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 366,470 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

ACIT Circle 1, Trichy vs. Dalmia Cement Bharat Ltd., Dalmiapuram

ITA 3157/CHNY/2017[2013-14]Status: DisposedITAT Chennai31 Dec 2025AY 2013-14

Bench: Ms. Madhumita Roy & Shri Amitabh Shukla, Accountnat Member [Assessment Year: 2013-14] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue Cross Objection No.63/Chny/2018 (Arising Out Of Ita No.3157/Chny2017) [Assessment Year: 2013-14] M/S Dalmia Cement Bharat Ltd. The Assistant Commissioner Of Dalmiapuram, Income Tax, Circle-1, Tamilnadu-621651 Vs Williams Road, Cantonment, Trichy, Tamil Nadu-620001 Pan- Aadca9414C Assessee Revenue [Assessment Year: 2014-15] The Assistant Commissioner Of M/S Dalmia Cement Bharat Ltd. Income Tax, Circle-1, Dalmiapuram, Williams Road, Vs Tamilnadu, 621651 Cantonment, Trichy, Tamil Nadu-620001 Pan-Aadca9414C Assessee Revenue

Section 14ASection 32(1)(iia)

…17/Del/2017 along with other cases Officer would make any disallowance untenable in the eyes of law. We have noted from the impugned assessment order that recording of any such satisfaction is missing. In the case of Godrez & Boyce Manufacturing Company Ltd. 394 ITR 449, Hon’ble Apex Court has held it is imperative for the AO to establish that based upon the accounts of the assessee, the disallowance made under section 14A by it is unacceptable. The impugned principle has been followed by this Tribunal in its decision in the case of Hindustan Times Ltd. Vide ITA No.1629/Del/2012 dated 31.01.2024. Accordingly, th…

Apar Corporation Pvt Ltd, Mumbai vs. DCIT CC6(1), Mumbai

In the result, the appeal filed by the assessee stands allowed

ITA 5232/MUM/2025[2017-18]Status: DisposedITAT Mumbai16 Dec 2025AY 2017-18

Bench: Hon’Ble Shri Sandeep Gosain& Shri Prabhash Shankarapar Corporation Pvt. Ltd. Vs. Dcit Cc 6(1), Mumbai Apar House, Corporate Park, 19Th Floor, Building No.5, Air India Building, Sion Trombay Road, Mumbai - 400021 Chembur, Mumbai – 400071. Pan/Gir No. Aabca1405B (Applicant) (Respondent)

Section 10Section 139(1)Section 143(3)Section 14ASection 250Section 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER& SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Apar Corporation Pvt. Ltd. Vs. DCIT CC 6(1), Mumbai Apar House, Corporate Park, 19th Floor, Building No.5, Air India Building, Sion Trombay Road, Mumbai - 400021 Chembur, Mumbai – 400071. PAN/GIR No. AABCA1405B (Applicant) (Respondent) Assessee by Shri Malav Sheth Revenue by Shri Surendra Mohan Date of Hearing 09.12.2025 Date of Pronouncement 16.12.2025 आदेश / ORDER PER SANDEEP GOSAIN, JM: The present appeal has been filed by the assessee challenging the impugned…

The Pr. Commissioner of Income Tax -Central -1 vs. R.J. Corp. Ltd

The appeal of the assessee is allowed

ITA/743/2025HC Delhi12 Dec 2025

Bench: HON'BLE MR. JUSTICE V. KAMESWAR RAO,HON'BLE MR. JUSTICE VINOD KUMAR

Section 14Section 14A

…ITA 743/2025 Page 1 of 18 $~23 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 12.12.2025 + ITA 743/2025 CM APPL. 78546/2025 THE PR. COMMISSIONER OF INCOME TAX -CENTRAL -1 .....Appellant Through: Mr. Ruchir Bhatia SSC with Mr. Anant Mann JSC. versus R.J. CORP. LTD. .....Respondent Through: Mr. Divyansh Jain, Mr. Paritosh Jain, Mr. Apoorv Saini and Mr. Abhishek, Advs. CORAM: HON'BLE MR. JUSTICE V. KAMESWAR RAO HON'BLE MR. JUSTICE VINOD KUMAR V. KAMESWAR RAO…

Sanjay Kothari (HUF), Mumbai vs. DCIT, Circle 19(3), Mumbai

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

ITA 760/MUM/2025[2018-19]Status: DisposedITAT Mumbai17 Nov 2025AY 2018-19

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailsanjay Kothari (Huf), 1404, 14Th Floor, A Wing, Naman Midtown, Senapati Bapat Marg, Elphistone West, ............... Appellant Mumbai – 400013 Pan: Aajhs9132A V/S National Faceless Assessment Centre, ……………… Respondent Delhi

For Appellant: Ms. Shivani ShahFor Respondent: Shri Leyaqat Ali Aafaqui, Sr. AR
Section 10(34)Section 10(38)Section 142(1)Section 143(2)Section 143(3)Section 144BSection 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Sanjay Kothari (HUF), 1404, 14th Floor, A Wing, Naman MidTown, Senapati Bapat Marg, Elphistone West, ............... Appellant Mumbai – 400013 PAN: AAJHS9132A v/s National Faceless Assessment Centre, ……………… Respondent Delhi Assessee by : Ms. Shivani Shah Revenue by : Shri Leyaqat Ali Aafaqui, Sr. AR Date of Hearing – 04/11/2025 Date of Order - 17/11/2025 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The assessee has filed the present appeal against the impugned order d…

Sicpa India Private Limited, Delhi vs. Assistant Commissioner of Income-Tax, Circle 22(2), Delhi

In the result, the appeal of the assessee is allowed

ITA 330/DEL/2025[2020-21]Status: DisposedITAT Delhi17 Oct 2025AY 2020-21

Bench: Shri Yogesh Kumar U.S. & Shri Manish Agarwal[ Sicpa India Private Limited, Asst. Cit, 308-312, Mercantile House, Circle -22(2), 15 K.G. Marg, Vs. Delhi. Delhi-110001. Pan-Aadcs6121L (Appellant) (Respondent) Assessee By Shri Akash Singhal, Ca Department By Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 22/07/2025 Date Of Pronouncement 17/10/2025 O R D E R Per Manish Agarwal, Am: This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-24, New Delhi [Cit(A), In Short] Dated 28.11.2024 In Appeal No. Nfac/2019-20/10183865 Arising Out Of Order Passed U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred As ‘The Act’) Dated 30.09.2022 For Assessment Year 2020-21. 2. Brief Facts Of The Case Are That Assessee Is A Company Engaged In The Business Of Manufacturing & Distribution Of Security Inks. The Return Of Income For The Year Under Appeal Was E-Filed On 15.02.2021 Declaring Total Income At Rs.6,74,74,000/-. The Case Of The Assessee Was Taken Up For Scrutiny & The Order Was Passed U/S 143(3) On 30.09.2022 Wherein Disallowance Of Rs.23,09,391/- Was Made On Account Of Dividend Distributions Tax & Educational Cess Claimed By The Assessee As Sicpa India Private Limited Vs. Acit Expenses & Further Disallowance U/S 14A Of Rs.25,56,078/- Was Made & The Total Income Of The Assessee Was Assessed At Rs.7,71,05,940/-.

Section 143(3)Section 14ASection 234CSection 270A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’: NEW DELHI BEFORE SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER [ Sicpa India Private Limited, Asst. CIT, 308-312, Mercantile House, Circle -22(2), 15 K.G. Marg, Vs. Delhi. Delhi-110001. PAN-AADCS6121L (Appellant) (Respondent) Assessee by Shri Akash Singhal, CA Department by Shri Rajesh Kumar Dhanesta, Sr. DR Date of Hearing 22/07/2025 Date of Pronouncement 17/10/2025 O R D E R PER MANISH AGARWAL, AM: This appeal is filed by the assessee against the order of Ld. Commissioner of Income Tax (Appeals)-24, New Delhi [CIT(A…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Small Industries Development Bank of India, Mumbai

ITA 3173/MUM/2023[2018-19]Status: DisposedITAT Mumbai10 Oct 2025AY 2018-19

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Tax, Circle-3(3)(1), Room No. 609, Aayakar Bhavan, M.K. Road, Mumbai- 400020. Appellant) Small Industries Development Bank of India, SME Development Centre, Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Small Industries Development Bank of India, Mumbai

ITA 3160/MUM/2023[2017-18]Status: DisposedITAT Mumbai10 Oct 2025AY 2017-18

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Respondent: Shri Arun Kanti Datta, CIT-DR
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Small Industries Development Bank Tax, Circle-3(3)(1), of India, Room No. 609, Aayakar Bhavan, SME Development Centre, M.K. Road, Mumbai- 400020. Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East), Mu…

Small Industries Development Bank of India, Mumbai vs. Deputy Commissioner of Income Tax Circle 3(3)(1), Mumbai

ITA 2971/MUM/2023[2017-18]Status: DisposedITAT Mumbai10 Oct 2025AY 2017-18

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Appellant: Shri Arun Kanti Datta, CIT-DRFor Respondent: Assessee by
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Tax, Circle-3(3)(1), Room No. 609, Aayakar Bhavan, M.K. Road, Mumbai- 400020. Appellant) Small Industries Development Bank of India, SME Development Centre, Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East…

Small Industries Development Bank of India, Mumbai vs. Deputy Commissioner of Income Tax Circle 3(3)(1), Mumbai

ITA 2970/MUM/2023[2018-19]Status: DisposedITAT Mumbai10 Oct 2025AY 2018-19

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Respondent: Shri Arun Kanti Datta, CIT-DR
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Small Industries Development Bank Tax, Circle-3(3)(1), of India, Room No. 609, Aayakar Bhavan, SME Development Centre, M.K. Road, Mumbai- 400020. Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East), Mu…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Small Industries Development Bank of India, Mumbai

ITA 2943/MUM/2023[2014-15]Status: DisposedITAT Mumbai10 Oct 2025AY 2014-15

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Respondent: Shri Arun Kanti Datta, CIT-DR
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Small Industries Development Bank Tax, Circle-3(3)(1), of India, Room No. 609, Aayakar Bhavan, SME Development Centre, M.K. Road, Mumbai- 400020. Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East), Mu…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Small Industries Development Bank of India, Mumbai

ITA 2894/MUM/2023[2015-16]Status: DisposedITAT Mumbai10 Oct 2025AY 2015-16

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Respondent: Shri Arun Kanti Datta, CIT-DR
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) Dy. Commissioner of Income Small Industries Development Bank Tax, Circle-3(3)(1), of India, Room No. 609, Aayakar Bhavan, SME Development Centre, M.K. Road, Mumbai- 400020. Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East), Mu…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Small Industries Development Bank of India, Mumbai

ITA 2893/MUM/2023[2016-17]Status: DisposedITAT Mumbai10 Oct 2025AY 2016-17

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

For Appellant: Shri Arun Kanti Datta, CIT-DR
Section 115JSection 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE JUSTICE (RETD.) C V BHADANG, PRESIDENT & MS PADMAVATHY S, AM I.T.A. No. 2943/Mum/2023 (Assessment Year: 2014-15) I.T.A. No. 2894/Mum/2023 (Assessment Year: 2015-16) I.T.A. No. 2893/Mum/2023 (Assessment Year: 2016-17) I.T.A. No. 3160/Mum/2023 (Assessment Year: 2017-18) I.T.A. No. 3173/Mum/2023 (Assessment Year: 2018-19) | Dy. Commissioner of Income Tax, Circle-3(3)(1), Room No. 609, Aayakar Bhavan, M.K. Road, Mumbai- 400020. | Small Industries Development Bank of India, SME Development Centre, Vs. C-11, G Block, Bandra Kurla Complex, Bandra (East…

Nitu Khadariya, Jaipur vs. ITO Ward 1(3), Ncrb Building

In the result, the appeal of the assessee is allowed

ITA 1360/JPR/2024[2014-15]Status: DisposedITAT Jaipur09 Oct 2025AY 2014-15

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

For Appellant: Shri C.L. Yadav, CAFor Respondent: Shri Gautam Singh Choudhary,JCIT-DR
Section 143(3)Section 144BSection 147Section 69A

…age in the statute is clear, it has to be so interpreted and there is no scope for interpreting the provision on any other basis. The taxing statue should be strictly construed. [Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT [2017] 81 taxmann.com 111/247 Taxman 361/394 ITR 449 (SC). 27. The interpretation as canvassed by the Revenue would render the first proviso to Section 149 of the Act redundant and otiose. The time limit to issue notice under section 148 of the Act had already expired on 1st April 2021 for Assessment Year 2013-2014 and 2014-2015, when Section 149 of the Act was amended. Therefore, reopening for Ass…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…llowed under section 14A where the assessee had surplus funds and there was no finding by the assessing officer of any direct nexus of borrowed funds with investments:  CIT v. Reliance Industries Ltd.: 410 ITR 466 (SC)  Godrej & Boyce Mfg. Co. Ltd. v. DCIT: 394 ITR 449 (SC)  HT Media v. PCIT: 399 ITR 576 (Del.)  CIT vs. Taikisha Engineering India Ltd: 370 ITR 338 (Del) 9. He submitted that no disallowance out of administrative expenditure can be made and relied on the following decisions :-  SIL Investment Ltd. v. ACIT: 148 TTJ 213 (Del. Trib.)  DCIT v. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Asr. Trib.)…

DCIT, New Delhi vs. M/S. Maruti Suzuki India Ltd., New Delhi

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…llowed under section 14A where the assessee had surplus funds and there was no finding by the assessing officer of any direct nexus of borrowed funds with investments:  CIT v. Reliance Industries Ltd.: 410 ITR 466 (SC)  Godrej & Boyce Mfg. Co. Ltd. v. DCIT: 394 ITR 449 (SC)  HT Media v. PCIT: 399 ITR 576 (Del.)  CIT vs. Taikisha Engineering India Ltd: 370 ITR 338 (Del) 9. He submitted that no disallowance out of administrative expenditure can be made and relied on the following decisions :-  SIL Investment Ltd. v. ACIT: 148 TTJ 213 (Del. Trib.)  DCIT v. Jammu and Kashmir Bank Ltd: 152 TTJ 522 (Asr. Trib.)…

JCIT OSD Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2260/MUM/2025[2021-22]Status: DisposedITAT Mumbai06 Oct 2025AY 2021-22

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)
Section 143(3)Section 144Section 14A

…by the Assessing Officer before applying Rule 8D of the Income Tax Rules, the disallowance of expenditure to earn exempt income cannot be sustained. 7.3 This issue is no longer res integra as the hon'ble Apex Court in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT, 394 ITR 449 decided आयकर अपीलीय अधिक IMPARTIAL, EASY AND SPEEDY JUSTICE ME TAX APPELLATE TRIBU 12 Page 12 ITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025 Α.Υ. 2019-20, 2020-21, 2021-22 HDFC Bank Limited, Mumbai the issue in favour of the respondent. In this case, the hon'ble Supreme Court has while considering the issue of disallowing of expenditure incurred…

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2259/MUM/2025[2019-20]Status: DisposedITAT Mumbai06 Oct 2025AY 2019-20

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

Section 143(3)Section 144Section 14A

…by the Assessing Officer before applying Rule 8D of the Income Tax Rules, the disallowance of expenditure to earn exempt income cannot be sustained. 7.3 This issue is no longer res integra as the hon'ble Apex Court in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT, 394 ITR 449 decided आयकर अपीलीय अधिक IMPARTIAL, EASY AND SPEEDY JUSTICE ME TAX APPELLATE TRIBU (Page 12) ITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025 A.Y. 2019-20, 2020-21, 2021-22 HDFC Bank Limited, Mumbai the issue in favour of the respondent. In this case, the hon'ble Supreme Court has while considering the issue of disallowing of expenditure incurred t…

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2258/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Oct 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)
Section 143(3)Section 144Section 14A

…by the Assessing Officer before applying Rule 8D of the Income Tax Rules, the disallowance of expenditure to earn exempt income cannot be sustained. 7.3 This issue is no longer res integra as the hon'ble Apex Court in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT, 394 ITR 449 decided Page 7 ITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025 Α.Υ. 2019-20, 2020-21, 2021-22 HDFC Bank Limited, Mumbai the issue in favour of the respondent. In this case, the hon'ble Supreme Court has while considering the issue of disallowing of expenditure incurred to earn exempt income observed as under: "Whether such determination is to be m…

Hdfc Bank Limited, Mumbai vs. DCIT - 2 (3) (1), Mumbai

In the result, both the above stated appeals of the

ITA 1573/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Oct 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)
Section 143(3)Section 144Section 14A

…by the Assessing Officer before applying Rule 8D of the Income Tax Rules, the disallowance of expenditure to earn exempt income cannot be sustained. 7.3 This issue is no longer res integra as the hon'ble Apex Court in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT, 394 ITR 449 decided Page 12 ITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025 Α.Υ. 2019-20, 2020-21, 2021-22 HDFC Bank Limited, Mumbai the issue in favour of the respondent. In this case, the hon'ble Supreme Court has while considering the issue of disallowing of expenditure incurred to earn exempt income observed as under: "Whether such determination is to…

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax - 2 (3) (1), Mumbai

ITA 1555/MUM/2025[2019-20]Status: DisposedITAT Mumbai06 Oct 2025AY 2019-20

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)
Section 143(3)Section 144Section 14A

…by the Assessing Officer before applying Rule 8D of the Income Tax Rules, the disallowance of expenditure to earn exempt income cannot be sustained. 7.3 This issue is no longer res integra as the hon'ble Apex Court in Godrej & Boyce Mfg. Co. Ltd. v. Dy. CIT, 394 ITR 449 decided आयकर अपीलीय अधिक IMPARTIAL, EASY AND SPEEDY JUSTICE ME TAX APPELLATE TRIBU Page | 12 ITA No. 1555, 1573, 2258, 2259 & 2260 Mum 2025 Α.Υ. 2019-20, 2020-21, 2021-22 HDFC Bank Limited, Mumbai the issue in favour of the respondent. In this case, the hon'ble Supreme Court has while considering the issue of disallowing of expenditure incurred t…