REI Agro Ltd. v. DCIT

144 ITD 141Income Tax Appellate Tribunal2013#221 most cited

What is REI Agro Ltd. v. DCIT authority for?

Disallowance under Section 14A read with Rule 8D applies only to investments that have yielded exempt income in the year under consideration.

346

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

REI Agro Ltd v DCIT · Section 14A disallowance · Rule 8D · exempt income · dividend yielding investments · non-yielding investments · expenditure disallowance · Rule 8D application · Section 115JB · exempt income computation

Also reported as

35 Taxmann.com 404160 TTJ 107144 ITR 141

Sections most often in play

Section 14ASection 115JBSection 250Section 143(3)Section 8DSection 142(1)Section 143(2)Section 37(1)

Issues it is cited on

disallowance under section 14adisallowance u/s 14asection 14asection 10previous yearcompanysection 14indiatotal incomepersonbusinessinterest

Judgments citing REI Agro Ltd. v. DCIT

Crawford Plantation Pvt Ltd., Kolkata vs. ITO, Ward-7(4), Kolkata

In the result, the appeal of the assessee is allowed

ITA 1538/KOL/2016[2012-13]Status: DisposedITAT Kolkata30 Nov 2016AY 2012-13

Bench: Shri M. Balaganesh, Am & Shri S. S. Viswanethra Ravi, Jm]

For Appellant: N o n eFor Respondent: Md. Ghayas Uddin, JCIT, Sr. DR
Section 143(3)Section 14A

…1 Crawford Plantation Pvt. Ltd, AY 2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA [Before Shri M. Balaganesh, AM & Shri S. S. Viswanethra Ravi, JM] I.T.A No. 1538/Kol/2016 Assessment Year: 2012-13 Crawford Plantation Pvt. Ltd. Vs. Income-tax Officer, Ward-7(4), Kolkata. (PAN: AABCC0331Q) (Appellant) (Respondent) Date of hearing: 21.11.2016 Date of pronouncement: 30.11.2016 For the Appellant: N o n e For the Respondent: Md. Ghayas Uddin, JCIT, Sr. DR ORDER Per Shri M. Balaganesh, AM: This appeal by assessee is arising out of order of CIT(A)-3, Kolkata vide Appeal No. 2117/CIT(A)-3/W-7(4)/…

Mirah Hospitality & Food Solutons P.Ltd, Mumbai vs. ACIT Cen Cir 14, Mumbai

In the result, appeal of the assessee is allowed for statistical purposes

ITA 7001/MUM/2012[2009-10]Status: DisposedITAT Mumbai26 Oct 2016AY 2009-10

Bench: Shri D. Karunakara Rao & Shri Ravish Sood

For Appellant: Shri Hiro RaiFor Respondent: Shri N.P. Singh, CIT-DR
Section 132Section 143(3)Section 14ASection 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER I.T.A. No.7001/M/2012 (Assessment Year: 2009-2010) I.T.A. No.7002/M/2012 (Assessment Year: 2010-2011) I.T.A. No.7010/M/2012 (Assessment Year: 2008-2009) फनाभ/ Mirah Hospitality & Food ACIT, Central Circle-14, Pratishta Bhavan, 10 th Floor, Solutions Pvt Ltd., Vs. 317/318, Parvati Industrial Mumbai – 20. Estate, Sunmill Compound, Lower Parel (W), Mumbai-13. स्थामी रेखा सं./ PAN : AABCH0203Q (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) अऩीराथी की ओय से / Appellant by : Sh…

DCIT, Circle-6, Kolkata vs. Uco Bank, Kolkata

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

ITA 1281/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 36(1)(viia)

…vidend bearing investments should be considered for working out the disallowance, if any, u/s 14A read with Rule 8D for which he placed reliance on the decision of the co-ordinate bench of this tribunal in the case of R.E.I.Agro Ltd vs DCIT reported in (2013) 144 ITD 141 (Kol Trib). 3.2. In response to this, the ld DR argued that the provisions of section 14A of the Act are indeed applicable to stock in trade and placed reliance on the decision of the co-ordinate bench of this tribunal in the case of DCIT vs Teenlok Advisory Services (P) Ltd reported in (2016) 159 ITD 991 (Kolkata Trib) , which in turn placed re…

Uco Bank, Kolkata vs. DCIT, Circle -6, Kolkata

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

ITA 1202/KOL/2012[2008-2009]Status: DisposedITAT Kolkata05 Oct 2016AY 2008-2009

Bench: Shri M. Balaganesh, Am & Shri S.S. Viswanethra Ravi, Jm]

For Appellant: S/Shri D.S.Damle & Akkal Dudhwewala, FCAFor Respondent: Shri G. Mallikarjuna, CIT, DR
Section 143(3)Section 36(1)(viia)

…vidend bearing investments should be considered for working out the disallowance, if any, u/s 14A read with Rule 8D for which he placed reliance on the decision of the co-ordinate bench of this tribunal in the case of R.E.I.Agro Ltd vs DCIT reported in (2013) 144 ITD 141 (Kol Trib). 3.2. In response to this, the ld DR argued that the provisions of section 14A of the Act are indeed applicable to stock in trade and placed reliance on the decision of the co-ordinate bench of this tribunal in the case of DCIT vs Teenlok Advisory Services (P) Ltd reported in (2016) 159 ITD 991 (Kolkata Trib) , which in turn placed re…

DCIT, Cir-6, Kolkata vs. West Bengal Infrastructure Development Finance Corporation Ltd., Kolkata

In the result, the appeal of the Revenue is dismissed

ITA 296/KOL/2014[2010-2011]Status: DisposedITAT Kolkata04 Oct 2016AY 2010-2011

Bench: Shri P.M. Jagtap & Shri K. Narasimha Chary

Section 14ASection 8D(2)(iii)

…D as computed by the Assessing Officer was challenged by the assessee in the appeal filed before the ld. CIT(Appeals), who held by relying on the decision of the Tribunal in the case of REI Agro Limited, Kolkata –vs.- DCIT in ITA No. 1331/KOL/2011 reported in 144 ITD 141 (Calcutta) that the disallowance under section 14A by applying Rule 8D has to be worked out by taking into consideration not all the investments but only those investments, which have given rise to exempt income during the relevant year. Accordingly, he directed the Assessing Officer to re-compute the I.T.A. No. 296/KOL./2014 Assessment year: 20…

DCIT, Circle - 8, Kolkata vs. M/S. Tata Steel Processing & Distribution Limited, Kolkata

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

ITA 379/KOL/2012[2008-09]Status: DisposedITAT Kolkata21 Sept 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 143(2)Section 143(3)Section 40

…upra) and held that interest on loan sanctioned for business projects do not form part of calculation of disallowance under Rule 8D(2)(ii). Reliance is further placed on the decision of the Hon'ble Kolkata Tribunal in the case of REI Agro Ltd. vs DCIT [2013] 144 ITD 141 (Kolkata Trib.) [copy enclosed as Annexure 10- refer page nos. 55 to 61 of the written submission]. In this assessee had incurred interest expenditure on loans taken for business Purposes. The AO invoked Rule 8D and made disallowance under 2nd and 3rd limbs. The Hon’ble Tribunal made the following observations: “Rule 8D(2) has three sub-parts. Th…

Tata Steel Processing and Distribution Ltd., Kolkata vs. DCIT, Circle - 8, Kolkata

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

ITA 303/KOL/2012[2008-09]Status: DisposedITAT Kolkata21 Sept 2016AY 2008-09

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 143(2)Section 143(3)Section 40

…upra) and held that interest on loan sanctioned for business projects do not form part of calculation of disallowance under Rule 8D(2)(ii). Reliance is further placed on the decision of the Hon'ble Kolkata Tribunal in the case of REI Agro Ltd. vs DCIT [2013] 144 ITD 141 (Kolkata Trib.) [copy enclosed as Annexure 10- refer page nos. 55 to 61 of the written submission]. In this assessee had incurred interest expenditure on loans taken for business Purposes. The AO invoked Rule 8D and made disallowance under 2nd and 3rd limbs. The Hon’ble Tribunal made the following observations: “Rule 8D(2) has three sub-parts. Th…

DCIT, Circle - 8, Kolkata vs. M/S. Tata Ryerson Limited, Kolkata

In the result, both appeals of Revenue are dismissed and that of assessee’s appeal is partly allowed for statistical purpose and CO of assessee is dismissed as infructuous

ITA 1124/KOL/2010[2006-07]Status: DisposedITAT Kolkata21 Sept 2016AY 2006-07

Bench: Shri Waseem Ahmed & Shri K.Narasimha Charyassessment Year:2006-07

Section 143(2)Section 143(3)Section 40

…upra) and held that interest on loan sanctioned for business projects do not form part of calculation of disallowance under Rule 8D(2)(ii). Reliance is further placed on the decision of the Hon'ble Kolkata Tribunal in the case of REI Agro Ltd. vs DCIT [2013] 144 ITD 141 (Kolkata Trib.) [copy enclosed as Annexure 10- refer page nos. 55 to 61 of the written submission]. In this assessee had incurred interest expenditure on loans taken for business Purposes. The AO invoked Rule 8D and made disallowance under 2nd and 3rd limbs. The Hon’ble Tribunal made the following observations: “Rule 8D(2) has three sub-parts. Th…

Ms. Jyoti Kapur, New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed for statistical purposes

ITA 369/DEL/2014[2008-09]Status: DisposedITAT Delhi12 Aug 2016AY 2008-09

Bench: : Smt. Diva Singh & Shri L.P. Sahu

For Appellant: Sh. Akash Chug, C.AFor Respondent: Ms Anima Barnwal, Sr. DR
Section 10Section 147Section 14ASection 154

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH ‘D’ NEW DELHI BEFORE : SMT. DIVA SINGH, JUDICIAL MEMBER & SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA No.369/Del. /2014 Asstt. Year : 2008-09 Jyoti Kapoor, vs. A.C.I.T., Circle 23(1), B-80, Duggal Colony, New Delhi. Khanpur, New Delhi. (PAN: AAOPK 3085 D) (Appellant) (Respondent) Appellant by : Sh. Akash Chug, C.A. Respondent by : Ms Anima Barnwal, Sr. DR Date of hearing : 27.07.2016 Date of pronouncement : 12.08.2016 ORDER Per L.P. Sahu, Accountant Member: This is an appeal filed by the assessee against the order of ld. CIT(A)XI , New Delhi dated 29.10.2013 for the…

DCIT 3(2), Mumbai vs. Indiabulls Wholesale Services Ltd, Mumbai

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

ITA 6081/MUM/2014[2010-11]Status: DisposedITAT Mumbai30 Jun 2016AY 2010-11

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

Section 143(1)Section 143(2)Section 143(3)Section 14ASection 56Section 57

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

Indiabulls Wholesale Services Ltd, New Delhi vs. DCIT Cir 3(2), Mumbai

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

ITA 5732/MUM/2014[2010-11]Status: DisposedITAT Mumbai30 Jun 2016AY 2010-11

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

Section 143(1)Section 143(2)Section 143(3)Section 14ASection 56Section 57

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

DCIT Cir 7(1), Mumbai vs. Indiabulls Retail Service Ltd, Mumbai

In the result the appeals of the revenue stand dismissed and the appeal of the assessee is allowed

ITA 1165/MUM/2014[2008-09]Status: DisposedITAT Mumbai30 Jun 2016AY 2008-09

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Rajesh Kumar, Am आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly Knows As Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now Known As M K Road, M/S Store One Retails India Mumbai-400020 (Ltd),11Th Floor, Indiabulls Finance Centre, Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aadcp5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) बनधम/ M/S Indiabulls Wholesale Dy.Commissioner Of Income Tax- 3(2), Services Ltd, Vs. Aayakar Bhavan, M-62 & 63, 1St Floor, M K Road, Connaught Place, Mumbai-400020 New Delhi-110001 आयकर अपीऱ सं./I.T.A. No.6081/Mum/2014 (ननधधारण वषा / Assessment Year : 2010-11) Dy.Commissioner Of Income बनधम/ M/S Indiabulls Wholesale Tax-3(2), Services Ltd, Vs. Room No.674, 6Th Floor, 14Th Floor, Aayakar Bhavan, Indiabulls Finance Centre, M K Road, Tower No.1, Plot No.612-613, Mumbai-400020 Elibhinstone Road (W), Mumbai-400013 स्थधयी ऱेखध सं./ Pan : Aabci7129N अपीऱार्थी ओर से / Revenue By Shri Javed Akhatar प्रत्यर्थी की ओर से/ Assessee By S/Shri Jitendra Sangvi & Amit Khatiwalla

Section 143(1)Section 143(2)Section 143(3)Section 14ASection 56Section 57

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “आई” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM आयकर अपीऱ सं./I.T.A. No.1165/Mum/2014 (ननधधारण वषा / Assessment Year : 2008-09) Dy.Commissioner of Income बनधम/ M/s Indiabulls Retail Service Ltd, Tax-7(1), Room No.622, (Formerly knows as Pyramid Vs. Aayakar Bhavan, Retails Ltd, Now known as M K Road, M/s Store One Retails India Mumbai-400020 (Ltd),11th floor, Indiabulls Finance Centre, Elibhinstone road (W), Mumbai-400013 स्थधयी ऱेखध सं./ PAN : AADCP5164C आयकर अपीऱ सं./I.T.A. No.5732/Mum/2014 (नन…

Sunidhi Securities & Finance Ltd, Mumbai vs. Addl CIT 4(2), Mumbai

ITA 6135/MUM/2013[2010-11]Status: DisposedITAT Mumbai10 Jun 2016AY 2010-11

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1245/Mum/2012, 4983/Mum/2012 & 6135/Mum/2013 ("नधा"रण वष" / Assessment Year: 2008-09, 2009-10 & 2010-11) M/S. Sunidhi Securities & बनाम/ A.C.I.T. 4(2) Finance Ltd. Aayakar Bhavan, Vs. Maker Chamber Iv, Mumbai 14Th Floor, Nariman Point, Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs1657D

For Appellant: Shri Hiro RaiFor Respondent: Shri Chandrajit Singh
Section 14ASection 32

…is kind of investment in view of the observation made above. The second point which has been raised in this issue also is in connection with the exclusion of the shares which did not earn the dividend income. The assessee placed reliance on the law settled in 144 ITD 141 (Kol-Trib) REI Agro Ltd. Vs. DCIT and Cochin Bench in ITA Nos. 230 to 232/Cochin/2015 South India Corporation Ltd. Vs. JCIT and Mumbai bench in ITAT No.8581/Mum/2011 Sylvex Cable Co. P. Ltd.. No doubt the above said decisions speak that those shares which did not earn any dividend income are to be excluded from the value of investments for the pu…

Sunidhi Securities & Finance Ltd, Mumbai vs. ACIT 4(2), Mumbai

ITA 4983/MUM/2012[2009-10]Status: DisposedITAT Mumbai10 Jun 2016AY 2009-10

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1245/Mum/2012, 4983/Mum/2012 & 6135/Mum/2013 ("नधा"रण वष" / Assessment Year: 2008-09, 2009-10 & 2010-11) M/S. Sunidhi Securities & बनाम/ A.C.I.T. 4(2) Finance Ltd. Aayakar Bhavan, Vs. Maker Chamber Iv, Mumbai 14Th Floor, Nariman Point, Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs1657D

For Appellant: Shri Hiro RaiFor Respondent: Shri Chandrajit Singh
Section 14ASection 32

…is kind of investment in view of the observation made above. The second point which has been raised in this issue also is in connection with the exclusion of the shares which did not earn the dividend income. The assessee placed reliance on the law settled in 144 ITD 141 (Kol-Trib) REI Agro Ltd. Vs. DCIT and Cochin Bench in ITA Nos. 230 to 232/Cochin/2015 South India Corporation Ltd. Vs. JCIT and Mumbai bench in ITAT No.8581/Mum/2011 Sylvex Cable Co. P. Ltd.. No doubt the above said decisions speak that those shares which did not earn any dividend income are to be excluded from the value of investments for the pu…

Sunidhi Securities & Finance Ltd, Mumbai vs. ACIT 4(2), Mumbai

ITA 1245/MUM/2012[2008-09]Status: DisposedITAT Mumbai10 Jun 2016AY 2008-09

Bench: Shri B.R.Baskaran, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.1245/Mum/2012, 4983/Mum/2012 & 6135/Mum/2013 ("नधा"रण वष" / Assessment Year: 2008-09, 2009-10 & 2010-11) M/S. Sunidhi Securities & बनाम/ A.C.I.T. 4(2) Finance Ltd. Aayakar Bhavan, Vs. Maker Chamber Iv, Mumbai 14Th Floor, Nariman Point, Mumbai - 400021 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aadcs1657D

For Appellant: Shri Hiro RaiFor Respondent: Shri Chandrajit Singh
Section 14ASection 32

…is kind of investment in view of the observation made above. The second point which has been raised in this issue also is in connection with the exclusion of the shares which did not earn the dividend income. The assessee placed reliance on the law settled in 144 ITD 141 (Kol-Trib) REI Agro Ltd. Vs. DCIT and Cochin Bench in ITA Nos. 230 to 232/Cochin/2015 South India Corporation Ltd. Vs. JCIT and Mumbai bench in ITAT No.8581/Mum/2011 Sylvex Cable Co. P. Ltd.. No doubt the above said decisions speak that those shares which did not earn any dividend income are to be excluded from the value of investments for the pu…

Bombay Stock Exchange Ltd, Mumbai vs. Addl CIT RG 2(1), Mumbai

In the result, all the appeals of the assessee are partly allowed for statistical purposes

ITA 1836/MUM/2013[2009-10]Status: DisposedITAT Mumbai02 Jun 2016AY 2009-10
Section 14ASection 14A(2)

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “फी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JM AND SHRI RAJESH KUMAR, AM आमकय अऩीर सं./I.T.A. No.8095/Mum/2010, 4408/Mum/2012 And ITA No.1836/Mum/2013 (ननधधारण वषा / Assessment Years : 2007-08 to 2009-10) M/s Bombay Stock Exchange, बनधम/ Addl. Commissioner of Income Ltd, 25th floor, Tax RG 2(1), R No.551, Vs. 5th floor, Ayakar Bhavan, Phiroze Jeejeebhoy towers, Dalal St, Fort, M K Road, Mumbai-400001 Mumbai-400020 स्थधयी ऱेखध सं./ PAN : AACCB6672L अपीऱार्थी ओर से / Assessee by Shri Niraj Sheth प्रत्यर्थी की ओर से/ Revenue by Shr…

Bombay Stock Exchange Ltd, Mumbai vs. Addl CIT RG 2(1), Mumbai

In the result, all the appeals of the assessee are partly allowed for statistical purposes

ITA 4408/MUM/2012[2008-09]Status: DisposedITAT Mumbai02 Jun 2016AY 2008-09
Section 14ASection 14A(2)

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “फी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JM AND SHRI RAJESH KUMAR, AM आमकय अऩीर सं./I.T.A. No.8095/Mum/2010, 4408/Mum/2012 And ITA No.1836/Mum/2013 (ननधधारण वषा / Assessment Years : 2007-08 to 2009-10) M/s Bombay Stock Exchange, बनधम/ Addl. Commissioner of Income Ltd, 25th floor, Tax RG 2(1), R No.551, Vs. 5th floor, Ayakar Bhavan, Phiroze Jeejeebhoy towers, Dalal St, Fort, M K Road, Mumbai-400001 Mumbai-400020 स्थधयी ऱेखध सं./ PAN : AACCB6672L अपीऱार्थी ओर से / Assessee by Shri Niraj Sheth प्रत्यर्थी की ओर से/ Revenue by Shr…

Bombay Stock Exchange Ltd, Mumbai vs. Addl CIT RG 2(1), Mumbai

In the result, all the appeals of the assessee are partly allowed for statistical purposes

ITA 8095/MUM/2010[2007-08]Status: DisposedITAT Mumbai02 Jun 2016AY 2007-08
Section 14ASection 14A(2)

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ “फी” म ुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JM AND SHRI RAJESH KUMAR, AM आमकय अऩीर सं./I.T.A. No.8095/Mum/2010, 4408/Mum/2012 And ITA No.1836/Mum/2013 (ननधधारण वषा / Assessment Years : 2007-08 to 2009-10) M/s Bombay Stock Exchange, बनधम/ Addl. Commissioner of Income Ltd, 25th floor, Tax RG 2(1), R No.551, Vs. 5th floor, Ayakar Bhavan, Phiroze Jeejeebhoy towers, Dalal St, Fort, M K Road, Mumbai-400001 Mumbai-400020 स्थधयी ऱेखध सं./ PAN : AACCB6672L अपीऱार्थी ओर से / Assessee by Shri Niraj Sheth प्रत्यर्थी की ओर से/ Revenue by Shr…

M/S. Pepsico India Holdings Pvt. Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal of the assessee is allowed

ITA 3461/DEL/2013[2006-07]Status: DisposedITAT Delhi02 Jun 2016AY 2006-07

Bench: Shri G.D. Agrawal & Shri Sudhanshu Srivastavaay: 2006-07 M/S Pepsico India Holdings Pvt. Ltd., Vs Acit, No.54, Lower Ground Floor, Circle 14(1), World Trade Centre, C.R. Building, Barakhamba Road, New Delhi. New Delhi-110001 (Pan: Aaacp1272G) (Appellant) (Respondent) Appellant By: Shri C.S. Aggarwal, Sr. Adv. Shri Vishal Kalra, Adv. Respondent By: Ms Susan D. George, Sr. Dr

For Appellant: Shri C.S. Aggarwal, Sr. AdvFor Respondent: Ms Susan D. George, Sr. DR
Section 10(34)Section 115JSection 14A

…,80,77,000/- no dividend income has been earned and unless dividend income is earned, such investments cannot be considered for making the disallowance. 8. The Ld. AR also sought to place heavy reliance on the judgment in case of REI Agro Ltd vs DCIT (2014) (160 TTJ 107) (Kol) and affirmed by Hon’ble Calcutta High Court in GA 3022 of 2013 of ITAT 161 of 2013 in its judgment December 23, 2013 wherein even in respect of disallowance to be made under Rule 8D (2)(iii), it has been held as under: “8. In respect of provisions of rule 8D (2)(iii), which is the subject-matter of the appeal in the assessee's hand, a…

DCIT, New Delhi vs. M/S. Kesar Enterprises Ltd., Mumbai

In the result, the appeal is allowed for statistical purposes

ITA 6651/DEL/2013[2010-11]Status: DisposedITAT Delhi29 Apr 2016AY 2010-11

Bench: : Shri C.M. Garg & Shri L.P. Sahu

For Appellant: Sh. Shravan Gotru, Sr. DRFor Respondent: Sh. G.N. Gupta, I.T.P
Section 14A

…, Sherwani Industrial Syndicate Ltd., Hume Pipe Company Ltd., and Jain Sehkari Bank Ltd. The average of the investments in these companies is Rs.68035/-, ½ % of this amount is Rs.340/-. Keeping in view of the judgment of the REI Agro Ltd. Vs. DCIT reported in 144 ITD 141, the amount of Rs.340/- is confirmed and the remaining amount is directed to be deleted. The appellant gets part relief on this ground. 4. During the course of hearing, the ld. DR submitted that the ld. CIT(A) was not justified in deleting the additions as made by the AO. The assessee failed to give the requisite details before the AO with respe…