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 367,154 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

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1062/CHNY/2016[2011-12]Status: DisposedITAT Chennai21 Jan 2022AY 2011-12

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

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…allowance u/r 8D(2)(iii) was to be computed only by considering those investments which have yielded exempt income during the year. These propositions are duly supported by the decision of Hon’ble Madras High Court in the case of Redington India Private Ltd. (392 ITR 633) as well as another decision of Hon’ble Court in CIT V/s Chettinad Logistics Private Ltd. (95 Taxman.com 250). 21. The assessee’s plea that the investments were strategic investment and therefore, no disallowance was to be computed, is to be disregarded in the light of decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1061/CHNY/2016[2010-11]Status: DisposedITAT Chennai21 Jan 2022AY 2010-11

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

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…allowance u/r 8D(2)(iii) was to be computed only by considering those investments which have yielded exempt income during the year. These propositions are duly supported by the decision of Hon’ble Madras High Court in the case of Redington India Private Ltd. (392 ITR 633) as well as another decision of Hon’ble Court in CIT V/s Chettinad Logistics Private Ltd. (95 Taxman.com 250). 21. The assessee’s plea that the investments were strategic investment and therefore, no disallowance was to be computed, is to be disregarded in the light of decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1060/CHNY/2016[2009-10]Status: DisposedITAT Chennai21 Jan 2022AY 2009-10

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

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…allowance u/r 8D(2)(iii) was to be computed only by considering those investments which have yielded exempt income during the year. These propositions are duly supported by the decision of Hon’ble Madras High Court in the case of Redington India Private Ltd. (392 ITR 633) as well as another decision of Hon’ble Court in CIT V/s Chettinad Logistics Private Ltd. (95 Taxman.com 250). 21. The assessee’s plea that the investments were strategic investment and therefore, no disallowance was to be computed, is to be disregarded in the light of decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s…

J.K.Fenner (India) Limited, Chennai vs. JCIT, Madurai

Appeal stand dismissed whereas the assessee’s appeal stands partly allowed for statistical purposes

ITA 1059/CHNY/2016[2008-09]Status: DisposedITAT Chennai21 Jan 2022AY 2008-09

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

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri M. Murali, Ld. CIT-DR
Section 14ASection 32(2)

…allowance u/r 8D(2)(iii) was to be computed only by considering those investments which have yielded exempt income during the year. These propositions are duly supported by the decision of Hon’ble Madras High Court in the case of Redington India Private Ltd. (392 ITR 633) as well as another decision of Hon’ble Court in CIT V/s Chettinad Logistics Private Ltd. (95 Taxman.com 250). 21. The assessee’s plea that the investments were strategic investment and therefore, no disallowance was to be computed, is to be disregarded in the light of decision of Hon’ble Supreme Court in the case of Maxopp Investment Limited V/s…

Robust Hotels Pvt. Ltd., Chennai vs. ACIT, Chennai

In the result appeal filed by the assessee is partly

ITA 24/CHNY/2017[2011-12]Status: DisposedITAT Chennai12 Jan 2022AY 2011-12

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.23 & 24/Chny/2017 ("नधा"रणवष" / Assessment Years: 2010-11 & 2011-12) M/S. Robust Hotels P.Ltd. Vs The Assistant Commissioner Of 365, Anna Salai, Teynampet, Income Tax, Chennai-600 018. Corporate Circle-5(4), Chennai-600 034. Pan: Aadcr 5418B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. AR V. Sreenivasan, Addl.CITFor Respondent: 02.11.2021
Section 36(1)(iii)Section 40

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी वी. दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम$ BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.Nos.23 & 24/Chny/2017 ("नधा"रणवष" / Assessment Years: 2010-11 & 2011-12) M/s. Robust Hotels P.Ltd. Vs The Assistant Commissioner of 365, Anna Salai, Teynampet, Income Tax, Chennai-600 018. Corporate Circle-5(4), Chennai-600 034. PAN: AADCR 5418B (अपीलाथ"/Appellant) (""यथ"/Respondent) : Mr. S.Sridhar, Advocate अपीलाथ"क"ओरसे/ Appellant by : Mr. AR V. S…

Robust Hotels Pvt. Ltd., Chennai vs. ACIT, Chennai

In the result appeal filed by the assessee is partly

ITA 23/CHNY/2017[2010-11]Status: DisposedITAT Chennai12 Jan 2022AY 2010-11

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.23 & 24/Chny/2017 ("नधा"रणवष" / Assessment Years: 2010-11 & 2011-12) M/S. Robust Hotels P.Ltd. Vs The Assistant Commissioner Of 365, Anna Salai, Teynampet, Income Tax, Chennai-600 018. Corporate Circle-5(4), Chennai-600 034. Pan: Aadcr 5418B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr. AR V. Sreenivasan, Addl.CITFor Respondent: 02.11.2021
Section 36(1)(iii)Section 40

…आयकर अपील"य अ"धकरण, ‘ए’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘A’ BENCH, CHENNAI "ी वी. दुगा" राव, "या"यक सद"य एवं "ी जी. मंजुनाथ, लेखा सद"य के सम$ BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER आयकरअपीलसं./I.T.A.Nos.23 & 24/Chny/2017 ("नधा"रणवष" / Assessment Years: 2010-11 & 2011-12) M/s. Robust Hotels P.Ltd. Vs The Assistant Commissioner of 365, Anna Salai, Teynampet, Income Tax, Chennai-600 018. Corporate Circle-5(4), Chennai-600 034. PAN: AADCR 5418B (अपीलाथ"/Appellant) (""यथ"/Respondent) : Mr. S.Sridhar, Advocate अपीलाथ"क"ओरसे/ Appellant by : Mr. AR V. S…

Saalim Shoes Pvt. Ltd., Chennai vs. DCIT Corporate Circle 6(1), Chennai

In the result, appeals filed by the assessee for both assessment years are allowed

ITA 1526/CHNY/2019[2013-14]Status: DisposedITAT Chennai05 Jan 2022AY 2013-14

Bench: Shri V.Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.1525 & 1526/Chny/2019 ("नधा"रणवष" / Assessment Years: 2014-15 & 2013-14) M/S. Saalim Shoes Pvt. Ltd. Vs The Deputy Commissioner Of 4/2, 2Nd Floor, Atkinson Place, Income Tax, Venkatachalamsalai, Vepery, Corporate Circle-6(1) Chennai-600 007. Chennai-600 034. Pan: Aajcs 9889B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Ms. R.Anita, Addl.CITFor Respondent: 21.12.2021
Section 139(1)Section 143(3)Section 14ASection 36

…e 8D of I.T. Rules, 1962. 10. At the time of hearing, the learned DR submitted that the issue is covered in favour of the assessee by the decision of 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), where it was categorically held that in absence of exempt income, no disallowance could be made towards expenses relatable to said exempt income. 11. We find that the Hon'ble Jurisdictional High Court of Madras in the case of M/s. Redington India Ltd. Vs. Addl.CIT (supra) had considered identical issue and held that in absence…

Saalim Shoes Pvt. Ltd., Chennai vs. DCIT Corporate Circle 6(1), Chennai

In the result, appeals filed by the assessee for both assessment years are allowed

ITA 1525/CHNY/2019[2014-15]Status: DisposedITAT Chennai05 Jan 2022AY 2014-15

Bench: Shri V.Durga Rao & Shri G. Manjunathaआयकरअपीलसं./I.T.A.Nos.1525 & 1526/Chny/2019 ("नधा"रणवष" / Assessment Years: 2014-15 & 2013-14) M/S. Saalim Shoes Pvt. Ltd. Vs The Deputy Commissioner Of 4/2, 2Nd Floor, Atkinson Place, Income Tax, Venkatachalamsalai, Vepery, Corporate Circle-6(1) Chennai-600 007. Chennai-600 034. Pan: Aajcs 9889B (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Ms. R.Anita, Addl.CITFor Respondent: 21.12.2021
Section 139(1)Section 143(3)Section 14ASection 36

…e 8D of I.T. Rules, 1962. 10. At the time of hearing, the learned DR submitted that the issue is covered in favour of the assessee by the decision of 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), where it was categorically held that in absence of exempt income, no disallowance could be made towards expenses relatable to said exempt income. 11. We find that the Hon'ble Jurisdictional High Court of Madras in the case of M/s. Redington India Ltd. Vs. Addl.CIT (supra) had considered identical issue and held that in absence…

Metal & Scraps Traders P Ltd., Chennai vs. DCIT Corporate Circle 4(1), Chennai

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

ITA 1322/CHNY/2018[2014-15]Status: DisposedITAT Chennai05 Jan 2022AY 2014-15

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita No.1322/Chny/2018 िनधा"रण वष" /Assessment Year: 2014-15 M/S.Metal & Scraps Traders Pvt. Ltd., V. The Dy. Commissioner Of C/O.V.Ravichandran, Income Tax, 49 (Old No.24), Sixth Main Road, Corporate Circle-4(1), R.A.Puram, Chennai-600 028. Chennai. [Pan: Aaccm 0313 K] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Mrs.R.Anita, Addl.CIT
Section 143(3)Section 14A

…s not earned exempt income for the year under consideration and thus it appears that this issue :: 3 :: is covered in favour of the assessee by the decision of the Hon’ble Madras High Court in the case of M/s.Redington India Ltd. v. ACIT reported in (2017) 77 Taxmann.com 257 (Mad). We find that the Hon’ble jurisdictional High Court of Madras has considered an identical issue in the case of M/s.Redington India Ltd. v. ACIT (supra), wherein, after considering the fact that the assessee has not earned any exempt income for the relevant period held that in the absence of exempt income no disallowance can be made…

ACIT, Circle-15(1), New Delhi vs. Lemon Tree Hotel Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1450/DEL/2018[2014-15]Status: DisposedITAT Delhi04 Jan 2022AY 2014-15

Bench: Shri Kul Bharat & Shri P.K.Kedia[Assessment Year : 2014-15] Acit, Vs Lemon Tree Hotels Ltd., Circle-15(1), B-6/17, Safderjung Enclave, New Delhi. New Delhi-110029. Pan-Aacck1698R Appellant Respondent Appellant By Ms. Princy Singhla, Sr.Dr Respondent By Shri Mukal Baga, Adv. & Shri Vikas Singh, Ca Date Of Hearing 29.11.2021 Date Of Pronouncement 04.01.2022

Section 115JSection 143(1)Section 143(3)Section 14A

…ated that the invocation of Rule 80 was mandatory and the computation for the purposes of deduction 14A was in accordance with the provisions therein. 4.1.2 The aforesaid decisions quoted by the appellant namely Cheminvest Ltd. and also Redington (India) Ltd. 392 ITR 633 have been perused. It is also seen that the recent Delhi Tribunal decision on a same issue has also held clearly that where the assessee is not earning any exempt income, no disallowance can be made. These are Hon'ble ITAT Delhi Bench in the case of Sunrays Properties & Investment Co. Pvt. Ltd. Vs. JCIT ITA No. 353/De1/2014 Dt. 17.02.2017 and in…

Shree Balaji Engicons Pvt. Ltd, Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

ITA 195/CTK/2019[204-15]Status: DisposedITAT Cuttack15 Dec 2021

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ, कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH, CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI MANISH BORAD, AM आयकर अपीऱ सं./ITA Nos.193/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s Rawats-Balaji(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AABAR 9061 J TAN No. : BBNR01647 C AND आयकर अपीऱ सं./ITA Nos.194/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s SBEPL-GRIL(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AAFAS 2639 R TAN No. : BBNS04348 B AND आयकर अपीऱ सं./ITA Nos.195/CTK/2019 (नििाारण वषा / Asse…

M/S- Sbep-Gril(Joint Venture), Jharsuguda vs. Principal CIT, Sambalpur

In the result, appeal of the assessee in ITA No

ITA 194/CTK/2019[2014-15]Status: DisposedITAT Cuttack15 Dec 2021AY 2014-15

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ, कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH, CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI MANISH BORAD, AM आयकर अपीऱ सं./ITA Nos.193/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s Rawats-Balaji(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AABAR 9061 J TAN No. : BBNR01647 C AND आयकर अपीऱ सं./ITA Nos.194/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s SBEPL-GRIL(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AAFAS 2639 R TAN No. : BBNS04348 B AND आयकर अपीऱ सं./ITA Nos.195/CTK/2019 (नििाारण वषा / Asse…

M/S- Rawat Balaji (Joint Venture), Jharsuguda vs. Prilncipal, CIT, Sambalpur

In the result, appeal of the assessee in ITA No

ITA 193/CTK/2019[204-15]Status: DisposedITAT Cuttack15 Dec 2021

Bench: Shri C.M. Garg, Jm & Shri Manish Borad, Am आयकर अपीऱ सं./Ita Nos.193/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Rawats-Balaji(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aabar 9061 J Tan No. : Bbnr01647 C & आयकर अपीऱ सं./Ita Nos.194/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) M/S Sbepl-Gril(Jv), Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aafas 2639 R Tan No. : Bbns04348 B & आयकर अपीऱ सं./Ita Nos.195/Ctk/2019 (नििाारण वषा / Assessment Year :2014-2015) Shree Balaji Engicons Pvt Ltd Vs Pr.Cit, Sambalpur At/Po-Belpahar(Rs), Dist : Jharsuguda Pan No. : Aagcs 4292 P Tan No. : Bbns00091 A (अऩीलाथी /Appellant) (प्रत्यथी / Respondent) .. ननधाारिती की ओर से /Assessee By : Shri Satyanarayan Agarwal, Ar िाजस्व की ओर से /Revenue By : Shri M.K.Gautam, Citdr सुनवाई की तािीख / Date Of Hearing : 26/10/2021 घोषणा की तािीख/Date Of Pronouncement : 23/12/2021 आदेश / O R D E R Per Bench: These Three Appeals Have Been Filed By Three Different Assessees Against The Order Passed By The Pr.Cit, Sambalpur, U/S.263 Of The Act, All Dated 30.03.2019 For The Assessment Year 2014-2015. 2

For Appellant: Shri Satyanarayan Agarwal, ARFor Respondent: Shri M.K.Gautam, CITDR
Section 143(3)Section 14ASection 263Section 80I

…आयकर अपीऱीय अधिकरण, कटक न्यायपीठ, कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH, CUTTACK BEFORE SHRI C.M. GARG, JM & SHRI MANISH BORAD, AM आयकर अपीऱ सं./ITA Nos.193/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s Rawats-Balaji(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AABAR 9061 J TAN No. : BBNR01647 C AND आयकर अपीऱ सं./ITA Nos.194/CTK/2019 (नििाारण वषा / Assessment Year :2014-2015) M/s SBEPL-GRIL(JV), Vs Pr.CIT, Sambalpur At/Po-Belpahar(RS), Dist : Jharsuguda PAN No. : AAFAS 2639 R TAN No. : BBNS04348 B AND आयकर अपीऱ सं./ITA Nos.195/CTK/2019 (नििाारण वषा / Asse…

The Deputy Commissioner of Income Tax, Circle-1, Kakinada vs. East Coast Imports & Exports, Kakinada

In the result, appeal of the revenue as well as the cross objections of the assessee are dismissed

ITA 79/VIZ/2021[2012-13]Status: DisposedITAT Visakhapatnam17 Sept 2021AY 2012-13

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.79/Viz/2021 (निर्धारण वर्ा/Assessment Year:2012-13) Dy.Commissioner Of Income Tax Vs. M/S East Coast Imports & Circle-1 Exports Kakinada D.No.67-15-32, Office No.1 Nagamallithota Junction Kakinada [Pan : Aacfe2078A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.49/Viz/2021 (Arising Out Of I.T.A. No.79/Viz/2021) M/S East Coast Imports & Exports Vs. Dy.Commissioner Of Income Tax D.No.67-15-32, Office No.1 Circle-1 Nagamallithota Junction Kakinada Kakinada [Pan : Aacfe2078A] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) रधजस्व की ओर से /Revenue By : Shri V.Srinivasa Rao, Dr निर्धाऩरती की ओरसे / Assessee By : Shri G.V.N.Hari, Ar सुिवधई की तधरीख / Date Of Hearing : 08.09.2021 घोर्णध की तधरीख/Date Of Pronouncement : 17.09.2021 आदेश /O R D E R Per Bench : This Appeal Is Filed By The Assessee Against The Order Of The Commissioner Of Income Tax (Appeals) [Cit(A)]-2, Visakhapatnam In Ita

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri V.Srinivasa Rao, DR

…आयकर अपीलीय अधिकरण, धिशाखापटणम पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM (through web-based video conferencing platform) श्री एन के चौिरी,न्याधयक सदस्य एिं श्री धड.एस .सुन्दर धसंह, लेखा सदस्य के समक्ष BEFORE SHRI N.K.CHOUDHRY, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON’BLE ACCOUNTANT MEMBER आयकर अपील सं./I.T.A.No.79/Viz/2021 (निर्धारण वर्ा/Assessment Year:2012-13) Dy.Commissioner of Income Tax Vs. M/s East Coast Imports & Circle-1 Exports Kakinada D.No.67-15-32, Office No.1 Nagamallithota Junction Kakinada [PAN : AACFE2078A] (अपीलार्थी/ Appellant) (प्रत्य…

The Deputy Commissioner of Income Tax, Circle-3(1), Visakhapatnam vs. Devi Fisheries Limited, Visakhapatnam

In the result, appeal of the Revenue stands dismissed

ITA 39/VIZ/2021[2017-18]Status: DisposedITAT Visakhapatnam08 Sept 2021AY 2017-18

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: NoneFor Respondent: Shri B.Satyanarayana Raju, Sr.DR
Section 10(34)Section 14A

…the case. This can't be a ground for disallowance without establishing nexus with the investment and exempt income, there can't be any disallowance u/s.14A r.w.Rule 8D of the Rules. 4.1.5 The Hon'ble Madras High Court in the case of Redington (India) Limited(392 ITR 633) held that "earning exempt income is a sine quo non in 14A." The Hon'ble Court also held that "wherever deemed income is earned then only the provision of section 14A is applicable on the basis of 'Matching concept' 4.1.6 In the case of Chettinad Logistics (P.) Ltd (80 Taxmann.com 221), the Hon'ble Court has held that "Rule 8D (M/s. Devi Fisheri…

The Deputy Commissioner of Income Tax, Circle-3(1), Visakhapatnam vs. Srinivasa Ferro Alloys Limited, Visakhapatnam

In the result, appeal of the Revenue stands dismissed

ITA 36/VIZ/2021[2012-13]Status: DisposedITAT Visakhapatnam08 Sept 2021AY 2012-13

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

For Appellant: Shri P.S. Raju, CAFor Respondent: Shri B.Satyanarayana Raju, Sr.DR
Section 14ASection 263

…IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM (Through web-based video conferencing platform) BEFORE SHRI N.K. CHOUDHRY, HON’BLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER I.T.A. No. 36/VIZ/2021 (Asst. Year :2012-13) DCIT, Circle-3(1), Vs. M/s. Srinivasa Ferro Visakhapatnam. Alloys Ltd., MIG-25, Seethammadhara, NE Layout, Visakhapatnam. PAN No. AADCS 1439 B (Appellant) (Respondent) Assessee by : Shri P.S. Raju, CA. Department by : Shri B.Satyanarayana Raju, Sr.DR Date of hearing : 18/08/2021. Date of pronouncement : 08/09/2021. O R D E R PER D.S. SUNDER SING…

ACIT Corporate Circle 6(1), Chennai vs. M/S, Shriram City Union Finance Co. Ltd., Chennai

In the result, appeals filed by the assessee and revenue

ITA 1298/CHNY/2019[2014-15]Status: DisposedITAT Chennai08 Sept 2021AY 2014-15

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.1251/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) Shriram City Union Finance Ltd. Vs The Deputy Commissioner Of Mookambika Complex, Income Tax, No.4, Lady Desika Road, Mylapore, Corporate Circle-6(1) Chennai-600 004. Chennai-34. Pan: Aaacs 7703H (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.1298/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) The Deputy Commissioner Of Income Vs Shriram City Union Finance Tax, Ltd. Corporate Circle-6(1) Mookambika Complex, Chennai-34. No.4, Lady Desika Road, Mylapore, Chennai-600 004. Pan: Aaacs 7703H (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.Abani Kanta Nayak, CIT &
Section 115JSection 45I

…record, we find that issue of disallowance of expenses u/s.14A r.w.r 8D of the I.T.Rules, 1962, when Nil exempt income earned for the relevant assessment year is no longer res integra. The Hon’ble Madras High Court in the case of Redington India Pvt.Ltd., 392 ITR 633, had considered an identical issue and after considering Board Circular No.5 of 2014 dated 11.02.2014 held that where there is no exempt income in relevant year, there cannot be disallowance of expenditure u/s.14A of the Act. The Hon'ble Supreme Court has considered an identical issue and dismissed SLP filed by revenue against Hon’ble Madras Hi…

Shriram City Union Finance Limited, Chennai vs. DCIT Corporate Circle 6(1), Chennai

In the result, appeals filed by the assessee and revenue

ITA 1251/CHNY/2019[2014-15]Status: DisposedITAT Chennai08 Sept 2021AY 2014-15

Bench: Shri V.Durga Rao & Shri G.Manjunathaआयकरअपीलसं./I.T.A.No.1251/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) Shriram City Union Finance Ltd. Vs The Deputy Commissioner Of Mookambika Complex, Income Tax, No.4, Lady Desika Road, Mylapore, Corporate Circle-6(1) Chennai-600 004. Chennai-34. Pan: Aaacs 7703H (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./I.T.A.No.1298/Chny/2019 ("नधा"रणवष" / Assessment Year: 2014-15) The Deputy Commissioner Of Income Vs Shriram City Union Finance Tax, Ltd. Corporate Circle-6(1) Mookambika Complex, Chennai-34. No.4, Lady Desika Road, Mylapore, Chennai-600 004. Pan: Aaacs 7703H (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.Abani Kanta Nayak, CIT &
Section 115JSection 45I

…record, we find that issue of disallowance of expenses u/s.14A r.w.r 8D of the I.T.Rules, 1962, when Nil exempt income earned for the relevant assessment year is no longer res integra. The Hon’ble Madras High Court in the case of Redington India Pvt.Ltd., 392 ITR 633, had considered an identical issue and after considering Board Circular No.5 of 2014 dated 11.02.2014 held that where there is no exempt income in relevant year, there cannot be disallowance of expenditure u/s.14A of the Act. The Hon'ble Supreme Court has considered an identical issue and dismissed SLP filed by revenue against Hon’ble Madras Hi…

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Aquamall Water Solutions Limited, Hyderabad

In the result, both the appeals of the revenue are dismissed in above terms

ITA 2302/HYD/2018[2015-16]Status: DisposedITAT Hyderabad30 Aug 2021AY 2015-16

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V. RaghuramFor Respondent: Shri Rohit Mujumdar
Section 143(3)Section 14ASection 14A(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 2301 & 2302/H/2018 Assessment Year: 2014-15 & 2015-16 Dy. Commissioner of Vs. Aquamall Water Income-tax, Circle – 1(1), Solutions Ltd., Hyderabad. Hyderabad. PAN – AADCA 6241M (Appellant) (Respondent) Revenue by: Shri Rohit Mujumdar Assessee by: Shri A.V. Raghuram Date of hearing: 12/08/2021 Date of pronouncement: 30/08/2021 O R D E R PER L.P. SAHU, A.M.: Both these appeals filed by the Revenue are directed against…

Dy. Commissioner of Income Tax, Circle-1(1), Hyderabad vs. Aquamall Water Solutions Limited, Hyderabad

In the result, both the appeals of the revenue are dismissed in above terms

ITA 2301/HYD/2018[2014-15]Status: DisposedITAT Hyderabad30 Aug 2021AY 2014-15

Bench: Smt. P. Madhavi Devi & Shri Laxmi Prasad Sahu

For Appellant: Shri A.V. RaghuramFor Respondent: Shri Rohit Mujumdar
Section 143(3)Section 14ASection 14A(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos. 2301 & 2302/H/2018 Assessment Year: 2014-15 & 2015-16 Dy. Commissioner of Vs. Aquamall Water Income-tax, Circle – 1(1), Solutions Ltd., Hyderabad. Hyderabad. PAN – AADCA 6241M (Appellant) (Respondent) Revenue by: Shri Rohit Mujumdar Assessee by: Shri A.V. Raghuram Date of hearing: 12/08/2021 Date of pronouncement: 30/08/2021 O R D E R PER L.P. SAHU, A.M.: Both these appeals filed by the Revenue are directed against…