What is PCIT v. Nirma Credit & Capital (P.) Ltd. authority for?

The Assessing Officer must record objective satisfaction with the assessee's accounts before invoking Rule 8D for computing disallowance under Section 14A. Disallowance of interest expenditure under Section 14A is not warranted if the assessee possesses sufficient interest-free funds to make investments yielding exempt income.

How many judgments cite PCIT v. Nirma Credit & Capital (P.) Ltd.?

57 judgments on BharatTax cite PCIT v. Nirma Credit & Capital (P.) Ltd. (85 Taxmann.com 72), spanning 2018 to 2026.

Which sections of the Income Tax Act does PCIT v. Nirma Credit & Capital (P.) Ltd. come up under?

It is most often cited in judgments turning on Section 1961, Section 1962, Section 14A, Section 115JB of the Income-tax Act, Section 143(3), Section 143(3) of the Income-tax Act.

PCIT v. Nirma Credit & Capital (P.) Ltd. (85 Taxmann.com 72)

AURA SECURITIES PRIVATE LIMITED,AHMEDABAD vs. NFAC, DELHI PRESENT JURISDICTION THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

In the result, the appeal of the assessee is partly allowed for statistical purpose

ITA 1725/AHD/2024[2018-19]Status: DisposedITAT Ahmedabad12 Feb 2026AY 2018-19

Bench: Shri Tr Senthil Kumar & Shri Narendra Prasad Sinhaassessment Years: 2018-19

Section 143(3)Section 14ASection 36

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD BEFORE SHRI TR SENTHIL KUMAR, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Years: 2018-19 Aura Securities Private Ltd., NFAC, Delhi 1st Floor, Akshay Building, Present Jurisdiction – B/h Vadilal House, DCIT, Circle 1(1)(1), 53-Shrimali Society, Ahmedabad Navrangpura, Vs. Ahmedabad Gujarat - 380009 [PAN – AABCM0602L] (Appellant) (Respondent) Assessee by Shri Biren Shah, A.R. Revenue by Shri Abhijit, SR- DR Date of Hearing 04.02.2026 Date of Pronouncement 12.02.2026 O R D E R PER NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER:…

OPELINA FINANCE AND INVESTMENT LTD.,DELHI vs. ITO, WARD- 19(2), NEW DELHI

In the result, the appeal of the assessee is partly allowed

ITA 1423/DEL/2018[2014-15]Status: DisposedITAT Delhi15 Oct 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal[Assessment Year : 2014-15] M/S. Opelina Finance & Vs Ito, Investment Ltd., 28, Nazafgarh Ward-19(2), Room Road, Delhi-110015. No.217, C.R.Building, Pan-Aaaco5195R New Delhi-110002. Appellant Respondent Appellant By Shri Salil Kapoor, Ms. Soumya Singh, Ms. Ananya Kapoor, Shri Utkarsh Kumar Gupta, Advocates Respondent By Ms. Harpreet Kaur Hansra, Sr.Dr Date Of Hearing 17.07.2025 Date Of Pronouncement 15.10.2025 Order

Section 143(3)Section 14ASection 234ASection 250Section 271(1)(c)

…ITA No.1423/Del/2018 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “F” BENCH: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI MANISH AGARWAL, ACCOUNTANT MEMBER [Assessment Year : 2014-15] M/s. Opelina Finance & vs ITO, Investment Ltd., 28, Nazafgarh Ward-19(2), Room Road, Delhi-110015. No.217, C.R.Building, PAN-AAACO5195R New Delhi-110002. APPELLANT RESPONDENT Appellant by Shri Salil Kapoor, Ms. Soumya Singh, Ms. Ananya Kapoor, Shri Utkarsh Kumar Gupta, Advocates Respondent by Ms. Harpreet Kaur Hansra, Sr.DR Date of Hearing 17.07.2025 Date of Pronouncement 15.10.2025 ORDER PER MANISH AGARWAL,…

SHRINGAR DEVELOPERS PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER, WARD 13(2)(3), MUMBAI

In the result, appeal of the assessee is allowed

ITA 4899/MUM/2024[2016-17]Status: DisposedITAT Mumbai28 Feb 2025AY 2016-17

Bench: Shri Saktijit Dey, Hon’Ble & Shri Narendra Kumar Billaiya, Hon’Ble

For Appellant: Shri Yogesh Thar & Shri Deep Chauhan, A/RsFor Respondent: Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R

Section 10Section 143(1)Section 14ASection 36(1)(ii)Section 36(1)(iii)

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, HON’BLE VICE PRESIDENT & SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER I.T.A. No. 4899/Mum/2024 Assessment Year: 2016-17 Shringar Developers Private Limited ITO, Ward – 13(2)(3), Mumbai 303, Unique Tower Vs Gaiwadi Industrial Estate Behind Petrol Pump Off S.V. Road Goregaon (W) Mumbai - 400062 [PAN: AAJCS6868G] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Yogesh Thar & Shri Deep Chauhan, A/Rs Revenue by : Shri Bhangepatil Pushkaraj Ramesh, Sr. D/R सुनवाई की तारीख/Date of…

COMMERCIAL HOUSE PVT. LTD.,,KOLKATA vs. ITO, WARD - 6(1), KOLKATA

The appeal of the assessee is partly allowed

ITA 601/KOL/2024[2017-18]Status: DisposedITAT Kolkata11 Sept 2024AY 2017-18

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rakesh Mishra

Section 249Section 253Section 270ASection 3Section 5

…ITA No. 601/KOL/2024 (A.Y. 2017-2018) Commercial House Pvt. Limited THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Rakesh Mishra, Accountant Member I.T.A. No. 601/KOL/2024 Assessment Year: 2017-2018 Commercial House Pvt. Limited,…….….…..…Appellant C-4, Gillanders House, Netaji Subhas Road, B.B.D. Bag, Kolkata-700001 [PAN:AABCC2315G] -Vs.- Income Tax Officer,………………………….……Respondent Ward-6(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances by: Shri Akkal Dudhwewala, A.R., appeared on behalf of the assessee Shri L.N…

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee for the Asst Year 2010-11

ITA 1227/DEL/2015[2010-11]Status: DisposedITAT Delhi31 Jan 2024AY 2010-11

Bench: Shri Saktijit Dey & Shri M. Balaganeshm/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F M/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Anuj Garg, Sr. DR

Section 115JSection 143(3)Section 14A

…ed in Rule 8D(2)(ii) of the ITA No. 6512/Del/2013 ITA No. 1226 & 1227/Del/2015 M/s. The Hindustan Times Ltd Rules. Reliance in this regard is placed on the decision of Hon‟ble Gujarat High Court in the case of PCIT vs Nirma Credit & Capital P Ltd reported in 300 CTR 286 (Guj). Even otherwise, the assessee is having sufficient interest free funds in its kitty to make investments which had yielded exempt income. Accordingly, by placing reliance on the decision of Hon‟ble Supreme Court in the case of CIT vs Reliance Industries Ltd reported in 410 ITR 466 (SC), the disallowance of interest made thereon is hereby dir…

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee for the Asst Year 2010-11

ITA 1226/DEL/2015[2010-11]Status: DisposedITAT Delhi31 Jan 2024AY 2010-11

Bench: Shri Saktijit Dey & Shri M. Balaganeshm/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F M/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Anuj Garg, Sr. DR

Section 115JSection 143(3)Section 14A

…ed in Rule 8D(2)(ii) of the ITA No. 6512/Del/2013 ITA No. 1226 & 1227/Del/2015 M/s. The Hindustan Times Ltd Rules. Reliance in this regard is placed on the decision of Hon‟ble Gujarat High Court in the case of PCIT vs Nirma Credit & Capital P Ltd reported in 300 CTR 286 (Guj). Even otherwise, the assessee is having sufficient interest free funds in its kitty to make investments which had yielded exempt income. Accordingly, by placing reliance on the decision of Hon‟ble Supreme Court in the case of CIT vs Reliance Industries Ltd reported in 410 ITR 466 (SC), the disallowance of interest made thereon is hereby dir…

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee for the Asst Year 2010-11

ITA 6512/DEL/2013[2009-10]Status: DisposedITAT Delhi31 Jan 2024AY 2009-10

Bench: Shri Saktijit Dey & Shri M. Balaganeshm/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F M/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Anuj Garg, Sr. DR

Section 115JSection 143(3)Section 14A

…ed in Rule 8D(2)(ii) of the ITA No. 6512/Del/2013 ITA No. 1226 & 1227/Del/2015 M/s. The Hindustan Times Ltd Rules. Reliance in this regard is placed on the decision of Hon‟ble Gujarat High Court in the case of PCIT vs Nirma Credit & Capital P Ltd reported in 300 CTR 286 (Guj). Even otherwise, the assessee is having sufficient interest free funds in its kitty to make investments which had yielded exempt income. Accordingly, by placing reliance on the decision of Hon‟ble Supreme Court in the case of CIT vs Reliance Industries Ltd reported in 410 ITR 466 (SC), the disallowance of interest made thereon is hereby dir…

M/S. THE HINDUSTAN TIMES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, both the appeals of the assessee for the Asst Year 2010-11

ITA 1629/DEL/2012[2008-09]Status: DisposedITAT Delhi31 Jan 2024AY 2008-09

Bench: Shri Saktijit Dey & Shri M. Balaganeshm/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F M/S. The Hindustan Times Ltd, Vs. Dcit, 18-20, Kg Marg, New Delhi Circle-16(1), New Delhi (Appellant) (Respondent) Pan:Aaact4962F

For Appellant: Shri Rohit Jain, AdvFor Respondent: Shri Anuj Garg, Sr. DR

Section 115JSection 143(3)Section 14A

…ed in Rule 8D(2)(ii) of the ITA No. 6512/Del/2013 ITA No. 1226 & 1227/Del/2015 M/s. The Hindustan Times Ltd Rules. Reliance in this regard is placed on the decision of Hon‟ble Gujarat High Court in the case of PCIT vs Nirma Credit & Capital P Ltd reported in 300 CTR 286 (Guj). Even otherwise, the assessee is having sufficient interest free funds in its kitty to make investments which had yielded exempt income. Accordingly, by placing reliance on the decision of Hon‟ble Supreme Court in the case of CIT vs Reliance Industries Ltd reported in 410 ITR 466 (SC), the disallowance of interest made thereon is hereby dir…

THE JCIT (OSD), CIRELCE-1(1)(1), AHMEDABAD vs. MIEZA SCHOOL PVT. LTD(FORMERLY KNOWN AS ARIHANT ARCADE PVT. LTD), SURAT

In the result, ground number 2 of the Revenue’s appeal is hereby dismissed

ITA 772/AHD/2019[2012-13]Status: DisposedITAT Ahmedabad24 Jun 2022AY 2012-13

For Appellant: Shri P.D. Shah, A.RFor Respondent: Shri Mohd Usman, CIT-D.R

Section 14ASection 68

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA No. 772 /Ahd/2019 Assessment Year 2012-13 JCIT(OSD), Mieza School Pvt. Ltd. Circle-1(1)(1), (Formerly Known as Ahmedabad Vs Arihant Arcade Pvt. Ltd.), (Appellant) F.P. No. 29 Virtuous Retail, Nr. Dumas Resort, Surat Dumas Road, Magdalla, Surat-395007 PAN: AAGCA2476H (Respondent) Assessee by: Shri P.D. Shah, A.R. Revenue by: Shri Mohd Usman, CIT-D.R. Date of hearing : 02-06-2022 Date of pronouncement : 24-06-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUD…

THE DCIT, CIRCLE-1(1)(2), AHMEDABAD vs. M/S. CLP INDIA PVT. LTD.,, AHMEDABAD

In the result, the appeal of the Revenue is dismissed while the appeal of the assessee is partly allowed

ITA 249/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad15 Jun 2022AY 2014-15

Bench: Shri Pramod M. Jagtap & Ms. Suchitra Kambleassessment Year : 2014-15 Clp India Pvt. Ltd., 6Th Floor, Chanakya Building, Vs Dy. Commissioner Of Income-Tax, Off. Ashram Road, Navrangpura, Circle 1(1)(2), Ahmedabad-380009 Ahmedabad Pan : Aaacg 7999 P

For Appellant: Shri Vartik Chokshi, AR &For Respondent: Shri Vijay Kumar Jaiswal, CIT-DR &

Section 14A

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD ] ] BEFORE SHRI PRAMOD M. JAGTAP, VICE PRESIDENT AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2014-15 CLP India Pvt. Ltd., 6th Floor, Chanakya Building, Vs Dy. Commissioner of Income-tax, Off. Ashram Road, Navrangpura, Circle 1(1)(2), Ahmedabad-380009 Ahmedabad PAN : AAACG 7999 P ITA No. 249/Ahd/2020 & CO No. 1/Ahd/2021 Assessment Year : 2014-15 Dy. Commis…

CLP INDIA PVT. LTD.,AHMEDABAD vs. DCIT, CIRCLE-1(1)(2),, AHMEDABAD

In the result, the appeal of the Revenue is dismissed while the appeal of the assessee is partly allowed

ITA 162/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad15 Jun 2022AY 2014-15

Bench: Shri Pramod M. Jagtap & Ms. Suchitra Kambleassessment Year : 2014-15 Clp India Pvt. Ltd., 6Th Floor, Chanakya Building, Vs Dy. Commissioner Of Income-Tax, Off. Ashram Road, Navrangpura, Circle 1(1)(2), Ahmedabad-380009 Ahmedabad Pan : Aaacg 7999 P

For Appellant: Shri Vartik Chokshi, AR &For Respondent: Shri Vijay Kumar Jaiswal, CIT-DR &

Section 14A

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD ] ] BEFORE SHRI PRAMOD M. JAGTAP, VICE PRESIDENT AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year : 2014-15 CLP India Pvt. Ltd., 6th Floor, Chanakya Building, Vs Dy. Commissioner of Income-tax, Off. Ashram Road, Navrangpura, Circle 1(1)(2), Ahmedabad-380009 Ahmedabad PAN : AAACG 7999 P ITA No. 249/Ahd/2020 & CO No. 1/Ahd/2021 Assessment Year : 2014-15 Dy. Commis…

HDFC BANK LTD (SUCCESSOR TO BUSINSS OF CENTURION BANK OF PUNJAB LTD),MUMBAI vs. DCIT 2(3), MUMBAI

In the result, appeal is partly allowed

ITA 374/MUM/2012[2008-09]Status: DisposedITAT Mumbai13 Jan 2022AY 2008-09

Bench: Shri G.S.Pannu (Hon’Ble) & Shri Saktijit Dey (Hon’Ble)

Section 14A

…1 IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI G.S.PANNU (HON’BLE PRESIDENT) AND SHRI SAKTIJIT DEY (HON’BLE JUDICIAL MEMBER) I.T.A. No.374/Mum/2012 (Assessment year 2008-09) HDFC Bank Limited (Successor to vs Deputy Commissioner of Income-tax- Business of Centurion Bank of 2(3), Mumbai Punjab Limited), Senapati Bapat Marg, Lower Parel, Mumbai-400 013 PAN : AAACC2272R APPELLANT RESPONDENT Appellant by Shri J.D. MistrI, Sr.Counsel / Shri Madhur Agarwal / Shri Fenil Bhatt / Shri Chaitanya D Joshi Respondent by Shri P Chhotaray (Spl.Counsel) Date of hearing 18-10-2021 Date of order 13-01-2…

M/S GODREJ INVESTMENT PVT. LTD. (NOW AMALGAMATED WITH GODREJ & BOYCE MFG. CO. LTD.,MUMBAI vs. DCIT 14(1)(2), MUMBAI

Accordingly, ground raised by the assessee is allowed

ITA 3163/MUM/2019[2015-16]Status: DisposedITAT Mumbai26 Nov 2021AY 2015-16

Bench: Shri Mahavir Singh, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blem/S. Godrej Investments Pvt. Ltd., V. Dcit – Circle – 14(1)(2) M/S. Kalyaniwall & Mistry Llp Aayakar Bhavan, M.K. Road Esplande House, 2Nd Floor Mumbai - 400020 29, Hazarimal Somani Marg Fort, Mumbai – 400001 Pan: Aaacg1395D (Appellant) (Respondent) Assessee By : Shri Farrokh Irani Department By : Shri Ambuselvam

For Appellant: Shri Farrokh IraniFor Respondent: Shri Ambuselvam

Section 142(1)Section 143(2)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “G” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, HON'BLE VICE PRESIDENT AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER M/s. Godrej Investments Pvt. Ltd., v. DCIT – Circle – 14(1)(2) M/s. Kalyaniwall & Mistry LLP Aayakar Bhavan, M.K. Road Esplande House, 2nd Floor Mumbai - 400020 29, Hazarimal Somani Marg Fort, Mumbai – 400001 PAN: AAACG1395D (Appellant) (Respondent) Assessee by : Shri Farrokh Irani Department by : Shri Ambuselvam Date of Hearing : 07.09.2021 Date of Pronouncement : 26.11.2021 O R D E R PER S. RIFAUR RAHMAN (AM) 1. This appeal is filed by t…

EDELCAP SECURITIES LTD,MUMBAI vs. ACIT , CIRCLE 3(1)(2), MUMBAI

In the result, all the appeals of the Revenue as well as the assessee are partly allowed

ITA 6889/MUM/2018[2013-14]Status: DisposedITAT Mumbai28 Sept 2021AY 2013-14

Section 115JSection 143(3)

…should be considered while working out the disallowance of interest under Rule 8D(2)(ii) of the Rules. Reliance in this regard was placed on the decision of the Hon‟ble Gujarat High Court in the case of PCIT vs. Nirma Credit and Capital Pvt. Ltd., reported in 85 Taxmann.com 72. He further pleaded that only those investments which had actually yielded exempt income should be considered for the purpose of working out the disallowance under Rule 8D(2)(ii) and under Rule 8D(2)(iii) of the Rules. 4.4. We find that the Hon‟ble Gujarat High Court in the case of Nirma Credit and Capital Pvt. Ltd., referred to supra had…

THE SRI GOPIKRISHNA TRUST,MUMBAI vs. ASST CIT 21 (3), MUMBAI

Accordingly, the appeal filed by the Revenue is dismissed

ITA 7005/MUM/2019[2015-16]Status: DisposedITAT Mumbai30 Aug 2021AY 2015-16

Bench: Shri S. Rifaur Rahman () & Shri Ravish Sood () Assessment Year: 2015-16 Acit-22(3), The Sri Gopikrishna Trust, 305, 3Rd Floor, Piramal Chambers, Vs. Piramal Tower, Ganpatrao Lalbaug, Parel, Kadam Marg, Lower Parel, Mumbai-400012. Mumbai-400013 Pan No. Aabtt 1795 Q Appellant Respondent Assessment Year: 2015-16 The Sri Gopikrishna Trust, Acit-21(3), Piramal Tower, Ganpatrao Kadam Vs. Room No. 209, Piramal Chambers, Marg, Lower Parel, Lalbaug, Parel, Mumbai-400012. Mumbai-400013 Pan No. Aabtt 1795 Q Appellant Respondent

For Appellant: Mr. Ronak G. Doshi &For Respondent: Mr. Gurbinder Singh, DR

Section 143(2)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H” MUMBAI BEFORE SHRI S. RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) Assessment Year: 2015-16 ACIT-22(3), The Sri Gopikrishna Trust, 305, 3rd floor, Piramal Chambers, Vs. Piramal Tower, Ganpatrao Lalbaug, Parel, Kadam Marg, Lower Parel, Mumbai-400012. Mumbai-400013 PAN No. AABTT 1795 Q Appellant Respondent Assessment Year: 2015-16 The Sri Gopikrishna Trust, ACIT-21(3), Piramal Tower, Ganpatrao Kadam Vs. Room No. 209, Piramal Chambers, Marg, Lower Parel, Lalbaug, Parel, Mumbai-400012. Mumbai-400013 PAN No. AABTT 1795 Q Appellant Respon…

ACIT 22 (3), MUMBAI vs. THE SRI GOPIKRISHNA TRUST, MUMBAI

Accordingly, the appeal filed by the Revenue is dismissed

ITA 6795/MUM/2019[2015-16]Status: DisposedITAT Mumbai30 Aug 2021AY 2015-16

Bench: Shri S. Rifaur Rahman () & Shri Ravish Sood () Assessment Year: 2015-16 Acit-22(3), The Sri Gopikrishna Trust, 305, 3Rd Floor, Piramal Chambers, Vs. Piramal Tower, Ganpatrao Lalbaug, Parel, Kadam Marg, Lower Parel, Mumbai-400012. Mumbai-400013 Pan No. Aabtt 1795 Q Appellant Respondent Assessment Year: 2015-16 The Sri Gopikrishna Trust, Acit-21(3), Piramal Tower, Ganpatrao Kadam Vs. Room No. 209, Piramal Chambers, Marg, Lower Parel, Lalbaug, Parel, Mumbai-400012. Mumbai-400013 Pan No. Aabtt 1795 Q Appellant Respondent

For Appellant: Mr. Ronak G. Doshi &For Respondent: Mr. Gurbinder Singh, DR

Section 143(2)Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H” MUMBAI BEFORE SHRI S. RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) Assessment Year: 2015-16 ACIT-22(3), The Sri Gopikrishna Trust, 305, 3rd floor, Piramal Chambers, Vs. Piramal Tower, Ganpatrao Lalbaug, Parel, Kadam Marg, Lower Parel, Mumbai-400012. Mumbai-400013 PAN No. AABTT 1795 Q Appellant Respondent Assessment Year: 2015-16 The Sri Gopikrishna Trust, ACIT-21(3), Piramal Tower, Ganpatrao Kadam Vs. Room No. 209, Piramal Chambers, Marg, Lower Parel, Lalbaug, Parel, Mumbai-400012. Mumbai-400013 PAN No. AABTT 1795 Q Appellant Respon…

M/S C G PARIVATE LTD.,THANE vs. ITO 15 (1)(3), MUMBAI

In the result, this appeal is allowed

ITA 7317/MUM/2019[2016-17]Status: DisposedITAT Mumbai04 Aug 2021AY 2016-17

Section 143(3)Section 14ASection 40

…ITA No. 7317/Mum/2019 Assessment Year: 2016-17 Page 1 of 4 INCOME TAX APPELLATE TRIBUNAL MUMBAI ‘SMC’ BENCH, MUMBAI [Coram: Pramod Kumar (Vice President)] Assessment Year: 2016-17 M/s. C.G Parivar Pvt Ltd. ....………………. Appellant EL-86, MIDC Industrial Area Mahape, Thane 4007014 [PAN: AACCC5307R] Vs. Income Tax Officer-15(1)(3) Mumbai. ....……………….Respondent Appearances: Veerkumar Shah for the appellant Sunil Deshpande for the respondent Date of concluding the hearing : May 13, 2021 Date of pronouncement : August 4, 2021 O R D E R Per Pramod Kumar, VP: 1. By way of this appeal, the assessee-appellant has challe…

RAJ JAY INVESTMENT PVT. LTD,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD

In the result, appeal of the Revenue for the A

ITA 1436/AHD/2018[2010-11]Status: DisposedITAT Ahmedabad03 Jun 2021AY 2010-11

Bench: Shri Rajpal Yadav, Vice- & Shri Amarjit Sinh

For Appellant: Written submissionsFor Respondent: Shri R.R. Makwana, Sr.DR

Section 115JSection 132Section 143(3)Section 147Section 14ASection 153A

…he assessee supported orders of the ld.CIT(A) so far as disallowance of interest expenditure. Assessee relied on the proposition that when there is net interest income, then no disallowance can take place under Rule 8D, as held in Nirma Credit & Capital Ltd., 300 CTR 286, and that it is the difference between the interest paid and the interest earned which should be considered as assessee’s interest expenditure for working out formula prescribed under rule 8D. In other words, for computation of disallowance under Rule 8D, not the gross interest payment, but the net interest payment would be considered. As far as…

RAJ JAY INVESTMENT PVT. LTD,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD

In the result, appeal of the Revenue for the A

ITA 1435/AHD/2018[2009-10]Status: DisposedITAT Ahmedabad03 Jun 2021AY 2009-10

Bench: Shri Rajpal Yadav, Vice- & Shri Amarjit Sinh

For Appellant: Written submissionsFor Respondent: Shri R.R. Makwana, Sr.DR

Section 115JSection 132Section 143(3)Section 147Section 14ASection 153A

…he assessee supported orders of the ld.CIT(A) so far as disallowance of interest expenditure. Assessee relied on the proposition that when there is net interest income, then no disallowance can take place under Rule 8D, as held in Nirma Credit & Capital Ltd., 300 CTR 286, and that it is the difference between the interest paid and the interest earned which should be considered as assessee’s interest expenditure for working out formula prescribed under rule 8D. In other words, for computation of disallowance under Rule 8D, not the gross interest payment, but the net interest payment would be considered. As far as…

THE DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD vs. M/S. RAJ JAY INVESTMENT PVT. LTD.,, AHMEDABAD

In the result, appeal of the Revenue for the A

ITA 1125/AHD/2018[2010-11]Status: DisposedITAT Ahmedabad03 Jun 2021AY 2010-11

Bench: Shri Rajpal Yadav, Vice- & Shri Amarjit Sinh

For Appellant: Written submissionsFor Respondent: Shri R.R. Makwana, Sr.DR

Section 115JSection 132Section 143(3)Section 147Section 14ASection 153A

…he assessee supported orders of the ld.CIT(A) so far as disallowance of interest expenditure. Assessee relied on the proposition that when there is net interest income, then no disallowance can take place under Rule 8D, as held in Nirma Credit & Capital Ltd., 300 CTR 286, and that it is the difference between the interest paid and the interest earned which should be considered as assessee’s interest expenditure for working out formula prescribed under rule 8D. In other words, for computation of disallowance under Rule 8D, not the gross interest payment, but the net interest payment would be considered. As far as…

PCIT v. Nirma Credit & Capital (P.) Ltd.

What is PCIT v. Nirma Credit & Capital (P.) Ltd. authority for?

Also referred to as

Also reported as

Sections most often in play

Issues it is cited on

Judgments citing PCIT v. Nirma Credit & Capital (P.) Ltd.

AURA SECURITIES PRIVATE LIMITED,AHMEDABAD vs. NFAC, DELHI PRESENT JURISDICTION THE DCIT, CIRCLE-1(1)(1), AHMEDABAD

OPELINA FINANCE AND INVESTMENT LTD.,DELHI vs. ITO, WARD- 19(2), NEW DELHI

SHRINGAR DEVELOPERS PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER, WARD 13(2)(3), MUMBAI

COMMERCIAL HOUSE PVT. LTD.,,KOLKATA vs. ITO, WARD - 6(1), KOLKATA

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

THE HINDUSTAN TIMES LTD.,NEW DELHI vs. ACIT, NEW DELHI

M/S. THE HINDUSTAN TIMES LTD.,NEW DELHI vs. DCIT, NEW DELHI

THE JCIT (OSD), CIRELCE-1(1)(1), AHMEDABAD vs. MIEZA SCHOOL PVT. LTD(FORMERLY KNOWN AS ARIHANT ARCADE PVT. LTD), SURAT

THE DCIT, CIRCLE-1(1)(2), AHMEDABAD vs. M/S. CLP INDIA PVT. LTD.,, AHMEDABAD

CLP INDIA PVT. LTD.,AHMEDABAD vs. DCIT, CIRCLE-1(1)(2),, AHMEDABAD

HDFC BANK LTD (SUCCESSOR TO BUSINSS OF CENTURION BANK OF PUNJAB LTD),MUMBAI vs. DCIT 2(3), MUMBAI

M/S GODREJ INVESTMENT PVT. LTD. (NOW AMALGAMATED WITH GODREJ & BOYCE MFG. CO. LTD.,MUMBAI vs. DCIT 14(1)(2), MUMBAI

EDELCAP SECURITIES LTD,MUMBAI vs. ACIT , CIRCLE 3(1)(2), MUMBAI

THE SRI GOPIKRISHNA TRUST,MUMBAI vs. ASST CIT 21 (3), MUMBAI

ACIT 22 (3), MUMBAI vs. THE SRI GOPIKRISHNA TRUST, MUMBAI

M/S C G PARIVATE LTD.,THANE vs. ITO 15 (1)(3), MUMBAI

RAJ JAY INVESTMENT PVT. LTD,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD

RAJ JAY INVESTMENT PVT. LTD,AHMEDABAD vs. DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD

THE DCIT, CENTRAL CIRCLE-2(3),, AHMEDABAD vs. M/S. RAJ JAY INVESTMENT PVT. LTD.,, AHMEDABAD