DCIT v. Teenlok Advisory Services (P) Ltd.

159 ITD 991Income Tax Appellate Tribunal2016#11149 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2016 to 2026.

Sections most often in play

Section 143(3) of the Income Tax Act Section 145(3) of the Income Tax Act

Judgments citing DCIT v. Teenlok Advisory Services (P) Ltd.

M/S.Dee Control and Electric Private Limited, Kanpur vs. Deputy Commissioner of Income Tax-6, Kanpur

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 551/LKW/2018[2015-16]Status: DisposedITAT Lucknow25 Feb 2026AY 2015-16

Bench: SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SH. NIKHIL CHOUDHARY (Accountant Member)

For Appellant: Sh. B.P. Yadav, AdvFor Respondent: Sh. R.R.N. Shukla, Addl CIT DR

Section 143(3)Section 145(3)

…ple had been followed in previous years. In support of his arguments, he relied upon the decisions of the Hon’ble Kerela High Court in the case of CIT vs. Chinna Nachimuthu Construction (2008) 297 ITR 70 (Ker), DCIT vs Teenlog Advisory Services P. Ltd. (2016) 159 ITD 991 (Kolkata) and the decision of the 3 M/s Dee Control and Electric Private Limited A.Y. 2015-16 Hon’ble Patna High Court in the matter of Shyam Bihari vs. CIT (2012) 345 ITR 283 (Pat). He also filed a petition under Rule 29 for admission of additional evidence. It was prayed that all the FDRs/DDs/EMDs were made wholly and exclusively for the purp…

Sansera Engineering Limited (Formerly Known As Sansera Engineering Private Limited), Bangalore vs. Commissioner of Income Tax(Appeals)- 14, Bangalore

ITA 132/BANG/2021[2009-10]Status: DisposedITAT Bangalore27 Apr 2022AY 2009-10

Bench: Shri N. V. Vasudevan & Ms. Padmavathy Sassessment Year : 2009-10 M/S. Sansera Engineering Ltd., Cit(A) - 14, Vs. 143/A, Jigani Link Road, Bengaluru. Bommasandra Industrial Estate, Bommasandra Post, Bengaluru – 560 105. Pan : Aaecs 2440 M Appellant Respondent

For Appellant: Shri. Bharath L, CAFor Respondent: Shri. Priyadarshini Mishra, Addl. CIT(DR)(ITAT), Bengaluru

Section 143(3)Section 14A

…e done only by taking into consideration the investment which has given rise to exempt income which does not form part of the total income (ACB India Ltd. v. ACTT (374 ITR 108), REI Agro Ltd. v. DCIT (144 ITD 141), DCIT v. Teenlok Advisory Services (P.) Ltd. (159 ITD 991)). In the present case, the assessee had earned dividend income during the year only from the investments in mutual funds and not from the investments in subsidiaries. Therefore, for the purpose of calculating "average investments", opening and closing balance of investments in mutual funds should be taken. The AO has not considered this aspect a…

DCIT Cent. Cir. 7(1), Mumbai vs. Rare Enterprises, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 5208/MUM/2016[2013-14]Status: DisposedITAT Mumbai03 Oct 2018AY 2013-14

Bench: Shri B.R. Baskaran & Shri Pawan Singh

For Appellant: Ms. S. PadmajaFor Respondent: Shri S.C. Tiwari

Section 14Section 14ASection 2

…2015 (F.No.279/MISC./ 140/2015/ITJ) dated 2-11-2015. Still the AO made disallowance in the above said case. The Ld D.R also placed reliance on the decision rendered by Kolkatta bench of Tribunal in the case of DCIT vs. Teenlok Advisory Services (P) Ltd (2016)(159 ITD 991), wherein it was held that the exempt income earned from shares held as stock in trade would attract disallowance. Accordingly the Ld D.R submitted that the exempt dividend M/s. Rare Enterprises income earned from securities held as stock in trade would attract the provisions of Sec.14A of the Act. Accordingly the Ld D.R contended that the assess…

DCIT Cent. Cir. 7(1), Mumbai vs. Rare Enterprises, Mumbai

In the result, both the appeals of the revenue are dismissed

ITA 5207/MUM/2016[2012-13]Status: DisposedITAT Mumbai03 Oct 2018AY 2012-13

Bench: Shri B.R. Baskaran & Shri Pawan Singh

For Appellant: Ms. S. PadmajaFor Respondent: Shri S.C. Tiwari

Section 14Section 14ASection 2

DCIT, Central Cir. VI, Kolkata vs. M/S J.K. Lakshmi Cement Ltd., Kolkata

In the result, assessee’s CO is partly allowed

ITA 611/KOL/2013[2009-2010]Status: DisposedITAT Kolkata26 May 2017AY 2009-2010

Bench: Shri Waseem Ahmed & Shri Partha Sarathi Chowdhury

Section 142(1)Section 143(3)Section 263Section 32

…only be with reference to the investment on which dividend income had been earned during the year and this was also the view of Hon'ble Calcutta Tribunal referred above. b) In the case of CIT, Circle - 1, Kolkata v. Teenlok Advisory Services Pvt. Ltd. (2016) 159 ITD 9911 71 taxmann.com 269 (Kol - Trib.) - in this case also it was held by the Hon'ble Tribunal, Kolkata 'A' Bench that disallowance under Rule 8D has to be computed by taking into consideration only those shares which had yielded dividend income in the year under consideration. 54. On the other hand, Ld. DR heavily relied on the order of Authorities…

DCIT, CC-Xvi, Kolkata vs. Shri Ram Multicom Pvt. Ltd., Kolkata

In the result, appeal of the revenue is allowed for statistical purposes

ITA 1520/KOL/2014[2011-2012]Status: DisposedITAT Kolkata19 Oct 2016AY 2011-2012

Bench: Shri M. Balaganesh, Am & Shri S.S.Viswanethra Ravi, Jm Dcit, Cc-Xvi, Kolkata Vs. Shri Ram Multicom Pvt. Ltd., 9Th Shantineketan Building, Floor, 8, Camac Street, Kolkata- 17 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaecs 5277 N .. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से /Revenue By : None "नधा"रती क" ओर से /Assessee By : Shri K.K.Chaparia, Fca सुनवाई क" तार"ख / Date Of Hearing : 13/10/2016 घोषणा क" तार"ख/Date Of Pronouncement 19/10/2016 आदेश / O R D E R Per M.Balaganesh, Am This Appeal Of The Assessee Arises Out Of The Order Of Learned Cit(A)-Ii, Kolkata, In Appeal No.73/Cc-Xvi/Cit(A)C-Ii/1.3-14, Dated 19.05.2014 Passed Against The Assessment Framed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’).

For Appellant: Shri K.K.Chaparia, FCAFor Respondent: None

Section 10(34)Section 143(3)Section 14A

…fore the ld. CIT(A). In addition, he placed reliance on the decisions of coordinate bench of the Tribunal in the case of DCIT Vs. K.B.Capital Markets (P) Ltd., [2016] 71 taxmann.com 354 (Kolkata Tribunal) and DCIT Vs. Teenlok Advisory Services (P) Ltd, [2016] 159 ITD 991 (Kolkata Tribunal), dated 8.6.2016, in support of his various contentions. 10. We have heard ld. AR. We find that the issue regarding consideration of investments yielding exempt income alone ought to be considered for the purpose of computing the disallowance under rule 8D is well settled by the decision of the Tribunal as relied on by the ld.…

DCIT, Circle-6, Kolkata vs. Uco Bank, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1281/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR

Section 143(3)Section 36(1)(viia)

…s, the ld DR argued that the provisions of section 14A of the Act are indeed applicable to stock in trade and placed reliance on the decision of the co-ordinate bench of this tribunal in the case of DCIT vs Teenlok Advisory Services (P) Ltd reported in (2016) 159 ITD 991 (Kolkata Trib) , which in turn placed reliance on the Third member decision of the Mumbai Tribunal in the case of D.H.Securities (P) Ltd vs DCIT reported in (2014) 146 ITD 1 (Mumbai Trib ) (TM ). He argued that the said third member decision in turn placed reliance on the decision of Hon’ble Jurisdictional High Court in the case of Dhanuka & Sons…

Uco Bank, Kolkata vs. DCIT, Circle -6, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1202/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR

Section 143(3)Section 36(1)(viia)

DCIT, Cir-6, Kolkata vs. West Bengal Infrastructure Development Finance Corporation Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 296/KOL/2014[2010-2011]Status: DisposedITAT Kolkata04 Oct 2016AY 2010-2011

Bench: Shri P.M. Jagtap & Shri K. Narasimha Chary

Section 14ASection 8D(2)(iii)

…rder of the Tribunal in the case of REI Agro Limited has already been dismissed by the Hon’ble Calcutta High Court was also not brought to the notice of the Tribunal in the said case. In the case of DCIT –vs.- Teenlok Advisory Services (P) Limited reported in 159 ITD 991 (Kolkata-Trib.) decided subsequently on 08.06.2016 , both these aspects, however, were clearly brought to the notice of the Tribunal and taking note of the same, the Tribunal directed the Assessing Officer to compute the disallowance under section 14A as per Rule 8D by taking into consideration only those shares, which had yielded dividend income…