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.

Income Tax Officer 10(2)(3), Mumbai vs. M/S.Mandvi Salts & Logistics Private Limited, Mumbai

In the result, appeal by the revenue is dismissed

ITA 6231/MUM/2017[2012-13]Status: DisposedITAT Mumbai24 Apr 2025AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

For Appellant: Shri Bhupendra Shah, CAFor Respondent: Shri R.R. Makwana, Addl. CIT
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 Income Tax Officer- vs Mandvi Salts & Logistics Pvt. 10(2)(3) Ltd. R. No. 216-A, Aayakar Flat No. 1404, Plot No. B-29, Bhavan, Silver Arch, M.K. Road, Shashtri Nagar, Mumbai 400020. Andheri (West), Mumbai 400053 PAN: AAFCM4923L Appellant Respondent Present for: Appellant by : Shri Bhupendra Shah, CA Respondent by : Shri R.R. Makwana, Addl. CIT Date of Hearing : 27.01.2025 Date of Pronouncement : 24.04.2025 O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBE…

M/S. Jindal Brugs Private Limited, Mumbai vs. Principal Commissioner of Income Tax -3, Mumbai

In the result, the appeal of the Assessee is allowed

ITA 947/MUM/2025[2020-21]Status: DisposedITAT Mumbai23 Apr 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2020-21

For Appellant: Shri Rahul Hakkani, Ld. A.RFor Respondent: Shri Byomakesh Pradipta Kumar
Section 142(1)Section 143(3)Section 14ASection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “F”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Assessment Year: 2020-21 M/s. Jindal Drugs Private Principal Commissioner Limited of Income Tax, Mumbai 3 12A, 12th Floor, Bakhtawar, Vs. Aaykar Bhavan, M K Road, 229, Nariman Point, Mumbai- 400 020 Mumbai-400021 PAN: AAACJ1000A (Appellant) (Respondent) Present for: Assessee by : Shri Rahul Hakkani, Ld. A.R. Revenue by : Shri Byomakesh Pradipta Kumar Panda, Ld. Sr.D.R. Date of Hearing : 25.03.2025 Date of Pronouncement : 23.04.2025 O R D E R Per…

Sud Chemie India Private Limited, Aluva vs. DCIT, Corporate Circle 2(1), Ernakulam

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

ITA 970/COCH/2024[2013-14]Status: DisposedITAT Cochin09 Apr 2025AY 2013-14

Bench: Shri George George K, Vice- & Shri Inturi Rama Rao

For Appellant: Sri.Radhesh Bhatt, CAFor Respondent: Smt.Leena Lal, Sr.AR
Section 10(34)Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George George K, Vice-President & Shri Inturi Rama Rao, Accountant Member ITA No.970/Coch/2024 :Asst.Year 2013-2014 Sud Chemie India Pvt. Ltd. The Deputy Commissioner of Edayar Industrial Area, v. Income-tax Binanipuram, Aluva Corporate Circle 2(1) Ernakulam – 683 502. Ernakulam. PAN :AAACU3342E. (Appellant) (Respondent) Appellant by :Sri.Radhesh Bhatt, CA Respondent by :Smt.Leena Lal, Sr.AR Date of Date of Hearing :08.04.2025 Pronouncement : 09.04.2025 O R D E R Per George George K, Vice-President : This appeal at the instance of assessee is…

Assistant Commissioner of Income Tax, Madurai vs. Ramco Industries Limited, Chennai

Appeals of the revenue are dismissed

ITA 2901/CHNY/2024[2013-14]Status: DisposedITAT Chennai07 Apr 2025AY 2013-14

Bench: Shri Manu Kumar Giri & Shri Jagadishआयकरअपीलसं./I.T.A.No.2900 & 2901/Chny/2024 (निर्धारण वर्ष / Assessment Year: 2011-12 & 2013-14)

Section 115JSection 143(3)Section 14ASection 263

…आयकर अपीलीय अधिकरण, 'ए' न्यायपीठ, चेन्नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A' BENCH, CHENNAI श्री मनु कुमार गिरि, न्यायिक सदस्य एवं श्री जगदीश, लेख सदस्य के समक्ष BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.No.2900 & 2901/Chny/2024 (निर्धारण वर्ष / Assessment Year: 2011-12 & 2013-14) The Assistant Commissioner of Vs M/s.Ramco Income Tax Corporate Circle, Madurai. (अपीलार्थी/Appellant) अपीलार्थीकीओरसे / Appellant by प्रत्यर्थीकीओरसे/Respondent by सुनवाईकी तारीख/Date of hearing घोषणाकीतारीख / Date of Pronouncement Industries 98A, Auras Corporation Cent…

Assistant Commissioner of Income Tax, Madurai vs. Ramco Industries Limited, Chennai

Appeals of the revenue are dismissed

ITA 2900/CHNY/2024[2011]Status: DisposedITAT Chennai07 Apr 2025

Bench: Shri Manu Kumar Giri & Shri Jagadish

For Appellant: Mr.V.Justin, CITFor Respondent: Mr. S.Muralidhar, FCA &
Section 115JSection 143(3)Section 144Section 14ASection 263

…आयकर अपीलीय अिधकरण, ‘ए’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी मनु कुमार िग"र ,"ाियक सद" एवं "ी जगदीश , लेखा सद" के सम% BEFORE SHRI MANU KUMAR GIRI, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.No.2900 & 2901/Chny/2024 (िनधा"रण वष" / Assessment Year: 2011-12 & 2013-14) Vs M/s.Ramco The Assistant Commissioner of Industries Income Tax Limited, Corporate Circle, 98A, Auras Corporation Centre, Madurai. Dr.Radhakrishnan Road, Mylapore, Chennai-600 004. PAN : AAACR-5284-J (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/ Appellant by : Mr.V.Justin, CIT…

Ndtv Networks Ltd., New Delhi vs. DCIT, Circle- 18(1), New Delhi

Appeal is partly allowed

ITA 6647/DEL/2018[2014-15]Status: DisposedITAT Delhi04 Apr 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwalassessment Year: 2014-15 Ndtv Networks Ltd., Vs. Dcit, 207, Okhla Industrial Estate, Circle-18(1), Phase-Iii, New Delhi New Delhi Pan: Aadcn3073A (Appellant) (Respondent)

Section 143(3)Section 14ASection 2(13)Section 37(1)

…est Ltd. vs. CIT; (2015) 61 taxmann.com 118 (Del.) has settled the issue prior to the above amendment that the impugned disallowance does not get attracted in absence of any exempt income but also in PCIT v. Era Infrastructure (India) Ltd. 6 | P a g e (2022) 448 ITR 674 (Del), their lordships have held that the above statutory amendment carries only prospective effect. We thus accept the assessee’s instant last ground, in very terms. 10. No other ground or argument has been pressed before us. 11. This assessee’s appeal is partly allowed. Order pronounced in the open court on 4th April, 2025 (MANISH AGARWAL) JUDI…

Asstt. Commissioner of Income Tax, CC-1, Lucknow, Aayakar Bhawan, Ashok Marg vs. Apco Infratech Pvt. Ltd., Vibhuti Khand Gomti Nagar Lko

In the result, appeals vide

ITA 623/LKW/2024[2018-19]Status: DisposedITAT Lucknow02 Apr 2025AY 2018-19

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.17/Lkw/2024 Assessment Years:2018-19 M/s APCO Infratech Pvt. Ltd., Vs. Dy./A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.356 & 357/Lkw/2020 Assessment Years:2016-17 & 17-18 M/s APCO Infratech Pvt. Ltd., Vs. A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.453 & 454/Lkw/2020 Assessment Y…

M/S Apco Infratech Pvt. Ltd., Lucknow vs. D/ACIT-1, Central-1, Lucknow

In the result, appeals vide

ITA 17/LKW/2024[2018-19]Status: DisposedITAT Lucknow02 Apr 2025AY 2018-19

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.17/Lkw/2024 Assessment Years:2018-19 M/s APCO Infratech Pvt. Ltd., Vs. Dy./A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.356 & 357/Lkw/2020 Assessment Years:2016-17 & 17-18 M/s APCO Infratech Pvt. Ltd., Vs. A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.453 & 454/Lkw/2020 Assessment Y…

M/S. Apco Infratech Pvt. Ltd., Lucknow vs. ACIT-I, Lucknow

In the result, appeals vide I

ITA 357/LKW/2020[2017-18]Status: DisposedITAT Lucknow02 Apr 2025AY 2017-18

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH 'A', LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.17/Lkw/2024 Assessment Years:2018-19 M/s APCO Infratech Pvt. Ltd., B-9, Vibhuti Khand, Gomti Nagar, Lucknow. PAN:AADCA5639H (Appellant) Vs. Dy./A.C.I.T.-1, (Central-1), Lucknow (Respondent) I.T.A. No.356 & 357/Lkw/2020 Assessment Years:2016-17 & 17-18 M/s APCO Infratech Pvt. Ltd., B-9, Vibhuti Khand, Gomti Nagar, Lucknow. PAN:AADCA5639H (Appellant) Vs. A.C.I.T.-1, (Central-1), Lucknow (Respondent) I.T.A. No.453 & 454/Lkw/2020 Assessment Ye…

M/S. Apco Infratech Pvt. Ltd., Lucknow vs. ACIT-1, Lucknow

In the result, appeals vide

ITA 356/LKW/2020[2016-17]Status: DisposedITAT Lucknow02 Apr 2025AY 2016-17

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Section 143(1)Section 143(2)Section 143(3)Section 80I

…1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER AND SHRI SUBHASH MALGURIA, JUDICIAL MEMBER I.T.A. No.17/Lkw/2024 Assessment Years:2018-19 M/s APCO Infratech Pvt. Ltd., Vs. Dy./A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.356 & 357/Lkw/2020 Assessment Years:2016-17 & 17-18 M/s APCO Infratech Pvt. Ltd., Vs. A.C.I.T.-1, B-9, Vibhuti Khand, (Central-1), Gomti Nagar, Lucknow Lucknow. PAN:AADCA5639H (Appellant) (Respondent) I.T.A. No.453 & 454/Lkw/2020 Assessment Y…

Jsw Energy Limited, Mumbai vs. The Assistant Commissioner of Income Tax, Central Circle 8(3), Mumbai

In the result, both the appeals are allowed partly for statistical

ITA 3714/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: Mr. Gaurav KabraFor Respondent: Ms. Neena Jeph, CIT-DR/
Section 115JSection 14ASection 37Section 80I

…in the case of ACIT v. Williamson Financial Services Ltd. reported in 140 taxmann.com 164 and held the amendment by way of Finance Act, 2022 is having retrospective effect. But we find that Hon'ble Delhi High Court in the case of Era Infrastructure Pvt. Ltd. 448 ITR 674 has held that the explanation inserted by way of Finance Act, 2022 is prospective in nature and therefore, ratio in the decision of the ACIT v. Williamson Financial Services (supra) being inconsistent with the higher judicial forum cannot be applied over the facts of the instant case. Accordingly, respectfully following the decision of the Hon'bl…

Jsw Energy (Barmer) Limited, Mumbai vs. The Assistant Commissioner of Income Tax, Central Circle 8(3), Mumbai

In the result, both the appeals are allowed partly for statistical

ITA 3713/MUM/2024[2020-21]Status: DisposedITAT Mumbai26 Mar 2025AY 2020-21

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal ()

For Appellant: Ms. Neena Jeph, CIT-DR/For Respondent: Mr. Gaurav Kabra
Section 14A

…t, nt by way of Finance Act, 2022 is having retrospective effect. But retrospective effect. But we find that Hon’ble Delhi we find that Hon’ble Delhi High Court in the case of High Court in the case of Era Infrastructure Pvt. Ltd. Era Infrastructure Pvt. Ltd. 448 ITR 674 has held that the explanation inserted by way of Finance Act, 2022 the explanation inserted by way of Finance Act, 2022 the explanation inserted by way of Finance Act, 2022 is prospective in nature and therefore, ratio in the decision of the prospective in nature and therefore, ratio in the decision of the prospective in nature and therefore, rat…

DCIT (Ltu), New Delhi vs. M/S. Mawana Sugar Ltd., New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6081/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Mar 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…edly there is no exempt income earned by the assessee during the year under consideration, therefore, section 14A is not applicable. In this regard, he relied on the decision of Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure India Ltd. In 448 ITR 674 (Delhi). On the other hand, ld. DR of the Revenue did not controvert this proposition. Accordingly, respectfully following the decision of Hon’ble Delhi High Court in the case of Era Infrastructure Ltd. (supra), we are inclined to delete the disallowance made by the AO and confirmed by the ld. CIT(A) and allow the ground of the assessee. ITA No.4…

Siel Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6301/DEL/2015[2011-12]Status: DisposedITAT Delhi26 Mar 2025AY 2011-12

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…edly there is no exempt income earned by the assessee during the year under consideration, therefore, section 14A is not applicable. In this regard, he relied on the decision of Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure India Ltd. In 448 ITR 674 (Delhi). On the other hand, ld. DR of the Revenue did not controvert this proposition. Accordingly, respectfully following the decision of Hon’ble Delhi High Court in the case of Era Infrastructure Ltd. (supra), we are inclined to delete the disallowance made by the AO and confirmed by the ld. CIT(A) and allow the ground of the assessee. ITA No.4…

Siel Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6300/DEL/2015[2003-04]Status: DisposedITAT Delhi26 Mar 2025AY 2003-04

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…edly there is no exempt income earned by the assessee during the year under consideration, therefore, section 14A is not applicable. In this regard, he relied on the decision of Hon’ble Delhi High Court in the case of PCIT vs. Era Infrastructure India Ltd. In 448 ITR 674 (Delhi). On the other hand, ld. DR of the Revenue did not controvert this proposition. Accordingly, respectfully following the decision of Hon’ble Delhi High Court in the case of Era Infrastructure Ltd. (supra), we are inclined to delete the disallowance made by the AO and confirmed by the ld. CIT(A) and allow the ground of the assessee. ITA No.4…

Alkyl Amines Chemicals Limited, Navi Mumbai vs. Assistant Commissioner of Income Tax-15(1)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 1010/MUM/2025[2017-18]Status: DisposedITAT Mumbai25 Mar 2025AY 2017-18

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Ms. Kavitha Rajagopal, Hon’Ble

For Appellant: Shri Karan Jain & Shri Suraj Singh Devda, A/RFor Respondent: Shri Ram Krishn Kedia, Sr. D/R
Section 14A

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & MS. KAVITHA RAJAGOPAL, HON’BLE JUDICIAL MEMBER I.T.A. No. 1010/Mum/2025 Assessment Year: 2017-18 Alkyl Amines Chemical Limtied Assistant Commissioner of Income Tax – Circle 401-407, Nirman Vyapar Kendra Vs 15(1)(1), Mumbai Plot No. 10, Sector 17 Vashi S.O., Thane Navi Mumbai - 400703 [PAN: AAACA6783F] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Karan Jain & Shri Suraj Singh Devda, A/R Revenue by : Shri Ram Krishn Kedia, Sr. D/R सुनवाई की तार…

Rays Power Experts Private Limited, Jaipur vs. Assistant Commissioner of Income Tax, Circle 2, Jaipur

In the result, the appeal of the assesee is allowed for statistical purposes as indicated hereinabove

ITA 1086/JPR/2024[2017-18]Status: DisposedITAT Jaipur18 Mar 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Anand Pareek, AdvocateFor Respondent: Smt. Runi Pal, CIT- DR a
Section 115BSection 143(3)Section 14ASection 250Section 68

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. No. 1086/JPR/2024 fu/kZkj.k o"kZ@Assessment Years : 2017-18 Rays Power Experts Private Limited cuke The ACIT 4th Floor, Sheel Mohar Plaza, Vs. Circle-2, Jaipur Yudhister Marg, C-Scheme, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCR1929K vihykFkhZ@Appellant izR;FkhZ@Responde nt fu/kZkfjrh dh vksj ls@ Assessee by : Shri Anand Par…

Raunaq Epc International Limited, K.M Mathura Road Faridabaad vs. PCIT(Central), Delhi-1, C.R.Building Delhi

Appeal is partly allowed in above terms

ITA 1559/DEL/2024[2018-19]Status: DisposedITAT Delhi18 Mar 2025AY 2018-19

Bench: Sh. Satbeer Singh Godara & Sh. Amitabh Shukla

For Appellant: Sh. M. K. Madan, CAFor Respondent: Sh. Sunil Yadav, CIT-DR
Section 14ASection 263Section 36(1)(va)

…D disallowance even in absence of actual exempt income in light of the fact that the assessment year 2018-19 involved before us only whereas the above amendment came much latter vide Finance Act, 2022 only. Case law PCIT Vs. Era Infrastructure (I) Ltd. (2022) 448 ITR 674 (Del.) has already settled the issue in assessee’s favour and against the department that the above amendment carries prospective effect only. We thus accept the assessee’s instant first and foremost substantive ground to reverse the ld. PCIT’s impugned action proposing section 14A r.w. rule 8D disallowance in very terms. Ordered accordingly. 6.…

M/S. Philips India Limited, Kolkata vs. D.C.I.T., Circle - 11(1), Kolkata

In the result, the appeal of the assessee is allowed

ITA 1960/KOL/2024[2020-2021]Status: DisposedITAT Kolkata11 Mar 2025AY 2020-2021

Bench: Duvvuru Rl Reddy, Vp & Shri Rajesh Kumar, Am M/S Philips India Limited Dcit, Circle 11(1) 3Rd Floor, Tower-A, Dlf Park, Aaykar Bhavan, P-7, 08 Block Af, Major Arterial Chowringhee Square, Road, New Town (Rajarhat), Vs. Kolkata-700069, Kolkata-700156, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aabcp9487A Assessee By : Shri Ketan Ved, Ar Revenue By : Shri A. Kundu, Cit Dr Date Of Hearing: 07.03.2025 Date Of Pronouncement : 11.03.2025

For Appellant: Shri Ketan Ved, ARFor Respondent: Shri A. Kundu, CIT DR
Section 92Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, KOLKATA BEFORE DUVVURU RL REDDY, VP AND SHRI RAJESH KUMAR, AM M/s Philips India Limited DCIT, Circle 11(1) 3rd Floor, Tower-A, DLF Park, Aaykar Bhavan, P-7, 08 Block AF, Major Arterial Chowringhee Square, Road, New town (Rajarhat), Vs. Kolkata-700069, Kolkata-700156, West Bengal West Bengal (Appellant) (Respondent) PAN No. AABCP9487A Assessee by : Shri Ketan Ved, AR Revenue by : Shri A. Kundu, CIT DR Date of hearing: 07.03.2025 Date of pronouncement : 11.03.2025 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the objection of t…

Assistant Commissioner of Income Tax, Mumbai vs. Indiabulls Real Estatelimited, Gurgaon

Appeal is dismissed

ITA 2179/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Mar 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarthe Assistant Commissioner Of V/S. M/S Indiabulls Real Income Tax, Central Circle – 6(4), बनाम Estate Limited, M-62 & Mumbai, 63, 1Stfloor, Connaught Vijay Kumar Singh, Deputy Place, New Delhi – 110 001 Commissioner Of Income Tax, Central Circle 6(4), Mumbai, Room No. 453, 4 Th Floor, Kautilya Bhavan, G Block, Bkc, Bandra(E), Mumbai 400 051, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabci5194F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri K. Gopal & Shri Om Kandalkar,ARsFor Respondent: Mr. R.A. Dhyani (CIT DR)
Section 143(3)Section 14ASection 37(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER The Assistant Commissioner of v/s. M/s Indiabulls Real Income Tax, Central Circle – 6(4), बनाम Estate Limited, M-62 & Mumbai, 63, 1stFloor, Connaught Vijay Kumar Singh, Deputy Place, New Delhi – 110 001 Commissioner of Income Tax, Central Circle 6(4), Mumbai, Room No. 453, 4 th Floor, Kautilya Bhavan, G Block, BKC, Bandra(E), Mumbai 400 051, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCI5194F Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Sh…