PCIT v. M/s. Kesoram Industries 57

417 ITR 334High Court2019#1183 most cited

What is PCIT v. M/s. Kesoram Industries 57 authority for?

The Assessing Officer must establish a proximate nexus between the expenditure to be disallowed and the investments made. The Assessing Officer must record satisfaction before making disallowance under Section 14A and must not proceed on mere suspicion.

96

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2020 to 2026.

Also referred to as

PCIT v M/s Kesoram Industries · Section 14A · disallowance of expenditure · proximate nexus · investments · satisfaction of AO · Section 143(2) · Section 144B

Sections most often in play

Section 142(1)Section 147Section 148Section 68Section 133(6)Section 143(2)Section 144BSection 148A

Issues it is cited on

section 147(1)section 147(b)section 147(a)section 127(2)section 153c proceedingssection 131(1)third party informationsection 43casection 153a(1)(b)section 10bdeduction u/s 80ialive link

Judgments citing PCIT v. M/s. Kesoram Industries 57

Principal Commissioner of Income Tax-9, Kolkata vs. Gopal Prasad Tikmani

In the result, these appeals are allowed and the substantial

ITAT/151/2021HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…me Tax Versus JN Morison India 366 ITR which was referred to by the learned tribunal. For the same proposition reference was made to the decision in PCIT Versus M/s. Kesoram Industries 57 (2019) 417 ITR 334 (Bom) 58 361 ITR 162 59 (2019) 418 ITR 315 (SC) ITAT NO. 06 OF 2022 AND ETC. BATCH Page 61 of 150 Limited 60. Nextly, the learned senior counsel elaborately referred to the order passed by the tribunal, impugned before us and submitted that elaborate discussion on the facts has been done, the learned tribunal rightly held that there i…

Principal Commissioner of Income Tax -5, Kolkata vs. Swati Bajaj

In the result, these appeals are allowed and the substantial

ITAT/6/2022HC Calcutta14 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…me Tax Versus JN Morison India 366 ITR which was referred to by the learned tribunal. For the same proposition reference was made to the decision in PCIT Versus M/s. Kesoram Industries 57 (2019) 417 ITR 334 (Bom) 58 361 ITR 162 59 (2019) 418 ITR 315 (SC) ITAT NO. 06 OF 2022 AND ETC. BATCH Page 61 of 150 Limited 60. Nextly, the learned senior counsel elaborately referred to the order passed by the tribunal, impugned before us and submitted that elaborate discussion on the facts has been done, the learned tribunal rightly held that there i…

Harshita Chhawchharia vs. Commissioner of Income Tax, Kolkata-20

In the result, these appeals are allowed and the substantial

ITA/3/2021HC Calcutta07 Jun 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…me Tax Versus JN Morison India 366 ITR which was referred to by the learned tribunal. For the same proposition reference was made to the decision in PCIT Versus M/s. Kesoram Industries 57 (2019) 417 ITR 334 (Bom) 58 361 ITR 162 59 (2019) 418 ITR 315 (SC) ITAT NO. 06 OF 2022 AND ETC. BATCH Page 61 of 150 Limited 60. Nextly, the learned senior counsel elaborately referred to the order passed by the tribunal, impugned before us and submitted that elaborate discussion on the facts has been done, the learned tribunal rightly held that there i…

Deputy Commissioner of Income Tax 3(2)(2), Mumbai vs. Phulchand Exports Private Limited, Mumbai

In the result, appeal filed by the revenue and cross objection filed by the assessee are dismissed

ITA 7214/MUM/2017[2008-09]Status: DisposedITAT Mumbai12 May 2022AY 2008-09

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

For Appellant: Shri Shankarlal JainFor Respondent: Shri Sandeep Raj
Section 147

…sales cannot be worked out on the basis of this no addition required to be made in the absence of any evidence. We allow this fold of contention of assesse and delete the addition. 9. Similarly, Hon’ble High Court of Bombay in the case of Sesa Sterlite Ltd. 417 ITR 334 (BOM), came to similar view on the report of Justice B M Shah. Since the facts in the present appeal by the revenue are similar and the decisions reached by the Hon’ble High Courts, we do not see any reason to disturb the findings of Ld CIT(A), therefore, we are inclined to dismiss the grounds raised by the revenue in this regard. Ground raised b…

Deputy Commissioner of Income Tax 3(2)(2), Mumbai vs. Phulchand Exports Private Limited, Mumbai

In the result, appeal filed by the revenue and cross objection filed by the assessee are dismissed

ITA 7213/MUM/2017[2011-12]Status: DisposedITAT Mumbai12 May 2022AY 2011-12

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

For Appellant: Shri Shankarlal JainFor Respondent: Shri Sandeep Raj
Section 147

…sales cannot be worked out on the basis of this no addition required to be made in the absence of any evidence. We allow this fold of contention of assesse and delete the addition. 9. Similarly, Hon’ble High Court of Bombay in the case of Sesa Sterlite Ltd. 417 ITR 334 (BOM), came to similar view on the report of Justice B M Shah. Since the facts in the present appeal by the revenue are similar and the decisions reached by the Hon’ble High Courts, we do not see any reason to disturb the findings of Ld CIT(A), therefore, we are inclined to dismiss the grounds raised by the revenue in this regard. Ground raised b…

Deputy Commissioner of Income Tax 3(2)(2), Mumbai vs. Phulchand Exports Private Limited, Mumbai

In the result, appeal filed by the revenue and cross objection filed by the assessee are dismissed

ITA 7212/MUM/2017[2010-11]Status: DisposedITAT Mumbai12 May 2022AY 2010-11

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

For Appellant: Shri Shankarlal JainFor Respondent: Shri Sandeep Raj
Section 147

…sales cannot be worked out on the basis of this no addition required to be made in the absence of any evidence. We allow this fold of contention of assesse and delete the addition. 9. Similarly, Hon’ble High Court of Bombay in the case of Sesa Sterlite Ltd. 417 ITR 334 (BOM), came to similar view on the report of Justice B M Shah. Since the facts in the present appeal by the revenue are similar and the decisions reached by the Hon’ble High Courts, we do not see any reason to disturb the findings of Ld CIT(A), therefore, we are inclined to dismiss the grounds raised by the revenue in this regard. Ground raised b…

S M Auto Engineering Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 2(3), Pune

In the result, the appeal of assessee is partly allowed

ITA 1952/PUN/2018[2014-15]Status: DisposedITAT Pune17 Mar 2022AY 2014-15

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Kalika Singh
Section 14A

…आयकर अपीलीय अधधकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE (Through Virtual Court) BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1952/PUN/2018 धनधाारण वषा / Assessment Year : 2014-15 S M Auto Engineering Pvt. Ltd., 12, Bhosale Nagar, Near Godavari Apt., Pune – 411007 PAN : AACCS9239E .......अपीलाथी / Appellant बनाम / V/s. DCIT, Circle – 2(3), Pune ……प्रत्यथी / Respondent Assessee by : Shri Kishor Phadke Revenue by : Shri Kalika Singh सुनवाई की तारीख / Date of Hearing : 12-01-2022 घोषणा की तारीख /…

Ashirbad Behera vs. Asst.Commnr.of Income Tax

ITA/19/2015HC Orissa03 Mar 2022

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE ADITYA KUMAR MOHAPATRA

Jai Jagannath Mover P. Ltd., Kolkata vs. I.T.O., Ward-11(4), Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 206/KOL/2020[2009-10]Status: DisposedITAT Kolkata18 Feb 2022AY 2009-10

Bench: Shri A. T. Varkey, Jm]

Section 147

…, AY 2011-12 deciding legal issue as raised by the assessee before me, has allowed it by order dated 27.03.2020 wherein the Tribunal has taken note of the ratio of the decision of the Hon’ble Bombay High court in the case of M/s. Sesa Sterlite Vs. ACIT (2019) 417 ITR 334 (Bom) wherein their Lordships on similar issue (reopening made by AO/income tax authorities on the strength of Retired Justice Shaw Commission Report) have held in favor of assessee as under: “15. Let us now see what was the information or material available to the Assessing Officer and which is disclosed in the reasons to believe stated in the…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Suvarna Commercial Pvt Ltd

ITAT/65/2021HC Calcutta17 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 14ASection 260ASection 80I

…ut that the assessee has to make a claim (including a claim that no expenditure was incurred) with regard to the expenditure incurred for earning income which is not chargeable to tax. Such a 1 [2022] 441 ITR 648 (Cal) 2 [2018] 402 ITR 640(SC) Page 11 of 12 claim has to be examined by the Assessing Officer and only if an objective satisfaction is arrived at by the Assessing Officer that the claim made by the assessee cannot be accepted, the Assessing Officer can then proceed to apply computation mode as provided in rule 8D(2) of the Rules.” 14. The dec…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Apeejay Shipping Ltd

In the result, these appeals are allowed and the substantial

ITA/26/2021HC Calcutta08 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…me Tax Versus JN Morison India 366 ITR which was referred to by the learned tribunal. For the same proposition reference was made to the decision in PCIT Versus M/s. Kesoram Industries 57 (2019) 417 ITR 334 (Bom) 58 361 ITR 162 59 (2019) 418 ITR 315 (SC) ITAT NO. 06 OF 2022 AND ETC. BATCH Page 61 of 150 Limited 60. Nextly, the learned senior counsel elaborately referred to the order passed by the tribunal, impugned before us and submitted that elaborate discussion on the facts has been done, the learned tribunal rightly held that there i…

ACIT 3(1)(1), Mumbai vs. Bajaj Hindustan Sugar Ltd, Mumbai

In the result, the cross objections of the assessee for both the years are allowed and the appeals of the Revenue for both the years are dismissed

ITA 2725/MUM/2017[2006-07]Status: DisposedITAT Mumbai30 Aug 2021AY 2006-07
Section 139(1)Section 143(3)Section 148Section 69

…e original assessment proceedings, by giving full and true disclosure. With regard to the failure on the part of the assessee, the ld. AR rightly placed reliance on the decision of the Hon‟ble High Court in the case of Sesa Sterlite Ltd., vs. ACIT reported in 417 ITR 334(Bom). The relevant operative portion of the said order is reproduced as under:- M/s. Bajaj Hindusthan Sugar Ltd., Formerly known as Bajaj Hindusthan Ltd.,) “21. The other main objection of the Assessee is that there was no belief on the part of the Assessing Officer that escapement of income had arisen by reason of any failure on the part of the…

Northern Arc Capital Ltd (Formerly Known As Ifmr Capital Finance Pvt Ltd), Chennai vs. DCIT, Corp Cir-4(2), Chennai

In the result, appeal filed by the assessee is partly

ITA 205/CHNY/2019[2014-15]Status: DisposedITAT Chennai18 Aug 2021AY 2014-15

Bench: Shri V.Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.No.205/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) M/S. Northern Arc Capital Ltd. Vs The Deputy Commissioner Of Income Tax, [Formerly Known As Ifmr Capital Finance Pvt.Ltd.] Corporate Circle-4(2) 10Th Floor, Phase-I. Chennai. Iit Madras Research Park, Kanagam Village, Taramani, Chennai-600 113. Pan: Aacci 0979B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Suresh Periasamy,JCITFor Respondent: 02.08.2021
Section 143(3)Section 14ASection 14A(2)

…आयकर अपील"य अ"धकरण,‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी वी.दुगा" राव, "या"यक सद"य एवं "ी जी.मंजुनाथ, लेखा सद"य के सम% BEFORE SHRI V.DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.No.205/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) M/s. Northern Arc Capital Ltd. Vs The Deputy Commissioner of Income Tax, [Formerly known as IFMR Capital Finance Pvt.Ltd.] Corporate Circle-4(2) 10th floor, Phase-I. Chennai. IIT Madras Research Park, Kanagam Village, Taramani, Chennai-600 113. PAN: AACCI 0979B (अपीलाथ"/Appellant) (""यथ"/Respondent)…

Johnson & Johnson Ltd, Mumbai vs. Addl CIT Large Taxpayer Unit, Mumbai

In the result, the appeal of the assessee is allowed in the terms aforesaid

ITA 4912/MUM/2013[2004-05]Status: DisposedITAT Mumbai10 Aug 2020AY 2004-05

Bench: Shri Vikas Awasthy & Shri Manoj Kumar Aggarwalआअसं. 4912/मुं/2013 ("न.व.2004-05) Johnson & Johnson Private Limited (Earlier Known As Johnson & Johnson Limited) 501, Arena Space, Off Jvlr, Behind Majas Bus Depot, Jogeshwari (East) Mumbai 400 060 Pan: Aaacj0866E ...... अपीलाथ" /Appellant बनाम Vs. Additional Commissioner Of Income Tax, Large Taxpayer Unit, 29Th Floor, Centre No.1, World Trade Centre, Cuffe Parade, Mumbai 400 005 ..... ""तवाद"/Respondent

For Appellant: Shri Rajan VoraFor Respondent: Shri Akhtar H. Ansari
Section 143(3)Section 147Section 148Section 234B

…to section 147 of the Act. To buttress his contentions, the ld. AR placed reliance on the following decisions:- (1) German Remedies Ltd. vs. DCIT, 287 ITR 494 (Bom.) (2) My Car (Pune) (Pvt.) Ltd. vs. ITO, 263 Taxman 626 (Bom.) (3) Sesa Sterlite Ltd. vs. ACIT, 417 ITR 334 (Bom.) 3.3. The ld. Authorized Representative of the assessee pointed that assessment for assessment year 2004-05 has been reopened for the reason that excess provision for royalty has been created in the books of accounts for financial year 2003-04. The ld. Authorized Representative of the assessee referred to details of royalty payment made du…

Ashapura Minechem Ltd, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle 3(3), Mumbai

In the result, the appeal is allowed

ITA 6974/MUM/2017[2011-12]Status: DisposedITAT Mumbai27 May 2020AY 2011-12

Bench: Us Is A Listed Public Limited Company Engaged In The Business Of Mining Bauxite & Selling The Same In Domestic As Well As International Market. The Assessee Had Filed An Income Tax Return Disclosing Total Loss Of Rs 509.11 Crores Whereas The Assessment Under

Section 143(3)Section 155J

…ITA No. 6974/Mum/17 Assessment year: 2011-12 Page 1 of 11 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘A’ BENCH, MUMBAI [Coram: Justice P P Bhatt (President) and Pramod Kumar (Vice President)] ITA No. 6974/Mum/17 Assessment year: 2011-12 Ashapura Minichem Limited ……………….………Appellant c/o H N Motiwala & Co, 50 Sharda Chambers, 33 New Marine Lines, Mumbai 400 020 [PAN: AAACA0957F] Vs Deputy Commissioner of Income Tax Central Circle 3(3), Mumbai ……………………Respondent Appearances by H N Motiwala for the appellant Anadi Verma for the respondent February 19th ,2020 Date of concluding the hearing: : Date of pronouncement…

Neel Bhupendra Dalal, Mumbai vs. ITO 4(2)(3), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 5170/MUM/2018[2011-12]Status: DisposedITAT Mumbai15 Jan 2020AY 2011-12

Bench: Shri Mahavir Singh & Shri G. Manjunatha

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER & SHRI G. MANJUNATHA, ACCOUNTANT MEMBER ITA No.5170 & 5171/Mum/2018 (Assessment Years: 2011-12 & 2012-13) Shri. Neel Bhupendra Dalal Vs. ITO-4(2)(3) 39, Ali Chambers, Tamarind Lane Mumbai Fort, Mumbai-400 001 PAN/GIR No.AACPD1862F Appellant) .. Respondent) Assessee by Shri. S.E.Dastur, Sr.Advocate Revenue by Shri. Kailash Mangal, DR Date of Hearing 17/12/2019 Date of Pronouncement 15/01/2020 आदेश आदेश / O R D E R आदेश आदेश PER G.MANJUNATHA, Accountant Member: These two appeals filed by the assessee are direc…