How many judgments cite Joint Investments Pvt. Ltd. v. CIT?

803 judgments on BharatTax cite Joint Investments Pvt. Ltd. v. CIT (372 ITR 694), spanning 2015 to 2026.

Which sections of the Income Tax Act does Joint Investments Pvt. Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 14A, Section 143(3), Section 37(1), Section 8D, Section 115JB, Section 143(2).

Joint Investments Pvt. Ltd. v. CIT

372 ITR 694High Court2015#63 most cited

What is Joint Investments Pvt. Ltd. v. CIT authority for?

Disallowance under section 14A of the Income Tax Act cannot exceed the actual amount of exempt income earned by the assessee. This principle also applies when computing book profits under section 115JB.

803

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

Joint Investments Pvt. Ltd. v. CIT · section 14A disallowance · exempt income expenditure limit · Rule 8D · section 115JB book profit · disallowance cannot exceed exempt income · Joint Investments · Delhi High Court 2015

Sections most often in play

Section 14A Section 143(3)Section 37(1)Section 8D Section 115JB Section 143(2)Section 10AA Section 10B

Read the full judgment

Issues it is cited on

disallowance under section 14a disallowance u/s 14a section 14a section 37 section 10 salary previous year section 80 section 14 company india transfer

Judgments citing Joint Investments Pvt. Ltd. v. CIT

Snj Synthetics Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-3(2), Hyderabad

In the result, appeal of assessee is partly allowed

ITA 1926/HYD/2017[2013-14]Status: DisposedITAT Hyderabad09 May 2018AY 2013-14

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri B. Suresh Babu, DR

Section 10Section 10(34)Section 10(38)Section 11Section 115JSection 12Section 143(3)Section 14ASection 8D

…madhenu Sukrit Pvt. Ltd., Vs. Income Tax Officer, dt. 22-11-2017. Ld. Counsel for assessee has relied on the following case law: a. Pr.Commissioner of Income Tax Vs. Empire Package Pvt. Ltd., [286 CTR 457 (P & H-HC)]; b. Joint Investments Pvt. Ltd., Vs. CIT [372 ITR 694 (Del-HC)]; c. K. Ratanchand & Co., Vs. ITO [45 ITR (Trib) 608 (Ahd-Trib); d. Pest Control India Pvt. Ltd., Vs. DCIT, ITAT Mumbai dated 31-10-2017; e. TGV Projects & Investments Pvt. Ltd., Vs. ACIT ITAT, Hyderabad, dated 28-02-2017 (SMC); f. Avshesh Mercantile (P) Ltd., Vs. DCIT [26 taxmann.com 43 (Mumbai)/(2012) 54 SOT 19]; g. CIT Vs. Oriental St…

Ashita Parekh, Mumbai vs. ITO 12(1)(2), Mumbai

In the result, appeal filed by assessee is allowed

ITA 2301/MUM/2014[2009-10]Status: DisposedITAT Mumbai01 May 2018AY 2009-10

Bench: Shri G.S. Pannu & Shri Pawan Singhmrs. Ashita Parekh, Ito 12(1)(2) 608, Dalamal House, Nariman Aayakar Bhavan, M.K. Road, Point, Mumbai-400023. Mumbai-20. Pan: Aitpp7843J Vs. Appellant Respondent Appellant By : Shri Neelkanth Khandelwal (Ar) Respondent By : Shri Rajesh Kumar Yadav (Dr) Date Of Hearing : 01.05.2018 Date Of Pronouncement : 01.05.2018 Order Per Pawan Singh; 1. The Instant Appeal By Assessee Under Section 253 Of The Income-Tax Act

For Appellant: Shri Neelkanth Khandelwal (AR)For Respondent: Shri Rajesh Kumar Yadav (DR)

Section 10(34)Section 114ASection 14ASection 253

…the disallowance should be restricted to the exempt income. In support of its submission, the ld. AR of the assessee relied upon the decision of Hon’ble Delhi High court in case of Joint 2 ITA No.2301/M/14- Mrs. Ashita Parekh Investments (P) Ltd. vs. CIT 372 ITR 694 (Del). On the other hand, the ld. DR for the Revenue vehemently supported the order of authorities below. 4. We have considered the rival submission of the parties and have gone through the orders of authorities below. There is no dispute that assessee earned exempt income of Rs. 5,01,708/-. The Assessing Officer made the disallowance of Rs. 54,…

Ansh Merchandise P Ltd, Mumbai vs. DCIT 5(2), Mumbai

In the result, appeal of the assessee is partly allowed as indicated above

ITA 6458/MUM/2014[2010-11]Status: DisposedITAT Mumbai16 Apr 2018AY 2010-11

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6458/Mum/2014 (नििाारण वर्ा / Assessment Year: 2010-11) बिाम/ Ansh Merchandise Private Dcit 5(2) Ltd, Aayakar Bhavan, Office No. 211, Balaji Arcade Mumbai-400020 V. Near Sejal Glass, S.V. Road, Kandivali (W), Mumbai-400067 स्थायी ऱेखा सं./ Pan : Aabcn8176E (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Dr. K. Shivaram &For Respondent: Shri. R.P Meena ,CIT-DR

Section 10(34)Section 143(3)Section 14A

…t the said disallowance cannot exceed exempt income which were to the tune of Rs. 1,26,939/- . The learned counsel for the assessee relied upon the decision of the Hon’ble Delhi High Court in the case of Joint Investments Private Ltd v. CIT reported in (2015) 372 ITR 694(Del HC). It was also submitted that as per decision of ITAT, Delhi-Special Bench I.T.A. No.6458/Mum/2014 in the case of ACIT v. Vireet Investment Private Ltd reported in (2017) 165 ITD 27(Del-trib.)(SB) only those investments which yielded dividend/exempt income during the relevant year are to be considered for making disallowance u/s. 14A r.w.…

DCIT CIT 6(3), Mumbai vs. Mahindra Ugine Steel Co. Ltd, Mumbai

Appeal stands dismissed

ITA 6659/MUM/2014[2009-10]Status: DisposedITAT Mumbai11 Apr 2018AY 2009-10

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकर अपील सं./I.T.A. No.6659/Mum/2014 (िनधा"रण वष" / Assessment Year: 2009-10) Deputy Commissioner Of Income Tax Mahindra Cie Automotive Limited Circle-7(2)(1) (The Merged Entity Of Mahindra Ugine Steel Co.Ltd) 74,Ganesh Apartment Room No.338,3Rd Floor बनाम/ Opp.Sitladevi Temple Aaykar Bhavan,M.K.Road Vs. Lady Jamshedji Road, Mahim Mumbai-400 020 Mumbai-400 016 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aaacm-4998-G/Aabcm-6632-J (अपीलाथ" /Appellant) (""थ" / Respondent) : & Cross Objection No.96/Mum/2016 (िनधा"रण वष" / Assessment Year: 2009-10) Mahindra Cie Automotive Limited Assistant Commissioner Of (The Merged Entity Of Mahindra Ugine Steel Co.Ltd) Income Tax Range-6(3) बनाम/ Mahindra Towers,1St Floor Room No.573,5Th Floor Vs. Dr.G.M.Bhosale Marg, Worli Aaykar Bhavan, M.K.Road Mumbai-400 018 Mumbai-400 020 "थायी लेखा सं./जीआइआर सं./Pan/Gir No.Aabcm-6632-J/Aaacm-4998-G (अपीलाथ" /Appellant) (""थ" / Respondent) :

For Appellant: H.P.Mahajani & Prasad Bapat,Ld.AR’sFor Respondent: Saurabh Kumar Rai, Ld.DR

Section 143(3)Section 251(1)(a)Section 36Section 36(1)(iii)

…s been held that disallowance u/s 14A could not exceed the exempt income earned by the assessee. To cite a few:- (i) Hon’ble Delhi High Court in Cheminvest Ltd. v. CIT [2015 378 ITR 33] (ii) Hon’ble Delhi High Court in Joint Investments (P.) Ltd. v. CIT [2015 372 ITR 694] (iii) Hon’ble Delhi High Court in CIT v. Holcim India (P.) Ltd. [2015 57 Taxmann.com 28] (iv) Hon’ble Delhi High Court in PCIT Vs. IL&FS Energy Development Co. Ltd. [84 Taxmann.com 186 dated 16/08/2017] (v) Hon’ble Punjab & Haryana High Court in PCIT Vs Empire Package Private Limited [2017 81 Taxmann.com 108] ITA No.6659/Mum/2014 &Co.No.96/Mum/…

ACIT Corporate Circle 5(2), Chennai vs. Photon Infotech (P) Ltd., Chennai

In the result, the appeal of the Revenue is dismissed

ITA 2856/CHNY/2017[2013-14]Status: DisposedITAT Chennai10 Apr 2018AY 2013-14

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.N.Madhavan, A.C.I.T, D.RFor Respondent: Mr.Saroj Kumar Parida,Advocate

Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य के सम" एवं एस जयरामन, लेखा सद"य BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI S.JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.2856/CHNY/2017 "नधा"रण वष" /Assessment year : 2013-14 Deputy Commissioner of Income Vs. M/s.Photon Infotech (P) Tax, Ltd., No.7, 7th Cross street, Corporate Circle 5(2), Chennai-34. Shastri Nagar,Adyar, Chennai 600 020. [PAN AABCP 9405 E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Mr.N.Madhavan, A.C.I.T, D.R ""यथ" क" ओर…

ACIT Corporate Circle 5(2), Chennai vs. Pon Pure Chem. Pt. Ltd., Chennai

In the result, both the appeals of the Revenue for

ITA 2855/CHNY/2017[2014-15]Status: DisposedITAT Chennai10 Apr 2018AY 2014-15

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.N.Madhavan, A.C.I.T, D.RFor Respondent: Mr.G.Baskar, Advocate, &

Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य के सम" एवं एस जयरामन, लेखा सद"य BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI S.JAYARAMAN, ACCOUNTANT MEMBER I.T.A.Nos.2854/CHNY/2017 & C.O No.15/CHNY/2018 Assessment year : 2013-14 AND I.T.A.Nos.2855/CHNY/2017 & C.O No.16/CHNY/2018 Assessment year : 2014-15 Deputy Commissioner of Income Vs. M/s.Pon Pure Chem Private Tax, Ltd., Corporate Circle 5(2), No.32, H Block, Main Road, Chennai-34. Chennai 600 040. [PAN AACCP 3026 E] (अपीलाथ"/Appellant) (""यथ"/Respondent/ Cross Objector) अप…

ACIT Corporate Circle 5(2), Chennai vs. Pon Pure Chem. Pt. Ltd., Chennai

In the result, both the appeals of the Revenue for

ITA 2854/CHNY/2017[2013-14]Status: DisposedITAT Chennai10 Apr 2018AY 2013-14

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.N.Madhavan, A.C.I.T, D.RFor Respondent: Mr.G.Baskar, Advocate, &

Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य के सम" एवं एस जयरामन, लेखा सद"य BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI S.JAYARAMAN, ACCOUNTANT MEMBER I.T.A.Nos.2854/CHNY/2017 & C.O No.15/CHNY/2018 Assessment year : 2013-14 AND I.T.A.Nos.2855/CHNY/2017 & C.O No.16/CHNY/2018 Assessment year : 2014-15 Deputy Commissioner of Income Vs. M/s.Pon Pure Chem Private Tax, Ltd., Corporate Circle 5(2), No.32, H Block, Main Road, Chennai-34. Chennai 600 040. [PAN AACCP 3026 E] (अपीलाथ"/Appellant) (""यथ"/Respondent/ Cross Objector) अप…

DCIT Corporate Circle 5(1), Chennai vs. Rajkumar Impex P Ltd., Chennai

In the result, both the appeals of the Revenue for

ITA 2852/CHNY/2017[2014-15]Status: DisposedITAT Chennai10 Apr 2018AY 2014-15

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.N.Madhavan, A.C.I.T, D.RFor Respondent: Ms.Hemalatha,C.A

Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य के सम" एवं एस जयरामन, लेखा सद"य BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI S.JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.2851 & 2852/CHNY/2017 "नधा"रण वष" /Assessment years : 2013-14 & 2014-15 Deputy Commissioner of Income Vs. M/s.Rajkumar Impex Ltd., Tax, No.93, New No.119, St.Mary’s Corporate Circle 5(1), Road, Abhirampuram, Chennai-34. Chennai 600 018, [PAN AAACR 3577 J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Mr.N.Madhavan, A.C.I…

DCIT Corporate Circle 5(1), Chennai vs. Rajkumar Impex P Ltd., Chennai

In the result, both the appeals of the Revenue for

ITA 2851/CHNY/2017[2013-14]Status: DisposedITAT Chennai10 Apr 2018AY 2013-14

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.N.Madhavan, A.C.I.T, D.RFor Respondent: Ms.Hemalatha,C.A

Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘ C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य के सम" एवं एस जयरामन, लेखा सद"य BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER & SHRI S.JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.Nos.2851 & 2852/CHNY/2017 "नधा"रण वष" /Assessment years : 2013-14 & 2014-15 Deputy Commissioner of Income Vs. M/s.Rajkumar Impex Ltd., Tax, No.93, New No.119, St.Mary’s Corporate Circle 5(1), Road, Abhirampuram, Chennai-34. Chennai 600 018, [PAN AAACR 3577 J] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Mr.N.Madhavan, A.C.I…

ACIT 2(1), Mumbai vs. Bombay Dyeing & Manufacturing Co, . Ltd, Mumbai

In the result, ground of appeal raised by Revenue is dismissed

ITA 6055/MUM/2014[2008-09]Status: DisposedITAT Mumbai02 Apr 2018AY 2008-09

Bench: Shri R.C. Sharma & Shri Pawan Singhacit -2(1) M/S Bombay Dyeing & Mfg. Co. Aayakar Bhavan, M.K. Road, Ltd. Neville House, J N Heredia Room No. 575, 5Th Floor, M.K. Vs. Marg, Ballard Estate, Road, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) Acit -2(1) M/S Bombay Dyeing & Mfg. Co. Room No. 561, 5Th Floor, Ltd. Neville House, J N Heredia Vs. Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent) M/S Bombay Dyeing & Mfg. Co. Acit -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Mumbai-20. Marg, Ballard Estate, Vs. Mumbai-400001 Pan:Aaact2328K (Appellant) (Respondent)

For Appellant: Shri Yogesh A. Thar with MsFor Respondent: Shri Saurabh Deshpande (DR)

Section 14ASection 253Section 254(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “K”, MUMBAI BEFORE SHRI R.C. SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ACIT -2(1) M/s Bombay Dyeing & Mfg. Co. Aayakar Bhavan, M.K. Road, Ltd. Neville House, J N Heredia Room No. 575, 5th Floor, M.K. Vs. Marg, Ballard Estate, Road, Mumbai-20. Mumbai-400001 PAN:AAACT2328K (Appellant) (Respondent) M/s Bombay Dyeing & Mfg. Co. ACIT -2(1) Ltd. Neville House, J N Heredia Aayakar Bhavan, M.K. Road, Marg, Ballard Estate, Mumbai-20. Vs. Mumbai-400001 PAN:AAACT2328K (Appellant) (Respondent) ACIT -2(1) M/s Bombay Dyeing & Mfg. Co. Room No. 561, 5th Floor,…

Addl CIT 2(1), Mumbai vs. Bombay Dyeing & Mfg Co. Ltd, Mumbai

In the result, ground of appeal raised by Revenue is dismissed

ITA 557/MUM/2012[2007-08]Status: DisposedITAT Mumbai02 Apr 2018AY 2007-08

For Appellant: Shri Yogesh A. Thar with MsFor Respondent: Shri Saurabh Deshpande (DR)

Section 14ASection 253Section 254(1)

M/S Gowrishankar and Company, Bangalore vs. The Assistant Commissioner of Income Tax Circle-7(2)(1), Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 573/BANG/2018[2013-14]Status: DisposedITAT Bangalore23 Mar 2018AY 2013-14

Bench: Shri Arun Kumar Garodiaassessment Year : 2013-14

For Appellant: Shri Narendra Kumar Jayantilal JainFor Respondent: Shri L.V. Bhaskar Reddy, Addl. CIT (DR)

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC-B” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER Assessment Year : 2013-14 M/s. Gowrishankar & Company, The Assistant No. 263/42, “Sanklap”, Commissioner of Income 5th Main, 4th Block, Vs. Tax, Jayanagar, Circle – 7 (2) (1), Bangalore – 560 011. Bangalore. PAN: AACFG7571Q APPELLANT RESPONDENT Appellant by : Shri Narendra Kumar Jayantilal Jain, Advocate Respondent by : Shri L.V. Bhaskar Reddy, Addl. CIT (DR) Date of hearing : 20.03.2018 Date of Pronouncement : 23.03.2018 O R D E R Per Shri A.K. Garodia, Accountant Member This appeal is filed by t…

ACIT, Circle-34, Kolkata vs. M/S Banwarilall Pasari, Kolkata

In the result, the appeal of the revenue for A

ITA 2115/KOL/2016[2013-14]Status: DisposedITAT Kolkata14 Mar 2018AY 2013-14

Bench: Shri P.M. Jagtap, Am & Shri S.S. Viswanethra Ravi, Jm] I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 Acit Cir 34..............................………………………...........................................................Appellant Aayakar Bhawan, Poorva, 7Th Floor, 110, Shantipally, Kolkata – 107. M/S. Banwarilall Pasari………………………………………………...............................Respondent 16, India Exchange Place, Kolkata – 1. [Pan: Aacfb 7611 A] Appearances By: Shri Arindam Bhattacharjee, Addl. Cit Appearing On Behalf Of The Revenue. Shri S. Jhajharia, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : February 15, 2018 Date Of Pronouncing The Order : March 14, 2018 Order

…ion as discussed above will in my considered opinion be directly be incidental to the instant case, 7. I have further considered the judicial references cited by the appellant, namely a decision of Hon’ble Delhi High Court dated 25.02.2015 reported in (2015) 372 ITR 694 (Del) in which also it has been very clearly held that 10 I.T.A. No. 2114 & 2115/Kol/2016 Assessment Years: 2012-13 & 2013-14 M/s. Banwarilal Pasari without recording satisfaction there could be no question of disallowance u/s 14A read with Rule 8D. The decision of Hon'ble Delhi High Court is reported in 372 ITR 694 (Del). It was also held in…

ACIT, Circle-34, Kolkata vs. M/S Banwarilall Pasari, Kolkata

In the result, the appeal of the revenue for A

ITA 2114/KOL/2016[2012-13]Status: DisposedITAT Kolkata14 Mar 2018AY 2012-13

Speed Tex P.Ltd, Mumbai vs. DCIT 2(3), Mumbai

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

ITA 825/MUM/2016[2011-12]Status: DisposedITAT Mumbai09 Mar 2018AY 2011-12

Bench: Shri Ravish Sood, Jm & Shri N.K.Pradhan, Am M/S Speed Tax Private Ltd. Dcit-2(3) 418, Commerce House, बिधम/ Mumbai 140, Nagindas Master Vs. Road, Fort, Mumbai-400023 स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaacs6314G (अऩीराथी /Appellant ) (प्रत्मथी / Respondent) :

For Appellant: Shri Nitesh Jain, A.RFor Respondent: Shri V. Justin, D.R

Section 143(1)Section 143(2)Section 143(3)Section 14A

…P a g e | 1 ITA No. 825/Mum/2016 A.Y 2011-12 M/s Speed Tax Private Ltd. Vs. DCIT-2(3) IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI RAVISH SOOD, JM AND SHRI N.K.PRADHAN, AM M/s Speed Tax Private Ltd. DCIT-2(3) 418, Commerce House, बिधम/ Mumbai 140, Nagindas Master Vs. Road, Fort, Mumbai-400023 स्थामी रेखा सं./ जीआइआय सं./ PAN No. AAACS6314G (अऩीराथी /Appellant ) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant by : Shri Nitesh Jain, A.R प्रत्मथी की ओय से/Respondent by : Shri V. Justin, D.R सुनवाई की तायीख / : 22.02.2018 Date of Hearing घोषणा की तायीख / : 09.03.2018 Date of Pro…

Labdhi Stock & Derivatives Services P.Ltd, Mumbai vs. ITO 4(3)(3), Mumbai

In the result, the appeal filed by the assessee is partly allowed

ITA 1723/MUM/2012[2008-09]Status: DisposedITAT Mumbai09 Mar 2018AY 2008-09

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

Section 143(2)Section 143(3)Section 14ASection 194JSection 37Section 40Section 88E

…for the year under consideration. 8. Having heard both the sides and considered material available on record, we find force in the arguments of the assessee for the reason that disallowance contemplated u/s 14A cannot swallow the entire Ltd vs ACIT (2015) 372 ITR 694 (Del). In this case, the assessee has earned exempt income of Rs.895, whereas the AO has determined disallowance of Rs.14,727 which is more than the exempt income earned by the assessee. Therefore, we are of the view that disallowance contemplated u/s 14A shall not exceed the exempt income earned for the relevant financial year and accordingly…

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

…P a g e | 1 ITA No. 5132/Mum/2015 A.Y 2011-12 ACIT-3(2)(2) Vs. M/s Kail Limited IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI R.C.SHARMA, AM AND 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) : अऩीराथी की ओय से / Revenue by : Shri Rajesh Kumar Yadav, D.R प्रत्मथी की ओय से/Assessee by : Shri Mayank Chauhan, A.R सुनवाई की तायीख / : 07.12.2017 Date of Hea…

DCIT Corporate Circle 3(2), Chennai vs. Western Agencies (Madras) P. Ltd., Chennai

In the result, the appeal filed by the Revenue is dismissed

ITA 1806/CHNY/2017[2012-13]Status: DisposedITAT Chennai28 Feb 2018AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri A. Mohan Alankamonyआयकर अपील सं./Ita No.1806/Chny/2017 "नधा"रण वष" / Assessment Year : 2012-13

For Appellant: Shri B. Sahadevan, JCITFor Respondent: Shri G. Baskar, Advocate

Section 14ASection 194ASection 40

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी ए. मोहन अलंकामणी, लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1806/Chny/2017 "नधा"रण वष" / Assessment Year : 2012-13 The Deputy Commissioner of M/s Western Agencies Income Tax, v. (Madras) Pvt. Ltd., Corporate Circle – 3(2), No.109/7, Utility Complex, Chennai - 600 034. Angappa Naicken Street, Parrys, Chennai - 600 001. PAN : AAACW 1558 Q (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर…

DCIT Corporate Circle 2(1), Chennai vs. Ews Finance & Investments P Ltd., Chennai

In the result, the appeal of the Department stands

ITA 2382/CHNY/2017[2008-09]Status: DisposedITAT Chennai26 Feb 2018AY 2008-09

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No.2382/Chny/2017 "नधा"रण वष" /Assessment Year : 2008-2009. The Deputy Commissioner Of M/S. Ews Finance & Investments Income Tax, Vs. P. Ltd, Dhun Building, 3Rd Floor, Corporate Circle 2(1) Chennai 600 034. North Wing, 827, Anna Salai, Chennai 600 002. [Pan Aabce 6707E] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: None

Section 14A

…hort :- 2 -: ‘’the Act’’) to the extent of exempt dividend income claimed by the assessee. We find that the issue raised by the Revenue is squarely 2. covered by the Hon’ble Delhi High Court judgment in the case of Joint Investments Private Limited vs. CIT, 372 ITR 694. What was held by their lordships is reproduced hereunder in ITA No.892/Mds/2017, dated 27.11.2017. ‘’9. In the present case, the AO has not firstly disclosed why the appellant/assessee’s claim for attributing Rs.2,97,440/- as a disallowance under Section 14A had to be rejected. Taikisha says that the jurisdiction to proceed further and determi…

ACIT, Chennai vs. East Coast Construction & Industries Limited, Chennai

In the result, the Revenue’s appeal in ITA No

ITA 1433/CHNY/2016[2012-13]Status: DisposedITAT Chennai14 Feb 2018AY 2012-13

Bench: Shri George Mathan & Shri S. Jayaraman

For Appellant: Shri. G. Baskar, AdvocateFor Respondent: Shri. D. PrabhuMukunthArun Kumar

Section 263bSection 80Section 801ASection 80I

…e. The assessee did not claim exemption of this dividend income in the computation statements of the respective ay and pleaded that the disallowances, if any , may be restricted to dividend income earned as per the decision of Joint Investment vs CIT (2015) 372 ITR 694, Delhi. He has also pleaded that since the assessee has not claimed the dividend income as an exemptincome inthe computation statements of the respective ay, even the restriction of the disallowances in accordance with the ratio of the Delhi HC, supra, is also not required . However, if it is held that disallowances are required , then the AO m…