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.

Girnar Software Private Limited, 6Th Floor, Jaipur Textile Market, B-2, Near Model Town, Malviya Nagar, Jaipur vs. PCIT – 2, Jaipur, New Central Revenue Building

In the result, the appeal of the assessee is allowed

ITA 330/JPR/2023[2018-19]Status: DisposedITAT Jaipur28 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri PC Parwal, CAFor Respondent: Shri Arvind Kumar (CIT)
Section 142(1)Section 143(2)Section 14ASection 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”A” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 330/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19. cuke Girnar Software Pvt. Ltd., The PCIT-2, 6th Floor, Jaipur Textile Market, Vs. Jaipur. B-2, Near Model Town, Malviya Nagar, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AACCG 7277 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Sh…

Puspak Steel Industries Private Limited, Pune vs. Assistant Commissioner of Income Tax, Circle-10, Pune

In the result, the appeal filed by the assessee stands partly allowed

ITA 852/PUN/2023[2014-15]Status: DisposedITAT Pune22 Aug 2023AY 2014-15
For Appellant: Shri Sarvesh KhandelwalFor Respondent: Shri M. G. Jasnani
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.852/PUN/2023 िनधा"रण वष" / Assessment Year : 2014-15 Puspak Steel Industries Vs. ACIT, Circle-10, Pune. Private Limited, Gat No.119, Alandi Markal Road, Village- Dhanore, Pune- 412105. PAN : AABCP0081C Appellant Respondent Assessee by : Shri Sarvesh Khandelwal Revenue by : Shri M. G. Jasnani Date of hearing : 10.08.2023 Date of pronouncement : 22.08.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directe…

Career Point Limited, Kota, Rajasthan vs. Principal Commissioner of Income Tax, Udaipur, Rajasthan

In the result, the appeal of the assessee is allowed

ITA 242/JPR/2023[2018-19]Status: DisposedITAT Jaipur22 Aug 2023AY 2018-19

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Vijay Goyal, CA &For Respondent: Shri Ajey Malik (CIT)
Section 143(2)Section 143(3)Section 14ASection 263

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Jh lanhi xkslkbZ] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;arHkkbZ] ys[kk lnL; ds le{k BEFORE: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 242/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19. cuke Career Point Limited, The Principal Commissioner of Vs. 112-B, Shakti Nagar, Income-tax, Kota. Udaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No. AABCC 4963 A vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Vijay Goyal, CA & Shri…

The Dy. Commissioner of Income Tax, Central Circle-6(4), Mumbai vs. Yaari Digital Integrated Services Limited, Mumbai

In the result, the appeal filed by the Revenue standsdismissed

ITA 1553/MUM/2023[2018-2019]Status: DisposedITAT Mumbai18 Aug 2023AY 2018-2019

Bench: Shri Prashant Maharishi & Shri Narender Kumar Choudhrydcit, Central Circle - 6(4) M/S. Yaari Digital Integarted Room No. 1925, 1St Floor Services Ltd. Air India Building Plot No. 448-451, Phase-V Vs. Nariman Point Udyog Vihar, Gurgaon, Mumbai 400021 (Haryana) 122016 Pan – Aabci7129N Appellant Respondent Appellant By: Shri Raj Singh Meel, Ld. Cit-Dr Respondent By: None Date Of Hearing: 07.08.2023 Date Of Pronouncement: 18.08.2023

For Appellant: Shri Raj Singh Meel, Ld. CIT-DRFor Respondent: None
Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “G” BENCH, MUMBAI Before Shri Prashant Maharishi, Accountant Member & Shri Narender Kumar Choudhry, Judicial Member DCIT, Central Circle - 6(4) M/s. Yaari Digital Integarted Room No. 1925, 1st Floor Services Ltd. Air India Building Plot No. 448-451, Phase-V Vs. Nariman Point Udyog Vihar, Gurgaon, Mumbai 400021 (Haryana) 122016 PAN – AABCI7129N Appellant Respondent Appellant by: Shri Raj Singh Meel, Ld. CIT-DR Respondent by: None Date of Hearing: 07.08.2023 Date of Pronouncement: 18.08.2023 O R D E R Per: N.K. Choudhry, JM This appeal has been preferred by the Assesse…

Assistant Commissioner of Income Tax, Central Circle-1(2), Hyderabad vs. Madhava Holdings Private Limited, Hyderabad

In the result, appeal of the Revenue is allowed

ITA 55/HYD/2022[2018-19]Status: DisposedITAT Hyderabad17 Aug 2023AY 2018-19

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Chary

For Appellant: Shri A.V.Raghuram, AR
Section 14A

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “A”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, VICE PRESIDENT & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 55/Hyd/2022 (निर्धारण वर्ष / Assessment Year: 2018-19) Assistant Commissioner of Vs. M/s. Mandava Holdings Income Tax, Pvt. Ltd., Central Circle-1(2), Hyderabad Hyderabad [PAN No. AAFCM4964M] अपीलार्थीर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धारिती द्वारा /Assessee by: Shri A.V.Raghuram, AR राजस्‍व द्वारा Shri K. Madhusudan, CIT-DR /Revenue by: सुनवाई की तारीख रीख/Date of hearing: 09/08/2023 घोषण…

Prime Centre and Developers Private Limited, Pune vs. Assistant Commissioner of Income Tax, Central Circle-1(1), Pune

In the result, both the appeals are partly allowed

ITA 785/PUN/2023[2014-15]Status: DisposedITAT Pune04 Aug 2023AY 2014-15

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Ravi

Section 14ASection 250Section 8D(2)(iii)

…been 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 not retrospective. In that view of the matter, the case pertaining to the A.Y. 2014-15 under consideration, having earned tax free dividend of Rs.1,25,000/-, will be governed by the ruling in Cheminvest (supra). Respectfully following the precedent, we order to restrict the disallowance to Rs.1,25,000/-. A.Y.…

Prime Centre and Developers Private Limited, Pune vs. Assistant Commissioner of Income Tax, Central Circle-1(1), Pune

In the result, both the appeals are partly allowed

ITA 784/PUN/2023[2013-14]Status: DisposedITAT Pune04 Aug 2023AY 2013-14

Bench: Shri R.S. Syal & Shri S.S.Viswanethra Ravi

Section 14ASection 250Section 8D(2)(iii)

…been 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 not retrospective. In that view of the matter, the case pertaining to the A.Y. 2014-15 under consideration, having earned tax free dividend of Rs.1,25,000/-, will be governed by the ruling in Cheminvest (supra). Respectfully following the precedent, we order to restrict the disallowance to Rs.1,25,000/-. A.Y.…

Elara Capital (India) Private Limited, Mumbai vs. ACIT- Circle 6(2)(2), Mumbai

In the result, the appeal of the assessee is allowed

ITA 1569/MUM/2023[2017-18]Status: DisposedITAT Mumbai31 Jul 2023AY 2017-18

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The Acit-Circle 6(2)(2), Tower 3, 21St Floor, One Room No. 506, 5Th Floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. Pan No. Aabce 6487 B Appellant Respondent

For Appellant: Mr. Milind DattaniFor Respondent: Mr. P.D. Chogule (Addl. CIT)
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND MS. KAVITHA RAJAGOPAL (JUDICIAL MEMBER) Assessment Year: 2017-18 Elara Capital (India) Pvt. Ltd., The ACIT-Circle 6(2)(2), Tower 3, 21st Floor, One Room No. 506, 5th floor, Vs. International Center, Senapati Aayakar Bhavan, Maharshi Bapat Marg, Elphinstone Karve Road, Mumbai- Road (West), Mumbai-400013. 400020. PAN NO. AABCE 6487 B Appellant Respondent Assessee by : Mr. Milind Dattani Revenue by : Mr. P.D. Chogule (Addl. CIT) Date of Hearing : 19/07/2023 : Date of pronouncement 31/07/2023 ORDER PER…

DCIT-5(2)(1), Mumbai vs. Jsw Investments Pvt Ltd., Mumbai

In the result, the appeals of the assessee and appeal of the revenue are partly allowed for statistical purposes

ITA 1088/MUM/2023[2014-15]Status: DisposedITAT Mumbai31 Jul 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) Jsw Investment Pvt. Ltd. Vs. Dy. Cit-5(2)(1) Jsw Centre, Bandra 21, 3Rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajcs2498G Appellant .. Respondent

For Appellant: Hiro RaiFor Respondent: Lieder Panicker
Section 10(34)Section 115JSection 143(3)Section 14A

…P a g e | 1 ITA Nos. 1085 to 1088/Mum/2023 JSW Investment Pvt. Ltd. Vs. DCIT-5(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) JSW Investment Pvt. Ltd. Vs. Dy. CIT-5(2)(1) JSW Centre, Bandra 21, 3rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCS2498G Appellant .. Respondent ITA Nos.1087 & 1088/Mum/2023 (A.Ys. 2013-14 & 2014-15) Dy. CIT-5(2)(1) Vs. M/s JSW Inv…

DCIT-5(2)(1), Mumbai vs. Jsw Investments Pvt Ltd., Mumbai

In the result, the appeals of the assessee and appeal of the revenue are partly allowed for statistical purposes

ITA 1087/MUM/2023[2013-14]Status: DisposedITAT Mumbai31 Jul 2023AY 2013-14

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) Jsw Investment Pvt. Ltd. Vs. Dy. Cit-5(2)(1) Jsw Centre, Bandra 21, 3Rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajcs2498G Appellant .. Respondent

For Appellant: Hiro RaiFor Respondent: Lieder Panicker
Section 10(34)Section 115JSection 143(3)Section 14A

…P a g e | 1 ITA Nos. 1085 to 1088/Mum/2023 JSW Investment Pvt. Ltd. Vs. DCIT-5(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) JSW Investment Pvt. Ltd. Vs. Dy. CIT-5(2)(1) JSW Centre, Bandra 21, 3rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCS2498G Appellant .. Respondent ITA Nos.1087 & 1088/Mum/2023 (A.Ys. 2013-14 & 2014-15) Dy. CIT-5(2)(1) Vs. M/s JSW Inv…

Jsw Investments Pvt Ltd., Mumbai vs. CIT (A)-10, Mumbai

In the result, the appeals of the assessee and appeal of the revenue are partly allowed for statistical purposes

ITA 1086/MUM/2023[2014-15]Status: DisposedITAT Mumbai31 Jul 2023AY 2014-15

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) Jsw Investment Pvt. Ltd. Vs. Dy. Cit-5(2)(1) Jsw Centre, Bandra 21, 3Rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajcs2498G Appellant .. Respondent

For Appellant: Hiro RaiFor Respondent: Lieder Panicker
Section 10(34)Section 115JSection 143(3)Section 14A

…P a g e | 1 ITA Nos. 1085 to 1088/Mum/2023 JSW Investment Pvt. Ltd. Vs. DCIT-5(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) JSW Investment Pvt. Ltd. Vs. Dy. CIT-5(2)(1) JSW Centre, Bandra 21, 3rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCS2498G Appellant .. Respondent ITA Nos.1087 & 1088/Mum/2023 (A.Ys. 2013-14 & 2014-15) Dy. CIT-5(2)(1) Vs. M/s JSW Inv…

Jsw Investments Pvt Ltd., Mumbai vs. CIT, (A)-10, Mumbai

In the result, the appeals of the assessee and appeal of the revenue are partly allowed for statistical purposes

ITA 1085/MUM/2023[2013-14]Status: DisposedITAT Mumbai31 Jul 2023AY 2013-14

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) Jsw Investment Pvt. Ltd. Vs. Dy. Cit-5(2)(1) Jsw Centre, Bandra 21, 3Rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aajcs2498G Appellant .. Respondent

For Appellant: Hiro RaiFor Respondent: Lieder Panicker
Section 10(34)Section 115JSection 143(3)Section 14A

…P a g e | 1 ITA Nos. 1085 to 1088/Mum/2023 JSW Investment Pvt. Ltd. Vs. DCIT-5(2)(1) IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos.1085 & 1086/Mum/2023 (A.Ys. 2013-14 & 2014-15) JSW Investment Pvt. Ltd. Vs. Dy. CIT-5(2)(1) JSW Centre, Bandra 21, 3rd Floor, Mittal Kurla Complex, Court, 22, Bandra (East), Nariman Point, Mumbai – 400 051 Mumbai – 400 020 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAJCS2498G Appellant .. Respondent ITA Nos.1087 & 1088/Mum/2023 (A.Ys. 2013-14 & 2014-15) Dy. CIT-5(2)(1) Vs. M/s JSW Inv…

DCIT, Central Circle-2, Delhi vs. Mideast Integrated Steels Ltd., Delhi

In the result, appeal of the Revenue for assessment year 2017-18 and appeal of the assessee for assessment year 2017-18 and 2018-19 are dismissed

ITA 2051/DEL/2021[2017-18]Status: DisposedITAT Delhi26 Jul 2023AY 2017-18

Bench: Shri G.S. Pannu, Hon’Ble & Shri Amit Shuklaasstt. Year: 2017-18

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Shri Dilip Singh Kothari, CIT DR DR
Section 144Section 14ASection 2(24)(x)Section 36

…income during the year for any investment. Now it is well settled fact that no disallowance could be made under section 14A when no exempt income has been earned. The Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure (India) Ltd. reported in 448 ITR 674 has categorically held that, firstly, no disallowance can be made when no exempt income has been earned by the assessee and the amendment made by the Finance Act 2022 in section 14A by inserting a non obstante clause and explanation will apply prospectively i.e., w.e.f. 01.04.2022 and will not have any retrospective effect. Accordingly the order…

Mideast Integrated Steels Ltd., New Delhi vs. ACIT, Central Circle-2, New Delhi

In the result, appeal of the Revenue for assessment year 2017-18 and appeal of the assessee for assessment year 2017-18 and 2018-19 are dismissed

ITA 1569/DEL/2021[2018-19]Status: DisposedITAT Delhi26 Jul 2023AY 2018-19

Bench: Shri G.S. Pannu, Hon’Ble & Shri Amit Shuklaasstt. Year: 2017-18

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Shri Dilip Singh Kothari, CIT DR DR
Section 144Section 14ASection 2(24)(x)Section 36

…income during the year for any investment. Now it is well settled fact that no disallowance could be made under section 14A when no exempt income has been earned. The Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure (India) Ltd. reported in 448 ITR 674 has categorically held that, firstly, no disallowance can be made when no exempt income has been earned by the assessee and the amendment made by the Finance Act 2022 in section 14A by inserting a non obstante clause and explanation will apply prospectively i.e., w.e.f. 01.04.2022 and will not have any retrospective effect. Accordingly the order…

Mideast Integrated Steels Ltd., New Delhi vs. ACIT, CC-2, New Delhi

In the result, appeal of the Revenue for assessment year 2017-18 and appeal of the assessee for assessment year 2017-18 and 2018-19 are dismissed

ITA 1568/DEL/2021[2017-18]Status: DisposedITAT Delhi26 Jul 2023AY 2017-18

Bench: Shri G.S. Pannu, Hon’Ble & Shri Amit Shuklaasstt. Year: 2017-18

For Appellant: Shri Salil Aggarwal, Sr. AdvocateFor Respondent: Shri Dilip Singh Kothari, CIT DR DR
Section 144Section 14ASection 2(24)(x)Section 36

…income during the year for any investment. Now it is well settled fact that no disallowance could be made under section 14A when no exempt income has been earned. The Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure (India) Ltd. reported in 448 ITR 674 has categorically held that, firstly, no disallowance can be made when no exempt income has been earned by the assessee and the amendment made by the Finance Act 2022 in section 14A by inserting a non obstante clause and explanation will apply prospectively i.e., w.e.f. 01.04.2022 and will not have any retrospective effect. Accordingly the order…

The Dy. Commissioner of Income Tax, Central Circle-6(4), Mumbai vs. Indiabulls Distribution Services Limited, Mumbai

In the result, appeal of the learned AO is dismissed

ITA 1552/MUM/2023[2018-2019]Status: DisposedITAT Mumbai24 Jul 2023AY 2018-2019

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm Indiabulls Distribution The Dcit Services Limited Central Circle-6(4) Room No.1925, 19 Th Floor, M-62 & 63, 1St Floor,, Vs. Air India Building, Connaught Place, Nariman Point, Mumbai-400 021 New Delhi-110 001 (Appellant) (Respondent) Pan No. Aacc1090N Assessee By : None Revenue By : Mr. H.M. Bhatt, Dr Date Of Hearing: 20.07.2023 Date Of Pronouncement : 24.07.2023

For Appellant: NoneFor Respondent: Mr. H.M. Bhatt, DR
Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI KULDIP SINGH, JM Indiabulls Distribution The DCIT Services Limited Central Circle-6(4) Room No.1925, 19 th Floor, M-62 & 63, 1st Floor,, Vs. Air India Building, Connaught Place, Nariman Point, Mumbai-400 021 New Delhi-110 001 (Appellant) (Respondent) PAN No. AACC1090N Assessee by : None Revenue by : Mr. H.M. Bhatt, DR Date of hearing: 20.07.2023 Date of pronouncement : 24.07.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. ITA number 1552/M/2023 is filed by the Deputy Commissioner of income tax, Central Circle – 6…

Innovative B2B Logistics Solutions P.Ltd, New Delhi vs. Addl.CIT, Special Range-4, New Delhi

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

ITA 1320/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Jul 2023AY 2014-15

Bench: Sh. N. K. Billaiya & Sh. Anubhav Sharmaassessment Year: 2014-15 Addl. Cit Special Range-4 Innovative B2B Logistics New Delhi Vs Solutions (P) Ltd. Level-4, Rectangle -1, Commercial Complex, D-4, Saket, New Delhi -110017 Pan No.Aabci5215M (Appellant) (Respondent) Assessment Year: 2014-15 Innovative B2B Logistics Addl. Cit Special Range-4 Solutions (P) Ltd. Level-4, Vs New Delhi Rectangle -1, Commercial Complex, D-4, Saket, New Delhi -110017 Pan No.Aabci5215M (Appellant) (Respondent)

Section 14A

…efore the lower authorities. 10. The assessee has not earned any exempt income during the year under consideration is not disputed, therefore, the ratio laiddown by the Hon’ble Jurisdictional High Court of Delhi in the case of Era Infrastructure (India) Ltd. 448 ITR 674 squarely apply wherein the Hon’ble High Court has held that no disallowance need to be made if there is no exempt income. 11. Respectfully following the same we decline to interfere with the findings of the CIT(A). Ground No.1 to 6 taken together are dismissed. 12. The second grievance of the revenue is that the CIT(A) erred in applying the per…

Addl.CIT, Special Range-4, New Delhi vs. Innovative B2B Logistics Solutions P.Ltd, New Delhi

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

ITA 1140/DEL/2018[2014-15]Status: DisposedITAT Delhi14 Jul 2023AY 2014-15

Bench: Sh. N. K. Billaiya & Sh. Anubhav Sharmaassessment Year: 2014-15 Addl. Cit Special Range-4 Innovative B2B Logistics New Delhi Vs Solutions (P) Ltd. Level-4, Rectangle -1, Commercial Complex, D-4, Saket, New Delhi -110017 Pan No.Aabci5215M (Appellant) (Respondent) Assessment Year: 2014-15 Innovative B2B Logistics Addl. Cit Special Range-4 Solutions (P) Ltd. Level-4, Vs New Delhi Rectangle -1, Commercial Complex, D-4, Saket, New Delhi -110017 Pan No.Aabci5215M (Appellant) (Respondent)

Section 14A

…efore the lower authorities. 10. The assessee has not earned any exempt income during the year under consideration is not disputed, therefore, the ratio laiddown by the Hon’ble Jurisdictional High Court of Delhi in the case of Era Infrastructure (India) Ltd. 448 ITR 674 squarely apply wherein the Hon’ble High Court has held that no disallowance need to be made if there is no exempt income. 11. Respectfully following the same we decline to interfere with the findings of the CIT(A). Ground No.1 to 6 taken together are dismissed. 12. The second grievance of the revenue is that the CIT(A) erred in applying the per…

Monind Limited, New Delhi vs. DCIT, Circle 17(2), New Delhi

ITA 2002/DEL/2022[2017-18]Status: DisposedITAT Delhi07 Jul 2023AY 2017-18

Bench: Sh. N. K. Billaiya & Ms. Astha Chandraassessment Year: 2017-18 Monind Limited Dcit 11, Monnet House, Masjid Vs Circle – 17 (2) Moth, Greater Kailash-2, New Delhi New Delhi-110048 Pan No.Aaacm0437E (Appellant) (Respondent)

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Assessment Year: 2017-18 Monind Limited DCIT 11, Monnet House, Masjid Vs Circle – 17 (2) Moth, Greater Kailash-2, New Delhi New Delhi-110048 PAN No.AAACM0437E (APPELLANT) (RESPONDENT) Appellant by Sh. V.K. Jain, CA Respondent by Sh. M.K. Pandey, Sr DR Date of hearing: 03/07/2023 Date of Pronouncement: 07/07/2023 ORDER PER N. K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-26, Delhi dated 04.07.2022 pertaining to A.Y.201…

Truworth Infotech Private Limited, Jaipur vs. Income Tax Officer, Ward-2(2), Jaipur

In the result, the appeal of the assessee is allowed

ITA 79/JPR/2023[2014-15]Status: DisposedITAT Jaipur04 Jul 2023AY 2014-15

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma, CA &For Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14A

…e said Explanation was prospective in nature and assessee did not earn any exempt income in relevant assessment years, no disallowance could be made under section 14A. The Delhi High Court in case of Pr. CIT(Central) Vs. Era Infrastructure (India) Ltd. (2022) 448 ITR 674/(2022) 284 taxmann 384 has also held the same view. In view of the above facts of the case and position of law, no disallowance by invoking the provisions of Section 14A deserves to be made.’’ 2.4 On the other hand, the ld. DR supported the order of the ld. CIT(A). 2.5 We have heard both the parties and perused the materials available on record i…