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

Tikuchand Durgaji Jogaji, Mumbai vs. ACIT-17(3), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 156/MUM/2019[2015-16]Status: DisposedITAT Mumbai25 Mar 2021AY 2015-16

Bench: Shri Vikas Awasthyआअसं. 6797/मुं/2018 ("न.व. 2011-12) आअसं. 156/मुं/2019 ("न.व. 2015-16) Tikuchand Durgaji Jogani, 301, Gundecha Chambers, N.M.Road, Fort, Mumbai 400 023 Pan: Aaapj8019Q ...... अपीलाथ" /Appellant बनाम Vs. Ito-17(3) (4), Room No.135A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Ashok J. PatilFor Respondent: Shri Sanjay Sethi
Section 14A

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” , मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 6797/मुं/2018 ("न.व. 2011-12) आअसं. 156/मुं/2019 ("न.व. 2015-16) Tikuchand Durgaji Jogani, 301, Gundecha Chambers, N.M.Road, Fort, Mumbai 400 023 PAN: AAAPJ8019Q ...... अपीलाथ" /Appellant बनाम Vs. ITO-17(3) (4), Room No.135A, 1st Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Shri Ashok J. Patil ""तवाद" "वारा/Respondent by : Shri Sanjay Sethi सुनवाई क" "त"थ/ Dat…

Tikuchand Durgaji Jogani, Mumbai vs. ITO 17(3)(4), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 6797/MUM/2018[2011-12]Status: DisposedITAT Mumbai25 Mar 2021AY 2011-12

Bench: Shri Vikas Awasthyआअसं. 6797/मुं/2018 ("न.व. 2011-12) आअसं. 156/मुं/2019 ("न.व. 2015-16) Tikuchand Durgaji Jogani, 301, Gundecha Chambers, N.M.Road, Fort, Mumbai 400 023 Pan: Aaapj8019Q ...... अपीलाथ" /Appellant बनाम Vs. Ito-17(3) (4), Room No.135A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Ashok J. PatilFor Respondent: Shri Sanjay Sethi
Section 14A

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” , मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 6797/मुं/2018 ("न.व. 2011-12) आअसं. 156/मुं/2019 ("न.व. 2015-16) Tikuchand Durgaji Jogani, 301, Gundecha Chambers, N.M.Road, Fort, Mumbai 400 023 PAN: AAAPJ8019Q ...... अपीलाथ" /Appellant बनाम Vs. ITO-17(3) (4), Room No.135A, 1st Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Shri Ashok J. Patil ""तवाद" "वारा/Respondent by : Shri Sanjay Sethi सुनवाई क" "त"थ/ Dat…

Galada Finane Ltd, Chennai vs. DCIT, Corp Cir 2(1), Chennai

In the result, appeal filed by the assessee is dismissed

ITA 572/CHNY/2019[2015-16]Status: DisposedITAT Chennai10 Mar 2021AY 2015-16

Bench: Shri Mahavir Singh, Vice- & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.572/Chny/2019 ("नधा"रणवष" / Assessment Year: 2015-16) M/S. Galada Finance Ltd. Vs The Deputy Commissioner Of 7, Shaffee Mohammed Road, Income Tax, Thousands Lights, Corporate Circle-2(1) Chennai-600 006. Chennai. Pan:Aabcg 6566B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. Suresh Periasamy,JCITFor Respondent: 09.03.2021
Section 115JSection 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी महावीर "संह, उपा"य" एवं "ी जी. मंजुनाथ, लेखा सद%य के सम" BEFORE SHRI MAHAVIR SINGH, VICE-PRESIDENT AND SHRI G.MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.No.572/Chny/2019 ("नधा"रणवष" / Assessment Year: 2015-16) M/s. Galada Finance Ltd. Vs The Deputy Commissioner of 7, Shaffee Mohammed Road, Income Tax, Thousands Lights, Corporate Circle-2(1) Chennai-600 006. Chennai. PAN:AABCG 6566B (अपीलाथ"/Appellant) (""यथ"/Respondent) : None अपीलाथ"क"ओरसे/ Appellant by : Mr. Suresh Periasamy,JCIT ""यथ"क"ओरसे/Respondent by…

ACIT, Circle-7 (3)(2), Mumbai vs. M/S. Prime Securities Ltd., Mumbai

In the result, appeal of the revenue is dismissed

ITA 5218/MUM/2019[2013-14]Status: DisposedITAT Mumbai10 Feb 2021AY 2013-14

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble

For Appellant: Shri J.P. BairagraFor Respondent: Ms. Shreekala Pardeshi
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “C” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND SHRI N.K. PRADHAN, HON'BLE ACCOUNTANT MEMBER ITA.NO. 5218/MUM/2019 (A.Y: 20131-14) ACIT – Circle -7(3)(2) v. M/s. Prime Securities Ltd., Room No. 128A, 1st Floor 1109/1110, 11th Floor Aayakar Bhavan, M.K. Road Maker Chambers-5 Mumbai – 400 020 Nariman Point, Mumbai - 400021 PAN: AAACP4089M (Appellant) (Respondent) Assessee by : Shri J.P. Bairagra Department by : Ms. Shreekala Pardeshi Date of Hearing : 10.02.2021 Date of Pronouncement : 10.02.2021 O R D E R PER C.N. PRASAD (JM) 1. This ap…

Manekchand Panchand Trading Investment Company Pvt Ltd., Mumbai vs. DCIT 5 (2)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 4645/MUM/2019[2014-15]Status: DisposedITAT Mumbai19 Jan 2021AY 2014-15

Bench: Shri C.N. Prasad, Hon'Ble & Ita.No. 4645/Mum/2019 (A.Y: 2014-15) Manekchand Panachand Trading V. Dy. Commissioner Of Income Tax Range – 5(2)(2) Investment Company Pvt. Ltd., Room No. 571, Aayakar Hira Baug, Kasturba Chowk Bhavan, M.K. Road C.P. Tank Road, Charni Road (E) Mumbai – 400 020 Mumbai – 400004 Pan: Aaacm4147P (Appellant) (Respondent) Assessee By : Ms. Shefali Garg Department By : Shri Sanjay J. Sethi

For Appellant: Ms. Shefali GargFor Respondent: Shri Sanjay J. Sethi
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT) “SMC” BENCH, MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER AND ITA.NO. 4645/MUM/2019 (A.Y: 2014-15) Manekchand Panachand Trading v. Dy. Commissioner of Income Tax Range – 5(2)(2) Investment Company Pvt. Ltd., Room No. 571, Aayakar Hira Baug, Kasturba Chowk Bhavan, M.K. Road C.P. Tank Road, Charni Road (E) Mumbai – 400 020 Mumbai – 400004 PAN: AAACM4147P (Appellant) (Respondent) Assessee by : Ms. Shefali Garg Department by : Shri Sanjay J. Sethi Date of Hearing : 19.01.2021 Date of Pronouncement : 19.01.2021 O R D E R PER C.N. PRASAD (JM) 1. This ap…

ITO 11(1)(3), Mumbai vs. M/S Satguru Corporates Services Pvt Ltd., Mumbai

In the result, appeal by the Revenue is dismissed

ITA 4537/MUM/2019[2013-14]Status: DisposedITAT Mumbai18 Jan 2021AY 2013-14

Bench: Shri Vikas Awasthy & Shri S.Rifaur Rahman. आअसं. 4537/मुं/2019 ("न.व.2013-14) The Income Tax Officer -11(1)(3), Room No.201, 2Nd Floor, Aaykar Bhavan, M.K.Road, : अपीलाथ"/ Appellant Mumbai 400 020 बनाम/ Vs. M/S. Satguru Corporates Services Pvt. Ltd., 5Th Floor, Sunteck Centre,37/40, Subhash Road, Vile Parle(E), Mumbai 400 057, Pan: Aapcs 2160R : ""थ"/ Respondent

For Appellant: NoneFor Respondent: Shri Sanjay J. Sethi
Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य के सम" एवं "ी एस. "रफौर रहमान, लेखा सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER. आअसं. 4537/मुं/2019 ("न.व.2013-14) The Income Tax Officer -11(1)(3), Room No.201, 2nd Floor, Aaykar Bhavan, M.K.Road, : अपीलाथ"/ Appellant Mumbai 400 020 बनाम/ Vs. M/s. Satguru Corporates Services Pvt. Ltd., 5th Floor, Sunteck Centre,37/40, Subhash Road, Vile Parle(E), Mumbai 400 057, PAN: AAPCS 2160R : ""थ"/ Respondent Assessee by : None Revenue…

The DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Broking Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 446/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2012-13

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…आयकर अपील"य अ"धकरण, अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, AHMEDABAD (THROUGH VIRTUAL COURT) BEFORE SHRI JUSTICE P.P. BHATT, HON’BLE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sl. ITA No(s) Asset. Appeal(s) by No(s) Year(s) Appellant vs. Respondent Appellant Respondent 1. 413/Ahd/2016 2010-11 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd. Ahmedabad-380015 [Formerly Known Anagram Stock Broking Ltd] ‘Anagram House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 2. 445/Ahd/2016 2012-13 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd.…

The DCIT, Circle-1(3), Ahmedabad vs. Edelweiss Financial Advisors Ltd., ( Formerly Known Anagram Stock Broking Ltd., Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 445/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…आयकर अपील"य अ"धकरण, अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, AHMEDABAD (THROUGH VIRTUAL COURT) BEFORE SHRI JUSTICE P.P. BHATT, HON’BLE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sl. ITA No(s) Asset. Appeal(s) by No(s) Year(s) Appellant vs. Respondent Appellant Respondent 1. 413/Ahd/2016 2010-11 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd. Ahmedabad-380015 [Formerly Known Anagram Stock Broking Ltd] ‘Anagram House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 2. 445/Ahd/2016 2012-13 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd.…

M/S. Edelweiss Broking Ltd. ( Amalgamating Company Edelweiss Financial Advisors Ltd.), Ahmedabad vs. The Jt. CIT, Range-3, Ahmedabad

In the result, the appeal filed by the Revenue is dismissed

ITA 318/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad01 Dec 2020AY 2011-12

Bench: Shri Justice P.P. Bhatt, Hon’Ble & Shri Waseem Ahmed

For Respondent: Shri Dileep Kumar, Sr. DR
Section 143(3)Section 14ASection 32Section 36Section 36(2)Section 37Section 48Section 73

…आयकर अपील"य अ"धकरण, अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, AHMEDABAD (THROUGH VIRTUAL COURT) BEFORE SHRI JUSTICE P.P. BHATT, HON’BLE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER Sl. ITA No(s) Asset. Appeal(s) by No(s) Year(s) Appellant vs. Respondent Appellant Respondent 1. 413/Ahd/2016 2010-11 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd. Ahmedabad-380015 [Formerly Known Anagram Stock Broking Ltd] ‘Anagram House’ Near H. L. Commerce College, Stadium Road, Navrangpura, Ahmedabad-380009 PAN No. AABCA9956F 2. 445/Ahd/2016 2012-13 DCIT Edelweiss Financial Circle-1(3), Advisors Ltd.…

Meditab Speciakities Pvt. Ltd., Mumbai vs. DCIT 2(2)(2), Mumbai

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

ITA 950/MUM/2019[2013-14]Status: DisposedITAT Mumbai27 Oct 2020AY 2013-14

Bench: Shri Vikas Awasthy & Shri Rajesh Kumarआअसं. 950/मुं/2019 (िन. व. 2013-14) Meditab Specialities Pvt. Ltd. C-1, Pooja Apartments, Hariyali Estate, Lbs Marg, Vikhroli (W), Mumbai-400083. Pan: Aaacm6124A ...... अपीलाथ- /Appellant बनाम Vs. The Dcit 2(2)(2), 5Th Floor, Aayakar Bhavan, M.M. Marg, Mumbai 400020 ..... .ितवाद"/Respondent

For Appellant: NoneFor Respondent: Shri Vijay Jaiswal (DR)
Section 14A

…आयकर अपीलीय अिधकरण मुंबई पीठ “ड" ” IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI "ी "वकास अव"थी, "याियक सद"य एवं "ी राजेश कुमार , लेखा सद"य के सम$ BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI RAJESH KUMAR, ACCOUNTANT MEMBER आअसं. 950/मुं/2019 (िन. व. 2013-14) Meditab Specialities Pvt. Ltd. C-1, Pooja Apartments, Hariyali Estate, LBS Marg, Vikhroli (W), Mumbai-400083. PAN: AAACM6124A ...... अपीलाथ- /Appellant बनाम Vs. The DCIT 2(2)(2), 5th Floor, Aayakar Bhavan, M.M. Marg, Mumbai 400020 ..... .ितवाद"/Respondent अपीलाथ- 0ारा/ Appellant by : None .ितवाद" 0ारा/Respondent by : Shri Vijay Jaisw…

M/S. Dharampal Satyapal Ltd., Delhi vs. ACIT, New Delhi

ITA 1380/DEL/2017[2012-13]Status: DisposedITAT Delhi07 Oct 2020AY 2012-13

Bench: Shri Amit Shukla & Sh. Prashant Maharishi(Through Video Conferencing) Assessment Year: 2012-13 M/S. Dharampal Satyapal Ltd. Acit, 1711, S. P. Mukherjee Marg, Vs Central Circle – 29, Delhi-110006 New Delhi Pan No. Aaacd0132H (Appellant) (Respondent) Appellant By Sh. R. S. Singhavi, Ca Sh. Satyajeet Goel, Ca Respondent By Sh. Sanjay I. Bara, Cit Dr Date Of Hearing: 28/08/2020 Date Of Pronouncement: 07/10/2020 Order

Section 115JSection 143Section 144CSection 14ASection 14A(2)Section 36Section 43(5)(d)Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I-1’, NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SH. PRASHANT MAHARISHI, ACCOUNTANT MEMBER (Through Video Conferencing) Assessment Year: 2012-13 M/s. Dharampal Satyapal Ltd. ACIT, 1711, S. P. Mukherjee Marg, Vs Central Circle – 29, Delhi-110006 New Delhi PAN No. AAACD0132H (APPELLANT) (RESPONDENT) Appellant by Sh. R. S. Singhavi, CA Sh. Satyajeet Goel, CA Respondent by Sh. Sanjay I. Bara, CIT DR Date of hearing: 28/08/2020 Date of Pronouncement: 07/10/2020 ORDER PER PRASHANT MAHARISHI, AM: 1. This appeal is filed by M/s Dharmpal Satyapal & co, (The…

The DCIT, Circle-1(1)(1), Ahmedabad vs. Adani Wilmair Ltd., Ahmedabad

In the result, the CO. of the assessee is partly allowed

ITA 1761/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad19 Aug 2020AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1761/Ahd/2016 With C.O. No.133/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Adani Wilmar Ltd., Circle-1(1)(1), Vs. “Fortune House”, Ahmedabad. Near Adani House Mithakali Cross Roads, Navrangpura, Ahmedabad Pan: Aabca8056G

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, &For Respondent: Shri Vinod Tanwani, Sr. D.R
Section 10(34)Section 14ASection 41(1)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ D’’ BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 1761/AHD/2016 With C.O. No.133/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 D.C.I.T., Adani Wilmar Ltd., Circle-1(1)(1), Vs. “Fortune House”, Ahmedabad. Near Adani House Mithakali Cross Roads, Navrangpura, Ahmedabad PAN: AABCA8056G (Applicant) (Respondent) Revenue by : Shri Vinod Tanwani, Sr. D.R Assessee by : Shri S.N. Soparkar, Sr. Advocate with Shri Parin Shah, &…

Sri Alok Agrawal, Sundergarh vs. Pr. CIT, Sambalpur

In the result, both appeals of the assessee are partly allowed

ITA 160/CTK/2019[2014-15]Status: DisposedITAT Cuttack10 Aug 2020AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita Nos.319/Ctk/2018 & Ita No.160/Ctk/2019 (नििाारण वषा / Assessment Year :2013-2014 & 2014-2015) Sri Alok Agrawal, Vs. Pr. Cit, Sambalpur Rathor Colony, Ocl Approach Road, Rajgangpur, District-Sundergarh Pan No. : Afkpa 2367 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri S.S.Poddar, Ca राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 04/08/2020 घोषणा की तारीख/Date Of Pronouncement : 11/08/2020 आदेश / O R D E R Per L.P.Sahu, Am: These Two Appeals Have Been Filed By The Assessee Against The Order Passed By The Pr. Cit, Sambalpur, Dated 26.03.2018 & 26.03.2019 For The Assessment Years 2013-2014 & 2014-2015. 2. Similar Issue Has Been Raised In Both The Appeals, Therefore, For The Sake Of Convenience & Brevity, We Shall Decide The Appeal Of The Assessee For A.Y.2013-2014 In Ita No.319/Ctk/2018 After Taking Into Consideration The Grounds & Facts Mentioned Therein & The Outcome Of The Same Shall Be Applied Mutatis Mutandis To The Appeal Of The Assessee For A.Y.2014-2015 Also. 3. Grounds Raised In Ita No.319/Ctk/2018 For A.Y.2013-2014 Are As Under :- 1. That The Notice Issued Under Section 263 By The Principal Commissioner Of Income Tax, Sambalpur (Hereinafter Referred To As "Pr. Cit") & The Order Passed Under Section 263 Is Unjustified, Arbitrary, Excessive, Contrary To Evidences & Bad In Law.

For Appellant: Shri S.S.Poddar, CAFor Respondent: Shri M.K.Gautam, CIT-DR
Section 143(3)Section 14ASection 263Section 263(1)

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA Nos.319/CTK/2018 & ITA No.160/CTK/2019 (नििाारण वषा / Assessment Year :2013-2014 & 2014-2015) Sri Alok Agrawal, Vs. Pr. CIT, Sambalpur Rathor Colony, OCL Approach Road, Rajgangpur, District-Sundergarh PAN No. : AFKPA 2367 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri S.S.Poddar, CA राजस्व की ओर से /Revenue by : Shri M.K.Gautam, CIT-DR सुनवाई की तारीख / Date of Hearing : 04/08/2020 घोषणा की तारीख/Date of Pronou…

Sri Alok Agarwal, Sundergarh vs. Principal CIT, Sambalpur

In the result, both appeals of the assessee are partly allowed

ITA 319/CTK/2018[2013-14]Status: DisposedITAT Cuttack10 Aug 2020AY 2013-14

Bench: Shri C.M. Garg, Jm & Shri L.P. Sahu, Am आयकर अऩीऱ सं./Ita Nos.319/Ctk/2018 & Ita No.160/Ctk/2019 (नििाारण वषा / Assessment Year :2013-2014 & 2014-2015) Sri Alok Agrawal, Vs. Pr. Cit, Sambalpur Rathor Colony, Ocl Approach Road, Rajgangpur, District-Sundergarh Pan No. : Afkpa 2367 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee By : Shri S.S.Poddar, Ca राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 04/08/2020 घोषणा की तारीख/Date Of Pronouncement : 11/08/2020 आदेश / O R D E R Per L.P.Sahu, Am: These Two Appeals Have Been Filed By The Assessee Against The Order Passed By The Pr. Cit, Sambalpur, Dated 26.03.2018 & 26.03.2019 For The Assessment Years 2013-2014 & 2014-2015. 2. Similar Issue Has Been Raised In Both The Appeals, Therefore, For The Sake Of Convenience & Brevity, We Shall Decide The Appeal Of The Assessee For A.Y.2013-2014 In Ita No.319/Ctk/2018 After Taking Into Consideration The Grounds & Facts Mentioned Therein & The Outcome Of The Same Shall Be Applied Mutatis Mutandis To The Appeal Of The Assessee For A.Y.2014-2015 Also. 3. Grounds Raised In Ita No.319/Ctk/2018 For A.Y.2013-2014 Are As Under :- 1. That The Notice Issued Under Section 263 By The Principal Commissioner Of Income Tax, Sambalpur (Hereinafter Referred To As "Pr. Cit") & The Order Passed Under Section 263 Is Unjustified, Arbitrary, Excessive, Contrary To Evidences & Bad In Law.

For Appellant: Shri S.S.Poddar, CAFor Respondent: Shri M.K.Gautam, CIT-DR
Section 143(3)Section 14ASection 263Section 263(1)

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI L.P. SAHU, AM आयकर अऩीऱ सं./ITA Nos.319/CTK/2018 & ITA No.160/CTK/2019 (नििाारण वषा / Assessment Year :2013-2014 & 2014-2015) Sri Alok Agrawal, Vs. Pr. CIT, Sambalpur Rathor Colony, OCL Approach Road, Rajgangpur, District-Sundergarh PAN No. : AFKPA 2367 R (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri S.S.Poddar, CA राजस्व की ओर से /Revenue by : Shri M.K.Gautam, CIT-DR सुनवाई की तारीख / Date of Hearing : 04/08/2020 घोषणा की तारीख/Date of Pronou…

Oriental Aromatics Ltd, Mumbai vs. DCIT Cir 1(2)(2), Mumbai

In the result, appeal of the assessee is partly allowed

ITA 96/MUM/2018[2013-14]Status: DisposedITAT Mumbai27 Jul 2020AY 2013-14

Bench: Shri Vikas Awasthy & Shri N.K.Pradhanआअसं. 96/मुं/2018 ("न.व. 2013-14) M/S.Oriental Aromatics Ltd., 2Nd Floor, 133, Jehangir Building, M.G.Road, Mumbai 400 001 Pan: Aaaco4618F ...... अपीलाथ" /Appellant

For Appellant: Ms. Usha KadamFor Respondent: Shri Uodal Raj Singh
Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण मुंबई पीठ “ जे ”, मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “J”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य एवं "ी नबीन कुमार "धान, लेखा सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI N.K.PRADHAN, ACCOUNTANT MEMBER आअसं. 96/मुं/2018 ("न.व. 2013-14) M/s.Oriental Aromatics Ltd., 2nd Floor, 133, Jehangir Building, M.G.Road, Mumbai 400 001 PAN: AAACO4618F ...... अपीलाथ" /Appellant बनाम Vs. The Dy. Commissioner of Income Tax 1(2)(2), Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Ms. Usha Kadam ""तवाद" "वारा/Respondent by : S…

Jhp Securities P.Ltd, Mumbai vs. ITO 4(3)(1), Mumbai

The appeal of the assessee is partly allowed for statistical purpose

ITA 6490/MUM/2018[2012-13]Status: DisposedITAT Mumbai12 Jun 2020AY 2012-13

Bench: Shri Vikas Awasthy & "ी जी. मंजुनाथ, लेखा सद"य के सम" Shri G.Manjunathaआअसं. 6490/मुं/2018 ("न.व 2012-13) Jhp Securities Pvt. Ltd. 201,Dev Neo Vikram, ‘B’ Wing, 2Nd Floor, Sahakar Nagar Chs, New Link Road, Andheri (W), Mumbai 400 053 Pan: Aaacj2847H ...... अपीलाथ" /Appellant बनाम Vs. Income Tax Officer 4(3)(1) Room No.648, 6Th Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai 400 020

For Appellant: S/ Shri V.G.Ginde/Kumar KaleFor Respondent: Ms. R. Kavitha
Section 14A

…आयकर अपील"य अ"धकरण IN THE INCOME TAX APPELLATE TRIBUNAL मुंबई पीठ “एसएमसी ” MUMBAI BENCH “ SMC ”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य एवं BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & "ी जी. मंजुनाथ, लेखा सद"य के सम" SHRI G.MANJUNATHA, ACCOUNTANT MEMBER आअसं. 6490/मुं/2018 ("न.व 2012-13) JHP Securities Pvt. Ltd. 201,Dev Neo Vikram, ‘B’ Wing, 2nd Floor, Sahakar Nagar CHS, New Link Road, Andheri (W), Mumbai 400 053 PAN: AAACJ2847H ...... अपीलाथ" /Appellant बनाम Vs. Income Tax Officer 4(3)(1) Room No.648, 6TH Floor, Aaykar Bhavan, M.K.Road, ..... ""तवाद"/Respondent Mumbai 400 020 अपीलाथ" "वारा/ Appellant by : S/ S…

JCIT, (OSD), Circle - 6(1), Kolkata vs. M/S. Isg Traders Ltd., Kolkata

In the result, the appeal of revenue is dismissed

ITA 1610/KOL/2019[2012-13]Status: DisposedITAT Kolkata05 Jun 2020AY 2012-13

Bench: Shri P.M. Jagtap(Kz) & Shri A. T. Varkey, Jm] Assessment Year: 2012-13

Section 143(3)Section 14ASection 263

…1 IGS Traders Ltd., AY- 2012-13 आयकर अपील"य अधीकरण, "यायपीठ – “B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA (सम")"ी पी. एम.जगताप, उपा"य" एवं "ी ए.ट". वक","या"यक सद"य) [Before Shri P.M. Jagtap, Vice President (KZ) & Shri A. T. Varkey, JM] Assessment Year: 2012-13 Joint Commissioner of Income- Vs. M/s. ISG Traders Ltd., tax(OSD),Circle-6(1), Kolkata. (PAN: AABCI1355C) Appellant Respondent Date of Hearing 26.02.2020 Date of Pronouncement 05.06.2020 For the Appellant Smt. Ranu Biswas, Addl. CIT, DR For the Respondent Shri G. A. Seshan, AR ORDER Per A. T. Varkey, JM: This is an appeal pref…

Shriram Industrial Finance (Firm), Chennai vs. DCIT Non Corporate Circle 2, Chennai

In the result, the appeal of the assessee is allowed

ITA 2007/CHNY/2018[2014-15]Status: DisposedITAT Chennai24 Feb 2020AY 2014-15

Bench: Shri Mahavir Singh & Shri M. Balaganeshआयकर अपील सं./Ita No.2007/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15

For Appellant: Mrs. Vijaprabha, JCITFor Respondent: 24.02.2020
Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ‘सी’ "यायपीठ, चे"नई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI "ी महावीर "संह, उपा"य" एवं "ी एम बाला गणेश, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI M. BALAGANESH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2007/Chny/2018 "नधा"रण वष" /Assessment Year: 2014-15 M/s. Shriram Industrial Finance (Firm), The Dy. Commissioner of Mookambika Complex, Vs. Income Tax, No.4, Lady Desika Road, Mylapore, Non-Corporate Circle-2, Chennai – 600 004. Chennai. [PAN: AACFS 1682A] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri R. Srinivasan, Advocate अपीलाथ" क" ओर से/ Appellan…

M/S. Rajdeep Automation Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 5, Pune

In the result, both the appeals of assessee are partly allowed

ITA 2375/PUN/2017[2013-14]Status: DisposedITAT Pune21 Feb 2020AY 2013-14

Bench: Shri George Mathan, Jm & Shri Anil Chaturvedi, Am

For Appellant: Miss Jyoti SinghFor Respondent: Shri S.P. Walimbe
Section 143(3)Section 14A

…ricted to the amount of exempt income only and not at a higher figure. We find that against the aforesaid order of Punjab and Haryana High Court, Revenue filed S.L.P. before the Hon’ble Apex Court and the S.L.P. was dismissed by the Hon’ble Apex Court (2018) 99 Taxmann.com 286 (SC). We further find that Hon’ble Delhi High Court in the case of PCIT Vs Caraf Builders & Construction (P) Ltd., (2019) 101 Taxmann.com 167 (Del) after considering the decisions of Hon’ble Apex Court in the case of Maxopp Investment Ltd. Vs. CIT (2018) 402 ITR 640, Cheminvest Vs. CIT (2015) 378 ITR 33 and other decisions has held tha…

M/S. Rajdeep Automation Pvt.Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 5, Pune

In the result, both the appeals of assessee are partly allowed

ITA 2374/PUN/2017[2012-13]Status: DisposedITAT Pune21 Feb 2020AY 2012-13

Bench: Shri George Mathan, Jm & Shri Anil Chaturvedi, Am

For Appellant: Miss Jyoti SinghFor Respondent: Shri S.P. Walimbe
Section 143(3)Section 14A

…ricted to the amount of exempt income only and not at a higher figure. We find that against the aforesaid order of Punjab and Haryana High Court, Revenue filed S.L.P. before the Hon’ble Apex Court and the S.L.P. was dismissed by the Hon’ble Apex Court (2018) 99 Taxmann.com 286 (SC). We further find that Hon’ble Delhi High Court in the case of PCIT Vs Caraf Builders & Construction (P) Ltd., (2019) 101 Taxmann.com 167 (Del) after considering the decisions of Hon’ble Apex Court in the case of Maxopp Investment Ltd. Vs. CIT (2018) 402 ITR 640, Cheminvest Vs. CIT (2015) 378 ITR 33 and other decisions has held tha…