Redington (India) Ltd. v. Addl. CIT

77 Taxmann.com 257High Court2017#201 most cited

What is Redington (India) Ltd. v. Addl. CIT authority for?

No disallowance under Section 14A can be made in the absence of actual exempt income, as Section 14A relates to the earning of actual income, not notional or anticipated income, thereby declining to apply the CBDT Circular dated 11th May 2014 in such cases.

370

judgments rely on this decision, according to BharatTax’s citation analysis of 367,164 Indian tax judgments — from 2016 to 2026.

Also referred to as

Redington (India) Ltd. v. Addl. CIT · Section 14A disallowance · absence of exempt income · actual income · notional income · CBDT Circular 11 May 2014 · expenditure for exempt income · Madras High Court · 392 ITR 633 · 77 taxmann.com 257

Also reported as

392 ITR 633

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 8DSection 250Section 35ADSection 35AD(7B)Section 37(1)

Issues it is cited on

strategic investmentdisallowance of interest expendituredisallowance u/s 14adisallowance under section 14asection 14amercantile system of accountingsection 32section 9(1)commercial expediencysection 43section 43bsection 37

Judgments citing Redington (India) Ltd. v. Addl. CIT

DCIT 12 (2)(2), Mumbai vs. Hathway Cable and Datacom Ltd., Mumbai

In the result the appeal filed by the Revenue challenging the Judgement of P&H Court in State Bank of Patiala also fails though law in this regard has been clarified herewith

ITA 6231/MUM/2019[2016-17]Status: DisposedITAT Mumbai02 Aug 2021AY 2016-17
Section 14A

…THE INCOME TAX APPELLATE TRIBUNAL “H” Bench, Mumbai Shri Shamim Yahya (AM) & Shri Pavankumar Gadale (JM) I.T.A. No. 6231/Mum/2019 (Assessment Year 2016-17) Vs. M/s. Hathway Cable DCIT-12(2)(2) Room No. 128F & Datacom Ltd. 1st Floor 4th Floor, Rahejas Aayakar Bhavan V.P. Road, Corner of M.K. Road Main Avenue Mumbai-400 020. Santacruz – West Mumbai-400 054. PAN : AAACC6814B (Appellant) (Respondent) Assessee by Shri Nimesh Vora Department by Shri Gurbinder Singh Date of Hearing 29.07.2021 Date of Pronouncement 02.08.2021 O R D E R Per Shamim Yahya (AM) :- This appeal by the Revenue is directed against the ord…

Greatship (India) Ltd, Mumbai vs. DCIT 5(1)(1), Mumbai

In the result, appeal is partly allowed

ITA 901/MUM/2015[2010-11]Status: DisposedITAT Mumbai22 Apr 2021AY 2010-11

Bench: Shri Saktijit Dey () & Shri Manoj Kumar Aggarwal ()

Section 143(3)

…ansaction against receivables; hence, loss claimed should be allowed. In support of such contention, he relied upon the following decisions:- 1. CIT vs Badridas Gauridu 261 ITR 256 (Bom) 2. CIT vs D Chetan & Co 390 ITR 56 (Del) 3. CIT vs Celebrity Fashion Ltd 428 ITR 470 (Mad) 4. CIT vs Friends and Friends Shipping Pvt Ltd 35 taxmann.com 553 (Guj) 5. DCIT vs Mahindra Bros Export P Ltd 161 ITD 772 (Mum) 6. Uni Design Jewellery P Ltd vs DCIT ITA 2578/Mum/2018 dt 30-09-2019 19. The learned Departmental Representative strongly relying upon the observations of the assessing officer and learned DRP submitted, the asses…

DCIT Corporate Circle 2 (1), Chennai vs. M/S Frendi Fashions Pvt Ltd, Chennai

In the result, appeal filed by the revenue is dismissed

ITA 1438/CHNY/2018[2014-15]Status: DisposedITAT Chennai31 Mar 2021AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunatha

For Appellant: Mr.B.Ramakrishnan, FCAFor Respondent: 16.03.2021
Section 14ASection 36(1)(va)Section 43(5)Section 43B

…the findings of High Court of Madras holding that if no exempt income, then no disallowance u/s.14A read with Rule 8D of the Income Tax Rules, 1962. The Hon'ble Jurisdictional High Court of Madras in the case of M/s. Redington India Ltd. Vs.Addl.CIT (2017) 77 Taxmann.com 257 (Mad) has taken a similar view and held that no disallowance should be made, if exempt income is shown as Nil. The learned CIT(A), after considering relevant submissions of the assessee and also by following decisions of Hon'ble Jurisdictional High Court of Madras in the cases discussed hereinabove, deleted additions made by the Assessin…

Magarpatta Township Development & Construction Co. Ltd, Pune vs. Deputy Commissioner of Income-Tax, Circle - 14, Pune

In the result, the appeal filed by the assessee stands allowed

ITA 2945/PUN/2017[2013-14]Status: DisposedITAT Pune05 Mar 2021AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपील सं. / Ita No.2945/Pun/2017 िनधा"रण वष" / Assessment Year : 2013-14 Magarpatta Township Development & Construction Co. Ltd., 13, Megaspace, Sholapur Bazar Road, Off East Street, Camp, Pune-411001. .......अपीलाथ" / Appellant Pan : Aabcm2461K बनाम / V/S. Dcit, Circle-14, ……""यथ" / Respondent Pune. Assessee By : Shri Sakharam Sable Revenue By : Shri S. P. Walimbe सुनवाई क" तारीख / Date Of Hearing : 04.03.2021 घोषणा क" तारीख / Date Of Pronouncement : 05.03.2021 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)- 9, Pune (‘Cit(A)’ For Short) Dated 30.10.2017 For The Assessment Year 2013-14. 2. The Appellant Raised The Following Grounds Of Appeal :- “A) The Learned Assessing Officer Has Erred In Making An Addition Of Rs.3,86,352/- On Account Of Disallowance U/S 14A Read With Rule- 8(D), While The Appellant Company Has Not Received Any Sum By Way Of Exempt Income. Further, The Appellant Company Has Not Made Any Additional Investments Generating Exempt Income During The Year. The Company Has Not Utilized Any Borrowed Funds For Investments. On The Similar Facts, The Learned Commissioner Of Income Tax (Appeals) Has Deleted The Disallowance For A.Y. 2009-10 & 2011-12. The Same Has Been Upheld By Itat (Pune Bench) For A.Y. 2009-10. Therefore, In The Light Of Various Judicial Decisions, This Disallowance Being Unwarranted Needs Cancellation. B) The Appellant Craves Leave To Add, Modify, Expand The Ground(S) Of Appeal & Lay/Produce The Evidence(S) At The Time Of Hearing.”

For Appellant: Shri Sakharam SableFor Respondent: Shri S. P. Walimbe
Section 143(3)Section 14A

…bsence of any exempt income, resort to the provisions of section 14A of the Act cannot be made. The various High Courts in catena of decisions held the same view and reference can be made to the following decisions :- (i) Redington (India) Ltd. vs. Addl. CIT, 392 ITR 633 (Mad); (ii) CIT vs. Celebrity Fashion Ltd., 428 ITR 470 (Mad); (iii) CIT vs. Chettinad Logistics Pvt. Ltd., 80 taxmann.com 221 (Mad) (Against which the SLP filed by the Department was dismissed by the Hon’ble Supreme Court in the case of CIT vs. Chettinad Logistics P. Ltd., 95 taxmann.com 250 (SC); (iv) CIT vs. Continuum Wind Energy (India) Pvt.…

Pr Commissioner of Income Tax-5 vs. M/S Novell Software Development (India) Pvt.Ltd

In the result, we do not find any merit in this appeal

ITA/271/2017HC Karnataka16 Jan 2021

Bench: ALOK ARADHE,R. NATARAJ

Section 14ASection 260Section 260ASection 40Section 9

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 16TH DAY OF JANUARY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY I.T.A. NO.271 OF 2017 BETWEEN: 1. PR. COMMISSIONER OF INCOME TAX-5 BMTC COMPLEX, KORAMANGALA BANGALORE. 2. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 5(1)(2), BANGALORE. ... APPELLANTS (BY SRI. T.N.C. SRIDHAR, ADV., FOR SRI. SANMATHI E.I. ADAV.,) AND: M/S. NOVELL SOFTWARE DEVELOPMENT (INDIA) PVT. LTD. 'LAUREL', BLOCK-D, 65/2 BAGMANE TECH PARK C.V. RAMAN NAGAR BYRASANDRA, BANGALORE-93. ... RESPONDENT (BY SRI…

Biocon Limited vs. The Deputy

In the result, the impugned order dated 30

ITA/416/2014HC Karnataka12 Jan 2021

Bench: ALOK ARADHE,R. NATARAJ

Section 10ASection 10BSection 14ASection 260Section 35

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 12TH DAY OF JANUARY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE NATARAJ RANGASWAMY I.T.A. NO.416 OF 2014 BETWEEN: BIOCON LIMITED 20TH KM, HOSUR ROAD ELECTRONICS CITY P.O. BANGALORE-560100 REP. HEREIN BY ITS DEPUTY GENERAL MANAGER TAX & COMPLIANCE MR. B. SHIVADUTT. .... APPELLANT (BY MR. SURYANARAYANA T, ADVOCATE) AND: 1. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(2), C.R. BUILDING QUEENS ROAD, BANGALORE-560001. 2. THE COMMISSIONER OF INCOME-TAX LTU, JSS TOWERS, 100 FEET RING ROAD BAN…

ACIT (Ltu), Chennai vs. Tamilnadu Petro Products Limited, Chennai

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

ITA 3296/CHNY/2019[2009-10]Status: DisposedITAT Chennai14 Oct 2020AY 2009-10

Bench: Shri V. Durga Rao & Shri S. Jayaramanआयकर अपील सं./I.T.A.No.3296/Chny/2019 ("नधा"रण वष" / Assessment Year: 2009-10) The Acit, Vs M/S. Tamilnadu Petroproducts Large Taxpayer Unit-2, Limited, Chennai – 34. Post Box No.9, Manali Express Highway, Manali, Chennai – 600 068. Pan: Aaact1295M (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri M. Srinivasa Rao, CITFor Respondent: Shri Saroj Kumar Parida, Advocate
Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘B’ BENCH, CHENNAI "ी वी दुगा" राव,"याियक सद"य एवं "ी एस जयरामन, लेखा सद"य के सम" BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.3296/CHNY/2019 ("नधा"रण वष" / Assessment Year: 2009-10) The ACIT, Vs M/s. Tamilnadu Petroproducts Large Taxpayer Unit-2, Limited, Chennai – 34. Post Box No.9, Manali Express Highway, Manali, Chennai – 600 068. PAN: AAACT1295M (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant by : Shri M. Srinivasa Rao, CIT ""यथ" क" ओर से/Respondent…

ACIT-8(1)(1), Mumbai vs. M/S.Netizen Engineering Private Limited, Mumbai

Appeal is dismissed

ITA 6584/MUM/2018[2013-14]Status: DisposedITAT Mumbai14 Oct 2020AY 2013-14

Bench: Shri S.S. Godara & Shri M.Balaganeshacit-8(1)(1) Vs. Netizen Engineering Room No.624, 6Th Floor Pvt.Ltd. Flat No.19& 20, 6Th Floor, Aaykar Bhawan, M.K.Road Mumbai-400 020 90, Manek Mahal, Veer Nariman Road, Churchgate Mumbai-400 020 Pan/Gir No.Aabcr7570C (Appellant) .. (Respondent)

Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL (VIRTUAL COURT), ”B” BENCH, MUMBAI BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER ACIT-8(1)(1) Vs. Netizen Engineering Room No.624, 6th Floor Pvt.Ltd. Flat No.19& 20, 6th Floor, Aaykar Bhawan, M.K.Road Mumbai-400 020 90, Manek Mahal, Veer Nariman Road, Churchgate Mumbai-400 020 PAN/GIR No.AABCR7570C (Appellant) .. (Respondent) Assessee by None Revenue by Ms. Kavita P. Kaushik, Sr.DR Date of Hearing 13/10/2020 Date of Pronouncement 14/10/2020 आदेश / O R D E R आदेश आदेश आदेश PER S.S.GODARA (J.M): This Revenue’s appeal for A.Y.2013-14 aris…

DCIT Circle-14()(1), Mumbai vs. M/S Asset Auto India Pvt. Ltd., Mumbai

In the result, appeal filed by the revenue is dismissed

ITA 2112/MUM/2019[2013-14]Status: DisposedITAT Mumbai11 Sept 2020AY 2013-14

Bench: Shri Saktijit Dey () & Shri N.K. Pradhan () Assessment Year: 2013-14 Dcit Circle- 14(1)(1) M/S. Asset Auto India Pvt. Ltd. Vs. 14/3, Union Park, Chembur, Mumbai 400074. Pan No. Aaeca0733F Appellant Respondent Revenue By : Shri Michael Jerald (Dr) Assessee By : None Last Date Of Hearing : 10/09/2020 Date Of Pronouncement : 11/09/2020

For Appellant: NoneFor Respondent: Shri Michael Jerald (DR)
Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A” MUMBAI BEFORE SHRI SAKTIJIT DEY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2013-14 DCIT Circle- 14(1)(1) M/s. Asset Auto India Pvt. Ltd. Vs. 14/3, Union Park, Chembur, Mumbai 400074. PAN No. AAECA0733F Appellant Respondent Revenue by : Shri Michael Jerald (DR) Assessee by : None Last Date of Hearing : 10/09/2020 Date of pronouncement : 11/09/2020 ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the revenue. The relevant assessment year is 2013-14. The appeal is directed against the order passed by the Commissioner o…

DCIT Corporate Circle 5(1), Chennai vs. Repco Home Finance P Ltd., Chennai

In the result, the appeal of Revenue in ITA no

ITA 2885/CHNY/2017[2013-14]Status: DisposedITAT Chennai17 Jun 2020AY 2013-14

Bench: Shri George Mathan & Shri Ramit Kochar

For Appellant: JCITFor Respondent: Shri M. Viswanathan, C.A
Section 143(3)Section 14ASection 36(1)Section 36(1)(va)Section 36(1)(viii)

…n, learned CIT(A) was pleased to delete entire disallowance of expenditure to the tune of ₹.4,02,500/- as was made by the A.O. , by following decisions of Hon’ble Jurisdictional High Court in the case of Redington (India) Ltd. v. Addl. CIT reported in (2017) 392 ITR 633(Madras), and of Co- ordinate Division Bench of the Chennai Tribunal in the case of ACIT v. :- 6 -: M.Baskaan in I.T.A. No. No.1717/Mds/2013 dated 31.07.2014 for ay: 2009-10. 5.2 Before the Bench during the course of hearing , Ld. D.R, at the outset, placed reliance on the assessment order passed by AO and drew our attention to the provisions o…

DCIT, Chennai vs. M/S. Svl Ltd., Chennai

ITA 3218/CHNY/2018[2014-15]Status: DisposedITAT Chennai30 Jan 2020AY 2014-15

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri. Gautam, AdvocateFor Respondent: Shr. Abani Kanta Nayam, CIT
Section 115JSection 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No.3167/CHNY/2018 "नधा"रण वष" /Assessment year : 2015-2016. M/s. SVL Limited, Vs. The Income Tax Officer, Shriram House, Corporate Ward 6(3) 1st floor, No.4, Burkit Road, Chennai. T. Nagar, Chennai 600 017. आयकर अपील सं./I.T.A. No.3218/CHNY/2018 "नधा"रण वष" /Assessment year : 2014-2015. Vs. The Assistant Commissioner M/s. SVL Limited, of Inco…

Svl Limited, Chennai vs. ITO, Corp Ward 6(3), Chennai

ITA 3167/CHNY/2018[2015-16]Status: DisposedITAT Chennai30 Jan 2020AY 2015-16

Bench: Shri George Mathan & Shri Inturi Rama Rao

For Appellant: Shri. Gautam, AdvocateFor Respondent: Shr. Abani Kanta Nayam, CIT
Section 115JSection 143(3)Section 14A

…आयकर अपील"य अ"धकरण, ’सी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : CHENNAI "ी जॉज" माथन, "या"यक सद"य एवं "ी इंटूर" रामा राव, लेखा सद"य के सम" BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No.3167/CHNY/2018 "नधा"रण वष" /Assessment year : 2015-2016. M/s. SVL Limited, Vs. The Income Tax Officer, Shriram House, Corporate Ward 6(3) 1st floor, No.4, Burkit Road, Chennai. T. Nagar, Chennai 600 017. आयकर अपील सं./I.T.A. No.3218/CHNY/2018 "नधा"रण वष" /Assessment year : 2014-2015. Vs. The Assistant Commissioner M/s. SVL Limited, of Inco…

M/S. Indian Ocean Garnet Sands Co. Pvt. Ltd., Tuticorin vs. ACIT, Circle - 1, Tuticorin

In the result, the appeals filed by the assessee in ITA Nos

ITA 2166/CHNY/2019[2015-16]Status: DisposedITAT Chennai21 Jan 2020AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos.2165 & 2166/Chny/2019. "नधा"रण वष" /Assessment Years : 2014-15 & 2015-2016. M/S. Indian Ocean Garnet Vs. The Assistant Commissioner Of Sands Company Pvt. Ltd, Income Tax, No.146, Palayamkottai Road, Circle -1, Tuticorin 628 003. Tuticorin. [Pan Aaaci 4083Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mrs. K. Hemalatha, C.AFor Respondent: Shri. A. Sundararajan, Addl. CIT
Section 143(3)Section 14ASection 234C

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘B ’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos.2165 & 2166/CHNY/2019. "नधा"रण वष" /Assessment years : 2014-15 & 2015-2016. M/s. Indian Ocean Garnet Vs. The Assistant Commissioner of Sands Company Pvt. Ltd, Income Tax, No.146, Palayamkottai Road, Circle -1, Tuticorin 628 003. Tuticorin. [PAN AAACI 4083Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant…

M/S. Indian Ocean Garnet Sands Co. Pvt. Ltd., Tuticorin vs. ACIT, Circle - 1, Tuticorin

In the result, the appeals filed by the assessee in ITA Nos

ITA 2165/CHNY/2019[2014-15]Status: DisposedITAT Chennai21 Jan 2020AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy] आयकर अपील सं./I.T.A. Nos.2165 & 2166/Chny/2019. "नधा"रण वष" /Assessment Years : 2014-15 & 2015-2016. M/S. Indian Ocean Garnet Vs. The Assistant Commissioner Of Sands Company Pvt. Ltd, Income Tax, No.146, Palayamkottai Road, Circle -1, Tuticorin 628 003. Tuticorin. [Pan Aaaci 4083Q] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mrs. K. Hemalatha, C.AFor Respondent: Shri. A. Sundararajan, Addl. CIT
Section 143(3)Section 14ASection 234C

…आयकर अपील"य अ"धकरण, ‘बी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL, ‘B ’ BENCH : CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" [BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER] आयकर अपील सं./I.T.A. Nos.2165 & 2166/CHNY/2019. "नधा"रण वष" /Assessment years : 2014-15 & 2015-2016. M/s. Indian Ocean Garnet Vs. The Assistant Commissioner of Sands Company Pvt. Ltd, Income Tax, No.146, Palayamkottai Road, Circle -1, Tuticorin 628 003. Tuticorin. [PAN AAACI 4083Q] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant…

Lakshmi Machine Works Ltd., Coimbatore vs. Addl.CIT, Coimbatore

In the result, appeal filed by assessee in ITA No

ITA 1387/CHNY/2017[2012-13]Status: DisposedITAT Chennai20 Jan 2020AY 2012-13

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा(रण वष( /Assessment Year: 2012-13 V. M/S.Lakshmi Machine Works Ltd., The Addl.Cit, Perianaickenpalayam, Corporate Range, S.R.K.V. Post, Coimbatore. Coimbatore-641 020. [Pan: Aaacl 5244 N ] (अपीलाथ+/Appellant) (,-यथ+/Respondent) : Mr. R.Vijayaraghavan, Adv. अपीलाथ+ क. ओर से/ Appellant By : Mr. M.Srinivasa Rao, Cit ,-यथ+ क. ओर से /Respondent By : 07.11.2019 सुनवाई क. तार"ख/Date Of Hearing : 20.01.2020 घोषणा क. तार"ख /Date Of Pronouncement आदेश / O R D E R Per Ramit Kochar:

For Appellant: Mr. M.Srinivasa Rao, CITFor Respondent: 07.11.2019
Section 143(2)Section 143(3)Section 14ASection 43(2)

…cannot exceed exempt income. The AO is directed to follow the aforesaid decision of Hon’ble Delhi :- 7 -: High Court. Reference is also drawn to decision of Hon’ble Madras High Court in the case of Redington (India) Limited v. Addl. CIT reported in (2017) 392 ITR 633(Mad.) and decision of Hon’ble Madras High Court in the case of CIT v. Chettinad Logistics Private Limited reported in (2017) 80 taxmann.com 221(Mad.), which are relevant to adjudicate the disallowance u/s 14A of the 1961 Act. Under these circumstances keeping in view factual matrix of the case, we are of the considered view that this matter nee…

M/S. Spml Infra Limited, Kolkata vs. DCIT, Circle - 8(2), Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1228/KOL/2018[2011-12]Status: DisposedITAT Kolkata17 Jan 2020AY 2011-12

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1228/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

For Appellant: Shri S.K. Tulsiyan, Advocate & Ms. Lata Goyal, ACAFor Respondent: Shri Radhey Shyam, CIT
Section 263

…of Rs. 2,03,752 made by the AO was in order. M/s SMPL Infra Ltd. ITA Nos. 1228 & 1211/Kol/2018 Assessment Year:2011-12 The Madras High Court judgment in the case of Redington (India) Ltd. vs. The Additional Commissioner of Income Tax, Company, Range-V [2017] 392 ITR 633 (Mad) (copy enclosed at page 72-75 of paper book), wherein it was held that: “15. The exemption extended to dividend income would relate only to the previous year when the income was earned and none other and consequently the expenditure incurred in connection therewith should also be dealt with in the same previous year. Thus, by application of…

DCIT, Circle - 8(2), Kolkata vs. M/S. Spml Infra Limited, Kolkata

In the result, the appeal of the assessee in ITA No

ITA 1211/KOL/2018[2011-12]Status: DisposedITAT Kolkata17 Jan 2020AY 2011-12

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1228/Kol/2018 ("नधा"रणवष" / Assessment Year:2011-12)

For Appellant: Shri S.K. Tulsiyan, Advocate & Ms. Lata Goyal, ACAFor Respondent: Shri Radhey Shyam, CIT
Section 263

…of Rs. 2,03,752 made by the AO was in order. M/s SMPL Infra Ltd. ITA Nos. 1228 & 1211/Kol/2018 Assessment Year:2011-12 The Madras High Court judgment in the case of Redington (India) Ltd. vs. The Additional Commissioner of Income Tax, Company, Range-V [2017] 392 ITR 633 (Mad) (copy enclosed at page 72-75 of paper book), wherein it was held that: “15. The exemption extended to dividend income would relate only to the previous year when the income was earned and none other and consequently the expenditure incurred in connection therewith should also be dealt with in the same previous year. Thus, by application of…

DCIT, Chennai vs. Shriram Epc Limited, Chennai

In the result, the appeal filed by the Revenue in ITA

ITA 2014/CHNY/2016[2012-13]Status: DisposedITAT Chennai08 Jan 2020AY 2012-13

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy]

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. A. Sundararajan, Addl. CIT
Section 143(3)

…4/16 :- 27 -: consideration. Now the law is settled to the extent that in the absence of any exempt income resort to provisions of Section 14A of the Act cannot be made. Reference can be made to the following decisions Redington (India) Ltd vs. Addl. CIT, 392 ITR 633, (i) (ii) CIT vs. Chettinad Logistics P. Ltd, 248 Taxman 55. Since the decision of the ld. CIT(A) is in consonance with the ratio laid down by the above decisions, we do not find any reason to interfere with the order of the ld. CIT(A). Grounds of appeal 2.5 to 2.7 raised by the Revenue stand dismissed. 46. Ground No.2.8 challenges the decisio…

DCIT, Chennai vs. Shriram Epc Limited, Chennai

In the result, the appeal filed by the Revenue in ITA

ITA 2013/CHNY/2016[2011-12]Status: DisposedITAT Chennai08 Jan 2020AY 2011-12

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy]

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. A. Sundararajan, Addl. CIT
Section 143(3)

…4/16 :- 27 -: consideration. Now the law is settled to the extent that in the absence of any exempt income resort to provisions of Section 14A of the Act cannot be made. Reference can be made to the following decisions Redington (India) Ltd vs. Addl. CIT, 392 ITR 633, (i) (ii) CIT vs. Chettinad Logistics P. Ltd, 248 Taxman 55. Since the decision of the ld. CIT(A) is in consonance with the ratio laid down by the above decisions, we do not find any reason to interfere with the order of the ld. CIT(A). Grounds of appeal 2.5 to 2.7 raised by the Revenue stand dismissed. 46. Ground No.2.8 challenges the decisio…

DCIT, Chennai vs. Shriram Epc Limited, Chennai

In the result, the appeal filed by the Revenue in ITA

ITA 2012/CHNY/2016[2010-11]Status: DisposedITAT Chennai08 Jan 2020AY 2010-11

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy]

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. A. Sundararajan, Addl. CIT
Section 143(3)

…4/16 :- 27 -: consideration. Now the law is settled to the extent that in the absence of any exempt income resort to provisions of Section 14A of the Act cannot be made. Reference can be made to the following decisions Redington (India) Ltd vs. Addl. CIT, 392 ITR 633, (i) (ii) CIT vs. Chettinad Logistics P. Ltd, 248 Taxman 55. Since the decision of the ld. CIT(A) is in consonance with the ratio laid down by the above decisions, we do not find any reason to interfere with the order of the ld. CIT(A). Grounds of appeal 2.5 to 2.7 raised by the Revenue stand dismissed. 46. Ground No.2.8 challenges the decisio…