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

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

Birla Corporation Limited, Kolkata vs. DCIT, Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 497/KOL/2020[2014-15]Status: DisposedITAT Kolkata07 Feb 2023AY 2014-15

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

Birla Corporation Limited, Kolkata vs. DCIT Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 496/KOL/2020[2013-14]Status: DisposedITAT Kolkata07 Feb 2023AY 2013-14

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 2143/KOL/2018[2014-15]Status: DisposedITAT Kolkata07 Feb 2023AY 2014-15

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2013-14 &

ITA 2142/KOL/2018[2013-14]Status: DisposedITAT Kolkata07 Feb 2023AY 2013-14

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 115JSection 143(3)Section 14ASection 250Section 80I

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

DCIT, C-11(1), New Delhi vs. Hero Motocorp Ltd., New Delhi

Appeal of the Revenue is dismissed

ITA 1982/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Feb 2023AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat

Section 14ASection 2(22)(e)Section 40Section 40a

…(emphasis supplied) To the similar effect are the following decisions: - PCIT v. Caraf Builders & Constructions (P.) Ltd.: 414 ITR 122 (Del) – SLP filed by the Department dismissed in SLP(C) No. 25130/2019 reported in 268 Taxman 317 - REI Agro Ltd vs. DCIT: 144 ITD 141 (Kol. Trib.) - Department appeal dismissed in CIT v. REI Agro Ltd.: I.T.A.TNo.220 of 2013 (Cal. HC) - ACIT v. Vireet Investment (P.) Ltd.: 165 ITD 27 (Del) (SB) - Religare Enterprises Ltd. v. DCIT: 1549/Del/2014 (Del Trib.) - Religare Securities Ltd vs. ACIT: ITA 2282/Del/2013 - Religare Securities Ltd vs. DCIT: ITA 230/Del/2017 Amendment in sec…

Tm International Logistics Limited, Kolkata vs. DCIT, Cir. 8(1), Kolkata

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

ITA 528/KOL/2021[2016-17]Status: DisposedITAT Kolkata09 Jan 2023AY 2016-17

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17

For Appellant: Shri Nageswar Rao, AdvocateFor Respondent: Shri P. P. Barman, Addl. CIT
Section 143(3)Section 194JSection 201Section 40Section 9(1)

…1 ITA Nos. 527,487 &528/Kol/2021 T M International Logistics Ltd., AYs 2012-13, 2013-14 & 2016-17 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA आयकर अपीलीय अधीकरण, "यायपीठ “A” कोलकाता, BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17 T.M. International Logistics Deputy Commissioner of Ltd., 7th Floor, Infinity IT Income Tax, Circle-8(1), Lagoon Building, Plot-E2/1, Vs. Kolkata. Block EP & GP, Sector-V, Salt Lake, Kolkata-700091. (PAN: AABCT5399M) (Appellant) (Respondent) Present for: Appe…

Tm International Logistics Limited, Kolkata vs. DCIT, Cir. 8(1), Kolkata

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

ITA 527/KOL/2021[2012-13]Status: DisposedITAT Kolkata09 Jan 2023AY 2012-13

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17

For Appellant: Shri Nageswar Rao, AdvocateFor Respondent: Shri P. P. Barman, Addl. CIT
Section 143(3)Section 194JSection 201Section 40Section 9(1)

…1 ITA Nos. 527,487 &528/Kol/2021 T M International Logistics Ltd., AYs 2012-13, 2013-14 & 2016-17 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA आयकर अपीलीय अधीकरण, "यायपीठ “A” कोलकाता, BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17 T.M. International Logistics Deputy Commissioner of Ltd., 7th Floor, Infinity IT Income Tax, Circle-8(1), Lagoon Building, Plot-E2/1, Vs. Kolkata. Block EP & GP, Sector-V, Salt Lake, Kolkata-700091. (PAN: AABCT5399M) (Appellant) (Respondent) Present for: Appe…

Tm International Logistics Limited, Kolkata vs. DCIT, Cir. 8(1), Kolkata

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

ITA 487/KOL/2021[2013-14]Status: DisposedITAT Kolkata09 Jan 2023AY 2013-14

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17

For Appellant: Shri Nageswar Rao, AdvocateFor Respondent: Shri P. P. Barman, Addl. CIT
Section 143(3)Section 194JSection 201Section 40Section 9(1)

…1 ITA Nos. 527,487 &528/Kol/2021 T M International Logistics Ltd., AYs 2012-13, 2013-14 & 2016-17 IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA आयकर अपीलीय अधीकरण, "यायपीठ “A” कोलकाता, BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2012-13 & Assessment Year: 2013-14 & Assessment Year: 2016-17 T.M. International Logistics Deputy Commissioner of Ltd., 7th Floor, Infinity IT Income Tax, Circle-8(1), Lagoon Building, Plot-E2/1, Vs. Kolkata. Block EP & GP, Sector-V, Salt Lake, Kolkata-700091. (PAN: AABCT5399M) (Appellant) (Respondent) Present for: Appe…

Wns Global Services P. Ltd., Mumbai vs. Addl/Jt/Dy/Asstt/CIT/ITO, Nationa Faceless Assessment Centre, Dilhi

In the result, appeal filed by the assessee is allowed

ITA 1259/MUM/2021[2016-17]Status: DisposedITAT Mumbai09 Dec 2022AY 2016-17

Bench: Shri Vikas Awasthy & Shri Gagan Goyalwns Global Services Pvt. Ltd., Pl 10, Gate No.4, Godrej & Boyce Complex, Pirojshanagar, Lbs Marg, Vikhroli (West), Mumbai-400079. Pan: Aaacw2598L ...... Appellant Vs.. Addl./Jt/Dy./Acit/Ito/Nfac, Room No. 455, Circle-14(3)(1), Mumbai. ..... Respondent Appellant/Assessee By : Sh. Porus Kaka, Sr. Adv. & Sh. Manish Kant Respondent/Revenue By : Sh. Jasdeep Singh, Cit-Dr

For Appellant: Sh. Porus Kaka, Sr. Adv. &For Respondent: Sh. Jasdeep Singh, CIT-DR
Section 143(3)Section 144C(13)Section 92B

…he Rules, only the interest expenditure incurred during the previous year which is not directly attributable to any particular income or receipt is required to be considered. In this regard, reliance is placed on the following judgment: REI Agro Ltd. vs. DCIT 160 TTJ 107 (Cal) ACIT v Best & Crompton Engineering Ltd. (36 taxmann.com 555) 33 ITA No. 1259/Mum/2021-WNS Global Services Pvt. Ltd. The entire interest amount of Rs 50.75 Crores debited to the profit and loss account is directly attributable to a particular income or receipt. The detailed break-up of the said interest expenses has been provided on page…

Birla Corporation Ltd., Kolkata vs. DCIT, Cir.-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 495/KOL/2020[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

Birla Corporation Limited, Kolkata vs. DCIT, Cir-6(1), Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 494/KOL/2020[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2112/KOL/2018[2012-13]Status: DisposedITAT Kolkata31 Oct 2022AY 2012-13

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

DCIT, Circle - 6(1), Kolkata vs. M/S. Birla Corporation Ltd., Kolkata

In the result, appeals filed by the Revenue for AYs 2011-12 &

ITA 2111/KOL/2018[2011-12]Status: DisposedITAT Kolkata31 Oct 2022AY 2011-12

Bench: Sri Rajpal Yadav & Dr. Manish Borad

Section 143(3)Section 250Section 37(1)Section 40Section 43B

…ernative argument of the Id AR that only dividend bearing investments are to be considered for making disallowance u/s 14 A of the Act. In this regard, the reliance placed by the Id A R on the decision of this tribunal in the case of REI Agro Ltd. reported in 144 ITD 141 (Kol) is very well founded wherein it was held that: 8.1 Thus, not all investments become the subject-matter of consideration when computing disallowance under section 14A read with Rule 8D. The disallowance under section 14A read with rule 8D is to be in relation to the income which does not form part of the total income and this can be done onl…

Shri Vimal Ramniklal Ambani, Ahmedabad vs. The DCIT, Circle-4(1)(1), Ahmedabad

In the result, the appeal of the assessee is dismissed

ITA 325/AHD/2020[2014-15]Status: DisposedITAT Ahmedabad28 Sept 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Year : 2014-15 Shri Vimal Ramniklal Ambani, Dcit, 7, Gadhvi Society, Vs Circle-4(1)(1), Navrangpura, Ahmedabad Ahmedabad Pan : Aadpa 7562 Q अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Revenue By : Shri Shramdeep Sinha, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 25/08/2022 घोषणा क" तार"ख /Date Of Pronouncement: 28/09/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

For Appellant: NoneFor Respondent: Shri Shramdeep Sinha, Sr. DR
Section 14A

…e investments which have yielded dividend income to the assessee in the year under consideration. In this regard we find support and guidance from the order of Coordinate Bench of this Tribunal in the case of REI Agro Ltd. v. Dy. CIT [2013] 35 taxmann.com 404/144 ITD 141 (Kol.) which was also affirmed by the Hon'ble Calcutta High Court vide Order dated 09.04.2014 in GA No. 3581 of 2013, wherein it was held that the disallowance as per Rule 8D shall be made by taking into consideration only those shares, which have yielded dividend income in the year under consideration. Therefore we direct the AO to make the disa…

ACIT Cent. Cir 5(40, Mumbai vs. M/S. Wadhwa Group Holdings Pvt. Ltd, Mumbai

ITA 148/MUM/2022[2017-18]Status: DisposedITAT Mumbai29 Jul 2022AY 2017-18

Bench: Shri Kuldip Singh & Shri S. Rifaur Rahmanassessment Year: 2017-18 The Asstt. Commissioner M/S. Wadhwa Group Of Income Tax, Holdings Pvt. Ltd., Central Circle – 5(4), 301 Platina, Room No.1927, 19Th Floor, Plot C-59, Vs. Air India Building, G Block, Nariman Point, Bandra Kurla Complex, Mumbai - 400021 Bandra (E), Mumbai – 400 098 Pan: Aaccv3961G (Appellant) (Respondent)

For Appellant: Shri Mahesh O. Rajora, A.RFor Respondent: Shri Kishor Dhule, D.R
Section 143(3)Section 14A

…on the decisions of Hon'ble ITAT Delhi Special Bench in the case of ACIT Vs. Vireet Investments Pvt. Ltd. & Anrs [58 ITR(Trib) 313(Delhi)](SB), ACB India Ltd Vs. ACIT [374 4 M/s. Wadhwa Group Holdings Pvt. Ltd. ITR (Trib) 108] (Delhi), REI Agro Ltd Vs. DCIT [144 ITD 141] (Kolkata). Identical view has been taken in various decision of jurisdictional Mumbai ITAT in the cases of DCIT Vs. Cox & Kings (I) Ltd [160 DTR 201](Mumbai), DCIT Vs. Ashrit Holdings Ltd [51 CCH 301](Mumbai), ACIT Vs. Af-Taab Investment Company Limited [51 CCH 358](Mumbai), DCIT Vs. Reliance Capital Ltd [51 CCH 427](Mumbai), Sajjan India limit…

Pramod B Ranka, Pune vs. Deputy Commissioner of Income-Tax, Circle - 5, Pune

Appeal is allowed for statistical purposes in above terms

ITA 2712/PUN/2017[2013--14]Status: DisposedITAT Pune08 Jun 2022

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2712/Pun/2017 ननधधारण वषा / Assessment Year : 2013-14

For Appellant: Shri Kisore B PhadkeFor Respondent: Shri S. P. Walimbe
Section 143(3)Section 14A

…s no indication that the learned lower authorities 3 Shri Pramod B. Ranka, have made administrative expenses disallowance going by the investments yielding exempt income only in light of ACIT Vs. Vineet Investments (P) Ltd 165 ITD 27 (Delhi) (SB) and (2013) 144 ITD 141(Kolkata) REI Agro Ltd. Vs. DCIT. We thus restore both these issues qua the impugned u/s. 14A rule 8D disallowance; back to the Assessing Officer in very terms. Ordered accordingly. 5. This assessee’s appeal is allowed for statistical purposes in above terms. Order pronounced in the Open Court on this 8th day of June, 2022. (DR.DIPAK P.RIPOTE)…

Hinduja Finance Ltd., Mumbai vs. DCIT, Range -7(1)(2) (Earlier DCIT 6(1)), Mumbai

In the result, this ground of appeal of assessee is dismissed and order of Ld

ITA 7154/MUM/2019[2010-11]Status: DisposedITAT Mumbai20 May 2022AY 2010-11

Bench: Shri Vikas Awasthy & Shri Gagan Goyalhinduja Finance Ltd. 171, Hinduja House, Dr. Annie Besant Road, Worli, Mumbai-400018 Pan: Aagca0533R ...... Appellant Vs. Dy.Cit, Range-7(1)(2) Aayakar Bhavan, M.K. Road, Mumbai-400020. ..... Respondent Appellant By : Sh. Ruturaj Gurjar Respondent By : Sh. B.K. Bagchi, Cit-Dr Date Of Hearing : 25/03/2022 Date Of Pronouncement : 20/05/2022 Order Per Gagan Goyal, A.M: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals)-13, Mumbai [Hereinafter Referred To As ‘The Cit (A)’] Vide Order Dated 05.09.2019 For The Assessment Year (Ay) 2010- 11. The Assessee Has Raised The Following Grounds Of Appeal: 1. On The Facts & The Circumstances Of The Case & In Law, The Cit(A) Has Erred In Confirming: I) The Disallowance Made U/S.14A Of The Income Tax Act At Rs.7, 06,985/- As Against Disallowance Of Rs.2, 52,536/- As Computed By The Appellant. The Disallowance Made Of Rs.4, 54,449/- May Please Be Deleted.

For Appellant: Sh. Ruturaj GurjarFor Respondent: Sh. B.K. Bagchi, CIT-DR
Section 14Section 14A

…f Shivam Motors 4 ITA No. 7154/Mum/2019, AY 2010-11 Pvt. Ltd. - 272 CTR 277. P&H High Court in the matter of Lakhani Marketing Inc. 272 CTR 268. 1.5 Further, reliance is also placed on the Kolkata Tribunal decision rendered in the matter of REI Agro Ltd. - 144 ITD 141, wherein, the Kolkata Tribunal held that -under Rule 8D(2)(iii), what is disallowable amount equal to ½% of the average value of investment the income from which does not or shall not form part of the total income. Thus, under, sub-clause (iii), what is disallowed is ½% of the numerator B in Rule 8D (2)(iii). This has to be calculated on the same…

Niraj Kumar Associates Pvt.Ltd, Pashan vs. Assistant Commissioner of Income-Tax, Circle - 2, Pune

Appeal is allowed for stastical purposes in above terms

ITA 2565/PUN/2017[2013-14]Status: DisposedITAT Pune13 May 2022AY 2013-14

Bench: Shri S.S.Godara, Jm & Shri Dr. Dipak P. Ripote, Am आयकर अपीऱ सं. / Ita No.2565/Pun/2017 ननधधारण वषा / Assessment Year : 2013-14 Niraj Kumar Associates Pvt. Ltd., 129/2, Mont Vert Marc, Pashan-Sus Road, Pashan – 411 021 .......अपऩलधथी / Appellant Pan : Aaacn6424G बनधम / V/S. ……प्रत्यथी / Respondent Acit, 2, Pune

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

…orders. We thus restore this proportionate interest expenditure disallowance issue back to the Assessing Officer for his afresh adjudication as per law. Coming to the administrative expenditure disallowance component, we quote REI Agro Ltd. V/s. DCIT (2013) 144 ITR 141 (Kolkata) that only dividend yielding than the entire investments have to be taken into consideration Hon’ble Calcutta high court has also confirmed the same in GA No.358/2013 in Revenue’s appeal. The assessing authority shall 3 Niraj Kumar Associates Pvt. Ltd., accordingly compute this latter head of administrative expenditure disallowance afre…