PCIT v. State Bank of Patiala

99 Taxmann.com 286Supreme Court of India2018#571 most cited

What is PCIT v. State Bank of Patiala authority for?

Disallowance under Section 14A of the Income-tax Act is made only if exempt income is actually earned, and the disallowance cannot exceed the amount of exempt income earned.

170

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2019 to 2026.

Also referred to as

PCIT v. State Bank of Patiala · Section 14A · disallowance under Section 14A · exempt income · no exempt income · expenditure relating to exempt income · limit of disallowance · Supreme Court · 99 Taxmann.com 286 · 259 Taxmann 314

Also reported as

259 Taxmann 314

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 37(1)Section 153ASection 8DSection 139(1)Section 143(2)

Issues it is cited on

section 92b(1)section 92(1)legal expensessection 115jb(2)disallowance under section 14aretrospective amendmentdisallowance of interest expendituredisallowance u/s 14acorporate guaranteesection 80ia(4)section 139(5)section 92b

Judgments citing PCIT v. State Bank of Patiala

Essel Mining & Industries Ltd., Kolkatta vs. Dy CIT CC-1(4), Mumbai

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

ITA 297/MUM/2021[2012-13]Status: DisposedITAT Mumbai27 Apr 2023AY 2012-13

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 To 2013-14) Essel Mining & Vs. Dy. Cit, Cc-1(4) Industries Limited 9Th Floor, Old Cgo Industry House, 18Th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent Jcit, Cc-1(4) Vs. M/S Essel Mining & R. No. 902, Pratistha Industries Limited Bhavan, 9Th Floor, Old Industry House, 18Th Cgo Building, Annexe, Floor, 10, Cama Street, Mumbai – 400 020 Kolkata- 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent

For Appellant: Yohesh Thar &For Respondent: Biswanath Das
Section 132(1)Section 14ASection 153ASection 153C

…P a g e | 1 ITA No.1022 & 1549/Mum/2018 296 & 297/Mum/2021 Essel Mining & industries Ltd. Vs. DCIT, CC-1(4) IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 to 2013-14) Essel Mining & Vs. Dy. CIT, CC-1(4) Industries Limited 9th Floor, Old CGO Industry House, 18th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACE6607L Appellant .. Respondent JCIT, CC-1(4) Vs. M/s Essel Mining & R. No. 902, Pratistha Industries…

Essel Mining & Industries Ltd., Kolkatta vs. Dy CIT CC-1(4), Mumbai

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

ITA 296/MUM/2021[2011-12]Status: DisposedITAT Mumbai27 Apr 2023AY 2011-12

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 To 2013-14) Essel Mining & Vs. Dy. Cit, Cc-1(4) Industries Limited 9Th Floor, Old Cgo Industry House, 18Th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent Jcit, Cc-1(4) Vs. M/S Essel Mining & R. No. 902, Pratistha Industries Limited Bhavan, 9Th Floor, Old Industry House, 18Th Cgo Building, Annexe, Floor, 10, Cama Street, Mumbai – 400 020 Kolkata- 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent

For Appellant: Yohesh Thar &For Respondent: Biswanath Das
Section 132(1)Section 14ASection 153ASection 153C

…P a g e | 1 ITA No.1022 & 1549/Mum/2018 296 & 297/Mum/2021 Essel Mining & industries Ltd. Vs. DCIT, CC-1(4) IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 to 2013-14) Essel Mining & Vs. Dy. CIT, CC-1(4) Industries Limited 9th Floor, Old CGO Industry House, 18th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACE6607L Appellant .. Respondent JCIT, CC-1(4) Vs. M/s Essel Mining & R. No. 902, Pratistha Industries…

Joint Commissioner of Income Tax - Central Circle 1(4), Mumbai vs. Essel Mining & Industries Limited, Mumbai

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

ITA 1549/MUM/2018[2013-14]Status: DisposedITAT Mumbai27 Apr 2023AY 2013-14

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 To 2013-14) Essel Mining & Vs. Dy. Cit, Cc-1(4) Industries Limited 9Th Floor, Old Cgo Industry House, 18Th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent Jcit, Cc-1(4) Vs. M/S Essel Mining & R. No. 902, Pratistha Industries Limited Bhavan, 9Th Floor, Old Industry House, 18Th Cgo Building, Annexe, Floor, 10, Cama Street, Mumbai – 400 020 Kolkata- 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent

For Appellant: Yohesh Thar &For Respondent: Biswanath Das
Section 132(1)Section 14ASection 153ASection 153C

…P a g e | 1 ITA No.1022 & 1549/Mum/2018 296 & 297/Mum/2021 Essel Mining & industries Ltd. Vs. DCIT, CC-1(4) IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 to 2013-14) Essel Mining & Vs. Dy. CIT, CC-1(4) Industries Limited 9th Floor, Old CGO Industry House, 18th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACE6607L Appellant .. Respondent JCIT, CC-1(4) Vs. M/s Essel Mining & R. No. 902, Pratistha Industries…

Essel Mining & Industries Limited, Mumbai vs. Deputy Commissioner of Income Tax - Central Circle 1(4), Mumbai

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

ITA 1022/MUM/2018[2013-14]Status: DisposedITAT Mumbai27 Apr 2023AY 2013-14

Bench: Shri Amit Shukla & Shri Amarjit Singhita Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 To 2013-14) Essel Mining & Vs. Dy. Cit, Cc-1(4) Industries Limited 9Th Floor, Old Cgo Industry House, 18Th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent Jcit, Cc-1(4) Vs. M/S Essel Mining & R. No. 902, Pratistha Industries Limited Bhavan, 9Th Floor, Old Industry House, 18Th Cgo Building, Annexe, Floor, 10, Cama Street, Mumbai – 400 020 Kolkata- 700017 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaace6607L Appellant .. Respondent

For Appellant: Yohesh Thar &For Respondent: Biswanath Das
Section 132(1)Section 14ASection 153ASection 153C

…P a g e | 1 ITA No.1022 & 1549/Mum/2018 296 & 297/Mum/2021 Essel Mining & industries Ltd. Vs. DCIT, CC-1(4) IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA Nos. 296 & 297/Mum/2021 (A.Ys.2011-12 to 2013-14) Essel Mining & Vs. Dy. CIT, CC-1(4) Industries Limited 9th Floor, Old CGO Industry House, 18th Building, M.K. Road, Floor, 10 Camac Street, Mumbai - 400020 Kolkata – 700017 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACE6607L Appellant .. Respondent JCIT, CC-1(4) Vs. M/s Essel Mining & R. No. 902, Pratistha Industries…

DCIT Central-Circle-2(4), Mumbai vs. Keystone Realtors Private Limited, Mumbai

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

ITA 1946/MUM/2022[2007-08]Status: DisposedITAT Mumbai27 Mar 2023AY 2007-08

Bench: Shri Aby T Varkey () & Shri Amarjit Singh ()

Section 132(1)Section 143(2)Section 153A

…nt of R.20,19,580/- only. Under the circumstances, the assessee itself had only made disallowance of Rs.2,501/- and it had earned exempt income of R.20,19,580/-, after following the decision of Hon’ble Supreme Court in the case of State Bank of Patiala (2018) 99 Taxmann 286 (SC) and the decision of the Hon’ble Delhi High Court in the case of CIT vs Joint Investments Pvt Ltd (2015) 372 ITR 69 (Del). It is settled that the disallowance is to be restricted to the extent of exempt income earned by the assessee. Following the decision of the Hon’ble Apex Court and High Court (supra), we direct the Assessing Officer to…

Keystone Realtors Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Central Circle 2(4), Mumbai

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

ITA 3003/MUM/2019[2012-13]Status: DisposedITAT Mumbai27 Mar 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Amarjit Singh ()

Section 132(1)Section 143(2)Section 153A

…nt of R.20,19,580/- only. Under the circumstances, the assessee itself had only made disallowance of Rs.2,501/- and it had earned exempt income of R.20,19,580/-, after following the decision of Hon’ble Supreme Court in the case of State Bank of Patiala (2018) 99 Taxmann 286 (SC) and the decision of the Hon’ble Delhi High Court in the case of CIT vs Joint Investments Pvt Ltd (2015) 372 ITR 69 (Del). It is settled that the disallowance is to be restricted to the extent of exempt income earned by the assessee. Following the decision of the Hon’ble Apex Court and High Court (supra), we direct the Assessing Officer to…

Jt.Commissioner of Income Tax (OSD) - Central Circle 2(4), Mumbai vs. M/S Keystone Realtors Private Limited, Mumbai

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

ITA 2822/MUM/2019[2012-13]Status: DisposedITAT Mumbai27 Mar 2023AY 2012-13

Bench: Shri Aby T Varkey () & Shri Amarjit Singh ()

Section 132(1)Section 143(2)Section 153A

…nt of R.20,19,580/- only. Under the circumstances, the assessee itself had only made disallowance of Rs.2,501/- and it had earned exempt income of R.20,19,580/-, after following the decision of Hon’ble Supreme Court in the case of State Bank of Patiala (2018) 99 Taxmann 286 (SC) and the decision of the Hon’ble Delhi High Court in the case of CIT vs Joint Investments Pvt Ltd (2015) 372 ITR 69 (Del). It is settled that the disallowance is to be restricted to the extent of exempt income earned by the assessee. Following the decision of the Hon’ble Apex Court and High Court (supra), we direct the Assessing Officer to…

DCIT Cen Cir 10, Mumbai vs. Keystone Realtors P.Ltd, Mumbai

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

ITA 5631/MUM/2014[2010-11]Status: DisposedITAT Mumbai27 Mar 2023AY 2010-11

Bench: Shri Aby T Varkey () & Shri Amarjit Singh ()

Section 132(1)Section 143(2)Section 153A

…nt of R.20,19,580/- only. Under the circumstances, the assessee itself had only made disallowance of Rs.2,501/- and it had earned exempt income of R.20,19,580/-, after following the decision of Hon’ble Supreme Court in the case of State Bank of Patiala (2018) 99 Taxmann 286 (SC) and the decision of the Hon’ble Delhi High Court in the case of CIT vs Joint Investments Pvt Ltd (2015) 372 ITR 69 (Del). It is settled that the disallowance is to be restricted to the extent of exempt income earned by the assessee. Following the decision of the Hon’ble Apex Court and High Court (supra), we direct the Assessing Officer to…

Jindal Drugs Pvt Ltd, Mumbai vs. Circle, 3(2)(1), Mumbai

In the result, the present appeal is partly allowed

ITA 2086/MUM/2022[2017-18]Status: DisposedITAT Mumbai08 Feb 2023AY 2017-18
For Appellant: Sh. Vijay MehtaFor Respondent: Ms. Samruddhi Dhananjay Hande
Section 115JSection 143(3)Section 144CSection 144C(13)Section 144C(5)Section 14ASection 234DSection 40A(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Jindal Drugs Pvt. Ltd., 12A, 12th Floor, Bakhtawar, 229, Nariman Point, Mumbai - 400021 ……………… Appellant [PAN: AAACJ1000A] Vs The Assistant Commissioner of Income Tax, Circle, 3(2)(1), Mumbai Aaykar Bhavan, Chuchgate, ……………. Respondent Mumbai - 400020 Appearances For the Appellant/Assessee : Sh. Vijay Mehta Sh. Anuj Kisnadwala For the Respondent/Department : Ms. Samruddhi Dhananjay Hande Date of conclusion of hearing : 15.11.2022 Date of pronouncement of order : 08.02.2023 O R D E R P…

Assistant Commissioner of Income Tax, Circle - 1(1)(1), Surat vs. Enviro Control Pvt. Ltd., Surat

In the result, the appeal is partly allowed

ITA 307/SRT/2022[2017-18]Status: DisposedITAT Surat18 Jan 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.274 & 307/Srt/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner Of Enviro Control Pvt. Ltd., Income-Tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank Of Surat, Room No.108, 1St Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 8700 C (Assessee) (Respondent)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA No.274 & 307/SRT/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner of Enviro Control Pvt. Ltd., Income-tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank of Surat, Room No.108, 1st Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 8700 C (Assessee) (Respondent) "नधा"रती क" ओर से /Assessee by Shri Ankur A Shah, AR राज"व क" ओर से /Revenue by Shri Vinod Kumar, Sr. DR…

Assistant Commissioner of Income Tax, Circle -1(1)(1), Surat vs. Enviro Control Pvt. Ltd., Surat

In the result, the appeal is partly allowed

ITA 274/SRT/2022[2013-14]Status: DisposedITAT Surat18 Jan 2023AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.274 & 307/Srt/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner Of Enviro Control Pvt. Ltd., Income-Tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank Of Surat, Room No.108, 1St Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aaace 8700 C (Assessee) (Respondent)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JM & DR. A. L. SAINI, AM आयकर अपील सं./ITA No.274 & 307/SRT/2022 ("नधा"रण वष" /Assessment Years: (2013-14 & 2017-18) (Virtual Court Hearing) Assistant Commissioner of Enviro Control Pvt. Ltd., Income-tax, Circle-1(1)(1), Vs. Enviro House, Opp. Bank of Surat, Room No.108, 1st Floor, Maharshtra, Ghod Dod Road, Surat- Aayakar Bhawan, Majura 395007 Gate, Surat "थायीलेखासं./जीआइआरसं./PAN/GIR No.: AAACE 8700 C (Assessee) (Respondent) "नधा"रती क" ओर से /Assessee by Shri Ankur A Shah, AR राज"व क" ओर से /Revenue by Shri Vinod Kumar, Sr. DR…

Dhoot Trading & Agencies Limited, Mumbai vs. DCIT 3 (3) (1), Mumbai

In the result, the appeal preferred by the Revenue [ITA No

ITA 5872/MUM/2019[2013-14]Status: DisposedITAT Mumbai17 Jan 2023AY 2013-14
For Appellant: NoneFor Respondent: Shri Sanjay Vishwas Rao Deshmukh
Section 115JSection 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL "G" BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER DCIT Circle 3(3)(1), Mumbai, Room No. 609, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai - 400020 ……………… Appellant M/s Shree Dhoot Trading & Agencies Ltd., 171-C, 17th Floor, Mittal Court, C Wing, Vs Nariman Point, Mumbai – 400021 [PAN: AACCS1621C] ……………. Respondent M/s Shree Dhoot Trading & Agencies Ltd., 171-C, 17th Floor, Mittal Court, C Wing, Nariman Point, Mumbai – 400021 [PAN: AACCS1621C] ……………… Appellant DCIT Circle 3(3)(1), Mumbai, Room No. 609, 6th Floor, Vs Aayakar Bhavan,…

Deputy Commissioner of Income Tax Circle 3(3)(1), Mumbai vs. M/S. Shree Dhoot Trading & Agencies Ltd, Mumbai

In the result, the appeal preferred by the Revenue [ITA No

ITA 5585/MUM/2019[2013-14]Status: DisposedITAT Mumbai17 Jan 2023AY 2013-14
For Appellant: NoneFor Respondent: Shri Sanjay Vishwas Rao Deshmukh
Section 115JSection 143(3)Section 14ASection 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL "G" BENCH, MUMBAI SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER DCIT Circle 3(3)(1), Mumbai, Room No. 609, 6th Floor, Aayakar Bhavan, M.K. Road, Mumbai - 400020 ……………… Appellant M/s Shree Dhoot Trading & Agencies Ltd., 171-C, 17th Floor, Mittal Court, C Wing, Vs Nariman Point, Mumbai – 400021 [PAN: AACCS1621C] ……………. Respondent M/s Shree Dhoot Trading & Agencies Ltd., 171-C, 17th Floor, Mittal Court, C Wing, Nariman Point, Mumbai – 400021 [PAN: AACCS1621C] ……………… Appellant DCIT Circle 3(3)(1), Mumbai, Room No. 609, 6th Floor, Vs Aayakar Bhavan,…

Deputy Commissioner of Income Tax 14(2)(1), Mumbai vs. India Debt Management Private Limited, Mumbai

In the result, appeal by the Revenue is dismissed

ITA 5533/MUM/2017[2011-12]Status: DisposedITAT Mumbai29 Dec 2022AY 2011-12

Bench: Shri B.R. Baskaran & Shri Vikas Awasthyआअसं. 5533/मुं/2017 ("न.व. 2011-12) Dy. Commissioner Of Income Tax-14(2)(1) Room No. 432, 4Th Floor Aayakar Bhavan, M.K. Road, Mumbai 400020 ...... अपीलाथ"/Appellant बनाम Vs. M/S. India Debt Management P. Ltd. C-59, Platina, 'G' Block ..... ""तवाद"/Respondent Bkc, Bandra (East)Mumbai 400051 Pan:Aabci4256N अपीलाथ" "वारा/ Appellant By : Shri Uodal Raj Singh, Sr. Ar ""तवाद" "वारा/Respondent By : Shri Vijay Mehta

For Appellant: Shri Uodal Raj Singh, Sr. ARFor Respondent: Shri Vijay Mehta

…आयकर अपील"य अ"धकरण मुंबई पीठ “के”, मुंबई "ी बी आर बा"करण, लेखाकार सद"य एवं . "ी "वकास अव"थी, "या"यक सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER & SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 5533/मुं/2017 ("न.व. 2011-12) Dy. Commissioner of Income Tax-14(2)(1) Room No. 432, 4th Floor Aayakar Bhavan, M.K. Road, Mumbai 400020 ...... अपीलाथ"/Appellant बनाम Vs. M/s. India Debt Management P. Ltd. C-59, Platina, 'G' Block ..... ""तवाद"/Respondent BKC, Bandra (East)Mumbai 400051 PAN:AABCI4256N अपीलाथ" "वारा/ Appellant by : Shri Uodal Raj Singh, S…

Essar Investments Ltd, Mumbai vs. DCIT 5(1), Mumbai

In the result, the present appeal is partly allowed

ITA 2195/MUM/2014[2009-10]Status: DisposedITAT Mumbai28 Dec 2022AY 2009-10
For Appellant: Shri Vijay MehtaFor Respondent: Ms. Samruddhi D Hande
Section 143(3)Section 144CSection 144C(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER M/s Aaradhana Realties Limited (earlier known as Essar Investment Limited), 202, United Business Park, Wagle Industrial Estate, Thane [PAN:AABCE0686Q] ……………… Appellant Vs Deputy Commissioner of Income Tax, 6(1)(1), Mumbai, Room No. 563B, Aaykar Bhavan, M.K. Road, Mumbai - 400020 ……………. Respondent Appearances For the Appellant/Assessee : Shri Vijay Mehta For the Respondent/Department : Ms. Samruddhi D Hande Ms. Sonia Kumar Date of conclusion of hearing : 30.09.2022 Date of pronouncem…

Tech Mahindra Ltd, Mumbai vs. DCIT 2(3), Mumbai

In the result we are not inclined to interfere in the order of Ld

ITA 6256/MUM/2016[2010-11]Status: DisposedITAT Mumbai30 Nov 2022AY 2010-11

Bench: Shri Vikas Awasthy & Shri Gagan Goyaltech Mahindra Limited, C/O Marriott Hotels India Pvt. Ltd. Gateway Building, Apollo Bunder, Mumbai-400001 Pan: Aaacm3484F ...... Appellant Vs. Dcit-2(3), Room No. 552, Aayakar Bhavan, M.K. Marg, Mumbai-400020. ..... Respondent Acit Circle-2(3)(1), Room No. 552, 5Th Floor, Aayakar Bhavan, M.K. Marg, Mumbai-400020. ..... Appellant Vs. Tech Mahindra Limited, C/O Marriott Hotels India Pvt. Ltd. Gateway Building, Apollo Bunder, Mumbai-400001 Pan: Aaacm3484F ..... Respondent Appellant/Assessee By : Sh. J.D. Mistri / Sh. Harsh Kapadia Respondent/Revenue By : Sh. K.C. Kanojia- Cit-Dr

For Appellant: Sh. J.D. Mistri / Sh. Harsh KapadiaFor Respondent: Sh. K.C. Kanojia- CIT-DR
Section 10(34)Section 10ASection 14ASection 234BSection 250Section 32(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “I”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Tech Mahindra Limited, C/o Marriott Hotels India Pvt. Ltd. Gateway Building, Apollo Bunder, Mumbai-400001 PAN: AAACM3484F ...... Appellant Vs. DCIT-2(3), Room No. 552, Aayakar Bhavan, M.K. Marg, Mumbai-400020. ..... Respondent ACIT Circle-2(3)(1), Room No. 552, 5th Floor, Aayakar Bhavan, M.K. Marg, Mumbai-400020. ..... Appellant Vs. Tech Mahindra Limited, C/o Marriott Hotels India Pvt. Ltd. Gateway Building, Apollo Bunder, Mumbai-400001 PAN: AAACM3484F ..... Respondent…

R K Powergen P Ltd, Chennai vs. PCIT Central I Chennai, Chennai

In the result, the primary condition to invoke the revisional jurisdiction u/s 263 remains unsatisfied

ITA 259/CHNY/2022[2017-18]Status: DisposedITAT Chennai02 Nov 2022AY 2017-18

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri V. Ravichandran (CA) – Ld. ARFor Respondent: Shri S. Senthilkumaran (CIT) – Ld. DR
Section 143(3)Section 14ASection 263

…dity of revisional order. 5. We find that the action of Ld. AO in restricting the disallowance u/s 14A to the extent of exempt income is in consonance with the settled legal position. The case law of Hon’ble Supreme Court in the case of State Bank of Patiala (99 Taxmann.com 286) duly support this view. The Rule 8D prescribe a formula to compute the deduction. The amendment to Rule 8D w.e.f. 02.06.2016 has merely stated that the computation so made as per the mechanism of Rule 8D shall not exceed the expenditure claimed by the assessee. The logic is simple. The Rule 8D provides a formula to work out the disallowan…

Assisstant Commissioner of Income Tax-14(1)(2), Mumbai vs. Schoolnet India Ltd., Mumbai

In the result, the present appeal is dismissed

ITA 2015/MUM/2022[2014-15]Status: DisposedITAT Mumbai28 Oct 2022AY 2014-15
For Appellant: NoneFor Respondent: Shri Sanyam Suresh Joshi
Section 115JSection 143(3)Section 14A

…] 113 taxmann.com 303 (Bombay), and (b) the Assessee has not earned any exempt income during the relevant previous year by following the decision of the Hon‟ble Supreme Court in the case of Principal Commissioner of Income Tax vs. State Bank of Patiala (2018) 99 Taxmann.com 286 (SC). The relevant extract of the order passed by the CIT(A) read as under: “4.4 From perusal of the order passed by Assessing Officer, it is evident that Assessing Officer has not recorded any reasons with regard to correctness of the claim made by the assessee. AO has just assumed that some expenditure out of borrowed fund must have bee…

ACIT Circle-3 (1)(2), Mumbai vs. M/S Force Appliances Pvt Ltd., Mumbai

In the result, the present appeal is dismissed

ITA 7560/MUM/2019[2013-14]Status: DisposedITAT Mumbai27 Oct 2022AY 2013-14
For Appellant: Shri Jay DharoodFor Respondent: Shri Achal Sharma
Section 10(34)Section 143(3)Section 14A

…as under: “3.1.4 In view of the above decision of Hon'ble SC order in Maxopp Investments Ltd, is held that disallowance u/s 14A cannot exceed the exempt income. Recently, once again, the Hon'ble Apex Court in the case of Pr CIT, Patiala Vs State Bank Patiala, 99 Taxmann.com 286, has dismissed the SLP filed against the decision of Ld P&H High Court, upholding the order of Tribunal that the total amount of disallowance u/s 14A cannot exceed the exempt income and has to be restricted to the exempt income only. So, is clear that the entire controversy with respect to the impugned issue has been put to rest by no less…

Advance Investment Meechanics India Pvt. Ltd, Mumbai vs. Income Tax Officer-WD 12(1) (1), Mumbai

In the result, the present appeal is partly allowed

ITA 798/MUM/2022[2016-17]Status: DisposedITAT Mumbai20 Oct 2022AY 2016-17
For Appellant: Shri Haridas BhatFor Respondent: Shri Rajiv Singh
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, MUMBAI SHRI M. BALAGANESH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Advance Investment Mechanics India Pvt. Ltd. 1501, L-Wing, Bhomi Breeze Building, Kulup Wadi, Borivali (East), Mumbai - 400066 [PAN:AAECA1218K] ……………… Appellant Income Tax Officer, Vs Ward 12(1)(1), Mumbai, Aaykar Bhavan, Mumbai - 400020 ……………. Respondent Appearances For the Appellant/Assessee : Shri Haridas Bhat For the Respondent/Department : Shri Rajiv Singh Date of conclusion of hearing : 25.07.2022 Date of pronouncement of order : 20.10.2022 O R D E R Per Rahul Chaudhary, Jud…