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, CC-3 vs. Escorts Ltd

In the result appeal filed by revenue for A

ITA 84/DEL/2006[2002-2003]Status: PendingITAT Delhi06 Mar 2019AY 2002-2003

Bench: Shri N.K.Billaiya & Smt. Beena A Pillai

For Appellant: : Sh. R.M.Mehta, Adv
Section 10(33)Section 143(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER ITA No. 4673/Del/2005 AY: 2002-03 M/s Escorts Ltd. ACIT 11, Scindia House, | vs. | Range 11 C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B ITA No. 84/Del/2006 AY: 2002-03 DCIT vs. | M/s Escorts Ltd. Central Circle 3 11, Scindia House, C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B ITA No. 2350/Del/2010 AY: 2003-04 DCIT vs. | M/s Escorts Ltd. Central Circle 3 11, Scindia House, C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B & ITA No. 5408/Del/2014…

Escorts Ltd vs. Addl. CIT, Range II

In the result appeal filed by revenue for A

ITA 4673/DEL/2005[2002-2003]Status: DisposedITAT Delhi06 Mar 2019AY 2002-2003

Bench: Shri N.K.Billaiya & Smt. Beena A Pillai

For Appellant: : Sh. R.M.Mehta, Adv
Section 10(33)Section 143(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER ITA No. 4673/Del/2005 AY: 2002-03 M/s Escorts Ltd. ACIT 11, Scindia House, | vs. | Range 11 C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B ITA No. 84/Del/2006 AY: 2002-03 DCIT vs. | M/s Escorts Ltd. Central Circle 3 11, Scindia House, C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B ITA No. 2350/Del/2010 AY: 2003-04 DCIT vs. | M/s Escorts Ltd. Central Circle 3 11, Scindia House, C.P. New Delhi New Delhi 110 001 PAN: AAACE0074B & ITA No. 5408/Del/2014…

M/S Ambience Developers & Infrastructure Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands partly

ITA 6767/DEL/2015[2010-11]Status: DisposedITAT Delhi28 Feb 2019AY 2010-11

Bench: Shri N.K.Billaiya & Smt. Beena A Pillaiay: 2009-10 Ay: 2011-12 Dcit Vs. Ambience Developers & Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Developers & Vs. Dcit Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Hotels & Vs. Dcit Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aadca7906K (Appellant) (Respondent) Department By : Ms. Nidhi Srivastava, Cit, D.R. Assessee By : : Sh. T.R. Talwar, Adv. Date Of Hearing : 06/02/2019 Date Of Pronouncement: 28 /02/2019

For Appellant: : Sh. T.R. Talwar, AdvFor Respondent: Ms. Nidhi Srivastava, CIT, D.R
Section 60

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2009-10 AY: 2011-12 DCIT vs. Ambience Developers and Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Developers and vs. DCIT Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Hotels & vs. DCIT Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AADCA7906K (Appellan…

M/S Ambience Hotels & Resorts Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result appeal filed by assessee stands partly

ITA 6766/DEL/2015[2010-11]Status: DisposedITAT Delhi28 Feb 2019AY 2010-11

Bench: Shri N.K.Billaiya & Smt. Beena A Pillaiay: 2009-10 Ay: 2011-12 Dcit Vs. Ambience Developers & Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Developers & Vs. Dcit Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Hotels & Vs. Dcit Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aadca7906K (Appellant) (Respondent) Department By : Ms. Nidhi Srivastava, Cit, D.R. Assessee By : : Sh. T.R. Talwar, Adv. Date Of Hearing : 06/02/2019 Date Of Pronouncement: 28 /02/2019

For Appellant: : Sh. T.R. Talwar, AdvFor Respondent: Ms. Nidhi Srivastava, CIT, D.R
Section 60

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2009-10 AY: 2011-12 DCIT vs. Ambience Developers and Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Developers and vs. DCIT Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Hotels & vs. DCIT Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AADCA7906K (Appellan…

DCIT, New Delhi vs. M/S Ambience Developers and Infrastructure Pvt. Ltd, New Delhi

In the result appeal filed by assessee stands partly

ITA 6414/DEL/2015[2011-12]Status: DisposedITAT Delhi28 Feb 2019AY 2011-12

Bench: Shri N.K.Billaiya & Smt. Beena A Pillaiay: 2009-10 Ay: 2011-12 Dcit Vs. Ambience Developers & Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Developers & Vs. Dcit Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Hotels & Vs. Dcit Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aadca7906K (Appellant) (Respondent) Department By : Ms. Nidhi Srivastava, Cit, D.R. Assessee By : : Sh. T.R. Talwar, Adv. Date Of Hearing : 06/02/2019 Date Of Pronouncement: 28 /02/2019

For Appellant: : Sh. T.R. Talwar, AdvFor Respondent: Ms. Nidhi Srivastava, CIT, D.R
Section 60

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2009-10 AY: 2011-12 DCIT vs. Ambience Developers and Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Developers and vs. DCIT Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Hotels & vs. DCIT Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AADCA7906K (Appellan…

DCIT, New Delhi vs. M/S Ambience Developers and Infrastructure Pvt. Ltd, New Delhi

In the result appeal filed by assessee stands partly

ITA 6413/DEL/2015[2009-10]Status: DisposedITAT Delhi28 Feb 2019AY 2009-10

Bench: Shri N.K.Billaiya & Smt. Beena A Pillaiay: 2009-10 Ay: 2011-12 Dcit Vs. Ambience Developers & Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Developers & Vs. Dcit Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aaeca6894P Ay: 2010-11 Ambience Hotels & Vs. Dcit Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 Pan: Aadca7906K (Appellant) (Respondent) Department By : Ms. Nidhi Srivastava, Cit, D.R. Assessee By : : Sh. T.R. Talwar, Adv. Date Of Hearing : 06/02/2019 Date Of Pronouncement: 28 /02/2019

For Appellant: : Sh. T.R. Talwar, AdvFor Respondent: Ms. Nidhi Srivastava, CIT, D.R
Section 60

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘B’, NEW DELHI BEFORE SHRI N.K.BILLAIYA, ACCOUNTANT MEMBER AND SMT. BEENA A PILLAI, JUDICIAL MEMBER AY: 2009-10 AY: 2011-12 DCIT vs. Ambience Developers and Central Circle 20 Infrastructure P Ltd. New Delhi L-4, Green Park Extn. New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Developers and vs. DCIT Infrastructure P Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AAECA6894P AY: 2010-11 Ambience Hotels & vs. DCIT Resorts Pvt.Ltd. Central Circle 16 L-4, Green Park Extn. New Delhi New Delhi 110 016 PAN: AADCA7906K (Appellan…

ACIT, New Delhi vs. Shri Ashwani Khurana, New Delhi

ITA 2799/DEL/2015[2010-11]Status: DisposedITAT Delhi26 Feb 2019AY 2010-11

Bench: Shri Kuldip Singh & Shri B.R.R. Kumar

For Appellant: Sh. Ashok Khurana, AdvFor Respondent: Shri Nedhi Srivastava, CIT- DR
Section 10(34)Section 14A

…r the revenue challenging the impugned order passed by Ld. CIT(A) relied assessment order passed by the AO by relying on the decision rendered by Hon’ble Supreme Court of India in case of MAXOPP INVESTMENT LTD. vs. COMMISSIONER OF INCOME TAX, NEW DELHI (2018) 402 ITR 640(SC). However, on the other hand the Ld. AR for the assessee contended that AO proceeded to invoke the provisions contained u/s 14A read with Rule 8D without recording his dissatisfaction as to the working of computation of income given by the assessee that no expenses have been incurred by the assessee to earn the exempt income and also relied up…

DCIT Cen Cir 4(1) Cen RG 4, Mumbai vs. Oberoi Realty Ltd, Mumbai

ITA 3258/MUM/2017[2012-13]Status: DisposedITAT Mumbai25 Feb 2019AY 2012-13

Bench: Shri Sandeep Gosain () & Shri N.K. Pradhan () Assessment Year: 2012-13 Oberoi Realty Limited, The Deputy Commerz, 3Rd Floor, Vs. Commissioner Of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2012-13 The Deputy Commissioner Oberoi Realty Limited, Of Income Tax, Central Vs. Commerz, 3Rd Floor, Circle-4(1), Room No. International Business 1916, Air India Building, Park, Oberoi Garden Nariman Point, Mumbai- City, Off Western 400021. Express Highway, Goregaon (East), Mumbai-400063. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2013-14 Oberoi Realty Limited, The Deputy Commerz, 3Rd Floor, Vs. Commissioner Of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. Oberoi Realty Ltd. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2013-14 The Deputy Commissioner Oberoi Realty Limited, Of Income Tax, Central Vs. Commerz, 3Rd Floor, Circle-4(1), Room No. International Business 1916, Air India Building, Park, Oberoi Garden Nariman Point, Mumbai- City, Off Western 400021. Express Highway, Goregaon (East), Mumbai-400063. Pan No. Aabck0235H Appellant Respondent

For Appellant: Mr. R. Muralidhar, ARFor Respondent: Mr.Abhirama Karthikeyen, DR
Section 10(34)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI SANDEEP GOSAIN (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2012-13 Oberoi Realty Limited, The Deputy Commerz, 3rd floor, Vs. Commissioner of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. PAN No. AABCK0235H Appellant Respondent Assessment Year: 2012-13 The Deputy Commissioner Oberoi Realty Limited, of Income Tax, Central Vs. Commerz, 3rd floor, Circle…

Oberoi Realty Ltd, Mumbai vs. ACIT Cen Cr 4(1) Cr 4, Mumbai

ITA 2771/MUM/2017[2012-13]Status: DisposedITAT Mumbai25 Feb 2019AY 2012-13

Bench: Shri Sandeep Gosain () & Shri N.K. Pradhan () Assessment Year: 2012-13 Oberoi Realty Limited, The Deputy Commerz, 3Rd Floor, Vs. Commissioner Of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2012-13 The Deputy Commissioner Oberoi Realty Limited, Of Income Tax, Central Vs. Commerz, 3Rd Floor, Circle-4(1), Room No. International Business 1916, Air India Building, Park, Oberoi Garden Nariman Point, Mumbai- City, Off Western 400021. Express Highway, Goregaon (East), Mumbai-400063. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2013-14 Oberoi Realty Limited, The Deputy Commerz, 3Rd Floor, Vs. Commissioner Of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. Oberoi Realty Ltd. Pan No. Aabck0235H Appellant Respondent Assessment Year: 2013-14 The Deputy Commissioner Oberoi Realty Limited, Of Income Tax, Central Vs. Commerz, 3Rd Floor, Circle-4(1), Room No. International Business 1916, Air India Building, Park, Oberoi Garden Nariman Point, Mumbai- City, Off Western 400021. Express Highway, Goregaon (East), Mumbai-400063. Pan No. Aabck0235H Appellant Respondent

For Appellant: Mr. R. Muralidhar, ARFor Respondent: Mr.Abhirama Karthikeyen, DR
Section 10(34)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI SANDEEP GOSAIN (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2012-13 Oberoi Realty Limited, The Deputy Commerz, 3rd floor, Vs. Commissioner of Income International Business Tax, Central Circle-4(1), Park, Oberoi Garden City, Room No. 1916, Air Off Western Express India Building, Nariman Highway, Goregaon (East), Point, Mumbai-400021. Mumbai-400063. PAN No. AABCK0235H Appellant Respondent Assessment Year: 2012-13 The Deputy Commissioner Oberoi Realty Limited, of Income Tax, Central Vs. Commerz, 3rd floor, Circle…

DCIT (Ltu), New Delhi vs. M/S. the Oriental Insurance Co. Ltd., New Delhi

ITA 485/DEL/2016[2011-12]Status: DisposedITAT Delhi25 Feb 2019AY 2011-12

Bench: Hon’Ble, Shri G.D. Agrawal & Shri Kuldip Singh

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Shri Amit Katoch, Senior DR
Section 143Section 14ASection 44

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE HON’BLE VICE PRESIDENT, SHRI G.D. AGRAWAL and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.485/Del./2016 (ASSESSMENT YEAR : 2011-12) DCIT, Circle 1, LTU, vs. The Oriental Insurance Co. Ltd., New Delhi. A – 25/27, Asaf Ali Road, New Delhi – 110 002. (PAN : AAACT0627R) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Tarandeep Singh, Advocate REVENUE BY : Shri Amit Katoch, Senior DR Date of Hearing : 31.01.2019 Date of Order : 25.02.2019 O R D E R PER KULDIP SINGH, JUDICIAL MEMBER : The Appellant, DCIT, Circle 1, LTU, New Delhi (hereinafter…

Dy. Commissioner of Income Tax, Lucknow vs. M/S U.P Power Corp. Ltd., Lucknow

In the result, the appeal of the Revenue is dismissed

ITA 298/LKW/2017[2009-10]Status: DisposedITAT Lucknow22 Feb 2019AY 2009-10

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2009-10 Dy. Cit V. M/S U.P. Power Corporation Ltd. Range 6 Shakti Bhavan Lucknow 14, Ashok Marg Lucknow Tan/Pan:Aaacu5088M (Appellant) (Respondent) Appellant By: Shri S. K. Madhuk, Cit (Dr) Respondent By: Shri Sandeep Kumar, Fca Date Of Hearing: 08 02 2019 Date Of Pronouncement: 22 02 2019

For Appellant: Shri S. K. Madhuk, CIT (DR)For Respondent: Shri Sandeep Kumar, FCA
Section 14ASection 271(1)(c)

…sessee was having any exempt income or not, as also to examine the applicability of section 14A of the Act and the manner of disallowance, if any called for, in the light of the judgment of Hon'ble Supreme Court in the case of “MAXOP Investment Ltd. vs. CIT”, 402 ITR 640 (SC). The Tribunal has held (relevant portion at APB: 69-70) as follows:- “4.2 In the present case before us, though Learned A. R. has tried to demonstrate that the assessee did not earn any exempt income therefore, the assessee was not liable for disallowance u/s 14A but in our opinion the Assessing Officer should make a finding of fact as to wh…

M/S. Vega Investment & Leasing Co. Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 2009/DEL/2016[2012-13]Status: DisposedITAT Delhi20 Feb 2019AY 2012-13

Bench: Shri N. K. Billaiya & Ms. Suchitra Kambleassessment Year: 2012-13 Vega Investment & Leasing Co. Vs. The D.C.I.T Pvt Ltd. Circle – 26 (1), K – 39, Connaught Place New Delhi New Delhi Pan No. : Aaacv 2264 Q (Appellant) (Respondent)

For Appellant: Shri Vinod Kumar Bindal, CAFor Respondent: Ms. Ashima Neb, Sr. DR
Section 14ASection 14A(2)

…action and without considering the suo moto disallowance made by the Assessing Officer, the Assessing Officer has computed the disallowance u/s 14A r.w.r 8D which is against the ratio laid down by the Hon'ble Supreme Court in the case of Maxopp Investment Ltd 91 Taxmann.com 154.. 6. Per contra, the ld. DR pointed out that the assessee himself has agreed for disallowance, therefore, the contentions of the assessee are baseless. 7. We have heard the rival submissions and have given thoughtful consideration to the orders of the authorities below. Exhibit 16, which is computation of income of the assessee, clearly…

DCIT, New Delhi vs. M/S. Pavitra Commercial Ltd., New Delhi

In the result, appeal filed by assessee stands allowed for statistical purposes and appeal filed by revenue stands dismissed

ITA 6687/DEL/2013[2008-09]Status: DisposedITAT Delhi18 Feb 2019AY 2008-09

Bench: Smt. Beena A Pillai & Shri Prashant Maharishiay: 2008-09 Pavitra Commercials Ltd. Vs. Dy.Cit, C.C. 20 108, Ansal Bhawan 3Rd Floor, Ara 16, K.G.Marg Centre New Delhi 110 001 Jhandewalan Pan: Aaacp0299F Extension New Delhi 110 055 Ay: 2008-09 Dy.Cit, C.C. 20 Vs. Pavitra Commercials Ltd. 3Rd Floor, Ara Centre 108, Ansal Bhawan Jhandewalan Extension 16, K.G.Marg New Delhi 110 055 New Delhi 110 001 Pan: Aaacp0299F (Appellant) (Respondent)

For Appellant: Smt. Prem Lata Bansal, Sr.AdvFor Respondent: Smt. Naina Soin Kapil, Sr.DR
Section 142Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘D’, NEW DELHI BEFORE SMT. BEENA A PILLAI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AY: 2008-09 Pavitra Commercials Ltd. vs. Dy.CIT, C.C. 20 108, Ansal Bhawan 3rd Floor, ARA 16, K.G.Marg Centre New Delhi 110 001 Jhandewalan PAN: AAACP0299F Extension New Delhi 110 055 AY: 2008-09 Dy.CIT, C.C. 20 vs. Pavitra Commercials Ltd. 3rd Floor, ARA Centre 108, Ansal Bhawan Jhandewalan Extension 16, K.G.Marg New Delhi 110 055 New Delhi 110 001 PAN: AAACP0299F (Appellant) (Respondent) Assessee by : Smt. Prem Lata Bansal, Sr.Adv. Department by : Sm…

Pavitra Commercials Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal filed by assessee stands allowed for statistical purposes and appeal filed by revenue stands dismissed

ITA 5773/DEL/2013[2008-09]Status: DisposedITAT Delhi18 Feb 2019AY 2008-09

Bench: Smt. Beena A Pillai & Shri Prashant Maharishiay: 2008-09 Pavitra Commercials Ltd. Vs. Dy.Cit, C.C. 20 108, Ansal Bhawan 3Rd Floor, Ara 16, K.G.Marg Centre New Delhi 110 001 Jhandewalan Pan: Aaacp0299F Extension New Delhi 110 055 Ay: 2008-09 Dy.Cit, C.C. 20 Vs. Pavitra Commercials Ltd. 3Rd Floor, Ara Centre 108, Ansal Bhawan Jhandewalan Extension 16, K.G.Marg New Delhi 110 055 New Delhi 110 001 Pan: Aaacp0299F (Appellant) (Respondent)

For Appellant: Smt. Prem Lata Bansal, Sr.AdvFor Respondent: Smt. Naina Soin Kapil, Sr.DR
Section 142Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: ‘D’, NEW DELHI BEFORE SMT. BEENA A PILLAI, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER AY: 2008-09 Pavitra Commercials Ltd. vs. Dy.CIT, C.C. 20 108, Ansal Bhawan 3rd Floor, ARA 16, K.G.Marg Centre New Delhi 110 001 Jhandewalan PAN: AAACP0299F Extension New Delhi 110 055 AY: 2008-09 Dy.CIT, C.C. 20 vs. Pavitra Commercials Ltd. 3rd Floor, ARA Centre 108, Ansal Bhawan Jhandewalan Extension 16, K.G.Marg New Delhi 110 055 New Delhi 110 001 PAN: AAACP0299F (Appellant) (Respondent) Assessee by : Smt. Prem Lata Bansal, Sr.Adv. Department by : Sm…

Deputy Commissioner of Income Tax Circle-5(1)(2), Bangalore vs. M/S Prateek Apparels Pvt Ltd, Bangalore

In the result, the revenue’s appeal is dismissed

ITA 1208/BANG/2018[2014-15]Status: DisposedITAT Bangalore15 Feb 2019AY 2014-15
For Appellant: Shri Smarak Swain, JCIT(DR)For Respondent: Shri H.N.Khincha, CA
Section 143(2)Section 143(3)Section 14ASection 2(24)(x)Section 36(1)Section 36(1)(va)Section 43B

…per book and also copy of computation of taxable income where there is no income received by the assessee from exempted assets and supported his argument with the decision of the Hon’ble Page 4 of 6 Supreme Court in the case of Maxopp Investment Ltd. vs. CIT (402 ITR 640)(SC) and also the Special Bench decision in the case of Cheminvest Ltd. (supra). 8. We find that the argument of learned AR are supported by facts and judicial decisions. Whereas the learned DR could not controvert the findings of the CIT(A) or brought any cogent evidence or new facts in the course of hearing. Therefore, we are of the substantiv…

M/S Teekays Interior Solutions Pvt Ltd, Bangalore vs. Commissioner of Income Tax, Bangalore

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

ITA 400/BANG/2017[2011-12]Status: DisposedITAT Bangalore15 Feb 2019AY 2011-12

Bench: Shri N.V.Vasudevan, Vp & Shri B.R.Baskaran, Am

For Appellant: Smt.Sheetal, AdvocateFor Respondent: Shri P.V.Pradeepkumar, Addl.CIT
Section 14ASection 40

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “C”, BANGALORE Before Shri N.V.Vasudevan, VP & Shri B.R.Baskaran, AM ITA No.400/Bang/2017 : Asst.Year 2011-2012 M/s.Teekays Interior The Dy.Commissioner of Solutions Private Limited Vs. Income-tax, Circle 12(4) 22, Venkateswamy Naidu Bengaluru. Road, Koramangala Bengaluru – 560 051. PAN : AAACT5905G. (Appellant) (Respondent) Appellant by : Smt.Sheetal, Advocate Respondent by : Shri P.V.Pradeepkumar, Addl.CIT Date of Pronouncement : 15.02.2019 Date of Hearing : 22.01.2019 O R D E R Per B.R.Baskaran, AM : The assessee has filed this appeal challenging the ord…

Eveready Industries India Ltd., Kolkata vs. DCIT, Circle - 11(1), Kolkata

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

ITA 655/KOL/2018[2012-13]Status: DisposedITAT Kolkata13 Feb 2019AY 2012-13

Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Viswanethra Ravi

Section 115JSection 143(3)Section 144C(3)Section 14ASection 263Section 30Section 35Section 35DSection 36(1)(iv)Section 37

…ITA No. 655/KOL/2018 A.Y. 2012-2013 Eveready Industries India Limited IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA Before Shri P.M. Jagtap, Vice-President (KZ) and Shri S.S. Viswanethra Ravi, Judicial Member I.T.A. No. 655/KOL/2018 Assessment Year: 2012-2013 Eveready Industries India Limited,................................................Appellant 1, Middleton Street, Kolkata-700 071 [PAN: AAACE 5778 N] -Vs.- Deputy Commissioner of Income Tax,...........................................Respondent Circle-11(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700 069 Appearanc…

M/S Anushreya Investments Pvt. Ltd., Kolkata vs. ITO, Ward-3(1), Kolkata

Appeal is partly allowed for statistical purposes in above terms

ITA 1126/KOL/2017[A.Y- 2012-13,]Status: DisposedITAT Kolkata13 Feb 2019

Bench: Shri J.Sudhakar Reddy & Shri S.S.Godaraassessment Year: 2012-13 M/S Anushreya Investments Income Tax Officer, बनाम / Pvt. Ltd., 18,British India Ward-3(1), P-7, V/S. Street, 1St Floor, Room Chowringhee Square, No105, Kolkaa-69 Kolkta-69 [Pan No.Aaccca 3658 B] .. अपीलाथ" /Appellant ""यथ" /Respondent Shri Miraj D Shah,A Fca अपीलाथ" क" ओर से/By Appellant Shri C.J Singh, Jcit-Sr-Dr ""यथ" क" ओर से/By Respondent 29-01-2019 सुनवाई क" तार"ख/Date Of Hearing 13-02-2019 घोषणा क" तार"ख/Date Of Pronouncement आदेश /O R D E R Per S.S.Godara:- This Assessee’S Appeal For Assessment Year 2012-13 Arises Against The Commissioner Of Income Tax (Appeals)-9, Kolkata’S Order Dated 15.03.2017 Passed In Case No.213/Cit(A)-9/Wd.3(1)/2016-17/Kol Involving Proceedings 143(3) Of The Income Tax Act, 1961; In Short ‘The Act’. Heard Both The Parties. Case File(S) Perused. 2. The Assessee’S Sole Substantive Ground Seeks To Reverse Both The Lower Authorities Action Making Sec. 14 R.W.S. Rule 8D Disallowance Of ₹49,24,682/- Comprising Of Demat Charges, Proportionate Interest & Administrative Expenditure Of ₹1,43,005/-, ₹43,53,951/- & ₹4,27,726/-; Respectively. Learned Counsel’S First Argument During The Course Of Hearing Is That Both The Lower Authorities Have Erred In

Section 14Section 14A

…O Wd-3(1), Kol. Page 2 law as well as on facts in applying the above disallowance provision in case of shares held as stock-in-law. We find no merit in assessee’s instant argument as hon'ble apex court’s recent decision in Maxopp Investment Lt. vs. CIT (2018) 402 ITR 640 (SC) has settled the law that sec. 14A r.w.s. Rule 8D disallowance applies even in an instance of shares held as stock-in-trade. The assessee fails in its former argument therefore. 3. Next comes equally significant aspect of computation of the impugned disallowance in case of share held as stock-in-trade. This Tribunal’s co-ordinate bench’s deci…

The Addl. CIT, Range-1, Ahmedabad vs. M/S. Adani Enterprises Ltd., Ahmedabad

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

ITA 2531/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad12 Feb 2019AY 2010-11
Section 143(3)Section 14ASection 3

…confined to only such investments which have yielded tax exempt income during the relevant previous year. Learned Departmental Representative, on the other hand, relies on the judgment of Hon’ble Supreme Court in the case of Maxopp Investments Vs CIT [(2018) 402 ITR 640 (SC)] in support of the proposition that a reasonable disallowance in relation to exempt income must be made. That does not however dilute the principle laid down by the Special Bench in the case of Vireet Investments (supra). To this extent, we uphold the plea of the assessee and modify the orders of the authorities below by directing the Assess…

Adani Enterprises Ltd., Ahmedabad vs. The Addl. CIT, Range-1, Ahmedabad

In the result, the appeal of the Assessing Officer for the assessment year 2010-11 is dismissed

ITA 2305/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad12 Feb 2019AY 2010-11
Section 143(3)Section 14ASection 3

…confined to only such investments which have yielded tax exempt income during the relevant previous year. Learned Departmental Representative, on the other hand, relies on the judgment of Hon’ble Supreme Court in the case of Maxopp Investments Vs CIT [(2018) 402 ITR 640 (SC)] in support of the proposition that a reasonable disallowance in relation to exempt income must be made. That does not however dilute the principle laid down by the Special Bench in the case of Vireet Investments (supra). To this extent, we uphold the plea of the assessee and modify the orders of the authorities below by directing the Assess…