PCIT v. Oil Industry Development Board

103 Taxmann.com 326Supreme Court of India2019#877 most cited

What is PCIT v. Oil Industry Development Board authority for?

For disallowing expenditure under Section 14A, the Assessing Officer must consider the actual income generated, and merely using the average value of gross investment for computing disallowance is incorrect.

120

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2026.

Also referred to as

PCIT v. Oil Industry Development Board · 103 Taxmann.com 326 · Section 14A · Rule 8D · disallowance of expenditure · exempt income · computation of disallowance · average value of gross investment · income consideration for disallowance · PCIT v OIDB

Also reported as

262 Taxmann 102

Sections most often in play

Section 14ASection 143(3)Section 8DSection 250Section 37(1)Section 115JBSection 43BSection 144B

Issues it is cited on

section 14a(3)section 36(i)(iii)section 36(i)(va)section 36(l)(va)section 92b(1)section 36(l)(iii)section 92(1)amp expenditurer&d expendituresection 36(l)section 10(33)section 92ba

Judgments citing PCIT v. Oil Industry Development Board

AURO INFRA PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

In the result, appeal of the Assessee is dismissed as infructuous

ITA 1045/HYD/2025[2020-21]Status: HeardITAT Hyderabad11 Feb 2026AY 2020-21

Bench: Shri Vijay Pal Rao & Shri Manjunatha G.आ.अपी.सं /Ita No.1045/Hyd/2025 Assessment Year 2020-2021 Auro Infra Private Limited, Hyderabad. The Dcit, Pin – 500 081. Vs. Circle-1(1), Hyderabad. Pan Aaoca6755B Telangana. (Appellant) (Respondent) िनधा"रती "ारा /Assessee By: Sri Bg Reddy, Advocate राज" व "ारा /Revenue By: Dr. Narendra Kumar Naik, Cit-Dr सुनवाई की तारीख/Date Of Hearing: 09.02.2026 घोषणा की तारीख/Pronouncement: 11.02.2026 आदेश/Order

For Appellant: Sri BG Reddy, AdvocateFor Respondent: Dr. Narendra Kumar Naik, CIT-DR
Section 14ASection 263

…आयकर अपील"य अ"धकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MANJUNATHA G. ACCOUNTANT MEMBER आ.अपी.सं /ITA No.1045/Hyd/2025 Assessment Year 2020-2021 Auro Infra Private Limited, Hyderabad. The DCIT, PIN – 500 081. vs. Circle-1(1), Hyderabad. PAN AAOCA6755B Telangana. (Appellant) (Respondent) िनधा"रती "ारा /Assessee by: Sri BG Reddy, Advocate राज" व "ारा /Revenue by: Dr. Narendra Kumar Naik, CIT-DR सुनवाई की तारीख/Date of hearing: 09.02.2026 घोषणा की तारीख/Pronouncement: 11.02.2026 आदेश/ORDER PER VIJAY PAL RAO, VICE PR…

ACIT., CIRCLE-5(1), HYDERABAD vs. ENGENRIN HYDRO POWER LIMITED, HYDERABAD

In the result, all the four appeals filed by the Revenue are dismissed

ITA 831/HYD/2024[2018-19]Status: DisposedITAT Hyderabad04 Feb 2026AY 2018-19

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 115JSection 14ASection 14A(3)

…आयकर अपीऱीय न्यायाधिकरण में, हैदराबाद „ए‟ बेंच, हैदराबाद IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad “A” Bench, Hyderabad श्री मंजुनाथा जी., माननीय ऱेखा सदस्य एवं श्री रवीश सूद, माननीय न्याययक सदस्य SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.828/Hyd/2024 to 831/Hyd/2024 (ननधधारण वर्ा/ Assessment Year: 2016-17, 2017-18 and 2018-19) Asst.Commissioner of Vs. Engenrin Hydro Power Income Tax Limited Circle-5(1) Hyderabad Hyderabad PAN : AABCV6385R (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ : Shri P. Murali Mohan Ra…

ACIT., CIRCLE-5(1), HYDERABAD vs. ENGENRIN HYDRO POWER LIMITED, HYDERABAD

In the result, all the four appeals filed by the Revenue are dismissed

ITA 830/HYD/2024[2018-19]Status: DisposedITAT Hyderabad04 Feb 2026AY 2018-19

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 115JSection 14ASection 14A(3)

…आयकर अपीऱीय न्यायाधिकरण में, हैदराबाद „ए‟ बेंच, हैदराबाद IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad “A” Bench, Hyderabad श्री मंजुनाथा जी., माननीय ऱेखा सदस्य एवं श्री रवीश सूद, माननीय न्याययक सदस्य SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.828/Hyd/2024 to 831/Hyd/2024 (ननधधारण वर्ा/ Assessment Year: 2016-17, 2017-18 and 2018-19) Asst.Commissioner of Vs. Engenrin Hydro Power Income Tax Limited Circle-5(1) Hyderabad Hyderabad PAN : AABCV6385R (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ : Shri P. Murali Mohan Ra…

ACIT., CIRCLE-5(1), HYDERABAD vs. ENGENRIN HYDRO POWER LIMITED, HYDERABAD

In the result, all the four appeals filed by the Revenue are dismissed

ITA 829/HYD/2024[2017-18]Status: DisposedITAT Hyderabad04 Feb 2026AY 2017-18

Bench: SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 115JSection 14ASection 14A(3)

…आयकर अपीऱीय न्यायाधिकरण में, हैदराबाद „ए‟ बेंच, हैदराबाद IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad “A” Bench, Hyderabad श्री मंजुनाथा जी., माननीय ऱेखा सदस्य एवं श्री रवीश सूद, माननीय न्याययक सदस्य SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.828/Hyd/2024 to 831/Hyd/2024 (ननधधारण वर्ा/ Assessment Year: 2016-17, 2017-18 and 2018-19) Asst.Commissioner of Vs. Engenrin Hydro Power Income Tax Limited Circle-5(1) Hyderabad Hyderabad PAN : AABCV6385R (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ : Shri P. Murali Mohan Ra…

ACIT., CIRCLE-5(1), HYDERABAD vs. ENGENRIN HYDRO POWER LIMITED, HYDERABAD

In the result, all the four appeals filed by the Revenue are dismissed

ITA 828/HYD/2024[2016-17]Status: DisposedITAT Hyderabad04 Feb 2026AY 2016-17

Bench: SHRI G. MANJUNATHA, HON’BLE (Accountant Member), SHRI RAVISH SOOD, HON’BLE (Judicial Member)

Section 115JSection 14ASection 14A(3)

…आयकर अपीऱीय न्यायाधिकरण में, हैदराबाद „ए‟ बेंच, हैदराबाद IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad “A” Bench, Hyderabad श्री मंजुनाथा जी., माननीय ऱेखा सदस्य एवं श्री रवीश सूद, माननीय न्याययक सदस्य SHRI G. MANJUNATHA, HON’BLE ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, HON’BLE JUDICIAL MEMBER आयकरअपीलसं./I.T.A.Nos.828/Hyd/2024 to 831/Hyd/2024 (ननधधारण वर्ा/ Assessment Year: 2016-17, 2017-18 and 2018-19) Asst.Commissioner of Vs. Engenrin Hydro Power Income Tax Limited Circle-5(1) Hyderabad Hyderabad PAN : AABCV6385R (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) करदाता का प्रतततितित्व/ : Shri P. Murali Mohan Ra…

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

ITA 1084/HYD/2024[2018-19]Status: DisposedITAT Hyderabad21 Jan 2026AY 2018-19
For Appellant: Shri Sourabh Soparkar, Advocate Represented by Department : Dr. Narendra Kumar NFor Respondent: Dr. Narendra Kumar Naik, CIT-DR Date of Conclusion of Hearing : 11/11/2025
Section 143(3)Section 144BSection 14ASection 68Section 80Section 801ASection 80GSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad 'B' Bench, Hyderabad Before Shri Manjunatha G., Accountant Member and Shri Ravish Sood, Judicial Member (Hybrid Hearing) INCOME TAX APPEAL NOS./I.T.A. NO.1083/HYD/2024 (Assessment Year:2017-18) Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad. (Appellant) VS. Penna Cement Industries Limited, Hyderabad. PAN: AABCP2290D (Respondent) INCOME TAX APPEAL NOS./I.T.A. NO.1084/HYD/2024 (Assessment Year:2018-19) Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad. (Appellant) VS. Penna Cement Industries Limited, Hyderabad. PAN: AABCP2290D (Respondent) Repr…

ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

ITA 1083/HYD/2024[2017-18]Status: DisposedITAT Hyderabad21 Jan 2026AY 2017-18

Bench: Shri Manjunatha G. & Shri Ravish Sood(Hybrid Hearing) आयकर अपीलसं./I.T.A. No.1083/Hyd/2024 (निर्धारणवर्ष/ Assessment Year:2017-18) Assistant Commissioner Of Income Tax, Circle-5(1), Hyderabad. (अपीलार्थी/ Appellant) Vs. Penna Cement Limited, Hyderabad. Pan: Aabcp2290D (प्रत्यर्थी / Respondent) Industries आयकर अपीलसं./I.T.A. No.1084/Hyd/2024 (निर्धारणवर्ष/ Assessment Year:2018-19) Assistant Commissioner Of Income Tax, Circle-5(1), Hydeabad. (अपीलार्थी/ Appellant) Vs. Penna Cement Industries Limited, Hyderabad. Pan: Aabcp2290D (प्रत्यर्थी / Respondent) करदाताकाप्रतिनिधित्व/ Assessee Represented By : Shri Sourabh Soparkar, Advocate राजस्वकाप्रतिनिधित्व/ Department Represented By : Dr. Narendra Kumar Naik, Cit-Dr सुनवाईसमाप्तहोनेकीतिथि/ Date Of Conclusion Of Hearing : 11/11/2025 घोषणा की तारीख/ Date Of Pronouncement : 21/01/2026 2

Section 143(3)Section 144BSection 14ASection 68Section 80Section 801ASection 80GSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad 'B' Bench, Hyderabad Before Shri Manjunatha G., Accountant Member and Shri Ravish Sood, Judicial Member (Hybrid Hearing) आयकर अपीलसं./I.T.A. No.1083/Hyd/2024 (निर्धारणवर्ष/ Assessment Year:2017-18) Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad. (अपीलार्थी/ Appellant) VS. Penna Cement Limited, Hyderabad. PAN: AABCP2290D (प्रत्यर्थी / Respondent) Industries आयकर अपीलसं./I.T.A. No.1084/Hyd/2024 (निर्धारणवर्ष/ Assessment Year:2018-19) Assistant Commissioner of Income Tax, Circle-5(1), Hydeabad. (अपीलार्थी/ Appellant) VS. Penna Cement Industries Limited, Hy…

APEX URBAN INFRASTRUCTURE PRIVATE LIMITED,HYDERABAD vs. DCIT, CENTRAL CIRCLE-2(3), HYDERABAD

Accordingly, we herein direct the AO to vacate the disallowance of Rs. 13,200/- made by him. The Grounds of appeal Nos. 2 and 3 are allowed in terms of our aforesaid observations

ITA 1778/HYD/2025[2017-18]Status: DisposedITAT Hyderabad13 Jan 2026AY 2017-18

Bench: Shri Manjunatha G. & Shri Ravish Soodआ.अपी.सं /Ita No.1778/Hyd/2025 (िनधा"रण वष"/Assessment Year:2017-18) Apex Urban Infrastructure Vs. Dcit, Private Limited, Central Circle-2(3), Hyderabad. Hyderabad. Pan: Aafcp1027Q (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By: Shri K. Vinoth Kannan, Sr. Ar सुनवाई की तारीख/Date Of Hearing: 06/01/2026 घोषणा की तारीख/Date Of 13/01/2026 Pronouncement: आदेश / Order Per. Ravish Sood, J.M: The Present Appeal Filed By The Assessee Company Is Directed Against The Order Passed By The Commissioner Of Income Tax (Appeals)- 12, Hyderabad, Which In Turn Arises From The Order Passed By The Assessing Officer (For Short, “Ao”) Under Section 143(3) Of The Income Tax Act, 1961 (For Short, “The Act”), Dated 31/10/2019 For The Assessment Year (Ay) 2017-18. The Assessee Company Has Assailed The Impugned Order Of The Cit(A) On The Following Grounds Of Appeal Before Us:

For Appellant: Shri P. Murali Mohan RaoFor Respondent: Shri K. Vinoth Kannan, Sr
Section 143(3)Section 14ASection 14A(2)Section 250Section 37Section 37(1)

…आयकर अपीलीय अिधकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad Before Shri Manjunatha G., Accountant Member and Shri Ravish Sood, Judicial Member आ.अपी.सं /ITA No.1778/Hyd/2025 (िनधा"रण वष"/Assessment Year:2017-18) Apex Urban Infrastructure Vs. DCIT, Private Limited, Central Circle-2(3), Hyderabad. Hyderabad. PAN: AAFCP1027Q (Appellant) (Respondent) िनधा""रती "ारा/Assessee by: Shri P. Murali Mohan Rao, CA राज" व "ारा/Revenue by: Shri K. Vinoth Kannan, Sr. AR सुनवाई की तारीख/Date of Hearing: 06/01/2026 घोषणा की तारीख/Date of 13/01/2026 Pronouncement: आदेश / ORDER PER. RAVIS…

SAURASHTRA CEMENT LIMITED,PORBANDAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, JAMNAGAR, JAMNAGAR

In the result, appeal filed by the assessee is allowed

ITA 307/RJT/2024[2018-19]Status: DisposedITAT Rajkot08 Jan 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.307/Rjt/2024 िनधा"रणवष"/ Assessment Year: 2018-19 Saurashtra Cement Ltd. Principal Commissioner Of Near Railway Station, बनाम Income Tax, Jamnagar, Saurashtra Cement Factory, Jamnagar Vs. P.O. Ranavav, Adityana Road, Porbandar, Gujarat-360560 Pan : Aahfs5211J (अपीलाथ"/Assessee) : (""थ"/Respondent) िनधा"रती की ओर से/Assessee By : Shri Vimal Desai, Ld.Ar राज" की ओर से/Revenue By : Shri Sanja Punglia, Ld. Cit-Dr सुनवाई की तारीख/Date Of Hearing : 16/10/2025 घोषणा की तारीख/Date Of Pronouncement : 08/01/2026 Order

For Appellant: Shri Vimal Desai, ld.ARFor Respondent: Shri Sanja Punglia, Ld. CIT-DR
Section 143(3)Section 14ASection 263Section 36(1)(iii)

…आयकर अपीलीय अिधकरण, राजकोट "ायपीठ, राजकोट। IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आयकर अपील सं/.ITA No.307/RJT/2024 िनधा"रणवष"/ Assessment Year: 2018-19 Saurashtra Cement Ltd. Principal Commissioner of Near Railway Station, बनाम Income Tax, Jamnagar, Saurashtra Cement Factory, Jamnagar Vs. P.O. Ranavav, Adityana Road, Porbandar, Gujarat-360560 PAN : AAHFS5211J (अपीलाथ"/Assessee) : (""थ"/Respondent) िनधा"रती की ओर से/Assessee by : Shri Vimal Desai, ld.AR राज" की ओर से/Revenue by : Shri Sanja Punglia, L…

DCIT, CENTRAL CIRCLE-20, DELHI vs. LOTUS HERBALS PVT. LTD, DELHI

In the result, appeal of the Revenue in appeal No

ITA 2445/DEL/2023[2016-17]Status: DisposedITAT Delhi23 Dec 2025AY 2016-17

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…the disallowance. Therefore, the action of the AO in considering the average value of gross value of investment is not correct. This view is supported by the judgement of hon’ble Supreme court in the case of CIT Vs. Oil Industry Development Board reported in 103 Taxmann.com 326 (SC), of hon’ble Delhi High Court in the case ACB India Ltd. (supra) and further of hon’ble Special Bench of Delhi Tribunal in the case of ACIT, Circle-17(1), New Delhi vs Vireet Investment (P.) Ltd. reported in [2017] 82 taxmann.com 415 (Delhi-Trib.) (SB). 35. In view of the above facts and discussions and by respectfully following the…

DCIT, CC-20, DELHI vs. LOTUS HERBALS PVT. LTD., DELHI

In the result, appeal of the Revenue in appeal No

ITA 2444/DEL/2023[2015-16]Status: DisposedITAT Delhi23 Dec 2025AY 2015-16

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…the disallowance. Therefore, the action of the AO in considering the average value of gross value of investment is not correct. This view is supported by the judgement of hon’ble Supreme court in the case of CIT Vs. Oil Industry Development Board reported in 103 Taxmann.com 326 (SC), of hon’ble Delhi High Court in the case ACB India Ltd. (supra) and further of hon’ble Special Bench of Delhi Tribunal in the case of ACIT, Circle-17(1), New Delhi vs Vireet Investment (P.) Ltd. reported in [2017] 82 taxmann.com 415 (Delhi-Trib.) (SB). 35. In view of the above facts and discussions and by respectfully following the…

DCIT, CC-20, DELHI vs. LOTUS HERBALS PVT. LTD., DELHI

In the result, appeal of the Revenue in appeal No

ITA 2443/DEL/2023[2014-15]Status: DisposedITAT Delhi23 Dec 2025AY 2014-15

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…the disallowance. Therefore, the action of the AO in considering the average value of gross value of investment is not correct. This view is supported by the judgement of hon’ble Supreme court in the case of CIT Vs. Oil Industry Development Board reported in 103 Taxmann.com 326 (SC), of hon’ble Delhi High Court in the case ACB India Ltd. (supra) and further of hon’ble Special Bench of Delhi Tribunal in the case of ACIT, Circle-17(1), New Delhi vs Vireet Investment (P.) Ltd. reported in [2017] 82 taxmann.com 415 (Delhi-Trib.) (SB). 35. In view of the above facts and discussions and by respectfully following the…

DCIT, CC-20, DELHI vs. LOTUS HERBALS PVT. LTD., DELHI

In the result, appeal of the Revenue in appeal No

ITA 2442/DEL/2023[2013-14]Status: DisposedITAT Delhi23 Dec 2025AY 2013-14

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…the disallowance. Therefore, the action of the AO in considering the average value of gross value of investment is not correct. This view is supported by the judgement of hon’ble Supreme court in the case of CIT Vs. Oil Industry Development Board reported in 103 Taxmann.com 326 (SC), of hon’ble Delhi High Court in the case ACB India Ltd. (supra) and further of hon’ble Special Bench of Delhi Tribunal in the case of ACIT, Circle-17(1), New Delhi vs Vireet Investment (P.) Ltd. reported in [2017] 82 taxmann.com 415 (Delhi-Trib.) (SB). 35. In view of the above facts and discussions and by respectfully following the…

DCIT, CENTRAL CIRCLE-20, NEW DELHI vs. LOTUS HERBALS P.LTD, DELHI

In the result, appeal of the Revenue in appeal No

ITA 200/DEL/2023[2019-20]Status: DisposedITAT Delhi23 Dec 2025AY 2019-20

Bench: Shri Sudhir Kumar & Shri Manish Agarwalita No.2442 To 2445/Del/2023 (Assessment Years 2013-14 To 2016-17) Dcit, Lotus Herbals Pvt. Ltd., Cc-20, Delhi. Room No.269A, 2 Nd Floor, Ara Vs. Centre, E-2, Jhandewalan, New Delhi-110055. Pan-Aaacl0198F (Appellant) (Respondent) Assessee By Shri Rohit Jain, Adv. & Shri Shivam Gupta, Ca Department By Sh. Mukesh Jha, Cit Dr & Ms. Pooja Swroop, Cit-Dr 29.09.2025 Date Of Hearing Date Of Pronouncement 23.12.2025 O R D E R Per Manish Agarwal, Am: These Are Five Appeals Filed By The Revenue Against The Separate Orders Of Learned Commissioner Of Income Tax (Appeals)-27, New Delhi. All Are Dated 12.06.2023 For Assessment Years As Tabulated As Under:

Section 143Section 143(3)Section 147Section 148Section 151

…the disallowance. Therefore, the action of the AO in considering the average value of gross value of investment is not correct. This view is supported by the judgement of hon’ble Supreme court in the case of CIT Vs. Oil Industry Development Board reported in 103 Taxmann.com 326 (SC), of hon’ble Delhi High Court in the case ACB India Ltd. (supra) and further of hon’ble Special Bench of Delhi Tribunal in the case of ACIT, Circle-17(1), New Delhi vs Vireet Investment (P.) Ltd. reported in [2017] 82 taxmann.com 415 (Delhi-Trib.) (SB). 35. In view of the above facts and discussions and by respectfully following the…

DCIT, MUMBAI vs. HUBTOWN LIMITED , MUMBAI

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

ITA 3038/MUM/2025[2018 19]Status: DisposedITAT Mumbai10 Dec 2025

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Madhur Agarwal a/w Shri FenilFor Respondent: Shri Ritesh Misra, CIT DR
Section 132Section 132(4)Section 135Section 14ASection 153ASection 250Section 37(1)Section 69ASection 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A No.1601/Mum/2025 (Assessment Year: 2018-19) Hubtown Limited vs Assistant Commissioner of Hubtown Seasons, CTS No. Income-tax, Central Circle-2(4), 469A, Opp. Jain Temple, R.K. Mumbai Room No.802, 8th Floor, Pratishtha Chembur Marg, Chembur East, Mumbai-400 071 Bhavan, Old CGO Annexe, M.K. PAN : AAACA6101D Road, Mumbai-400 020 APPELLANT RESPONDENT I.T.A No.3038 /Mum/2025 (Assessment Year: 2018-19) Assistant Commissioner of vs Hubtown Limited Income-tax…

HUBTOWN LIMITED,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(4), MUMBAI

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

ITA 1601/MUM/2025[2018-19]Status: DisposedITAT Mumbai10 Dec 2025AY 2018-19

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

For Appellant: Shri Madhur Agarwal a/w Shri FenilFor Respondent: Shri Ritesh Misra, CIT DR
Section 132Section 132(4)Section 135Section 14ASection 153ASection 250Section 37(1)Section 69ASection 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E”, MUMBAI BEFORE SHRI ANIKESH BANERJEE, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER I.T.A No.1601/Mum/2025 (Assessment Year: 2018-19) Hubtown Limited vs Assistant Commissioner of Hubtown Seasons, CTS No. Income-tax, Central Circle-2(4), 469A, Opp. Jain Temple, R.K. Mumbai Room No.802, 8th Floor, Pratishtha Chembur Marg, Chembur East, Mumbai-400 071 Bhavan, Old CGO Annexe, M.K. PAN : AAACA6101D Road, Mumbai-400 020 APPELLANT RESPONDENT I.T.A No.3038 /Mum/2025 (Assessment Year: 2018-19) Assistant Commissioner of vs Hubtown Limited Income-tax…

M/S. BLUEDIAMOND TRACOM PVT. LTD.,KOLKATA vs. I.T.O., WARD - 3(1), , KOLKATA

In the result, appeal of the assessee is allowed

ITA 1752/KOL/2025[2014-2015]Status: DisposedITAT Kolkata21 Nov 2025AY 2014-2015

Bench: SHRI DUVVURU RL REDDY (Vice President)

For Appellant: Shri Robin Maheshwari, ACAFor Respondent: None
Section 14A

…आयकर अपील"य अ"धकरण, ‘एसएमसी’ "यायपीठ,कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL ‘SMC’ BENCH, KOLKATA BEFORE SHRI DUVVURU RL REDDY, VICE PRESIDENT आयकर अपील सं/ITA No.1752/KOL/2025 ("नधा"रण वष" / Assessment Year : 2014-2015) M/s Bluediamond Tracom Pvt Ltd Vs ITO Ward-3(1), Kolkata 13A, Dacres Lane, 5th Floor, Room No.501, Kolkata PAN No. :AADCB 5095 Q (अपीलाथ" /Appellant) .. (""यथ" / Respondent) "नधा"रती क" ओर से /Assessee by : Shri Robin Maheshwari, ACA राज"व क" ओर से /Revenue by : None सुनवाई क" तार"ख / Date of Hearing : 07/10/2025 घोषणा क" तार"ख/Date of Pronouncement : 21/11/2025 आदेश / O R D E R The present…

MAHARASHTRA STATE ROAD DEVELOPMENT CORPORATION LTD,MUMBAI vs. DCIT 5(2), MUMBAI

ITA 696/MUM/2012[2008-09]Status: DisposedITAT Mumbai06 Oct 2025AY 2008-09

Bench: Shri Narender Kumar Choudhry (Jm) & Shri Omkareshwar Chidara (Am) Maharashtra State Road Dcit-5(2) Development Corporation Ltd. Aayakar Bhavan M.S.R.D.C. Ltd. Vs. M. K. Road Priyadarshini Park Nepenasea Mumbai-400 020. Road, Mumbai-400 036. Pan : Appellant Respondent

For Appellant: Shri Leyaqat Ali AafaquiFor Respondent: Shri Dalpat Shah
Section 14ASection 37Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “B” Bench, Mumbai. Before Shri Narender Kumar Choudhry (JM) & Shri Omkareshwar Chidara (AM) Maharashtra State Road DCIT-5(2) Development Corporation Ltd. Aayakar Bhavan M.S.R.D.C. Ltd. Vs. M. K. Road Priyadarshini Park Nepenasea Mumbai-400 020. Road, Mumbai-400 036. PAN : Appellant Respondent : Shri Dalpat Shah Assessee by : Shri Leyaqat Ali Aafaqui Revenue by : 10/07/2025 Date of Hearing Date of pronouncement : 08/10/2025 O R D E R Per Omkareshwar Chidara (AM) :- In the above cited appeal, the appellant company raised two grounds, the first being ‘prior period ex…

SAHAJANAND TECHNOLOGIES PRIVATE LIMTED,SURAT vs. THE ACIT, CENTRAL CIRCLE-4, SURAT., SURAT

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

ITA 255/SRT/2025[2018-19]Status: DisposedITAT Surat23 Sept 2025AY 2018-19

Bench: Shri Sanjay Garg & Shri Bijayananda Prusethआयकर अपील सं./Ita No.255/Srt/2025 Assessment Year: 2018-19 (Hybrid Hearing) Sahajanand Technologies Pvt. Assistant Commissioner Of बनाम/ Ltd. Income-Tax, Central Circle-4, Vs. Building A1, Sahajanand Surat, Aaykar Bhawan, Majura Estate Vakharia Wadi, Nr. Gate, Surat-395 001 Dabholi Char Rasta, Surat- 395 004 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aadcs 4343 N (अपीलाथ"/Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Appellant By Shri Rajesh C. Shah, Ca राज" की ओर से /Respondent By Shri Aashish Pophare, Cit-Dr सुनवाई की तारीख/Date Of Hearing 11/08/2025 उद्घोषणा की तारीख/Date Of Pronouncement 23/09/2025

Section 143(3)Section 14ASection 250Section 35Section 35(1)(i)

…IN THE INCOME-TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & SHRI BIJAYANANDA PRUSETH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.255/SRT/2025 Assessment Year: 2018-19 (Hybrid hearing) Sahajanand Technologies Pvt. Assistant Commissioner of बनाम/ Ltd. Income-tax, Central Circle-4, Vs. Building A1, Sahajanand Surat, Aaykar Bhawan, Majura Estate Vakharia Wadi, Nr. Gate, Surat-395 001 Dabholi Char Rasta, Surat- 395 004 "थायीलेखासं./जीआइआरसं./PAN/GIR No: AADCS 4343 N (अपीलाथ"/Appellant) (""थ" /Respondent) िनधा"रती की ओर से /Appellant by Shri Rajesh C. Shah, CA राज" की ओर से /Responde…

ASSISTANT COMMISSIONER OF INCOME TAX , 5(1)(1), NOIDA, NOIDA vs. EBIXCASH LIMITED, NOIDA

In the result, the appeal filed by the Revenue is dismissed and by assessee is allowed

ITA 4738/DEL/2024[2018-19]Status: DisposedITAT Delhi10 Sept 2025AY 2018-19

Bench: Shri Anubhav Sharma & Shri Manish Agarwalassessment Year-2018-19) M/S Ebix Cash Ltd., Asst. Cit, Plot No.122 & 123, Nsez, Phase- Circle-5(1)(1), Ii, Noida, Vs. Gautambudh Nagar, Gautambudh Nagar-201305 Noida, Uttarparadesh. Uttar Pradesh, India. Pan-Aaace9981H (Appellant) (Respondent) Asst. Cit, M/S Ebix Cash Ltd., Circle-5(1)(1), Plot No.122 & 123, Nsez, Gautambudh Nagar, Vs. Phase-Ii, Noida, Noida, Uttar Paradesh. Gautambudh Nagar-201305 Uttar Pradesh, India. Pan-Aaace9981H (Appellant) (Respondent) Assessee By Shri Lalit Mohan, Ca & Shri Ankit Kumar, Adv. Department By Shrirajesh Kumar Dhanesta,Sr.Dr Date Of Hearing 14/08/2025 Date Of Pronouncement 10/09/2025 Order Per Anubhav Sharma, Jm:

Section 10ASection 115JSection 143(3)Section 144BSection 14ASection 14A(1)Section 250

…xempt income, no disallowance can be made. Reliance can be placed on the judgment of Hon’ble Delhi High Court in the case of Cheminvest Ltd. vs. CIT, 378 ITR 33 and the decision of Hon’ble Supreme Court in the case of PCIT vs. Oil Industries Development Board 103 Taxmann.com 326 (SC). 5.1 Furthermore, Ld. AR has established and demonstrated that share capital andreserves exceeds investment made, so that also does not justified disallowance. In this context, at page 31 of the PB, assessee has provided the FBIX Cash Ltd. vs. ACIT details of investment and at page 4 of PB, there is a financial statement showing wit…

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PCIT v. Oil Industry Development Board (103 Taxmann.com 326) — Cited in 120 Judgments | BharatTax