Maxopp Investment Ltd. v. CIT

402 ITR 640Supreme Court of India2018#21 most cited

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.

1,596

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2016 to 2026.

Also referred to as

Maxopp Investment Ltd v CIT · Maxopp SC 2018 · Section 14A disallowance · Rule 8D application · expenditure for exempt income · only dividend bearing investments · satisfaction Section 14A(2) · strategic investment disallowance · disallowance not automatic · 402 ITR 640

Also reported as

91 Taxmann.com 154254 Taxmann 325301 CTR 489

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 8DSection 37(1)Section 1961Section 250Section 143(2)
Read the full judgment

Issues it is cited on

section 14a(1)section 14a(2)strategic investmentdisallowance under section 14adisallowance u/s 14asection 10(34)section 14asection 36(1)(vii)section 40a(2)enduring benefitbook profitssection 115j

Judgments citing Maxopp Investment Ltd. v. CIT

DCIT Central Circle-28, New Delhi vs. Jindal Itf Limited, New Delhi

Accordingly, the appeal and application are dismissed

ITA 1776/DEL/2023[2012-13]Status: DisposedITAT Delhi08 Jul 2024AY 2012-13

Bench: Shri G. S. Pannu & Ms. Madhumita Royi.T.A. No. 1776/Del/2023 (Assessment Year : 2012-13) Dcit Vs. M/S. Jindal Itf Limited Central Circle – 28 28, Shivaji Marg, New Delhi New Delhi-110 015 Pan: Aabcj 9263 C (Appellant) .. (Respondent)

For Appellant: Shri Vinod Kumar Bindal, CAFor Respondent: Ms. Parul Singh, Sr. D.R
Section 143(3)Section 14ASection 14A(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘C’, NEW DELHI BEFORE SHRI G. S. PANNU, VICE PRESIDENT AND MS. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No. 1776/Del/2023 (Assessment Year : 2012-13) DCIT Vs. M/s. Jindal ITF Limited Central Circle – 28 28, Shivaji Marg, New Delhi New Delhi-110 015 PAN: AABCJ 9263 C (Appellant) .. (Respondent) Appellant by : Shri Vinod Kumar Bindal, CA Ms. Rinky Sharma, Adv. Respondent by : Ms. Parul Singh, Sr. D.R. Date of Hearing 26.06.2024 08.07.2024 Date of Pronouncement O R D E R PER MS. MADHUMITA ROY – JUDICIAL MEMBER : The instant appeal filed by the Revenue is direct…

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Radha Madhav Investments Private Limited, Mumbai

In the result the appeal is partly allowed

ITA 3341/MUM/2023[2017-18]Status: DisposedITAT Mumbai04 Jul 2024AY 2017-18
Section 10Section 10(34)Section 115JSection 143(1)Section 143(2)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH MUMBAI BEFORE: SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER Dy. Commissioner of Vs. Radha Madhav Income Tax Circle– Investments Pvt. Ltd. 3(3)(1), 122, Maker Chambers III, Room no. 609, Nariman Point, Aaykar Bhavan, Mumbai–400021 M.K. Road, Churchgate, Mumbai–400020 PAN/GIR No. AAACR4063M (Appellant) .. (Respondent) Assessee by Shri. Madhur Agrawal Revenue by Ms. Mahita Nair, Sr. AR Date of Hearing 06/05/2024 Date of Pronouncement 04/07/2024 आदेश / O R D E R PER SUNIL KUMAR SINGH (J.M): 1. This appeal is directed against th…

The ACIT, Circle-2(1)(2), Ahmedabad vs. Kunvarji Finance Pvt. Ltd., Ahmedabad

ITA 2147/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad02 Jul 2024AY 2014-15

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokar, Accountnat Member Assessment Year : 2014-15 The Acit Kunvarji Finance Pvt.Ltd. Circle-2(1)(2) Vs Block B, 1St Floor Ahmedabad Siddhi Vinayak Tower Off S.G. Highway Mouje Makarba, Ahmedabad Pan: Aaack 8759 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Bandish Soparkar, Ar Revenue By : Smt. Malarkodi R., Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 20/06/2024 घोषणा क" तार"ख /Date Of Pronouncement: 02/07/2024 आदेश/O R D E R Per Shri Makarand V. Mahadeokar, Am:

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Smt. Malarkodi R., Sr.DR
Section 106Section 143(1)Section 143(3)Section 14A

…expenditure incurred and the earning of exempt income. It held that mere presumptions cannot form the basis of disallowance under section 14A. The Court referred to the judgment of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640 (SC), where it was held that the primary condition for applicability of Section 14A is that the expenditure should have been actually incurred in relation to exempt income. The Court also noted that the AO must record reasons for not being satisfied with the correctness of the claim of the assessee regarding the expenditure incurred in relation t…

The DCIT, 2(1), Indore vs. M/S. Treasure World Developers Pvt. Ltd., Indore

In the result both the Cross Appeals are dismissed

ITA 439/IND/2014[2009-10]Status: DisposedITAT Indore27 Jun 2024AY 2009-10

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Treasure World Acit 4(1), बनाम/ Developers Pvt. Ltd, Indore Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Assessee/Appellant) (Revenue/Respondent) Acit 4(1), M/S. Treasure World बनाम/ Indore Developers Pvt. Ltd, Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Revenue/Appellant) (Assessee/Respondent)

Section 14ASection 178

…ore Section 14A of the Act is not attracted to the extent of expenditure incurred for business purpose. He has submitted that this issue of investment made in subsidiary company is covered by the Hon’ble Supreme Court in case of Maxopp Investment Ltd Vs. CIT 402 ITR 640. He has relied upon the order of A.O. Since nobody appeared on behalf of the assessee therefore, we do not have any privilege to hear the argument of the assessee. 5. We have considered the submissions of the CIT-DR and carefully perused the orders of the A.O as well as the impugned order of CIT(A). The A.O has given the details of availabilit…

M/S. Treasure World Developers Pvt. Ltd., Indore vs. The ACIT 2(1), Indore

In the result both the Cross Appeals are dismissed

ITA 398/IND/2014[2009-10]Status: DisposedITAT Indore27 Jun 2024AY 2009-10

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Treasure World Acit 4(1), बनाम/ Developers Pvt. Ltd, Indore Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Assessee/Appellant) (Revenue/Respondent) Acit 4(1), M/S. Treasure World बनाम/ Indore Developers Pvt. Ltd, Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Revenue/Appellant) (Assessee/Respondent)

Section 14ASection 178

…ore Section 14A of the Act is not attracted to the extent of expenditure incurred for business purpose. He has submitted that this issue of investment made in subsidiary company is covered by the Hon’ble Supreme Court in case of Maxopp Investment Ltd Vs. CIT 402 ITR 640. He has relied upon the order of A.O. Since nobody appeared on behalf of the assessee therefore, we do not have any privilege to hear the argument of the assessee. 5. We have considered the submissions of the CIT-DR and carefully perused the orders of the A.O as well as the impugned order of CIT(A). The A.O has given the details of availabilit…

Supreme Nonwovens Private Limited, Mumbai vs. ACIT, Mumbai

In the result, appeal in ITA No

ITA 235/MUM/2024[2017-18]Status: DisposedITAT Mumbai26 Jun 2024AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri K. Gopal, Advocate& Ms. NehaFor Respondent: Shri Dinesh A Chourasia – Sr.AR
Section 139(1)Section 143(3)Section 14ASection 14A(3)Section 250

…d.AR further argued that no satisfaction was recorded by the Ld.AO.The disallowance U/s 14A was in mechanical manner. The disallowance was made which is against the direction of the Hon’ble Supreme Court in the case of Maxopp Investments Ltd vs. CIT, New Delhi402 ITR 640 (SC). The Hon’ble Supreme Court has qualified that the satisfaction is to be recorded by the ld. AO to show that the voluntary disallowance of expenditure made by the assessee on the expenditure incurred for earning exempt income is not in order. The Ld.Assessing Officer, in such circumstances, is obliged to assign reason for him not being satisf…

DCIT 3(3)(1), Mumbai vs. Sp Port Maintenance Private Limited, Mumbai

ITA 3896/MUM/2023[2018-19]Status: DisposedITAT Mumbai25 Jun 2024AY 2018-19

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan

Section 115JSection 142(1)Section 143(2)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE MS. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER ITA NO. 3895/MUM/2023 (A.Y: 2017-18) AND ITA NO. 3896/MUM/2023 (A.Y: 2018-19) DCIT 3(3)1 Vs. SP Port Maintenance Private Limited Room No. 522, Aaykar Bhavan, M. K. Road, Churchgate, Mumbai – 400 020. 41/44, Shapoorji Pallonji Centre Mumbai, Colaba S.O, Mumbai - 400 005. PAN: AAXCS6219B (Appellant) (Respondent) Assessee Represented by Shri. Dharan V. Gandhi Department Represented by Shri. G. Santosh Kumar Date of conclusion of Hearing 13.06.2024 Date of Pronouncemen…

DCIT 3(3)(1), Mumbai vs. Sp Port Maintenance Private Limited, Mumbai

In the result, appeal filed by the revenue are dismissed in the above terms

ITA 3895/MUM/2023[2017-18]Status: DisposedITAT Mumbai25 Jun 2024AY 2017-18

Bench: Ms. Padmavathy S. & Shri. Raj Kumar Chauhan & Dcit 3(3)1 Vs. Sp Port Maintenance Private Room No. 522, Aaykar Bhavan, M. Limited K. Road, Churchgate, Mumbai – 41/44, Shapoorji Pallonji 400 020. Centre Mumbai, Colaba S.O, Pan: Aaxcs6219B Mumbai – 400 005. (Appellant) (Respondent)

Section 115JSection 142(1)Section 143(2)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “G”, MUMBAI BEFORE MS. PADMAVATHY S., ACCOUNTANT MEMBER AND SHRI. RAJ KUMAR CHAUHAN, JUDICIAL MEMBER AND DCIT 3(3)1 Vs. SP Port Maintenance Private Room No. 522, Aaykar Bhavan, M. Limited K. Road, Churchgate, Mumbai – 41/44, Shapoorji Pallonji 400 020. Centre Mumbai, Colaba S.O, PAN: AAXCS6219B Mumbai – 400 005. (Appellant) (Respondent) Assessee Represented by : Shri. Dharan V. Gandhi Department Represented by : Shri. G. Santosh Kumar Date of conclusion of Hearing : 13.06.2024 Date of Pronouncement : 25.06.2024 O R D E R PER RAJ KUMAR CHAUHAN (J.M.): 1. The appe…

ITO Ward 27(2), New Delhi vs. Urban Land Management Pvt. Ltd., New Delhi

The appeal of the Revenue is dismissed

ITA 5815/DEL/2019[2016-17]Status: DisposedITAT Delhi04 Jun 2024AY 2016-17

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2016-17 Income-Tax Officer, Vs M/S Urban Land Management Ward-27(2), New Delhi. Pvt. Ltd., 22, Dda Flats, Shivalik Road, Malviya Nagar, New Delhi-110017. Pan: Aabcu4986D (Appellant) (Respondent) Assessee By : Dr. Rakesh Gupta, Adv.; S/Shri Shrey Jain, Deepesh Garg & Somil Agarwal, Advocates Department By : Ms. Sapna Bhatia, Cit(Dr) & Shri Amit Katoch, Sr. Dr Date Of Hearing : 05.04.2024 Date Of Pronouncement : 04.06.2024 O R D E R Per Anubhav Sharma, Jm: The Revenue Has Come In Appeal Against The Order Dated 08.04.2019, For The Assessment Year 2016-17, Passed By The Commissioner Of Income Tax (Appeals)- 9, New Delhi (Hereinafter Referred As “Learned First Appellate Authority” Or In Short “Faa”), In Appeal No. 10326/18-19, Arising Out Of Assessment Order Dated

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Ms. Sapna Bhatia, CIT(DR) &
Section 143(1)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “H”: NEW DELHI BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER Assessment Year: 2016-17 Income-tax Officer, Vs M/s Urban Land Management Ward-27(2), New Delhi. Pvt. Ltd., 22, DDA Flats, Shivalik Road, Malviya Nagar, New Delhi-110017. PAN: AABCU4986D (Appellant) (Respondent) Assessee by : Dr. Rakesh Gupta, Adv.; S/Shri Shrey Jain, Deepesh Garg, & Somil Agarwal, Advocates Department by : Ms. Sapna Bhatia, CIT(DR) & Shri Amit Katoch, Sr. DR Date of hearing : 05.04.2024 Date of pronouncement : 04.06.2024 O R D E R PER ANUBHA…

Emerald Company Pvt. Ltd., Kolkata vs. DCIT, Cir. 8(1), Kolkata

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

ITA 252/KOL/2024[2015-16]Status: DisposedITAT Kolkata03 Jun 2024AY 2015-16

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Section 143(3)Section 14ASection 14A(2)Section 250

…uantum of disallowance u/s 14A of the Act done by the assessee, was not acceptable. It has been stated that in case such satisfaction has not been recorded then it would amount to an incurable defect following the case of Maxopp Investment Ltd. vs. CIT (2018) 402 ITR 640 (SC). v) It has been contended that u/s 14A of the Act “Expenditure” incurred in relation to exempt income is required to be disallowed and not the “Business loss”. For this proposition, he has relied on the case of Navin Bharat Industries Ltd. vs. DCIT (ITA No. 2201/MUM/1994 dated 10.03.2004). vi) Lastly, it has been averred that under no circum…

ITO, Ward, Palampur vs. The Kangra Central Cooperative Bank Limited, Kangra

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

ITA 583/CHANDI/2022[2018-19]Status: DisposedITAT Chandigarh31 May 2024AY 2018-19

Bench: Us Is Filed Under Section 253 Of The Income Tax Act, As Amended From Time To Time. The Respondent Is A Cooperative Bank.

For Appellant: Shri Ashwani Kumar, C.A and Ms. Deepali Aggarwal, C.AFor Respondent: Smt. Kusum Bansal, CIT, DR
Section 14ASection 250Section 253

…be considered for disallowance irrespective of the fact whether any such income has been earned during the Financial Year or not, as confirmed by the Hon'ble Apex Court in the matter of Maxopp investment Ltd. Vs. Commissioner of Income Tax, reported as (2018) 402 ITR 640 (SC)? v) Whether the First Appellate Authority is right in deleting the disallowance under Section 14A of the Income Tax Act, 1961 read with Rule 8D(2)(ii) of the Income Tax Rules, 1962 and implicitly declaring the Circular No. 5 of 2014 dated 11.02.2014 illegal? vi) Whether the order passed by the First Appellate Authority deleting the disallowa…

ACIT-3(1)(1), Mumbai vs. Edelcap Securities Limited, Mumbai

In the result, appeal of Revenue as well as cross objection of the assessee are dismissed

ITA 4296/MUM/2023[2018-19]Status: DisposedITAT Mumbai31 May 2024AY 2018-19

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘E‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER ACIT-3(1)(1) Vs. Edelcap Securities Room No.607, Aayakar Limited Bhavan 4th Floor, Edelweiss M.K. Road House, Maharashtra- 400 020 Off. CST Road Kalina Santacruz (E) Mumbai – 400 098 PAN/GIR No.AABCE9000A (Appellant) .. (Respondent) CO No.30/Mum/2024 (Arising out of ITA No.4296/Mum/2023) (Assessment Year :2018-19) Edelcap Securities Vs. ACIT-3(1)(1) Limited Room No.607, Aayakar 4th Floor, Edelweiss Bhavan House, M.K. Road Off. CST Road Maharashtra- 400 020 Kalina Santa…

ACIT, Corporate Circle-3(1), Chennai vs. M/S Tvs Motor Company Limited, Chennai

In the result the appeal of the Revenue is dismissed

ITA 6/CHNY/2023[2016-17]Status: DisposedITAT Chennai29 May 2024AY 2016-17

Bench: Shri Mahavir Singh & Shri Amitabh Shuklaआयकर अपील िं./Ita No. 06/Chny/2023 निर्धारण वर्ा /Assessment Year: 2016-17. The Asst. Commissioner Of M/S. Tvs Motor Company Ltd., Income Tax, Vs. Chaitanya, No.12, Corporate Circle-3(1), Khader Nawaz Khan Road, Chennai. Nungambakkam, Chennai – 600 006. [Pan: Aaacs7032B] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलधर्थी की ओर से/ Assessee By : Shri Vikaram Vijayaraghavan, Advocate प्रत्यर्थी की ओर से /Revenue By : Shri A. Sasikumar, Cit ुनवाई की तारीख/Date Of Hearing : 01.05.2024 घोषणा की तारीख /Date Of Pronouncement : 29.05.2024 आदेश / O R D E R

For Appellant: Shri Vikaram VijayaraghavanFor Respondent: Shri A. Sasikumar, CIT
Section 12Section 153(1)Section 250(6)Section 9Section 92C

…आयकर अपीलीय अधिकरण, ‘डी’ न्यायपीठ, चेन्नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI श्री महावीर स िंह, उपाध्यक्ष एविं श्री अमिताभ शुक्ला, लेखा दस्य के मक्ष BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील िं./ITA No. 06/Chny/2023 निर्धारण वर्ा /Assessment Year: 2016-17. The Asst. Commissioner of M/s. TVS Motor Company Ltd., Income Tax, Vs. Chaitanya, No.12, Corporate Circle-3(1), Khader Nawaz Khan Road, Chennai. Nungambakkam, Chennai – 600 006. [PAN: AAACS7032B] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलधर्थी की ओर से/ Assessee by : Shri Vikaram…

Titan Company Limited 9Earstwhile Known As Titan Industries Limited), Krishnagiri vs. ACIT Ltu 1, Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 518/CHNY/2018[2009-10]Status: DisposedITAT Chennai29 May 2024AY 2009-10

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri T. Surya Narayana, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)

…आयकर अपीलीय अिधकरण,‘डी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी अिमताभ शु"ला, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 518, 505, 506 & 507/CHNY/2018 िनधा"रण वष"/Assessment Years:2009-10, 2010-11, 2011-12 & 2012-13 Titan Company Ltd., 1. The Assistant (Erstwhile known as Titan Vs. Commissioner of Income Tax, Industries Ltd.,) Circle III(2), #3, SIPCOT Indl. Complex, Chennai. Hosur, Krishnagiri – 635 126. 2. The Joint / Assistant Commissioner of Income Tax, Large Taxpayer…

Titan Company Limited 9Earstwhile Known As Titan Industries Limited), Krishnagiri vs. ACIT Ltu 1, Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 507/CHNY/2018[2012-13]Status: DisposedITAT Chennai29 May 2024AY 2012-13

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri T. Surya Narayana, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)

…आयकर अपीलीय अिधकरण,‘डी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी अिमताभ शु"ला, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 518, 505, 506 & 507/CHNY/2018 िनधा"रण वष"/Assessment Years:2009-10, 2010-11, 2011-12 & 2012-13 Titan Company Ltd., 1. The Assistant (Erstwhile known as Titan Vs. Commissioner of Income Tax, Industries Ltd.,) Circle III(2), #3, SIPCOT Indl. Complex, Chennai. Hosur, Krishnagiri – 635 126. 2. The Joint / Assistant Commissioner of Income Tax, Large Taxpayer…

Titan Company Limited 9Earstwhile Known As Titan Industries Limited), Krishnagiri vs. ACIT Ltu 1, Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 506/CHNY/2018[2011-12]Status: DisposedITAT Chennai29 May 2024AY 2011-12

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri T. Surya Narayana, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)

…आयकर अपीलीय अिधकरण,‘डी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी अिमताभ शु"ला, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 518, 505, 506 & 507/CHNY/2018 िनधा"रण वष"/Assessment Years:2009-10, 2010-11, 2011-12 & 2012-13 Titan Company Ltd., 1. The Assistant (Erstwhile known as Titan Vs. Commissioner of Income Tax, Industries Ltd.,) Circle III(2), #3, SIPCOT Indl. Complex, Chennai. Hosur, Krishnagiri – 635 126. 2. The Joint / Assistant Commissioner of Income Tax, Large Taxpayer…

Titan Company Limited 9Earstwhile Known As Titan Industries Limited), Krishnagiri vs. ACIT Ltu 1, Chennai

In the result, the appeals filed by the assessee in ITA Nos

ITA 505/CHNY/2018[2010-11]Status: DisposedITAT Chennai29 May 2024AY 2010-11

Bench: Shri Mahavir Singhand Shri Amitabh Shukla

For Appellant: Shri T. Surya Narayana, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)

…आयकर अपीलीय अिधकरण,‘डी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी अिमताभ शु"ला, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.: 518, 505, 506 & 507/CHNY/2018 िनधा"रण वष"/Assessment Years:2009-10, 2010-11, 2011-12 & 2012-13 Titan Company Ltd., 1. The Assistant (Erstwhile known as Titan Vs. Commissioner of Income Tax, Industries Ltd.,) Circle III(2), #3, SIPCOT Indl. Complex, Chennai. Hosur, Krishnagiri – 635 126. 2. The Joint / Assistant Commissioner of Income Tax, Large Taxpayer…

Jaypee Infra Venutres Private Limited, Noida vs. DCIT, Circle13(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 1484/DEL/2023[2014-15]Status: DisposedITAT Delhi22 May 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Vimal Kumarjaypee Infra Ventures Pvt. Ltd, Vs. Dcit, Sector-128, Noida Circle-13(2), New Delhi (Appellant) (Respondent) Pan: Aaccj5628G Assessee By : Shri V. K. Garg, Adv Shri Parveen Kumar, Ca Revenue By: Shri Sandeep Kr. Mishra, Sr. Dr Date Of Hearing 13/05/2024 Date Of Pronouncement 22/05/2024

For Appellant: Shri V. K. Garg, AdvFor Respondent: Shri Sandeep Kr. Mishra, Sr. DR
Section 115JSection 143(3)Section 14ASection 14A(2)

…he accounts of the assessee. No such satisfaction in the manner acceptable to law had been recorded in the instant case by the ld AO. This view of ours is further fortified by the decision of Hon’ble Supreme Court in the case of Maxopp Investments reported in 402 ITR 640 (SC). Hence, we have no hesitation to delete the disallowance made u/s 14A of the Act both under normal provisions of the Act as well as in the computation of book profits u/s 115JB of the Act. Accordingly, the grounds raised by the assessee are allowed. Jaypee Infra Ventures Pvt. Ltd In the result, the appeal of the assessee is allowed. 6. Orde…

Indiabulls Real Estate Limited, New Delhi vs. DCIT Central Circle 12(1), New Delhi

In the result, the appeal of the assessee is allowed

ITA 5954/DEL/2019[2013-14]Status: DisposedITAT Delhi17 May 2024AY 2013-14

Bench: Shri M. Balaganesh & Shri Vimal Kumarm/S. Indiabulls Real Estate Ltd, Vs. Dcit, M-62 & 63, First Floor, Central Circle-12(1), Connaught Place, New Delhi New Delhi (Appellant) (Respondent) Pan:Aabci5194F

For Appellant: Shri Lalit Mohan, CAFor Respondent: Shri Sandip Kumar Mishra, Sr. DR
Section 143(3)Section 14ASection 14A(2)

…which does not form part of the total income." 8. The Id. DR argued relying on the following case judicial pronouncement and submitted the arguments in writing. 1. Maxopp Investment Ltd. Vs CIT [2018] 91 taxmann.com 154 (SiC)/[2018] 254 Taxman 325 (SC)/[2018] 402 ITR 640 (SC)/[2018] 301 CTR 489 (SC) where Hon'ble Supreme Court held that (1) When the shares are held by the assessee not to earn exempt income but to retain controlling stake in the investee company, the dominant purpose test cannot be said to be relevant for the purpose of Sec 14A and disallowance u/s 14A can be made. It is not the dominant purpose t…

DCIT, Circle-8(1), Kolkata vs. Itc Limited, Kolkata

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1223/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 May 2024AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA "ी राजेश कुमार, लेखा सट"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 1068 & 1166/Kol/2017 Assessment Year: 2010-11 & 2011-12 M/s ITC Limited Vs. ACIT, Range-8, Kolkata (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / I.T.A. No. 1222 & 1223/Kol/2017 Assessment Year: 2010-11 & 2011-12 DCIT, Circle-8(1), Kolkata Vs. M/s ITC Limited (PAN: AAACI 5950 L) ( अपीलाथ" ) Respondent / !"यथ" Appellant / 14.03.2023 Date o…