PCIT v. Era Infrastructure (India) Ltd.

141 Taxmann.com 289High Court2022#215 most cited

What is PCIT v. Era Infrastructure (India) Ltd. authority for?

Disallowance under Section 14A is not attracted when no exempt income is earned in the relevant assessment year. The amendment to Section 14A by the Finance Act, 2022, applies prospectively.

354

judgments rely on this decision, according to BharatTax’s citation analysis of 367,164 Indian tax judgments — from 2022 to 2026.

Also referred to as

PCIT v. Era Infrastructure (India) Ltd. · Section 14A · Disallowance under Section 14A · No exempt income · Expenditure for exempt income · Finance Act 2022 amendment · Prospective application of Section 14A amendment · Rule 8D · 448 ITR 674 · Delhi High Court 2022 · Disallowance in absence of exempt income

Also reported as

448 ITR 674

Sections most often in play

Section 14ASection 143(3)Section 8DSection 115JBSection 143(2)Section 1961Section 131Section 37(1)

Issues it is cited on

section 9(1)(ii)mat creditdisallowance under section 14adisallowance u/s 14astrategic investmentsection 115jb(2)section 14asection 14a(2)deduction under section 80iainterest free advancessection 80iccorporate guarantee

Judgments citing PCIT v. Era Infrastructure (India) Ltd.

Safal Properties Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 11(2), Kolkata

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

ITA 1334/KOL/2024[2016-2017]Status: DisposedITAT Kolkata23 Sept 2024AY 2016-2017

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2016-17

For Appellant: Saurabh Bagaria, ARFor Respondent: P.P Barman, Addl. CIT, Sr. DR
Section 115JSection 143(3)Section 14ASection 250Section 263Section 40Section 57

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2016-17 Safal Properties Private Limited, DCIT, Circle 11(2), Kolkata, 52/1, Amrapali Apartment, Aayakar Bhawan, P-7, Flat No. 53, 4th Floor, K.M. Chowringhee Square, Vs Naskar Road, Kolkata - 700069 Tollygunje - 700040 (PAN: AALCS2547J) (Appellant) (Respondent) Present for: Appellant by : Saurabh Bagaria, AR Ritesh Goel, AR Respondent by : P.P Barman, Addl. CIT, Sr. DR Date of Hearing : 11.09.2024 Date of Pronouncement : 23.09.2024 O R D E R PER RAKESH MI…

ACIT 14(I)(2), Mumbai vs. Godrej Properties Limited, Mumbai

ITA 3880/MUM/2024[2017-18]Status: DisposedITAT Mumbai20 Sept 2024AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyal1. Ita No. 3880/Mum/2024 (A.Y.2017-18)

For Appellant: Shri P. Suresh, Ld. DRFor Respondent: Shri Jeet Kamdar, Ld. AR
Section 14ASection 250

…the peculiar financial facts of the matter, there is no room left to sustain the arguments of the assessee. 12. To strengthen its arguments, the assessee relied upon following judicial pronouncements as under: i) Era Infrastructure (India) Ltd. reported in 448 ITR 674 (Delhi HC) Not applicable in the case of the ii) Keti Construction Ltd. reported in 162 taxmann.com 278 (MP HC) assesse. Neither the AO applied the same nor the bench iii) Edelweiss Asset Management Ltd. (ITA No. 3020/Mum/2023) considered the applicability. iv) M/s Welspun Steel Ltd. (ITA No. 2137/Mum/2021) (About retrospectivity of section 14A.…

M/S. Salarpuria Homes Pvt. Ltd., Kolkata vs. A.C.I.T., Circle - 1(2), Kolkata

In the result, appeal filed by the assessee is allowed

ITA 1360/KOL/2024[2014-2015]Status: DisposedITAT Kolkata13 Sept 2024AY 2014-2015

Bench: Shri Sonjoy Sarma, Judicial Member Shri Rakesh Mishra (Accountant Member)

Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA Shri Sonjoy Sarma, Judicial Member Shri Rakesh Mishra, Accountant Member I.T.A. No. 1360/Kol/2024 Assessment Year: 2014-15 M/s Salarpuria Homes Pvt. Ltd. C/o M/s Salarpuria Jalodia & Co., 7, C. R. Avenue, 3rd Floor, Kolkata - 700072 [PAN: AAHCS9410J] ......................…...……………....Appellant vs. ACIT, Circle -1(2), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata – 700069 .....…..........................…..…..... Respondent Appearances by: Assessee represented by : S. Jhajharia, A.R. Department represented by : Sanjoy Paul, Addl. CIT, Sr. DR Da…

Miranda Tools Private Limited, Mumbai vs. DCIT-7(3)(2), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 1599/MUM/2023[2014-15]Status: DisposedITAT Mumbai13 Sept 2024AY 2014-15

Bench: Shri Om Prakash Kant & Shri Sunil Kumar Singh

For Appellant: Shri Anuj KisnadwalaFor Respondent: Smt. Mahita Nair, Sr.DR
Section 14Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. A.Y. Appellant Respondent Deputy Miranda Tools Private Commissioner of 1598/Mum/2023 2013-14 Limited, Income Tax, 005, Peninsula Tower, -7(3)(2), Peninsula Corporate Aayakar Bhavan, Park, M.K. Road, Ganpatrao Kadam Mumbai Marg, 1599/Mum/2023 2014-15 Lower Parel, Mumbai PAN: AAACP7200N For Assessee : Shri Anuj Kisnadwala, For Revenue : Smt. Mahita Nair, Sr.DR Date of Hearing : 06-08-2024 Date of Pronouncement : 13-09-2024 O R D E R PER OM PRAKASH KAN…

Miranda Tools Private Limited, Mumbai vs. DCIT RG 7(3)(2), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 1598/MUM/2023[2013-14]Status: DisposedITAT Mumbai13 Sept 2024AY 2013-14

Bench: Shri Om Prakash Kant & Shri Sunil Kumar Singh

For Appellant: Shri Anuj KisnadwalaFor Respondent: Smt. Mahita Nair, Sr.DR
Section 14Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH, JUDICIAL MEMBER ITA No. A.Y. Appellant Respondent Deputy Miranda Tools Private Commissioner of 1598/Mum/2023 2013-14 Limited, Income Tax, 005, Peninsula Tower, -7(3)(2), Peninsula Corporate Aayakar Bhavan, Park, M.K. Road, Ganpatrao Kadam Mumbai Marg, 1599/Mum/2023 2014-15 Lower Parel, Mumbai PAN: AAACP7200N For Assessee : Shri Anuj Kisnadwala, For Revenue : Smt. Mahita Nair, Sr.DR Date of Hearing : 06-08-2024 Date of Pronouncement : 13-09-2024 O R D E R PER OM PRAKASH KAN…

New India Retailing & Investment Ltd., Kolkata vs. D.C.I.T., Circle - 5(1), Kolkata

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

ITA 1285/KOL/2024[2018-2019]Status: DisposedITAT Kolkata11 Sept 2024AY 2018-2019

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

Section 14A

…आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री संजय शमाा, न्याधयक सदस्य एवं श्री संजय अवस्थी, लेखा सदस्य के समक्ष Before SRI SONJOY SARMA, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No.: 1285/KOL/2024 Assessment Year: 2018-19 New India Retailing & Investment Ltd.....................................Appellant [PAN: AAACN 9970 F] Vs. DCIT, Circle-5(1), Kolkata.....................................................Respondent Appearances: Assessee represented by: Kinjal Buaria, CA and Aritra Nag, Adv. Department represented…

Artline Financial Management Pvt. Ltd., Kolkata vs. I.T.O., Ward - 14(3), Kolkata

In the result, appeal filed by the assessee is allowed

ITA 1297/KOL/2024[2013-2014]Status: DisposedITAT Kolkata10 Sept 2024AY 2013-2014

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

Section 14Section 14ASection 37

…आयकर अपीलीय अधिकरण कोलकाता 'एसएमसी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA श्री संजय शमाा, न्याधयक सदस्य एवं श्री संजय अवस्थी, लेखा सदस्य के समक्ष Before SRI SONJOY SARMA, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No.: 1297/KOL/2024 Assessment Year: 2013-14 Artline Financial Management Pvt. Ltd....................................Appellant [PAN: AAGCA 8252 K] Vs. ITO, Ward-14(3), Kolkata......................................................Respondent Appearances: Assessee represented by: P.K. Himmat Singhka, AR. Department represented by: Prabir Gupt…

DCIT CC 1(1), Mumbai vs. Edel Finance Company Ltd., Mumbai

In the result, appeal of the revenue is partly allowed, and cross objection of the assessee is dismissed as withdrawn

ITA 3025/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Sept 2024AY 2018-19

Bench: Shri Anikesh Banerjee () & Shri Girish Agrawal ()

Section 10(34)Section 143(3)Section 144BSection 14ASection 250Section 94(7)

…1 ITA No.3025 /Mum/2024 & CO 134/Mum/2024 Edel Finance Company Limited IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE (JUDICIAL MEMBER) AND SHRI GIRISH AGRAWAL (ACCOUNTANT MEMBER) ITA No.3025 /Mum/2024 (Assessment Year: 2018-19) DCIT, CC 1(1), Mumbai vs Edel Finance Company Ltd 905, 9th Floor, Pratishtha Bhavan Edelwiess House, Off CST Road M.K. Road, Mumbai Kalina, Santacruz(East), Mumbai- 400 098 PAN: AAFCA9652C APPELLANT RESPONDENT CO.No.134/Mum/2024 (Arising out of ITA No.3025 /Mum/2024) (Assessment Year: 2018-19) Edel Finance Company Ltd vs DCIT, CC 1(1), Mumb…

Pee Kay Vanijya Pvt. Ltd., Kolkata vs. DCIT, Cir. 7(1), Kolkata

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

ITA 851/KOL/2024[2017-18]Status: DisposedITAT Kolkata09 Sept 2024AY 2017-18

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishraassessment Year: 2017-18

For Appellant: Akkal Dudhwewala, ARFor Respondent: S.B. Chakraborthy, JCIT, Sr. DR
Section 143(3)Section 14ASection 234BSection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA BEFORE SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER AND SHRI RAKESH MISHRA, ACCOUNTANT MEMBER Assessment Year: 2017-18 Pee Kay Vanijya Private Limited, DCIT, Circle-7(1), Kolkata, 7C, Kiran Shankar Roy Road, Aayakar Bhawan, P-7, Hasting Chambers, 4th Floor, Vs Chowringhee Square, Kolkata - 700001 Kolkata - 700069 (PAN: AABCP6488P) (Appellant) (Respondent) Present for: Appellant by : Akkal Dudhwewala, AR Respondent by : S.B. Chakraborthy, JCIT, Sr. DR Date of Hearing : 20.08.2024 Date of Pronouncement : 09.09.2024 O R D E R PER RAKESH MISHRA, ACCOUNTANT MEMB…

Multiple Concrete Pvt. Ltd., Kolkata vs. ITO, Ward-10(3), Kolkata

The appeal of the assessee is allowed

ITA 341/KOL/2024[2012-13]Status: DisposedITAT Kolkata30 Aug 2024AY 2012-13

Bench: Shri Sonjoy Sarma, Jm & Shri Rakesh Mishra, Am Income Tax Officer, Ward 10(3), Multiple Concrete Pvt. Ltd. 13, Dum Dum Road, Aaykar Bhavan, Vs. Kolkata-700 074 P-7, Chowringhee Square, Kolkata (Appellant) (Respondent) Pan No. Aabcm7885R Assessee By : Shri S.K. Tulsiyan & Ms. Puja Somani, Ars Revenue By : Shri Rakesh Kumar Das, Dr Date Of Hearing: 06.08.2024 Date Of Pronouncement : 30.08.2024

For Appellant: Shri S.K. Tulsiyan &For Respondent: Shri Rakesh Kumar Das, DR
Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE SHRI SONJOY SARMA, JM AND SHRI RAKESH MISHRA, AM Income Tax Officer, Ward 10(3), Multiple Concrete Pvt. Ltd. 13, Dum Dum Road, Aaykar Bhavan, Vs. Kolkata-700 074 P-7, Chowringhee Square, Kolkata (Appellant) (Respondent) PAN No. AABCM7885R Assessee by : Shri S.K. Tulsiyan & Ms. Puja Somani, ARs Revenue by : Shri Rakesh Kumar Das, DR Date of hearing: 06.08.2024 Date of pronouncement : 30.08.2024 O R D E R PER SONJOY SARMA, JM: 01. The caption appeal filed by the assessee is directed against the order passed by the National Faceless Appeal Centre, De…

The Hindustan Times Ltd., New Delhi vs. Addl. CIT, Special Range- 9, New Delhi

In the result, the appeal of the assessee for A

ITA 4413/DEL/2017[2012-13]Status: DisposedITAT Delhi29 Aug 2024AY 2012-13

Bench: Sh. Challa Nagendra Prasad & Sh. M Balaganeshaddl. Cit, Vs. M/S. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 Pan No. Aaact 4962 F (Appellant) (Respondent) & Ita Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/S. The Hindustan Times Vs. Deputy Commissioner Of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 Pan No. Aaact 4962 F (Appellant) (Respondent)

Section 115JSection 143(3)Section 14ASection 8D(2)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SH. CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SH. M BALAGANESH, ACCOUNTANT MEMBER Addl. CIT, Vs. M/s. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) And ITA Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/s. The Hindustan Times Vs. Deputy Commissioner of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) Assessee by Shri Rohit Jain,…

The Hindustan Times Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee for A

ITA 2957/DEL/2017[2012-13]Status: DisposedITAT Delhi29 Aug 2024AY 2012-13

Bench: Sh. Challa Nagendra Prasad & Sh. M Balaganeshaddl. Cit, Vs. M/S. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 Pan No. Aaact 4962 F (Appellant) (Respondent) & Ita Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/S. The Hindustan Times Vs. Deputy Commissioner Of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 Pan No. Aaact 4962 F (Appellant) (Respondent)

Section 115JSection 143(3)Section 14ASection 8D(2)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SH. CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SH. M BALAGANESH, ACCOUNTANT MEMBER Addl. CIT, Vs. M/s. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) And ITA Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/s. The Hindustan Times Vs. Deputy Commissioner of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) Assessee by Shri Rohit Jain,…

The Hindustan Times Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee for A

ITA 2956/DEL/2017[2011-12]Status: DisposedITAT Delhi29 Aug 2024AY 2011-12

Bench: Sh. Challa Nagendra Prasad & Sh. M Balaganeshaddl. Cit, Vs. M/S. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 Pan No. Aaact 4962 F (Appellant) (Respondent) & Ita Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/S. The Hindustan Times Vs. Deputy Commissioner Of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 Pan No. Aaact 4962 F (Appellant) (Respondent)

Section 115JSection 143(3)Section 14ASection 8D(2)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SH. CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SH. M BALAGANESH, ACCOUNTANT MEMBER Addl. CIT, Vs. M/s. The Hindustan Times Special Range – 9, Ltd., New Delhi 18-20, K. G. Marg, New Delhi – 110 001 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) And ITA Nos. 2957 & 2956/Del/2017 (Assessment Years : 2012-13 & 2011-12) M/s. The Hindustan Times Vs. Deputy Commissioner of Ltd., Income Tax 18-20, K. G. Marg, Circle 25(1), C.R. Building New Delhi – 110 001 New Delhi – 110 002 PAN No. AAACT 4962 F (APPELLANT) (RESPONDENT) Assessee by Shri Rohit Jain,…

Antara Senior Living Limited, Delhi vs. Deputy Commissioner of Income Tax, Circle 1(1), Delhi

In the result, appeal of the assessee is partly allowed

ITA 1225/DEL/2024[2018-19]Status: DisposedITAT Delhi28 Aug 2024AY 2018-19

Bench: Shri Vikas Awasthy & Shri Naveen Chandraआअसं.1225/िद"ी/2024 (िन.व. 2018-19) Antara Senior Living Ltd., Block-B, 1 Max House, Dr. Jha Marg, Okhla, Delhi 110020 ...... अपीलाथ"/Appellant Pan: Aajca-4540-R बनाम Vs. Deputy Commissioner Of Income Tax, Circle 1(1), C.R Building, I.P Estate, ..... "ितवादी/Respondent Delhi अपीलाथ" "ारा/ Appellant By : S/Shri Priyam Bhatnagar & Rohar Khare, Advocates "ितवादी"ारा/Respondent By : Shri Kanv Bali, Sr.Dr सुनवाई क" ितिथ/ Date Of Hearing : 07/08/2024 घोषणा क" ितिथ/ Date Of Pronouncement : 28/08/2024 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [In Short ‘The Cit(A)’] Dated 03.02.2024, For Assessment Year 2018-19. 2. The Solitary Issue Raised By The Assessee In Appeal Is Against Disallowance U/S. 14A Of The Act (Hereinafter Referred To As ‘The Act’).

For Appellant: S/Shri Priyam Bhatnagar, and Rohar Khare, AdvocatesFor Respondent: Shri Kanv Bali, Sr.DR
Section 143(3)Section 14ASection 14A(2)

…आयकर अपीलीय अिधकरण िद"ी पीठ “ए”, िद"ी "ी िवकास अव"थी, "ाियक सद" एवं "ी नवीन चं", लेखाकार सद" के सम" IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”, DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER आअसं.1225/िद"ी/2024 (िन.व. 2018-19) Antara Senior Living Ltd., Block-B, 1 Max House, Dr. Jha Marg, Okhla, Delhi 110020 ...... अपीलाथ"/Appellant PAN: AAJCA-4540-R बनाम Vs. Deputy Commissioner of Income Tax, Circle 1(1), C.R Building, I.P Estate, ..... "ितवादी/Respondent Delhi अपीलाथ" "ारा/ Appellant by : S/Shri Priyam Bhatnagar, and Rohar Khare, Advocates "ितवादी"ारा/Resp…

Elegant Dealmark Pvt. Ltd., Kolkata vs. ITO, Ward-5(3), Kolkata

In the result, the appeal filed by the assessee is partly allowed, with Ground No

ITA 51/KOL/2024[2012-13]Status: DisposedITAT Kolkata21 Aug 2024AY 2012-13

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 131Section 14ASection 68

…Eveready Industries India Ltd. vs. PCIT reported in [2020] 114 taxmann.com 610 (Kolkata - Trib.), (ii) PCIT vs. Vardhman Chemtech (P.) Ltd. reported in [2020] 423 ITR 241 (Punjab & Haryana) and in the case of (iii) ERA Infrastructure (India) Ltd. reported in 448 ITR 674 (Delhi)[20-07-2022], the appellant deserves relief. The relevant extracts from the three authorities are as under: (i) Eveready Industries India Ltd.: “33. From the assessment order as also from the facts on record it appeared that during the relevant year the appellant did not earn any dividend from its investments made in shares of other bodies…

Rajapalayam Mills Ltd., Virudhunagar vs. DCIT, Corporate Circle, Madurai

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

ITA 1251/CHNY/2024[2017-18]Status: DisposedITAT Chennai14 Aug 2024AY 2017-18

Bench: Shri S.S. Viswanethra Ravi & Shri Jagadishआयकर अपील सं./I.T.A. No.1251/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 Rajapalayam Mills Limited, Vs. The Deputy Commissioner Of Post Box No. 1, Rajapalayam Mills Income Tax, Premises, P.A.C. Ramasamy Raja Corporate Circle, Salai, Rajapalayam, Madurai. Virudhunagar 626 117. [Pan: Aaacr8897F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri S. Muralidhar, F.C.A. ""थ" की ओर से/Respondent By : Shri R. Clement Ramesh Kumar, Cit सुनवाई की तारीख/ Date Of Hearing : 12.08.2024 घोषणा की तारीख /Date Of Pronouncement : 14.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal By The Assessee Is Directed Against The Order Dated 30.03.2024 Passed By The Ld. Principal Commissioner Of Income Tax, Madurai Under Section 263 Of The Income Tax Act, 1961 [“Act” In Short] For The Assessment Year 2017-18. 2. The Assessee Raised 9 Grounds Amongst Which The Only Issue Emanates For Our Consideration Is Whether The Ld. Pcit Is Justified In Directing The Assessing Officer For Working Out Disallowance Under Section 2

For Appellant: Shri S. Muralidhar, F.C.AFor Respondent: Shri R. Clement Ramesh Kumar, CIT
Section 142(1)Section 14ASection 2Section 263

…आयकर अपीलीय अिधकरण, ’सी’ "ायपीठ, चे"ई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ी एसएस िव"ने" रिव, "ाियक सद" एवं "ी जगदीश, लेखा सद" के सम" । Before Shri S.S. Viswanethra Ravi, Judicial Member & Shri Jagadish, Accountant Member आयकर अपील सं./I.T.A. No.1251/Chny/2024 िनधा"रण वष"/Assessment Years: 2017-18 Rajapalayam Mills Limited, Vs. The Deputy Commissioner of Post Box No. 1, Rajapalayam Mills Income Tax, Premises, P.A.C. Ramasamy Raja Corporate Circle, Salai, Rajapalayam, Madurai. Virudhunagar 626 117. [PAN: AAACR8897F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant by : Shri S.…

Jagriti Job Finder Private Limited, New Delhi vs. PCIT Central - 1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2133/DEL/2024[2018-19]Status: DisposedITAT Delhi14 Aug 2024AY 2018-19

Bench: Ms.Madhumita Roy & Shri Avdhesh Kumar Mishram/S Jagriti Job Finder Vs. Pcit (Central) -1 Private Limited, 222, 2Nd New Delhi-110055 Floor Hemkunt Chamber, 89, Nehru Place, New Delhi – 110019 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aabcj5974E Appellant .. Respondent

For Appellant: Sh. Ashwani Kumar &For Respondent: Sh. Sanjay Pandey
Section 139(1)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 14ASection 263

…P a g e | 1 M/s Jagriti Job Finder Pvt. Ltd. Vs. PCIT(Central)-1 Delhi IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, DELHI BEFORE MS.MADHUMITA ROY, JUDICIAL MEMBER & SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER M/s Jagriti Job Finder Vs. PCIT (Central) -1 Private Limited, 222, 2nd New Delhi-110055 Floor Hemkunt Chamber, 89, Nehru Place, New Delhi – 110019 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AABCJ5974E Appellant .. Respondent Appellant by : Sh. Ashwani Kumar & Sh. Ankur Agarwal Respondent by : Sh. Sanjay Pandey Date of Hearing 05.08.2024 Date of Pronouncement 14.08.2024 O R D E R PER MADHUMITA ROY, JM: T…

Shriram Finance Limited, Chennai vs. DCIT, Corporate Circle 3(1), Chennai

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

ITA 173/CHNY/2024[2020-2021]Status: DisposedITAT Chennai09 Aug 2024AY 2020-2021

Bench: Shri S.S. Viswanethra Ravi & Shri S.R. Raghunathaआयकर अपील सं./I.T.A. No.173/Chny/2024 िनधा"रण वष"/Assessment Year: 2020-21 Shriram Finance Limited Vs. The Deputy Commissioner Of [Formerly Known As Shriram Transport Income Tax, Finance Company Limited), Corporate Circle 3(1), Sri Towers, Plot No. 14A, South Phase, Chennai. Industrial Estate, Guindy, Chennai 600 017. [Pan: Aaacs7018R] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri R. Sivaraman, Advocate ""थ" की ओर से/Respondent By : Shri R.V. Aroon Prasad, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 25.07.2024 घोषणा की तारीख /Date Of Pronouncement : 09.08.2024 आदेश /O R D E R Per S.S. Viswanethra Ravi: This Appeal Filed By The Assessee Is Directed Against The Order Dated 29.11.2023 Passed By The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi For The Assessment Year 2020-21. 2. Ground No. 1 Is General In Nature & Requires No Adjudication.

For Appellant: Shri R. Sivaraman, AdvocateFor Respondent: Shri R.V. Aroon Prasad, Addl. CIT
Section 14ASection 2

…no exempt income earned and the disallowance as confirmed by the ld. 3 I.T.A. No.173/Chny/24 CIT(A) is not justified. He drew our attention to the decision of the Hon’ble High Court of Delhi in the case of PCIT v. Era Infrastructure (India) (P.) Ltd. [2022] 141 Taxmann.com 289 (Delhi) and submits that the Hon’ble High Court, in similar set of facts, held the amendment by inserting Explanation through Finance Bill, 2022 is applicable only from 01.04.2022 relevant to the assessment year 2022-23, but, not to earlier years. He argued that the assessment year under consideration is 2020-21 and the CBDT circular as r…

Pharmed Ltd, Mumbai vs. Assistant Commissioner of Income Tax, Circle-2(2)(2), Mumbai

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

ITA 3097/MUM/2024[2017-18]Status: DisposedITAT Mumbai09 Aug 2024AY 2017-18

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeeassessment Year 2017-18

For Appellant: Shri Vijay MehtaFor Respondent: Ms. Madhu Malati Ghosh, CIT-DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “C” BENCH : MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year 2017-18 Pharmed Limited, The Asst. Commissioner of 141, Pharmed House, Income Tax, Walchand Hirachand Marg, vs. Circle-2(2)(2), Mumbai Mumbai PAN : AAACP2191A (Appellant) (Respondent) For Assessee : Shri Vijay Mehta For Revenue : Ms. Madhu Malati Ghosh, CIT-DR Date of Hearing : 08-08-2024 Date of Pronouncement : 09-08-2024 ORDER PER B.R. BASKARAN, A.M : The assessee has filed this appeal challenging the order dt. 01-05-2024 passed by the lear…

ACIT, Central Circle-6(4), Mumbai vs. Indiabulls Real Estate Limited, Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 1379/MUM/2024[2020-21]Status: HeardITAT Mumbai08 Aug 2024AY 2020-21

Bench: Shri B.R. Baskaran & Shri Anikesh Banerjeeassessment Year 2020-21 Acit, Central Circle-6(4) Indiabulls Real Estate Limited, Air India Building, M62 & 63, 1St Floor, Nariman Point, Vs. Connaught Place, Mumbai. New Delhi Pan : Aabci5194F (Appellant) (Respondent) For Assessee : Shri K. Gopal, Adv. & Shri Om Kandalkar, Adv. For Revenue : Ms. Madhu Malati Ghosh, Cit-Dr Date Of Hearing : 07-08-2024 Date Of Pronouncement : 08-08-2024 Order Per B.R. Baskaran, A.M :

For Appellant: Shri K. Gopal, Adv. &For Respondent: Ms. Madhu Malati Ghosh, CIT-DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “C” BENCH : MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI ANIKESH BANERJEE, JUDICIAL MEMBER Assessment Year 2020-21 ACIT, Central Circle-6(4) Indiabulls Real Estate Limited, Air India Building, M62 & 63, 1st Floor, Nariman Point, vs. Connaught Place, Mumbai. New Delhi PAN : AABCI5194F (Appellant) (Respondent) For Assessee : Shri K. Gopal, Adv. & Shri Om Kandalkar, Adv. For Revenue : Ms. Madhu Malati Ghosh, CIT-DR Date of Hearing : 07-08-2024 Date of Pronouncement : 08-08-2024 ORDER PER B.R. BASKARAN, A.M : The Revenue has filed this appeal challenging t…