JCIT v. Holland Equipment Co. B.V

3 SOT 810Income Tax Appellate Tribunal2005#3968 most cited

What is JCIT v. Holland Equipment Co. B.V authority for?

The decision in JCIT v. Holland Equipment Co. B.V. is cited for the proposition that it is the duty of the assessee to allocate expenditure to exempt income under Section 14A.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Also referred to as

JCIT v. Holland Equipment Co. B.V. · Rhythm Exports Pvt.Ltd. · section 14A · allocation of expenditure · exempt income · expenditure to exempt income · duty of assessee

Also reported as

97 TTJ 493

Issues it is cited on

section 2(7)section 120(4)(b)section 120(1)section 80hhc(3)section 2(7a)section 163section 115jasection 28(iv)mat creditsection 80hsection 36(2)section 120

Judgments citing JCIT v. Holland Equipment Co. B.V

DCIT vs. M/S Jupiter Capial Pvt. Ltd

In the result, appeal of the Revenue is partly allowed

ITA 1595/BANG/2013[2010-11]Status: DisposedITAT Bangalore13 Dec 2019AY 2010-11

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadaleassessment Year : 2010-11 Dcit, Circle 11(5), M/S. Jupiter Capital (P) Ltd., Bengaluru-560001. No. 54, Richmond Road, Vs. Bengaluru-560025. Pan : Aabcj 5666 R Appellant Respondent Revenue By : Shri. Pradeep Kumar, Jcit (Dr)(Itat), Bengaluru Assessee By : Smt. Pratibha, Advocate Date Of Hearing : 13.11.2019 Date Of Pronouncement : 13.12.2019

For Appellant: Smt. Pratibha, AdvocateFor Respondent: Shri. Pradeep Kumar, JCIT (DR)(ITAT), Bengaluru
Section 14ASection 36(1)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment year : 2010-11 DCIT, Circle 11(5), M/s. Jupiter Capital (P) Ltd., Bengaluru-560001. No. 54, Richmond Road, Vs. Bengaluru-560025. PAN : AABCJ 5666 R APPELLANT RESPONDENT Revenue by : Shri. Pradeep Kumar, JCIT (DR)(ITAT), Bengaluru Assessee by : Smt. Pratibha, Advocate Date of hearing : 13.11.2019 Date of Pronouncement : 13.12.2019 O R D E R Per A. K. Garodia, Accountant Member This appeal is filed by the Revenue and the same is directed against the order o…

M/S Nasa Agro Industries Pvt. Ltd, Fazilka vs. The Asstt. Commissioner of Income Tax, Circle- II, Bathinda

In the result, the appeal i

ITA 537/ASR/2017[2014-15]Status: DisposedITAT Amritsar21 Feb 2019AY 2014-15

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

For Appellant: Sh. P.K. Anand (Ld. CA)For Respondent: Smt. Ratinder Kaur (Ld. DR)
Section 14ASection 250(6)

…low various interest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B.V. [2005] 3 SOT 810 (Mum.) and the relevant portion of the order of the Bombay Bench of the Tribunal is reproduced below:-- 'Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only…

M/S Nasa Agro Industries Pvt. Ltd, Fazilka vs. The Asstt. Commissioner of Income Tax, Circle- II, Bathinda

In the result, the appeal i

ITA 536/ASR/2017[2013-14]Status: DisposedITAT Amritsar21 Feb 2019AY 2013-14

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

For Appellant: Sh. P.K. Anand (Ld. CA)For Respondent: Smt. Ratinder Kaur (Ld. DR)
Section 14ASection 250(6)

…low various interest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B.V. [2005] 3 SOT 810 (Mum.) and the relevant portion of the order of the Bombay Bench of the Tribunal is reproduced below:-- 'Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only…

DCIT 3(2)(2), Mumbai vs. Kail Ltd, Mumbai

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

ITA 5132/MUM/2015[2011-12]Status: DisposedITAT Mumbai07 Mar 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm A.C.I.T-3(2)(2), M/S Kail Limited 171, बिधम/ R. No. 674 6Th Floor, 17Th Floor, C-Wing, Mittal Aayakar Bhavan, M.K. Road, Court Nariman Point, Vs. Mumbai-400 020 Mumbai- 400021 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaack7717L (अऩीराथी /Revenue) (प्रत्मथी / Assessee) :

For Appellant: Shri Mayank Chauhan, A.RFor Respondent: Shri Rajesh Kumar Yadav, D.R
Section 115JSection 143(3)Section 14A

…uring the year under consideration had not been disputed by the revenue before us. We find that the CIT(A) taking support of the orders of coordinate benches of the Tribunal in the case of Joint Commissioner of Income Tax Vs. Holland Equipment Co. B.V. (2005) 3 SOT 810 (Mumbai) and Delite Enterprises(P) Ltd. Vs. Income-tax Officer (2008) 27 CCH 0169 (Mum) did find favour with the contention of the assessee that as it had no exempt income, therefore, no disallowance under Sec. 14A was liable to be made in its hands. We have deliberated on the contentions of the assessee in the backdrop of the facts of the case and…

Applicomp (India) Ltd, Mumbai vs. DCIT RG 3(1), Mumbai

In the result, the appeal of the Assessee is hereby allowed

ITA 3516/MUM/2012[2008-09]Status: DisposedITAT Mumbai09 Feb 2018AY 2008-09

Bench: Shri G.S. Pannu, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.3516/Mum/2012 (निर्धारण वर्ा / Assessment Year: 2008-09) M/S Applicomp (India) Ltd., बिधम/ Dcit Range-3(1), 171-C, Mittal Court, Mumbai Vs. Nariman Point, Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aacca9547R (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent)

For Appellant: Shri Mayank Chauhan (AR)For Respondent: Shri Rajesh Kumar Yadav (DR)
Section 115JSection 142(1)Section 143(2)Section 14ASection 14A(2)

…sessee has also placed reliance upon the law settled in the case of CIT Vs. Delite Enterprises (Tax Appeal 110 of 2009) (Mumbai High Court), Shree Shyamkamal Finance & Leasing Co.(P) Ltd. Vs. ITO (21 SOT 42) (Mumbai ITAT), JCIT Vs. Holland Equipment Co. B.V. (3 SOT 810) (Mumbai ITAT), CIT Vs. M/s. Lakhani Marketing Inc. (49 taxmann.com 257) (Punjab High Court), CIT Vs. Corretech Energy (P.) Ltd. (2014) 223 Taxmann 130 Guj. High Court & CIT Vs. Winsome Textile Industries Ltd. 319 ITR 204 Punjab High Court. However, on the other hand, the Ld. Representative of the revenue has placed reliance upon the order passed i…

DCIT 6(2), Mumbai vs. Kohinoor Projects P.Ltd, Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 5241/MUM/2013[2008-09]Status: DisposedITAT Mumbai18 Oct 2016AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri Ramit Kochar, Am The Dy. Commissioner Of Income Vs. M/S. Kohinoor Projects Pvt. Tax, Circle- 6(2), Room No.563, Ltd. Kohinoor Corporate Aayakar Bhavan, M. K. Road, Office, Senapati Bapat Churchgate, Mumbai 400 021 Marg, Dadar (W), Mumbai- 400028. Pan:Aacck6164C Appellant .. Respondent Appellant By .. Shri A. K. Dhondial, Dr Appellant By .. Shri Yogesh Dadia, Ar Date Of Hearing .. 18-10-2016 Date Of Pronouncement .. 18- 10- 2016 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 14A

…low various interest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B.V. [2005] 3 SOT 810 (Mum.) and the relevant portion of the order of the Bombay Bench of the Tribunal is reproduced below:— 'Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only w…

Raniganj Co-Operative Bank Ltd, Raniganj vs. DCIT, Circle-2, Asansol

In the result, ITA No.1983/Kol/2014 is partly allowed while ITA

ITA 1983/KOL/2014[2008-2009]Status: DisposedITAT Kolkata02 Sept 2016AY 2008-2009

Bench: Hon’Ble Sri N.V.Vasudevan, Jm ] I.T.A Nos.1983 & 1984/Kol/2014 Assessment Years : 2008-09 & 2009-10 Raniganj Co-Operative Bank Ltd. -Vs.- D.C.I.T., Circle-2 & Jcit Raniganj Range-2, Asansol (Pan:Aaffr 3315 J)) (Appellant) (Respondent) For The Appellant : Shri U.Dasgupta, Advocate For The Respondent : Shri Rajat Kumar Kureel, Jcit.Sr.Dr

For Appellant: Shri U.Dasgupta, AdvocateFor Respondent: Shri Rajat Kumar Kureel, JCIT.Sr.DR
Section 14Section 143(3)Section 14ASection 24Section 6

…nterest payments on capital account. security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B. V. reported in (2005) 3 SOT 810 (Mumbai) and the relevant portion of the order of the Bombay Bench of the Tribunal is reproduced below: ITA Nos.1983&1984/Kol/2014-Raniganj Co-operative Bank Ltd. A.Y.2008-09& 2009-10 14 Regarding application of Section 14A of the Act. the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the enti…

Shri Suresh Verma, Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 1152/DEL/2013[2010-11]Status: DisposedITAT Delhi14 Jun 2016AY 2010-11
Section 132Section 133ASection 143Section 14A

…nterest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B. V. reported in (2005) 3 SOT 810 (Mumbai) and the relevant portion of the order of the Bombay Bench of the Tribunals reproduced below:- “Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only w…

Shri Suresh Verma, Delhi vs. ACIT, New Delhi

In the result, both the appeals filed by the assessee are allowed

ITA 1151/DEL/2013[2009-10]Status: DisposedITAT Delhi27 Nov 2015AY 2009-10

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: S/Shri Salil Kapoor, Shubham Rastogi and Sumit Lokchandani, AdvocatesFor Respondent: Smt. Sunita Kejriwal, CIT DR
Section 132Section 142(1)Section 143(2)Section 14ASection 153A

…nterest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B. V. reported in (2005) 3 SOT 810 (Mumbai) and the relevant portion of the order of the Bombay Bench of the Tribunals reproduced below:- “Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only…

Shri Suresh Verma, Delhi vs. ACIT, New Delhi

In the result, both the appeals filed by the assessee are allowed

ITA 1150/DEL/2013[2008-09]Status: DisposedITAT Delhi27 Nov 2015AY 2008-09

Bench: Shri N.K. Saini & Shri A.T. Varkey

For Appellant: S/Shri Salil Kapoor, Shubham Rastogi and Sumit Lokchandani, AdvocatesFor Respondent: Smt. Sunita Kejriwal, CIT DR
Section 132Section 142(1)Section 143(2)Section 14ASection 153A

…nterest payments on capital account, security deposits and unsecured loans. This conclusion of ours finds support in the decision of Bombay Bench of the Tribunal in the case of Joint Commissioner of Income Tax v. Holland Equipment Co. B. V. reported in (2005) 3 SOT 810 (Mumbai) and the relevant portion of the order of the Bombay Bench of the Tribunals reproduced below:- “Regarding application of Section 14A of the Act, the contention of the learned Department Representative has to be rejected on the face of it inasmuch as the entire income of the assessee is taxable under the Act. Section 14A is applicable only…