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 367,181 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

Nahar Spinning Mills Ltd., Ludhiana vs. ACIT, C-7, Ludhiana

In the result, the appeal filed by the assessee for the assessment year 2014-

ITA 1160/CHANDI/2019[2014-15]Status: DisposedITAT Chandigarh06 May 2021AY 2014-15

Bench: Shri N.K. Saini & Shri R.L. Negiआयकर अपील सं./Ita Nos. 1160/Chd/2019 "नधा"रण वष" / Assessment Year : 2014-15

For Appellant: Shri Navdeep Sharma, Advocate
Section 10(34)Section 143(3)Section 14ASection 36(1)(iii)

…have been computed after excluding interest on working capital and termed loans. To substantiate his contention, the ld. Counsel relied on the judgments of the Hon'ble Supreme Court in the case of in the case of Godrej & Boyce Manufacturing Co Ltd. Vs. DCIT 394 ITR 449 (SC), judgment of the Hon’ble High Court of Punjab and Haryana in the case of CIT vs. Max India Ltd. 388 ITR 81 (Pb. & Haryana.) decisions of the Mumbai Benches of the Tribunal in the case of Bennett Coleman & Co Ltd. Vs. Addl. CIT 168 ITD 631 (Mum) and High Tech Engg. Vs. ITO 164 ITD 94 (Mum.) and the decision of the Chandigarh Bench of the Tr…

DCIT, Circle-10(1), Kolkata vs. M/S Indian Oil Petronas (P) Ltd., Kolkata

In the result, the Cross Objections of the assessee are allowed for statistical purposes

ITA 1885/KOL/2019[2014-15]Status: DisposedITAT Kolkata30 Apr 2021AY 2014-15

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250Section 32(1)(iiia)Section 80

…s that as per section 4 of the Act, the said income should be chargeable to tax in the hands of the person earning such income. 8.9. We now consider whether the earlier ruling of Hon’ble Supreme Court in the case of Godrej & Boyce Manufacturing Co reported in 394 ITR 449 (SC) runs counter to the later ruling in the case of Tata Tea Limited (supra). The two rulings do not convey contrary or contradictory principles in the context of the issue on hand, as discussed herein below: i) In the case of Godrej & Boyce, a point was made by the taxpayer, being recipient of dividend income, that since dividend suffered DDT i…

D.C.I.T., Circle-10(1), Kolkata vs. M/S Indian Oil Petronas Pvt. Ltd., Kolkata

In the result, the Cross Objections of the assessee are allowed for statistical purposes

ITA 1884/KOL/2019[2013-14]Status: DisposedITAT Kolkata30 Apr 2021AY 2013-14

Bench: Sri J. Sudhakar Reddy & Sri Aby T. Varkey)

Section 250Section 32(1)(iiia)Section 80

…s that as per section 4 of the Act, the said income should be chargeable to tax in the hands of the person earning such income. 8.9. We now consider whether the earlier ruling of Hon’ble Supreme Court in the case of Godrej & Boyce Manufacturing Co reported in 394 ITR 449 (SC) runs counter to the later ruling in the case of Tata Tea Limited (supra). The two rulings do not convey contrary or contradictory principles in the context of the issue on hand, as discussed herein below: i) In the case of Godrej & Boyce, a point was made by the taxpayer, being recipient of dividend income, that since dividend suffered DDT i…

Greatship (India) Ltd, Mumbai vs. DCIT 5(1)(1), Mumbai

In the result, appeal is partly allowed

ITA 901/MUM/2015[2010-11]Status: DisposedITAT Mumbai22 Apr 2021AY 2010-11

Bench: Shri Saktijit Dey () & Shri Manoj Kumar Aggarwal ()

Section 143(3)

…ubmitted, the disallowance made by the assessing officer should be deleted. In support of such contention, the learned Counsel relied upon the following decisions:- 1. Maxxop Investments (I) Pvt Ltd vs CIT 402 ITR 640 (SC) 2. Godrej & Boyce Mfg Co Ltd vs DCIT 394 ITR 449 (SC) 3. PCIT vs Reliance Capital Asset Management Ltd 400 ITR 212 (Bom) 4. PCIT vs Bombay Stock Exchange Ltd 113 taxmann.com 303 (Bom) 26. The learned Departmental Representative submitted, the assessing officer having recorded proper satisfaction while invoking section 14A r.w.r. 8D(2), I.T.A. No.901/Mum/2015 14 assessee’s claim cannot be acce…

Itd Cementation India Ltd., Mumbai vs. DCIT- 14(2)(1), Mumbai

In the result, appeal of the assessee in ITA

ITA 5869/MUM/2018[2014-15]Status: DisposedITAT Mumbai21 Apr 2021AY 2014-15

Bench: Us For Which Necessary Endorsement Was Made By Him In Our Files. Accordingly, The Ground No.4 Is Dismissed As Not Pressed For Both The Years.

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI RAVISH SOOD, JUDICIAL MEMBER ITA No.5869/Mum/2018 & 5870/Mum/2018 (Assessment Year :2014-15 & 2015-16) M/s. ITD Cementation India Vs. DCIT-14(2)(1) Ltd., Mumbai National Plastic Building A-Subhash Road, Paranjape B Scheme, Vile Parle (E) Mumbai -400057 PAN/GIR No. AAACT1426A (Appellant) .. (Respondent) Assessee by Shri Anuj Kisnadwala Revenue by Ms. Shreekala Pardeshi Date of Hearing 24/02/2021 Date of Pronouncement 21/04/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): These appeals in ITA Nos.5869/M…

Hero Motocrop Ltd., New Delhi vs. ACIT, Circle- 11(1), New Delhi

The appeal of the assessee is partly allowed

ITA 9187/DEL/2019[2015-16]Status: DisposedITAT Delhi13 Apr 2021AY 2015-16

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2015-16

Section 115JSection 143(3)Section 144CSection 145ASection 80ISection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘I-1’ NEW DELHI (Through Video Conferencing) BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER & SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2015-16 Hero Motocorp Ltd. Vs. ACIT 34, Community Centre, Circle-11(1) Basant Lok, Vasant Vihar, New Delhi. New Delhi. PAN - AAACH0812J Assessee by Shri Ajay Vohra, Sr. Adv. Shri Gaurav Jain, Adv. Ms. Monisha Sharma, Adv. Revenue by Shri Surenderpal, CIT DR Date of Hearing 15.01.2021 Date of Pronouncement 13.04.2021 ORDER PER SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER: This appeal is filed against the assessment orde…

DCIT, New Delhi vs. M/S. Hero Honda Motors Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6302/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER & SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2005-06 Hero Motocorp Ltd. vs Addl. CIT 34, Community Centre, Range-12, Basant Lok, Vasant Vihar, New Delhi. New Delhi. PAN No. AAACH0812J & Assessment Year: 2005-06 DCIT vs Hero Honda Motors Ltd. Circle 11(1) 34, Community Centre, New Delhi. Basant Lok, Vasant Vihar, New Delhi. PAN No. AAACH0812J Assessee by Shri Gaurav Jain, Adv. Ms. Monisha Sharma, Adv. Revenue by Shri Surenderpal, CIT DR Date of Hearing 15.01.2021 Date of Pronouncement 1…

M/S. Hero Motocorp Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 6282/DEL/2015[2005-06]Status: DisposedITAT Delhi13 Apr 2021AY 2005-06

Bench: Shri Sudhanshu Srivastava & Shri O.P. Kantassessment Year: 2005-06

Section 14ASection 32(1)(iia)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘I-1’ NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER & SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2005-06 Hero Motocorp Ltd. vs Addl. CIT 34, Community Centre, Range-12, Basant Lok, Vasant Vihar, New Delhi. New Delhi. PAN No. AAACH0812J & Assessment Year: 2005-06 DCIT vs Hero Honda Motors Ltd. Circle 11(1) 34, Community Centre, New Delhi. Basant Lok, Vasant Vihar, New Delhi. PAN No. AAACH0812J Assessee by Shri Gaurav Jain, Adv. Ms. Monisha Sharma, Adv. Revenue by Shri Surenderpal, CIT DR Date of Hearing 15.01.2021 Date of Pronouncement 1…

Greatship (India ) Ltd, Mumbai vs. DCIT 5(1)(1), Mumbai

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 1287/MUM/2017[2012-13]Status: DisposedITAT Mumbai05 Apr 2021AY 2012-13

Bench: Shri S.Rifaur Rahman () & Shri Ravish Sood () Ita No.6083/Mum/2018 (Assessment Years: 2012-13 & 2014-15) Greatship (India) Ltd., Dy. Commissioner Of Income- C/O. Kalyaniwalla & Mistry, Vs. Tax-5(1)(1), Army & Navy Building, 3Rd Floor, Room No. 568, 5Th Floor, 148, Mahatma Gandhi Road, Aayakar Bhavan, M.K. Road, Fort, Mumbai – 400 001 Mumbai – 400 020

For Appellant: Shri M.M. Golvala &For Respondent: Shri Anand Mohan &
Section 143(3)Section 92BSection 92C

…atisfaction dislodged the suo-motto disallowance that was offered by the assessee in its return of income. It was submitted by the ld. A.R that as held by the Hon’ble Supreme Court in the case of Godrej & Boyce Manufacturing Company Ltd. Vs. DCIT & Anr (2017) 394 ITR 449 (SC) and Maxopp Investment Ltd. Vs. CIT (2018) 402 ITR 640 (SC), the A.O before dislodging the suo-moto disallowance worked out by the assessee under Sec. 14A of the Act therein remained under a statutory obligation to record his satisfaction that having regard to the accounts of the assessee as placed before him, it was not possible to generate…

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5232/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5231/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5230/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4904/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4903/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4902/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

…t monitoring or analysis of investment portfolio unlike equity oriented funds. The ld. AR relied on various case laws as mentioned below:  CIT Vs Walfort Share & Stock Brokers (P) Ltd. (2010) 326 ITR 1 (SC)  Godrej & Boyce Manufacturing Company Ltd. (2017) 394 ITR 449 (SC)  HT Media Ltd. Vs Pr. CIT (2017) 85 taxmann.com 113 (Del.)  CIT Om Prakash Khaitan (2015) 376 ITR 390 (Del.)  ACIT Vs Eicher Ltd. (2007) 101 TTJ 369 (Del.)  Maruti Udgyog Ltd. Vs DCIT (2005) 92 ITD 119 (Del.)  CIT Vs Hero Cycles (2010) 323 ITR 518 (P&H)  DCIT Vs Nestle India Ltd. in ITA No. 2020/Del/2014 39. The ld. AR further argued…

Manu Enterptises Ltd., Mumbai vs. ITO - 3(2)(2), Mumbai

In the result, appeal by assessee is allowed

ITA 4568/MUM/2019[2012-13]Status: DisposedITAT Mumbai08 Mar 2021AY 2012-13

Bench: Vikas Awasthy & Shri N.K.Pradhanआअसं. 4568/मुं/2019 ("न.व. 2012-13) Manu Enterprises Limited, 1St Floor, Sidhwas House, N.A.Sawant Marg, Colaba, Mumbai 400 005 Pan: Aaacm4979M ...... अपीलाथ" /Appellant बनाम Vs. The Income Tax Officer-3(2)(2), Room No.673/664, 6Th Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent

For Appellant: Ms. Kanjal BhutaFor Respondent: Shri Sanjay J. Sethi
Section 14ASection 14A(2)

…f reasons by the Assessing Officer in the event that he comes to the conclusion that he is not satisfied with the claim of the assessee;” 5 आअसं. 4568/मुं/2019 ("न.व. 2012-13) The Hon'ble Supreme Court of India in the case of Godrej and Boyce Mfg Co. Ltd., 394 ITR 449 affirming the view of Hon'ble Bombay High Court held: “ 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…

Exlservice.Com(India) Private Limited, New Delhi vs. ACIT, Ltu, Circle-1, New Delhi

In the result, all the appeals of the assessee in ITA Nos

ITA 8452/DEL/2019[2015-16]Status: DisposedITAT Delhi08 Mar 2021AY 2015-16

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surender Pal, CIT-DR
Section 143(3)

…m is reinvested. The ld. counsel for the assessee vehemently stated that no satisfaction was recorded by the Assessing Officer having regard to the accounts of the assessee which is mandatory as held by the Hon'ble Supreme Court in the case of Godrej Boyce 394 ITR 449 and Maxopp Investment 402 ITR 640. 26. The ld. counsel for the assessee referred to the order of the Tribunal in A.Y 2011-12 in ITA No. 1482 and 1708/2016 order dated 26.08.2020 and stated that such disallowance was deleted by the Tribunal as no satisfaction was recorded by the Assessing Officer with respect to the examination of books of accoun…

Exlservices.Com (India) Pvt. Ltd., New Delhi vs. DCIT, Ltu, Circle- 1, New Delhi

In the result, all the appeals of the assessee in ITA Nos

ITA 5436/DEL/2017[2013-14]Status: DisposedITAT Delhi08 Mar 2021AY 2013-14

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surender Pal, CIT-DR
Section 143(3)

…m is reinvested. The ld. counsel for the assessee vehemently stated that no satisfaction was recorded by the Assessing Officer having regard to the accounts of the assessee which is mandatory as held by the Hon'ble Supreme Court in the case of Godrej Boyce 394 ITR 449 and Maxopp Investment 402 ITR 640. 26. The ld. counsel for the assessee referred to the order of the Tribunal in A.Y 2011-12 in ITA No. 1482 and 1708/2016 order dated 26.08.2020 and stated that such disallowance was deleted by the Tribunal as no satisfaction was recorded by the Assessing Officer with respect to the examination of books of accoun…

Exlservice.Com (India) P.Ltd, New Delhi vs. DCIT Ltu, Circle-1, New Delhi

In the result, all the appeals of the assessee in ITA Nos

ITA 5435/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Mar 2021AY 2012-13

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Surender Pal, CIT-DR
Section 143(3)

…m is reinvested. The ld. counsel for the assessee vehemently stated that no satisfaction was recorded by the Assessing Officer having regard to the accounts of the assessee which is mandatory as held by the Hon'ble Supreme Court in the case of Godrej Boyce 394 ITR 449 and Maxopp Investment 402 ITR 640. 26. The ld. counsel for the assessee referred to the order of the Tribunal in A.Y 2011-12 in ITA No. 1482 and 1708/2016 order dated 26.08.2020 and stated that such disallowance was deleted by the Tribunal as no satisfaction was recorded by the Assessing Officer with respect to the examination of books of accoun…

M/S Haryana State Industrial & Infrastructure Development Corpn., Panchkula vs. ACIT, Panchkula

In the result, all the above appeals of the assessee are

ITA 275/CHANDI/2020[2006-07]Status: DisposedITAT Chandigarh04 Mar 2021AY 2006-07

Bench: The Itat. That In The First Round The Itat Had Held The Provisions Of Section 14A Of The Act, For The Purposes Of Disallowing Expenses Relating To Exempt Income, Applicable In The Facts Of The Present Cases On Noting That The Assessee Had Earned Exempt Income In The Form

For Appellant: Shri A.K. Jindal, CAFor Respondent: Smt.Meenakshi Vohra, Addl.CIT
Section 14ASection 250(6)

…the exempt income. For this reliance is being placed on the following judicial pronouncements:- ITA Nos.275 to 279/Chd/2020 A.Ys. 2006-07 to 2010-11 Page 11 of 20 In the decision in the case of Godrej & Boyce Manufacturing Co. Ltd. v. Dy.CIT & Anr. (2017) 394 ITR 449 (SC) (para 36)….. Again in the judgment of Maxopp Investment Ltd. V. Commissioner of Income Tax (2018) 402 ITR 640 (SC) vide para 32………… In view of the above, the first condition to apply provisions of sec 14A of the Act is that the assessee must have incurred expenditure which can be said to be related to exempt income is not being fulfilled. Se…