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

Disallowance under Section 14A is not automatic and requires the Assessing Officer to record satisfaction before applying Rule 8D. Only investments yielding exempt income are considered for disallowance, irrespective of their strategic nature.

How many judgments cite Maxopp Investment Ltd. v. CIT?

1,596 judgments on BharatTax cite Maxopp Investment Ltd. v. CIT (402 ITR 640), spanning 2016 to 2026.

Which sections of the Income Tax Act does Maxopp Investment Ltd. v. CIT come up under?

It is most often cited in judgments turning on Section 14A, Section 143(3), Section 115JB, Section 8D, Section 37(1), Section 1961.

Maxopp Investment Ltd. v. CIT (402 ITR 640)

Lok Prakashan Limited, Ahmedabad vs. ACIT, Central Circle-1(3), Ahmedabad

The appeal of the Revenue is dismissed accordingly

ITA 291/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad27 Sept 2024AY 2018-19

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

For Appellant: Shri Vartik Choksi, ARFor Respondent: Shri Prathvi Raj Meena, CIT-DR

Section 143(3)Section 14ASection 250

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “डी“,अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD "ी टी.आर. से""ल कुमार, "ाियक सद" एवं "ी मकरंद वसंत महादेवकर, लेखा सद" के सम#। ] ] BEFORE SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 respectively Lok Prakashan Limited The ACIT बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) v/s. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./PAN: AAACL 2742 F…

Lok Prakashan Limited, Ahmedabad vs. ACIT, Central Circle-1(3), Ahmedabad

The appeal of the Revenue is dismissed accordingly

ITA 290/AHD/2023[2017-18]Status: DisposedITAT Ahmedabad27 Sept 2024AY 2017-18

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 Respectively Lok Prakashan Limited The Acit बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) V/S. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./Pan: Aaacl 2742 F

For Appellant: Shri Vartik Choksi, ARFor Respondent: Shri Prathvi Raj Meena, CIT-DR

Section 143(3)Section 14ASection 250

…आयकर अपीलीय अिधकरण, अहमदाबाद "ायपीठ “डी“,अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D ” BENCH, AHMEDABAD "ी टी.आर. से""ल कुमार, "ाियक सद" एवं "ी मकरंद वसंत महादेवकर, लेखा सद" के सम#। ] ] BEFORE SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER आयकर अपील सं /ITA Nos.290 & 291/Ahd/2023 िनधा"रण वष" /Assessment Years : 2017-18 & 2018-19 respectively Lok Prakashan Limited The ACIT बनाम/ Gujarat Samachar Bhavan Central Circle-1(3) v/s. J.P. Chowk, Khanpur Ahmedabad – 380 009 Ahmedabad – 380 001 (अपीलाथ%/ Appellant) ('( यथ%/ Respondent) "थायी लेखा सं./PAN: AAACL 2742 F…

Condis India Healthcare Private Limited, Trivandrum vs. ACIT Circle 1(1), Trivandrum

In the result, the appeals ITA Nos

ITA 356/COCH/2023[2015-16]Status: DisposedITAT Cochin27 Sept 2024AY 2015-16

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Smt. Girly Albert, Sr. D.R

Section 10(34)Section 139Section 14A

…iate in the given facts and circumstances. Accordingly, we hold that the AO has made disallowance without recording satisfaction qua the books of account maintained by the assessee. The Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC) has held that proper satisfaction ought to have been recorded by the AO while making the disallowance Condis India Healthcare Pvt. Ltd. u/s 14A of the Act. The relevant funding of the Hon’ble Supreme Court reads as under: - “41. Having regard to the language of Section 14A(2) of the Act, read with Rule 8D of the Rules, we also make it clear…

Condis India Healthcare Private Limited, Trivandrum vs. ACIT Circle 1(1), Trivandrum

In the result, the appeals ITA Nos

ITA 355/COCH/2023[2014-15]Status: DisposedITAT Cochin27 Sept 2024AY 2014-15

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Smt. Girly Albert, Sr. D.R

Section 10(34)Section 139Section 14A

…iate in the given facts and circumstances. Accordingly, we hold that the AO has made disallowance without recording satisfaction qua the books of account maintained by the assessee. The Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC) has held that proper satisfaction ought to have been recorded by the AO while making the disallowance Condis India Healthcare Pvt. Ltd. u/s 14A of the Act. The relevant funding of the Hon’ble Supreme Court reads as under: - “41. Having regard to the language of Section 14A(2) of the Act, read with Rule 8D of the Rules, we also make it clear…

Condis India Healthcare Private Limited, Trivandrum vs. ACIT Circle 1(1), Trivandrum

In the result, the appeals ITA Nos

ITA 354/COCH/2023[2013-14]Status: DisposedITAT Cochin27 Sept 2024AY 2013-14

Bench: Shri Waseem Ahmed & Shri Soundararajan K.

For Appellant: Shri Rajakannan, AdvocateFor Respondent: Smt. Girly Albert, Sr. D.R

Section 10(34)Section 139Section 14A

…iate in the given facts and circumstances. Accordingly, we hold that the AO has made disallowance without recording satisfaction qua the books of account maintained by the assessee. The Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC) has held that proper satisfaction ought to have been recorded by the AO while making the disallowance Condis India Healthcare Pvt. Ltd. u/s 14A of the Act. The relevant funding of the Hon’ble Supreme Court reads as under: - “41. Having regard to the language of Section 14A(2) of the Act, read with Rule 8D of the Rules, we also make it clear…

JCIT (OSD) Circle-2, Trichy vs. The Karur Vysya Bank Ltd., Karur

In the result, appeal filed by the Revenue for assessment year

ITA 635/CHNY/2020[2017-18]Status: DisposedITAT Chennai20 Sept 2024AY 2017-18

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकर अपील सं./Ita No.: 620/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of Income M/S. Karur Vysya Bank, V. Tax, Finance &Control Dept., Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 635/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. Karur Vysya Bank, The Joint Commissioner Of V. Finance &Control Dept., Income Tax, Erode Road, Circle -2, Karur – 639 002. No.44, Williams Road, [Pan: Aaact-3373-J] Contanment, Trichy – 620 001. (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Ananthan, Ca & Smt. R. Lalitha, Ca Department By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 05.08.2024 घोषणा क" तारीख/Date Of Pronouncement : 20.09.2024 आदेश /O R D E R Per S. R. Raghunatha:

For Appellant: Shri. Ananthan, CA & Smt. R. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT

Section 145Section 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 36(2)(v)

…(Appeals), Trichy is contrary to the law, facts and circumstances of the case. 2. The CIT(A) erred in deleting the addition made u/s 14A of the Act r.w. Rule 8D of the Rules relying on the decision of Hon'ble Supreme Court in the case of Maxopp Investment Ltd 402 ITR 640 (SC). 3. The CIT(A) failed to appreciate that Hon'ble Supreme Court in the case of Maxopp Investment Ltd 402 ITR 640 (SC) agreed with applicability of section 14A of the Act based on theory of apportionment of expenditure between taxable and non-taxable income as held in the case of Walfort Share & Stock Brokers (P) Ltd, when shares are held as s…

ACIT 14(I)(2), Mumbai vs. Godrej Properties Limited, Mumbai

ITA 3880/MUM/2024[2017-18]Status: DisposedITAT Mumbai20 Sept 2024AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyal1. Ita No. 3880/Mum/2024 (A.Y.2017-18)

For Appellant: Shri P. Suresh, Ld. DRFor Respondent: Shri Jeet Kamdar, Ld. AR

Section 14ASection 250

…onfirming the order of the CIT(A) is not perverse when it specifically disapproved the method of computation of disallowance u/s. 14A of the Act adopted by the CIT(A)? 6. The Apex Court in Maxopp Investment Ltd. v. CIT [2018] 91 taxmann.com 154/254 Taxman 325/402 ITR 640 relied upon by Mr. Sharma has held that as per Section 14A of the Act inserted by Finance (Amendment) Act, 2001, if expenditure is incurred on earning the dividend income, that much of the expenditure which is attributable to the dividend income has to be disallowed and cannot be treated as business expenditure. The Apex Court held that as per se…

Rajdeep Buildcon Pvt Ltd, Ahmednagar vs. Dy. Commissioner of Income Tax, Central Circle 1(2), Pune

In the result, the appeal filed by the assessee in ITA

ITA 469/PUN/2022[2013-14]Status: DisposedITAT Pune18 Sept 2024AY 2013-14

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari

Section 132Section 139Section 143(3)Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.467 to 469/PUN/2022 िनधा"रण वष" / Assessment Years: 2011-12 to 2013-14 Rajdeep Buildcon Private Vs. DCIT, Central Circle-1(2), Limited, Pune. Rajdeep House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by th…

Rajdeep Buildcon Privat Limited, Ahmednagar vs. Dy. Commissioner of Income Tax, Central Circle 1(2), Pune

In the result, the appeal filed by the assessee in ITA

ITA 468/PUN/2022[2012-13]Status: DisposedITAT Pune18 Sept 2024AY 2012-13

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari

Section 132Section 139Section 143(3)Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.467 to 469/PUN/2022 िनधा"रण वष" / Assessment Years: 2011-12 to 2013-14 Rajdeep Buildcon Private Vs. DCIT, Central Circle-1(2), Limited, Pune. Rajdeep House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by th…

Rajdeep Buildcom Private Limited, Ahmednagar vs. Deputy Commissioner of Income Tax, Central Circle - 1(2), Pune

In the result, the appeal filed by the assessee in ITA

ITA 467/PUN/2022[2011-12]Status: DisposedITAT Pune18 Sept 2024AY 2011-12

Bench: SHRI R. K. PANDA (Vice President), SHRI VINAY BHAMORE (Judicial Member)

For Appellant: Smt. Deepa KhareFor Respondent: Shri Ajay Kumar Keshari

Section 132Section 139Section 143(3)Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA Nos.467 to 469/PUN/2022 िनधा"रण वष" / Assessment Years: 2011-12 to 2013-14 Rajdeep Buildcon Private Vs. DCIT, Central Circle-1(2), Limited, Pune. Rajdeep House, Near Bhide Hospital, Savedi, Ahmednagar- 414003. PAN : AAACR8605D Appellant Respondent Assessee by : Smt. Deepa Khare Revenue by : Shri Ajay Kumar Keshari Date of hearing : 25.06.2024 Date of pronouncement : 18.09.2024 आदेश / ORDER PER VINAY BHAMORE, JM: The above captioned three appeals filed by th…

DCIT CC 1(1), Mumbai vs. Edel Finance Company Ltd., Mumbai

In the result, appeal of the revenue is partly allowed, and cross objection of the assessee is dismissed as withdrawn

ITA 3025/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Sept 2024AY 2018-19

Bench: Shri Anikesh Banerjee () & Shri Girish Agrawal ()

Section 10(34)Section 143(3)Section 144BSection 14ASection 250Section 94(7)

…1 ITA No.3025 /Mum/2024 & CO 134/Mum/2024 Edel Finance Company Limited IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE (JUDICIAL MEMBER) AND SHRI GIRISH AGRAWAL (ACCOUNTANT MEMBER) ITA No.3025 /Mum/2024 (Assessment Year: 2018-19) DCIT, CC 1(1), Mumbai vs Edel Finance Company Ltd 905, 9th Floor, Pratishtha Bhavan Edelwiess House, Off CST Road M.K. Road, Mumbai Kalina, Santacruz(East), Mumbai- 400 098 PAN: AAFCA9652C APPELLANT RESPONDENT CO.No.134/Mum/2024 (Arising out of ITA No.3025 /Mum/2024) (Assessment Year: 2018-19) Edel Finance Company Ltd vs DCIT, CC 1(1), Mumb…

Deputy Commissioner of Income Tax, Circle-1(1), Chandigarh vs. Essix Biosciences Limited, Manimajra

In the result, the appeal is dismissed and the

ITA 347/CHANDI/2024[2018-19]Status: DisposedITAT Chandigarh09 Sept 2024AY 2018-19

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

For Appellant: Shri Ved Jain, AdvocateFor Respondent: Shri Rohit Sharma, CIT-DR

Section 14Section 14A

…आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ , च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘A’ CHANDIGARH BEFORE: SHRI A.D.JAIN, VICE PRESIDENT AND SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 347/CHD/2024 "नधा"रण वष" / Assessment Year : 2018-19 The DCIT, Essix Biosciences Ltd., बनाम Circle 1(1), SCO 850, Shivalik Enclave, VS Chandigarh. NAC, Mani Majra, Chandigarh. "थायी लेखा सं./PAN /TAN No: AAACE0210F अपीलाथ"/Appellant ""यथ"/Respondent & C.O. No.17/CHD/2024 in आयकर अपील सं./ ITA No. 347/CHD/2024 "नधा"रण वष" / Assessment Year : 2018-19 Essix Biosciences Ltd., The DCIT, बनाम SCO 85…

Pee Kay Vanijya Pvt. Ltd., Kolkata vs. DCIT, Cir. 7(1), Kolkata

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

ITA 851/KOL/2024[2017-18]Status: DisposedITAT Kolkata09 Sept 2024AY 2017-18

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Akkal Dudhwewala, ARFor Respondent: S.B. Chakraborthy, JCIT, Sr. DR

Section 143(3)Section 14ASection 234BSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA BEFORE SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Pee Kay Vanijya Private Limited, DCIT, Circle-7(1), Kolkata, 7C, Kiran Shankar Roy Road, Aayakar Bhawan, P-7, Hasting Chambers, 4th Floor, Vs Chowringhee Square, Kolkata - 700001 Kolkata - 700069 (PAN: AABCP6488P) (Appellant) (Respondent) Present for: Appellant by : Akkal Dudhwewala, AR Respondent by : S.B. Chakraborthy, JCIT, Sr. DR Date of Hearing : 20.08.2024 Date of Pronouncement : 09.09.2024 O R D E R PER RAKESH MISHRA, ACCOUNTANT MEMB…