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 367,154 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.

DCIT-15(3)(1), Mumbai vs. Reliance Power Ltd, Mumbai

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3424/MUM/2023[2015-16]Status: DisposedITAT Mumbai22 Jan 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 3043/Mum/2023&ITA No 3424/M/2023 [A Y: 2015-16] & ITA no 3044/Mum/2023& ITA No 3423/Mum/2023 [ AY 2018-19] The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani knowledge city, Room number 483, fourth Vs. Koparkhairane, floor, Aaykar Bhavan, Mumbai Navi Mumbai 7 400020 (Appellant) (Respondent) PAN No. AAACR2365L The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani…

DCIT-15(3)(1), Mumbai vs. Reliance Power Ltd, Navi Mumbai

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3423/MUM/2023[2018-19]Status: DisposedITAT Mumbai22 Jan 2024AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 3043/Mum/2023&ITA No 3424/M/2023 [A Y: 2015-16] & ITA no 3044/Mum/2023& ITA No 3423/Mum/2023 [ AY 2018-19] The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani knowledge city, Room number 483, fourth Vs. Koparkhairane, floor, Aaykar Bhavan, Mumbai Navi Mumbai 7 400020 (Appellant) (Respondent) PAN No. AAACR2365L The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani…

Reliance Power Limited, Mumbai Suburban vs. Deputy Commissioner of Income Tax Circle 15(3)(1), Mumbai

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3044/MUM/2023[2018-19]Status: DisposedITAT Mumbai22 Jan 2024AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 3043/Mum/2023&ITA No 3424/M/2023 [A Y: 2015-16] & ITA no 3044/Mum/2023& ITA No 3423/Mum/2023 [ AY 2018-19] The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani knowledge city, Room number 483, fourth Vs. Koparkhairane, floor, Aaykar Bhavan, Mumbai Navi Mumbai 7 400020 (Appellant) (Respondent) PAN No. AAACR2365L The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani…

Reliance Power Limited, Mumbai vs. Deputy Commissioner of Income Tax Circle, 15(3)(1), Mumbai

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3043/MUM/2023[2015-16]Status: DisposedITAT Mumbai22 Jan 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 3043/Mum/2023&ITA No 3424/M/2023 [A Y: 2015-16] & ITA no 3044/Mum/2023& ITA No 3423/Mum/2023 [ AY 2018-19] The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani knowledge city, Room number 483, fourth Vs. Koparkhairane, floor, Aaykar Bhavan, Mumbai Navi Mumbai 7 400020 (Appellant) (Respondent) PAN No. AAACR2365L The Deputy Commissioner of Reliance Power Ltd income tax – 15 (3) (1), H Block, first floor Mumbai Dhirubhai Ambani…

D.C.I.T., Circle-6(1), Kolkata vs. M/S Birla Corporation Ltd., Kolkata

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

ITA 1964/KOL/2019[2015-16]Status: DisposedITAT Kolkata16 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

Section 115JSection 14ASection 250Section 80I

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA "ी संजय गग", "या"यक सद"य एवं "ी "गर"श अ"वाल, लेखा सद"य के सम" Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 DCIT, Circle-6(1), Kolkata…………….......................…...……………....Appellant vs. M/s Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [PAN: AABCB2075J] C.O. 39/Kol/2019 (A/o I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16…

DCIT Central Circle-II, Faridabad vs. A2Z Green Waste Management Ltd, New Delhi

In the result, both the appeals of the revenue are dismissed

ITA 5104/DEL/2019[2014-15]Status: DisposedITAT Delhi16 Jan 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Anubhav Sharmadcit, Vs. A2Z Infra Engineers Ltd, O-116, 1St Floor Shopping Central Circle-2, Faridabad Mall, Arjun Marg, Dlf, Phase-1, Gurgaon (Appellant) (Respondent) Pan: Aaeca1203A Dcit, Vs. A2Z Green Waste Central Circle-2, Management Ltd, Faridabad Arjun Marg, Dlf, Phase-1, Gurgaon (Appellant) (Respondent) Pan: Aaeca1203A

For Appellant: Shri Sidharth Kothari, CAFor Respondent: Shri Zafarul Haque Tanweer, CIT DR
Section 143(3)Section 14ASection 36(1)(iii)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER DCIT, Vs. A2Z Infra Engineers Ltd, O-116, 1st Floor Shopping Central circle-2, Faridabad Mall, Arjun Marg, DLF, Phase-1, Gurgaon (Appellant) (Respondent) PAN: AAECA1203A DCIT, Vs. A2Z Green Waste Central circle-2, Management Ltd, Faridabad Arjun Marg, DLF, Phase-1, Gurgaon (Appellant) (Respondent) PAN: AAECA1203A Assessee by : Shri Sidharth Kothari, CA Revenue by: Shri Zafarul Haque Tanweer, CIT DR Date of Hearing 08/11/2023 Date of pronouncement 16/01/2024 O R D E R PER…

DCIT, CC-2, Faridabad vs. A2Z Infra Engineers Ltd., Gurgaon

In the result, both the appeals of the revenue are dismissed

ITA 5102/DEL/2019[2014-15]Status: DisposedITAT Delhi16 Jan 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Anubhav Sharmadcit, Vs. A2Z Infra Engineers Ltd, O-116, 1St Floor Shopping Central Circle-2, Faridabad Mall, Arjun Marg, Dlf, Phase-1, Gurgaon (Appellant) (Respondent) Pan: Aaeca1203A Dcit, Vs. A2Z Green Waste Central Circle-2, Management Ltd, Faridabad Arjun Marg, Dlf, Phase-1, Gurgaon (Appellant) (Respondent) Pan: Aaeca1203A

For Appellant: Shri Sidharth Kothari, CAFor Respondent: Shri Zafarul Haque Tanweer, CIT DR
Section 143(3)Section 14ASection 36(1)(iii)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER DCIT, Vs. A2Z Infra Engineers Ltd, O-116, 1st Floor Shopping Central circle-2, Faridabad Mall, Arjun Marg, DLF, Phase-1, Gurgaon (Appellant) (Respondent) PAN: AAECA1203A DCIT, Vs. A2Z Green Waste Central circle-2, Management Ltd, Faridabad Arjun Marg, DLF, Phase-1, Gurgaon (Appellant) (Respondent) PAN: AAECA1203A Assessee by : Shri Sidharth Kothari, CA Revenue by: Shri Zafarul Haque Tanweer, CIT DR Date of Hearing 08/11/2023 Date of pronouncement 16/01/2024 O R D E R PER…

DCIT-6(1)(1), Mumbai vs. Aasan Corporate Solutions Pvt. Ltd., Mumbai

In the result, the appeal of the assessee is partly allowed and appeal of the revenue is dismissed

ITA 2710/MUM/2023[2017-18]Status: DisposedITAT Mumbai05 Jan 2024AY 2017-18

Bench: Shri Vikas Awasthy & Shri Amarjit Singhaasan Corporate Vs. Dcit, Circle 6(1)(1) Solutions Private Limited 563B, 5Th Floor, 4Th Floor, Piramal Tower Aayakar Bhavan, Annexe, Ganpatrao Kadam Maharishi Karve Road, Marg Lower, Parel Mumbai - 400020 Mumbai – 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajca7980P Appellant .. Respondent Dcit, Circle 6(1)(1) Vs. M/S Aasan Corporate Room No. 504, 5 Th Floor, Solutions Private Limited Araykar Bhavan 4Th Floor, Piramal Tower M.K. Road, Annexe, Ganpatrao Mumbai – 400 020 Kadam Marg Lower, Parel Mumbai – 400013 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aajca7980P Appellant .. Respondent Appellant By : Ronak Doshi A/W Priyank Gandhi Respondent By : Ajay Chandra Date Of Hearing 21.12.2023 Date Of Pronouncement 05.01.2024

For Appellant: Ronak doshi a/wFor Respondent: Ajay Chandra
Section 14ASection 23(1)(a)Section 40

…P a g e | 1 ITA No.1968 & 2710/Mum/2023 Aasan Corporate Solutions Pvt. Ltd. Vs. DCIT, Circle 6(1)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Aasan Corporate Vs. DCIT, Circle 6(1)(1) Solutions Private Limited 563B, 5th Floor, 4th Floor, Piramal Tower Aayakar Bhavan, Annexe, Ganpatrao Kadam Maharishi Karve Road, Marg Lower, Parel Mumbai - 400020 Mumbai – 400013 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCA7980P Appellant .. Respondent DCIT, Circle 6(1)(1) Vs. M/s Aasan Corporate Room No. 504, 5 th Floor, Solutions…

Aasan Corporate Solutions Private Limited, Mumbai vs. DCIT Circle 6(1)(1), Mumbai

Appeal of the assessee is allowed for statistical purpose

ITA 1968/MUM/2023[2017-2018]Status: DisposedITAT Mumbai05 Jan 2024AY 2017-2018

Bench: Shri Vikas Awasthy & Shri Amarjit Singhaasan Corporate

For Appellant: Ronak doshi a/wFor Respondent: Ajay Chandra
Section 14ASection 23(1)(a)Section 40

…Page 1 ITA No. 1968 & 2710/Mum/2023 Aasan Corporate Solutions Pvt. Ltd. Vs. DCIT, Circle 6(1)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER Aasan Corporate ITA No.1968/Mum/2023 (A.Y. 2017-18) Solutions Private Limited 4th Floor, Piramal Tower Annexe, Ganpatrao Kadam Marg Lower, Parel Mumbai – 400013 Vs. DCIT, Circle 6(1)(1) 563B, 5th Floor, Aayakar Bhavan, Maharishi Karve Road, Mumbai - 400020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCA7980P Appellant Respondent ITA No.2710/Mum/2023 DCIT, Circle 6(1)(1) (A.Y.2017-18) R…

DCIT- 8(2)(1), Mumbai vs. Piramal Estates Private Limited, Mumbai

In the result, all the appeals of the revenue are dismissed

ITA 2015/MUM/2023[2010-11]Status: DisposedITAT Mumbai20 Dec 2023AY 2010-11

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Shri Ronak Doshi/Priyank Gandhi/MsFor Respondent: Shri N. V. Nadkarni, Ld. CIT-DR
Section 14ASection 24Section 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No. 1936/Mum/2023 (A.Y.2011-12) ITA No. 2016/Mum/2023 (A.Y.2013-14) & DCIT Circle 8(2) (1), R. No. 624, 6th floor, Aayakar Bhavan, M. K. Road, Mumbai-400 020 PAN: AACCA7777K ....... Appellant Vs. Piramal Estates Pvt. Ltd. 8th floor, Piramal Tower, Ganpatrao Kadam Marg, Lower Parel (W), Mumbai-400 013 ..... Respondent Appellant by : Shri Ronak Doshi/Priyank Gandhi/Ms. Jinal Jain, Ld. ARs Respondent by : Shri N. V. Nadkarni, Ld. CIT-DR Date of hearing : 08/11/2023 D…

Edelweiss Asset Management Ltd, Mumbai vs. ACIT, Circle-3(1)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 3020/MUM/2023[2017-18]Status: DisposedITAT Mumbai19 Dec 2023AY 2017-18

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Respondent: Shri P.D. Chougule , Sr. DR
Section 115JSection 143(3)Section 144Section 14ASection 154Section 25tSection 270ASection 37(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI KULDIP SINGH, JM & MS PADMAVATHY S, AM I.T.A. No. 3020/Mum/2023 (Assessment Year: 2017-18) Edelweiss Asset Management Ltd. ACIT, Circle-3(1)(2) 10th Floor, Edelweiss House, Off CST 607, 2nd Floor, Aayakar Bhavan, Road, Kalina Santacruz East, M.K. Road, Vs. Mumbai-400098. Mumbai-400020 PAN : AABCE8255H Appellant) : Respondent) : Shri Dhanesh Bafna a/w Ms. Hinal Appellant/Assessee by Shah, Ms. Hirali Desai& Sh. Hardik Nirmal, AR Revenue/Respondent by : Shri P.D. Chougule , Sr. DR Date of Hearing : 18.12.2023 Date of Pronouncement : 19.12.2023 O R…

Indiabullas Housing Finance Limited, Mumbai vs. DCIT, Central Circle-6(4), Mumbai

ITA 821/MUM/2023[2018-2019]Status: DisposedITAT Mumbai18 Dec 2023AY 2018-2019
For Appellant: Shri K. Gopal &For Respondent: Shri Rakesh Garg
Section 143(1)Section 143(3)Section 14ASection 37(1)

…2] reported in [2022] 143 taxmann.com 442 (Mumbai – Trib). On perusal of the same, we find that the Tribunal has, following the decision of Hon’ble Delhi High Court in the case of Principal Commission of Income Tax (Central) Vs. Era Infrastructure Pvt. Ltd. : 448 ITR 674 held that the explanation inserted in Section 14A vide Finance Act 2022 shall have prospective application. In view of the aforesaid, we hold that the Explanation inserted in Section 14A by Finance Act, 2022 shall not apply to Assessment Year 2019-2020. Accordingly, Ground No. ii. raised by the Revenue is dismissed as being without merit. 12.8. N…

Improve Finanacial Consultants (P) Ltd., Kolkata vs. ITO, Ward-4(1), Kolkata

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

ITA 728/KOL/2023[2013-14]Status: DisposedITAT Kolkata14 Dec 2023AY 2013-14

Bench: Sri Sanjay Garg & Dr. Manish Borad

Section 143(2)Section 144Section 14ASection 250

…आयकर अपीलीय अधिकरण कोलकाता 'बी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘B’ BENCH, KOLKATA श्री संजय गगग, न्याधयक सदस्य एवं डॉ. मनीष बोरड, लेखा सदस्य के समक्ष Before SRI SANJAY GARG, JUDICIAL MEMBER & DR. MANISH BORAD, ACCOUNTANT MEMBER I.T.A. No.: 728/KOL/2023 Assessment Year: 2013-14 Improve Financial Consultants Private Limited.......Appellant [PAN: AABCI 7964 D] Vs. ITO, Ward-1(4), Kolkata........................................Respondent Appearances: Assessee represented by: Sh. Nishant Maitin, A/R. Department represented by: Sh. Abhijit Kundu, CIT. Date of concluding the hearing : Sept…

Shah Coal Private Limited, Centre Point, Santacruz West vs. Assistant Commissioner of Income Tax, Circle Fourteen (Three) (Two), Mumbai

In the result, we allow both the appeal s of the assessee and direct the ld AO to recompute disallowance as indicated above

ITA 2802/MUM/2023[2016-17]Status: DisposedITAT Mumbai13 Dec 2023AY 2016-17

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Shri Radheshyam Sharma, ARFor Respondent: Shri Manish Ajudiya, DR
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA Nos. 2801 & 2802/Mum/2023 (Assessment Years: 2016-17 & 2017-18) Asst. Commissioner of Income Shah Coal Private Limited tax, 5t h Floor, Centre Point, Santacruz Circle fourteen (three)(two), Vs. West Mumbai Mumbai-400 054, (Appellant) (Respondent) PAN No. AADCS9231R Assessee by : Shri Radheshyam Sharma, AR Revenue by : Shri Manish Ajudiya, DR Date of hearing: 05.12.2023 Date of pronouncement : 13.12.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. These are the two appeals filed by Shah C…

Shah Coal Private Limited, Center Point, Santacruz West vs. Assistant Commissioner of Income Tax, Circle, Fourteen (Three)(Two), Mumbai

In the result, we allow both the appeal s of the assessee and direct the ld AO to recompute disallowance as indicated above

ITA 2801/MUM/2023[17-18]Status: DisposedITAT Mumbai13 Dec 2023

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Shri Radheshyam Sharma, ARFor Respondent: Shri Manish Ajudiya, DR
Section 14ASection 14A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA Nos. 2801 & 2802/Mum/2023 (Assessment Years: 2016-17 & 2017-18) Asst. Commissioner of Income Shah Coal Private Limited tax, 5t h Floor, Centre Point, Santacruz Circle fourteen (three)(two), Vs. West Mumbai Mumbai-400 054, (Appellant) (Respondent) PAN No. AADCS9231R Assessee by : Shri Radheshyam Sharma, AR Revenue by : Shri Manish Ajudiya, DR Date of hearing: 05.12.2023 Date of pronouncement : 13.12.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. These are the two appeals filed by Shah C…

Autumn Builders Limited., Kolkata vs. ITO, WD-1(1), Kolkata.

In the result, appeal of the assessee is allowed

ITA 883/KOL/2023[2012-13]Status: DisposedITAT Kolkata11 Dec 2023AY 2012-13

Bench: Shri Rajesh Kumar&Shri Sonjoy Sarma]

Section 131Section 142(1)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘ए’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA "ी राजेश कुमार, लेखा सद"य एवं "ी संजय शमा" "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member &Shri Sonjoy Sarma, Judicial Member] I.T.A. No. 883/Kol/2023 Assessment Year : 2012-13 Autumn Builders Ltd . Vs. ITO, Ward-1(1), Kolkata (PAN: AAHCA 5662 Q) Appellant / (अपीलाथ") Respondent / ( !यथ") Date of Hearing / सुनवाई 19.10.2023 क$ "त&थ Date of Pronouncement/ 11.12.2023 आदेश उ)घोषणा क$ "त&थ For the Appellant/ Shri S. K. Tulsiyan, Advocate Smt. Puja Somani, A.R "नधा"/रती क$ ओर से Smt. Neetu Singh,…

M/S. Deccan Mining Syndicate Pvt. Ltd., Bengaluru vs. Deputy Commissioner of Income-Tax, Circle-2(1)(1), Bangalore

In the result, the appeal of the assessee is allowed

ITA 774/BANG/2023[2017-18]Status: DisposedITAT Bangalore07 Dec 2023AY 2017-18

Bench: Shri Chandra Poojari & Smt. Madhumita Royassessment Year: 2017-18

For Appellant: Smt. Suman Lunkar, A.RFor Respondent: Shri Nischal B., D.R
Section 14ASection 234ASection 250

…nly clarificatory in nature and to be applied retrospectively in the assessment year 2017-18 also. In this regard, we are of the opinion that this issue also was considered by the Hon’ble Delhi High Court in the case of PCIT Vs. Era Infrastructure India Ltd. (141 Taxmann.com 289) (2022) wherein considered the amendment to section 14A of the Act by Finance Act, 2022 and observed as under: “22. The Hon’ble Delhi Court in the above has also considered the amendment to section 14A and has held that the explanation inserted to section 14A vide Finance Act 2022 is prospective in nature. The relevant observations are re…

Deputy Commissioner of Income Tax, CC-7(3), Mumbai vs. M/S Macrotech Developers Limited (Formerly Known As Lodha Developers Pvt Ltd.) (Successor of M/S Bellissimo Crown Buildmart Pvt Ltd), Mumbai

In the result, ITA No.2385/Mum/2022 filed by the learned

ITA 2385/MUM/2022[2015-16]Status: DisposedITAT Mumbai05 Dec 2023AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm M/S Macrotech Developers Limited The Dy. Commissioner Of Income (Formerly Known As Lodha Tax, Developers Pvt. Ltd.)(Successor Of Central Circle-7(3), M/S Bellissimo Crown Buildmart Room No,655, Aaykar Bhavan Vs. Pvt. Ltd.) 412, 4Th Floor, 17 G, Vardhman M.K. Road, Mumbai-400 020 Market, Cawasji Patel Street, Fort Mumbai 400001 (Appellant) (Respondent) Pan No. Aaacl1490J

For Appellant: Shri Niraj Seth, AdvocateFor Respondent: Shri Manoj Kumar, CIT DR
Section 115JSection 143(3)Section 144CSection 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM M/s Macrotech Developers Limited The Dy. Commissioner of Income (Formerly known as Lodha Tax, Developers Pvt. Ltd.)(Successor of Central Circle-7(3), M/s Bellissimo Crown Buildmart Room No,655, Aaykar Bhavan Vs. Pvt. Ltd.) 412, 4th Floor, 17 G, Vardhman M.K. Road, Mumbai-400 020 market, Cawasji patel Street, Fort Mumbai 400001 (Appellant) (Respondent) PAN No. AAACL1490J Assessee by : Shri Niraj Seth, Advocate Revenue by : Shri Manoj Kumar, CIT DR Date of hearing: 20.09.2023 Date of pronouncem…

ACIT(CC)-6(4), Mumbai vs. Indiabulls Housing Finance Limited, New Delhi

In the result, the appeal of the revenue stands dismissed

ITA 2683/MUM/2023[2020-21]Status: DisposedITAT Mumbai29 Nov 2023AY 2020-21

Bench: Shri Aby T. Varkey, Jm & Shri Amarjit Singh, Am आयकर अपील सं/ I.T.A. No.2683/Mum/2023 (निर्धारण वर्ा / Assessment Year: 2020-21) Acit(Cc)-6(4) बिधम/ Indiabulls Housing Room No. 1925, 19Th Floor, Finance Ltd Vs. Air India Building, Nariman M-62 & 63 1St Floor, Point, Mumbai-400021. Connaught Place, New Delhi-110001. स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Aabci3612A (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri K. Gopal Revenue By: Shri Hemankumar Chimanlal Leuva (Cit-Dr) सुनवाई की तारीख / Date Of Hearing: 13/11/2023 घोषणा की तारीख /Date Of Pronouncement: 29/11/2023 आदेश / O R D E R Per Aby T. Varkey, Jm:

For Appellant: Shri K. GopalFor Respondent: Shri Hemankumar Chimanlal Leuva
Section 14A

…prospective in operation w.e.f. 01.04.2022 for AY. 2022-23 onwards and not applicable to the relevant year under consideration and for such proposition cited the Hon’ble Delhi High Court decision in the case of PCIT Vs. Era Infrastructure (India) Ltd. (2022) 448 ITR 674 (Delhi). Therefore, he submitted that amendment is not applicable for the present case. According to Ld. AR, the verification ordered by Ld. CIT(A) is not necessary because all relevant facts were submitted before AO which fact is discernable from AO’s order and referred to assessment order para no. 3.1 and chart reproduced thereunder. Therefore,…

Deepak Pandurang Gadre, Ratnagiri vs. ACIT, Central Circle, Kolhapur

In the result, the appeal is partly allowed

ITA 1117/PUN/2023[2017-18]Status: DisposedITAT Pune07 Nov 2023AY 2017-18

Bench: Shri R.S. Syal(Virtual Hearing)

Section 14ASection 14A(2)Section 250

…carried out to section 14A by the Finance Act, 2022 providing that the disallowance u/s 14A would be called for notwithstanding no receipt of exempt income during the year. The Hon’ble Delhi High Court in Pr.CIT Vs. Era Infrastructure (India) Ltd. (2022) 448 ITR 674 (Delhi) has held such amendment to be prospective. In that view of the matter, the case 5 Deepak Pandurang Gadre pertaining to the A.Y. 2017-18 under consideration, the assessee having earned tax free dividend of Rs.40,750/-, will be governed by the ruling in Cheminvest (supra). Respectfully following the precedent, I order to restrict the di…