Marg Ltd. v. CIT

120 Taxmann.com 84High Court2020#1306 most cited

What is Marg Ltd. v. CIT authority for?

The disallowance of expenditure incurred to earn exempt income under Section 14A read with Rule 8D cannot exceed the actual exempt income earned by the assessee in that assessment year.

87

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2021 to 2026.

Also referred to as

Marg Ltd. v. CIT · Marg Ltd. · Section 14A disallowance · Rule 8D computation · disallowance cannot exceed exempt income · expenditure for exempt income · Madras High Court · AO satisfaction Section 14A · 120 Taxmann.com 84 · exempt income restriction

Also reported as

275 Taxmann 502

Sections most often in play

Section 14ASection 8DSection 115JBSection 143(3)Section 10ASection 10AASection 195Section 271(1)(c)

Issues it is cited on

section 40(a)(1)section 9(1)(ii)section 80absection 134rule 8d disallowancesection 108section 9(1)(vii)(b)section 10(35)depreciation on softwaresection 73make available clauseretrospective amendment

Judgments citing Marg Ltd. v. CIT

Bajaj Allianz General Insurance Company Ltd., Pune vs. Deputy Commissioner of Income-Tax

ITA 1655/PUN/2015[2007-08]Status: DisposedITAT Pune19 Apr 2022AY 2007-08
For Appellant: Shri Percy J. Pardiwalla &For Respondent: Ms. Divya Bajpai, CIT
Section 14ASection 28Section 43BSection 44

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, PUNE SHRI PARTHA SARATHI CHAUDHURY, JM AND DR. DIPAK P. RIPOTE, AM Assessment Year : 2007-08 The Dy. CIT Circle 1(1) Pune : Appellant Vs. Bajaj Allianz General Insurance Co. 1st floor, GE Plaza, Airport Road Pune-411 006 PAN ; AABCB5730G : Respondent C.O. No. 112/PUN/2017 Arising out of ITA No. 1645/PUN/2015 Assessment Year : 2007-08 Bajaj Allianz General Insurance Co. 1st floor, GE Plaza, Airport Road Pune-411 006 PAN ; AABCB5730G Cross Objector Vs. The dy. CIT Circle 1(1) Pune : Appellant in appeal. Assessment Year : 2007-08 Bajaj Allianz General Insurance Co…

Deputy Commissioner of Income-Tax vs. Bajaj Allianz General Insurance Company Ltd., Pune

ITA 1645/PUN/2015[2007-08]Status: DisposedITAT Pune19 Apr 2022AY 2007-08
For Appellant: Shri Percy J. Pardiwalla &For Respondent: Ms. Divya Bajpai, CIT
Section 14ASection 28Section 43BSection 44

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, PUNE SHRI PARTHA SARATHI CHAUDHURY, JM AND DR. DIPAK P. RIPOTE, AM Assessment Year : 2007-08 The Dy. CIT Circle 1(1) Pune : Appellant Vs. Bajaj Allianz General Insurance Co. 1st floor, GE Plaza, Airport Road Pune-411 006 PAN ; AABCB5730G : Respondent C.O. No. 112/PUN/2017 Arising out of ITA No. 1645/PUN/2015 Assessment Year : 2007-08 Bajaj Allianz General Insurance Co. 1st floor, GE Plaza, Airport Road Pune-411 006 PAN ; AABCB5730G Cross Objector Vs. The dy. CIT Circle 1(1) Pune : Appellant in appeal. Assessment Year : 2007-08 Bajaj Allianz General Insurance Co…

Dy CIT, Circle-7(1)(1), Mumbai vs. M/S. Mep Infrastructure Developers Ltd., Mumbai

In the result, appeal of the Revenue is dismissed

ITA 512/MUM/2021[2017-18]Status: DisposedITAT Mumbai26 Nov 2021AY 2017-18

Bench: Mrs. Diva Singh & Shri Rifaur Rahmandy.Cit, Circle-7(1)(1), Room No. 126, 1St Floor, Aayakar Bhavan, M.K. Road, Mumbai-400020 ............ Appellant Vs. M/S. Mep Infrastructure Developers Ltd. 410, Boomerang, Chandivali Farm Road, Andheri East, Mumbai-400072. Pan: Aadcm3650J ............ Respondent Appellant By : Sh. Kishore Dhule, Sr. Dr Respondent By : Ms. Tejal Saraf (Ar) Date Of Hearing : 24/11/2021 Date Of Pronouncement : 26/11/2021 Hearing Via Webex Order Per Diva Singh, J.M: In The Facts Of The Present Case, It Is Seen That The Assessee-Company Is Engaged In The Business Of Toll Collection As Per The Contract Entered With Various Authorities & Also In Providing Road, Repair & Maintenance Service To Its Subsidiaries Companies. 2. For The Purposes Of Addressing The Issues Necessitating Adjudication, It Is Necessary To First Address The Fact That The Present Appeal Has Been Filed By The Revenue, Wherein The Correctness Of The Order Dated 27.01.2021 Passed

For Appellant: Sh. Kishore Dhule, Sr. DRFor Respondent: Ms. Tejal Saraf (AR)
Section 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B”, MUMBAI BEFORE MRS. DIVA SINGH, JUDICIAL MEMBER & SHRI RIFAUR RAHMAN, ACCOUNTANT MEMBER Dy.CIT, Circle-7(1)(1), Room No. 126, 1st Floor, Aayakar Bhavan, M.K. Road, Mumbai-400020 ............ Appellant Vs. M/s. MEP Infrastructure Developers Ltd. 410, Boomerang, Chandivali Farm Road, Andheri East, Mumbai-400072. PAN: AADCM3650J ............ Respondent Appellant by : Sh. Kishore Dhule, Sr. DR Respondent by : Ms. Tejal Saraf (AR) Date of hearing : 24/11/2021 Date of pronouncement : 26/11/2021 HEARING VIA WEBEX ORDER PER DIVA SINGH, J.M: In the facts of the presen…

Mll Logistics Pvt. Ltd., Mumbai vs. ACIT - 3(2)(1), Mumbai

In the result, appeal is partly allowed

ITA 164/MUM/2019[2013-14]Status: HeardITAT Mumbai18 Nov 2021AY 2013-14

Bench: Shri G.S. Pannu (Hon’Ble) & Shri Saktijit Dey (Hon’Ble)

Section 115JSection 133(6)

…1 ITA 164/Mum/2019 IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI G.S. PANNU (HON’BLE PRESIDENT) AND SHRI SAKTIJIT DEY (HON’BLE JUDICIAL MEMBER) I.T.A. No.164/Mum/2019 (Assessment year 2013-14) M/s MLL Logistics Private Limited vs Assistant Commissioner of Income- 3rd Floor, Mittal Tower, B-Wing, Free tax-3(2)(1), Mumbai Press Journal Marg, Nariman Point Mumbai-400 021 PAN : AADCM7595C APPELLANT RESPONDENT Appellant by Shri Rahul Sarda, AR Respondent by Shri Bharat Andhale Sr AR(CIT) Date of hearing 20-10-2021 Date of pronouncement 18-11-2021 O R D E R Per Bench This is an appeal by the…

Northern Arc Capital Ltd (Formerly Known As Ifmr Capital Finance Pvt Ltd), Chennai vs. DCIT, Corp Cir-4(2), Chennai

In the result, appeal filed by the assessee is partly

ITA 205/CHNY/2019[2014-15]Status: DisposedITAT Chennai18 Aug 2021AY 2014-15

Bench: Shri V.Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.No.205/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) M/S. Northern Arc Capital Ltd. Vs The Deputy Commissioner Of Income Tax, [Formerly Known As Ifmr Capital Finance Pvt.Ltd.] Corporate Circle-4(2) 10Th Floor, Phase-I. Chennai. Iit Madras Research Park, Kanagam Village, Taramani, Chennai-600 113. Pan: Aacci 0979B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Suresh Periasamy,JCITFor Respondent: 02.08.2021
Section 143(3)Section 14ASection 14A(2)

…er records satisfaction as required u/s.14A(2) that having regard to books of account of the assessee suo motu disallowances computed by the assessee is not correct. In this regard, he relied upon following judicial precedents:- 1. Marg Ltd. Vs.CIT (2020) 120 Taxmann.com 84(Mad) 2.CIT Vs.Sociedade De Foemnto (2021) 123 taxmann.com 38 (Bom) 3. Pr.CIT Vs.Bajaj Finance Ltd, (2019) 110 taxmann.com 303 (Bom) 4. Pr.CIT Vs. UK Paints India Ltd. (2016) 76 taxmann.com 348 (Del) 5 5. The learned DR, on the other hand, supporting order of the learned CIT(A), submitted that from assessment year 2008- 09 onwards disallo…

Shri Ashok Kumar Kanodia, Coimbatore vs. ACIT Non Corporate Circle, Coimbatore

In the result, the assessee’s appeal is partly allowed

ITA 1722/CHNY/2018[2014-15]Status: DisposedITAT Chennai02 Jul 2021AY 2014-15

Bench: Shri V. Durga Rao & Shri S. Jayaramanआयकर अपील सं/.I.T.A. No: 1722/Chny/2018 "नधा"रण वष"/Assessment Year : 2014-15 Shri. Ashok Kumar Kanodia, The Assistant Commissioner Of Vs. 1 Dpf Lane, Bharathiyar Road, Income Tax, Pappanaickenpalayam, Non-Corporate Circle -1, Coimbatore – 641 037. Coimbatore. [Pan: Afrpk 2117G] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. L. Shibi ""यथ"क"ओरसे/Respondent By : Ms. R. Anita, Jcit सुनवाईक"तार"ख/Date Of Hearing : 30.06.2021 घोषणाक"तार"ख/Date Of Pronouncement : 02.07.2021

For Appellant: Shri. L. ShibiFor Respondent: Ms. R. Anita, JCIT
Section 10(34)Section 14A

…ance, if any, which could be made u/s. 14A r.w.r. 8D cannot exceed the exempt income. In this regard, the Ld. AR invited our attention to the Jurisdictional High Court decision in the case of Marg Ltd., vs CIT, Chennai :- 3 -: ITA No: 1722/Chny/2018 (2020) 120 Taxmann.com 84, Madras in TCA No. 41 to 43 and 220 of 2017 dated 30.09.2020. Wherein, the head note is extracted as under: “Disallowance under rule 8D read with section 14A can never exceed exempted income earned by assessee during particular assessment year, and same can be computed as per rule 8D only after recording satisfaction by Assessing Authorit…

Industrial Development Corporation of Orissa Limited, Bhubnaeswar vs. DCIT, Circle-4(1), Bhubaneswar

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

ITA 343/CTK/2019[2014-15]Status: DisposedITAT Cuttack09 Mar 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अपीऱ सं./Ita No.343/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Industrial Development Vs Dcit, Circle-4(1), Bhubaneswar Corporation Of Orissa Limited (Idcol), Idcol House, Ashok Nagar, Bhubaneswar-751001 Pan No. : Aaaci 4821 L (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri S.C.Bhadra, Ca िाजस्व की ओर से /Revenue By : Shri S.C.Mohanty, Dr सुनवाई की तािीख / Date Of Hearing : 05/03/2021 घोषणा की तािीख/Date Of Pronouncement : 09/03/2021 आदेश / O R D E R Per Bench: This Is An Appeal Filed By The Assessee Against The Order Passed By The Cit(A)-1, Bhubaneswar, Dated 14.08.2019 For The Assessment Year 2014-2015, On The Following Grounds :- 1. The Order Of Assessment As Well As Appeal Is Against Law, Weight Of Evidences & Probabilities Of The Case. 2. The Learned Assessing Officer As Well As The Commissioner Of Income Tax (Appeals) Has Most Arbitrarily Disallowed Rs. 1,63,05,059/-, U/S 14A Against The Exempted Income Of Rs.5,50,000/-, Being Dividend Received From Associate Companies In Routine Manner, Without Properly Recording The Dissatisfaction Of The Assessing Officer 3. The Interest On Income Tax Refund Of Rs.8,04,924/-, Which Is Adjusted Against Demand, Was Not Properly Intimated For Which The Same Is Not Recognized As Income. 4. The Learned Assessing Officer Added Rs.6,66,721/-, As Interest On Fixed Deposit Based On The Comment Of The Auditor, Which Is Recognized In Subsequent Assessment Year. 5. The Learned Assessing Officer Erred In Adding, Amount Disallowed U/S 14A, Of Rs. 1,63,05,059/-, Rs.8,04,924/-, On Account Of Income

For Appellant: Shri S.C.Bhadra, CAFor Respondent: Shri S.C.Mohanty, DR
Section 111JSection 115JSection 14ASection 68

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अपीऱ सं./ITA No.343/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) Industrial Development Vs DCIT, Circle-4(1), Bhubaneswar Corporation of Orissa Limited (IDCOL), IDCOL House, Ashok Nagar, Bhubaneswar-751001 PAN No. : AAACI 4821 L (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee by : Shri S.C.Bhadra, CA िाजस्व की ओर से /Revenue by : Shri S.C.Mohanty, DR सुनवाई की तािीख / Date of Hearing : 05/03/2021 घोषणा की तािीख/Date of Pronouncem…