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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

N.K. Industries Ltd., Ahmedabad vs. The Dy.CIT, Circle-3(1)(1), Ahmedabad

In the result, the appeal of the assessee on this ground is allowed

ITA 447/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad25 Apr 2025AY 2010-11

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

For Appellant: NK Industries Ltd (Cross Appeals)
Section 250

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE PRESIDENT MS. SUCHITRA KAMBLE, JUDICIAL MEMBER

The Dy.CIT, Circle-3(1)(1)., Ahmedabad vs. N.K. Industries Ltd., Ahmedabad

In the result, the appeal of the assessee on this ground is allowed

ITA 443/AHD/2023[2013-14]Status: DisposedITAT Ahmedabad25 Apr 2025AY 2013-14

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

For Appellant: NK Industries Ltd (Cross Appeals)
Section 250

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE PRESIDENT MS. SUCHITRA KAMBLE, JUDICIAL MEMBER

The Dy.CIT, Circle-3(1)(1)., Ahmedabad vs. N.K. Industries Ltd., Ahmedabad

In the result, the appeal of the assessee on this ground is allowed

ITA 442/AHD/2023[2010-11]Status: DisposedITAT Ahmedabad25 Apr 2025AY 2010-11

Bench: Dr. B.R.R. Kumarms. Suchitra Kamble

For Appellant: NK Industries Ltd (Cross Appeals)
Section 250

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE PRESIDENT MS. SUCHITRA KAMBLE, JUDICIAL MEMBER

ITO Ward - 10(4), New Delhi vs. Ghp Buildcon Pvt Ltd, New Delhi

In the result, the revenue’s appeal stands dismissed as above

ITA 2622/DEL/2019[2014-15]Status: DisposedITAT Delhi25 Apr 2025AY 2014-15

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishraita No. 2622/Del/2018, A.Y. 2013-14 Ita No. 2623/Del/2018, A.Y. 2014-15 Ita No. 7981/Del/2018, A.Y. 2015-16 C & S Electric Limited Deputy Commissioner Of 222, Okhla Industrial Estate Income Tax, Phase-Iii, New Delhi Vs. Circle-1, Ltu, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Ita No. 2532/Del/2018, A.Y.2013-14 Ita No. 2533/Del/2018, A.Y.2014-15 Ita No. 8274/Del/2018, A.Y.2015-16 Deputy Commissioner Of C & S Electric Limited Income Tax, (Formerly Controls & Circle-1, Ltu, Vs. Switchgear Co. Ltd.) New Delhi 222, Okhla Industrial Estate, Phase-Iii, New Delhi Pan: Aaacc0909K (Appellant) (Respondent) Appellant By Sh. Anil Bhalla, Ca Respondent By Sh. Rajesh Kumar Dhanesta, Sr. Dr Date Of Hearing 05/06/2025 Date Of Pronouncement 30/06/2025 Order Per Bench Cross Appeal By The Assessee & Revenue Containing Common Facts Were Heard Together Being Inter-Connected With Each Other & Are Being Disposed Off By This Common Order. Ita No.2532, 2533 & 8274/Del/2018 C & S Electric Ltd. 2. These Appeals Filed By The Assessee & Revenue Are Directed Against Orders Dated 10.01.18 & 25.09.2018 Respectively Of The Commissioner Of Income Tax (Appeals)-22, New Delhi [‘Cit(A)’].

Section 10ASection 14ASection 80Section 80I

10AA 3 On account of sale of scrap by 29,57,724/- SEZ unit u/s 10AA 4 On a/c of disallowance u/s 14A 49,82,586/- 5 On a/c of foreign travelling 13,42,417/- 6 On a/c of depreciation on 1,09,592/- goodwill 7 Club Membership fees

Housing & Urban Development Corporation Ltd, New Delhi vs. Addl. CIT, Range-4, New Delhi

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

ITA 7865/DEL/2018[2007-08]Status: DisposedITAT Delhi25 Apr 2025AY 2007-08

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Disallowance u/s 14A. 3. The Ld. CIT (A) has erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Revenue Derecognition in Accounts ... Corpn] [A.Ys 2005-06 to 2009-10] 11. Ground No. 2 pertains to deletion of addition made by the Assessing Officer being disallowance u/s 14A of the Act. 12. At the very outset, the ld. counsel for the assessee vehemently contended that the issue pertaining to disallowance u/s 14A

Housing & Urban Development Corporation Ltd (Hudco), New Delhi vs. Addl. CIT, Range-4, New Delhi

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

ITA 7629/DEL/2018[2009-10]Status: DisposedITAT Delhi25 Apr 2025AY 2009-10

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Disallowance u/s 14A. 3. The Ld. CIT (A) has erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Revenue Derecognition in Accounts ... Corpn] [A.Ys 2005-06 to 2009-10] 11. Ground No. 2 pertains to deletion of addition made by the Assessing Officer being disallowance u/s 14A of the Act. 12. At the very outset, the ld. counsel for the assessee vehemently contended that the issue pertaining to disallowance u/s 14A

Housing & Urban Development Corporation Ltd (Hudco), New Delhi vs. Addl. CIT, Special Range-4, New Delhi

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

ITA 7628/DEL/2018[2008-09]Status: DisposedITAT Delhi25 Apr 2025AY 2008-09

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Disallowance u/s 14A. 3. The Ld. CIT (A) has erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Revenue Derecognition in Accounts ... Corpn] [A.Ys 2005-06 to 2009-10] 11. Ground No. 2 pertains to deletion of addition made by the Assessing Officer being disallowance u/s 14A of the Act. 12. At the very outset, the ld. counsel for the assessee vehemently contended that the issue pertaining to disallowance u/s 14A

Housing & Urban Development Corporation Ltd (Hudco), New Delhi vs. Addl. CIT, Range-4, New Delhi

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

ITA 7626/DEL/2018[2005-06]Status: DisposedITAT Delhi25 Apr 2025AY 2005-06

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Disallowance u/s 14A. 3. The Ld. CIT (A) has erred in facts and in law by not deleting the addition made by Ld. Assessing Officer being Revenue Derecognition in Accounts ... Corpn] [A.Ys 2005-06 to 2009-10] 11. Ground No. 2 pertains to deletion of addition made by the Assessing Officer being disallowance u/s 14A of the Act. 12. At the very outset, the ld. counsel for the assessee vehemently contended that the issue pertaining to disallowance u/s 14A

Mayfair Villa Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 11(1), Kolkata

In the result, the appeal of the assessee is allowed for statistical purposes regarding issue no

ITA 1407/KOL/2024[2012-2013]Status: DisposedITAT Kolkata24 Apr 2025AY 2012-2013

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 143(1)Section 143(2)Section 14ASection 43Section 50CSection 68

perused the order of Ld. CIT(A) as well as the AO and find that there are additions u/s 68 of the Act, disallowance u/s 14A and u/s 50C of the Act as there was mis-match in the AIR. i) First issue regarding addition u/s

Deputy Commissioner of Income Tax-4(3)(1), Mumbai vs. Kismet Exports and Investments Pvt Ltd., Mumbai

In the result, the appeal of the Revenue is dismissed

ITA 5520/MUM/2024[2012-13]Status: DisposedITAT Mumbai24 Apr 2025AY 2012-13

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2012-13 Deputy Commissioner Of Income Kismet Exports & Tax-4(3)(1) Investments Pvt Ltd. 649 Aayakar Bhavan M K Road Vs. C-1/5, Sarathi Chs, Khira Mumbai-400020 Nagar, S.V.Road, Santacruz (West), Mumbai-400054 Pan No. Aacck 2895 C Appellant Respondent

For Appellant: Mr. Bupendra ShahFor Respondent: Mr. Hemanshu Joshi, Sr. DR
Section 115JSection 154Section 234B

Exports and Investments Pvt. 5 Ltd. 43,22,197/-. During the course of appeal proceedings, through the additional/modified ground, appellant submitted that the disallowance u/s. 14A be restricted to exempt income of Rs. 5,83,699/- considering the judicial pronouncements wherein it was held that the amendment to section 14A ... raised before the Assessing Officer, no adjudication is made at this end. However, duly relying on the judicial pronouncements, the disallowance u/s 14A is restricted to Rs. 41,97,668/- (Rs. 36,13,969/- already disallowed by the appellant itself + 5,83,199/-). Hence, the disallowance u/s. 14A is restricted

Dy. CIT., Circle-2(1), Gwalior vs. M/S Agro Solvent Products, Gwalior

Appeal stand allowed

ITA 348/AGR/2017[2010-11]Status: DisposedITAT Agra23 Apr 2025AY 2010-11

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

For Appellant: Sh. M.M. Agarwal, CA – Ld. ARFor Respondent: Sh. Shailender Shrivastava – Ld. Sr. DR
Section 133(6)Section 143(3)Section 40A(2)Section 43B

estimation so made could not be upheld. The assessee succeeds on this ground. 6. Lastly, the assessee is aggrieved by confirmation of disallowance u/s 14A for Rs.3.50 Lacs. It could be seen that the assessee has earned exempt income of Rs.47,617/- only which has attracted impugned disallowance

Agro Solvent Products Pvt. Ltd., Gwaliorl vs. JCIT., Range-2, Gwalior

Appeal stand allowed

ITA 334/AGR/2017[2010-11]Status: DisposedITAT Agra23 Apr 2025AY 2010-11

Bench: HON’BLE SHRI SATBEER SINGH GODARA, JM AND HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

For Appellant: Sh. M.M. Agarwal, CA – Ld. ARFor Respondent: Sh. Shailender Shrivastava – Ld. Sr. DR
Section 133(6)Section 143(3)Section 40A(2)Section 43B

estimation so made could not be upheld. The assessee succeeds on this ground. 6. Lastly, the assessee is aggrieved by confirmation of disallowance u/s 14A for Rs.3.50 Lacs. It could be seen that the assessee has earned exempt income of Rs.47,617/- only which has attracted impugned disallowance

Income Tax Officer, Ward-16(1), Hyderabad vs. Nsl Nagapatnam Power Ventures Private Limited, Hyderabad

In the result, the appeal filed by the Revenue being devoid of any substance is dismissed

ITA 28/HYD/2025[2018-19]Status: DisposedITAT Hyderabad23 Apr 2025AY 2018-19

Bench: Us :

For Appellant: Shri A.V. RaghuramFor Respondent: Dr.Sachin Kumar, Sr.DR
Section 143(2)Section 143(3)Section 14A

income on its aforesaid investment in equity shares; therefore, the A.O. called upon it to put forth an explanation as to why the disallowance u/s 14A of the Act may not be worked out in its case. In reply, the assessee company claimed that no disallowance u/s 14A was called ... favour with the A.O. The A.O. drawing support from the CBDT Circular No.5 of 2014 dated 11.02.2014, held a conviction that for invoking disallowance u/s 14A of the Act, it was not material that the assessee should have earned any exempt income during the subject year. Accordingly, the A.O. backed

Income Tax Officer, Ward-16(1), Hyderabad vs. Nsl Nagapatnam Power Ventures Private Limited, Hyderabad

In the result, the appeal filed by the Revenue being devoid of any substance is dismissed

ITA 27/HYD/2025[2017-18]Status: DisposedITAT Hyderabad23 Apr 2025AY 2017-18

Bench: Us :

For Appellant: Shri A.V. RaghuramFor Respondent: Dr.Sachin Kumar, Sr.DR
Section 143(2)Section 143(3)Section 14A

income on its aforesaid investment in equity shares; therefore, the A.O. called upon it to put forth an explanation as to why the disallowance u/s 14A of the Act may not be worked out in its case. In reply, the assessee company claimed that no disallowance u/s 14A was called ... favour with the A.O. The A.O. drawing support from the CBDT Circular No.5 of 2014 dated 11.02.2014, held a conviction that for invoking disallowance u/s 14A of the Act, it was not material that the assessee should have earned any exempt income during the subject year. Accordingly, the A.O. backed

G R N Constructions Private Limited, Nellore vs. DCIT., Circle-1, Nellore

ITA 1296/HYD/2024[2018-2019]Status: DisposedITAT Hyderabad23 Apr 2025AY 2018-2019

Bench: Us:

For Appellant: Shri Pawan KumarFor Respondent: Dr.Sachin Kumar, Sr.DR
Section 143(2)Section 143(3)Section 14ASection 234C

sale of investment: Rs.9,62,27,995/-; and (iii) Interest on tax free bonds: Rs.2,69,27,264/-, but had not offered any disallowance u/s 14A of the Act. Accordingly, the A.O. based on his deliberations recorded in the assessment order worked out the disallowance u/s 14A r.w.s. Rule ... Rs.1,41,54,646/-, as under : 4 The A.O. after working out the aforesaid disallowance u/s 14A of the Act, determined the income of the assessee company vide his order passed u/s 143(3) r.w.s. 144B of the Act on 19.04.2021 at Rs.58,93,37,456/-. 4. Aggrieved, the assessee

M/S. Jindal Brugs Private Limited, Mumbai vs. Principal Commissioner of Income Tax -3, Mumbai

In the result, the appeal of the Assessee is allowed

ITA 947/MUM/2025[2020-21]Status: DisposedITAT Mumbai23 Apr 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2020-21

For Appellant: Shri Rahul Hakkani, Ld. A.RFor Respondent: Shri Byomakesh Pradipta Kumar
Section 142(1)Section 143(3)Section 14ASection 263

Rules, 1962 (in short “the Rules”). The Ld. PCIT while relying on the CBDT Circular No.5/2014, wherein it is stated that the disallowance u/s. 14A is to be considered, even if no exempt income is earned. The Ld. PCIT further observed that moreover the assessment order was passed without making ... with any expenditure incurred towards the same. iv. Specify the applicability of section 14A of the Act, if “yes” then submit computation for disallowance u/s 14A r.w.r 8D. v. Furnish the details of actual monthly average of the monthly opening balances of value of investment (including investments in any partnership

Dy CIT, Circle -2(1), Gwalior vs. Sh. Saurabh Garg, Morena

The appeals stand dismissed

ITA 366/AGR/2017[2010-11]Status: DisposedITAT Agra22 Apr 2025AY 2010-11

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.364/Agr/2017 (िनधा"रणवष" / Assessment Year:2008-09) & 2. आयकरअपीलसं./ Ita No.365/Agr/2017 (िनधा"रणवष" / Assessment Year:2009-10) & 3. आयकरअपीलसं./ Ita No.366/Agr/2017 (िनधा"रणवष" / Assessment Year:2010-11) बनाम/ Dcit, Circle-2(1), Shri Saurabh Garg Gwalior. Tilak Road, Jiwaji Ganj, Morena. Vs. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acopg-5549-C (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. Arun Kumar Yadav – Ld. Cit-Dr " थ"कीओरसे/Respondent By : Sh. Sanjay Kumar, Ca – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 19-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 22.04.2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeals By Revenue For Assessment Years (Ay) 2008-09 To 2010-11 Having Common Issues Arises Out Of Separate Orders Of First Appellate Authority. First, We Take Up Appeal For Ay 2008-09 Wherein The Grievance Of The Revenue Is – (I) Disallowance U/S 14A; (Ii) Profit Earned From Out Of Books Investments; (Iii) Unexplained Gifts Of Shares. The Impugned Order Has Been Passed By Learned Commissioner Of Income Tax (Appeals), Gwalior [Cit(A)] On 05-06-2017 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S 143(3) R.W.S. 153A

For Appellant: Dr. Arun Kumar Yadav – Ld. CIT-DRFor Respondent: Sh. Sanjay Kumar, CA – Ld. AR
Section 132Section 143(3)Section 14ASection 56

separate orders of first appellate authority. First, we take up appeal for AY 2008-09 wherein the grievance of the revenue is – (i) disallowance u/s 14A; (ii) Profit earned from out of books investments; (iii) Unexplained gifts of shares. The impugned order has been passed by Learned Commissioner of Income ... framed. The order of Ld. CIT(A) is based on assessee’s submissions as well as remand report of Ld. AO. 2. Disallowance u/s 14A The assessee earned exempt dividend of Rs.14.57 Lacs but made interest payment of Rs.135.69 Lacs. The Ld. AO disallowed the same u/s 14A. However

Dy CIT, Circle-2(1), Gwalior vs. Sh Saurabh Gagh, Morena

The appeals stand dismissed

ITA 365/AGR/2017[2009-10]Status: DisposedITAT Agra22 Apr 2025AY 2009-10

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.364/Agr/2017 (िनधा"रणवष" / Assessment Year:2008-09) & 2. आयकरअपीलसं./ Ita No.365/Agr/2017 (िनधा"रणवष" / Assessment Year:2009-10) & 3. आयकरअपीलसं./ Ita No.366/Agr/2017 (िनधा"रणवष" / Assessment Year:2010-11) बनाम/ Dcit, Circle-2(1), Shri Saurabh Garg Gwalior. Tilak Road, Jiwaji Ganj, Morena. Vs. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acopg-5549-C (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. Arun Kumar Yadav – Ld. Cit-Dr " थ"कीओरसे/Respondent By : Sh. Sanjay Kumar, Ca – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 19-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 22.04.2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeals By Revenue For Assessment Years (Ay) 2008-09 To 2010-11 Having Common Issues Arises Out Of Separate Orders Of First Appellate Authority. First, We Take Up Appeal For Ay 2008-09 Wherein The Grievance Of The Revenue Is – (I) Disallowance U/S 14A; (Ii) Profit Earned From Out Of Books Investments; (Iii) Unexplained Gifts Of Shares. The Impugned Order Has Been Passed By Learned Commissioner Of Income Tax (Appeals), Gwalior [Cit(A)] On 05-06-2017 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S 143(3) R.W.S. 153A

For Appellant: Dr. Arun Kumar Yadav – Ld. CIT-DRFor Respondent: Sh. Sanjay Kumar, CA – Ld. AR
Section 132Section 143(3)Section 14ASection 56

separate orders of first appellate authority. First, we take up appeal for AY 2008-09 wherein the grievance of the revenue is – (i) disallowance u/s 14A; (ii) Profit earned from out of books investments; (iii) Unexplained gifts of shares. The impugned order has been passed by Learned Commissioner of Income ... framed. The order of Ld. CIT(A) is based on assessee’s submissions as well as remand report of Ld. AO. 2. Disallowance u/s 14A The assessee earned exempt dividend of Rs.14.57 Lacs but made interest payment of Rs.135.69 Lacs. The Ld. AO disallowed the same u/s 14A. However

Dy CIT, Circle -2(1), Gwalior vs. Sh Saurabh Garg, Morena

The appeals stand dismissed

ITA 364/AGR/2017[2008-09]Status: DisposedITAT Agra22 Apr 2025AY 2008-09

Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं./ Ita No.364/Agr/2017 (िनधा"रणवष" / Assessment Year:2008-09) & 2. आयकरअपीलसं./ Ita No.365/Agr/2017 (िनधा"रणवष" / Assessment Year:2009-10) & 3. आयकरअपीलसं./ Ita No.366/Agr/2017 (िनधा"रणवष" / Assessment Year:2010-11) बनाम/ Dcit, Circle-2(1), Shri Saurabh Garg Gwalior. Tilak Road, Jiwaji Ganj, Morena. Vs. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acopg-5549-C (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. Arun Kumar Yadav – Ld. Cit-Dr " थ"कीओरसे/Respondent By : Sh. Sanjay Kumar, Ca – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 19-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 22.04.2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeals By Revenue For Assessment Years (Ay) 2008-09 To 2010-11 Having Common Issues Arises Out Of Separate Orders Of First Appellate Authority. First, We Take Up Appeal For Ay 2008-09 Wherein The Grievance Of The Revenue Is – (I) Disallowance U/S 14A; (Ii) Profit Earned From Out Of Books Investments; (Iii) Unexplained Gifts Of Shares. The Impugned Order Has Been Passed By Learned Commissioner Of Income Tax (Appeals), Gwalior [Cit(A)] On 05-06-2017 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S 143(3) R.W.S. 153A

For Appellant: Dr. Arun Kumar Yadav – Ld. CIT-DRFor Respondent: Sh. Sanjay Kumar, CA – Ld. AR
Section 132Section 143(3)Section 14ASection 56

separate orders of first appellate authority. First, we take up appeal for AY 2008-09 wherein the grievance of the revenue is – (i) disallowance u/s 14A; (ii) Profit earned from out of books investments; (iii) Unexplained gifts of shares. The impugned order has been passed by Learned Commissioner of Income ... framed. The order of Ld. CIT(A) is based on assessee’s submissions as well as remand report of Ld. AO. 2. Disallowance u/s 14A The assessee earned exempt dividend of Rs.14.57 Lacs but made interest payment of Rs.135.69 Lacs. The Ld. AO disallowed the same u/s 14A. However

Spectrum Johnson Tiles Private Limited, Rajkot vs. The DCIT/ACIT Cir 1(1), Rajkot.

The appeal of the revenue is dismissed assessee

ITA 900/RJT/2024[2014-15]Status: DisposedITAT Rajkot22 Apr 2025AY 2014-15

Bench: Dr. Arjun Lal Saini, Am. & Dinesh Mohan Sinha, Jm Aids Sittet S/Ita No. 900 /Rit/ 2024

For Appellant: Shri D.M. Rindani, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. Sr. DR
Section 143(3)Section 14A

disallowance of expenditure incurred to earn exempt income. Considering the above discussion, I am of the opinion that the AO has rightly made disallowance u/s 14A of Rs. 12,47,396/- 5. We have heard both the parties and perused the material available on record. (i) We note that ... case in ITA No. 373-374/RJT/2016 for A.Y. 2012-13 and A.Y. 2013-14 where the Ld. A.O. made the similar disallowance u/s 14A of the Act space upon appeal of the order before CIT(A), the Ld. CIT has deleted the addition. Revenue has challenged the Validity