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“disallowance under section 14A”

DisallowancesSection 14ASection 14A2,288 judgments

The decision most relied on for disallowance under section 14A is CIT v. Reliance Petroproducts Pvt. Ltd. (322 ITR 158), cited in 2,228 judgments on BharatTax.

Leading authorities on disallowance under section 14A

CIT v. Reliance Petroproducts Pvt. Ltd.
322 ITR 158 · 2010 · Supreme Court
2,228
citing judgments

Penalty under Section 271(1)(c) for furnishing inaccurate particulars or concealment of income is not automatically leviable if the assessee has made a full disclosure of all particulars and the addition or disallowance arises from a difference of opinion.

CIT v. Reliance Utilities & Power Ltd.
313 ITR 340 · 2009 · High Court
2,118
citing judgments

Where an assessee claims that investments were made out of own funds, interest disallowance under Section 14A read with Rule 8D may not apply if the assessee demonstrates the availability of sufficient interest-free funds to cover such investments.

Maxopp Investment Ltd. v. CIT
402 ITR 640 · 2018 · Supreme Court
1,596
citing judgments

Disallowance under Section 14A is not automatic and requires the Assessing Officer to record satisfaction before applying Rule 8D. Only investments yielding exempt income are considered for disallowance, irrespective of their strategic nature.

Cheminvest Ltd. v. CIT
378 ITR 33 · 2015 · High Court
1,569
citing judgments

A disallowance under Section 14A of the Income-tax Act, 1961, for expenditure incurred in relation to exempt income cannot be made if the assessee has not earned any exempt income during the relevant previous year.

S.A. Builders Ltd. v. CIT
288 ITR 1 · 2007 · Supreme Court
1,484
citing judgments

Interest paid on borrowed funds cannot be disallowed merely because the assessee made interest-free advances, provided those advances were made for business purposes and commercial expediency. The Revenue cannot dictate a businessman's commercial decisions, but the assessee bears the onus to prove the business expediency.

CIT v. HDFC Bank Ltd.
366 ITR 505 · 2014 · High Court
1,261
citing judgments

When an assessee possesses interest-free funds sufficient to cover investments yielding tax-free income, it is presumed that such investments were made from these interest-free funds, precluding disallowance of interest expenditure under Section 14A.

Godrej & Boyce Mfg. Co. Ltd. v. DCIT
328 ITR 81 · 2010 · High Court
1,183
citing judgments

Rule 8D, for computing disallowance under Section 14A for expenses related to exempt income, applies from Assessment Year 2008-09 onwards; for prior years, a reasonable disallowance must be made. The disallowance under Section 14A cannot exceed the actual exempt income earned.

ACIT v. Vireet Investment Pvt. Ltd.
165 ITD 27 · 2017 · ITAT
882
citing judgments

No disallowance under section 14A can be made while computing book profits under section 115JB unless the expenditure is debited to the profit and loss account and satisfies clause (f) of Explanation 1 to section 115JB(2).

Judgments citing disallowance under section 14A

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1570/DEL/2018[2012-13]Status: DisposedITAT Delhi25 Jan 2024AY 2012-13

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

facts and in the circumstances of the case, the lower authorities erred in law in adding a sum of Rs. 85,43,000/- disallowed under section 14A readwith rule 8D while computing the book profits under section 115JB of the Act. 4. The lower authorities erred on facts ... facts and in the circumstances of the case, the lower authorities erred in law in adding a sum of Rs. 80,54,305/- disallowed under section 14A read with rule 8D while computing the book profits under section 115JB of the Act. 4. The lower authorities erred on facts

Uflex Ltd., New Delhi vs. ACIT, Central Circle- 27, New Delhi

In the result, appeals of the assessee for AY 2011-12 and subsequent

ITA 1569/DEL/2018[2011-12]Status: DisposedITAT Delhi25 Jan 2024AY 2011-12

Bench: N.K. Billaiya & Ms. Astha Chandra

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 115JSection 14ASection 801BSection 80I

facts and in the circumstances of the case, the lower authorities erred in law in adding a sum of Rs. 85,43,000/- disallowed under section 14A readwith rule 8D while computing the book profits under section 115JB of the Act. 4. The lower authorities erred on facts ... facts and in the circumstances of the case, the lower authorities erred in law in adding a sum of Rs. 80,54,305/- disallowed under section 14A read with rule 8D while computing the book profits under section 115JB of the Act. 4. The lower authorities erred on facts

DCIT-2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3375/MUM/2023[2016-17]Status: DisposedITAT Mumbai24 Jan 2024AY 2016-17

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

DCIT 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3374/MUM/2023[2017-18]Status: DisposedITAT Mumbai24 Jan 2024AY 2017-18

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

DCIT 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 3371/MUM/2023[2018-19]Status: DisposedITAT Mumbai24 Jan 2024AY 2018-19

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1785/MUM/2023[2018-2019]Status: DisposedITAT Mumbai24 Jan 2024AY 2018-2019

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1784/MUM/2023[2017-2018]Status: DisposedITAT Mumbai24 Jan 2024AY 2017-2018

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax-2(3)(1), Mumbai

In the result, the assessee's appeal for AY 2016-17 to AY 2018-19 is allowed and the Revenue's appeal for AY 2016-17 to 2018-19 is dismissed

ITA 1783/MUM/2023[2016-2017]Status: DisposedITAT Mumbai24 Jan 2024AY 2016-2017

Bench: Shri Kuldip Singh, Jm & Ms Padmavathy S, Am

For Appellant: Shri Yogesh Thar a/w ShriFor Respondent: Shri Biswanath Das, CIT-DR
Section 14ASection 36(1)(viia)

ESOP of Ground No.2 Ground No.2 - expenses HDFC Bank Ltd. Revenue's Appeal Issue AY 2016-17 AY 2017-18 AY 2018-19 Disallowance under section 14A Ground No.1 Ground No.1 Ground No.1 – Amendment brought in by Finance Act 2022 is retrospective Disallowance of broken period Ground No.2 Ground No.2 ... ESOP of Ground No.5 expenses 2. We will first consider the assessee's appeal for adjudication. ITA No. 1783/Mum/2023 – AY 2016-17 Disallowance under section 14A – Ground No.1 2. During the year under consideration, the assessee had earned exempt income to the tune

M/S Dharani Developers Private Limited, Alwarpet, Chennai vs. ACIT, Company Circle 1(4), Nungambakkam Chennai

ITA 401/CHNY/2023[2017-18]Status: DisposedITAT Chennai18 Jan 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.397, 398, 399, 400 & 401/Chny/2023 Assessment Years: 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18 M/S. Dharani Developers Private Vs. The Asst/Deputy Commissioner Of Limited, No. 1, Venus Colony Ii Street, Income Tax, Corporate Circle 1(1), Alwarpet, Chennai 600 018. 121, Mahatma Gandhi Road, [Pan:Aabcd6222D] Nungambakkam, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ramakrishnan, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.01.2024 घोषणा की तारीख /Date Of Pronouncement : 18.01.2024 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, All Dated 31.01.2023 Relevant To The Assessment Years 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Property Development & Filed Its Return Of Income For The Assessment Years Under Appeal. The First Ground Raised By The Assessee

For Appellant: Shri K. Ramakrishnan, CAFor Respondent: Shri D. Hema Bhupal, JCIT

assessment years 2012-13 and 2013-14 respectively. However, the Assessing Officer determined the disallowance under section 14A of the Act at ₹.58,02,576/- and ₹.49,07,221/- for the assessment years 2012-13 and 2013-14 respectively. On appeal, the ld. CIT(A) upheld the disallowance made under ... I.T.A. Nos.397-401/Chny/23 while affirming the order of the Tribunal, the Hon’ble High Court has observed and held as under: “The disallowance, under section 14A of the Income-tax Act, 1961 read with rule 8D of the Income-tax Rules, 1962 of the expenditure incurred to earn exempted income

M/S Dharani Developers Private Limited, Alwarpet, Chennai vs. ACIT, Company Circle 1(4), Nungambakkam Chennai

ITA 400/CHNY/2023[2016-17]Status: DisposedITAT Chennai18 Jan 2024AY 2016-17

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.397, 398, 399, 400 & 401/Chny/2023 Assessment Years: 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18 M/S. Dharani Developers Private Vs. The Asst/Deputy Commissioner Of Limited, No. 1, Venus Colony Ii Street, Income Tax, Corporate Circle 1(1), Alwarpet, Chennai 600 018. 121, Mahatma Gandhi Road, [Pan:Aabcd6222D] Nungambakkam, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ramakrishnan, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.01.2024 घोषणा की तारीख /Date Of Pronouncement : 18.01.2024 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, All Dated 31.01.2023 Relevant To The Assessment Years 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Property Development & Filed Its Return Of Income For The Assessment Years Under Appeal. The First Ground Raised By The Assessee

For Appellant: Shri K. Ramakrishnan, CAFor Respondent: Shri D. Hema Bhupal, JCIT

assessment years 2012-13 and 2013-14 respectively. However, the Assessing Officer determined the disallowance under section 14A of the Act at ₹.58,02,576/- and ₹.49,07,221/- for the assessment years 2012-13 and 2013-14 respectively. On appeal, the ld. CIT(A) upheld the disallowance made under ... I.T.A. Nos.397-401/Chny/23 while affirming the order of the Tribunal, the Hon’ble High Court has observed and held as under: “The disallowance, under section 14A of the Income-tax Act, 1961 read with rule 8D of the Income-tax Rules, 1962 of the expenditure incurred to earn exempted income

M/S Dharani Developers Private Limited, Alwarpet, Chennai vs. ACIT, Company Circle 1(4), Nungambakkam Chennai

ITA 399/CHNY/2023[2013-14]Status: DisposedITAT Chennai18 Jan 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.397, 398, 399, 400 & 401/Chny/2023 Assessment Years: 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18 M/S. Dharani Developers Private Vs. The Asst/Deputy Commissioner Of Limited, No. 1, Venus Colony Ii Street, Income Tax, Corporate Circle 1(1), Alwarpet, Chennai 600 018. 121, Mahatma Gandhi Road, [Pan:Aabcd6222D] Nungambakkam, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ramakrishnan, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.01.2024 घोषणा की तारीख /Date Of Pronouncement : 18.01.2024 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, All Dated 31.01.2023 Relevant To The Assessment Years 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Property Development & Filed Its Return Of Income For The Assessment Years Under Appeal. The First Ground Raised By The Assessee

For Appellant: Shri K. Ramakrishnan, CAFor Respondent: Shri D. Hema Bhupal, JCIT

assessment years 2012-13 and 2013-14 respectively. However, the Assessing Officer determined the disallowance under section 14A of the Act at ₹.58,02,576/- and ₹.49,07,221/- for the assessment years 2012-13 and 2013-14 respectively. On appeal, the ld. CIT(A) upheld the disallowance made under ... I.T.A. Nos.397-401/Chny/23 while affirming the order of the Tribunal, the Hon’ble High Court has observed and held as under: “The disallowance, under section 14A of the Income-tax Act, 1961 read with rule 8D of the Income-tax Rules, 1962 of the expenditure incurred to earn exempted income

M/S Dharani Developers Private Limited, Alwarpet, Chennai vs. ACIT, Company Circle 1(4), Nungambakkam Chennai

ITA 398/CHNY/2023[2012-13]Status: DisposedITAT Chennai18 Jan 2024AY 2012-13

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.397, 398, 399, 400 & 401/Chny/2023 Assessment Years: 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18 M/S. Dharani Developers Private Vs. The Asst/Deputy Commissioner Of Limited, No. 1, Venus Colony Ii Street, Income Tax, Corporate Circle 1(1), Alwarpet, Chennai 600 018. 121, Mahatma Gandhi Road, [Pan:Aabcd6222D] Nungambakkam, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ramakrishnan, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.01.2024 घोषणा की तारीख /Date Of Pronouncement : 18.01.2024 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, All Dated 31.01.2023 Relevant To The Assessment Years 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Property Development & Filed Its Return Of Income For The Assessment Years Under Appeal. The First Ground Raised By The Assessee

For Appellant: Shri K. Ramakrishnan, CAFor Respondent: Shri D. Hema Bhupal, JCIT

assessment years 2012-13 and 2013-14 respectively. However, the Assessing Officer determined the disallowance under section 14A of the Act at ₹.58,02,576/- and ₹.49,07,221/- for the assessment years 2012-13 and 2013-14 respectively. On appeal, the ld. CIT(A) upheld the disallowance made under ... I.T.A. Nos.397-401/Chny/23 while affirming the order of the Tribunal, the Hon’ble High Court has observed and held as under: “The disallowance, under section 14A of the Income-tax Act, 1961 read with rule 8D of the Income-tax Rules, 1962 of the expenditure incurred to earn exempted income

M/S Dharani Developers Private Limited, Alwarpet, Chennai vs. ACIT, Company Circle 1(4), Nungambakkam Chennai

ITA 397/CHNY/2023[2008-2009]Status: DisposedITAT Chennai18 Jan 2024AY 2008-2009

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. Nos.397, 398, 399, 400 & 401/Chny/2023 Assessment Years: 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18 M/S. Dharani Developers Private Vs. The Asst/Deputy Commissioner Of Limited, No. 1, Venus Colony Ii Street, Income Tax, Corporate Circle 1(1), Alwarpet, Chennai 600 018. 121, Mahatma Gandhi Road, [Pan:Aabcd6222D] Nungambakkam, Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri K. Ramakrishnan, Ca ""थ" की ओर से/Respondent By : Shri D. Hema Bhupal, Jcit सुनवाई की तारीख/ Date Of Hearing : 09.01.2024 घोषणा की तारीख /Date Of Pronouncement : 18.01.2024 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against Separate Orders Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre [Nfac], Delhi, All Dated 31.01.2023 Relevant To The Assessment Years 2008-09, 2012-13, 2013-14, 2016-17 & 2017-18. 2. Brief Facts Of The Case Are That The Assessee Is Engaged In The Business Of Property Development & Filed Its Return Of Income For The Assessment Years Under Appeal. The First Ground Raised By The Assessee

For Appellant: Shri K. Ramakrishnan, CAFor Respondent: Shri D. Hema Bhupal, JCIT

assessment years 2012-13 and 2013-14 respectively. However, the Assessing Officer determined the disallowance under section 14A of the Act at ₹.58,02,576/- and ₹.49,07,221/- for the assessment years 2012-13 and 2013-14 respectively. On appeal, the ld. CIT(A) upheld the disallowance made under ... I.T.A. Nos.397-401/Chny/23 while affirming the order of the Tribunal, the Hon’ble High Court has observed and held as under: “The disallowance, under section 14A of the Income-tax Act, 1961 read with rule 8D of the Income-tax Rules, 1962 of the expenditure incurred to earn exempted income

Elara Capital(India) Private Limited, Mumbai vs. Income Tax Officer 6(2)(3), Mumbai

In the result appeal of the assessee is allowed

ITA 2964/MUM/2023[2014-15]Status: DisposedITAT Mumbai18 Jan 2024AY 2014-15

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalelara Capital (India) Pvt. Ltd., Tower-3, 21St Floor, One International Centre, Senapati Bapat Marg, Elphinstone Road (W) Mumbai- 400013, Pan: Aabce6487B ...... Appellant Vs. Ito-6(2)(3), Room No. 513, 5Th Floor, Aayakar Bhavan, Mahrishi Karve Road, Mumbai- 400020 ..... Respondent

For Appellant: Shri Rumit Tanna, Ld. ARFor Respondent: Shri P. D. Chougule, Ld. DR
Section 14ASection 250

following amounts, namely, provided such expenditure should not be exceeded the total expenditure claimed by the assessee..... During the AY 2017-18 the disallowance under section 14A r.w.r. 8D was worked out with new methodology prescribed for working of expenses attributable to exempt income as per Rule

Cedar Infonet Pvt. Ltd., New Delhi vs. DCIT, Circle- 5(2), New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 3462/DEL/2018[2012-13]Status: DisposedITAT Delhi18 Jan 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Pradip Kumar Kedia

For Appellant: Shri R.S. Ahuja, CAFor Respondent: Shri T. James Singson, CIT-DR
Section 143(3)Section 14ASection 250Section 36(1)(iii)

Assessment Year 2011-12. The assessee thus gets partial relief. 8. The first ground is thus partly allowed. 9. Second ground concerns disallowance under Section 14A of the Act. 10. At the time of hearing, the ld. counsel submits that the assessee has earned exempt income by way of dividend ... assessee automatically and that too, from only one company, i.e., namely, Tulip Shares. The ld. counsel submits that for the purposes of disallowance under Section 14A, only the investment which has yielded exempt income is required to be considered. The only investment which has given rise to exempt income

DCIT Cir 6(1), Mumbai vs. Briggs Trading Co, P. Ltd, Mumbai

ITA 2136/MUM/2014[2008-09]Status: DisposedITAT Mumbai17 Jan 2024AY 2008-09

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary ()

For Appellant: Mr. Dalpat Shah & Mr. B.S. SharmaFor Respondent: Mr. Ujjawal Kumar Chavan, Sr. DR
Section 143(3)Section 14ASection 36Section 36(1)(vii)

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL

D.C.I.T., Circle-6(1), Kolkata vs. M/S Birla Corporation Ltd., Kolkata

In the result, the appeal of the revenue as well as cross-objection of the assessee are partly allowed

ITA 1964/KOL/2019[2015-16]Status: DisposedITAT Kolkata16 Jan 2024AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawali.T.A. No.1964/Kol/2019 Assessment Year: 2015-16 Dcit, Circle-6(1), Kolkata…………….......................…...……………....Appellant Vs. M/S Birla Corporation Ltd…………...........…..........................…..…..... Respondent Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] C.O. 39/Kol/2019 (A/O I.T.A. No.1964/Kol/2019) Assessment Year: 2015-16 M/S Birla Corporation Ltd…………...........….....................…..…..... Cross-Objector Birla Building, 9/1, R.N. Mukherjee Road, Kolkata – 700001. [Pan: Aabcb2075J] Vs Dcit, Circle-6(1), Kolkata…………….......................…...……………....Respondent Appearances By: Shri Abhijit Kundu, Cit-Dr, Advocate, Appeared On Behalf Of The Department. Shri J. P. Khaitan, Sr. Counsel, Appeared On Behalf Of The Assessee. Date Of Concluding The Hearing : October 18, 2023 Date Of Pronouncing The Order : January 16, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal By The Revenue & The Corresponding Cross Objections By The Assessee Have Been Preferred Against The Order Dated 30.05.2019 Of The Commissioner Of Income Tax (Appeals)-22, Kolkata [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). First, We Take Up Revenue’S Appeal Ita No.1964/Kol/2019. I.T.A. No.1964/Kol/2019 & C.O. 39/Kol/2019 M/S Birla Corporation Ltd

Section 115JSection 14ASection 250Section 80I

आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘सी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH KOLKATA "ी संजय गग

Ecokrin Hygiene Private Limited, Mumbai vs. Deputy Commissioner of Income Tax Circle-6(1)(1), Mumbai

The appeal of the assessee is allowed

ITA 3006/MUM/2023[2013-14]Status: DisposedITAT Mumbai16 Jan 2024AY 2013-14

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

For Appellant: Ms. Dinkle Hariya a/w Ms. RashmiFor Respondent: 11.01.2024
Section 14ASection 41(1)

scrutiny and the statutory notices were duly served on the assessee. The AO completed the assessment by making the following disallowances: (1) Disallowance under section 14A – Rs. 4,11,451/- (2) Business Promotion Expenses – Rs. 8,67,047/- (3) Cessation of Liability under section

DCIT-1(1)(2), Mumbai vs. M/S Hindustan Petroleum Corporation Ltd., Mumbai

ITA 3913/MUM/2019[2014-15]Status: DisposedITAT Mumbai16 Jan 2024AY 2014-15
For Respondent: Date
Section 143(3)Section 14ASection 14A(2)Section 154Section 250

order, dated 19/03/2019, passed by the CIT(A). 2.2. The Assessee has raised the following grounds of appeal in ITA No. 3195/Mum/2019: "1. Disallowance under Section 14A(2) read with Rule 8D. The Appellant submits that on the facts and in the circumstances of the case and true interpretation ... with Rule 8D(2)(i) & 8D(2)(ii) of the Income Tax Rules, 1962 [for short `the Rules'], respectively (c) re-computed the disallowance under Section 14A read with Rule 8D(2)(iii) of the Rules by considering yielding exempt income, and (d) deleted the addition

Hindustan Petroleum Corp Ltd, Mumbai vs. DCIT 1(1)(2), Mumbai

ITA 3195/MUM/2019[2014-15]Status: DisposedITAT Mumbai16 Jan 2024AY 2014-15

Bench: us. 2.

For Appellant: Shri P.J. PardiwalaFor Respondent: Shri Biswanath Das
Section 143(3)Section 14ASection 14A(2)Section 154Section 250

order, dated 19/03/2019, passed by the CIT(A). 2.2. The Assessee has raised the following grounds of appeal in ITA No. 3195/Mum/2019: “1. Disallowance under Section 14A(2) read with Rule 8D. The Appellant submits that on the facts and in the circumstances of the case and true interpretation ... with Rule 8D(2)(i) & 8D(2)(ii) of the Income Tax Rules, 1962 [for short „the Rules‟], respectively (c) re-computed the disallowance under Section 14A read with Rule 8D(2)(iii) of the Rules by considering yielding exempt income, and (d) deleted the addition