PCIT v. Atria Power Corporation Ltd.

142 Taxmann.com 413Supreme Court of India2022#5192 most cited

What is PCIT v. Atria Power Corporation Ltd. authority for?

Disallowance made under Section 14A read with Rule 8D cannot be added to the book profits computed for the purpose of Minimum Alternate Tax (MAT) under Section 115JB of the Income Tax Act.

22

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2022 to 2026.

Also referred to as

PCIT v Atria Power Corporation Ltd · 115JB · 14A · book profits · MAT · disallowance · Rule 8D · Supreme Court

Sections most often in play

Section 115JBSection 14ASection 143(3)Section 8DSection 154Section 10Section 143(1)Section 147

Issues it is cited on

safe harbour rulessection 72asection 32(2)preliminary expensessafe harboursection 43aactual payment basissection 43(6)section 72section 115jb(2)section 144c(3)benchmarking analysis

Judgments citing PCIT v. Atria Power Corporation Ltd.

ACIT, Central Circle- 27, New Delhi vs. A.R. Leasing Pvt. Ltd., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 9239/DEL/2019[2015-16]Status: DisposedITAT Delhi16 Feb 2023AY 2015-16

Bench: Sh. Anil Chaturvedi & Sh. Narender Kumar Choudharyacit Vs. A. R. Leasing Pvt. Ltd. Central Circle – 27, 305, 3Rd Floor, Bhanot New Delhi Corner, Pampost Enclave, Greater Kailash-1, New Delhi-110 048 Pan No. Aaaca 0423 A (Appellant) (Respondent) Assessee By Shri M. P. Rastogi, Adv. & Shri Rajeev Kumar, C.A. Revenue By Shri Kanav Bali, Sr. D.R. Date Of Hearing: 06.01.2023 Date Of Pronouncement: 16.02.2023 Order Per Anil Chaturvedi, Am: This Appeal Filed By The Revenue Is Directed Against The Order Dated 24.09.2019 Passed By The Commissioner Of Income Tax (Appeals)-31, New Delhi Relating To Assessment Year 2015-16. 2. Brief Facts Of The Case As Culled Out From The Material On Record Are As Under:-

Section 115JSection 143(3)Section 14ASection 68

…ench decisions of Tribunal takes precedence over other Tribunal decisions and therefore, Special Bench decision has a binding force on this Division Bench. We further find that Hon’ble Supreme Court in the case of PCIT vs. Atria Power Corporation Ltd. (2022) 142 Taxmann.com 413 (SC) had dismissed the SLP against the High Court ruling that the disallowance made u/s 14A could not be added to the income for the purpose of computation of income u/s 115JB of the Act. In view of the aforesaid facts, we find no reason to interfere with the order of CIT(A) on this issue and thus the ground of Revenue is dismissed. 17.…

M/S. E-Infochips Ltd., Ahmedabad vs. The ACIT, Circle-4, Ahmedabad

In the result, ground number 3 and 4 of the assessee’s appeal are allowed for statistical purposes

ITA 417/AHD/2017[2008-09]Status: DisposedITAT Ahmedabad20 Dec 2022AY 2008-09
For Appellant: Shri S.N. Soparkar, A.R. &For Respondent: Shri Atul Pandey, Sr. D.R
Section 115JSection 143(3)Section 14ASection 271

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member Assessment Year 2008-09 e-infochips Ltd., ACIT, 11/A-B, Chandra Colony, Circle-4, Off. C.G. Road, Vs Ahmedabad Ahmedabad (Respondent) PAN: AACCS1310E (Appellant) Assessee by: Shri S.N. Soparkar, A.R. & Shri Parin Shah, A.R. Revenue by: Shri Atul Pandey, Sr. D.R. Date of hearing : 19-10-2022 Date of pronouncement : 20-12-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the assessee against the order of the ld. Commiss…