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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

Income Tax Officer-12(2)(1), Mumbai vs. Elder Prroject Limited, Mumbai

In the result, the appeal filed by the revenue is dismissed

ITA 677/MUM/2024[2013-14]Status: DisposedITAT Mumbai29 Jul 2024AY 2013-14

Bench: Shri Pavan Kumar Gadale & Smt Renu Jauhriito(It)-12(2)(1), Vs. Elder Project Ltd 301-302, Kunthu Room No. 145, 1St Floor, Commercial Centre, Aayakar Bhawan, 3Rd Floor, Plot No. 174, Churchgate, Near Ayyappa Temple, Mumbai – 400020. Bangur N, Goregaon (W), Mumbai-400090. Pan/Gir No. Aaace7387B (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 43B

assessee disallowed entire exempt income therefore, no further disallowance is required to be made. It has been held in various cases that the disallowance u/s. 14A r.w. Rule 8D cannot exceed the exempt income. The Hon'ble Punjab and Haryana High Court in the case of Principal Commissioner of Income ... being there in the relevant section or rule?" The Hon'ble High Court affirmed the order of the ITAT in holding that the disallowance u/s. 14A r.w.r 8D as worked out by the Assessing Officer is not in accordance with law for the reason that Assessing Officer has disallowed entire

M/S Ronit Mercantile Private Limited, Mumbai vs. ITO, Ward 13(3)(2), Mumbai

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

ITA 385/MUM/2024[2017-18]Status: DisposedITAT Mumbai29 Jul 2024AY 2017-18

Bench: Shri Prashant Maharishi, Am M/S Ronit Mercantile Private Ito, Ward 13(3)(2), Limited Aaykar Bhavan A-101, Humgra Park Pathanwadi Vs. Road, Malad (East), Opp Masid Churchgate, Mumbai-400020 Mumbai-400 097 (Appellant) (Respondent) Pan No. Aadcr9382C Assessee By : None Revenue By : Shri R.R. Makwana, Dr Date Of Hearing: 06.06.2024 Date Of Pronouncement : 29.07.2024

For Appellant: NoneFor Respondent: Shri R.R. Makwana, DR
Section 115BSection 143(2)Section 143(3)Section 14ASection 68

circumstances of the case and in law, learned C.I.T.(A) erred in confirming the action of the AO. in determining disallowance u/s 14A of Act of Rs.3,02,671/- 3. On the facts and in the circumstances of the case and law, learned C.I.T.(A) erred in confirming the action

JCIT (OSD) Circle- 16(2), New Delhi vs. Mayar Health Resorts Pvt. Ltd., New Delhi

In the result, the appeals of the assessee are partly allowed and the appeal of the Revenue is partly allowed

ITA 3548/DEL/2018[2011-12]Status: DisposedITAT Delhi29 Jul 2024AY 2011-12

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

For Appellant: Sh. Raghav Sharma, CA &For Respondent: Sh. Anshul, Sr. DR
Section 143(3)Section 145(2)Section 145(3)Section 209Section 35D(2)(c)

hereinafter referred as "the Act") by not considering the provisions of Section 14A of the Act which stipulate computation of disallowance u/s 14A of the Act mandatorily under Rule 8D(2) of the Income Tax Rules, 1962 (hereinafter referred as "the Rules")? 2. Whether on the facts and circumstances ... assessee is hereby allowed. ITA No. 3548/Del/2018 Mayar Health Resorts Pvt. Ltd. ITA No. 6228/Del/2013 : A.Y. 2010-2011 Ground No. 9 : Disallowance u/s 14A: 18. Both the parties fairly submitted that the assessee has not earned any exempt income. Now, it is a settled matter that no disallowance is called

Mayar Health Resorts Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed and the appeal of the Revenue is partly allowed

ITA 326/DEL/2015[2010-11]Status: DisposedITAT Delhi29 Jul 2024AY 2010-11

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

For Appellant: Sh. Raghav Sharma, CA &For Respondent: Sh. Anshul, Sr. DR
Section 143(3)Section 145(2)Section 145(3)Section 209Section 35D(2)(c)

hereinafter referred as "the Act") by not considering the provisions of Section 14A of the Act which stipulate computation of disallowance u/s 14A of the Act mandatorily under Rule 8D(2) of the Income Tax Rules, 1962 (hereinafter referred as "the Rules")? 2. Whether on the facts and circumstances ... assessee is hereby allowed. ITA No. 3548/Del/2018 Mayar Health Resorts Pvt. Ltd. ITA No. 6228/Del/2013 : A.Y. 2010-2011 Ground No. 9 : Disallowance u/s 14A: 18. Both the parties fairly submitted that the assessee has not earned any exempt income. Now, it is a settled matter that no disallowance is called

Mayar Health Resorts Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed and the appeal of the Revenue is partly allowed

ITA 6228/DEL/2013[2009-10]Status: DisposedITAT Delhi29 Jul 2024AY 2009-10

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

For Appellant: Sh. Raghav Sharma, CA &For Respondent: Sh. Anshul, Sr. DR
Section 143(3)Section 145(2)Section 145(3)Section 209Section 35D(2)(c)

hereinafter referred as "the Act") by not considering the provisions of Section 14A of the Act which stipulate computation of disallowance u/s 14A of the Act mandatorily under Rule 8D(2) of the Income Tax Rules, 1962 (hereinafter referred as "the Rules")? 2. Whether on the facts and circumstances ... assessee is hereby allowed. ITA No. 3548/Del/2018 Mayar Health Resorts Pvt. Ltd. ITA No. 6228/Del/2013 : A.Y. 2010-2011 Ground No. 9 : Disallowance u/s 14A: 18. Both the parties fairly submitted that the assessee has not earned any exempt income. Now, it is a settled matter that no disallowance is called

Mayar Health Resorts Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeals of the assessee are partly allowed and the appeal of the Revenue is partly allowed

ITA 5109/DEL/2012[2008-09]Status: DisposedITAT Delhi29 Jul 2024AY 2008-09

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

For Appellant: Sh. Raghav Sharma, CA &For Respondent: Sh. Anshul, Sr. DR
Section 143(3)Section 145(2)Section 145(3)Section 209Section 35D(2)(c)

hereinafter referred as "the Act") by not considering the provisions of Section 14A of the Act which stipulate computation of disallowance u/s 14A of the Act mandatorily under Rule 8D(2) of the Income Tax Rules, 1962 (hereinafter referred as "the Rules")? 2. Whether on the facts and circumstances ... assessee is hereby allowed. ITA No. 3548/Del/2018 Mayar Health Resorts Pvt. Ltd. ITA No. 6228/Del/2013 : A.Y. 2010-2011 Ground No. 9 : Disallowance u/s 14A: 18. Both the parties fairly submitted that the assessee has not earned any exempt income. Now, it is a settled matter that no disallowance is called

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Kilpauk

The appeals of the Revenue stand dismissed

ITA 9/CHNY/2022[2012-13]Status: DisposedITAT Chennai26 Jul 2024AY 2012-13

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

excess consideration paid directly to goodwill. 4. The Ld. CIT(A) erred in providing relief to the assessee on the issue of Disallowance u/s. 14A by relying on the decision of Hon'ble High Court of madras in the case of Redington (India) Ltd vs Additional Commissioner of Income ... officer (‘AO’ in short) added following additions: 10 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 i) Disallowance u/s 10AA : Rs.29,84,746/- ii) Disallowance u/s 14A r.w. Rule 8D : Rs.29,84,746/- iii) Disallowance of excess depreciation on : Rs.40,557/- Software application iv) Disallowance of excess depreciation : Rs.1

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Ltd, Chennai

The appeals of the Revenue stand dismissed

ITA 11/CHNY/2022[2015-16]Status: DisposedITAT Chennai26 Jul 2024AY 2015-16

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

excess consideration paid directly to goodwill. 4. The Ld. CIT(A) erred in providing relief to the assessee on the issue of Disallowance u/s. 14A by relying on the decision of Hon'ble High Court of madras in the case of Redington (India) Ltd vs Additional Commissioner of Income ... officer (‘AO’ in short) added following additions: 10 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 i) Disallowance u/s 10AA : Rs.29,84,746/- ii) Disallowance u/s 14A r.w. Rule 8D : Rs.29,84,746/- iii) Disallowance of excess depreciation on : Rs.40,557/- Software application iv) Disallowance of excess depreciation : Rs.1

ITO, Cw-1(1), Chennai vs. Inspirisys Solutions Limited, Chennai

The appeals of the Revenue stand dismissed

ITA 10/CHNY/2022[2014-15]Status: DisposedITAT Chennai26 Jul 2024AY 2014-15

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos.9,10 & 11/Chny/2022 (िनधा"रणवष" / Assessment Years: 2012-13, 2014-15 & 2015-2016) & C.O.Nos.5, 6 &7/Chny/2023 (In Ita Nos.9,10 & 11/Chny/2022) The Income Tax Officer, Vs. M/S. Inspirisys Solutions Limited, Corporate Ward 1(1) First Floor, New Door Nos. 57,59,63 & 64, Chennai 600 034. Dowlath Towers, Taylors Road, Kilpauk, Chennai 600 010. [Pan: Aaaca 5622M] (अपीलाथ"/Appellant) (Respondent/ Cross Objector) Department By : Shri. Nilay Baran Som, Irs, Cit. Shri. Arv Srinivasan, Irs, Addl. Cit Assessee By : Shri. N.V. Balaji, Advocate सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 26.07.2024

For Appellant: Shri. N.V. Balaji, AdvocateFor Respondent: Shri. Nilay Baran Som, IRS, CIT
Section 14ASection 253

excess consideration paid directly to goodwill. 4. The Ld. CIT(A) erred in providing relief to the assessee on the issue of Disallowance u/s. 14A by relying on the decision of Hon'ble High Court of madras in the case of Redington (India) Ltd vs Additional Commissioner of Income ... officer (‘AO’ in short) added following additions: 10 ITA Nos.9-11/Chny/2022 & CO Nos. 5-7/Chny/2023 i) Disallowance u/s 10AA : Rs.29,84,746/- ii) Disallowance u/s 14A r.w. Rule 8D : Rs.29,84,746/- iii) Disallowance of excess depreciation on : Rs.40,557/- Software application iv) Disallowance of excess depreciation : Rs.1

Dy. CIT Circle 3(4), Mumbai vs. Asian Paints Ltd, Mumbai

In the result, appeals filed by assessee and Revenue for A

ITA 3083/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jul 2024AY 2018-19

Bench: IN THE INCOME TAX APPELLATE TRIBUNAL, ‘A‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA (Judicial Member), SMT RENU JAUHRI (Accountant Member)

Section 115JSection 143(3)Section 14ASection 2(43)Section 35Section 40Section 80GSection 90

Disallowance being 25% Ground No. IV Ground No. V Ground No. V of exp on distribution of gift articles 7 Disallowance u/s 14A Ground No. V Ground No. VI Ground No. VI r.w.r 8D of the Act & & VI & VII & VII also under book profits 8 Disallowance of exp Ground

Dy CIT Circle -3(4), Mumbai vs. Asian Paints Limited, Mumbai

In the result, appeals filed by assessee and Revenue for

ITA 3063/MUM/2023[2017-18]Status: DisposedITAT Mumbai26 Jul 2024AY 2017-18
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 80GSection 90

Disallowance being 25% |Ground No. IV |Ground No. V |Ground No. V of exp on distribution of gift articles 7 Disallowance u/s 14A_ |Ground No. V |Ground No. VI |Ground No. VI r.w.r 8D of the Act & & VI & VIL & VIL also under book profits 8 Disallowance of exp Ground

Dy CIT Circle 3(4), Mumbai vs. Asian Paints, Mumbai

ITA 2936/MUM/2023[2016-17]Status: DisposedITAT Mumbai26 Jul 2024AY 2016-17
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 80GSection 90

Disallowance being 25% Ground No. IV Ground No. V Ground No. V of exp on distribution of gift articles 7 Disallowance u/s 14A Ground No. V Ground No. VI Ground No. VI r.w.r 8D of the Act & & VI & VII & VII also under book profits 8 Disallowance of exp Ground

Asian Paints Limited, Santacruz vs. Deputy Commissioner of Income Tax, Ltu Circle 2, Cuffe Parade

ITA 2700/MUM/2023[2016-17]Status: DisposedITAT Mumbai26 Jul 2024AY 2016-17
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 50Section 80GSection 90

Disallowance being 25% of exp on distribution of gift articles Ground No. IV Ground No. V Ground No. V 7 Disallowance u/s 14A r.w.r 8D of the Act & also under book profits Ground No. V & VI Ground No. VI & VII Ground No. VI & VII 8 Disallowance of exp related

Asian Paints Limited, Santacruz vs. Assistant Commissioner of Income Tax, Ltu Circle 1, Cuffe Parade

ITA 2697/MUM/2023[2017-18]Status: DisposedITAT Mumbai26 Jul 2024AY 2017-18
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 50Section 80GSection 90

Disallowance being 25% of exp on distribution of gift articles Ground No. IV Ground No. V Ground No. V 7 Disallowance u/s 14A r.w.r 8D of the Act & also under book profits Ground No. V & VI Ground No. VI & VII Ground No. VI & VII 8 Disallowance of exp related

Asian Paints Limited, Santacruz vs. National Faceless Assessment Centre, Delhi

ITA 2696/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Jul 2024AY 2018-19
Section 143(3)Section 14ASection 2(43)Section 35Section 40Section 50Section 80GSection 90

Disallowance being 25% Ground No. IV Ground No. V Ground No. V of exp on distribution of gift articles 7 Disallowance u/s 14A Ground No. V Ground No. VI Ground No. VI r.w.r 8D of the Act & & VI & VII & VII also under book profits 8 Disallowance of exp Ground

Advance Valves P.Ltd, New Delhi vs. ACIT, Range-1, New Delhi

In the result, the appeal of the assessee is allowed

ITA 5555/DEL/2017[2013-14]Status: DisposedITAT Delhi26 Jul 2024AY 2013-14

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2013-14] Advance Valves Pvt.Ltd., Vs Acit, 11-G, Ashok Palace, Range-1, 877-East Park Road, New Delhi. Karol Bagh, New Delhi-110005. Pan-Aaacs0305B Appellant Respondent Appellant By Shri Baldev Raj, Ca Respondent By Ms. Alka Gautam, Sr.Dr & Shri Kanv Bali, Sr. Dr Date Of Hearing 24.07.2024 Date Of Pronouncement 26.07.2024

Section 10Section 143(3)Section 14A

Bank Charges and Bank guarantee charges of Rs.21,85,514/-, as interest [Assessment Year : 2013-14] on borrowings for the purposes of calculating disallowance u/s 14A of the Act read with Rule 8D(2)((ii). 4. Whether on the facts and circumstances of the case, the learned ... status of the non-interest bearing funds. However, the Assessing Officer did not accept the contentions of the assessee and proceeded to make disallowance u/s 14A of the Act. Thereby, he made addition of Rs.9,06,947/-. 5. Aggrieved against this, the assessee preferred appeal before Ld.CIT(A) who sustained

ITO, New Delhi vs. M/S Ansal Housing & Construction Ltd., New Delhi

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

three major issues i.e. INR 58,09,780/- on account of notional Annual Letting Value (“ALV”), in respect of vacant commercial/self-occupied capital assets, disallowance u/s 14A of the Act of INR 10,80,927/-, and disallowance of deduction u/s 80IB(10) of the Act to the extent ... finding in respect of allocation of various expenses on eligible projects. The Ld.CIT(A) deleted addition(s) related to ALV of vacant properties, disallowance u/s 14A of the Act and he substantially reduced disallowance of deduction u/s 80IB(10) of the Act, from INR 4,69,59,072/-. 5. Aggrieved

M/S Pleasant Vinimay Pvt. Ltd., Kolkata vs. ITO, Ward-6(3), Kolkata

In the result, the appeal of the assessee is allowed

ITA 304/KOL/2024[2017-18]Status: DisposedITAT Kolkata25 Jul 2024AY 2017-18

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey]

Section 142(1)Section 14A

applicable where the assessee has not earned any exempt income during the year. In our opinion the settled legal position is that no disallowance u/s 14A is called for where there is no exempt income earned during the year. We note that the Ld. CIT(A) has failed to consider ... case of PCIT vs. R. M Commercial Pvt .Ltd. [2022] 138 taxmann.com 21 (Calcutta) wherein it has been held that no disallowance u/s 14A is called for as the assessee has not received any exempt income during the year. Accordingly we set aside the order

DCIT-CC-7(3), Aaykar Bhavan, Maharishi Karve Road, Mumbai, Maharashtra vs. Arihant Premises Private Limited, Mumbai

In the result, ground Nos

ITA 1602/MUM/2024[2013-14]Status: DisposedITAT Mumbai24 Jul 2024AY 2013-14

Bench: Shri Prashant Maharshi & Shri Anikesh Banerjeedcit-Cc-7(3), Vs Arihant Premises Private Limited Room No-655, Aayakar Bhavan, 412, Floor-4, Vardhaman Chamber Maharishi Karve Road, Cawasji Patel Road, Horniman Mumbai-400 020 Circle, Fort, Mumbai-400 001 Pan : Aaaca7260K Appellant Respondent

For Appellant: Shri Neeraj ShethFor Respondent: Shri Manoj Kumar Sinha (SRDR)
Section 139(1)Section 143(3)Section 14ASection 250Section 36Section 36(1)(iii)

Interest claimed as revenue expenses Rs.7,40,84,000/- 2) Interest expenses disallowed u/s 36(1)(iii) Rs. 8,14,064/- 3) Disallowance u/s 14A r.w.r.8D Rs. 77,621/- 4. The ld.DR vehemently argued and fully relied on the assessment order. 5. The ld.AR argued and filed a written submission ... HDFC Bank Ltd. v. CIT (366 ITR 505), the appellant contended before the AO that no disallowance u/s. 14A read with Rule 8D was called for in its case. However, the AO held that the contention of the appellant that the investments had been made out of own funds

Metro Tyres Limited, New Delhi vs. ACIT Central Circle-05, New Delhi

In the result, Appeal filed by the assessee is allowed

ITA 1873/DEL/2020[2014-15]Status: DisposedITAT Delhi24 Jul 2024AY 2014-15

Bench: Sh. Pradip Kumar Kedia & Shri Yogesh Kumar U.S.

For Appellant: Sh. Salil Kapoor, Adv & ShFor Respondent: Sh. Anshul, Sr. DR
Section 14ASection 271(1)(c)Section 274

17/05/2016 against the assessee by making disallowance on account of depreciation claimed on non compete fee of Rs. 21,89,970/- and disallowance u/s 14A of the Act of Rs. 7,37,674/-. In the quantum Appeal, the Ld. CIT(A) deleted the disallowance made u/s 14A