Pr.Commissioner of Income Tax v. Empire Package Pvt. Ltd.

Q: How many judgments cite Pr.Commissioner of Income Tax v. Empire Package Pvt. Ltd.?

14 judgments on BharatTax cite Pr.Commissioner of Income Tax v. Empire Package Pvt. Ltd. (286 CTR 457), spanning 2017 to 2023.

286 CTR 457High Court2016#7817 most cited

What is Pr.Commissioner of Income Tax v. Empire Package Pvt. Ltd. authority for?

Disallowance under Section 14A of the Income Tax Act, read with Rule 8D, cannot exceed the amount of exempt income earned by the assessee. The Punjab & Haryana High Court held that the question of whether such a restriction exists is not a substantial question of law, effectively dismissing the revenue's appeal.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2023.

Also referred to as

Pr. Commissioner of Income Tax v. Empire Package Pvt. Ltd. · section 14a · section 14a disallowance · rule 8d · exempt income · disallowance limit · Punjab Haryana High Court · income tax act · 286 CTR 457 · business income

Read the full judgment

Issues it is cited on

disallowance u/s 14a section 14a section 14 india total income company section 143(3)business

Judgments citing Pr.Commissioner of Income Tax v. Empire Package Pvt. Ltd.

DCIT- 8(2)(1), Mumbai vs. Piramal Estates Private Limited, Mumbai

In the result, all the appeals of the revenue are dismissed

ITA 2015/MUM/2023[2010-11]Status: DisposedITAT Mumbai20 Dec 2023AY 2010-11

Bench: Shri Kuldip Singh & Shri Gagan Goyal

For Appellant: Shri Ronak Doshi/Priyank Gandhi/MsFor Respondent: Shri N. V. Nadkarni, Ld. CIT-DR

Section 14ASection 24Section 250

…• Further, reliance is also placed on the following judicial precedents: • PCIT vs. HSBC Invest Direct (India) Ltd. [ITA No. 1672 of 2016 (Bom HC) • Nirved Traders Pvt. Ltd. vs. DCIT [ITA No. 149 of 2017 (Bom HC)] • PCIT vs. Empire Package (P.) Ltd [2017] 286 CTR 457 (P&H HC) • Pinnacle Brocom Pvt. Ltd. v. ACIT (ITA No. 6247/Mum/2012) (Mum Trib.) 3. Thus, in view of foregoing facts and legal position, it is held that the disallowance u/s. 14A of the Act ought to be restricted to Rs. 12,97,766/- i.e. the actual exempt income earned by the Assessee and hence the suo moto disallowance inadvertently made by the…

Dy.C.I;.T.Central Cir6 (3), Mumbai vs. M/S. Reynold Shirting Ltd, Mumbai

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

ITA 2388/MUM/2021[2017-18]Status: DisposedITAT Mumbai03 Aug 2022AY 2017-18

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singhdcit, Cc – 6(3) Vs. Reynold Shirting Ltd Room No. 1926, 19Th 402, 4Th Floor, Kamla Floor, Air India Bldg, Hub Ns Road No.1 Nariman Point, Juhu Scheme, Vile Mumbai-400021. Parle (W), Mumbai -400049. Pan/Gir No. : Aaccr7055H Appellant .. Respondent Appellant By : Ms.Mahita Nair.Dr Respondent By : Ms.Mitalli Gopani.Ar Date Of Hearing 03.08.2022 Date Of Pronouncement 08.08.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Revenue Has Filed The Appeal Against The Order Of The Commissioner Of Income Tax (Appeals) – 54, Mumbai Passed U/S 143(3) & 250. The Revenue Has Raised The Following Revised Grounds Of Appeal:

For Appellant: Ms.Mahita Nair.DRFor Respondent: Ms.Mitalli Gopani.AR

Section 115JSection 143(2)Section 143(3)Section 14A

…al precedents in the case of Bombay High Court in the case of HSBC Invest Direct India Ltd. (421 ITR 125), Delhi High Court in the case of Joint Investments P. Ltd. (372 ITR 295), Punjab & Haryana High Court in the case of Pr.CIT vs. Empire Package Pvt. Ltd. (286 CTR 457), the Hon'ble Supreme Court in the case of Maxopp Investment Ltd. vs. CIT (402 ITR 640). It is also submitted that total Investments as at 31/3/2013 Rs.251,44,04,281/- (P.Y. Rs.252,44,04,281/-) and dividend was earned only on one investment i.e. Reynold Shirting Ltd., Mumbai. Jankalyan Sahakari Bank Rs. 11,50,000/-. Therefore, no disallowance sh…

DCIT, Circle- 1(1), Gurgaon vs. Dlf Universal Ltd., Gurgaon

In the result, the appeal of the Revenue is dismissed

ITA 2180/DEL/2018[2014-15]Status: DisposedITAT Delhi29 Sept 2021AY 2014-15

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Shri Satyajeet Goel, CAFor Respondent: Shri J.K. Mishra, CIT-DR

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

…or computing the disallowance u/s 14A as directed above in relation to the assessment year 2008-09. ” 3.4 Similar view has been held by the Hon'ble jurisdictional Punjab and Haryana High Court in the case of PCIT v. Empire Package Pvt. Ltd( 2016) 136 DTR 342/ 286 CTR 457 (P &H) (HC). In the present case the total tax free dividend income earned by the appellant is Rs.4,30,621/-. The disallowance in the appellant’s case under Rule 8D read with Section 14A shall therefore be 6 I.T.A. No.2180/DEL/2018 not more than 4,30,621/-. Assessing Officer is directed to re-compute the disallowance accordingly. These grounds o…

DCIT, Circle- 1(1), Gurgaon vs. Dlf Universal Ltd., New Delhi

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

ITA 6534/DEL/2017[2013-14]Status: DisposedITAT Delhi28 Jan 2021AY 2013-14

Bench: Shri G.S. Pannu, Vice- & Shri Mahavir Prasadassessment Year: 2013-14

For Appellant: Sh. Sampoornanand, Sr. DRFor Respondent: Sh. Satyajeet Goel, C.A

Section 143(3)Section 14A

…material on record. It is an admitted position that the assessee earned exempt dividend income of Rs.4,30,621/- as has been recorded on page 2 of the assessment order. The Hon'ble jurisdictional High Court in Principal CIT vs. Empire Package Pvt. Ltd. (2016) 286 CTR 457 (P&H), considered the following question raised by the Revenue :- “Whether in the facts and circumstances of the case, the Hon'ble ITAT is justified in law to hold that the disallowance made u/s 14A read with Rule 8D cannot exceed the exempt income in the absence of any such restriction being there in the relevant section or Rule?” 5. The Hon'ble…

Mirah Hospitality & Food Solutions P.Ltd, Mumbai vs. DCIT Cen Cir 2(1), Mumbai

ITA 4693/MUM/2018[2008-09]Status: DisposedITAT Mumbai24 Sept 2020AY 2008-09

Bench: The Itat In These Cases Against A Common Order Of Learned Cit(A) For A.Y. 2008-09, 2009-10 & 2010-11 Dated 28.5.2018. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of “Hotels & Resorts”, Filed The Return Of Income For The Ay 2009-2010 Declaring The Total Loss Of Rs.43,15,534/- After Set Off Of Ltcg Of Rs. 1,31,36,082/-. Assessee Is A Group Concern Of M/S. Twinkle Group. There Was A Search & Seizure Action On The Said M/S. Twinkle Group U/S 132 Of The Act. Accordingly, In Response To The Notice U/S 153A Of The Act, Assessee Filed The Return Of Income Declaring The Same Total Loss (Rs. (-) 43,15,334/-). Ao Completed The Assessment U/S 143(3) R.W.S 153A Of The Act Determining The Total Loss Of Rs. 3,82,977/- Which Include Certain Disallowances & Rs. 27,68,422/- Is One

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

…6 ITR 505 (Bom.) CIT v. HDFC Bank Ltd. 2. 383 ITR 529 (Bom.) HDFC Bank Ltd. v. DCIT 3. 410 ITR 466 (SC) CIT v. Reliance Industries Limited II Disallowance under section 14A cannot exceed exempt income 1. 372 ITR 694 (Del.) Joint Investment Pvt. Ltd. v. CIT 2. 286 CTR 457 (P&H) Pr. CIT v. Empire Package Pvt. Ltd 3. 96 CCH 87 (Madras) Tecpro Systems Ltd. v. UOI 4. 102 taxmann.com 438(Mum. - Trib.) ACIT v. Glenmark Pharmaceuticals Ltd. 5. 46 ITR(Trib) 70 (Mum. - Trib.) Daga Global Chemicals Ltd. v. ACIT 6. 181 TTJ 600 (Mum. - Trib.) Tata Industries Ltd v. ITO III Qua book profit under section 115JB, no adjustment m…

M/S. Oscar Investments Ltd., New Delhi vs. Pr. CIT- 7, New Delhi

ITA 2823/DEL/2016[2011-12]Status: DisposedITAT Delhi04 Nov 2019AY 2011-12

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshram/S. Oscar Investments Ltd. Vs. Pr. Cit-7 54, Janpath, New Delhi. Connaught Place New Delhi 110 001 Pan Aaaco1722C (Appellant) (Respondent) Asstt. Year: 2011-12

For Appellant: Shri Tarandeep Singh, AdvocateFor Respondent: Ms. Nidhi Srivastava, CIT, DR

Section 10(34)Section 143(3)Section 14ASection 263Section 3Section 43B

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B”: NEW DELHI BEFORE SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER M/s. Oscar Investments Ltd. Vs. Pr. CIT-7 54, Janpath, New Delhi. Connaught Place New Delhi 110 001 PAN AAACO1722C (Appellant) (Respondent) Asstt. Year: 2011-12 Assessee by: Shri Tarandeep Singh, Advocate Department by : Ms. Nidhi Srivastava, CIT, DR Date of Hearing 15/10/2019 Date of 04/11/2019 pronouncement O R D E R PER SUDHANSHU SRIVASTAVA, JM: This appeal is preferred by the assessee against order dated 7th March, 2016 passed by the Ld. Pr. Commission…

Phulchand Exports Pvt. Ltd., Mumbai vs. ACIT- 3(2)(2), Mumbai

In the result, appeal is allowed

ITA 3184/MUM/2018[2014-15]Status: DisposedITAT Mumbai24 May 2019AY 2014-15

Bench: Shri Saktijit Dey & Shri Manoj Kumar Aggarwal

For Appellant: Shri S.L. JainFor Respondent: Shri Neil Phillip

Section 14A

…ce under section 14A of the Act can exceed exempt income earned during the year. For such proposition, he relied upon the following decisions:– i) Joint Investments (P.) Ltd. v. CIT (2015) 372 ITR 694 (Del.); and ii) PCIT v/s Empire Package Pvt. Ltd., [2016] 286 CTR 457 (P&H). 8. The learned Departmental Representative submitted, after assessment year 2008–09, disallowance under section 14A of the Act has to be made in accordance with Rule 8D. 9. We have considered rival submissions and perused the material on record. Insofar as the disallowance of interest expenditure of ` 5,87,980 under rule 8D(2)(ii) is con…

Yuvak Ventrures Private Limited (Successors to Aikone Marketing and Management Services Private Limited, Mumbai vs. Deputy Commissioner of Income Tax 8(2)(3), Mumbai

ITA 144/MUM/2018[2009-10]Status: DisposedITAT Mumbai02 Apr 2019AY 2009-10

Bench: Shri Shamim Yahya & Shri Amarjit Singhm/S. Yuvak Ventures Pvt. Ltd., (As Successors To Aikone Marketing & Management Services Pvt. Ltd.,) 405/408, B ……………. Appellant Wing, Navbharat Estate Zakaria Bunder Road Sewree, Mumbai – 400 015 Pan No:Aagca6159B V/S

For Appellant: Shri. Yogesh. A.Thar &For Respondent: Shri. B.B.Rajendra Prasad &

Section 14ASection 271(1)(c)

…TA No. 5480 & 5481/Mum/2014)(Mum. Trib.)  TATA Industries Ltd. V. ITO (4894/Mum/2008) (Mum. Trib.)  Sajjan India Ltd. Vs. ADIT {89 taxmann.com 21) (Mum.) Proposition : Disallowance u/s I4A cannot exceed the exempt income  Pr CIT v. Empire package Pvt. Ltd (286 CTR 457) (P&H HC)  Joint Investments Pvt Ltd v. CIT (ITA No. 1 17/2015) (Del. HC)  Daga Global Chemicals Pvt. Ltd. v. ACIT (!TA No. 5592/Mum/20l2) (Mum. Trib.)  Pinnacle Brocom Pvt. Ltd. v. ACIT (ITA No. 6247/Mum/20!2)(Mum. Trib.)  Parie Pet P. Ltd. V. DCIT (6482/Mum/2012) (Mum.)  Nimbus Communications Ltd. v. ACIT (ITA No. l424/Mum/2014)(Mum )  Sh…

DCIT, Circle-16(2), Hyderabad vs. Mylan Laboratories Limited (Formerly Known As Matrix Laboratories Limited), Hyderabad

In the result, appeal of Revenue is dismissed

ITA 452/HYD/2017[2011-12]Status: DisposedITAT Hyderabad09 May 2018AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

For Appellant: Shri K.A. Sai Prasad, ARFor Respondent: Smt. T.H. Vijaya Lakshmi, CIT-DR

Section 10BSection 115JSection 143(3)Section 14ASection 271(1)(c)Section 92ASection 92C

…of dividend earned and in no case it should exceed the amount of income claimed exemption i.e., in this case amount of Rs. 35,08,501/-. In support, assessee has relied on the following case law: a. Pr.Commissioner of Income Tax Vs. Empire Package Pvt. Ltd., [286 CTR 457 (P & H-HC)]; b. Joint Investments Pvt. Ltd., Vs. CIT [372 ITR 694 (Del- HC)]; c. K. Ratanchand & Co., Vs. ITO [45 ITR (Trib) 608 (Ahd- Trib); d. Pest Control India Pvt. Ltd., Vs. DCIT, ITAT Mumbai dated 31-10-2017; e. TGV Projects & Investments Pvt. Ltd., Vs. ACIT ITAT, Hyderabad, dated 28-02-2017 (SMC); f. Avshesh Mercantile (P) Ltd., Vs. DCIT […

Mylan Laboratories Limited (Formerly Known As Matrix Laboratories Limited), Hyderabad vs. ACIT, Circle-16(2), Hyderabad

In the result, appeal of Revenue is dismissed

ITA 362/HYD/2017[2011-12]Status: DisposedITAT Hyderabad09 May 2018AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri B. Ramakotaiah

For Appellant: Shri K.A. Sai Prasad, ARFor Respondent: Smt. T.H. Vijaya Lakshmi, CIT-DR

Section 10BSection 115JSection 143(3)Section 14ASection 271(1)(c)Section 92ASection 92C

Snj Synthetics Limited, Hyderabad vs. Deputy Commissioner of Income Tax, Circle-3(2), Hyderabad

In the result, appeal of assessee is partly allowed

ITA 1926/HYD/2017[2013-14]Status: DisposedITAT Hyderabad09 May 2018AY 2013-14

Bench: Shri D. Manmohan & Shri B. Ramakotaiah

For Appellant: Shri V. Siva Kumar, ARFor Respondent: Shri B. Suresh Babu, DR

Section 10Section 10(34)Section 10(38)Section 11Section 115JSection 12Section 143(3)Section 14ASection 8D

…nate Bench decision in ITA No. 460/Hyd/2017 in the case of M/s. Kamadhenu Sukrit Pvt. Ltd., Vs. Income Tax Officer, dt. 22-11-2017. Ld. Counsel for assessee has relied on the following case law: a. Pr.Commissioner of Income Tax Vs. Empire Package Pvt. Ltd., [286 CTR 457 (P & H-HC)]; b. Joint Investments Pvt. Ltd., Vs. CIT [372 ITR 694 (Del-HC)]; c. K. Ratanchand & Co., Vs. ITO [45 ITR (Trib) 608 (Ahd-Trib); d. Pest Control India Pvt. Ltd., Vs. DCIT, ITAT Mumbai dated 31-10-2017; e. TGV Projects & Investments Pvt. Ltd., Vs. ACIT ITAT, Hyderabad, dated 28-02-2017 (SMC); f. Avshesh Mercantile (P) Ltd., Vs. DCIT [26…

Anand Rathi Capital Advisors P.Ltd, Mumbai vs. DCIT Cen Cir 5(1), Mumbai

The appeal of the revenue is dismissed

ITA 7543/MUM/2016[2009-10]Status: DisposedITAT Mumbai03 Jan 2018AY 2009-10

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7543, 7544, 7515 & 7546/Mum/2016 (निर्धारण वषा / Assessment Years:2009-10, 2011-12, 2013-14 & 2014-15) M/S Anand Rathi Capital Dcit, Central Circle-5(1) Advisors P. Ltd, 47A, 3Rd R. No. 1928, 19Th Floor, बिधम/ Floor, Plot No. 308 Air India Building, Vs. Hanuman Bldg, Perin Nariman Point, Nariman Street, Fort, Mumbai-400 021 Mumbai – 400 001. स्थामी रेखा सं./ जीआइआय सं./ Pan No. Aaacr2791N (अऩीराथी /Assessee) (प्रत्मथी / Revenue) :

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri Abhijit Patankar, D.R

Section 132(1)Section 143(3)Section 14ASection 153A

…ITA Nos. 7543-7544/Mum/2016, ITA No. 7515/Mum/2016 & ITA No. 7546/Mum/2016 1 Anand Rathi Capital Advisors P. Ltd. vs. DCIT ITA Nos. 7472 -7474/Mum/2016 DCIT vs. Anand Rathi Capital Advisors P. Ltd IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM AND SHRI RAVISH SOOD, JM ITA Nos. 7543, 7544, 7515 and 7546/Mum/2016 (निर्धारण वषा / Assessment Years:2009-10, 2011-12, 2013-14 & 2014-15) M/s Anand Rathi Capital DCIT, Central Circle-5(1) Advisors P. Ltd, 47A, 3rd R. No. 1928, 19th Floor, बिधम/ Floor, Plot No. 308 Air India Building, Vs. Hanuman Bldg, Perin Nariman Point, Nariman Street…

Anand Rathi Global Finance Ltd, Mumbai vs. DCIT Cen Cir 5(1), Mumbai

The appeal of the revenue is dismissed

ITA 7527/MUM/2016[2012-13]Status: DisposedITAT Mumbai03 Jan 2018AY 2012-13

Bench: Shri Rajendra, Am & Shri Ravish Sood, Jm Ita Nos. 7527 & 7526/Mum/2016 (निर्धारण वषा / Assessment Years:2012-13 & 2014-15) M/S Anand Rathi Global Dcit, Central Circle-5(1) Finance Ltd., 4Th Floor, R. No. 1928, 19Th Floor, बिधम/ Silver Metropolis Bldg., Air India Building, Vs. Western Express Highway, Nariman Point, Goregaon (E), Mumbai-400 021 Mumbai-400 063 स्थायी लेखा सं./जीआइआर सं./ Pan No. Aabcr1136N (अऩीराथी /Assessee) (प्रत्मथी / Revenue) :

For Appellant: Shri Anuj Kisnadwala, A.RFor Respondent: Shri Abhijit Patankar, D.R

Section 132(1)Section 143(3)Section 14ASection 14A(1)Section 153A

…P a g e | 1 ITA Nos. 7514,7526,7527,7543,7544,7546 & 7469 to 7474/Mum/2016 M/s Anand Rathi Global Finance Ltd., Vs. DCIT Cen. Cir.-5(1) IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI RAJENDRA, AM AND SHRI RAVISH SOOD, JM ITA Nos. 7527 and 7526/Mum/2016 (निर्धारण वषा / Assessment Years:2012-13 & 2014-15) M/s Anand Rathi Global DCIT, Central Circle-5(1) Finance Ltd., 4th Floor, R. No. 1928, 19th Floor, बिधम/ Silver Metropolis Bldg., Air India Building, Vs. Western Express Highway, Nariman Point, Goregaon (E), Mumbai-400 021 Mumbai-400 063 स्थायी लेखा सं./जीआइआर सं./ PAN No. AABCR1136N (अऩीराथी…

Aha Holdings P. Ltd, Mumbai vs. DCIT 6(1), Mumbai

In the result, appeal filed by the assessee for assessment year 2010-2011

ITA 6054/MUM/2014[2010-11]Status: DisposedITAT Mumbai04 Dec 2017AY 2010-11

Bench: Shri G.S. Pannu (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2010-11 M/S Aha Holdings Pvt. Ltd., The Dcit, Circle- 6(1), (Formerly Known As Idream Aaykar Bhavan, Holding Pvt. Ltd.), M.K. Road, 161, Star City, Vs. Mumbai - 400020 Manmala Tank Road, Mahim (West), Mumbai - 400016 Pan: Aafcs6404E (Appellant) (Respondent) Assessee By : Shri Hiro Rai (Ar) Revenue By : Shri Saurabh Deshpande (Dr) Date Of Hearing : 04/09/2017 Date Of Pronouncement : 04/12/2017

For Appellant: Shri Hiro Rai (AR)For Respondent: Shri Saurabh Deshpande (DR)

Section 10(34)Section 115JSection 14Section 143Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “A”, MUMBAI BEFORE SHRI G.S. PANNU (AM) AND SHRI RAM LAL NEGI (JM) Assessment Year: 2010-11 M/s AHA Holdings Pvt. Ltd., The DCIT, Circle- 6(1), (Formerly known as Idream Aaykar Bhavan, Holding Pvt. Ltd.), M.K. Road, 161, Star City, Vs. Mumbai - 400020 Manmala Tank Road, Mahim (West), Mumbai - 400016 PAN: AAFCS6404E (Appellant) (Respondent) Assessee by : Shri Hiro Rai (AR) Revenue by : Shri Saurabh Deshpande (DR) Date of Hearing : 04/09/2017 Date of Pronouncement : 04/12/2017 O R D E R PER RAM LAL NEGI, JM This appeal has been filed by the assessee against…