellant Craves Leave To Add, Amend Or Forego Any Ground(S) Of Appeal At Any Time Before Or During The Hearing Of This Appeal.” 3. The Ld. Sr. Dr, Supporting The Assessment Order Dated 26.12.2017 Passed U/S 143(3) Of The Income-Tax Act, 1961 (For Short, ‘The Act’) Submitted That The Assessee Had Earned Substantial Dividend Income Of Rs.1,22,16,840/-, Therefore, The Ao Was Right In Making Disallowance U/S 14A Of The Act R.W.R. 8D Of The Income-Tax Rules, 1962 (For Short, ‘The Rules’). The Ld. Sr. Dr Submitted That The Assessee Has Capitalized Substantial Amount Of Interest Paid By Him On The Amount Invested, Therefore, The Amount Of Disallowance Has To Be Calculated Accordingly.

For Appellant: Shri Amit Sharma, AdvocateFor Respondent: Shri Kumar Pranav, Sr. DR
Section 143(3)Section 14A

…Income Tax, Faridabad Vs. M/s. Lakhani Marketing Inch, ITA 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 Appella No. 88 of 2014. Commissioner of Income Tax (ii) Kanpur, Vs…

The DCIT, Circle-1(1)(2), Ahmedabad vs. M/S. Clp India Pvt. Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 290/AHD/2020[2015-16]Status: DisposedITAT Ahmedabad04 Nov 2022AY 2015-16
For Appellant: Shri Biren Shah, A.RFor Respondent: Shri James Kurian, CIT-DR
Section 115JSection 143(3)Section 14A

…ghtful consideration to the facts and the I.T.A No. 290/Ahd/2020 A.Y. 2015-16 Page No 5 DCIT vs. M/s. CLP India Pvt. Ltd. decision relied upon by the Id. AR. The Hon'ble Punjab & Haryana High Court in the case of CIT v. Winsome Textile Industries Ltd. [2009j 319 ITR 204 has held that in the present case, admittedly, the appellant did not make any claim for exemption. In such a situation, section 14A could have no application In this case also, the appellant has no: claimed any exempt income in this year. Therefore, respectfully following the judgment of Hon'ble High Court of Punjab & Haryana in the case of Winso…

M/S. Harman Connected Services Corporation India Private Limited, Bengaluru vs. Assistant Commissioner of Income Tax, Circle- 3(1)(2), Bengaluru

In the result, the appeal is partly allowed

ITA 2243/BANG/2019[2015-16]Status: DisposedITAT Bangalore16 Sept 2022AY 2015-16

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

For Appellant: Shri T. Suryanarayana, AdvocateFor Respondent: Shri. Biju, M.K., CIT(DR)(ITAT), Bengaluru
Section 115JSection 143(2)Section 143(3)Section 14ASection 80GSection 92C

…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 IT(TP)A No.2243/Bang/2019 Page 18 of 24 Tax Appeal No. 88 of 2014, C…

DCIT, Circle- 21(1), New Delhi vs. Religare Enterprises Ltd., New Delhi

In the result, revenue’s appeal is dismissed and cross-objection

ITA 7552/DEL/2018[2014-15]Status: HeardITAT Delhi29 Aug 2022AY 2014-15

Bench: Shri Saktijit Dey & Shri Pradip Kumar Kedia:Assessment Year: 2014-15 Deputy Commissioner Of Vs. M/S. Religare Enterprises Income-Tax, Circle-21(1), Ltd., 2Nd Floor, Rajlok New Delhi Building, 24-Nehru Place, New Delhi-110019 Pan :Aaacv5888N (Appellant) (Respondent)

Section 14A

…72 CTR (P&H) 265: (2014) 111 DTR (P&H) 149— Ed.], made reference to two earlier decisions of the same Court in CIT vs. Hero Cycles Ltd. (2010) 233 CTR (P&H) 74: (2010) 31 DTR (P&H) 301: (2010) 323 ITR 518(P&H) and CITvs. Winsome Textile Industries Ltd. (2009) 319 ITR 204(P&H) to hold that s. 14A cannot be invoked when no exempt income was earned. The second decision is of the Gujarat High Court in CIT vs. Corrtech Energy (P) Ltd. (2014) 272 CTR (Guj) 20 ITA No. 7552 & CO. 27/Del./2018 262: (2014) 111 DTR (Guj) 146: (2014) 223 Taxman 130 (Guj). The third decision is of the Allahabad High Court in IT Appeal No. 8…