Technopark Advisors Ltd. v. ACIT (50 SOT 31)

DALMIA (BROS) PVT LTD,NEW DELHI vs. DCIT, CIRCLE-7(1), NEW DELHI

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

ITA 1145/DEL/2024[2015-16]Status: DisposedITAT Delhi22 Sept 2025AY 2015-16

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahmandalmia (Bros) Pvt. Ltd., Vs. Dcit, Circle 7 (1), C/O Shri Vinod Kumar Bindal & Co., New Delhi. Chartered Accountants, Shiv Sushil Bhawan, D-219, Vivek Vihar, Phase 1, Delhi – 110 095. (Pan :Aaacd3525G) (Appellant) (Respondent) Assessee By : Shri Vinod Kumar Bindal, Advocate Ms. Rinky Sharma, Itp Revenue By : Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing : 03.07.2025 Date Of Order : 22.09.2025 O R D E R Per S. Rifaur Rahman: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Addl./Jcit (A)-7, Kolkata [“Ld. Jcit(A)”, For Short] Dated 19.01.2024 For The Assessment Year 2015-16 Raising Following Grounds Of Appeal :- “1. The Learned Cit (A) Erred In Law & On Facts In Confirming The Disallowance Of Vehicle Running Expenses Amounting To Rs.4,00,204/- Though Evidences Placed On Record. Thus, The Addition Made On Surmises & Conjectures Must Be Deleted.

For Appellant: Shri Vinod Kumar Bindal, AdvocateFor Respondent: Shri Rajesh Kumar Dhanesta, Sr. DR

Section 14ASection 37

…be justified even where there is no receipt of exempt income u/s. 10 in the year under consideration, in view of the latest decision of 5 the Hon'ble Delhi ITAT vide order dated 09.0726S Tor, AY 2008-09 in the case of Technopak Advisors Private Limited 2012] 50 SOT 31, wherein it has been held that as per provisions: of Section 144, actual earning of income is not sine qua non for deciding deduction of expenditure laid out or expended wholly or exclusively for purpose of such income. The Hon'ble Tribunal adjudicated upon the question of law in affirmative as to whether, where investment had been made in shares,…

MOHAN SHARMA(INDIVIDUAL),BALLABGARH vs. ITO, WARDE-1(5), FARIDABAD

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

ITA 1145/DEL/2018[2014-15]Status: DisposedITAT Delhi24 Feb 2025AY 2014-15

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahmandalmia (Bros) Pvt. Ltd., Vs. Dcit, Circle 7 (1), C/O Shri Vinod Kumar Bindal & Co., New Delhi. Chartered Accountants, Shiv Sushil Bhawan, D-219, Vivek Vihar, Phase 1, Delhi – 110 095. (Pan :Aaacd3525G) (Appellant) (Respondent) Assessee By : Shri Vinod Kumar Bindal, Advocate Ms. Rinky Sharma, Itp Revenue By : Shri Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing : 03.07.2025 Date Of Order : 22.09.2025 O R D E R Per S. Rifaur Rahman: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Addl./Jcit (A)-7, Kolkata [“Ld. Jcit(A)”, For Short] Dated 19.01.2024 For The Assessment Year 2015-16 Raising Following Grounds Of Appeal :- “1. The Learned Cit (A) Erred In Law & On Facts In Confirming The Disallowance Of Vehicle Running Expenses Amounting To Rs.4,00,204/- Though Evidences Placed On Record. Thus, The Addition Made On Surmises & Conjectures Must Be Deleted.

For Appellant: Shri Vinod Kumar Bindal, AdvocateFor Respondent: Shri Rajesh Kumar Dhanesta, Sr. DR

Section 14ASection 37

…be justified even where there is no receipt of exempt income u/s. 10 in the year under consideration, in view of the latest decision of 5 the Hon'ble Delhi ITAT vide order dated 09.0726S Tor, AY 2008-09 in the case of Technopak Advisors Private Limited 2012] 50 SOT 31, wherein it has been held that as per provisions: of Section 144, actual earning of income is not sine qua non for deciding deduction of expenditure laid out or expended wholly or exclusively for purpose of such income. The Hon'ble Tribunal adjudicated upon the question of law in affirmative as to whether, where investment had been made in shares,…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), RAIPUR vs. MESERS VANDANA ISPAT LIMITED, RAIPUR

In the result, the appeal of revenue is dismissed

ITA 183/RPR/2019[2013-14]Status: DisposedITAT Raipur31 Oct 2022AY 2013-14

For Appellant: Shri R.B.Doshi, CAFor Respondent: Shri G.N.Singh, Sr. DR

Section 68

…wherein it was held that it is not necessary to earn exempt income for making disallowance u/s 14A and the similar decision has also held in the cases of (i) Sira Industries & Holding Pvt. Ltd. (2012) 54 SOT 49(Chen), (ii) Technopark Advisory Pvt. Ltd (2012) 50 SOT 31(Del), (iii) Relaxo Footwear Ltd (2012) 50 SOT 102 (Del) and (iv) India Infrastructure Developers Ltd (2009) 121 ITD 315 (Del)? 23. “Whether on points of law and on facts & circumstances of the case, the Ld. CIT(A) was justified in deleting the addition by ignoring the; circular no. 05/2014 dated 11.02.2014 issued by CBDT wherein it has been clarifi…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1(1), RAIPUR vs. M/S R.N. NAVNIRMAN PRIVATE LIMITED, RAIPUR

ITA 143/RPR/2018[2014-15]Status: DisposedITAT Raipur23 Sept 2022AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.143/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 The Assistant Commissioner Of Income Tax-1(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. M/S. R.N. Navnirman Pvt. Ltd. Vandana Building, Raipur (C.G.) Pan : Aadcr0896D ……""यथ" / Respondent Assessee By :Shri R.B Doshi, Ca Revenue By :Shri Sanjay Kumar, Sr. Dr

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Sanjay Kumar, Sr. DR

Section 14ASection 14A(2)Section 14A(3)Section 250(4)Section 68

…exempt income for making disallowance u/s 14A and the similar decision has also held in the 4 ACIT, Circle-1(1) Vs. M/s. R.N Navnirman Pvt. Ltd. cases of (i) Sira Industries & Holding Pvt. Ltd. (2012) 54 SOT 49(Chen), (ii) Technopark Advisory Pvt. Ltd (2012) 50 SOT 31(Del), (iii) Relaxo Footwear Ltd (2012) 50 SOT 102 (Del) and (iv) India Infrastructure Developers Ltd (2009) 121 ITD 315 (Del)? 12. "Whether on points of law and on facts & circumstances of the case, the Ld. CIT(A) was justified in deleting the addition by ignoring the circular no. 05/2014 dated 11.02.2014 issued by CBDT wherein it has been clarifie…

SCHNEIDER ELECTRIC IT BUSINESS INDIA PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, LTU, CIRCLE-2, BANGALORE

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

ITA 185/BANG/2022[2017-18]Status: DisposedITAT Bangalore01 Sept 2022AY 2017-18

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariit(Tp)A No.185/Bang/2022 Assessment Year: 2017-18

For Appellant: Shri Rohit Tiwari, A.RFor Respondent: Shri Manjunath Karkihalli, D.R

Section 143(3)Section 144BSection 144C(13)Section 92D

…IT(TP)A No.185/Bang/2022 Schneider Electric IT Business India Pvt. Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER IT(TP)A No.185/Bang/2022 Assessment Year: 2017-18 M/s. Schneider Electric IT Business India Pvt. Ltd. Tower C, 6th Floor, Bearys Global Research Deputy Commissioner of Triangle Income-tax LTU Vs. Whitfield Hoskote Main Road Circle 6(1)(1) Goravigere Village Bangalore Bangalore 560 067 PAN NO : AACCA638Q APPELLANT RESPONDENT Appellant by : Shri Rohit Tiwari, A.R. Respondent by : Sh…

VICTORY ELECTRICALS LIMITED, MEDCHAL,R.R.DIST vs. DCIT, CIRCLE-17(2), HYDERABAD, HYDERABAD

The appeal of the assessee is allowed for statistical purposes

ITA 738/HYD/2017[2012-13]Status: DisposedITAT Hyderabad14 Jul 2022AY 2012-13

Bench: Shri Rama Kanta Panda & Shri Laliet Kumarassessment Year: 2012-13 Victory Electricals Ltd., V Dcit,Circle-17(2) Plot No.8, Survey No.855, S. Signature Towers Ida, Medchal, Kondapur Ranga Reddy, Hyderabad Hyderabad-501 401

For Appellant: Shri S.Rama Rao, AdvocateFor Respondent: Shri Dr.Rajendra Kumar,CIT-DR

Section 14ASection 32(2)Section 36Section 36(1)(vii)

…such income has been earned. Thus I am of the view that ratio of these cases will apply mutatis mutandis under sec. 14A of the Act also while ascertaining the expenditure incurred for earning tax-free income from investment [Technopak Advisors (P.) Ltd [2012) 50 SOT 31 (Delhi) para 3, Relaxo footwears ltd. V. Addl. CIT (2012) 50 SOT 102 (Delhi) and Cheminvest Ltd. v. Income-Tax Officer [2009] 121 ITD 318 (DELHI)(SB) followed). 6.7 For an example the interest paid on borrowings for the purchase of shares is treated as allowable under section 57 as an expenditure incurred for earning or making income or under sect…

RAVI GOENKA,MUMBAI vs. ACIT 17(3), MUMBAI

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

ITA 5132/MUM/2018[2013-14]Status: DisposedITAT Mumbai05 Oct 2021AY 2013-14

Bench: Shri Mahavir Singh () & Shri S. Rifaur Rahman () Assessment Year: 2013-14 Mr. Ravi Goenka, Asst. Commissioner Of Income Tax, 15, Shirin Chambers, 348/50, Vs. Circle 17(3), Samuel Street, Vadgadi, Room No. 137, 1St Floor, Mumbai-400 003. Aayakar Bhavan, M.K. Road, Mumbai-400020. Pan No. Aacpg 9107 E Appellant Respondent

For Appellant: Mr. Shekhar Gupta, ARFor Respondent: Mr. Bharat Andhale, DR

Section 10Section 143(1)Section 143(2)Section 143(3)

…d Boyce. Also, there have been number of judicial pronouncements upholding the applicability of section 14A in respect of dividend income. Few of them are quoted below-  Smt. Leena Ramachandran [(2011) 339 ITR 296 (Ker)]  Technopack Advisors P Ltd [(2012) 50 SOT 31 (Delhi)(URO)]  Relaxo Footwear Ltd [ (2012) 50 SOT 102 (Delhi)]  Cheminvest Ltd {121 ITD 318 2009 (DEL)]  Yogesh J Shah [(2010)(46 SOT 183) (Mum) (URO] Therefore, in the light of the above discussion the undersigned is satisfied as per section 14A (3) that the expenditure in relation to the exempt income has not been correctly disallowed by the…

THE TATA POWER CO.LTD,MUMBAI vs. PR CIT 2, MUMBAI

The appeal of the assessee is allowed partly in term of the above

ITA 3534/MUM/2016[2009-10]Status: DisposedITAT Mumbai03 Sept 2019AY 2009-10

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am आयकर अपील सुं/ Ita No. 3534/Mum/2016 (यिर्ाारण बर्ा / Assessment Year 2009-10)

For Appellant: S/Shri Nitesh Joshi, Milin thakore &For Respondent: Shri Rajeev K Gubgotra

Section 143(3)Section 14ASection 263

…आयकर अपीलीय अधिकरण “J” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM आयकर अपील सुं/ ITA No. 3534/Mum/2016 (यिर्ाारण बर्ा / Assessment Year 2009-10) The Tata Power Co. Ltd. Corporate Center, Block ‘B’, 5th Floor, ……………. Appellant 34 Sant Takuram Road, Carnac Bunder, / अपीलाथी Mumbai-400 009 स्थायी लेखा िं /PAN – AAACT0054A v/s The Principal Commissioner of Income Tax-2 …………….Respondent 384, Aayakar Bhavan, Maharshi Karve Road, / प्रत्यथााी Mumbai-400 020 अ…

RASNA PVT. LTD.,,AHMEDABAD vs. THE DY. CIT.,CIRCLE-3(1)(2),, AHMEDABAD

In the result, appeal ITA 2334/Ahd/2015 filed by assessee is partly allowed

ITA 2334/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad30 Jan 2019AY 2010-11

For Appellant: Shri P.F. Jain, A.RFor Respondent: Shri Lalit P. Jain, Sr. D.R

Section 143(3)Section 36Section 41(1)

…. In the earlier year, ITAT had held that the disallowance for interest paid on loans borrowed for making investment in shares was not applicable, as the assessee did not earn any dividend from such investment. In the case of Technopack Advisors P Ltd [(2012) 50 SOT 31 (Delhi)(URO)]it is held,that Even if the investment in shares did not yield any dividend in the year under consideration, the disallowance u/s14A on the expenditure incurred for earning income was disallowable, notwithstanding the fact that no such income was earned. Honable Kerala HC in case of Popular Vehicles & Services Ltd [(2010)325 ITR 523 (K…

SYMPHONY LTD.,,AHMEDABAD vs. THE DY.CIT, CIRCLE-8,, AHMEDABAD

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

ITA 2133/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad16 Jan 2019AY 2010-11

For Appellant: Shri Bharat Shah, A.RFor Respondent: Shri Mudit Nagpal, Sr. D.R

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

…t. In the earlier year, ITAT had held that the disallowance for interest paid on loans borrowed for making investment in shares was not applicable as the assessee did not earn any dividend from such investment. In the case of Technopack Advisors P Ltd [(2012) 50 SOT 31 (Delhi)(URO) it is held that Even if the interest in shares did not yield any dividend in the year under consideration, the disallowance u/s. 14A on the expenditure incurred for earning income was disallowable, notwithstanding the fact that no such income was earned. Hon’ble Kerala HC in case of Popular Vehicles & Services Ltd. [(2010) 325 ITR 523…

THE ITO, WARD-5(2),, AHMEDABAD vs. PARRY ENGINNERING & ELECTRONICS PVT.LTD.,, AHMEDABAD

In the result, appeals of the revenue are dismissed

ITA 1034/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad06 Jun 2018AY 2011-12

Bench: Shri Pramod Kumar & Shri Rajpal Yadavसव"ी Izeksn Dqekj Izeksn Dqekj Izeksn Dqekj लेखा सद"य, एवं राजपाल यादव "या"यक सद"य के सम"। Izeksn Dqekj आयकर अपील सं./ Ita Nos. 1033 & 1034/Ahd/2015 "नधा"रण वष"/Assessment Years: 2010-11 & 2011-12 Income Tax Officer, Parry Engineering & Ward-3(1)(2), Vs Electronics Pvt. Ltd. Ahmedabad. B-608, Nirman Complex, Opp. Havmore Restaurant, Navrangpura, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp 6747 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri Saurabh Singh, Sr.D.R. Assessee By : Shri G. C. Pipara, A.R.

For Appellant: Shri G. C. Pipara, A.RFor Respondent: Shri Saurabh Singh, Sr.D.R

Section 143(1)Section 143(2)Section 14A

…ench ruling in Cheminvest Ltd, Chennai ITAT held that the disallowance u/s 14A was applicable, even though the assessee did not earn any exempt income in AY 2007-08. Similarly reliance is also placed on the finding of case of Technopack Advisors P Ltd [(2012) 50 SOT 31 (Delhi) (URO)] wherein it is held that Even if the investment in shares did not yield any dividend in the year under consideration, the disallowance u/s14A on the expenditure incurred for earning income was disallowable, notwithstanding the fact that no such income was earned. Appellant's case is clearly a case of mixed fund as highlighted by the…

THE ACIT, CIRCLE-5,, AHMEDABAD vs. PARRY ENGINNERING & ELECTRONICS PVT.LTD.,, AHMEDABAD

In the result, appeals of the revenue are dismissed

ITA 1033/AHD/2015[2010-11]Status: DisposedITAT Ahmedabad06 Jun 2018AY 2010-11

Bench: Shri Pramod Kumar & Shri Rajpal Yadavसव"ी Izeksn Dqekj Izeksn Dqekj Izeksn Dqekj लेखा सद"य, एवं राजपाल यादव "या"यक सद"य के सम"। Izeksn Dqekj आयकर अपील सं./ Ita Nos. 1033 & 1034/Ahd/2015 "नधा"रण वष"/Assessment Years: 2010-11 & 2011-12 Income Tax Officer, Parry Engineering & Ward-3(1)(2), Vs Electronics Pvt. Ltd. Ahmedabad. B-608, Nirman Complex, Opp. Havmore Restaurant, Navrangpura, Ahmedabad. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacp 6747 J अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri Saurabh Singh, Sr.D.R. Assessee By : Shri G. C. Pipara, A.R.

For Appellant: Shri G. C. Pipara, A.RFor Respondent: Shri Saurabh Singh, Sr.D.R

Section 143(1)Section 143(2)Section 14A

…ench ruling in Cheminvest Ltd, Chennai ITAT held that the disallowance u/s 14A was applicable, even though the assessee did not earn any exempt income in AY 2007-08. Similarly reliance is also placed on the finding of case of Technopack Advisors P Ltd [(2012) 50 SOT 31 (Delhi) (URO)] wherein it is held that Even if the investment in shares did not yield any dividend in the year under consideration, the disallowance u/s14A on the expenditure incurred for earning income was disallowable, notwithstanding the fact that no such income was earned. Appellant's case is clearly a case of mixed fund as highlighted by the…

DCIT CIR 3(3)(2), MUMBAI vs. TULIP HOTELS P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 5151/MUM/2015[2011-12]Status: DisposedITAT Mumbai14 Mar 2018AY 2011-12

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm Dcit Cir 3(3)(2) Vs. M/S. Tulip Hotels Pvt.Ltd., R.No.609, 6Th Floor Chandermukhi Building Aayakar Bhavan (Basement), Behind The M.K.Road, Oberoi Nariman Point Mumbai – 400 020 Mumbai – 400 021 Pan/Gir No. Aaact9446Q Appellant) .. Respondent)

Section 10Section 143Section 143(3)Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM DCIT CIR 3(3)(2) Vs. M/s. Tulip Hotels Pvt.Ltd., R.No.609, 6th Floor Chandermukhi Building Aayakar Bhavan (Basement), Behind the M.K.Road, Oberoi Nariman Point Mumbai – 400 020 Mumbai – 400 021 PAN/GIR No. AAACT9446Q Appellant) .. Respondent) Assessee by Shri Ram Tiwari Revenue by Shri Vijay Mehta Date of Hearing 05/01/2018 Date of Pronouncement 14/03/2018 आदेश / O R D E R PER SANDEEP GOSAIN (J.M): This is an appeal filed by the revenue against the order of CIT(A) - 8, Mumbai dated 25/08/2015 for A.Y…

DCIT 9(1)(2), MUMBAI vs. ASHRIT HOLDINGS LTD, MUMBAI

In the result , appeal of the Revenue in ITA No

ITA 3284/MUM/2016[2012-13]Status: DisposedITAT Mumbai08 Nov 2017AY 2012-13

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No. 3284/Mum/2016 (नििाारण वर्ा / Assessment Year : 2012-13)

For Appellant: Shri Shloka ShahaFor Respondent: Shri T.A. Khan

Section 143(3)Section 14A

…rned exempt income on all investment held by it during the year and hence provision of Section 14A is not applicable , was rejected by the A.O. . The A.O. relied upon the decision of the Delhi ITAT dated 09.01.2012 in the case Technopak Advisors P. Ltd.[2012] 50 SOT 31 wherein it was held that for invoking Section 14A actual earning of exempt income is not necessary. The AO also relied upon decision of Special Bench in the case of Cheminvest Ltd. v. ITO 317 ITR 86(AT) and other decisions of the courts/tribunal to reject contention of the assessee that even if there is no exempt income but still disallowance u/s.…

Technopark Advisors Ltd. v. ACIT

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