Maxopp Investment Ltd. v. CIT

347 ITR 272High Court2012#129 most cited

What is Maxopp Investment Ltd. v. CIT authority for?

Disallowance under Section 14A cannot exceed the exempt income earned. The Assessing Officer must record satisfaction regarding the assessee's accounts before making any disallowance.

516

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2013 to 2026.

Also referred to as

Maxopp Investment Ltd. v. CIT · section 14A · disallowance under section 14A · exempt dividend income · satisfaction of AO · Rule 8D · disallowance cannot exceed exempt income

Also reported as

203 Taxmann 36415 Taxmann.com 390

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 8DSection 36(1)(vii)Section 36(1)(iii)Section 36(1)(viia)Section 36(1)(viii)

Issues it is cited on

section 14a(2)disallowance under section 14adisallowance u/s 14asection 14arevenue expendituresection 115jsection 115jbsection 19section 37(1)section 36section 37section 115

Judgments citing Maxopp Investment Ltd. v. CIT

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1534/KOL/2016[2009-10]Status: DisposedITAT Kolkata10 Jan 2018AY 2009-10

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate
Section 143(3)Section 14ASection 14A(2)

…n’ble ITAT, Kolkata in different case without taking into 3 M/s Gangadhar Developers Pvt. Ltd. A.Yrs. 08-09,09-10,10-11 & 12-13 consideration the decision of the Hon’ble High Court of Delhi in the case of Maxopp Investment Ltd. Vs. CIT, New Delhi reported in 347 ITR 272(Delhi) (2012), wherein the addition made by the AO under provisions of sec. 14A of the Act, by disallowing interest expenses relatable to exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur v…

DCIT, Circle-1, Siliguri vs. M/S Gangadhar Developers Pvt. Ltd., Siliguri

In the result, the appeals of the revenue for assessment years 2008-09, 2009-10

ITA 1533/KOL/2016[2008-09]Status: DisposedITAT Kolkata10 Jan 2018AY 2008-09

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Hon’Ble Shri M.Balaganesh, Am ] I.T.A Nos. 1533-1536/Kol/2016 Assessment Years : 2008-09, 2009-10, 2010-11 & 2012-13 Respectively Dcit, Circle-1, Siliguri -Vs- M/S Gangadhar Developers Pvt. Ltd. [Pan: Aaccg 0424 H] (Appellant) (Respondent)

For Appellant: Shri Arindam Bhattacharjee, Addl. CITFor Respondent: Shri Subash Agarwal, Advocate
Section 143(3)Section 14ASection 14A(2)

…n’ble ITAT, Kolkata in different case without taking into 3 M/s Gangadhar Developers Pvt. Ltd. A.Yrs. 08-09,09-10,10-11 & 12-13 consideration the decision of the Hon’ble High Court of Delhi in the case of Maxopp Investment Ltd. Vs. CIT, New Delhi reported in 347 ITR 272(Delhi) (2012), wherein the addition made by the AO under provisions of sec. 14A of the Act, by disallowing interest expenses relatable to exempt income in respect of invest made in group companies has been upheld. (b) Reliance is also placed on the decision of the Hon’ble High Court of Kerala in the case of Commissioner of Income Tax, Thrissur v…

Anand Rathi Capital Advisors P.Ltd, Mumbai vs. DCIT Cen Cir 5(1), Mumbai

The appeal of the revenue is dismissed

ITA 7543/MUM/2016[2009-10]Status: DisposedITAT Mumbai03 Jan 2018AY 2009-10

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7543, 7544, 7515 & 7546/Mum/2016 (निर्धारण वषा / Assessment Years:2009-10, 2011-12, 2013-14 & 2014-15) M/S Anand Rathi Capital Dcit, Central Circle-5(1) Advisors P. Ltd, 47A, 3Rd R. No. 1928, 19Th Floor, बिधम/ Floor, Plot No. 308 Air India Building, Vs. Hanuman Bldg, Perin Nariman Point, Nariman Street, Fort, Mumbai-400 021 Mumbai – 400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaacr2791N (अऩीराथी /Assessee) (प्रत्मथी / Revenue) :

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri Abhijit Patankar, D.R
Section 132(1)Section 143(3)Section 14ASection 153A

…ITA Nos. 7543-7544/Mum/2016, ITA No. 7515/Mum/2016 & ITA No. 7546/Mum/2016 1 Anand Rathi Capital Advisors P. Ltd. vs. DCIT ITA Nos. 7472 -7474/Mum/2016 DCIT vs. Anand Rathi Capital Advisors P. Ltd IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM AND SHRI RAVISH SOOD, JM ITA Nos. 7543, 7544, 7515 and 7546/Mum/2016 (निर्धारण वषा / Assessment Years:2009-10, 2011-12, 2013-14 & 2014-15) M/s Anand Rathi Capital DCIT, Central Circle-5(1) Advisors P. Ltd, 47A, 3rd R. No. 1928, 19th Floor, बिधम/ Floor, Plot No. 308 Air India Building, Vs. Hanuman Bldg, Perin Nariman Point, Nariman Street…

Anand Rathi Global Finance Ltd, Mumbai vs. DCIT Cen Cir 5(1), Mumbai

The appeal of the revenue is dismissed

ITA 7527/MUM/2016[2012-13]Status: DisposedITAT Mumbai03 Jan 2018AY 2012-13

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7527 & 7526/Mum/2016 (निर्धारण वषा / Assessment Years:2012-13 & 2014-15) M/S Anand Rathi Global Dcit, Central Circle-5(1) Finance Ltd., 4Th Floor, R. No. 1928, 19Th Floor, बिधम/ Silver Metropolis Bldg., Air India Building, Vs. Western Express Highway, Nariman Point, Goregaon (E), Mumbai-400 021 Mumbai-400 063 स्थायी लेखा सं./जीआइआर सं./ Pan No. Aabcr1136N (अऩीराथी /Assessee) (प्रत्मथी / Revenue) :

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri Abhijit Patankar, D.R
Section 132(1)Section 143(3)Section 14ASection 14A(1)Section 153A

…P a g e | 1 ITA Nos. 7514,7526,7527,7543,7544,7546 & 7469 to 7474/Mum/2016 M/s Anand Rathi Global Finance Ltd., Vs. DCIT Cen. Cir.-5(1) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM AND SHRI RAVISH SOOD, JM ITA Nos. 7527 and 7526/Mum/2016 (निर्धारण वषा / Assessment Years:2012-13 & 2014-15) M/s Anand Rathi Global DCIT, Central Circle-5(1) Finance Ltd., 4th Floor, R. No. 1928, 19th Floor, बिधम/ Silver Metropolis Bldg., Air India Building, Vs. Western Express Highway, Nariman Point, Goregaon (E), Mumbai-400 021 Mumbai-400 063 स्थायी लेखा सं./जीआइआर सं./ PAN No. AABCR1136N (अऩीराथी…

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 2517/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…आयकर अपीलीय अधधकरण म ुंबई “ई” खुंडपीठ IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI सर्वश्री राजेन्द्र,लेखा सदस्य एर्ुं अमरजीत ससह,न्द्याधयक सदस्य Before S/Shri Rajendra, A.M. and Amarjit Singh, J.M. आयकर अपील सुं./ITA No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/s.Siddhesh Capital Market Services Dy. Commissioner of Income Tax, P.Ltd,122, Maker Chamber III, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. PAN: AACCS4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./ITA No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner of Income Tax, M/s.Sidd…

DCIT Cir 3(3)(1), Mumbai vs. Siddhesh Capital Market Services P.Ltd, Mumbai

Appeal of the AO is dismissed

ITA 2489/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…आयकर अपीलीय अधधकरण म ुंबई “ई” खुंडपीठ IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI सर्वश्री राजेन्द्र,लेखा सदस्य एर्ुं अमरजीत ससह,न्द्याधयक सदस्य Before S/Shri Rajendra, A.M. and Amarjit Singh, J.M. आयकर अपील सुं./ITA No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/s.Siddhesh Capital Market Services Dy. Commissioner of Income Tax, P.Ltd,122, Maker Chamber III, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. PAN: AACCS4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./ITA No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner of Income Tax, M/s.Sidd…

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 6532/MUM/2012[2009-10]Status: DisposedITAT Mumbai01 Jan 2018AY 2009-10

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

…आयकर अपीलीय अधधकरण म ुंबई “ई” खुंडपीठ IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI सर्वश्री राजेन्द्र,लेखा सदस्य एर्ुं अमरजीत ससह,न्द्याधयक सदस्य Before S/Shri Rajendra, A.M. and Amarjit Singh, J.M. आयकर अपील सुं./ITA No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/s.Siddhesh Capital Market Services Dy. Commissioner of Income Tax, P.Ltd,122, Maker Chamber III, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. PAN: AACCS4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./ITA No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner of Income Tax, M/s.Sidd…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1870/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…nt Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products Ltd. -vs.~ Assistant Commissioner of Income-tax, Circle-6(1), Mumbai [2012] 52 SOT 39 (Mum) Raj Shipping Agencies Ltd vs. ACIT [2013] 38 taxman.com 345(Mum) DCIT vs. Allied…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1869/KOL/2014[2009-2010]Status: DisposedITAT Kolkata13 Dec 2017AY 2009-2010

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…nt Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products Ltd. -vs.~ Assistant Commissioner of Income-tax, Circle-6(1), Mumbai [2012] 52 SOT 39 (Mum) Raj Shipping Agencies Ltd vs. ACIT [2013] 38 taxman.com 345(Mum) DCIT vs. Allied…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1868/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…nt Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products Ltd. -vs.~ Assistant Commissioner of Income-tax, Circle-6(1), Mumbai [2012] 52 SOT 39 (Mum) Raj Shipping Agencies Ltd vs. ACIT [2013] 38 taxman.com 345(Mum) DCIT vs. Allied…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1867/KOL/2014[2007-2008]Status: DisposedITAT Kolkata13 Dec 2017AY 2007-2008

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…nt Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products Ltd. -vs.~ Assistant Commissioner of Income-tax, Circle-6(1), Mumbai [2012] 52 SOT 39 (Mum) Raj Shipping Agencies Ltd vs. ACIT [2013] 38 taxman.com 345(Mum) DCIT vs. Allied…

Tata Global Beverage Limited, Kolkata vs. ACIT, Cir-4, Kolkata

In the result ITA No.1869/Kol/2014 is allowed

ITA 1866/KOL/2014[2006-2007]Status: DisposedITAT Kolkata13 Dec 2017AY 2006-2007

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am ]

For Appellant: Shri Kanchun Kaushal, FCA & Shri Piyush Chawla, FCAFor Respondent: Shri S.Dasgupta, Addl. CIT(DR)
Section 115Section 115W

…nt Commissioner of Income-tax, Circle 10, Kolkata v. Champion Commercial Co. Ltd. [2013] 152 TTJ 241 (Kolkata) Commissioner of Income-tax—vs- Consolidated Photo & Finvest Ltd. [2012] 211 Taxman 184 (Delhi High Court) Maxopp Investments Limited - vs CIT (2012) 347 ITR 272 (Delhi) ITA Nos.1866 -1868,1870 & 1869/Kol/2014 Tata Global Beverages Limited A.Y.2006-07 to 2009-10 DCIT -vs.- Jindal Photo Limited -ITA NO. 814 (Del) 2011 Auchtel Products Ltd. -vs.~ Assistant Commissioner of Income-tax, Circle-6(1), Mumbai [2012] 52 SOT 39 (Mum) Raj Shipping Agencies Ltd vs. ACIT [2013] 38 taxman.com 345(Mum) DCIT vs. Allied…

M/S. Albasta Wholesale Services Ltd., New Delhi vs. ITO, New Delhi

In the result, the appeal is allowed

ITA 6041/DEL/2015[2012-13]Status: DisposedITAT Delhi11 Dec 2017AY 2012-13

Bench: Shri R.S. Syal & Shri C.M. Gargassessment Year : 2012-13 Albasta Wholesale Services Ltd., Vs. Ito, M-62 & 63, First Floor, Ward 2(2), Connaught Place, New Delhi. New Delhi. Pan: Aahca0198F Assessee By : Shri Abhishek Gupta, Ca Deptt. By : Shri Amit Jain, Sr. Dr

For Appellant: Shri Abhishek Gupta, CA
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : D : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI C.M. GARG, JUDICIAL MEMBER Assessment Year : 2012-13 Albasta Wholesale Services Ltd., Vs. ITO, M-62 & 63, First Floor, Ward 2(2), Connaught Place, New Delhi. New Delhi. PAN: AAHCA0198F Assessee By : Shri Abhishek Gupta, CA Deptt. By : Shri Amit Jain, Sr. DR Date of Hearing : 11.12.2017 Date of Pronouncement : 11.12.2017 ORDER PER R.S. SYAL, VP: This appeal by the assessee arises out of the order passed by the CIT(A) on 04.09.2015 in relation to the assessment year 2012-13. 2. The only issue raise…

DCIT Cir 3(3)(1), Mumbai vs. Sicom Investment & Finance Ltd, Mumbai

ITA 191/MUM/2015[2011-12]Status: DisposedITAT Mumbai06 Dec 2017AY 2011-12

Bench: Shri Rajendra, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 191/Mum/2015, (निर्धारणवर्ा / Assessment Year: 2011-12)

For Appellant: Shri V. JustinFor Respondent: Shri Jayant Bhatt
Section 10(34)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM & SHRI SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 191/Mum/2015, (निर्धारणवर्ा / Assessment Year: 2011-12) DCITCIR - 3(3)(3) Sicom Investment & R. No. 609, 6TH Floor, Finance Ltd. AayakarBhavan, M. K. Road, 402, Gr. Floor, Solitaire बिधम/ Mumbai. Park IV, Andheri, Vs. Ghatkopar Link Rd, Chakala Andheri(E), Mumbai-400093. स्थायीलेखासं./जीआइआरसं./ PAN/GIR No. AABCS1131L (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant by : Shri V. Justin प्रत्यथीकीओरसे/Respondentby : Shri Jayant Bhatt सुनवाईकीतारीख/ : 28/09/2017 Da…

M/S. Prime Maxi Promotion Services (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal for the assessment year 2011-12 is partly

ITA 5298/DEL/2015[2012-13]Status: DisposedITAT Delhi22 Nov 2017AY 2012-13

Bench: Shri R.S. Syal & Smt Beena Pillai

For Appellant: Shri R.N. Sharma, CAFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SMT BEENA PILLAI, JUDICIAL MEMBER ITA Nos.5297 & 5298/Del/2015 Assessment Years: 2011-12 & 2012-13 Prime Maxi Promotion Services Vs. DCIT, (P) Ltd., Central Circle-8, 206, B-Wing, Second Floor, New Delhi. Naurang House, 21, Kasturba Gandhi Marg, New Delhi. PAN: AAACP6716D (Appellant) (Respondent) Assessee By : Shri R.N. Sharma, CA Department By : Shri Atiq Ahmad, Sr. DR Date of Hearing : 21.11.2017 Date of Pronouncement : 22.11.2017 ORDER PER R.S. SYAL, VP: These two appeals filed by the assessee relat…

M/S. Prime Maxi Promotion Services (P) Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal for the assessment year 2011-12 is partly

ITA 5297/DEL/2015[2011-12]Status: DisposedITAT Delhi22 Nov 2017AY 2011-12

Bench: Shri R.S. Syal & Smt Beena Pillai

For Appellant: Shri R.N. Sharma, CAFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SMT BEENA PILLAI, JUDICIAL MEMBER ITA Nos.5297 & 5298/Del/2015 Assessment Years: 2011-12 & 2012-13 Prime Maxi Promotion Services Vs. DCIT, (P) Ltd., Central Circle-8, 206, B-Wing, Second Floor, New Delhi. Naurang House, 21, Kasturba Gandhi Marg, New Delhi. PAN: AAACP6716D (Appellant) (Respondent) Assessee By : Shri R.N. Sharma, CA Department By : Shri Atiq Ahmad, Sr. DR Date of Hearing : 21.11.2017 Date of Pronouncement : 22.11.2017 ORDER PER R.S. SYAL, VP: These two appeals filed by the assessee relat…

M/S. Delhi Towers Ltd., New Delhi vs. DCIT, New Delhi

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

ITA 5296/DEL/2015[2011-12]Status: DisposedITAT Delhi22 Nov 2017AY 2011-12

Bench: Shri R.S. Syal & Smt Beena Pillaiassessment Year: 2011-12 Delhi Towers Ltd., Vs. Dcit, 1110-Ansal Bhawan, Central Circle-8, New Delhi. New Delhi. Pan: Aaacd0082E (Appellant) (Respondent)

For Appellant: Shri A.T. Panda, AdvocateFor Respondent: Shri Atiq Ahmad, Sr. DR
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : F : NEW DELHI BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SMT BEENA PILLAI, JUDICIAL MEMBER Assessment Year: 2011-12 Delhi Towers Ltd., Vs. DCIT, 1110-Ansal Bhawan, Central Circle-8, New Delhi. New Delhi. PAN: AAACD0082E (Appellant) (Respondent) Assessee By : Shri A.T. Panda, Advocate Department By : Shri Atiq Ahmad, Sr. DR Date of Hearing : 21.11.2017 Date of Pronouncement : 22.11.2017 ORDER PER R.S. SYAL, VP: This appeal by the assessee is directed against the order passed by the CIT(A) on 08.06.2015 in relation to the assessment year 2011-12. 2. The only i…

ACIT, New Delhi vs. M/S. Cellphone Credit & Securities Pvt. Ltd., New Delhi

In the result, appeal filed by the revenue is dismissed

ITA 4336/DEL/2015[2011-12]Status: DisposedITAT Delhi21 Nov 2017AY 2011-12

Bench: Shri G.D. Agarwal & Shri Kuldip Singhin Ita Nos. 4336, 4337, 4338 & 4339/Del/2015 Assessment Years: 2011-12 Acit Vs. Cellphone Credit & Ecurities Central Circle-26, Room No. Pvt. Ltd. A-60, Naraina Indl. 323, 3Rd Floor, Ara Centre, Area, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaacc4101D) Acit Vs. Shyam Basic Infrastructure Central Circle-26, Room No. Project Pvt. Ltd. 323, 3Rd Floor, Ara Centre, A-60, Naraina Indl. Area, Jhandewalan Extn. Phase-1, New Delhi New Delhi (Applicant) (Respondent) (Pan: Aabcs3455R) Acit Vs. Intel Invofin India Pvt. Ltd. Central Circle-26, Room No. A-60, Naraina Indl. Area, 323, 3Rd Floor, Ara Centre, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaaci2366J) Acit Vs. A.T. Invofin India Pvt. Ltd. Central Circle-26, Room No. A-60, Naraina Indl. Area, 323, 3Rd Floor, Ara Centre, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (Pan: Aaaca8248B) Revenue By: Shri U.C. Dubey, Sr. Dr

For Appellant: Shri Arvind Kumar, AdvocateFor Respondent: Shri U.C. Dubey, Sr. DR
Section 14ASection 14A(2)

…ITA Nos. 4436, 4437, 4438 and 4439/Del/2015 Assessment Year: 2011-12 IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH “E” BENCH NEW DELHI) BEFORE SHRI G.D. AGARWAL, PRESIDENT & SHRI KULDIP SINGH, JUDICIAL MEMBER In ITA Nos. 4336, 4337, 4338 and 4339/Del/2015 Assessment Years: 2011-12 ACIT Vs. Cellphone Credit & ecurities Central Circle-26, Room No. Pvt. Ltd. A-60, Naraina Indl. 323, 3rd Floor, ARA Centre, Area, Phase-1, New Delhi Jhandewalan Extn. New Delhi (Applicant) (Respondent) (PAN: AAACC4101D) ACIT Vs. Shyam Basic Infrastructure Central Circle-26, Room No. Project Pvt. Ltd. 323, 3rd Floor, ARA Centre, A-60…

M/S. Bio Med Private Limited, Ghaziabad vs. Addl.CIT, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 6827/DEL/2014[2009-10]Status: DisposedITAT Delhi20 Nov 2017AY 2009-10

Bench: Shri B.P. Jain & Shri Sudhanshu Srivastava[Assessment Year: 2009-10]

For Appellant: Shri Akhilesh Kumar, AdvFor Respondent: Shri S.K. Jain, Sr. DR
Section 143(3)Section 14A

…in ITA NO. 3616/2012 in case of GEBR Pfeiffer p. Ltd. holding that where AO is not satisfied with claim of assessee of no expenditure AO/CIT(A) shall be bound to invoke 14A/Rule 8 D and disallowance is upheld. He also ref. the case of Maxopp inv. Reported in 347 ITR 272 (DEL.). Ld. CIT(A) also refuted the claim of no expenditure as he felt that investment requires conscious managerial decision or expert advise with incurrence of salaries and hence claim is against the principle of preponderance of probability. 8. The ld. AR demonstrated at length before us that factually no expenditure is incurred in earning th…

M/S Eltek Sgs Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee is allowed

ITA 1499/DEL/2013[2008-09]Status: DisposedITAT Delhi13 Nov 2017AY 2008-09

Bench: Shri. Amit Shukla & Shri Waseem Ahmed

For Appellant: Shri Anil Bhalla, C.AFor Respondent: Shri Anshu Prakash, D.R
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”, NEW DELHI BEFORE SHRI. AMIT SHUKLA, JUDICIAL MEMBER & SHRI WASEEM AHMED, ACCOUNTANT MEMBER I.T.A. No.1499/DEL/2013 Assessment Year:2008-09 Eltek SGS Pvt. Ltd v. DCIT F-225-A, Sainik Farm Circle 11(1) New Delhi New Delhi TAN/PAN:AAACE2920L (Appellant) (Respondent) Appellant by: Shri Anil Bhalla, C.A. Respondent by: Shri Anshu Prakash, D.R. Date of hearing: 26 09 2017 Date of pronouncement: 13 11 2017 O R D E R PER AMIT SHUKLA, J.M.: The aforesaid appeal has been filed by the assessee against impugned order dated 21/1/2013, passed by the ld. CIT (Appeals)-…