Wimco Seedlings v. DCIT

107 ITD 267Income Tax Appellate Tribunal2007#2969 most cited

What is Wimco Seedlings v. DCIT authority for?

There can be no presumption that an assessee must have incurred expenditure to earn tax-free income. Disallowance under section 14A requires actual expenditure, not notional or estimated amounts.

40

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2025.

Also referred to as

Wimco Seedlings v DCIT · 107 ITD 267 · Section 14A · disallowance of expenses · exempt income · actual expenditure · no presumption of expenditure

Sections most often in play

Section 10(34)Section 14ASection 2(19AA)Section 2(22)Section 37(1)Section 40(a)(ia)Section 45Section 47(vib)

Issues it is cited on

valuation of sharesbook profitsdisallowance under section 14asection 32section 115jcapital expendituresection 115jbincome-tax officersection 14asection 115section 11previous year

Judgments citing Wimco Seedlings v. DCIT

DCIT 3(1), Mumbai vs. Edelweiss Capital Ltd, Mumbai

In the result appeals of Revenue are dismissed

ITA 7797/MUM/2011[2007-08]Status: DisposedITAT Mumbai14 Mar 2018AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm

Section 143(3)Section 14ASection 36(1)(iii)

…ance u/s. 14A of the Act In "Maruti Udyog v DCIT 92 ITD 119 (Del), it has been held that before making any disallowance u/s. 14A of the Act, the onus to establish the nexus of the same with exempt income, is on the revenue. In "Wimco Seedlings Limited v DCIT" 107 ITD 267 (Del)(TM) it has been held that M/s. Edelweiss Capital Ltd., there can be no presumption that the assessee must have incurred expenditure to earn tax free income. Similar are the decisions in i. Punjab National Bank v DCIT 1'03 TTJ 908 (Del) ii. Vidyut Investments Ltd. 10 SOT 284 (Del); and iii. D.J. Mehta v ITO 290IR 238 (Mum)(AT) In the case D…

Dy. C.I.T. 1(2), Raipur (Cg) vs. M/S Hira Ferro Alloys Ltd., Raipur

In the result, appeal filed for assessment year 2010-11 is dismissed

ITA 360/BIL/2014[2011-12]Status: DisposedITAT Raipur18 Jan 2018AY 2011-12

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: NoneFor Respondent: Shri P.K.Mishra, CIT DR
Section 14ASection 801ASection 80ISection 8Q

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos.358 to 360/Rpr/2014 Assessment Years : 2009-10, 2010-2011 & 2011-12 DCIT, 1(2), Aayakar Vs. Hira Ferro Alloys Ltd., B- Bhawan, Central Revenue 567, Urla Industrial Area, Building, Civil Lines, Raipur Raipur PAN/GIR No.AAACH 5679 (Appellant) .. ( Respondent) Assessee by : None Revenue by : Shri P.K.Mishra, CIT DR Date of Hearing : 16/01/ 2018 Date of Pronouncement : 18 /01/ 2018 O R D E R Per Pavan Kumar Gadale, JM These are appeal filed by the revenue again…

Dy. C.I.T. 1(2), Raipur (Cg) vs. M/S Hira Ferro Alloys Ltd., Raipur

In the result, appeal filed for assessment year 2010-11 is dismissed

ITA 359/BIL/2014[2010-11]Status: DisposedITAT Raipur18 Jan 2018AY 2010-11

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: NoneFor Respondent: Shri P.K.Mishra, CIT DR
Section 14ASection 801ASection 80ISection 8Q

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos.358 to 360/Rpr/2014 Assessment Years : 2009-10, 2010-2011 & 2011-12 DCIT, 1(2), Aayakar Vs. Hira Ferro Alloys Ltd., B- Bhawan, Central Revenue 567, Urla Industrial Area, Building, Civil Lines, Raipur Raipur PAN/GIR No.AAACH 5679 (Appellant) .. ( Respondent) Assessee by : None Revenue by : Shri P.K.Mishra, CIT DR Date of Hearing : 16/01/ 2018 Date of Pronouncement : 18 /01/ 2018 O R D E R Per Pavan Kumar Gadale, JM These are appeal filed by the revenue again…

Dy. C.I.T. 1(2), Raipur (Cg) vs. M/S Hira Ferro Alloys Ltd., Raipur

In the result, appeal filed for assessment year 2010-11 is dismissed

ITA 358/BIL/2014[2009-10]Status: DisposedITAT Raipur18 Jan 2018AY 2009-10

Bench: S/Shri N.S Saini & Pavan Kumar Gadale

For Appellant: NoneFor Respondent: Shri P.K.Mishra, CIT DR
Section 14ASection 801ASection 80ISection 8Q

…IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE S/SHRI N.S SAINI, ACCOUNTANT MEMBER AND PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA Nos.358 to 360/Rpr/2014 Assessment Years : 2009-10, 2010-2011 & 2011-12 DCIT, 1(2), Aayakar Vs. Hira Ferro Alloys Ltd., B- Bhawan, Central Revenue 567, Urla Industrial Area, Building, Civil Lines, Raipur Raipur PAN/GIR No.AAACH 5679 (Appellant) .. ( Respondent) Assessee by : None Revenue by : Shri P.K.Mishra, CIT DR Date of Hearing : 16/01/ 2018 Date of Pronouncement : 18 /01/ 2018 O R D E R Per Pavan Kumar Gadale, JM These are appeal filed by the revenue again…

ACIT 3(1)(2), Mumbai vs. Edelweiss Trading & Holdings Ltd, Mumbai

In the result, the appeal filed by the revenue is hereby ordered to be dismissed

ITA 4259/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2018AY 2011-12

Bench: Shri Rajendra, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.4259/Mum/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) Acit-3(1)(2) बिधम/ M/S. Edelweiss Trading & Room No. 607, 6Th Floor, Holding Ltd. (Formerly Vs. Aayakar Bhavan, Mumbai- Edelweiss Commodities 400020 Ltd.) 1, Edelweiss House, Off, Cst Road, Kalina, Santacruz (E) Mumbai- 400098 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabce3819M (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Revenue By: Shri Saurabh Deshpande (Dr) Assessee By: Shri Rajan Vora सुनवाई की तारीख / Date Of Hearing: 26.10.2017 घोषणा की तारीख /Date Of Pronouncement: 17. 01.2018 आदेश / O R D E R Per Amarjit Singh, Jm: The Revenue Has Filed The Present Appeal Against The Order Dated 16.03.2016 Passed By The Commissioner Of Income Tax (Appeals) - 8, Mumbai [Hereinafter Referred To As The “Cit(A)”] Relevant To The A.Y.2011- 12. 2. The Revenue Has Raised The Following Grounds:- “1. "On The Facts & Circumstances Of The Case & In Law, The Ld. Cit{A) Erred In Deleting The Addition Of Rs.12,74,59,362/- Made By Assessing Officer On Account Of Mark To Market Loss A.Y.2011-12

For Appellant: Shri Rajan VoraFor Respondent: Shri Saurabh Deshpande (DR)
Section 10(34)Section 142(1)Section 143(2)Section 14ASection 14A(2)

…ssing officer goes against the letter and spirit of several decisions of higher courts ruling mentioned below: • Union Bank of India v. ACIT, ITA No. 5347/Mum/2007 wherein the Hon'ble Members following the decision in the case of Wimco Seedlings Ltd. v. DCIT, 107 ITD 267 (Delhi) (TM), held that only expenditure, which has been proved to have been incurred in relation to the earning of tax free income, can be disallowed, and the section cannot be extended to disallow even expenditure which is assumed to have been incurred for the purpose of earning the tax free income. • B.S.E.S, Ltd. v. DCIT (Mum.), wherein the H…

D.C.I.T., Circle-12, Kolkata vs. M/S Vantage Advertising Pvt. Ltd., Chennai

In the result the appeal by the revenue is dismissed

ITA 2616/KOL/2013[2010-2011]Status: DisposedITAT Kolkata03 Jan 2018AY 2010-2011

Bench: Hon’Ble Sri N.V.Vasudevan, Jm & Dr.Arjun Lal Saini, Am]

For Appellant: Md. Usman, CIT(DR)For Respondent: Shri J.P.Khaitan, Sr.Advocate &
Section 133(6)Section 14A

…he conclusion of CIT(A). 1. Advance Construction Co.Pvt. Ltd, Mumbai vs ACIT (2008-TIOL-281-ITAT- MUM): 2. ACIT vs Eicher Ltd. (2006) (101 TTJ 369) (Del-ITAT): Birla Group Holdings vs DCIT (2007) 13 SOT 642 (ITAT Mumbai). 3. Wimco Seedling Ltd. Vs DCIT (2007) 109 TTJ 462 (Del) (TM) We find no grounds to interfere with the order of the CIT(A). Accordingly, Ground No.2 raised by the revenue is dismissed. 12. Ground No.3 raised by the revenue reads as follows :- “3.In the facts and circumstances of the case the Ld.CIT(A) has erred in holding the advertisement hoardings as temporary structure and allowing depreciati…

DCIT 3(3)(2), Mumbai vs. Smart Chip Ltd, Mumbai

ITA 6301/MUM/2016[2012-2013]Status: DisposedITAT Mumbai03 Jan 2018AY 2012-2013
For Appellant: Shri Sashi TulsiyanFor Respondent: Shri Ram Tiwari-DR
Section 115Section 14Section 143(3)Section 14ASection 254(1)

…estments, that the AO had not established any nexus between the expenditure disallowed under rule 8D. He relied upon the cases of Reliance Utilities and Power Ltd.(313 ITR 340),Food Links Services (I) Pvt. Ltd. (ITA/2079 to 84/Mum/ 2011), Wimco Seedlings Ltd (107 ITD 267)and deleted the addition made by the AO under the regular provisions as well as under the MAT provisions. 4.Before us,the Departmental Representative(DR)supported the order of the AO. The Authorised Representative(AR)relied upon the order of the FAA and stated that the assessee had not earned any exempt income during the year under consideration,…

Aishwarya Rai Bachchan, Mumbai vs. DCIT Cen Cir 2, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3873/MUM/2013[2004-05]Status: DisposedITAT Mumbai18 Jan 2017AY 2004-05

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT CC 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3816/MUM/2013[2009-10]Status: DisposedITAT Mumbai18 Jan 2017AY 2009-10

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT CC 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3815/MUM/2013[2007-08]Status: DisposedITAT Mumbai18 Jan 2017AY 2007-08

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT CC 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3814/MUM/2013[2008-09]Status: DisposedITAT Mumbai18 Jan 2017AY 2008-09

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT CC 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3796/MUM/2013[2005-06]Status: DisposedITAT Mumbai18 Jan 2017AY 2005-06

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT Cen Cir 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3795/MUM/2013[2006-07]Status: DisposedITAT Mumbai18 Jan 2017AY 2006-07

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT CC 2, Mumbai vs. Aishwarya Rai Bachchan, Mumbai

In the result, appeals of the Revenue are dismissed, whereas appeal of assessee is allowed for statistical purposes

ITA 3791/MUM/2013[2004-05]Status: DisposedITAT Mumbai18 Jan 2017AY 2004-05

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm

Section 143(1)Section 143(2)Section 143(3)Section 154Section 220(2)Section 44ASection 80RSection 90Section 94(7)

…s14A, the onus to establish the nexus of the same with the exempt income, is on the revenue (Maruti Udyog vs. DCIT 92 ITD 119 (Del)). There is be no presumption that the assessee must have incurred expenditure to earn tax free income (Wimco Seedlings vs. DCIT 107 ITD 267 (Del.)(TM)). 23. While framing assessment for assessment year 2004-05 u/s.143(3) r.w.s.147, the AO made addition of Rs.52,83,630/- on account of tax deducted at source in the countries outside India. 24. Facts in brief are that the assessee has filed her return of income in response to notice issued u/s.148 declaring total income at Rs.16,31,42,…

DCIT (Ltu), New Delhi vs. M/S. Exl Service.Com (India) Pvt. Ltd., New Delhi

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 615/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…ce Industries Ltd. 339 ITR 632 (Bom) " CIT Vs Torrent Power Ltd. 363 ITR 474 (Guj.) " Maxpax Investment Ltd. Vs ACIT 104 TTJ 881 (Del. Trib.) " ACIT Vs Eicher Ltd. 101 TTJ 369 (Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (Del.) " Wimco Seedlings Ltd. Vs DCIT 107 ITD 267 (Del.) ™ " DLF Ltd. Vs CIT 27 SOT 22 (Del.) " ACIT Vs Jindal Saw Pipes Ltd. 118 TTJ 228 (Del.) " Impulse ((India) (P) Ltd. Vs ACIT 22 SOT 368 (Del.) " ACIT Vs Champion Commercial Co. Ltd. in ITA No. 644/Kol./2012 " CIT Pilani Investment & Industries Corp. Ltd. in ITA No. 653/Kol./2012 " CIT Vs Gujarat Power Corporation Ltd. in ITA No. 1587/2009 "…

Exl Service.Com (India) Pvt. Ltd., New Delhi vs. DCIT (Ltu), New Delhi

In the result, the appeal by the assessee as well as ofthe department are partly allowed for statistical purposes

ITA 302/DEL/2015[2010-11]Status: DisposedITAT Delhi03 Jan 2017AY 2010-11

Bench: Sh. N. K. Saini, Am & Sh. Kuldip Singh, Jm Ita No. 302/Del/2015 : Asstt. Year : 2010-11 Exl Service.Com (India) Pvt. Ltd., Vs Deputy Commissioner Of Income 414, 4Th Floor, Dlf Jasola, Tax, Large Tax Payer Unit, Tower-B, Plot No. 10 & 11, Dda New Delhi District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Ita No. 615/Del/2015 : Asstt. Year : 2010-11 Deputy Commissioner Of Income Vs Exl Service.Com (India) Pvt. Ltd., 414, 4Th Floor, Dlf Jasola, Tower- Tax, Circle-1 (Ltu), New Delhi-110017 B, Plot No. 10 & 11, Dda District Centre, Jasola, New Delhi-110044 (Appellant) (Respondent) Pan No. Aaace5174C Assessee By : Sh. Ajay Vohra, Adv. Sh. Abhishek Agarwal, Adv. Revenue By : Sh. Piyush Jain, Cit Dr Date Of Hearing : 07.10.2017 Date Of Pronouncement : 03.01.2017 Order Per N. K. Saini, Am:

For Appellant: Sh. Ajay Vohra, AdvFor Respondent: Sh. Piyush Jain, CIT DR
Section 143(3)Section 92D

…ce Industries Ltd. 339 ITR 632 (Bom) " CIT Vs Torrent Power Ltd. 363 ITR 474 (Guj.) " Maxpax Investment Ltd. Vs ACIT 104 TTJ 881 (Del. Trib.) " ACIT Vs Eicher Ltd. 101 TTJ 369 (Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (Del.) " Wimco Seedlings Ltd. Vs DCIT 107 ITD 267 (Del.) ™ " DLF Ltd. Vs CIT 27 SOT 22 (Del.) " ACIT Vs Jindal Saw Pipes Ltd. 118 TTJ 228 (Del.) " Impulse ((India) (P) Ltd. Vs ACIT 22 SOT 368 (Del.) " ACIT Vs Champion Commercial Co. Ltd. in ITA No. 644/Kol./2012 " CIT Pilani Investment & Industries Corp. Ltd. in ITA No. 653/Kol./2012 " CIT Vs Gujarat Power Corporation Ltd. in ITA No. 1587/2009 "…

M/S. Dell International Services India (P) Ltd., Noida vs. Addl. CIT, New Delhi

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

ITA 5522/DEL/2011[2007-08]Status: DisposedITAT Delhi08 Aug 2016AY 2007-08

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 5522/Del/2011 : Asstt. Year : 2007-08 M/S Dell International Services Vs Deputy Commissioner Of Income India Pvt. Ltd., (Formerly Known As Tax, Circle-14(1), Room No. 415, Perot Systems Tsi (India) Pvt. Central Revenue Building, Ltd.), Plot No. 3, Sector-125, New Delhi Noida-201301 (Appellant) (Respondent) Pan No. Aaach1925Q Assessee By : Sh. Vishal Kalra, Adv. & Sh. S. S. Tomar, Adv. & Sh. G. Gupta, Adv. Revenue By : Sh. N. C. Swain, Cit Dr Date Of Hearing : 02.08.2016 Date Of Pronouncement : 08.08.2016 Order Per N. K. Saini, Am:

For Appellant: Sh. Vishal Kalra, Adv. & Sh. S. SFor Respondent: Sh. N. C. Swain, CIT DR
Section 10(34)Section 10ASection 143(1)Section 143(3)Section 14ASection 234D

…ance was made by the company.” 6. The reliance was placed on the following case laws: 5 Dell International Services Pvt. Ltd. " Impulse India Pvt. Ltd. Vs ACIT 22 SOT 368 (ITAT Del.) " ACIT VS Eicher Ltd. 101 TTJ 369 (ITAT Del.) " Wimco Seedings Ltd. Vs DCIT 107 ITD 267 (ITAT Del.) " Maruti Udyog Ltd. Vs DCIT 92 ITD 119 (ITAT Del.) " CIT Vs Hero Cycles Ltd. 189 Taxman 50 (P&H) The AO did not find merit in the submissions of the assessee. 7. The assessee also raised the objection before the ld. DRP and submitted that the assessee had not incurred any expenditure to earn this income. Therefore, the AO was not jus…

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal is allowed

ITA 5720/DEL/2011[2007-08]Status: DisposedITAT Delhi12 Jul 2016AY 2007-08

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Assessment Year: 2007-08 Maruti Suzuki India Ltd., Vs. Additional Cit, Plot No.1, Nelson Mandela Road, Range-6, Vasant Road, New Delhi. New Delhi. (Pan: Aaacm0829Q) (Appellant) (Respondent) Assessee By: S/Shri Ajay Vohra, Sr. Adv. Neeraj Jain, Rohit Jain, Adv. Romit Katyal & Ms. Tejasvi Jain, Cas Department By:Shri Amrendra Kumar, Cit(Dr)

For Appellant: S/Shri Ajay Vohra, Sr. Adv. NeerajFor Respondent: Shri Amrendra Kumar, CIT(DR)

…section 14A cannot be made on the basis of mere presumption: CIT v. Hero Cycles: : (2009): 323 ITR 518 (P&H) CIT v. Metalman Auto P. Ltd.: 336 ITR 434 (P&H) M/s Maxpak Investment Ltd (ITA No.2632/Del/2003) (Del. Tri.) 66 Wimco Seedlings Limited v. DCIT: 107 ITD 267 (Del. Tri.)(TM) ACIT v. Eicher Limited: 101 TTJ 369 (Del.) 17.4 Furthermore, in the following cases it has been held that for making a disallowance under section 14A of the Act, the assessing officer has to prove nexus between the exempt income and the expenditure incurred: ACIT v. Jindal Saw Pipes Ltd. : 118 TTJ 228 (Del.) Punjab National Ban…

Yardley Investment & Trading Co. Ltd, Mumbai vs. CIT(A) -3, Mumbai

Accordingly the appeal filed by the assessee is hereby allowed for statistical purpose

ITA 5419/MUM/2015[2012-13]Status: DisposedITAT Mumbai29 Feb 2016AY 2012-13

Bench: Shri R.C.Sharma, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. No.5419/M/15 ("नधा"रण वष" / Assessment Year: 2012-13) M/S. Yardley Investment & Income Tax Officer 1(3)(2) बनाम/ Trading Co. Pvt. Ltd. Aayakar Bhavan, M.K.Road, Vs. 01, Pearl Mansion, (N)(91), Mumbai - 400020 M. K. Road, Mumbai - 400013 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacy0327M

For Appellant: NoneFor Respondent: Shri. V. S. Jadhav
Section 14Section 14A

…आयकर अपील"य अ"धकरण,“आई” "यायपीठ, मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI "ी आर. सी. शमा", लेखा सद"य, एवं "ी अमरजीत "संह, "या"यक सद"य, के सम" BEFORE SHRI R.C.SHARMA, AM AND SHRI AMARJIT SINGH, JM आयकर अपील सं/ I.T.A. No.5419/M/15 ("नधा"रण वष" / Assessment Year: 2012-13) M/s. Yardley Investment & Income Tax Officer 1(3)(2) बनाम/ Trading Co. Pvt. Ltd. Aayakar Bhavan, M.K.Road, Vs. 01, Pearl Mansion, (N)(91), Mumbai - 400020 M. K. Road, Mumbai - 400013 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACY0327M .. (अपीलाथ" /Appellant) (""यथ" / Respondent) Assessee by: None Department by: Shri. V. S. Ja…

Infomedia 18 Ltd ( Formerly Known As Infomedia India Ltd), Mumbai vs. Addl CIT RG 6(1), Mumbai

ITA 4441/MUM/2009[2005-06]Status: DisposedITAT Mumbai24 Nov 2015AY 2005-06

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4441/Mum/2009 ("नधा"रण वष" / Assessment Year : 2005-06)

For Respondent: Shri Samuel Darse (D.R)
Section 142Section 143(2)Section 143(3)Section 14ASection 14A(2)

…(2) and (3) to Section 14A of the Act read with Rule 8D are retrospective . The assessee company submitted that the Subsection (2) and (3) to Section 14A of the Act are not retrospective by relying on following decisions : a. Wimco Seedlings Limited v. DCIT 107 ITD 267(Del.)(TM) b. TCI Finance Limited v. ACIT (2008-TIOL-213-ITAT-Hyd.) c) Impulse (India) Private Limited v. ACIT (2008) 22 SOT 368(Del.) The CIT(A) following decision in Daga Capital Management Private Limited reported in 117 ITD 169(Del.)(SB) held that provisions of sub section (2) and (3) of Section14A of the Act read with Rule 8D of Income Tax…