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 367,514 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

The DCIT, Kochi vs. M/S.Sfo Technologies P. Ltd, Aluva

In the result, this appeal filed by Revenue in ITA

ITA 400/COCH/2020[2010-11]Status: DisposedITAT Cochin24 Feb 2022AY 2010-11

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

For Appellant: Smt. Jamunna Devi, Sr.DRFor Respondent: Shri Anil D. Nair& Smt. Telma
Section 143(3)Section 14ASection 92C

…nce as held in Pr. CIT v. McDonalds India (P.) Ltd. ITA 725/2018 decided on 22nd October, 2018 cannot exceed the exempt income of that year. This decision follows the ratio and judgment of the Supreme Court in the case of Maxopp Investments Ltd. v. CI T[2018] 402 ITR 640/254 Taxman 325/91 taxmann.com 154 and the earlier judgments of the Delhi High Court in Cheminvest v. CIT [2015] 378 ITR 33/234 Taxman 761/61 taxmann.com 118 and CIT v. Holcim (P.) Ltd. [2015] 57 taxmann.com 28 (Delhi)……..” DCIT, Corporate Circle 2(1), Kochi v. SFO Technologies Private Limited The SLP filed by Revenue against the aforesaid judgmen…

Ccl Optoelectronics Pvt Ltd., Navi Mumbai vs. ITO 15(1)(3), Mumbai

In the result, this appeal by the assessee stands allowed

ITA 533/MUM/2020[2013-14]Status: DisposedITAT Mumbai22 Feb 2022AY 2013-14

Bench: Shri Shamim Yahya

Section 14ASection 250

…parties and perused the records. I find that assessee’s claim is that assessee has not earned any exempt income. Hence disallowance u/s. 14A 4 cannot be done. This is duly supported by the Hon’ble Supreme Court decision in the case of Maxopp Investment Ltd. 402 ITR 640. However, ld.CIT(A) has held that assessee has not proved whether assessee has earned any exempt income or not. I note that assessee has duly submitted that assessee has not earned exempt income before AO. AO had all the financial details of the assessee. He did not dispute the assessees proposition. However, he only held that despite not having…

DCIT Cen Cir 5(2), Mumbai vs. Satra Properties (India) Ltd, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5529/MUM/2018[2012-13]Status: DisposedITAT Mumbai22 Feb 2022AY 2012-13
Section 10Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & SHRI KULDIP SINGH, JUDICIAL MEMBER Dy. Commissioner of Income Vs. M/s. Satra Properties Tax, Central Circle-5(2) (INDIA) Limited Room No.1908, 19th Floor, Dev Plaza, 2nd Floor Air India Building, Opp. Andheri Fire Station Nariman Point, S.V. Road, Andheri(E) Mumbai-400 021 Mumbai – 400 058 PAN/GIR No. AAACE1835C (Appellant) .. (Respondent) Revenue by Shri Hoshang B. Irani Assessee by None Date of Hearing 14/02/2022 Date of Pronouncement 22/02/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in I…

The Shri Bajrang Alloys Ltd., Raipur (Cg) vs. The Dy. Commissioner of Income Tax 1(2), Raipur (Cg)

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 174/BIL/2016[2012-13]Status: DisposedITAT Raipur21 Feb 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 174/Rpr/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/Cit(A), Industrial Area, Urla, Raipur (C.G) Pan : Aaecs9218D .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri Amit M Jain, A.RFor Respondent: Shri G.N Singh, D.R
Section 143(2)Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR (Through Virtual Court at Pune) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI JAMLAPPA D BATTULL, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 174/RPR/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/CIT(A), Industrial Area, Urla, Raipur (C.G) PAN : AAECS9218D .......अपीलाथ" / Appellant बनाम / V/s. The Deputy Commissioner of Income Tax 1(2), Raipur. ……""यथ" / Respondent Assessee by : Shri Amit M Jain, A.R Revenue by : Shri G.N Singh, D.R सुनवाई क" तार"ख / Date of Hearing : 03.02.2022 घोष…

DCIT Corporate Circle 2 (2), Chennai vs. Iss Sdb Security Services Private Limited, Chennai

The appeal stands dismissed

ITA 3536/CHNY/2018[2014-15]Status: DisposedITAT Chennai21 Feb 2022AY 2014-15

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri MP Lohia (CA) – Ld. ARFor Respondent: Shri P. Sajit Kumar (JCIT) –Ld. DR
Section 143(3)Section 14ASection 32(1)(ii)Section 36(1)(va)Section 43B

…ue is in further appeal before us. At the outset, so far as the exclusion of strategic investment is concerned, the directions of Ld. CIT(A) stand reversed in the light of the decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s CIT (91 Taxmann.com 154). At the same time, no infirmity could be found in the direction of Ld. CIT(A) for verification of plea of own funds since a presumption would run in assessee’s favor that the investments were out of own funds in case own funds exceed the investments made by the assessee. Additionally, Ld. AR has pleaded that there is no opening and closin…

DCIT Corporate Circle 2(2), Chennai vs. Iss Sdb Security Services Pvt. Limited, Chennai

The appeal stands dismissed

ITA 2707/CHNY/2017[2011-12]Status: DisposedITAT Chennai21 Feb 2022AY 2011-12

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri MP Lohia (CA) – Ld. ARFor Respondent: Shri P. Sajit Kumar (JCIT) –Ld. DR
Section 143(3)Section 14ASection 32(1)(ii)Section 36(1)(va)Section 43B

…ue is in further appeal before us. At the outset, so far as the exclusion of strategic investment is concerned, the directions of Ld. CIT(A) stand reversed in the light of the decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s CIT (91 Taxmann.com 154). At the same time, no infirmity could be found in the direction of Ld. CIT(A) for verification of plea of own funds since a presumption would run in assessee’s favor that the investments were out of own funds in case own funds exceed the investments made by the assessee. Additionally, Ld. AR has pleaded that there is no opening and closin…

Shriram Capital Ltd, Chennai vs. DCIT, Corp Cir-6(1), Chennai

In the result, both the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 3255/CHNY/2018[2014-15]Status: DisposedITAT Chennai18 Feb 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.3168 & 3255/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 M/S. Shriram Capital Limited, The Deputy Commissioner Of Vs. Shriram House, 1St Floor, No. 4, Income Tax, Burkit Road, T. Nagar, Corporate Circle 6(1), Chennai 600 017. Chennai 600 034. [Pan:Aabcs2726B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.3216 & 3217/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Capital Limited, Shriram House, 1St Floor, No. 4, Income Tax, Corporate Circle 6(1), Burkit Road, T. Nagar, Chennai 600 034. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri R. Sivaraman, Advocate Department By Shri Darzakhum Songate, Cit : सुनवाई की तारीख/ Date Of Hearing : 03.01.2022 घोषणा की तारीख /Date Of Pronouncement : 18.02.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 29.08.2018 Relevant To The 2

For Appellant: Shri R. Sivaraman, Advocate
Section 115JSection 143(3)Section 14A

…the suo motu disallowance of expenses under section 14A of the Act and made additional disallowance of ₹.34,28,05,564/- under section 14A of the Act is against the law laid down by the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640. By relying on the decision of the Tribunal in assessee’s own case for the assessment year 2013-14 in I.T.A. No. 1766/Chny/2019 dated 16.12.2019, the ld. Counsel for the assessee prayed that the same may be followed for the assessment year under appeal. 4. Against the restriction of disallowance under section 14A of the Act as well as exclusion…

DCIT, Corp Cir-6(1), Chennai vs. Shriram Capital Ltd, Chennai

In the result, both the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 3217/CHNY/2018[2014-15]Status: DisposedITAT Chennai18 Feb 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.3168 & 3255/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 M/S. Shriram Capital Limited, The Deputy Commissioner Of Vs. Shriram House, 1St Floor, No. 4, Income Tax, Burkit Road, T. Nagar, Corporate Circle 6(1), Chennai 600 017. Chennai 600 034. [Pan:Aabcs2726B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.3216 & 3217/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Capital Limited, Shriram House, 1St Floor, No. 4, Income Tax, Corporate Circle 6(1), Burkit Road, T. Nagar, Chennai 600 034. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri R. Sivaraman, Advocate Department By Shri Darzakhum Songate, Cit : सुनवाई की तारीख/ Date Of Hearing : 03.01.2022 घोषणा की तारीख /Date Of Pronouncement : 18.02.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 29.08.2018 Relevant To The 2

For Appellant: Shri R. Sivaraman, Advocate
Section 115JSection 143(3)Section 14A

…the suo motu disallowance of expenses under section 14A of the Act and made additional disallowance of ₹.34,28,05,564/- under section 14A of the Act is against the law laid down by the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640. By relying on the decision of the Tribunal in assessee’s own case for the assessment year 2013-14 in I.T.A. No. 1766/Chny/2019 dated 16.12.2019, the ld. Counsel for the assessee prayed that the same may be followed for the assessment year under appeal. 4. Against the restriction of disallowance under section 14A of the Act as well as exclusion…

DCIT, Corp Cir-6(1), Chennai vs. Shriram Capital Ltd, Chennai

In the result, both the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 3216/CHNY/2018[2012-13]Status: DisposedITAT Chennai18 Feb 2022AY 2012-13

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.3168 & 3255/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 M/S. Shriram Capital Limited, The Deputy Commissioner Of Vs. Shriram House, 1St Floor, No. 4, Income Tax, Burkit Road, T. Nagar, Corporate Circle 6(1), Chennai 600 017. Chennai 600 034. [Pan:Aabcs2726B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.3216 & 3217/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Capital Limited, Shriram House, 1St Floor, No. 4, Income Tax, Corporate Circle 6(1), Burkit Road, T. Nagar, Chennai 600 034. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri R. Sivaraman, Advocate Department By Shri Darzakhum Songate, Cit : सुनवाई की तारीख/ Date Of Hearing : 03.01.2022 घोषणा की तारीख /Date Of Pronouncement : 18.02.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 29.08.2018 Relevant To The 2

For Appellant: Shri R. Sivaraman, Advocate
Section 115JSection 143(3)Section 14A

…the suo motu disallowance of expenses under section 14A of the Act and made additional disallowance of ₹.34,28,05,564/- under section 14A of the Act is against the law laid down by the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640. By relying on the decision of the Tribunal in assessee’s own case for the assessment year 2013-14 in I.T.A. No. 1766/Chny/2019 dated 16.12.2019, the ld. Counsel for the assessee prayed that the same may be followed for the assessment year under appeal. 4. Against the restriction of disallowance under section 14A of the Act as well as exclusion…

Shriram Capital Ltd, Chennai vs. DCIT, Corp Cir-6(1), Chennai

In the result, both the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 3168/CHNY/2018[2012-13]Status: DisposedITAT Chennai18 Feb 2022AY 2012-13

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.3168 & 3255/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 M/S. Shriram Capital Limited, The Deputy Commissioner Of Vs. Shriram House, 1St Floor, No. 4, Income Tax, Burkit Road, T. Nagar, Corporate Circle 6(1), Chennai 600 017. Chennai 600 034. [Pan:Aabcs2726B] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.3216 & 3217/Chny/2018 िनधा"रण वष"/Assessment Years: 2012-13 & 2014-15 The Deputy Commissioner Of Vs. M/S. Shriram Capital Limited, Shriram House, 1St Floor, No. 4, Income Tax, Corporate Circle 6(1), Burkit Road, T. Nagar, Chennai 600 034. Chennai 600 017. (अपीलाथ"/Appellant) (""थ"/Respondent) Assessee By : Shri R. Sivaraman, Advocate Department By Shri Darzakhum Songate, Cit : सुनवाई की तारीख/ Date Of Hearing : 03.01.2022 घोषणा की तारीख /Date Of Pronouncement : 18.02.2022 आदेश /O R D E R Per V. Durga Rao: Both The Cross Appeals Filed By The Assessee As Well As Revenue Are Directed Against Different Orders Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai Dated 29.08.2018 Relevant To The 2

For Appellant: Shri R. Sivaraman, Advocate
Section 115JSection 143(3)Section 14A

…the suo motu disallowance of expenses under section 14A of the Act and made additional disallowance of ₹.34,28,05,564/- under section 14A of the Act is against the law laid down by the Hon’ble Supreme Court in the case of Maxopp Investment Ltd. v. CIT (2018) 402 ITR 640. By relying on the decision of the Tribunal in assessee’s own case for the assessment year 2013-14 in I.T.A. No. 1766/Chny/2019 dated 16.12.2019, the ld. Counsel for the assessee prayed that the same may be followed for the assessment year under appeal. 4. Against the restriction of disallowance under section 14A of the Act as well as exclusion…

Jindal Dyechem Industries Pvt. Ltd., New Delhi vs. Addl.CIT, Special Range-5, New Delhi

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

ITA 5992/DEL/2018[2015-16]Status: DisposedITAT Delhi16 Feb 2022AY 2015-16

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2015-16 Jindal Dyechem Industries Pvt. Ltd., Vs Addl. Cit, 110, Babar Road, Special Range-5, New Delhi. New Delhi. Pan: Aaacj0719Q (Appellant) (Respondent) Assessee By : Shri Madhur Aggarwal, Advocate Revenue By : Shri Kumar Padmapani Bora, Sr. Dr Date Of Hearing : 18.11.2021 Date Of Pronouncement : .02.2022 Order Per R.K. Panda, Am:

For Appellant: Shri Madhur Aggarwal, AdvocateFor Respondent: Shri Kumar Padmapani Bora, Sr. DR
Section 14ASection 14A(1)

…orded satisfaction for disallowance u/s 14A r.w.r. 8D and, therefore, the disallowance made by the AO and sustained by the ld.CIT(A) should be deleted in view of the decision of Hon’ble Supreme Court in the case of Maxopp Investments Ltd. vs. CIT, reported in 402 ITR 640. He submitted that the assessee has shown investment of Rs.88.5 crores and has not received dividend income in respect of some of the investments. He submitted that out of 26 investments, the assessee has received dividend only on 6 investments. Referring to the decision of the Hon’ble Supreme Court in the case of Godrej & Boyce Manufacturing Co.…

Rajeev S Reniwal, Mumbai vs. ITO Circle- 3(2)(3), Mumbai

In the result, this appeal by the assessee stands partly allowed for statistical purpose

ITA 726/MUM/2020[2013-14]Status: DisposedITAT Mumbai14 Feb 2022AY 2013-14

Bench: Shri Shamim Yahya

Section 14ASection 24

…” 4. AO was not satisfied with the above. He made disallowances as per Rule 8D(2)(iii) amounting to Rs. 2,46,143/-. 3 5. Upon assessees appeal, ld.CIT(A) confirmed the AO’s order. He held that as per Hon’ble Supreme Court decision in Maxopp Investments Ltd. 402 ITR 640. The argument of strategic investment as well as stock in trade is not to be considered. He also held that whether the dividend income has been earned of such investment is not relevant. Hence, he confirmed the addition by the AO. 6. Further AO noted that assessee has a residential flat at Mumbai and office flat at Bhavnagar. Assessee was asked…

Maruti Suzuki India Ltd., New Delhi vs. DCIT, Circle-16(1), New Delhi

In the result, the appeal of assessee is partly allowed

ITA 7578/DEL/2018[2007-08]Status: DisposedITAT Delhi10 Feb 2022AY 2007-08

Bench: Shri Kul Bharat & Shri Pradip Kumar Kedia[Assessment Year : 2007-08] Maruti Suzuki India Ltd., Vs Dcit, Plot No.1, Nelson Mandela Road, Circle-16(1), Vasant Kunj, New Delhi-110070. New Delhi Pan-Aaacm0829Q Appellant Respondent Appellant By Sh. Ajay Vohra, Adv., Sh.Rohit Jain, Adv. & Ms. Soumya Jain, Ca Respondent By Ms. Sarita Kumar, Cit Dr Date Of Hearing 01.12.2021 Date Of Pronouncement 10.02.2022

Section 143(3)Section 14ASection 234CSection 254

…t there is no satisfaction by the AO. He further submitted that in the light of the judgement of Hon’ble Supreme Court in the case of Godrej & Boyce Manufacturing Co.Ltd. vs DCIT 394 ITR 449 (SC) and the judgement in the case of Maxopp Investment Ltd. vs CIT 402 ITR 640 (SC). Further, he placed reliance on the judgement of Hon’ble Delhi High Court in the case of Coforge Ltd. vs ACIT 436 ITR 546 (Del.) & H.T.Media Ltd. vs PCIT 399 ITR 576 (Del.) in support of contention that if the satisfaction is not recorded, no disallowance can be sustained. He further submitted that the issue even otherwise is also covered…

ACIT. Circle-3(1)(2), Mumbai vs. M/S Eipr India Pvt Ltd., Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 7471/MUM/2018[2014-15]Status: DisposedITAT Mumbai07 Feb 2022AY 2014-15

Bench: Shri C.N. Prasad, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleacit – Circle – 3(1)(2) V. M/S. Eipr India Pvt. Ltd., Room No. 607, 6Th Floor G-11, Tulsiani Chambers Aayakar Bhavan, M.K. Road Fress Press Journal Marg Mumbai - 400020 Nariman Point Mumbai - 400021 Pan: Aaace9094M (Appellant) (Respondent) Assessee By : Shri Nitesh Joshi Department By Shri B.K. Bagchi

For Appellant: Shri Nitesh Joshi
Section 14ASection 69C

…31/- by applying Rule 8D of I.T. Rules. 5. Aggrieved assessee preferred an appeal before the Ld.CIT(A) and Ld.CIT(A) after considering detailed submissions of the assessee and by relying on Hon'ble Supreme Court decision in the case of Maxopp Investment Ltd [91 Taxmann.com 154] the disallowance u/s. 14A cannot exceed the exempt income. He observed that since assessee has not 4 M/s. EIPR India Pvt. Ltd., earned any exempt income during the year the disallowance u/s. 14A of the Act cannot be made. Accordingly, he allowed ground raised by the assessee. Aggrieved Revenue is in appeal before us. 6. After considering…

Dy CIT -CC-8(1), Mumbai vs. M/S. Niku Mercantile P. Ltd, Mumbai

In the result, the present appeal by the Department stands dismissed

ITA 1040/MUM/2021[2013-14]Status: DisposedITAT Mumbai04 Feb 2022AY 2013-14

Bench: Shri Shamim Yahya, Am & Before Shri Rahul Chaudhary, Jm आयकर अपील सं/ I.T.A. No.1040/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) Dy. Commissioner Of Income बिधम/ M/S Niku Mercantile Private Tax, Central Circle - 8(1) Limited, Vs. Room No. 656, 6Th Floor, 2Nd Floor, Dhanraj Mahal, Aayakar Bhavan, M.K. Road, Csm Marg, Colaba, Mumbai – 400020 Mumbai - 400001 Pan : Aaacn6871F (अपीलाथी /Appellant) (प्रत्यथी) / Respondent) .. Revenue By: Shri C.T. Mathews, Dr Assessee By: None सुनवाई की तारीख / Date Of Hearing: 01/02/2022 घोषणा की तारीख /Date Of Pronouncement: 04/02/2022

For Appellant: NoneFor Respondent: Shri C.T. Mathews, DR
Section 143(3)Section 14ASection 14A(2)Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, AM AND BEFORE SHRI RAHUL CHAUDHARY, JM आयकर अपील सं/ I.T.A. No.1040/Mum/2021 (निर्धारण वर्ा / Assessment Year: 2013-14) Dy. Commissioner of Income बिधम/ M/s Niku Mercantile Private Tax, Central Circle - 8(1) Limited, Vs. Room No. 656, 6th Floor, 2nd Floor, Dhanraj Mahal, Aayakar Bhavan, M.K. Road, CSM Marg, Colaba, Mumbai – 400020 Mumbai - 400001 PAN : AAACN6871F (अपीलाथी /Appellant) (प्रत्यथी) / Respondent) .. Revenue by: Shri C.T. Mathews, DR Assessee by: None सुनवाई की तारीख / Date of Hearing: 01/02/2022 घोषणा की तारीख /Date of…

Keimed Limited, Hyderabad vs. ACIT, Central Circle-3(1), Chennai

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

ITA 553/CHNY/2019[2015-16]Status: DisposedITAT Chennai31 Jan 2022AY 2015-16

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri G. Manjunathaआयकर अपील सं./Ita Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/S.Keimed Pvt. Ltd., V. The Asst. Commissioner Of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [Pan: Aabck 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T.Banusekar, CAFor Respondent: Mr.R.N.Siddappaji, CIT
Section 143(3)Section 14ASection 234B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद" एवं माननीय "ी जी. मंजूनाथा, , लेखा सद" के सम" BEFORE HON’BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON’BLE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/s.Keimed Pvt. Ltd., v. The Asst. Commissioner of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [PAN: AABCK 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

Keimed Limited, Hyderabad vs. ACIT, Central Circle-3(1), Chennai

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

ITA 551/CHNY/2019[2014-15]Status: DisposedITAT Chennai31 Jan 2022AY 2014-15

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri G. Manjunathaआयकर अपील सं./Ita Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/S.Keimed Pvt. Ltd., V. The Asst. Commissioner Of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [Pan: Aabck 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T.Banusekar, CAFor Respondent: Mr.R.N.Siddappaji, CIT
Section 143(3)Section 14ASection 234B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद" एवं माननीय "ी जी. मंजूनाथा, , लेखा सद" के सम" BEFORE HON’BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON’BLE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/s.Keimed Pvt. Ltd., v. The Asst. Commissioner of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [PAN: AABCK 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

Keimed Limited, Hyderabad vs. ACIT, Central Circle-3(1), Chennai

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

ITA 550/CHNY/2019[2013-14]Status: DisposedITAT Chennai31 Jan 2022AY 2013-14

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri G. Manjunathaआयकर अपील सं./Ita Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/S.Keimed Pvt. Ltd., V. The Asst. Commissioner Of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [Pan: Aabck 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T.Banusekar, CAFor Respondent: Mr.R.N.Siddappaji, CIT
Section 143(3)Section 14ASection 234B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद" एवं माननीय "ी जी. मंजूनाथा, , लेखा सद" के सम" BEFORE HON’BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON’BLE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/s.Keimed Pvt. Ltd., v. The Asst. Commissioner of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [PAN: AABCK 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

Keimed Limited, Hyderabad vs. ACIT, Central Circle-3(1), Chennai

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

ITA 548/CHNY/2019[2012-13]Status: DisposedITAT Chennai31 Jan 2022AY 2012-13

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri G. Manjunathaआयकर अपील सं./Ita Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/S.Keimed Pvt. Ltd., V. The Asst. Commissioner Of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [Pan: Aabck 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T.Banusekar, CAFor Respondent: Mr.R.N.Siddappaji, CIT
Section 143(3)Section 14ASection 234B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद" एवं माननीय "ी जी. मंजूनाथा, , लेखा सद" के सम" BEFORE HON’BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON’BLE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/s.Keimed Pvt. Ltd., v. The Asst. Commissioner of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [PAN: AABCK 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…

Keimed Limited, Hyderabad vs. ACIT, Central Circle-3(1), Chennai

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

ITA 547/CHNY/2019[2010-11]Status: DisposedITAT Chennai31 Jan 2022AY 2010-11

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri G. Manjunathaआयकर अपील सं./Ita Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/S.Keimed Pvt. Ltd., V. The Asst. Commissioner Of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [Pan: Aabck 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.T.Banusekar, CAFor Respondent: Mr.R.N.Siddappaji, CIT
Section 143(3)Section 14ASection 234B

…आयकर अपीलीय अिधकरण, ‘बी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI माननीय "ी वी. दुगा" राव, "ाियक सद" एवं माननीय "ी जी. मंजूनाथा, , लेखा सद" के सम" BEFORE HON’BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON’BLE SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.547 & 548, 550, 551 & 553/Chny/2019 िनधा"रण वष" /Assessment Years: 2010-11 & 2012-13, 2013-14, 2014-15 & 2015-16 M/s.Keimed Pvt. Ltd., v. The Asst. Commissioner of No.10-3-316A, Income Tax, Masab Tank, Central Circle-3(1), Hyderbad-500 028. Chennai-34. [PAN: AABCK 4532 F] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ…