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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

National Stock Exchange of India Ltd, Mumbai vs. DCIT, Cir-7(1)(1), Mumbai

In the result ground no.1 of the appeal of the assessee is allowed and grounds no

ITA 730/MUM/2023[2016-17]Status: DisposedITAT Mumbai26 Oct 2023AY 2016-17

Bench: Shri Aby T Varkey & Shri Amarjit Singhita Nos.730 & 731/Mum/2023 (A.Ys. 2016-17 & 2017-18) National Stock Exchange Vs. Dcit, Circle 7(1)(1) Of India Limited Room No. 126, 1 St Floor, Exchange Plaza, Bandra Aaykar Bhavan, Kurla Complex, Bandra M.K. Road, East, Mumbai – 400051 Churchgate -400 020 स्थायी लेखा सं./जीआइआर सं./ Pan/Gir No: Aaacn1797L Appellant .. Respondent

For Appellant: Jehangir Mistri Sr. AdvFor Respondent: Srinivasu

case. In response during the course of assessment vide letter dated 12.10.2019 the assessee submitted the breakup of suo motto estimation of expenses disallowed u/s 14A of the act as per page no.90 to 91of the paper book filed. The assessee explained vide letter dated 09/12/2019 that it had made ... expenses on estimation basis. We consider that basis for the correctness of self -devised method of the assessee for estimating the disallowance u/s 14A is required to be examined at the level of the assessing officer. Therefore in order to decide the issue on merit we restore this issue

Abu Dhabi Commerical Bank Ltd, Mumbai vs. ADIT (It) 1(1), Mumbai

In the result, all the appeals and cross objections are disposed

ITA 3463/MUM/2010[2004-05]Status: DisposedITAT Mumbai26 Oct 2023AY 2004-05

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

exempted income u/s 14A of the Act. The Ld. income u/s 14A of the Act. The Ld. Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A

M/S. Abu-Dhabi Commercial Bank Ltd, Mumbai vs. The DDIT (It)-1(1), Mumbai

In the result, all the appeals and cross objections are disposed

ITA 6530/MUM/2006[2003-2004]Status: DisposedITAT Mumbai26 Oct 2023AY 2003-2004

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

exempted income u/s 14A of the Act. The Ld. income u/s 14A of the Act. The Ld. Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A

The DDIT (I.T)1(1) vs. M/S. Abudabi Commercial Bank Ltd

In the result, all the appeals and cross objections are disposed

ITA 2205/MUM/2004[1998-1999]Status: DisposedITAT Mumbai26 Oct 2023AY 1998-1999

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

exempted income u/s 14A of the Act. The Ld. income u/s 14A of the Act. The Ld. Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A

JCIT, Special Range-27, Mumbai vs. Abu-Dhabi Commercial Bank Ltd, Mumbai

In the result, all the appeals and cross objections are disposed

ITA 1733/MUM/2001[1997-98]Status: DisposedITAT Mumbai26 Oct 2023AY 1997-98

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

exempted income u/s 14A of the Act. The Ld. income u/s 14A of the Act. The Ld. Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A of the Counsel further submitted that issue of disallowance u/s 14A

Shri Manjit Singh Bhatai, Indore vs. The JCIT Range-3, Indore

In the result, both the appeals of the assessee are allowed for

ITA 243/IND/2023[2012-13]Status: DisposedITAT Indore26 Oct 2023AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 14ASection 271(1)(c)Section 68

That on the facts and in the circumstances of the case, Ld. AO and Ld. CIT(A) has erred in making disallowance u/s 14A of the Income- tax Act, 1961, of Rs. 30,117/- without properly appreciating the facts of the case and submission made before Ld.ao ... aside the order of the CIT(A) and remanded the issue of addition made on account of interest payment as well as disallowance u/s 14A of the Act to the record of the CIT(A) for fresh adjudication vide order dt 7th August, 2019 in I.T.A.No. 281/Ind/2017. A copy

Shri Manjit Singh Bhatai, Indore vs. The JCIT Range-3, Indore

In the result, both the appeals of the assessee are allowed for

ITA 242/IND/2023[2010-2011]Status: DisposedITAT Indore26 Oct 2023AY 2010-2011

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(3)Section 14ASection 271(1)(c)Section 68

That on the facts and in the circumstances of the case, Ld. AO and Ld. CIT(A) has erred in making disallowance u/s 14A of the Income- tax Act, 1961, of Rs. 30,117/- without properly appreciating the facts of the case and submission made before Ld.ao ... aside the order of the CIT(A) and remanded the issue of addition made on account of interest payment as well as disallowance u/s 14A of the Act to the record of the CIT(A) for fresh adjudication vide order dt 7th August, 2019 in I.T.A.No. 281/Ind/2017. A copy

Hathway Cable and Datacom Limited, Mumbai vs. Deputy Commissioner of Income Tax, Central Circle-3(2), Mumbai

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

ITA 2322/MUM/2023[2020-21]Status: DisposedITAT Mumbai25 Oct 2023AY 2020-21

Bench: Shri B.R. Baskaran (Am) & Shri Rahul Chaudhary (Jm)

Section 14ASection 55(2)Section 55(2)(aa)

However, we notice that the AO has specifically stated that the assessee did not consider all the expenses for computing disallowance u/s 14A of the Act. Hence, in our view, the AO has recorded dissatisfaction over the methodology adopted by the assessee, even though he did not specifically examine ... working made by the assessee. 7. We noticed earlier that the AO did not examine the workings made by the assessee for computing disallowance u/s 14A of the Act. In the revised workings now furnished before us, the assessee has considered all relevant indirect expenses also. According to the assessee

Dy. Commissioner of Income Tax-15(3)(1), Mumbai vs. M/S Reliance Power Limited, Mumbai

In the result, the appeal of the revenue is dismissed and the cross objection filed by the assessee is allowed

ITA 1952/MUM/2023[2014-2015]Status: DisposedITAT Mumbai25 Oct 2023AY 2014-2015

Bench: Shri B.R. Baskaran (Am) & Shri Narender Kumar Choudhry (Jm) I.T.A. No. 1952/Mum/2023 (A.Y. 2014-15) Dy. Commissioner Of Income Vs. M/S. Reliance Power Limited Tax-15(3)(1), Mumbai. H-Block, 1St Floor, Dhirubhai Ambani Knowledge City, Koperkhairane, Navi Mumbai 400 710. Pan : Aaacr2365L (Appellant) (Respondent)

Section 115JSection 14ASection 154

During the year under consideration, the assessee received exempt income of Rs.4,87,59,468/- from units of mutual fund. The assessee computed disallowance u/s 14A at Rs.48,23,659/-. The AO took the view that the disallowance should be computed as per Rule 8D and accordingly computed the disallowance ... challenging the above said decision had been dismissed (112 taxmann.com 322)(SC). Accordingly, the Ld CIT(A) directed the AO to restrict the disallowance u/s 14A of the Act to the exempt income. 5. As noticed earlier, the AO had added the amount of disallowance so computed by him u/s

DCIT- 3(4), Mumbai vs. M/S Reliance Industries Limited, Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2588/MUM/2022[2018-19]Status: DisposedITAT Mumbai18 Oct 2023AY 2018-19

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

year 2003-04 and were used during the year under consideration and hence, depreciation u/s 32 of the Act, thereon, is allowable consequentially. Disallowance u/s 14A read with Rule 8D of the Income-tax Rules 1962 4. Erred in directing the learned AO to compute the disallowance under section 14A ... disallowance computed by the appellant under section 14A of the Act. 5. Erred in directing the learned AO to recompute the disallowance u/s 14A being higher of 1% of average value of investments which have yielded exempt income during the year or the expenses disallowed by the appellant. 6. Without

DCIT-3(4), Mumbai vs. M/S Reliance Industries Limited, Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2587/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Oct 2023AY 2017-18

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

year 2003-04 and were used during the year under consideration and hence, depreciation u/s 32 of the Act, thereon, is allowable consequentially. Disallowance u/s 14A read with Rule 8D of the Income-tax Rules 1962 4. Erred in directing the learned AO to compute the disallowance under section 14A ... disallowance computed by the appellant under section 14A of the Act. 5. Erred in directing the learned AO to recompute the disallowance u/s 14A being higher of 1% of average value of investments which have yielded exempt income during the year or the expenses disallowed by the appellant. 6. Without

Reliance Industries Limited, Mumbai vs. Dy Commissioner of Income Tax Circle-3(4), Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2318/MUM/2022[2017-18]Status: DisposedITAT Mumbai18 Oct 2023AY 2017-18

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

year 2003-04 and were used during the year under consideration and hence, depreciation u/s 32 of the Act, thereon, is allowable consequentially. Disallowance u/s 14A read with Rule 8D of the Income-tax Rules 1962 4. Erred in directing the learned AO to compute the disallowance under section 14A ... disallowance computed by the appellant under section 14A of the Act. 5. Erred in directing the learned AO to recompute the disallowance u/s 14A being higher of 1% of average value of investments which have yielded exempt income during the year or the expenses disallowed by the appellant. 6. Without

Reliance Industries Ltd., Mumbai vs. ACIT Circle 3(4), Mumbai

In the result, both the appeals of the assessee and both the appeals of the revenue are treated as partly allowed

ITA 2317/MUM/2022[2018-19]Status: DisposedITAT Mumbai18 Oct 2023AY 2018-19

Bench: Shri B.R. Baskaran (Am) & Shri Pavan Kumar Gadale (Jm)

Section 14ASection 250(6)Section 32Section 35

year 2003-04 and were used during the year under consideration and hence, depreciation u/s 32 of the Act, thereon, is allowable consequentially. Disallowance u/s 14A read with Rule 8D of the Income-tax Rules 1962 4. Erred in directing the learned AO to compute the disallowance under section 14A ... disallowance computed by the appellant under section 14A of the Act. 5. Erred in directing the learned AO to recompute the disallowance u/s 14A being higher of 1% of average value of investments which have yielded exempt income during the year or the expenses disallowed by the appellant. 6. Without

Groz Engineering Tools Pvt. Ltd., New Delhi vs. ACIT, Circle- 10(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 2354/DEL/2019[2015-16]Status: DisposedITAT Delhi18 Oct 2023AY 2015-16

Bench: Sh. C. M. Gargdr. B. R. R. Kumarita No. 2354/Del/2019 : Asstt. Year : 2015-16 M/S Groz Engineering Tools (P) Ltd., Vs Acit, Khasra No. 74/9/1/74/12/2, 74/8, Circle-10(2), Tehsil Vasant Vihar, Village Bijwasan, New Delhi Najafgarh Road, New Deli-110061 (Appellant) (Respondent) Pan No. Aabcg4017H Assessee By : Sh. Ved Jain, Adv. & Sh. Aman Garg, Ca Revenue By : Sh. Amitabh K. Sinha, Cit-Dr Date Of Hearing: 20.07.2023 Date Of Pronouncement: 18.10.2023 Order Per Dr. B. R. R. Kumar:

For Appellant: Sh. Ved Jain, Adv. &For Respondent: Sh. Amitabh K. Sinha, CIT-DR
Section 14A

facts and circumstances of the case learned CIT(A) has erred both on facts and in law in confirming the disallowance u/s 14A rejecting the contention of the assessee that in the absence of any exempt income having 2 Groz Engineering Tools Pvt. Ltd. been earned during the year ... disallowance u/s 14A is called for. 4. On the facts and circumstances of the case learned CIT(A) has erred both on facts and in law in confirming the disallowance rejecting the contention of the assessee that since no expenditure have been incurred by the assessee for earning any exempt

Abis Export India Pvt. Ltd., Rajnandgaon vs. Deputy Commissioner of Income Tax, Circle-1(1), Bhilai, Durg

In the result, appeal of the assessee is dismissed in terms of our aforesaid observations

ITA 194/RPR/2023[2018-19]Status: DisposedITAT Raipur17 Oct 2023AY 2018-19

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am आयकर अपील सं./Ita No. 194/Rpr/2023 िनधा"रण वष" /Assessment Year: 2018-19 Abis Export India Pvt. Ltd. Vs The Deputy Commissioner Of Income Ib, Corporate House, Indamara, Tax, Circle-1(1), Bhilai Rajnandgaon (C.G.)-491 441 Pan: Aacca2881J (अपीलाथ" /Appellant) (""यथ" / Respondent) .. िनधा"रती क" ओर से /Assessee By : Shri Bikram Jain, Ca राज"व क" ओर से /Revenue By : Smt. Ila M. Parmar, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 22/08/2023 घोषणा क" तार"ख/Date Of Pronouncement : 17/10/2023 आदेश / O R D E R Per Arun Khodpia, Am: The Captioned Appeal Is Filed By The Assessee Against The Order Passed By The Ld. Pr. Commissioner Of Income Tax (Appeals), Nfac, Delhi U/S. 263 Of The Income Tax Act, 1961 (For Short ‘The Act’) Dated 28.03.2023 For A.Y.2018-19. The Grounds Of The Appeal Raised By The Assessee Are As Under: “1. On The Fact & In The Circumstances Of The Case, The Ld. Principal Commissioner Of Income Tax—Raipur-1 Has Erred In Holding The Assessment Order Passed By The National E-Assessment Centre (Neac) On 01.03.2021 As Erroneous & Prejudicial To The Interest Of Revenue As The Order Was Passed Without Making Any Enquiry On The Issues Of Applicability Of Section 14A Of The I. T. Act, 1961. The Assessment Order Passed By The Neac Is Neither Erroneous Nor Prejudicial To The Interest Of Revenue & Therefore The Order U/S 263 Passed By The Ld. Cit Is Unjustified, Unwarranted & Uncalled. 2. The Assessee Reserves The Right To Add, Amend Or Alter Any Grounds Of Appeal At Any Time Of Hearing.”

For Appellant: Shri Bikram Jain, CAFor Respondent: Smt. Ila M. Parmar, CIT-DR
Section 143(1)Section 143(2)Section 143(3)Section 14ASection 263Section 801ASection 80I

disallowed any expenditure incurred u/s.14A r.w.r. 8D in this respect, as 3 per CBDT Circular No.5/2014 dated 11.02.2014 wherein it was clarified that disallowance u/s. 14A r.w.r. 8D can be made irrespective of the fact whether any such income had been earned during the financial year or not. The total ... Investment shown in balance sheet in shares and securities) , income from which does not for part of total income . However no expenditure was disallowed u/s 14A r.w.r 8D of the I.T.Rules in this respect. The RAP has referred CBDT circular No 5/2014 dated 11.02.2014, it was clarified that disallowances u/s

M/S Cape Trading LLP, Mumbai vs. Additional/Joint/Deputy/Assistant Commissioner of Income Tax/Income Tax Officer National Faceless Assessment Centre, New Delhi

In the result, appeal of the assessee is allowed

ITA 799/MUM/2023[2018-2019]Status: DisposedITAT Mumbai16 Oct 2023AY 2018-2019

Bench: Shri Kuldip Singh & Shri Gagan Goyalm/S Cape Trading Llp Plot No. C-30, Block –G, Raheja Towers, Opp. Sidbi, Bandra Kurla Complex, Bandra (East), Mumbai-400 018 Pan: Aalfc1496M ..... Appellant Vs. Nfac, Delhi Pin- 110001 ..... Respondent

For Respondent: Shri Madhur Agarwal
Section 143(3)Section 14ASection 250Section 68

against the correct amount of Rs. 29,495/-. The appellant therefore prays before your Honour to restrict the disallowance u/s. 14A to Rs. 29,495/- as against the disallowance of Rs. 8, 68,644/- made by Ld. CIT (A) Ground No.2: On the facts and circumstances of the case ... fees cannot be said to have any direct or proximate nexus with the activity of investment or earning the exempt income. Thus the disallowance u/s 14A can be made only to the extent of allocation of these expenses which has direct or proximate nexus with earning of exempt income. From

Assistant Commissioner of Income Tax, Circle-(1), Raipur vs. Shri Bajrang Power and Ispat Ltd., Raipur

The appeal of the revenue is dismissed in terms of our aforesaid observations

ITA 201/RPR/2022[2012-13]Status: PendingITAT Raipur16 Oct 2023AY 2012-13

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 201/Rpr/2022 "नधा"रण वष" / Assessment Years : 2012-13 The Assistant Commissioner Of Income Tax, Circle-1(1), Raipur. .......अपीलाथ" / Appellant बनाम / V/S. Shri Bajrang Power & Ispat Limited, 00, Vill. Borjhara, Urla Guma Road, Raipur-493221. Pan : Aaccb2944D ……""यथ" / Respondent

For Appellant: Shri Amit M. Jain, AdvFor Respondent: Dr. Simran Bhullar, CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14ASection 80I

subsidy that was claimed by the assessee as a capital subsidy and treated by the A.O as a revenue subsidy 2. Disallowance u/s. 14A r.w.r.8D Rs.35,18,577/- 3. Disallowance of the assessee’s claim Rs.2,65,16,038/- for deduction in respect of income from generation of power u/s.80IA ... expenditure in relation to exempt income as required by the provision of section 14A(2) of the Act and mechanically proceeded to compute disallowance u/s 14A r.w.r. 8D(2)(iii) of the Rules. On this ground itself, the disallowance of Rs.35,18,577/- is not sustainable. Even though

Sara International Pvt.Ltd, New Delhi vs. Add. CIT, Range-22, New Delhi

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

ITA 3307/DEL/2019[2014-15]Status: DisposedITAT Delhi13 Oct 2023AY 2014-15

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

assessee in the computation of income for the year. 2. That the Learned Commissioner of Income Tax (Appeals) failed to restrict the disallowance u/s 14A to the extent of dividend income of Rs. 556500/- and did not appreciate that the department cannot take the benefit of a mistake committed ... sake of convenience. Page 3 of 16 ITA Nos.3307 & 1974/Del/2019 Sara International Pvt. Ltd. vs. Addl. CIT / JCIT 5. Issue No.1- Disallowance u/s 14A of the Act. Ground No.1 & 2 of assessee’s appeal and Ground Nos.1 & 2 of Revenue appeal. We have heard the rival submissions and perused

JCIT, Circle-22(1), New Delhi vs. Sara International Pvt.Ltd, New Delhi

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

ITA 1974/DEL/2019[2014-15]Status: DisposedITAT Delhi13 Oct 2023AY 2014-15

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

Section 143(3)Section 14A

assessee in the computation of income for the year. 2. That the Learned Commissioner of Income Tax (Appeals) failed to restrict the disallowance u/s 14A to the extent of dividend income of Rs. 556500/- and did not appreciate that the department cannot take the benefit of a mistake committed ... sake of convenience. Page 3 of 16 ITA Nos.3307 & 1974/Del/2019 Sara International Pvt. Ltd. vs. Addl. CIT / JCIT 5. Issue No.1- Disallowance u/s 14A of the Act. Ground No.1 & 2 of assessee’s appeal and Ground Nos.1 & 2 of Revenue appeal. We have heard the rival submissions and perused

Innovative B2B Logistics Solutions P.Ltd, New Delhi vs. Addl.CIT, Special Range-4, New Delhi

In the result, the appeals filed by the Revenue and assessee are partly allowed for statistical purposes

ITA 4997/DEL/2018[2015-16]Status: DisposedITAT Delhi12 Oct 2023AY 2015-16

Bench: the ld. CIT (A). Ld. CIT (A) granted relief by placing reliance on the decisions of Hon’ble

For Appellant: Shri Nageshwar Rao, AdvocateFor Respondent: Shri Sandip Kumar Mishra, Sr. DR
Section 14A

shares of M/s. Noble Tradecon Private Limited and M/s. B2B Forwarding Agent Ltd. AO noted that assessee has not made any disallowance u/s 14A of the Act. The assessee was asked to explain and the assessee stated that it has not received any exempt income during the year