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 367,277 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

Jt. CIT(OSD), Central Circle-4, New Delhi vs. Sudhir Power Ltd., New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 34/DEL/2022[2017-18]Status: DisposedITAT Delhi30 Aug 2023AY 2017-18

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

DCIT, Circle-4, New Delhi vs. Sudhir Power Ltd., New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 900/DEL/2021[2016-17]Status: DisposedITAT Delhi30 Aug 2023AY 2016-17

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

DCIT, Circle-4, New Delhi vs. Sudhir Power Ltd., New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 899/DEL/2021[2012-13]Status: DisposedITAT Delhi30 Aug 2023AY 2012-13

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

Sudhir Power Ltd., New Delhi vs. DCIT, Circle-4, New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 1043/DEL/2021[2017-18]Status: DisposedITAT Delhi30 Aug 2023AY 2017-18

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

Sudhir Power Ltd., New Delhi vs. DCIT, Circle-4, New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 1042/DEL/2021[2016-17]Status: DisposedITAT Delhi30 Aug 2023AY 2016-17

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

Sudhir Power Ltd., New Delhi vs. ACIT, Circle-4, New Delhi

In the result, the appeal of the assessee is allowed for AY

ITA 1041/DEL/2021[2012-13]Status: DisposedITAT Delhi30 Aug 2023AY 2012-13

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘H’: NEW DELHI BEFORE, SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER M/s Sudhir Power Dy. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) Dy. CIT M/s Sudhir Power Limited Central Circle-4 507, International Trade New Delhi-110 055 Vs. Tower, Nehru Place New Delhi-110 019 PAN-AABCS 6697K (Appellant) (Respondent) M/s Sudhir Power Asst. CIT Limited Central Circle-4 507, International Vs. New Delhi-110 055 Trade Tower, Nehru…

Central Bank of India, Mumbai vs. The National Faceless Appeal Centre, Delhi

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

ITA 235/MUM/2023[2019-20]Status: DisposedITAT Mumbai25 Aug 2023AY 2019-20

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Nitesh JoshiFor Respondent: Shri R.A. Dhyani
Section 10Section 14ASection 250Section 270A

…he decision of the coordinate bench of the Tribunal in its own case for the assessment year 2012-13, wherein the disallowance under section 14A read with Rule 8D was deleted following the decision of the Hon’ble Supreme Court in Maxopp Investment Ltd v/s CIT, 402 ITR 640 (SC). The Assessing Officer (“AO”) vide order dated 30/09/2021, passed under section 143(3) read with section 144B of the Act did not agree with the submissions of the assessee and held that it is difficult to appreciate that no expense is attributable to the exempt income earned by the assessee. The AO held that zero disallowance made by the ass…

Career Point Limited, Kota, Rajasthan vs. Principal Commissioner of Income Tax, Udaipur, Rajasthan

In the result, the appeal of the assessee is allowed

ITA 242/JPR/2023[2018-19]Status: DisposedITAT Jaipur22 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Goyal, CA &For Respondent: Shri Ajey Malik (CIT)
Section 143(2)Section 143(3)Section 14ASection 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 242/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19. cuke Career Point Limited, The Principal Commissioner of Vs. 112-B, Shakti Nagar, Income-tax, Kota. Udaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AABCC 4963 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Vijay Goyal, CA & Shri…

Assistant Commissioner of Income Tax, Central Circle-1(2), Hyderabad vs. Madhava Holdings Private Limited, Hyderabad

In the result, appeal of the Revenue is allowed

ITA 55/HYD/2022[2018-19]Status: DisposedITAT Hyderabad17 Aug 2023AY 2018-19

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri A.V.Raghuram, AR
Section 14A

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 55/Hyd/2022 (निर्धारण वर्ष / Assessment Year: 2018-19) Assistant Commissioner of Vs. M/s. Mandava Holdings Income Tax, Pvt. Ltd., Central Circle-1(2), Hyderabad Hyderabad [PAN No. AAFCM4964M] अपीलार्थीर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धारिती द्वारा /Assessee by: Shri A.V.Raghuram, AR राजस्‍व द्वारा Shri K. Madhusudan, CIT-DR /Revenue by: सुनवाई की तारीख रीख/Date of hearing: 09/08/2023 घोषण…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 1467/MUM/2023[2015-16]Status: DisposedITAT Mumbai17 Aug 2023AY 2015-16

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…erest payment, professional charges, office expenses, and conveyance expenses. Thus, it was submitted that no expenditure was incurred for earning the dividend income of Rs.14,61,840, during the year. 8. We find that in Maxopp Investment Ltd. v/s CIT, [2018] 402 ITR 640 (SC) the Hon’ble Supreme Court held that the dominant purpose for which the investment into shares is made may not be relevant for applicability of section 14A of the Act. Therefore, we find no merit in the submission of the assessee that the investment in M/s Trimax IT Infrastructure and Services Limited was held by it as a promoter since the pu…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 1464/MUM/2023[2013-14]Status: DisposedITAT Mumbai17 Aug 2023AY 2013-14

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…erest payment, professional charges, office expenses, and conveyance expenses. Thus, it was submitted that no expenditure was incurred for earning the dividend income of Rs.14,61,840, during the year. 8. We find that in Maxopp Investment Ltd. v/s CIT, [2018] 402 ITR 640 (SC) the Hon’ble Supreme Court held that the dominant purpose for which the investment into shares is made may not be relevant for applicability of section 14A of the Act. Therefore, we find no merit in the submission of the assessee that the investment in M/s Trimax IT Infrastructure and Services Limited was held by it as a promoter since the pu…

Pratik Technologies Private Limited, Mumbai vs. DCIT-Central Circle-8(2), Mumbai

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 1462/MUM/2023[2012-13]Status: DisposedITAT Mumbai17 Aug 2023AY 2012-13

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

For Appellant: Shri Vimal PunamiyaFor Respondent: Shri R.A. Dhyani
Section 132Section 14ASection 153ASection 250

…erest payment, professional charges, office expenses, and conveyance expenses. Thus, it was submitted that no expenditure was incurred for earning the dividend income of Rs.14,61,840, during the year. 8. We find that in Maxopp Investment Ltd. v/s CIT, [2018] 402 ITR 640 (SC) the Hon’ble Supreme Court held that the dominant purpose for which the investment into shares is made may not be relevant for applicability of section 14A of the Act. Therefore, we find no merit in the submission of the assessee that the investment in M/s Trimax IT Infrastructure and Services Limited was held by it as a promoter since the pu…

ACIT, Cir.-29, Kolkata vs. M/S Steel Authority of India Employees Co-Op. Cr. Society Ltd., Kolkata

In the result, the appeal of the revenue is hereby dismissed

ITA 268/KOL/2023[2018-19]Status: DisposedITAT Kolkata09 Aug 2023AY 2018-19

Bench: Dr. Manish Borad & Shri Sonjoy Sarma] I.T.A. No. 268/Kol/2023 Assessment Year : 2018-19 Acit, Circle-29, Kolkata Vs. M/S. Steel Authority Of India Employees Co-Operative Credit Society Limited Pan: Aadas 9699 B Appellant Respondent Date Of Hearing 15.05.2023 Date Of Pronouncement 09.08.2023 For The Assessee Shri S.K. Tulsiyan, Advocate & Mrs. Puja Somani, Ca For The Revenue Smt. Ranu Biswas, Addl. Cit, Dr Order Per Sonjoy Sarma, Jm: The Present Appeal Has Been Preferred By The Revenue Against The Order Dated 20.12.2022 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Revenue Has Raised The Following Grounds Of Appeal:

Section 143(2)Section 144Section 14ASection 250Section 36(1)(ii)Section 80PSection 80P(2)(a)

…sessee preferred an appeal before the Ld. CIT(A), who was pleased to hold as under: “I have examined the contention of the assessee and the assessee’s reliance on the decision of the Hon’ble Apex court in the case of Maxopp Investment Ltd. Vs. CIT reported in 402 ITR 640 (SC). On a reading of the decision of the Hon’ble Supreme court, it is not discernible that any such view has been accepted by the Hon’ble Supreme court that the provisions of section 14A, read with Rule 8D are not applicable in the case of shares held as stock in trade. It is an admitted fact that dividend has been earned on shares and mutual fu…

Hsi Automotive Limited, Kancheepuram vs. DCIT, Chennai

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

ITA 867/CHNY/2016[2011-12]Status: DisposedITAT Chennai09 Aug 2023AY 2011-12

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.867/Chny/2016 िनधा"रण वष" /Assessment Year: 2011-12 M/S. Hsi Automotive Pvt. Ltd., The Dy. Commissioner Of Survey No.73, A Block, #100, Vs. Income Tax, Thandalam Post, Mevalurkuppam, Corporate Circle-2(2), Sriperumbudur Taluk, Chennai. Kancheepuram – 602 105. [Pan: Aaach-2804-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri V. Veeraraghavan & Shri K. Senguttuvan, Advocates ""यथ" क" ओर से /Respondent By : Dr. S. Palanikumar, Cit सुनवाई क" तारीख/Date Of Hearing : 07.06.2023 घोषणा क" तारीख /Date Of Pronouncement : 09.08.2023

For Appellant: Shri V. Veeraraghavan, &For Respondent: Dr. S. Palanikumar, CIT
Section 143(3)Section 92C

…ssessee in its subsidiary company only from funds received towards increase in share capital. We find that this issue is also covered against the assessee by the decision of Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT reported in [2018] 402 ITR 640 (SC), wherein it is held that the investment made in subsidiary will fall under the disallowance of provision of Rule 8D(2)(ii) & (iii). Since, this issue is covered by the decision of Hon’ble Supreme Court, supra, we dismiss this ground of assessee’s appeal. 20. The next issue in this appeal of assessee is as regards to the claim of deductio…

Elara Capital (India) Private Limited, Mumbai vs. ACIT- Circle 6(2)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1569/MUM/2023[2017-18]Status: DisposedITAT Mumbai31 Jul 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The Acit-Circle 6(2)(2), Tower 3, 21St Floor, One Room No. 506, 5Th Floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. Pan No. Aabce 6487 B Appellant Respondent

For Appellant: Mr. Milind DattaniFor Respondent: Mr. P.D. Chogule (Addl. CIT)
Section 14A

…he Act. The relevant could have been made u The relevant judgements in this regard, are as under: judgements in this regard, are as under (i) The Hon The Hon’ble Supreme Court in the case of Maxopp ble Supreme Court in the case of Maxopp Investment Ltd Vs CIT(402 ITR 640) which is set out Investment Ltd Vs CIT which is set out hereunder: hereunder “40. We note from the facts in We note from the facts in the State Bank of Patiala the State Bank of Patiala cases that the AO, while passing the assessment order, cases that the AO, while passing the assessment order, cases that the AO, while passing the assessment ord…

DCIT Central Circle 3(1), Chennai vs. Bgr Energy Systems Limited, Chennai

In the result, the appeals filed by the assessee as well as Revenue are dismissed

ITA 278/CHNY/2023[2018-19]Status: DisposedITAT Chennai26 Jul 2023AY 2018-19

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.221 & 222/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 M/S. Bgr Energy Systems Limited, Vs. The Assistant Commissioner Of No. 443, Anna Salai, Guna Complex, Income Tax, Teynampet, Chennai 600 018. Central Circle 3(1), Chennai 600 034. [Pan:Aabcg2202J] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.277 & 278/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 The Deputy Commissioner Of Vs. M/S. Bgr Energy Systems Limited, Income Tax, No. 443, Anna Salai, Guna Complex, Central Circle 3(1), Teynampet, Chennai 600 018. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Ms. T. Sandhyaarti, Fca Department By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 19.07.2023 घोषणा की तारीख /Date Of Pronouncement : 26.07.2023 आदेश /O R D E R Per Bench: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Consolidated Order Of The Ld. Commissioner Of Income

For Appellant: Ms. T. Sandhyaarti, FCAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 37

…evious year relevant to the assessment year 2015-16.” 16. By referring to various case law including the decision in the case of Joint Investments Private Ltd. v. CIT [2015] 372 ITR 694 (Delhi), the decision in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC), the Hon’ble Jurisdictional High Court has held that the disallowance under section 14A of the Act should be restricted to the extent of exempt income earned during the previous year. By following various decisions including the decision in the case of Hon’ble Delhi High Court in the case 15 I.T.A. Nos.221-222 & 277-278/Chny/23 of Joint In…

DCIT Central Circle 3(1), Chennai vs. Bgr Energy Systems Limited, Chennai

In the result, the appeals filed by the assessee as well as Revenue are dismissed

ITA 277/CHNY/2023[2015-16]Status: DisposedITAT Chennai26 Jul 2023AY 2015-16

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.221 & 222/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 M/S. Bgr Energy Systems Limited, Vs. The Assistant Commissioner Of No. 443, Anna Salai, Guna Complex, Income Tax, Teynampet, Chennai 600 018. Central Circle 3(1), Chennai 600 034. [Pan:Aabcg2202J] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.277 & 278/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 The Deputy Commissioner Of Vs. M/S. Bgr Energy Systems Limited, Income Tax, No. 443, Anna Salai, Guna Complex, Central Circle 3(1), Teynampet, Chennai 600 018. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Ms. T. Sandhyaarti, Fca Department By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 19.07.2023 घोषणा की तारीख /Date Of Pronouncement : 26.07.2023 आदेश /O R D E R Per Bench: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Consolidated Order Of The Ld. Commissioner Of Income

For Appellant: Ms. T. Sandhyaarti, FCAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 37

…evious year relevant to the assessment year 2015-16.” 16. By referring to various case law including the decision in the case of Joint Investments Private Ltd. v. CIT [2015] 372 ITR 694 (Delhi), the decision in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC), the Hon’ble Jurisdictional High Court has held that the disallowance under section 14A of the Act should be restricted to the extent of exempt income earned during the previous year. By following various decisions including the decision in the case of Hon’ble Delhi High Court in the case 15 I.T.A. Nos.221-222 & 277-278/Chny/23 of Joint In…

M/S Bgr Eergy Systems Limied, Chennai vs. ACIT, Central Circle-3(1), Chennai

In the result, the appeals filed by the assessee as well as Revenue are dismissed

ITA 222/CHNY/2023[2018-19]Status: DisposedITAT Chennai26 Jul 2023AY 2018-19

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.221 & 222/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 M/S. Bgr Energy Systems Limited, Vs. The Assistant Commissioner Of No. 443, Anna Salai, Guna Complex, Income Tax, Teynampet, Chennai 600 018. Central Circle 3(1), Chennai 600 034. [Pan:Aabcg2202J] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.277 & 278/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 The Deputy Commissioner Of Vs. M/S. Bgr Energy Systems Limited, Income Tax, No. 443, Anna Salai, Guna Complex, Central Circle 3(1), Teynampet, Chennai 600 018. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Ms. T. Sandhyaarti, Fca Department By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 19.07.2023 घोषणा की तारीख /Date Of Pronouncement : 26.07.2023 आदेश /O R D E R Per Bench: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Consolidated Order Of The Ld. Commissioner Of Income

For Appellant: Ms. T. Sandhyaarti, FCAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 37

…evious year relevant to the assessment year 2015-16.” 16. By referring to various case law including the decision in the case of Joint Investments Private Ltd. v. CIT [2015] 372 ITR 694 (Delhi), the decision in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC), the Hon’ble Jurisdictional High Court has held that the disallowance under section 14A of the Act should be restricted to the extent of exempt income earned during the previous year. By following various decisions including the decision in the case of Hon’ble Delhi High Court in the case 15 I.T.A. Nos.221-222 & 277-278/Chny/23 of Joint In…

M/S Bgr Eergy Systems Limied, Chennai vs. ACIT, Central Circle-3(1), Chennai

In the result, the appeals filed by the assessee as well as Revenue are dismissed

ITA 221/CHNY/2023[2015-16]Status: DisposedITAT Chennai26 Jul 2023AY 2015-16

Bench: Shri V. Durga Rao & Shri Manjunatha, G.आयकर अपील सं./I.T.A. Nos.221 & 222/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 M/S. Bgr Energy Systems Limited, Vs. The Assistant Commissioner Of No. 443, Anna Salai, Guna Complex, Income Tax, Teynampet, Chennai 600 018. Central Circle 3(1), Chennai 600 034. [Pan:Aabcg2202J] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.277 & 278/Chny/2023 िनधा"रण वष"/Assessment Year: 2015-16 & 2018-19 The Deputy Commissioner Of Vs. M/S. Bgr Energy Systems Limited, Income Tax, No. 443, Anna Salai, Guna Complex, Central Circle 3(1), Teynampet, Chennai 600 018. Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Ms. T. Sandhyaarti, Fca Department By : Shri Ar V Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 19.07.2023 घोषणा की तारीख /Date Of Pronouncement : 26.07.2023 आदेश /O R D E R Per Bench: These Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against The Consolidated Order Of The Ld. Commissioner Of Income

For Appellant: Ms. T. Sandhyaarti, FCAFor Respondent: Shri AR V Sreenivasan, Addl. CIT
Section 37

…evious year relevant to the assessment year 2015-16.” 16. By referring to various case law including the decision in the case of Joint Investments Private Ltd. v. CIT [2015] 372 ITR 694 (Delhi), the decision in the case of Maxopp Investment Ltd. v. CIT [2018] 402 ITR 640 (SC), the Hon’ble Jurisdictional High Court has held that the disallowance under section 14A of the Act should be restricted to the extent of exempt income earned during the previous year. By following various decisions including the decision in the case of Hon’ble Delhi High Court in the case 15 I.T.A. Nos.221-222 & 277-278/Chny/23 of Joint In…

Wns Global Services Private Limited, Mumbai vs. Assistant Comm. of Income Tax -14(1)(2), Mumbai

ITA 2451/MUM/2022[2017-18]Status: DisposedITAT Mumbai26 Jul 2023AY 2017-18

Bench: Vikas Awasthy () & Ms. Padmavathy S. ()

Section 143(1)Section 143(3)Section 14ASection 234CSection 43BSection 92C

…1 ITA 2450 & 2451/Mum/2022 WNS Global Services Pvt Ltd THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI BEFORE VIKAS AWASTHY (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.2450 & 2451/Mum/2022 (Assessment year 2018-2019 & 2017-18) WNS GLOBAL SERVICES vs Assistant Commissioner of Income- PRIVATE LIMITED tax-14(1)(2), Mumbai 4th Floor, Aayakar Bhavan PL.10/11, GATE NO.4, GODREJ BOYCE COMPLEX, M.K. Road, Mumbai FIRSHANAGAR, L.B.S. MARG VIKHROLI (WEST), MUMBAI PAN : AAACW2598L APPELLANT RESPONDENT Assessee represented by Mr. Porus Kaka, Manish Kanth Department represented by Smt.So…