M/S. METROCHEM INDUSTRIES LIMITED,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-4,, AHMEDABAD
In the result, the appeals of Revenue and appeals/cross objection of the assessee allowed/ dismissed as under:
ITA 2594/AHD/2008[1998-1999]Status: DisposedITAT Mumbai31 Mar 2022AY 1998-1999
Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1998-1999 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income 505-506, While House, Panchwati, Vs. Tax, Circle-4, Ahmedabad-380 006. 112, 1St Floor, Avjivan Trust Bldg. Ashram Road, Ahmedabad-14. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 Metrochem Industries Ltd., The Income Tax Officer Ward 4(2), 505/506, Suryarath, Nr. Vs. Ahmedabad. Panchvati Ellisbridge, Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2001-02 The Acit, Cir-4, Ahmedabad, Metrochem Industries Ltd., Navjivan Trust Bldg. Off. Ashram Vs. 505/506, Suryarath, Nr. Panchvati Road, Ellisbridge, Ahmedabad. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent M/S Metrochem Industries Ltd., Assessment Year: 2003-04 M/S Metrochem Industries Ltd., Dy. Commissioner Of Income Tax, 505-506, Surya Rath, Nr. Vs. Circle-4, Panchwati, Ellisbridge, Ahmedabad. Ahmedabad-380 006. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2003-04 Dy. Commissioner Of Income Tax, M/S Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath, Nr. Navjivan Trust Bldg. Off. Ashram Panchwati, Ellisbridge, Road, Ahmedabad-380 006. Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Assessment Year: 2004-05 Dy. Commissioner Of Income Tax Metrochem Industries Ltd., Circle-4, Vs. 505-506, Surya Rath Building, B/H, Navjeevan Building Ashram Road, White House, Panchwati, Ahmedabad. Ambawati, Ahmedabad. Pan No. Aabcm 8019 K Appellant Respondent Co No. 50/Ahd/2008 (Ita No. 87/Ahd/2008) Assessment Year: 2004-05 Metrochem Industries Ltd., Dy. Commissioner Of Income Tax 505-506, Surya Rath Building, Vs. Circle-4, B/H, White House, Panchwati Navjeevan Building Ashram Road, Ellisbridge, Ahmedabad. Ahmedabad-06 Pan No. Aabcm 8019 K
Section 115JSection 244ASection 245Section 80H
…ies Ltd., the dividend income ws.14A of the Act. In support of the disallowance the reliance is made on the following decisions :- (1) Everplus Securities& Finance Ltd. - 101 ITD 151/285 ITR(AT) 112 (Delhi) (2) Rhythm Exports (P) Ltd. vs. CIT -2 SOT (Mum)429 /97 TTJ 493 (Mum) (3) Harish Krishnakant Bhatt vs. ITO - 278 ITR(AD)1 (Ahd) (4) Mumbai Bench in the case of ACIT vs. Citi corp Finance India Ltd., reported in 111 TTJ 82 (Mum) wherein it has been held that it is not correct to say that dividend income can be earned by incurring no or nominal expenses and all expenses connected with such exempt income have to…
