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“exempt income disallowance”

DisallowancesSection 14ASection 14A22 judgments

JOINT COMMISSIONER OF INCOME TAX (OSD), CENTRAL CIRCLE 2(1), MUMBAI, MUMBAI vs. GATEWAY DISTRIPARKS LTD, RAIGAD

In the result, the appeal filed by the revenue bearing ITA

ITA 2432/MUM/2025[2016-17]Status: DisposedITAT Mumbai21 Jul 2025AY 2016-17

Bench: Shri Narendra Kumar Billaiya, Account Member & Shri Anikesh Banerjeejoint Commissioner Of Vs Gateway Distriparks Ltd Income-Tax (Osd), Central Sector 6, Dronagiri, Taluka Uran, Circle 2(1), Mumbai, Raigad. 8Th 804, Floor, Pratishtha Bhavan, M.K. Road, Mumbai- Pan: Aaacg3425C 400 020 Applicant Respondent

For Appellant: Shri Ashok Kumar JainFor Respondent: Shri Arun Kanti Datta – CIT DR
Section 115JSection 139(1)Section 143(3)Section 144Section 14ASection 250

with the disallowance made by the learned AO, approaching the CIT - A who held deleted the disallowance holding that in absence of any exempt income disallowance was impermissible. Accordingly, he deleted the disallowance under section 14 A read with rule 8D in the normal computation of total income as well

MARVELOUS CEMENT PRIVATE LIMITED ,NEW DELHI vs. NATIONAL E-ASSESSMENT CENTRE, NEW DELHI

In the result, appeal filed by the assessee is allowed

ITA 4100/DEL/2024[2018-19]Status: DisposedITAT Delhi30 Jun 2025AY 2018-19
Section 139(1)Section 143(3)Section 147Section 148Section 250

company. Further AO has not doubted the\ngenuineness of the same and merely by observing that they were\nincurred for erring exempt income disallowance was made, though\nas observed above, there was no exempt income received by the\nassessee in the year before us. In view of these facts

MARVELOUS CEMENT PRIVATE LIMITED ,NEW DELHI vs. INCOME TAX OFFICER WARD 16(4), NEW DELHI

In the result, appeal filed by the assessee is allowed

ITA 4099/DEL/2024[2012-13]Status: DisposedITAT Delhi30 Jun 2025AY 2012-13

Bench: Ms.Madhumita Roy & Shri Manish Agarwal[Assessment Year : 2012-13] Marvellous Cement Pvt.Ltd., Vs Income Tax Officer, Flat No.305, 3Rd Floor, Ward-16(4), Bakshi House, 40-41 Nehru New Delhi Place, New Delhi-110019. Pan-Aaecm9931F Appellant Respondent [Assessment Year : 2018-19] Marvellous Cement Pvt.Ltd., Vs National E-Assessment Flat No.305, 3Rd Floor, Centre, New Delhi Bakshi House, 40-41 Nehru Place, New Delhi-110019. Pan-Aaecm9931F Appellant Respondent Appellant By Shri Ashwani Kumar, Ca & Shri Ankur Agarwal, Ca Respondent By Shri Virender Kumar Singh, Sr.Dr Date Of Hearing 05.05.2025 Date Of Pronouncement 30.06.2025 Order Per Manish Agarwal, Am : Both The Captioned Appeals Are Filed By The Assessee Against Two Separate Orders, Both Dated 22.07.2024 Passed By Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (“Nfac”), Delhi [“Ld.Cit(A)”] In Appeal No. Cit(A), Delhi- 6/10624/2019-20 & Appeal No. Nfac/2017-18/10022053 Respectively, Passed U/S 250 Of The Income Tax Act, 1961 [“The Act”]. Both The Appeals Are Arising From The Assessment Orders, Dated 24.12.2019 U/S 143(3)/147 Of The Act & Dt. 15.09.2020

Section 139(1)Section 143(3)Section 147Section 148Section 250

company. Further AO has not doubted the genuineness of the same and merely by observing that they were incurred for erring exempt income disallowance was made, though as observed above, there was no exempt income received by the assessee in the year before us. In view of these facts

M/S. BHUMI NIRMAN PVT. LTD.,KOLKATA vs. I.T.O., WARD - 10(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1166/KOL/2024[2015-2016]Status: DisposedITAT Kolkata16 Oct 2024AY 2015-2016

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Section 14ASection 271(1)(c)

argument of the revenue that the CBDT Circular No. 5/2014, dated 11-2-2014 stating that even in the absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could be demonstrated

SILVERLAKE TRADERS PVT. LTD.,KOLKATA vs. ITO, WARD-5(1), KOLKATA

In the result, the appeal filed by the assessee is partly allowed

ITA 379/KOL/2024[2009-10]Status: DisposedITAT Kolkata23 Sept 2024AY 2009-10

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 14ASection 263Section 68

argument of the revenue that the CBDT Circular No. 5/2014, dated 11-2-2014 stating that even in the absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could be demonstrated

M/S. SALARPURIA HOMES PVT. LTD.,KOLKATA vs. A.C.I.T., CIRCLE - 1(2), KOLKATA, KOLKATA

In the result, appeal filed by the assessee is allowed

ITA 1360/KOL/2024[2014-2015]Status: DisposedITAT Kolkata13 Sept 2024AY 2014-2015

Bench: Shri Sonjoy Sarma, Judicial Member Shri Rakesh Mishra (Accountant Member)

Section 143(3)Section 14ASection 250

argument of the revenue that the CBDT Circular No. 5/2014, dated 11-2-2014 stating that even in the absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could be demonstrated

NEW INDIA RETAILING & INVESTMENT LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 5(1), KOLKATA, KOLKATA

In the result, the appeal filed by the assessee is allowed

ITA 1285/KOL/2024[2018-2019]Status: DisposedITAT Kolkata11 Sept 2024AY 2018-2019

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

Section 14A

taking into consideration various judicial precedents relied upon by the appellant wherein it has been held that in absence of any exempt income, disallowance could not be made under section 14A of the Act read with Rule 8D of the Rules. (10) For that the appellant craves leave to amend ... argument of the revenue that the CBDT Circular No. 5/2014, dated 11-2-2014 stating that even in the absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could be demonstrated

ARTLINE FINANCIAL MANAGEMENT PVT. LTD.,KOLKATA vs. I.T.O., WARD - 14(3), KOLKATA, KOLKATA

In the result, appeal filed by the assessee is allowed

ITA 1297/KOL/2024[2013-2014]Status: DisposedITAT Kolkata10 Sept 2024AY 2013-2014

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

Section 14Section 14ASection 37

argument of the revenue that the CBDT Circular No. 5/2014, dated 11-2-2014 stating that even in the absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could be demonstrated

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7.1.1, BANGALORE vs. TALLY SOLUTIONS PRIVATE LIMITED, BANGALORE

In the result, the appeal filed by the revenue is partly allowed for statistical purposes

ITA 177/BANG/2024[2017]Status: DisposedITAT Bangalore30 Aug 2024

Bench: Shri Waseem Ahmed & Shri Prakash Chand Yadavassessment Years: 2017-18

For Appellant: Ms. Tanmayee Rajkumar, AdvocateFor Respondent: Shri Subramanian S, JCIT
Section 14ASection 35

taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi); the Court had then held that in the absence of any exempt income disallowance was impermissible. For the relevant Assessment Year (2013-14), concededly, the assessee did not report any exempt income. Consequently, no substantial question of law arises; the appeal is therefore

ELEGANT DEALMARK PVT. LTD.,KOLKATA vs. ITO, WARD-5(3), KOLKATA

In the result, the appeal filed by the assessee is partly allowed, with Ground No

ITA 51/KOL/2024[2012-13]Status: DisposedITAT Kolkata21 Aug 2024AY 2012-13

Bench: Sri Rajpal Yadav, Vice- & Sri Sanjay Awasthi

Section 131Section 14ASection 68

stating that even in the Page 13 of 15 I.T.A. No.: 51/KOL/2024 Assessment Year: 2012-13 Elegant Dealmark Pvt. Ltd. absence of any exempt income disallowance under section 14A had to be made, is binding on the revenue authority, had no merit. [Para 12] ■ No illegality or perversity could

ZODIAC VENTURES LTD ,MUMBAI vs. INCOME TAX OFFICER WARD 1(3)(4), MUMBAI

In the result, appeal filed by the assessee is allowed in the above terms

ITA 4754/MUM/2023[2016-17]Status: DisposedITAT Mumbai18 Jun 2024AY 2016-17

Bench: Ms. Padmavathy S & Shri. Raj Kumar Chauhanzodiac Ventures Ltd. Vs. Income Tax Officer Ward 404, Dev Plaza, 68, S.V. Road, 11(3)(4) Andheri West, Mumbai – Aayakar Bhawan, Maharshi 400058. Karve Road, Mumbai- Pan: Aafps7328J 400020. (Appellant) (Respondent)

Section 14ASection 250

taxmann.com 118/234 Taxman 761/378 ITR 33 (Delhi): the Court had then held that in the absence of any exempt income disallowance was impermissible. For the relevant Assessment Year (2013-14), concededly, the assessee did not report any exempt income. Consequently, no substantial question of law arises; the appeal is therefore ... Project and Technical Services Ltd., (case no. 3 referred “supra”) was pleased to hold that in the absence of any exempt income,disallowances were impermissible because for the relevant A.Y. 2013-14, concededly, the assessee did not report any exempt income. 16. Regarding the alleged retrospective effect given

URMIN PRODUCTS PVT. LTD.,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(3), AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA

ITA 1007/AHD/2023[2020-21]Status: DisposedITAT Ahmedabad14 Jun 2024AY 2020-21

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinha

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri V.K. Mangla, Sr. DR
Section 143(3)Section 14ASection 14A(2)

respectfully submitted that once the interest free funds available with the assessee company are far in excess of the investments capable of generating exempt income disallowance u/s 14A r.w.r. 8D of the I.T. Rules 1962 cannot be made. It is also further submitted that the perusal of the Profit & Loss

URMIN PRODUCTS PVT. LTD.,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-1(3), AHMEDABAD

In the result, the appeal filed by the assessee bearing ITA

ITA 1006/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad14 Jun 2024AY 2018-19

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinha

For Appellant: Shri Aseem L. Thakkar, ARFor Respondent: Shri V.K. Mangla, Sr. DR
Section 143(3)Section 14ASection 14A(2)

respectfully submitted that once the interest free funds available with the assessee company are far in excess of the investments capable of generating exempt income disallowance u/s 14A r.w.r. 8D of the I.T. Rules 1962 cannot be made. It is also further submitted that the perusal of the Profit & Loss

DCIT-15(3)(1), MUMBAI , MUMBAI vs. RELIANCE POWER LTD, MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3424/MUM/2023[2015-16]Status: DisposedITAT Mumbai22 Jan 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

with the disallowance made by the learned AO, approaching the CIT – A who held deleted the disallowance holding that in absence of any exempt income disallowance was impermissible. Accordingly, he deleted the disallowance under section 14 A read with rule 8D in the normal computation of total 5 income

DCIT-15(3)(1), MUMBAI, MUMBAI vs. RELIANCE POWER LTD, NAVI MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3423/MUM/2023[2018-19]Status: DisposedITAT Mumbai22 Jan 2024AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

with the disallowance made by the learned AO, approaching the CIT – A who held deleted the disallowance holding that in absence of any exempt income disallowance was impermissible. Accordingly, he deleted the disallowance under section 14 A read with rule 8D in the normal computation of total 5 income

RELIANCE POWER LIMITED,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 15(3)(1), MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3044/MUM/2023[2018-19]Status: DisposedITAT Mumbai22 Jan 2024AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

with the disallowance made by the learned AO, approaching the CIT – A who held deleted the disallowance holding that in absence of any exempt income disallowance was impermissible. Accordingly, he deleted the disallowance under section 14 A read with rule 8D in the normal computation of total 5 income

RELIANCE POWER LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, 15(3)(1), MUMBAI

In the result we do not find any merit in the appeal of the learned assessing officer

ITA 3043/MUM/2023[2015-16]Status: DisposedITAT Mumbai22 Jan 2024AY 2015-16

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

For Appellant: Mr. Jitendra Sanghavi C AFor Respondent: Ms Sanyogita Nagpal CIT DR
Section 115Section 115JSection 14Section 143Section 14A

with the disallowance made by the learned AO, approaching the CIT – A who held deleted the disallowance holding that in absence of any exempt income disallowance was impermissible. Accordingly, he deleted the disallowance under section 14 A read with rule 8D in the normal computation of total 5 income

INDIANOIL ADANI VENTURES LIMITED (FORMERLY KNOWN AS "INDIAN OILTANKING LIMITED"),MUMBAI vs. ITO - 10(3)(3), MUMBAI

In the result, the appeals of the assessee in I

ITA 2402/MUM/2006[2002-2003]Status: DisposedITAT Mumbai06 Nov 2023AY 2002-2003

Bench: Shri Amit Shukla, Jm & Ms Padmavathy S, Am

For Appellant: Ms. Vasanti Patel a/w DeepaFor Respondent: Shri K.C Selvamani, CIT-DR
Section 115JSection 143(3)Section 144C(13)Section 14ASection 234D

India Ltd. [2022] 141 taxmann.com 289 has held that the amendment to section 14A to the effect that even if there is no exempt income disallowance u/s.14A can be made, is prospective and is applicable only from 01.04.2022. Therefore we see merit in the contention of ld AR that

M/S. BHATIA GLOBAL TRADING LTD.,INDORE vs. THE DCIT 1(1), INDORE

In the result, appeal of assessee is partly allowed

ITA 247/IND/2017[2012-13]Status: DisposedITAT Indore26 Jul 2023AY 2012-13

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanibhatia Global Trading Ltd. Dcit 1(1) Through Official Liquidator Indore Old Cia Building, 1St Floor Vs. Opp. G.P.O. Residency Area, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaacb6751 C Assessee By None Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 10.05.2023 Date Of Pronouncement 26 .07.2023

Section 143(3)Section 144C(13)Section 144C(5)Section 14A

High Court of Delhi, Gujarat, Allahabad and jurisdictional High Court have consistently taken a view that where the assessee has not earned exempt income disallowance u/s 14A cannot be made. It is also held that if the assessee has earned exempt income, disallowance u/s 14A can be restricted to such

DCIT CC 7(3), MUMBAI vs. M/S PALAVA DWELLERS PVT. LTD., MUMBAI

In the result, appeal filed by the learned AO is dismissed and appeal of the assessee is allowed

ITA 1594/MUM/2019[2015-16]Status: DisposedITAT Mumbai31 Aug 2022AY 2015-16

Bench: Shri Amit Shukla, Jm & Shri Prashant Maharishi, Am

For Appellant: Mr. Niraj Seth, ARFor Respondent: Mr. Praveen Shekhar, DR
Section 14ASection 36Section 36(1)(iii)Section 80G

during the year. 014. The learned departmental representative supported the order of the learned AO and submitted that even if there is no exempt income disallowances required to be made. He further supported the order by The Finance Act 2022 amendment made in Section

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