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

M/S. New Mangalore Port Authority, Mangaluru vs. Assistant Commissioner of Income-Tax, Circle-1(1), Mangaluru

In the result, the appeal of the assessee is allowed and the cross-objection filed by the Revenue is dismissed

ITA 755/BANG/2023[2012-13]Status: DisposedITAT Bangalore19 Dec 2023AY 2012-13

Bench: Shri Chandra Poojari & Ms. Madhumita Roy

For Appellant: Shri V Srinivasan, AdvocateFor Respondent: Shri G Manoj Kumar, CIT (DR)
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICIAL MEMBER ITA Nos.755 - 757/Bang/2023 Assessment Years : 2012-13 to 2014-15 M/s. New Mangalore The JCIT, Range-1 / Port Authority, ACIT, Circle – 1(1), FA and CAO, Panambur Mangaluru. Mangalore-575 010. PAN – AAALN 0057 A Vs. APPELLANT RESPONDENT C.O. Nos. 6 to 8/Bang/2023 Assessment Years : 2012-13 to 2014-15 (By Revenue) Revenue by : Shri G Manoj Kumar, CIT (DR) Assessee by : Shri V Srinivasan, Advocate Date of Hearing : 05-12-2023 Date of Pronouncement : 19 -12-2023 ORDER…

M/S. Sunny Motors Ltd., Kolkata vs. ITO, Cir-5(1), Kolkata.

In the result, appeal of the assessee is allowed

ITA 926/KOL/2023[2013-14]Status: DisposedITAT Kolkata30 Nov 2023AY 2013-14

Bench: Shri Rajesh Kumar]

Section 14ASection 194C

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘एसएमसी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “(SMC)” BENCH: KOLKATA "ी राजेश कुमार, लेखा सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member] I.T.A. No. 926/Kol/2023 Assessment Year : 2013-14 M/s Sunny Motors pvt. Ltd. Vs. ITO, Circle-5(1), Kolkata (PAN: AAECS 9247 G) Appellant / (अपीलाथ") Respondent / (""यथ") Date of Hearing / सुनवाई 02.11.2023 क" त"थ Date of Pronouncement/ 30.11.2023 आदेश उ%घोषणा क" त"थ For the Appellant/ Shri Siddharth Jhajharia, FCA नधा+,रती क" ओर से For the Respondent/ Shri Manoj Kr. Pati, JCIT राज"व क" ओर से ORDER / आदेश This is the a…

Indus Towers Ltd, Gurugram vs. DCIT, Circle 4(2), New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes and the Stay Petition of the assessee is hereby dismissed as infructuous

ITA 1051/DEL/2023[2017-18]Status: DisposedITAT Delhi30 Nov 2023AY 2017-18

Bench: Sh. M. Balaganesh & Sh. Anubhav Sharma

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Mr. Waseem Arshad, CIT-DR
Section 10(34)Section 115Section 14ASection 251(2)

…objective satisfaction with cogent reasons having regard to the accounts of the assessee as mandated in the Act referred (supra) was also subject matter of deliberation before the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT reported in 402 ITR 640 (SC) wherein the Hon’ble Apex Court categorically held that recording of such satisfaction is mandatory on the part of the ld. AO before resorting to the computation mechanism provided in Rule 8D(2) of the Rules. The same view has also been reiterated in the decision of Hon’ble Jurisdictional High Court in the case of H. T. Media Ltd. Vs. PCIT re…

Sicom Ltd, Mumbai vs. Dy Commissioner of Income Tax Circle 3(3)(1), Mumbai

In the result, the appeal filed by the assesee is partly allow for statistical purpose and the appeal filed by the revenue is allowed for statistical purposes

ITA 1694/MUM/2023[2013-2014]Status: DisposedITAT Mumbai22 Nov 2023AY 2013-2014

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadale, Judicialmember Sicom Ltd, Vs. Dy Commissioner Of Solitaire Corporate Income Tax Circle Park, Bldg No.04, 3(3)(1), Chakala, Andheri(E), 6Th Floor, Room No. Mumbai-400093. 609,Aayakar Bhavan, Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent) Dy Commissioner Of Vs. Sicom Ltd, Income Tax Circle Solitaire Corporate Park, 3(3)(1), Bldg No.04, Chakala, 6Th Floor, Room No. Andheri(E), 609,Aayakar Bhavan, Mumbai-400093. Maharishi Karve Road, Mumbai- 400020. "थायी लेखा सं./जीआइआर सं.Pan/Gir No. Aaacs5524J (अपीलाथ"/Applicant) (""यथ"/Respondent)

Section 10(34)Section 14ASection 234BSection 36(1)(ii)Section 36(1)(iii)

…y Ld Assessing Officer as to the incorrectness of the claim of the Assessee that no expenditure has been incurred for earning exempt income • Godrej & Boyce Manufacturing Company Ltd vs DCIT (2017) (394 ITR 449) (SC) • Maxopp Investment Limited vs CIT (2018) (402 ITR 640) (SC) • PCIT vs Godrej & Boyce Manufacturing Company Ltd (2023) (292 Taxman 497) (Bombay HC) • Wanbury Ltd vs DCIT (ITA No. 2587/Mum/2019) dated 25 April 2022 • Vinay Bhasin vs ACIT (ITA No. 6904/Del/2017) dated 27 August 2020. 16. We find the Honble Tribunal in the assessee own case in ITA.NO.1394&2057/Mum/2012 for A.Y.2008-09 dated 05-08-2015 h…

DCIT (Ltu), New Delhi vs. M/S Dalmia Bharat Sugar and Industries Ltd., New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 5677/DEL/2016[2011-12]Status: DisposedITAT Delhi14 Nov 2023AY 2011-12

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

Dalmia Bharat Sugar and Industries Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 5019/DEL/2016[2011-12]Status: DisposedITAT Delhi14 Nov 2023AY 2011-12

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

DCIT (Ltu), New Delhi vs. M/S. Dalmia Bharat Sugar & Industries Ltd., New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4572/DEL/2014[2010-11]Status: DisposedITAT Delhi14 Nov 2023AY 2010-11

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

DCIT(Ltu), New Delhi vs. M/S. Dalmia Bharat Sugar & Industries Ltd., New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4447/DEL/2014[2009-10]Status: DisposedITAT Delhi14 Nov 2023AY 2009-10

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

Dalmia Bharat Sugar and Industries Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4394/DEL/2014[2010-11]Status: DisposedITAT Delhi14 Nov 2023AY 2010-11

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

Dalmia Bharat Sugar and Industries Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4393/DEL/2014[2009-10]Status: DisposedITAT Delhi14 Nov 2023AY 2009-10

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

M/S. Dalmia Bharat Sugar and Industries Limited, New Delhi vs. DCIT, New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4338/DEL/2014[2008-09]Status: DisposedITAT Delhi14 Nov 2023AY 2008-09

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

DCIT (Ltu), New Delhi vs. M/S. Dalmia Cement (Bharat) Ltd., New Delhi

In the result, appeals of the Revenue for AY 2009-10 to 2010-

ITA 4317/DEL/2014[2008-09]Status: DisposedITAT Delhi14 Nov 2023AY 2008-09

Bench: Shri Challa Nagendra Prasad & Shri M Balaganeshआ.अ.सं/.I.T.A Nos.4317/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4338/Del/2014 िनधा"रणवष"/Assessment Year:2008-09 बनाम Dalmia Cement (Bharat)Ltd. Dcit (Ltu) (Now Known As M/S Dalmia Bharat Vs. Nbcc Plaza, Pushp Sugar & Industries Ltd.) Vihar, 11Th & 12Th Floors, Sector-Iii, New Delhi. Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent आ.अ.सं/.I.T.A Nos.4447/Del/2014 िनधा"रणवष"/Assessment Year:2009-10 बनाम Dcit (Ltu) Dalmia Cement (Bharat)Ltd. Nbcc Plaza, Pushp Vihar, Vs. (Now Known As M/S Dalmia Sector-Iii, New Delhi. Bharat Sugar & Industries Ltd.) 11Th & 12Th Floors, Hansalaya, 15, Barakhamba Road, New Delhi. Pan No. Aaacd2281K अपीलाथ" Appellant ""यथ"/Respondent

Section 80I

…the absence of recording of satisfaction by the AO in not accepting the suo moto disallowance there cannot be any disallowance u/s 14A of the Act. Reliance was placed on the decision of the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. Vs. CIT (402 ITR 640). A perusal of the assessment order shows that even though AO notes that the assessee has made suo moto disallowance of Rs.20 lakhs he has not recorded any dissatisfaction on the suo moto disallowance made by the assessee M/s Dalmia Bharat Sugar & Industries Limited in its return of income. It is evident from the assessment order that the ass…

Deputy Commissioner of Income Tax CC-7(3), Mumbai vs. M/S Macrotech Developers Limited (Formerly Known As Lodha Developers Pvt Ltd) (Successoer of M/S Bellissimo Crown Buildmart Pvt Ltd ), Mumbai

Accordingly should be allowed as a deduction

ITA 2383/MUM/2022[2016-17]Status: DisposedITAT Mumbai08 Nov 2023AY 2016-17

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115JSection 14ASection 92C

…1 ITA 2382 & 2383/Mum/2022 Macrotech Developers Ltd IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”,MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2382 /Mum/2022 (Assessment year: 2016-17) Deputy Commissioner of Income- vs M/s Macrotech Developers Limited 412, 4th Floor, 17G, Vardhman tax (Central Circle)-7(3), Mumbai Room No.655, Aayakar Bhavan, Chamber, Cawasji Patel Street, Fort, M.K. Road, Mumbai-400 020 Mumbai-400 001 PAN : AAACL1490J APPELLANT RESPONDENT I.T.A. No.2383 /Mum/2022 (Assessment years : 2016-17) Deputy Commissioner of Income- vs M/…

Deputy Commissioner of Income Tax, CC-7(3), Mumbai vs. M/S Macrotech Developers Limited, Mumbai

Accordingly should be allowed as a deduction

ITA 2382/MUM/2022[2016-17]Status: DisposedITAT Mumbai08 Nov 2023AY 2016-17

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

Section 115JSection 14ASection 92C

…1 ITA 2382 & 2383/Mum/2022 Macrotech Developers Ltd IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”,MUMBAI BEFORE SHRI KULDIP SINGH (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2382 /Mum/2022 (Assessment year: 2016-17) Deputy Commissioner of Income- vs M/s Macrotech Developers Limited 412, 4th Floor, 17G, Vardhman tax (Central Circle)-7(3), Mumbai Room No.655, Aayakar Bhavan, Chamber, Cawasji Patel Street, Fort, M.K. Road, Mumbai-400 020 Mumbai-400 001 PAN : AAACL1490J APPELLANT RESPONDENT I.T.A. No.2383 /Mum/2022 (Assessment years : 2016-17) Deputy Commissioner of Income- vs M/…

Deepak Pandurang Gadre, Ratnagiri vs. ACIT, Central Circle, Kolhapur

In the result, the appeal is partly allowed

ITA 1117/PUN/2023[2017-18]Status: DisposedITAT Pune07 Nov 2023AY 2017-18

Bench: Shri R.S. Syal(Virtual Hearing)

Section 14ASection 14A(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT (VIRTUAL HEARING) आयकर अपील सं. /ITA No.1117/PUN/2023 "नधा"रण वष" / Assessment Year : 2017-18 Deepak Pandurang Gadre, Vs. The ACIT, 3298 A, Gadre Marine Export, Central Circle, Mirkarwada, Ratnagiri, Kolhapur Maharashtra – 415 612 PAN : ABHPG2085K Appellant Respondent Assessee by Shri Tanzil R. Padvekar Revenue by Shri Arvind Desai Date of hearing 07-11-2023 Date of pronouncement 07-11-2023 आदेश / ORDER PER R.S. SYAL, VP: This appeal by the assessee arises out of the order dated 30-08-2023 passed by the ld. CIT(A) in…

Peerless Hotels Ltd., Kolkata vs. ACIT, Cir-8(2), Kol, Kolkata

In the result, the appeal of the assessee is partly allowed

ITA 545/KOL/2023[2017-18]Status: DisposedITAT Kolkata07 Nov 2023AY 2017-18

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawali.T.A. No. 545/Kol/2023 Assessment Year: 2017-2018 Peerless Hotels Limited,..........................Appellant 12, J.L. Nehru Road, Kolkata-700013 [Pan: Aabcp9484D] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-8(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances By: Shri Soumitra Choudhury, Advocate, Appeared On Behalf Of The Assessee Shri B.K. Singh, Jcit (Sr. D.R.), Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : August 09, 2023 Date Of Pronouncing The Order : November 07, 2023

Section 143(2)Section 14A

…ITA No. 545/KOL/2023 Assessment Year: 2017-2018 Peerless Hotels Limited IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Girish Agrawal, Accountant Member I.T.A. No. 545/KOL/2023 Assessment Year: 2017-2018 Peerless Hotels Limited,..........................Appellant 12, J.L. Nehru Road, Kolkata-700013 [PAN: AABCP9484D] -Vs.- Assistant Commissioner of Income Tax,....Respondent Circle-8(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances by: Shri Soumitra Choudhury, Advocate, appeared on behalf of the assessee Shri B.K. Sin…

ACIT Central Circle - 26, New Delhi vs. Punj Lloyd Ltd, New Delhi

In the result, appeal of the Revenue is dismissed

ITA 6562/DEL/2019[2015-16]Status: DisposedITAT Delhi30 Oct 2023AY 2015-16

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

For Appellant: Shri Rajat Jain, CAFor Respondent: Shri Vivek Vardhan, Sr. DR
Section 143(3)Section 14A

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE DR. BRR KUMAR, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Asstt. Year: 2015-16 ACIT, Vs. Punj Lloyd Ltd. Central Circle-26, 17-18, New Delhi. Punjlloyd House, Nehru Place, New Delhi-110 019 PAN AAACP0305Q (Appellant) (Respondent) Assessee by: Shri Rajat Jain, CA Shri Akshat Jain, CA Department by: Shri Vivek Vardhan, Sr. DR Date of Hearing: 29.08.2023 Date of 30.10.2023 pronouncement: O R D E R PER ASTHA CHANDRA, JM The appeal filed by the Revenue is directed against the order dated 04.06.2019 of the Ld. Commissioner of Income Tax…

Assistant Commissioner of Income Tax, Circle 1(1), Raipur vs. Mesers South Eastern Coalfields Limited, Bilaspur

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 54/RPR/2019[2016-17]Status: DisposedITAT Raipur30 Oct 2023AY 2016-17

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…arat), - copy placed as Attachment S7 The AO has sufficient interest-free funds for investing in investments having tax-free income. Hence, disallowance under 14A is not justified Relance is placed on following decisions: • Maxopp Investment Ltd v CIT [(2018) 402 ITR 640 (SC)] (para 41 ) - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT [(2017) 394 ITR 449 (SC)] (para 38) - copy placed as Attachment S9 148 South Eastern Coal Fields Ltd. 201/BIL/2012,401/BIL/2014,115/BIL/2015,102,103,162/BIL/2017, 204/RPR/2017, 169/RPR/2018, 33/RPR/2019 204/BIL/2012, 382/BIL/2014, 103/BIL/2015, 98,99/BIL…

Mesers South Eastern Coalfields Limited, Bilaspur vs. Deputy Commissioner of Income Tax, Circle 1(1), Bilaspur

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 33/RPR/2019[2016-17]Status: DisposedITAT Raipur30 Oct 2023AY 2016-17

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…arat), - copy placed as Attachment S7 The AO has sufficient interest-free funds for investing in investments having tax-free income. Hence, disallowance under 14A is not justified Relance is placed on following decisions: • Maxopp Investment Ltd v CIT [(2018) 402 ITR 640 (SC)] (para 41 ) - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT [(2017) 394 ITR 449 (SC)] (para 38) - copy placed as Attachment S9 148 South Eastern Coal Fields Ltd. 201/BIL/2012,401/BIL/2014,115/BIL/2015,102,103,162/BIL/2017, 204/RPR/2017, 169/RPR/2018, 33/RPR/2019 204/BIL/2012, 382/BIL/2014, 103/BIL/2015, 98,99/BIL…

Assistant Commissioner of Income Tax, Circle -1(1), Bilaspur vs. South Eastern Coalfields Limited, Bilaspur

In the result, all the captioned appeals of the assessee as well as revenue are either allowed, partly allowed for statistical purposes or dismissed, in accordance with our observations herein above

ITA 171/RPR/2018[2015-16]Status: DisposedITAT Raipur30 Oct 2023AY 2015-16

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No.201/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.401/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.162/Bil/2017 (Ay : 2010-2011) आयकर अपील सं./Ita No.115/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.102/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.103/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.204/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.169/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.33/Rpr/2019 (Ay : 2016-2017) South Eastern Coal Fields Ltd., Vs Jcit, Range-1, Bilaspur Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) .. (""यथ" / Respondent) & आयकर अपील सं./Ita No.204/Bil/2012 (Ay : 2009-2010) आयकर अपील सं./Ita No.382/Bil/2014 (Ay : 2010-2011) आयकर अपील सं./Ita No.103/Bil/2015 (Ay : 2011-2012) आयकर अपील सं./Ita No.98/Bil/2017 (Ay : 2012-2013) आयकर अपील सं./Ita No.99/Bil/2017 (Ay : 2013-2014) आयकर अपील सं./Ita No.188/Rpr/2017 (Ay : 2014-2015) आयकर अपील सं./Ita No.171/Rpr/2018 (Ay : 2015-2016) आयकर अपील सं./Ita No.54/Rpr/2019 (Ay : 2016-2017) Dcit, Circle-1(1), Bilaspur Vs South Eastern Coal Fields Ltd., Seepat Road, Bilaspur Pan No. :Aadcs 2066 E (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Ajit Korde, Advocate, Shri Ankur Goel & Shri Ankit Agrawal, Cas राज"व क" ओर से /Revenue By : Shri Debashish Lahiri, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 26/09/2023 घोषणा क" तार"ख/Date Of Pronouncement : 30/10/2023

For Appellant: Shri Ajit Korde, AdvocateFor Respondent: Shri Debashish Lahiri, CIT-DR

…arat), - copy placed as Attachment S7 The AO has sufficient interest-free funds for investing in investments having tax-free income. Hence, disallowance under 14A is not justified Relance is placed on following decisions: • Maxopp Investment Ltd v CIT [(2018) 402 ITR 640 (SC)] (para 41 ) - copy placed as Attachment S8 • Godrej & Boyce Manufacturing Co Ltd v DCIT [(2017) 394 ITR 449 (SC)] (para 38) - copy placed as Attachment S9 148 South Eastern Coal Fields Ltd. 201/BIL/2012,401/BIL/2014,115/BIL/2015,102,103,162/BIL/2017, 204/RPR/2017, 169/RPR/2018, 33/RPR/2019 204/BIL/2012, 382/BIL/2014, 103/BIL/2015, 98,99/BIL…