Gareware Wall Ropes Ltd. v. ACIT

46 Taxmann.com 18Income Tax Appellate Tribunal2014#5288 most cited

What is Gareware Wall Ropes Ltd. v. ACIT authority for?

Strategic investments in wholly-owned subsidiaries are to be excluded when calculating the disallowance under Section 14A, which pertains to expenses incurred in relation to exempt income. This exclusion applies even when these investments are made for holding a controlling stake rather than for earning dividends.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2016 to 2026.

Also referred to as

Gareware Wall Ropes Ltd. · ACIT · 2014 · 46 Taxmann.com 18 · section 14A · disallowance · exempt income · strategic investment · subsidiary · wholly-owned subsidiary · controlling stake · dividend income

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Issues it is cited on

strategic investmentsection 145double taxationsection 14asection 10salaryprevious yearsection 143(2)transferprescribedcompanysection 14

Judgments citing Gareware Wall Ropes Ltd. v. ACIT

Af-Taab Investment Company Ltd, Mumbai vs. ITO WD 2(1)(2), Mumbai

The appeal of the assessee are hereby allowed for statistical purpose

ITA 3684/MUM/2012[2004-05]Status: DisposedITAT Mumbai11 May 2016AY 2004-05

Bench: S/Shri B.R.Baskaran & Amarjit Singhआयकर अपील सं/ I.T.A. No.3684/Mum/2012 & I.T.A. No.8981/Mum/2010 ("नधा"रण वष" / Assessment Year: 2004-05 & 2005-06) Af-Taab Investment Company The Income Tax Officer बनाम/ Limited 2(1)(2) Vs. Corporate Centre, ‘B’ Block, Mumbai 34, Sant Tukaram Road, Carnac Bunder, Mumbai - 400009 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaaca4800H (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Shri P. J. PardiwalaFor Respondent: Shri Manoj Kumar
Section 14ASection 36(1)(iii)

…आयकर अपील"य अ"धकरण,“ए” "यायपीठ, मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI "ी बी. आर. बा"करन, लेखा सद"य यवं "ी अमरजीत "संह, "या"यक सद"य, के सम" BEFORE S/SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND AMARJIT SINGH, JUDICIAL MEMBER आयकर अपील सं/ I.T.A. No.3684/Mum/2012 & I.T.A. No.8981/Mum/2010 ("नधा"रण वष" / Assessment Year: 2004-05 & 2005-06) Af-taab Investment Company The Income Tax Officer बनाम/ Limited 2(1)(2) Vs. Corporate Centre, ‘B’ Block, Mumbai 34, Sant Tukaram Road, Carnac Bunder, Mumbai - 400009 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACA4800H (अपीलाथ" /Appellant) .. (""यथ" / Respondent)…

Jaycee Homes Ltd, Mumbai vs. ITO 8(2)(1), Mumbai

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

ITA 1067/MUM/2014[2007-08]Status: DisposedITAT Mumbai16 Mar 2016AY 2007-08

Bench: Shri C.N. Prasad & Shri Ashwani Tanejaassessment Year: 2010-11 Jigar Commodities & Ito-8(2)(1), Derivatives P. Ltd., Aayakar Bhavan, बनाम/ 301-308 Bhagwati House, M.K. Road, Vs. P.Lot A/19 Veera Desai Rd. Mumbai-400020 Andheri (E) Mumbai- 400058 (Assessee) (Revenue) P.A. No.Aaacj1728P

Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ,J,मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “J”, MUMBAI Before Shri C.N. Prasad, Judicial Member, and Shri Ashwani Taneja, Accountant Member Assessment Year: 2010-11 Jigar Commodities & ITO-8(2)(1), Derivatives P. Ltd., Aayakar Bhavan, बनाम/ 301-308 Bhagwati House, M.K. Road, Vs. P.Lot A/19 Veera Desai Rd. Mumbai-400020 Andheri (E) Mumbai- 400058 (Assessee) (Revenue) P.A. No.AAACJ1728P "नधा"रती क" ओर से / Assessee by Shri Rajiv Khandelwal (AR) Shri Ashish Heliwal, (DR) राज"व क" ओर से / Revenue by 07/03/2016 सुनवाई क" तार"ख / Date of Hearing : आदेश क" तार"ख /Dat…