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“disallowance u/s 14A”

DisallowancesSection 14ASection 14A2,938 judgments

The decision most relied on for disallowance u/s 14A is CIT v. Corrtech Energy (P.) Ltd. (223 Taxmann 130), cited in 579 judgments on BharatTax.

Leading authorities on disallowance u/s 14A

CIT v. Corrtech Energy (P.) Ltd.
223 Taxmann 130 · 2014 · High Court
579
citing judgments

Disallowance under Section 14A read with Rule 8D is not warranted if the assessee has not earned any exempt income in the relevant assessment year.

CIT v. Gem Plus Jewellery India Ltd.
330 ITR 175 · 2011 · High Court
207
citing judgments

Disallowances made under various sections, such as for PF/ESIC contributions, result in an increase in business profits, and these enhanced profits are eligible for deduction under Sections 10A and 10AA. Similarly, gains from foreign exchange fluctuations directly linked to export sales are also eligible for deduction under Section 10A.

Cargo Motors (P.) Ltd. v. DCIT
145 Taxmann.com 641 · 2022 · High Court
46
citing judgments

The disallowance under Section 14A read with Rule 8D, particularly Rule 8D(iii) for administrative expenses, should only consider investments that have actually yielded exempt income during the relevant assessment year. Section 14A empowers the Assessing Officer to determine expenditure related to income not forming part of total income.

Sobha Developers Ltd. v. DCIT
125 Taxmann.com 72 · 2021 · High Court
44
citing judgments

Disallowance under section 14A is a notional disallowance and cannot be added back while computing Book Profits under section 115JB for Minimum Alternate Tax purposes.

Tata Industries Ltd. v. ITO
181 TTJ 600 · 2016 · ITAT
29
citing judgments

Disallowance under Section 14A cannot exceed the exempt income earned by the assessee. Even if interest expenditure is considered, it cannot be solely attributed to earning exempt dividend income as investors also consider potential capital gains.

PCIT v. J.J. Glastronics (P.) Ltd.
139 Taxmann.com 375 · 2022 · High Court
28
citing judgments

Additions made under Section 14A of the Income-tax Act, read with Rule 8D, cannot be considered for computing book profit under Section 115JB of the Act.

M/s.Bajaj Allianz General Insurance Co. Ltd. v. ACIT
38 DTR 282 · 2010 · Reported
26
citing judgments

Section 14A of the Income-tax Act is not applicable to insurance businesses governed by specific provisions of Section 44 and Schedule 1. Profit on sale of investments by insurance companies is not taxable, especially after the deletion of sub-rule (b) of Rule 5 of the First Schedule.

PCIT v. Dipesh Lalchand Shah
143 Taxmann.com 419 · 2022 · High Court
18
citing judgments

Disallowance under section 14A cannot be made if the assessee has not earned any exempt income in the relevant assessment year. This applies even if the assessee has made investments in shares or has income from a partnership that is negative.

Judgments citing disallowance u/s 14A

Steel Authority of India Ltd., New Delhi vs. Addl. CIT, Range- 9, New Delhi

In the result, appeal of the assessee is allowed

ITA 2563/DEL/2018[2010-11]Status: DisposedITAT Delhi13 Jun 2023AY 2010-11

Bench: Sh. Anil Chaturvedi & Sh. Chandra Mohan Gargsteel Authority Of India Vs. Acit Ltd., Taxation Dept., Range – 9 4Th Floor, Ispat Bhavan, New Delhi Lodhi Road, New Delhi Pan No. Aaacs 7062 F (Appellant) (Respondent) Assessee By Shri M. P. Rastogi, Adv. Revenue By Shri Amaresh Singh, Cit-D.R. Date Of Hearing: 12.05.2023 Date Of Pronouncement: 13.06.2023

Section 143(3)Section 14ASection 250

Grounds raised in the present appeal, Learned AR submitted that this is the third round of litigation in respect of; (i) disallowance u/s 14A of the Act (ii) credit for TDS as claimed in the revised return as per 26AS statement. Steel Authority of India Ltd.. vs. ACIT ... issue by observing as under: “I have considered this issue and the arguments of the Ld. ARs of the appellant, Ld. AO made disallowance u/s 14A read with rule 8D without discussing the issue in his assessment order. This issue has already been travelled before the Hon'ble ITAT

Piramal Capital & Housing Finance Limited (Formerly Known As Dewan Housing Finance Corporation Limited), Mumbai vs. Assistant Commissioner of Income-Tax Central Circle 5(4), Mumbai

In the result, appeal of the assessee is allowed to the extent indicated hereinabove

ITA 199/MUM/2023[2017-18]Status: DisposedITAT Mumbai12 Jun 2023AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shri Kuldip Singh, Jm Piramal Capital & Housing Finance Limited The Asst. Commissioner Of (Formerly Known As Dewan Income-Tax Housing Finance Corporation Room No. 1927, Limited) 19 Th Floor, 4Th Floor, Piramal Tower Vs. Air India Building, Ganpatrao Kadam Marg, Nariman Point, Delisle Road, Mumbai-400 021 S.O. Mumbai Mumbai-400 013 (Appellant) (Respondent) Pan No. Aaacd1977A

For Appellant: Mr. Ronak Doshi &For Respondent: Mr. K.C. Selvamani, CIT DR
Section 14Section 143(3)Section 14A

natural justice. WITHOUT PREJUDICE TO GROUND NO. I, II AND III, Piramal Capital & Housing Finance Limited; A.Y. 17-18 GROUND NO. IV: DISALLOWANCE U/S 14A R.W.R. 8D AMOUNTING TO RS. 3,65,56,216/ 1. On the facts and circumstances of the case and in law. the Id. AO erred ... making disallowance u/s 14A of the Act r.w.r. 8D amounting to Rs. 3,65,56,216/- 2. The AO, inter-alla, failed to appreciate and ought to have held that: i. Disallowance u/s 14A of the Act can be made only for the expenditure incurred in relation to earning exempt

DCIT, Centralcircle-1, New Delhi vs. Blue Coast Hotels Ltd, New Delhi

In the result, the appeal filed by the Revenue in ITA No

ITA 2850/DEL/2022[2017-18]Status: DisposedITAT Delhi12 Jun 2023AY 2017-18

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma[Assessment Year: 2017-18]

For Appellant: Ms. Akansha Birla, CAFor Respondent: Ms. Parmita M. Biswas, CIT- DR
Section 14A

substance of the grievance of the Revenue is that the ld. CIT(A) erred in restricting the disallowance u/s 14A r.w.r 8D of the Act to Rs. 99,693/- against disallowance of Rs. 2,31,39,000/- made by the Assessing Officer. 3. Briefly stated, the facts of the case ... dividend amounting to Rs. 99,693/- only. 5. Referring to various judicial decisions, the Id. CIT(A) was of the opinion that the disallowance u/s 14A r.w.r.r 8D cannot exceed the exempt income and, accordingly, directed the Assessing Officer to restrict the dividend to Rs. 99,693/-. 6. Before

DCIT, Central Circle-20, New Delhi vs. Avantha Realty Ltd (Previous Known As Janpath Investment & Holding Ltd), Delhi

In the result, the appeal of the assessee as well as of the revenue are dismissed

ITA 1333/DEL/2022[2004-05]Status: DisposedITAT Delhi09 Jun 2023AY 2004-05

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumarassessment Year: 2004-05 The Dcit, Central Circle-20, Delhi Avantha Realty Ltd., (Previous Known As Janpath Vs. Investment & Holding Ltd.) 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent) Assessment Year: 2004-05 Avantha Realty Ltd., The Dcit, Central Circle-20, Delhi (Previous Known As Janpath Investment & Holding Ltd.) Vs. 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent)

For Appellant: Shri Upvan Gupta, Adv

Delhi High Court in the matter of Joint Investments Private Limited wherein the Hon' ble High Court ruled that the disallowance u/s 14A cannot exceed exempt income, 5. The Ld. CIT(A) has erred on facts and in law by ignoring the CBDT circular no. 5/2014 dated 11.02.2014, which ... Delhi High Court in the matter of Joint Investments Private Limited wherein the Hon'ble High Court ruled that the disallowance u/s 14A cannot exceed exempt income, by ignoring the CBDT circular no. 5/2014 dated 11.02.2014, which has been clarified by the amendment made in the section 14A

Avantha Realty Limited (Previously Known As Janpath Investment & Holding Ltd.), Gurgaon vs. ACIT Central Circle-20, Delhi

In the result, the appeal of the assessee as well as of the revenue are dismissed

ITA 1196/DEL/2022[2004-2005]Status: DisposedITAT Delhi09 Jun 2023AY 2004-2005

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumarassessment Year: 2004-05 The Dcit, Central Circle-20, Delhi Avantha Realty Ltd., (Previous Known As Janpath Vs. Investment & Holding Ltd.) 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent) Assessment Year: 2004-05 Avantha Realty Ltd., The Dcit, Central Circle-20, Delhi (Previous Known As Janpath Investment & Holding Ltd.) Vs. 124, Thapar House, Janpath, Central Delhi 110001 Pan Aaacj 8030 A (Appellant) (Respondent)

For Appellant: Shri Upvan Gupta, Adv

Delhi High Court in the matter of Joint Investments Private Limited wherein the Hon' ble High Court ruled that the disallowance u/s 14A cannot exceed exempt income, 5. The Ld. CIT(A) has erred on facts and in law by ignoring the CBDT circular no. 5/2014 dated 11.02.2014, which ... Delhi High Court in the matter of Joint Investments Private Limited wherein the Hon'ble High Court ruled that the disallowance u/s 14A cannot exceed exempt income, by ignoring the CBDT circular no. 5/2014 dated 11.02.2014, which has been clarified by the amendment made in the section 14A

Idbi Capital Markets & Securities Ltd, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeal for AY 2013-14 is allowed, appeal for AY

ITA 871/MUM/2023[2020-21]Status: DisposedITAT Mumbai31 May 2023AY 2020-21

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 (निर्धारणवर्ा / Assessment Year 2013-14, 2014-15, 2016-17, 2017-18 & 2020-21) Idbi Capital Markets Deputy Commissioner Of Income Tax 4(1) (1) & Securities Limited बिधम/ Room No. 640, 6Th Floor, Aayakar 6Th Floor, Idbi Tower, Wtc Vs. Bhavan, M. K. Road Complex, Cuffe Parade, Mumbai- 400 020 Mumbai-400 005 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaci1268F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Mr. Madhur Agrawal, Adv. प्रत्यथीकीओरसे/Respondent By : Mr. Krishna Kumar, Sr. Ar सुनवाईकीतारीख/ : 31.05.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.05.2023

For Appellant: Mr. Madhur Agrawal, AdvFor Respondent: Mr. Krishna Kumar, Sr. AR
Section 10(38)Section 143(3)Section 14A

ground for AY 2013-14, 2014-15, 2016-17 and 2017-18, the common issue is raised with regard to disallowance u/s 14A of the Act. 3. Before us, the ld. Counsel for the assessee Mr. Madhur Agrawal submitted that assessee has earned dividend income ... claimed as exempt and therefore, 3 I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 IDBI CAPITAL MARKETS & SECURITIES LIMITED there is no question of any disallowance u/s 14A of the Act. Further, in AY 2016-17, the dividend income was Rs.25,08,400/-. Again the assessee has not claimed any exemption u/s

Idbi Capital Markets & Securities Ltd, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeal for AY 2013-14 is allowed, appeal for AY

ITA 870/MUM/2023[2017-18]Status: DisposedITAT Mumbai31 May 2023AY 2017-18

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 (निर्धारणवर्ा / Assessment Year 2013-14, 2014-15, 2016-17, 2017-18 & 2020-21) Idbi Capital Markets Deputy Commissioner Of Income Tax 4(1) (1) & Securities Limited बिधम/ Room No. 640, 6Th Floor, Aayakar 6Th Floor, Idbi Tower, Wtc Vs. Bhavan, M. K. Road Complex, Cuffe Parade, Mumbai- 400 020 Mumbai-400 005 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaci1268F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Mr. Madhur Agrawal, Adv. प्रत्यथीकीओरसे/Respondent By : Mr. Krishna Kumar, Sr. Ar सुनवाईकीतारीख/ : 31.05.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.05.2023

For Appellant: Mr. Madhur Agrawal, AdvFor Respondent: Mr. Krishna Kumar, Sr. AR
Section 10(38)Section 143(3)Section 14A

ground for AY 2013-14, 2014-15, 2016-17 and 2017-18, the common issue is raised with regard to disallowance u/s 14A of the Act. 3. Before us, the ld. Counsel for the assessee Mr. Madhur Agrawal submitted that assessee has earned dividend income ... claimed as exempt and therefore, 3 I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 IDBI CAPITAL MARKETS & SECURITIES LIMITED there is no question of any disallowance u/s 14A of the Act. Further, in AY 2016-17, the dividend income was Rs.25,08,400/-. Again the assessee has not claimed any exemption u/s

Idbi Capital Markets & Securities Ltd, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeal for AY 2013-14 is allowed, appeal for AY

ITA 869/MUM/2023[2016-19]Status: DisposedITAT Mumbai31 May 2023AY 2016-19

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 (निर्धारणवर्ा / Assessment Year 2013-14, 2014-15, 2016-17, 2017-18 & 2020-21) Idbi Capital Markets Deputy Commissioner Of Income Tax 4(1) (1) & Securities Limited बिधम/ Room No. 640, 6Th Floor, Aayakar 6Th Floor, Idbi Tower, Wtc Vs. Bhavan, M. K. Road Complex, Cuffe Parade, Mumbai- 400 020 Mumbai-400 005 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaci1268F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Mr. Madhur Agrawal, Adv. प्रत्यथीकीओरसे/Respondent By : Mr. Krishna Kumar, Sr. Ar सुनवाईकीतारीख/ : 31.05.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.05.2023

For Appellant: Mr. Madhur Agrawal, AdvFor Respondent: Mr. Krishna Kumar, Sr. AR
Section 10(38)Section 143(3)Section 14A

ground for AY 2013-14, 2014-15, 2016-17 and 2017-18, the common issue is raised with regard to disallowance u/s 14A of the Act. 3. Before us, the ld. Counsel for the assessee Mr. Madhur Agrawal submitted that assessee has earned dividend income ... claimed as exempt and therefore, 3 I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 IDBI CAPITAL MARKETS & SECURITIES LIMITED there is no question of any disallowance u/s 14A of the Act. Further, in AY 2016-17, the dividend income was Rs.25,08,400/-. Again the assessee has not claimed any exemption u/s

Idbi Capital Markets & Securities Ltd, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeal for AY 2013-14 is allowed, appeal for AY

ITA 868/MUM/2023[2014-15]Status: DisposedITAT Mumbai31 May 2023AY 2014-15

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 (निर्धारणवर्ा / Assessment Year 2013-14, 2014-15, 2016-17, 2017-18 & 2020-21) Idbi Capital Markets Deputy Commissioner Of Income Tax 4(1) (1) & Securities Limited बिधम/ Room No. 640, 6Th Floor, Aayakar 6Th Floor, Idbi Tower, Wtc Vs. Bhavan, M. K. Road Complex, Cuffe Parade, Mumbai- 400 020 Mumbai-400 005 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaci1268F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Mr. Madhur Agrawal, Adv. प्रत्यथीकीओरसे/Respondent By : Mr. Krishna Kumar, Sr. Ar सुनवाईकीतारीख/ : 31.05.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.05.2023

For Appellant: Mr. Madhur Agrawal, AdvFor Respondent: Mr. Krishna Kumar, Sr. AR
Section 10(38)Section 143(3)Section 14A

ground for AY 2013-14, 2014-15, 2016-17 and 2017-18, the common issue is raised with regard to disallowance u/s 14A of the Act. 3. Before us, the ld. Counsel for the assessee Mr. Madhur Agrawal submitted that assessee has earned dividend income ... claimed as exempt and therefore, 3 I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 IDBI CAPITAL MARKETS & SECURITIES LIMITED there is no question of any disallowance u/s 14A of the Act. Further, in AY 2016-17, the dividend income was Rs.25,08,400/-. Again the assessee has not claimed any exemption u/s

Idbi Capital Markets & Securities Ltd, Mumbai vs. DCIT RG 4(1)(1), Mumbai

In the result, appeal for AY 2013-14 is allowed, appeal for AY

ITA 866/MUM/2023[2013-14]Status: DisposedITAT Mumbai31 May 2023AY 2013-14

Bench: Shri Amit Shukla, Jm & Shri Amarjit Singh, Am आयकरअपीलसं./ I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 (निर्धारणवर्ा / Assessment Year 2013-14, 2014-15, 2016-17, 2017-18 & 2020-21) Idbi Capital Markets Deputy Commissioner Of Income Tax 4(1) (1) & Securities Limited बिधम/ Room No. 640, 6Th Floor, Aayakar 6Th Floor, Idbi Tower, Wtc Vs. Bhavan, M. K. Road Complex, Cuffe Parade, Mumbai- 400 020 Mumbai-400 005 स्थायीलेखासं./जीआइआरसं./Pan No. Aaaci1268F (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Mr. Madhur Agrawal, Adv. प्रत्यथीकीओरसे/Respondent By : Mr. Krishna Kumar, Sr. Ar सुनवाईकीतारीख/ : 31.05.2023 Date Of Hearing घोषणाकीतारीख / Date Of Pronouncement : 31.05.2023

For Appellant: Mr. Madhur Agrawal, AdvFor Respondent: Mr. Krishna Kumar, Sr. AR
Section 10(38)Section 143(3)Section 14A

ground for AY 2013-14, 2014-15, 2016-17 and 2017-18, the common issue is raised with regard to disallowance u/s 14A of the Act. 3. Before us, the ld. Counsel for the assessee Mr. Madhur Agrawal submitted that assessee has earned dividend income ... claimed as exempt and therefore, 3 I.T.A. No.866, 868, 869, 870 & 871/Mum/2023 IDBI CAPITAL MARKETS & SECURITIES LIMITED there is no question of any disallowance u/s 14A of the Act. Further, in AY 2016-17, the dividend income was Rs.25,08,400/-. Again the assessee has not claimed any exemption u/s

National Securities Depositary Ltd, Mumbai vs. Asst Comm of Income Tax-7(2)(2), Mumbai

ITA 287/MUM/2023[2017-18]Status: DisposedITAT Mumbai31 May 2023AY 2017-18

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2017-18

For Appellant: Shri Madhur Agarwal, A.RFor Respondent: Shri Chetan Kacha, Sr. A.R
Section 115JSection 144Section 14ASection 485

average value of 485.99 investment Disallowance under Section 485.99 14A (1 + 3) Less: Disallowance suo 27.10 moto made in R.O.I. Disallowance u/s. 14A r.w. 458.89 Rule 8D to be made Therefore disallowance u/s 14A r.w.Rule 8D of Rs.4,58,89,000/- is hereby made and added to total income

M/S. Podar Advisory & Consulting Enterprise P Ltd., Mumbai vs. Income Tax Officer-2(2)(4), Mumbai

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

ITA 162/MUM/2023[2016-17]Status: DisposedITAT Mumbai31 May 2023AY 2016-17
For Appellant: Shri Bharat Andhale
Section 143(3)Section 14A

Podar Advisory & Consulting Enterprise P. Ltd ‘the Act’) dated 28.11.2018 after making an addition of Rs. 17,99,581/- on account of disallowance u/s 14A of the Act r.w.Rule 8D of the Income Tax Rules, 1962 (hereinafter ‘the Rules’) on the ground that the appellant company has incurred interest expenditure ... found by AO that the assessee has not earned any exempt income in the relevant assessment year, then no disallowance u/s 14A of the Act r.w.Rule 8D is warranted. And assessee is at liberty to raise the other grounds in the event assessee doesn’t succeed in the ground number

Thomas Cook (India) Ltd, Mumbai vs. Dy CIT 1 (3)92), Mumbai

In the result, the appeal filed by the assessee is a In the result, the appeal filed by the assessee is a In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 7807/MUM/2019[2015-16]Status: DisposedITAT Mumbai31 May 2023AY 2015-16

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2015-16 Thomas Cook (India) Ltd., Dy. Cit-1(3)(2), A Wing, 11Th Floor, Marathon Room No. 540, 5Th Floor, Vs. Futurex, N.M. Joshi Marg, Aayakar Bhavan, M.K. Lower Parel (East), Road, Mumbai-400013. Mumbai-400020. Pan No. Aaact 4050 C Appellant Respondent Assessee By : Mr. Ketan Ved Revenue By : Ms. Richa Gulati, Dr : Date Of Hearing 30/05/2023 : Date Of Pronouncement 31/05/2023 Order

For Appellant: Mr. Ketan VedFor Respondent: Ms. Richa Gulati, DR
Section 115Section 115JSection 14ASection 37(1)

other issues, inter Ld. Assessing Officer also proposed additions on other issues, Ld. Assessing Officer also proposed additions on other issues, alia,disallowance u/s 14A of the Act, the disallowance of employee disallowance u/s 14A of the Act, the disallowance of employee disallowance u/s 14A of the Act, the disallowance ... however retained the di however retained the disallowance for employees share option sallowance for employees share option scheme expenses as well as disallowance u/s 14A r.s.r. 8D of the scheme expenses as well as disallowance u/s 14A r.s.r. 8D of the scheme expenses as well as disallowance u/s 14A r.s.r

ACIT Circle-3 (3)(2), Mumbai vs. M/S Solitaire Appliances Pvt Ltd., Mumbai

In the result, the appeals of the assessee for assessment year

ITA 7559/MUM/2019[2016-17]Status: DisposedITAT Mumbai31 May 2023AY 2016-17

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant ()

For Appellant: Mr. Jay Dharod
Section 36(1)Section 36(1)(iii)

Assessing Officer proposed though the Assessing Officer proposed Solitaire Appliances Pvt. Ltd. 4 ITA Nos. 5855 & 5856/Mum/2016 & Ors. ITA Nos. 5855 & 5856/Mum/2016 & Ors. disallowance u/s 14A of the Act disallowance u/s 14A of the Act, however no addition was made in however no addition was made in the computation ... justified in deleting the and in law, the Ld. CIT(A) was justified in deleting the disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s 14A is called for in respect

Solitaire Appliances Pvt. Ltd., Mumbai vs. Dy. CIT 3 (3)(3), Mumbai

In the result, the appeals of the assessee for assessment year

ITA 5855/MUM/2019[2013-14]Status: DisposedITAT Mumbai31 May 2023AY 2013-14

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant ()

For Appellant: Mr. Jay Dharod
Section 36(1)Section 36(1)(iii)

Assessing Officer proposed though the Assessing Officer proposed Solitaire Appliances Pvt. Ltd. 4 ITA Nos. 5855 & 5856/Mum/2016 & Ors. ITA Nos. 5855 & 5856/Mum/2016 & Ors. disallowance u/s 14A of the Act disallowance u/s 14A of the Act, however no addition was made in however no addition was made in the computation ... justified in deleting the and in law, the Ld. CIT(A) was justified in deleting the disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s 14A is called for in respect

Deputy Commissioner of Income Tax-3(3)(2), Mumbai vs. M/S. Solitaire Appliances Pvt. Ltd, Mumbai

In the result, the appeals of the assessee for assessment year

ITA 5587/MUM/2019[2015-16]Status: DisposedITAT Mumbai31 May 2023AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant ()

For Appellant: Mr. Jay Dharod
Section 36(1)Section 36(1)(iii)

Assessing Officer proposed though the Assessing Officer proposed Solitaire Appliances Pvt. Ltd. 4 ITA Nos. 5855 & 5856/Mum/2016 & Ors. ITA Nos. 5855 & 5856/Mum/2016 & Ors. disallowance u/s 14A of the Act disallowance u/s 14A of the Act, however no addition was made in however no addition was made in the computation ... justified in deleting the and in law, the Ld. CIT(A) was justified in deleting the disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s disallowance u/s 14A by holding that no disallowance u/s 14A is called for in respect

Ahmednagar Investments Pvt. Ltd., Mumbai vs. DCIT, CC- 5(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 7126/MUM/2018[2014-15]Status: DisposedITAT Mumbai31 May 2023AY 2014-15

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanvk-Vk-La- 7125@Eaqcbz@2018 ¼Fu-Oa- 2013&14½ Vk-Vk-La- 7126@Eaqcbz@2018 ¼Fu-Oa- 2014&15½ M/S Ahmednagar Investments Pvt. Ltd. 11/12, Raghuvanshi Mill Compound, Senapati Bapat Marg, Lower Parel Mumbai-400 013 ..... Vihykfkhz/Appellant Pan No. Aadca9872E Cuke Vs. Deputy Commissioner Of Income Tax, Circle– 5(3) Room No.1906, 19Th Floor, Air India Building, Nariman Point, ..... Izfroknh/Respondent Mumbai-400 021

For Appellant: Shri Neelkanth Khandelwal izfroknh }kjk@For Respondent: Shri Ashok Kumar Kardam, CIT-DR
Section 10(38)Section 115JSection 143(3)Section 154

details of capital gains, scrip wise dividend income, Demat statement reflecting purchase and sale of shares, computation of book profit, computation of disallowance u/s 14A of the Act, etc. The assessee furnished the information/details as sought by the CIT(A) and reiterated the request for withdrawal of the appeal

Ahmednagar Investments Pvt. Ltd., Mumbai vs. DCIT, CC- 5(3), Mumbai

In the result, appeal of the assessee is allowed

ITA 7125/MUM/2018[2013-14]Status: DisposedITAT Mumbai31 May 2023AY 2013-14

Bench: Shri Vikas Awasthy & Shri S Rifaur Rahmanvk-Vk-La- 7125@Eaqcbz@2018 ¼Fu-Oa- 2013&14½ Vk-Vk-La- 7126@Eaqcbz@2018 ¼Fu-Oa- 2014&15½ M/S Ahmednagar Investments Pvt. Ltd. 11/12, Raghuvanshi Mill Compound, Senapati Bapat Marg, Lower Parel Mumbai-400 013 ..... Vihykfkhz/Appellant Pan No. Aadca9872E Cuke Vs. Deputy Commissioner Of Income Tax, Circle– 5(3) Room No.1906, 19Th Floor, Air India Building, Nariman Point, ..... Izfroknh/Respondent Mumbai-400 021

For Appellant: Shri Neelkanth Khandelwal izfroknh }kjk@For Respondent: Shri Ashok Kumar Kardam, CIT-DR
Section 10(38)Section 115JSection 143(3)Section 154

details of capital gains, scrip wise dividend income, Demat statement reflecting purchase and sale of shares, computation of book profit, computation of disallowance u/s 14A of the Act, etc. The assessee furnished the information/details as sought by the CIT(A) and reiterated the request for withdrawal of the appeal

Icici Home Finance Company Ltd, Mumbai vs. Addl CIT 10(1), Mumbai

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

ITA 5949/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 May 2023AY 2010-11
Section 14ASection 201Section 250Section 36(1)(viii)Section 37(1)Section 40Section 43A

Therefore, AO has computed the disallowance in accordance with the Sub Rule 2 of Rule 8D of the IT Rule, 1962 and computed disallowance u/s 14A to the amount of Rs 11,76,80,199/- and added to the total income of the assessee. 5 The assessee filed appeal before

DCIT 10(1), Mumbai vs. Icici Home Finance Co. Ltd, Mumbai

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

ITA 5906/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 May 2023AY 2010-11
Section 14ASection 201Section 250Section 36(1)(viii)Section 37(1)Section 40Section 43A

Therefore, AO has computed the disallowance in accordance with the Sub Rule 2 of Rule 8D of the IT Rule, 1962 and computed disallowance u/s 14A to the amount of Rs 11,76,80,199/- and added to the total income of the assessee. 5 The assessee filed appeal before