PCIT v. Sintex Industries Ltd.

82 Taxmann.com 428High Court2017#7586 most cited

What is PCIT v. Sintex Industries Ltd. authority for?

Disallowance of expenditure under section 14A is not permissible if the assessee has sufficient interest-free own funds exceeding the investment yielding exempt income, and no exempt income is earned in the relevant assessment year.

15

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2021 to 2026.

Also referred to as

PCIT v. Sintex Industries Ltd. · section 14A · section 8D · exempt income · disallowance of expenditure · interest free own funds · average investment · Gujarat High Court

Sections most often in play

Section 1961Section 2005Section 14ASection 143(3)Section 37(1)Section 10ASection 10A of the Income Tax ActSection 10A(7B)

Issues it is cited on

disallowance under section 14asection 14adisallowance u/s 14asection 254section 37section 37(1)commissioner (appeals)long term capital gainsection 10section 12salaryprevious year

Judgments citing PCIT v. Sintex Industries Ltd.

M/S. Sahajanand Laser Technology Ltd., Gandhinagar vs. The DCIT, Circle-4(1)(1), Ahmedabad

In the result, the appeal of the assessee for A

ITA 16/AHD/2020[2013-14]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2013-14

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14)

For Appellant: Ms. Arti N Shah, ARFor Respondent: Shri Praveen Verma, CIT. DR
Section 10ASection 143(3)Section 14ASection 35

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER & SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14) M/s. Sahajanand Laser बनाम/ Income Tax Officer Technology Ltd. Ward-4(1)(1), Vs. E-30, GIDC Electronics Ahmedabad Estate, Sector-26, Gandhinagar, Gujarat - 382028 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAGCS1983B (Appellant) .. (Respondent) अपीलाथ" ओर से /Appellant by : Ms. Arti N Shah, AR ""यथ" क" ओर से/Respondent by : Shri Praveen Verma, CIT. DR 25/11/2025 Date of…

M/S. Sahajanand Laser Technology Ltd., Gandhinagar vs. The ITO, Ward-4(1)(1), Ahmedabad

In the result, the appeal of the assessee for A

ITA 15/AHD/2020[2012-13]Status: DisposedITAT Ahmedabad01 Jan 2026AY 2012-13

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14)

For Appellant: Ms. Arti N Shah, ARFor Respondent: Shri Praveen Verma, CIT. DR
Section 10ASection 143(3)Section 14ASection 35

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER & SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. Nos. 15 & 16/Ahd/2020 (िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14) M/s. Sahajanand Laser बनाम/ Income Tax Officer Technology Ltd. Ward-4(1)(1), Vs. E-30, GIDC Electronics Ahmedabad Estate, Sector-26, Gandhinagar, Gujarat - 382028 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAGCS1983B (Appellant) .. (Respondent) अपीलाथ" ओर से /Appellant by : Ms. Arti N Shah, AR ""यथ" क" ओर से/Respondent by : Shri Praveen Verma, CIT. DR 25/11/2025 Date of…

M/S. Bodal Chemicals Ltd., Ahmedabad vs. The Dy.CIT, Circle-1, Ahmedabad

In the result, the appeals being IT(SS)A No

ITA 318/AHD/2022[2009-10]Status: DisposedITAT Ahmedabad31 Jul 2025AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Narendra Prasad Sinha

For Appellant: Shri S.S. Nagar, ARFor Respondent: Shri Kamlesh Makwana, CIT-DR and Shri B.P. Srivastava, Sr.DR
Section 115JSection 132(1)Section 139(1)Section 139(5)Section 142(1)Section 143(2)Section 143(3)Section 153ASection 153A(1)(a)Section 153A(1)(b)

…आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। अहमदाबाद। आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD ] ] BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER IT(SS)A No.27 TO 30/Ahd/2021 Assessment Year : 2006-07 TO 2009-10 IT(SS)A No.14/Ahd/2022 Asstt.Year : 2010-11 The Dy.CIT M/s.Bodal Chemicals Ltd. Cent.Cir.1(1) Vs Plot No.123-124 Ahmedabad. Phase-1, GIDC Vatva, Ahmedabad. PAN : AAACD 5352 M Asstt.Year : 2009-10 IT(SS)A No.…

Bright Paints Pvt Ltd, Mumbai vs. Dy Commissioner of Income Tax - 12(1)(2), Mumbai

In the result, the ground no

ITA 6817/MUM/2024[2014-15]Status: DisposedITAT Mumbai27 Jun 2025AY 2014-15

Bench: MS. KAVITHA RAJAGOPAL (Judicial Member), SHRI OMKARESHWAR CHIDARA (Accountant Member)

For Appellant: Shri. Nitesh JoshiFor Respondent: Shri. Leyaqat Ali, SR. DR
Section 143(1)Section 143(2)Section 143(3)(ii)Section 14ASection 250Section 73

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL, JM AND SHRI OMKARESHWAR CHIDARA, AM Bright Paints Pvt. Ltd. Dy. Commissioner of Income Tax 11, Happy Home, 244, Waterfield – 12(1)(2) Road, Bandra – 400050. Pratishtha Bhavan, Church Gate, Vs. Maharshi Karve Road, Mumbai – 400020. PAN/GIR No. AAACB1696E (Appellant) : (Respondent) Assessee by : Shri. Nitesh Joshi Respondent by : Shri. Leyaqat Ali, SR. DR. Date of Hearing : 20.06.2025 Date of Pronouncement : 27.06.2025 O R D E R Per Kavitha Rajagopal, J M: This appeal has been filed by the assessee, challenging the order of the l…

ACIT-Central Circle -2(1), Nagpur vs. Shri Nandkumar Khattumal Harchandani, Nagpur

In the result, appeal of the Revenue stands dismissed

ITA 411/NAG/2019[2015-16]Status: DisposedITAT Nagpur25 Feb 2025AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. MoryaniFor Respondent: Shri Sandipkumar Salunke
Section 10(38)Section 68

…ttal. 8.3 The AR has also argued that the assessee has own funds more than the average investment yielding exempt income, and when the same is considered, the position of law is settled by decision of Hon. High Court Gujarat in PCIT Vs. Sintex Industries Ltd. 82 Taxmann.com 428, which is confirmed by Hon. SC. The Hon. High Court is Sintex Industries Ltd. (supra), has held that, where assessee is having interest free own surplus funds which is more than average investment, there was no question making any disallowances of expenditure in respect of interest and administrative expenses under section 14A, and hence,…

Assistant Commissioner of Income Tax, Central Circle -2, Surat vs. M/S Aalidhar Textool Engineers Pvt. Ltd., Surat

In the result, the grounds of appeal raised by Revenue are partly allowed

ITA 226/SRT/2023[2017-18]Status: DisposedITAT Surat20 Nov 2023AY 2017-18

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133(6)Section 14ASection 254(1)Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 226/SRT/2023 & 288/SRT/2022 (AYs: 2017-18 & 2018-19) (Physical hearing) The ACIT, Vs M/s. Aalidhara Textool Engineers Central Circle-2, Pvt. Ltd., Surat. Plot No.168, Udhyog Nagar Road, Udhna, Surat - 394210 PAN : AAACD8469M APPELLANT RESPONDEDNT Appellant by Shri Ashish Pophare, CIT-DR with Shri Vinod Kumar, Sr. DR Respondent by Shri Rasesh Shah, CA Date of hearing 17/10/2023 Date of pronouncement 20/11/2023 Order under Section 254(1) of Income tax Act PER PAWA…

Asst. Commissioner of Income Tax, CC-2, Surat vs. Aalidhaara Textool Engineers Pvt. Ltd, Surat

In the result, the grounds of appeal raised by Revenue are partly allowed

ITA 288/SRT/2022[2018-19]Status: DisposedITAT Surat20 Nov 2023AY 2018-19

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

Section 133(6)Section 14ASection 254(1)Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA Nos. 226/SRT/2023 & 288/SRT/2022 (AYs: 2017-18 & 2018-19) (Physical hearing) The ACIT, Vs M/s. Aalidhara Textool Engineers Central Circle-2, Pvt. Ltd., Surat. Plot No.168, Udhyog Nagar Road, Udhna, Surat - 394210 PAN : AAACD8469M APPELLANT RESPONDEDNT Appellant by Shri Ashish Pophare, CIT-DR with Shri Vinod Kumar, Sr. DR Respondent by Shri Rasesh Shah, CA Date of hearing 17/10/2023 Date of pronouncement 20/11/2023 Order under Section 254(1) of Income tax Act PER PAWA…

Smt. Nirmalaben V. Patel, Jamnagar vs. The ACIT, Circle-1, Jamnagar

In the result, the appeal of the assessee is allowed

ITA 256/RJT/2019[2016-17]Status: DisposedITAT Rajkot10 Nov 2023AY 2016-17

Bench: Ms. Annapurna Gupta (Accountant Member), Shri Siddhartha Nautiyal (Judicial Member)

For Appellant: Shri Mehul Ranpura, A.RFor Respondent: Shri K.L. Solanki, Sr. D.R
Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT [CONDUCTED THROUGH VIRTUAL COURT] Before: Ms. Annapurna Gupta, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member Assessment Year 2016-17 Smt. Nirmalaben V. Patel, The ACIT, “Satya”, Pandit Nehru Circle-1, Marg; Solitaire; Indira Vs Jamnagar Gandhi Marg;, Jamnagar (Respondent) PAN: AELPP2575G (Appellant) Assessee by: Shri Mehul Ranpura, A.R. Revenue by: Shri K.L. Solanki, Sr. D.R. Date of hearing : 31-10-2023 Date of pronouncement : 10-11-2023 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This assessee’s appeal for A.Y…

Deep Industries Ltd., Ahmedabad vs. Dy. Commissioner of Income Tax, (OSD), Ahmedabad

In the result the assessee’s appeal is partly allowed

ITA 788/AHD/2015[2009-10]Status: DisposedITAT Ahmedabad27 Jul 2022AY 2009-10
For Appellant: Shri Ketan Shah, A.R. &For Respondent: Shri Purshottam Kumar, Sr. D.R
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH Before: Shri P.M. Jagtap, Vice President And Shri Siddhartha Nautiyal, Judicial Member Assessment Year 2009-10 Deep Industries Ltd., Dy. CIT(OSD), C/o. Ketan H. Shah, Range-1, Advocate 903, Sapphire Vs Ahmedabad-9 Complex, (Respondent) C.G. Road, Navrangpura, Ahmedabad-9 PAN: AAACD6915E (Appellant) Assessee by: Shri Ketan Shah, A.R. & Shri Aman Shah, A.R. Revenue by: Shri Purshottam Kumar, Sr. D.R. Date of hearing : 09-05-2022 Date of pronouncement : 27-07-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the…

M/S P.M. Diesels Pvt. Ltd., Rajkot-Gujarat vs. The Asstt. Commr. Income Tax, Circle-2(1), Rajkot-Gujarat

In the result, appeal of the assessee is allowed

ITA 66/RJT/2020[2014-15]Status: HeardITAT Rajkot26 Jul 2022AY 2014-15
For Appellant: Shri Deepak Rindani, A.RFor Respondent: Shri B.D. Gupta, Sr. D.R
Section 250Section 36(1)(iii)Section 40A

…IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT Before: Shri Waseem Ahmed, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member ITA No. 66 /Rjt/2020 Assessment Year 2014-15 M/s. P.M. Diesels Pvt. The ACIT, Ltd., Rajkot Circle-2(1), PAN: AABCN5691G Vs Rajkot (Appellant) (Respondent) Assessee by: Shri Deepak Rindani, A.R. Revenue by: Shri B.D. Gupta, Sr. D.R. Date of hearing : 29-06-2022 Date of pronouncement : 27-07-2022 आदेश/ORDER PER BENCH:- This assessee’s appeal for A.Y. 2014-15, arises from the order of the CIT(A), Rajkot-2 dated 17-01-2020, in proceedings under section 25…

M/S. Nirma Credit & Capital P. Ltd., Ahmedabad vs. The ITO, Ward-3(1)(1), Ahmedabad

In the result the assessee’s appeal is partly allowed

ITA 1420/AHD/2019[2009-10]Status: DisposedITAT Ahmedabad15 Jul 2022AY 2009-10

Bench: Itat, Ahmedabad Regarding Disallowances Made Under Section 14A Of The Act. The Itat Vide Order Dated 15-03-2003 Allowed Substantial Relief To The Assessee & Restored The Matter Back To The File Of The Assessing Officer With The Following Observations:

For Appellant: Shri Bandish Soparkar, A.RFor Respondent: Shri S.S. Shukla, Sr. D.R
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH Before: Ms. Annapurna Gupta, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member Assessment Year 2009-10 Nirma Credit & Capital ITO, Pvt. Ltd. Nirma House, Ward-3(1)(1), Ashram Road, Ahmedabad Vs Ahmedabad PAN: AAACN5351J (Respondent) (Appellant) Assessee by: Shri Bandish Soparkar, A.R. Revenue by: Shri S.S. Shukla, Sr. D.R. Date of hearing : 20-04-2022 Date of pronouncement : 15-07-2022 आदेश/ORDER PER : SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER:- This is an appeal filed by the assessee against the order of the ld. Commissioner of Income T…

Sahajanand Laser Technology Ltd., Gandhinagar vs. The ITO, Ward-4(1)(1), Ahmedabad

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

ITA 1431/AHD/2017[2009-10]Status: DisposedITAT Ahmedabad11 May 2022AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Ms. Arti Shah, A.RFor Respondent: Shri Purushottam Kumar, Sr. D.R
Section 10ASection 14ASection 271(1)(c)Section 36(1)(iii)Section 36(2)Section 40A(2)(b)

…ITA Nos.496/Ahd/2014 & 1431/Ahd/2017 Assessment Year: 2009-10 Page 1 of 12 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER (Conducted through Virtual Court) Assessment Year: 2009-10 Dy. Commissioner of Income Tax, vs. Sahajanand Laser Technology Circle-8, Ahmedabad. Limited, E-30, GIDC Electronic Estate, Sector-28, Gandhinagar – 382 028 [PAN – AAGCS 1983 B] Assessment Year: 2009-10 Sahajanand Laser Technology Ltd., vs. The Income Tax Officer, E-30, GIDC Electronic Estate, Ward – 4(1)(1), Ahmedabad…

The Dy. CIT, Circle-8, Ahmedabad vs. Sahajanand Laser Technology Limited, Gandhinagar

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

ITA 496/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad11 May 2022AY 2009-10

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

For Appellant: Ms. Arti Shah, A.RFor Respondent: Shri Purushottam Kumar, Sr. D.R
Section 10ASection 14ASection 271(1)(c)Section 36(1)(iii)Section 36(2)Section 40A(2)(b)

…ITA Nos.496/Ahd/2014 & 1431/Ahd/2017 Assessment Year: 2009-10 Page 1 of 12 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI BHAGIRATH MAL BIYANI, ACCOUNTANT MEMBER (Conducted through Virtual Court) Assessment Year: 2009-10 Dy. Commissioner of Income Tax, vs. Sahajanand Laser Technology Circle-8, Ahmedabad. Limited, E-30, GIDC Electronic Estate, Sector-28, Gandhinagar – 382 028 [PAN – AAGCS 1983 B] Assessment Year: 2009-10 Sahajanand Laser Technology Ltd., vs. The Income Tax Officer, E-30, GIDC Electronic Estate, Ward – 4(1)(1), Ahmedabad…

Aalidhara Textool Engineers Pvt. Ltd, Surat vs. PCIT-1, Surat

In the result, the appeal of the assessee is allowed

ITA 94/SRT/2020[2014-15]Status: DisposedITAT Surat28 May 2021AY 2014-15

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.94/Srt/2020 ("नधा"रणवष" / Assessment Years: (2014-15) (Virtual Court Hearing) Alidhara Textool Engineers Pvt. Ltd., Vs. The Pcit-1, Surat. Plot No.168, Udhyog Nagar Road, Udhna, Surat -394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaacd8469M (Assessee) (Respondent)

For Appellant: Shri Mehul Shah, CAFor Respondent: Shri Ritesh Mishra, CIT(DR)
Section 10Section 10(38)Section 115JSection 143(3)Section 14ASection 263

…appeal of the assessee". Since the facts continue to be same, the order of ITAT for earlier year applicable to instant assessment year. 7.3 The AR further, brought on record decisions of Hon'ble High Court of Gujarat in case of PCIT Vs. Sintex Industries Ltd 82 Taxmann.com 428, wherein it was held that, where assesse is having interest free own surplus funds which is more than average investment there was no question of making disallowances of expenditure in respect of interest and administrative expenses under section 14A, therefore, there was no question of estimation of expenditure in respect of interest & ad…

M/S. Srf Limited, Gurgaon vs. DCIT, New Delhi

In the result appeal of the appellant assessee is partly allowed for statistical purposes

ITA 2064/DEL/2014[2007-08]Status: DisposedITAT Delhi06 Apr 2021AY 2007-08

Bench: Shri Amit Shukla & Shri O.P. Kantassessment Year: 2007-08

For Appellant: S/Shri Pradeep Dinodia &For Respondent: Shri Surender Pal, CIT DR
Section 143(3)Section 14ASection 14A(1)Section 37Section 9C

…- INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I-1” NEW DELHI” BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI O.P. KANT, ACCOUNTANT MEMBER Assessment Year: 2007-08 SRF Limited, DCIT, Block-C, Unitech Crest, Circle 9(1), Vs. Greenwood City, Sector-45, New Delhi. Gurgaon – 122 003 PAN AAACS0206P (Appellant) (Respondent) Assessee by: S/Shri Pradeep Dinodia & R.K. Kapoor, CA Department by : Shri Surender Pal, CIT DR Date of Hearing 20/01/2021 Date of 06/04/2021 pronouncement O R D E R PER AMIT SHUKLA, J.M. The aforesaid appeal has been filed by the assessee against order dated 23.01.2014 passed by Ld. Commissio…

PCIT v. Sintex Industries Ltd. (82 Taxmann.com 428) — Cited in 15 Judgments | BharatTax