Godrej & Boyce Manufacturing Company Ltd. v. DCIT

394 ITR 449Supreme Court of India2017#81 most cited

What is Godrej & Boyce Manufacturing Company Ltd. v. DCIT authority for?

Expenditure can only be disallowed under Section 14A if the income is exempt and not part of the total income. The Assessing Officer must first record dissatisfaction with the assessee's accounts or computation before proceeding to make a disallowance under Section 14A or applying Rule 8D.

683

judgments rely on this decision, according to BharatTax’s citation analysis of 367,164 Indian tax judgments — from 2016 to 2026.

Also referred to as

Godrej & Boyce Manufacturing Company Ltd. v. DCIT · Section 14A disallowance · exempt income expenditure · dividend income disallowance · Assessing Officer satisfaction · Rule 8D application · condition precedent for disallowance · income not includible in total income · AO recording dissatisfaction · 394 ITR 449

Also reported as

81 Taxmann.com 11181 Taxmann 111

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 250Section 8DSection 142(1)Section 143(2)Section 154
Read the full judgment

Issues it is cited on

section 14a(1)section 14a(2)section 36(1)(viii)dividend distribution taxddtdomestic companyinfrastructure facilitysection 10(34)disallowance under section 14asection 36(1)(vii)put to usedisallowance u/s 14a

Judgments citing Godrej & Boyce Manufacturing Company Ltd. v. DCIT

Dy.C.I.T. Cir 1(1), Bilaspur(Cg) vs. M/S Secl, Bilaspur(Cg)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 103/BIL/2015[2011-12]Status: DisposedITAT Raipur30 Oct 2023AY 2011-12

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…t S6 • CIT v Gujarat Apollo Industries Ltd (2015) 55 taxmann.com 158 (Gujarat), - copy placed as Attachment S7 • Maxopp Investment Ltd v CIT (2018) 402 ITR 640 (SC) (para 41 ), - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT (2017) 394 ITR 449 (SC) (para 38), - copy placed as Attachment S9 • CIT v HDFC Bank Ltd (2014) 366 ITR 505 (Bom), - copy placed as Attachment S10 F. Paper Book references AY 2013-14 ITA 102/RPR/2017 (Assessee’s appeal) Page 19 Balance sheet showing ‘Reserves and Surplus” Page 36 Investment in Mutual Funds, Note-14 AY 2013-14 ITA 103/RPR/2017 (Assessee’s appeal) Pa…

South Eastern Coalfields Ltd, Bilaspur(Cg) vs. Dy.. C.I.T.-1(1), Bilaspur(Cg)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 401/BIL/2014[2010-11]Status: DisposedITAT Raipur30 Oct 2023AY 2010-11

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…t S6 • CIT v Gujarat Apollo Industries Ltd (2015) 55 taxmann.com 158 (Gujarat), - copy placed as Attachment S7 • Maxopp Investment Ltd v CIT (2018) 402 ITR 640 (SC) (para 41 ), - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT (2017) 394 ITR 449 (SC) (para 38), - copy placed as Attachment S9 • CIT v HDFC Bank Ltd (2014) 366 ITR 505 (Bom), - copy placed as Attachment S10 F. Paper Book references AY 2013-14 ITA 102/RPR/2017 (Assessee’s appeal) Page 19 Balance sheet showing ‘Reserves and Surplus” Page 36 Investment in Mutual Funds, Note-14 AY 2013-14 ITA 103/RPR/2017 (Assessee’s appeal) Pa…

Dy. C.I.T.2(1), Bilaspur(Cg) vs. M/S Secl, Bilaspur(Cg)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 382/BIL/2014[2010-11]Status: DisposedITAT Raipur30 Oct 2023AY 2010-11

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…t S6 • CIT v Gujarat Apollo Industries Ltd (2015) 55 taxmann.com 158 (Gujarat), - copy placed as Attachment S7 • Maxopp Investment Ltd v CIT (2018) 402 ITR 640 (SC) (para 41 ), - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT (2017) 394 ITR 449 (SC) (para 38), - copy placed as Attachment S9 • CIT v HDFC Bank Ltd (2014) 366 ITR 505 (Bom), - copy placed as Attachment S10 F. Paper Book references AY 2013-14 ITA 102/RPR/2017 (Assessee’s appeal) Page 19 Balance sheet showing ‘Reserves and Surplus” Page 36 Investment in Mutual Funds, Note-14 AY 2013-14 ITA 103/RPR/2017 (Assessee’s appeal) Pa…

Dy.Commissioner of Income-Tax Circle-1(1), Bilaspur(Cg) vs. South Eastern Coafields Limited, Bilaspur(Cg)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 204/BIL/2012[2009-10]Status: DisposedITAT Raipur30 Oct 2023AY 2009-10

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…t S6 • CIT v Gujarat Apollo Industries Ltd (2015) 55 taxmann.com 158 (Gujarat), - copy placed as Attachment S7 • Maxopp Investment Ltd v CIT (2018) 402 ITR 640 (SC) (para 41 ), - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT (2017) 394 ITR 449 (SC) (para 38), - copy placed as Attachment S9 • CIT v HDFC Bank Ltd (2014) 366 ITR 505 (Bom), - copy placed as Attachment S10 F. Paper Book references AY 2013-14 ITA 102/RPR/2017 (Assessee’s appeal) Page 19 Balance sheet showing ‘Reserves and Surplus” Page 36 Investment in Mutual Funds, Note-14 AY 2013-14 ITA 103/RPR/2017 (Assessee’s appeal) Pa…

South Eastern Coal Fields Ltd, Bilaspur(Cg) vs. JCIT, Range-1, Bilaspur(Cg)

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 201/BIL/2012[2009-10]Status: DisposedITAT Raipur30 Oct 2023AY 2009-10

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…t S6 • CIT v Gujarat Apollo Industries Ltd (2015) 55 taxmann.com 158 (Gujarat), - copy placed as Attachment S7 • Maxopp Investment Ltd v CIT (2018) 402 ITR 640 (SC) (para 41 ), - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT (2017) 394 ITR 449 (SC) (para 38), - copy placed as Attachment S9 • CIT v HDFC Bank Ltd (2014) 366 ITR 505 (Bom), - copy placed as Attachment S10 F. Paper Book references AY 2013-14 ITA 102/RPR/2017 (Assessee’s appeal) Page 19 Balance sheet showing ‘Reserves and Surplus” Page 36 Investment in Mutual Funds, Note-14 AY 2013-14 ITA 103/RPR/2017 (Assessee’s appeal) Pa…

Assistant Commissioner of Income Tax, Circle-(1), Raipur vs. Shri Bajrang Power and Ispat Ltd., Raipur

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 201/RPR/2022[2012-13]Status: PendingITAT Raipur16 Oct 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

For Appellant: Shri Amit M. Jain, AdvFor Respondent: Dr. Simran Bhullar, CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14ASection 80I

…आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI ARUN KHODPIA, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 201/RPR/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/s. Shri Bajrang Power and Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. PAN : AACCB2944D ……""यथ" / Respondent Assessee by : Shri Amit M. Jain, Adv. Revenue by : Dr. Simran Bhullar, CIT-DR सुनवाई क" तार"ख / Date of Hearing : 18.07.2023 घोषणा…

Idbi Bank Ltd., Mumbai vs. ACIT-Ltu(2), Mumbai

In the result, appeal of the revenue is dismissed

ITA 4596/MUM/2019[2016-17]Status: DisposedITAT Mumbai28 Sept 2023AY 2016-17

Bench: Shri Kuldip Singh & Shri Gagan Goyalidbi Bank Ltd. 22Nd Floor, Idbi Tower, Wtc Complex, Cuffe Parade, Mumbai- 400 005. Pan: Aabci8842G ..... Appellant Vs. Acit Ltu (2) World Trade Centre, Cuffe Parade, Mumbai ..... Respondent

For Appellant: NoneFor Respondent: None
Section 115JSection 143(1)Section 143(3)Section 14ASection 250Section 36(1)Section 36(2)Section 40

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER IDBI Bank Ltd. 22nd floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai- 400 005. PAN: AABCI8842G ..... Appellant Vs. ACIT LTU (2) World Trade Centre, Cuffe Parade, Mumbai ..... Respondent & ACIT LTU (2) World Trade Centre, Cuffe Parade, Mumbai ...... Appellant Vs. IDBI Bank Ltd. 22nd floor, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai- 400 005. PAN: AABCI8842G ...... Respondent IDBI Bank Ltd. Appellant by : None Respondent by : None Date of hearing : 27/07/2023…

DCIT Cir 3(1)(1), Mumbai vs. Airmid Developers Ltd, Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 949/MUM/2015[2010-11]Status: DisposedITAT Mumbai30 Aug 2023AY 2010-11

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri K. GopalFor Respondent: Shri Manoj Kumar
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 271(1)(c)Section 92C

…h a satisfaction, the nature of the loan taken by the assessee for purchasing the shares/ making the investment in shares is to be examined by the Assessing Officer.‖ Further, Hon’ble Supreme Court in Godrej & Boyce Manufacturing Company Ltd. Vs DCIT: [2017] 394 ITR 449 (SC), observed as under: ―37. We do not see how in the aforesaid fact situation a different view could have been taken for the Assessment Year 2002-2003. Sub-sections (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules merely prescribe a formula for determination of expenditure incurred in relation to income which does not form…

Airmid Developers Ltd, New Delhi vs. DCIT Cir 3(1)(1), Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 1011/MUM/2015[2010-11]Status: DisposedITAT Mumbai30 Aug 2023AY 2010-11

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri K. GopalFor Respondent: Shri Manoj Kumar
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 271(1)(c)Section 92C

…h a satisfaction, the nature of the loan taken by the assessee for purchasing the shares/ making the investment in shares is to be examined by the Assessing Officer.‖ Further, Hon’ble Supreme Court in Godrej & Boyce Manufacturing Company Ltd. Vs DCIT: [2017] 394 ITR 449 (SC), observed as under: ―37. We do not see how in the aforesaid fact situation a different view could have been taken for the Assessment Year 2002-2003. Sub-sections (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules merely prescribe a formula for determination of expenditure incurred in relation to income which does not form…

DCIT Cir 3(1)(1), Mumbai vs. Airmid Developers Ltd, Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 7081/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Aug 2023AY 2009-10

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri K. GopalFor Respondent: Shri Manoj Kumar
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 271(1)(c)Section 92C

…h a satisfaction, the nature of the loan taken by the assessee for purchasing the shares/ making the investment in shares is to be examined by the Assessing Officer.‖ Further, Hon’ble Supreme Court in Godrej & Boyce Manufacturing Company Ltd. Vs DCIT: [2017] 394 ITR 449 (SC), observed as under: ―37. We do not see how in the aforesaid fact situation a different view could have been taken for the Assessment Year 2002-2003. Sub-sections (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules merely prescribe a formula for determination of expenditure incurred in relation to income which does not form…

Airmid Developers Ltd, New Delhi vs. DCIT Cir 3(1), Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 6758/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Aug 2023AY 2009-10

Bench: Shri Prashant Maharishi & Shri Sandeep Singh Karhail

For Appellant: Shri K. GopalFor Respondent: Shri Manoj Kumar
Section 143(3)Section 144C(13)Section 144C(5)Section 14ASection 271(1)(c)Section 92C

…h a satisfaction, the nature of the loan taken by the assessee for purchasing the shares/ making the investment in shares is to be examined by the Assessing Officer.‖ Further, Hon’ble Supreme Court in Godrej & Boyce Manufacturing Company Ltd. Vs DCIT: [2017] 394 ITR 449 (SC), observed as under: ―37. We do not see how in the aforesaid fact situation a different view could have been taken for the Assessment Year 2002-2003. Sub-sections (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules merely prescribe a formula for determination of expenditure incurred in relation to income which does not form…

Career Point Limited, Kota, Rajasthan vs. Principal Commissioner of Income Tax, Udaipur, Rajasthan

In the result, the appeal of the assessee is allowed

ITA 242/JPR/2023[2018-19]Status: DisposedITAT Jaipur22 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Goyal, CA &For Respondent: Shri Ajey Malik (CIT)
Section 143(2)Section 143(3)Section 14ASection 263

…ure. To put it differently, such expenditure would then be considered as incurred in respect of other income which is to be treated as part of the total income.” (ii) GODREJ & BOYCE MANUFACTURING COMPANY LIMITED V. DY. COMMISSIONER OF INCOME-TAX & ANR. [2017] 394 ITR 449 Here the assessee had access to adequate interest free funds to make investments and the issue pertained to disallowance of expenditure incurred to earn dividend income, which was not forming part of total income of the Assessee. Justice Ranjan Gogoi writing the opinion on behalf of the Division Bench observed that for disallowance of expenditure…

Sicpa India P.Ltd, New Delhi vs. ACIT, Circle-23(2), New Delhi

In the result, the Ground No

ITA 9604/DEL/2019[2008-09]Status: DisposedITAT Delhi18 Aug 2023AY 2008-09

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 115JSection 143(3)Section 14ASection 80Section 80GSection 80I

…ssessee's books of account satisfactorily and proceeded to invoke the provisions contained w's 14A of the Act the Rule 8D of the Rules" Page 7 of 13 SICPA India Pvt. Ltd. vs. ACIT 23. Hon'ble Apex Court in Godrej & Boyce Manufacturing Company Ltd. vs. DCIT-394 ITR 449 (SC) thrashed the issue in controversy as to invoking of the provisions contained under Rule 8D of the Rules by observing as under:- "37. We do not see how in the aforesaid fact situation a different view could have been taken for the Assessment Year 2002-2003. Sub-sections (2) and (3) of Section 14A of the Act read with Rule 8D of the Rules mere…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

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

ITA 1467/MUM/2023[2015-16]Status: DisposedITAT Mumbai17 Aug 2023AY 2015-16

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI G.S. PANNU, PRESIDENT, AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.1462/Mum./2023 ITA no.1464/Mum./2023 (Assessment Year : 2012–13) (Assessment Year : 2013–14) ITA no.1466/Mum./2023 ITA no.1467/Mum./2023 (Assessment Year : 2014–15) (Assessment Year : 2015–16) Pratik Technologies Pvt. Ltd. 250, 15th Floor, Planet Godrej Electra Tower–3, 30, K.K. Marg ……………. Appellant Mahalaxmi, Mumbai 400 011 PAN – AADCP8419N v/s Dy. Commissioner of Income Tax …………….Respondent Central Circle–8(2), Mumbai Assessee by : Shri Vimal Punamiya Revenue by : S…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

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

ITA 1464/MUM/2023[2013-14]Status: DisposedITAT Mumbai17 Aug 2023AY 2013-14

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI G.S. PANNU, PRESIDENT, AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.1462/Mum./2023 ITA no.1464/Mum./2023 (Assessment Year : 2012–13) (Assessment Year : 2013–14) ITA no.1466/Mum./2023 ITA no.1467/Mum./2023 (Assessment Year : 2014–15) (Assessment Year : 2015–16) Pratik Technologies Pvt. Ltd. 250, 15th Floor, Planet Godrej Electra Tower–3, 30, K.K. Marg ……………. Appellant Mahalaxmi, Mumbai 400 011 PAN – AADCP8419N v/s Dy. Commissioner of Income Tax …………….Respondent Central Circle–8(2), Mumbai Assessee by : Shri Vimal Punamiya Revenue by : S…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

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

ITA 1462/MUM/2023[2012-13]Status: DisposedITAT Mumbai17 Aug 2023AY 2012-13

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI G.S. PANNU, PRESIDENT, AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.1462/Mum./2023 ITA no.1464/Mum./2023 (Assessment Year : 2012–13) (Assessment Year : 2013–14) ITA no.1466/Mum./2023 ITA no.1467/Mum./2023 (Assessment Year : 2014–15) (Assessment Year : 2015–16) Pratik Technologies Pvt. Ltd. 250, 15th Floor, Planet Godrej Electra Tower–3, 30, K.K. Marg ……………. Appellant Mahalaxmi, Mumbai 400 011 PAN – AADCP8419N v/s Dy. Commissioner of Income Tax …………….Respondent Central Circle–8(2), Mumbai Assessee by : Shri Vimal Punamiya Revenue by : S…

Linear Dealers Pvt. Ltd, Kolkata vs. ITO, Ward-6(2), Kol, Kolkata

In the result, appeal of the assessee is allowed

ITA 529/KOL/2023[2014-15]Status: DisposedITAT Kolkata24 Jul 2023AY 2014-15

Bench: Dr. Manish Borad, Hon’Ble

For Appellant: NoneFor Respondent: Shri Braj Kishore Singh, JCIT, CIT D/R
Section 147Section 14ASection 154Section 250

…and without proper satisfaction, has resorted to Rule 8D of the Income Tax Rules, 1962. Reliance was placed on plethora of judgments including the judgment of the Hon’ble Apex Court in the case of Godrej & Boyce Manufacturing Co. Ltd. v. Dy. CIT & Anr. (2017) 394 ITR 449 (SC) and also decision of this Tribunal in the case of DCIT vs. Ashish Jhunjhunwala in ITA No. 1809/Kol/2012; Assessment Year 2009- 10. 4. On the other hand, the ld. D/R vehemently argued supporting the orders of the lower authorities. 5. We have heard the rival contentions and perused the material available on record. The issue before us relates…

M/S Vishal Diamonds Pvt Ltd, Mumbai vs. Income Tax Officer-5(3)(1), Mumbai

In the result, appeal filed by the assessee is dismissed

ITA 2790/MUM/2022[2018-2019]Status: DisposedITAT Mumbai12 Jul 2023AY 2018-2019

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon’Blem/S. Vishal Diamonds Pvt. Ltd., Vs. Income Tax Officer – 5(3)(1) Mumbai 11Th Floor, The Plaza Hughes Road, 55 Gamdevi, Mumbai - 400007 Pan: Aaacv2799Q (Appellant) (Respondent)

Section 10Section 14Section 143(2)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER & MS KAVITHA RAJAGOPAL, HON’BLE JUDICIAL MEMBER M/s. Vishal Diamonds Pvt. Ltd., vs. Income Tax Officer – 5(3)(1) Mumbai 11th Floor, The Plaza Hughes Road, 55 Gamdevi, Mumbai - 400007 PAN: AAACV2799Q (Appellant) (Respondent) Assessee Represented by : Shri Hariom Tulsiyan Department Represented by : Vranda U. Matkari Date of Conclusion of Hearing : 18.04.2023 Date of Pronouncement : 12.07.2023 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by the assessee against order of Learned C…

Khimjee Group, Kolkata vs. ACIT, Cir-40, Kol, Kolkata

In the result, the appeal of the assessee is dismissed

ITA 434/KOL/2023[2016-17]Status: DisposedITAT Kolkata11 Jul 2023AY 2016-17

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 143(2)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘A’, KOLKATA [Before Dr. Manish Borad, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 434/Kol/2023 Assessment Year : 2016-17 Khimjee Group Vs. ACIT, Circle-40, Kolkata PAN: AANFK 7268 H Appellant Respondent Date of Hearing 19.06.2023 Date of Pronouncement 11.07.2023 For the Assessee Shri P.J. Bhide, FCA For the Revenue Shri Vijay Kumar, Addl. CIT, Sr. DR ORDER Per Sonjoy Sarma, JM: The present appeal has been preferred by the assessee against the order dated 07.03.2023 of the National Faceless Appeal Centre [hereinafter referred to as ‘CI…

Dcdc Health Services Private Limited, New Delhi vs. ACIT, Circle-7(1), New Delhi

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

ITA 9525/DEL/2019[2016-17]Status: DisposedITAT Delhi10 Jul 2023AY 2016-17
Section 143(3)Section 14ASection 41

…Rules deserves to be not sustainable for the year under consideration. The above view of ours has been fortified by the following judicial pronouncements:- Page 6 of 10 DCDC Health Services Private Limited vs. ITO • “Godrej & Boyce Mfg. Co. Ltd. reported in 394 ITR 449 (SC) • CIT Vs. Reliance Industries Ltd. reported in 410 ITR 466 (SC) • PCIT Vs. Sintex Industries Ltd. reported in 403 ITR 418 (Guj) Revenue's SLP was dismissed [255 Taxman171 (SC) ] • South Indian Bank Ltd Vs CIT. reported in 438 ITR 1 (SC) 130 taxmann.com 178(SC) • CIT VS Suzlon Energy Ltd. reported in 354 ITR 630 (Guj.) • CIT Vs Microlabs Ltd.…