“Section 37(1)”

Section References (mined)Section 37Section 37(1)4,308 judgments

The decision most relied on for Section 37(1) is CIT v. Reliance Utilities & Power Ltd. (313 ITR 340), cited in 2,118 judgments on BharatTax.

Leading authorities on Section 37(1)

CIT v. Reliance Utilities & Power Ltd.

313 ITR 340 · 2009 · High Court

2,118

citing judgments

Where an assessee claims that investments were made out of own funds, interest disallowance under Section 14A read with Rule 8D may not apply if the assessee demonstrates the availability of sufficient interest-free funds to cover such investments.

Goetze (India) Ltd. v. CIT

284 ITR 323 · 2006 · Supreme Court

1,842

citing judgments

An assessee cannot raise a new claim or a claim not made in the original or revised return of income for the first time directly before the Assessing Officer during assessment proceedings.

Maxopp Investment Ltd. v. CIT

402 ITR 640 · 2018 · Supreme Court

1,596

citing judgments

Disallowance under Section 14A is not automatic and requires the Assessing Officer to record satisfaction before applying Rule 8D. Only investments yielding exempt income are considered for disallowance, irrespective of their strategic nature.

Cheminvest Ltd. v. CIT

378 ITR 33 · 2015 · High Court

1,569

citing judgments

A disallowance under Section 14A of the Income-tax Act, 1961, for expenditure incurred in relation to exempt income cannot be made if the assessee has not earned any exempt income during the relevant previous year.

Checkmate Services Pvt. Ltd. v. CIT

143 Taxmann.com 178 · 2022 · Supreme Court

1,392

citing judgments

Employee contributions to provident fund and ESI deposited by an employer beyond the due dates prescribed under the respective special Acts are not allowable as a deduction under section 36(1)(va) of the Income-tax Act, 1961. Such disallowance can be made during processing under section 143(1).

CIT v. HDFC Bank Ltd.

366 ITR 505 · 2014 · High Court

1,261

citing judgments

When an assessee possesses interest-free funds sufficient to cover investments yielding tax-free income, it is presumed that such investments were made from these interest-free funds, precluding disallowance of interest expenditure under Section 14A.

Godrej & Boyce Mfg. Co. Ltd. v. DCIT

328 ITR 81 · 2010 · High Court

1,183

citing judgments

Rule 8D, for computing disallowance under Section 14A for expenses related to exempt income, applies from Assessment Year 2008-09 onwards; for prior years, a reasonable disallowance must be made. The disallowance under Section 14A cannot exceed the actual exempt income earned.

CIT v. Woodward Governor India Pvt. Ltd.

312 ITR 254 · 2009 · Supreme Court

968

citing judgments

Foreign exchange fluctuations, whether gains or losses, are inextricably linked to the underlying business transaction and must be accounted for under the mercantile system. The Supreme Court also affirmed the standard accounting principle of valuing stock at cost or net realisable value, whichever is lower.

Judgments citing Section 37(1)

DCIT, C-11(1), New Delhi vs. Hero Motocorp Ltd., New Delhi

Appeal of the Revenue is dismissed

ITA 1982/DEL/2019[2014-15]Status: DisposedITAT Delhi03 Feb 2023AY 2014-15

Bench: Shri Narendra Kumar Billaiya & Shri Kul Bharat

Section 14ASection 2(22)(e)Section 40Section 40a

Rs.31.84 lacs under section 36(l)(iii) and amount of Rs. 65.91 lacs [132.94 -67.03], being half percent of average investment, under section 37(1) of the Act. Further, the assessing officer, while computing 'book profit’, made an adjustment of Rs.97.75 lacs computed under section 14A read with Rule ... disallowing interest expenditure to the extent of Rs.31.84 lacs under section 36(l)(iii) and amount of Rs. 65.91 lacs [132.94 -67.03] under section 37(1) of the Act, the CIT(A) held that since borrowed funds have been utilized in regular business activities and not for making the investment

Logix Heights Private Ltd, Dlehi vs. Asstt. Commissioner of Income Tax, Central Circle 13

In the result, this appeal filed by the assessee stands partly allowed

ITA 264/DEL/2022[2019-20]Status: DisposedITAT Delhi02 Feb 2023AY 2019-20

Bench: Due Date Of Filing Of Itr U/S 139(1) & The Amendment As Made In The Section By Finance Bill 2020 Is Effective From A.Y 2020-21 .

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Jitender Chand, Sr. DR

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 34(1)(iv)Section 36Section 36(1)(va)Section 37Section 37(1)Section 43B

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI KUL BHARAT

Mahagun India Pvt. Ltd, Delhi vs. Dy. Commissioner of Income Tax, Central Circle 13

In the result, this appeal filed by the assessee stands partly allowed

ITA 263/DEL/2022[2019-20]Status: DisposedITAT Delhi02 Feb 2023AY 2019-20

Bench: Due Date Of Filing Of Itr U/S 139(1) & The Amendment As Made In The Section By Finance Bill 2020 Is Effective From A.Y 2020-21 .

For Appellant: NoneFor Respondent: Shri Jitender Chand, Sr. DR

Section 139Section 139(1)Section 143Section 143(1)Section 2(24)(x)Section 34(1)(iv)Section 36Section 36(1)(va)Section 37Section 37(1)

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI KUL BHARAT

Nexgen Infracon Private Limited, Delhi vs. Asstt. Commissioner of Income Tax, Delhi

In the result, this appeal filed by the assessee stands partly allowed

ITA 261/DEL/2022[2019-20]Status: DisposedITAT Delhi02 Feb 2023AY 2019-20

Bench: Due Date Of Filing Of Itr U/S 139(1) & The Amendment As Made In The Section By Finance Bill 2020 Is Effective From A.Y 2020-21 .

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Jitender Chand, Sr. DR

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 34(1)(iv)Section 36Section 36(1)(va)Section 37Section 37(1)Section 43B

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘E’ : NEW DELHI) SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER and SHRI KUL BHARAT

Boutique Hotels India Pvt. Ltd., New Delhi vs. ACIT Circle-5(1), New Delhi

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

ITA 1013/DEL/2020[2016-17]Status: DisposedITAT Delhi31 Jan 2023AY 2016-17

Bench: Shri Kul Bharat[Assessment Year : 2016-17] M/S. Boutique Hotels India Vs Acit, Pvt.Ltd., B-106, Gujranwala Town, Circle-5(1), Part-1, Opp.Model Town 2, New Delhi New Delhi-110049 Pan-Aaach2439K Appellant Respondent Appellant By Shri Rohit Golecha, Ca Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 18.01.2023 Date Of Pronouncement 31.01.2023

Section 143(3)Section 37Section 37(1)

business of the appellant, the Ld. CIT(A) erred in confirming action of the Ld AO in not allowing the same under section 37(1) of the Act. 3. On the facts and circumstances of the case as well as in law the Ld. CIT(A) erred in confirming action

Cairn Energy Hydrocarbon Ltd., Gurgaon vs. DCIT, Intl. Taxation, Circle, Gurgaon

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 6278/DEL/2018[2014-15]Status: DisposedITAT Delhi31 Jan 2023AY 2014-15

Bench: Sh. Saktijit Deydr. B. R. R. Kumarita No. 6357/Del/2013: Asstt. Year : 2010-11 Dcit, Vs Cairn Energy Hydrocarbon Ltd., C/O. Cairn India Ltd., 3Rd & 4Th Circle-3(2), International Taxation, Floor, Vipul Plaza, Suncity, Sector- New Delhi 54, Gurgaon (Appellant) (Respondent) Pan No. Aaccc3279J

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

prescribed parameters, the entire section becomes non-workable. Consequently, the Assessee would become entitled to full deduction under section 37(1) of the Act in respect of its head office expenses. - CIT v. Deutsche Bank A.G. [(20oy) Taxman 37 (Bom.)] 61. We find that

Cairn Energy Hydrocarbon Ltd., Gurgaon vs. DCIT, Intl. Taxation, Circle, Gurgaon

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 6277/DEL/2018[2013-14]Status: DisposedITAT Delhi31 Jan 2023AY 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

DCIT, Intl. Taxation, Circle, Gurgaon vs. Cairn Energy Hydrocarbon Ltd., Gurgaon

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 5989/DEL/2018[2014-15]Status: DisposedITAT Delhi31 Jan 2023AY 2014-15

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

DCIT, Intl. Taxation, Circle, Gurgaon vs. Cairn Energy Hydrocarbon Ltd., Gurgaon

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 5988/DEL/2018[2013-14]Status: DisposedITAT Delhi31 Jan 2023AY 2013-14

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

DDIT, New Delhi vs. M/S. Cairn Energy Hydrocarbons Ltd., Gurgaon

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 6357/DEL/2013[2010-11]Status: DisposedITAT Delhi31 Jan 2023AY 2010-11

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

Cairn Energy Hydrocarbons Ltd., Gurgaon vs. DDIT, New Delhi

In the result, the appeals of the assessee are partly allowed and the appeals of the revenue are dismissed

ITA 6346/DEL/2013[2010-11]Status: DisposedITAT Delhi31 Jan 2023AY 2010-11

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR

Section 40aSection 57Section 80I

Kendrapara Urban Co-Operative Bank Ltd., Kendrapada vs. Pr.Commissioner of Income Tax, Cuttack

In the result, appeal of the assessee stands allowed

ITA 163/CTK/2020[2015-16]Status: HeardITAT Cuttack30 Jan 2023AY 2015-16

Bench: Shri George Mathan & Shri Arun Khodpiaआयकर अऩीऱ सं/Ita No.163/Ctk/2020 (ननधाारण वषा / Assessment Year :2015-2016) Kendrapara Urban Co-Operative Vs Pr.Cit, Cuttack Bank Ltd., College Square, Tinimuhani, Kendrapara-754211 Pan No. :Aaatk 8347 E (अऩीऱाथी /Appellant) .. (प्रत्यथी / Respondent) ननधााररती की ओर से /Assessee By : Shri P.C.Sethi, Advocate राजस्व की ओर से /Revenue By : Shri M.K.Gautam, Cit-Dr सुनवाई की तारीख / Date Of Hearing : 30/01/2023 घोषणा की तारीख/Date Of Pronouncement : 30/01/2023 आदेश / O R D E R Per Bench : This Is An Appeal Filed By The Assessee Against The Order Of The Ld Pr.Cit, Cuttack, Dated 24.03.2020, Passed In Din & Order No.Itba/Com/F/17/2019-20/1026884702(1) For The Assessment Year 2015-2016. 2. The Appeal Of The Assessee Is Barred By 8 Days. The Assessee Through Its Secretary Has Filed An Application Dated 13.07.2020 Stating Therein Sufficient Reasons For Condonation Of Delay, To Which Ld. Cit-Dr Did Not Object. In View Of The Above, Delay Of 8 Days In Filing The Present Appeal Is Condoned & The Appeal Of The Assessee Is Heard Finally. 3. It Was Submitted By The Ld. Ar That The Original Assessment In The Case Of The Assessee Was Completed U/S.143(3) Of The Act On 20.11.2017. It Was The Submission That The Assessment Was A Limited Scrutiny

For Appellant: Shri P.C.Sethi, AdvocateFor Respondent: Shri M.K.Gautam, CIT-DR

Section 143(3)Section 14ASection 263Section 36(1)(viia)Section 40

आयकर अऩीऱीय अधधकरण, कटक न्यायऩीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK श्री जाजज माथन, न्याययक सदस्य

M/S. M.G.M. Mohanty, Bhubaneswar vs. DCIT, Circle-2(1), Bhubaneswar

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

ITA 129/CTK/2019[2014-15]Status: HeardITAT Cuttack30 Jan 2023AY 2014-15

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 2014-15 M/S. M/S. M.G.Mohanty, M.G.Mohanty, 5 5-A, Vs. Dcit, Circle 2(1), Dcit, Circle 2(1), Forest Park, Bhubaneswar. Forest Park, Bhubaneswar. Bhubaneswar Bhubaneswar Pan/Gir No. Pan/Gir No.Aaffm 2127 H (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri B.K.Mohapatra/A.K.Sambat, Cas B.K.Mohapatra/A.K.Sambat, Cas Revenue By : Shri M.K.Gautam, Cit : Shri M.K.Gautam, Cit Dr Date Of Hearing : 30/1 1/2023 Date Of Pronouncement : 30/1 1/2023 O R D E R Per Bench This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld This Is An Appeal Filed By The Assessee Against The Order Of The Ld Cit(A)-1, Bhubaneswar 1, Bhubaneswar Dated 27.2.2019 In Appeal No.0380/16 Dated 27.2.2019 In Appeal No.0380/16-17 For The Assessment Year Assessment Year 2014-15. 2. S/Shri B.K.Mohapatra/A.K.Sabat, Ld Ars Appeared For The Assessee S/Shri B.K.Mohapatra/A.K.Sabat, Ld Ars Appeared For The Assessee S/Shri B.K.Mohapatra/A.K.Sabat, Ld Ars Appeared For The Assessee & Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue. & Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue. & Shri M.K.Gautam, Ld Cit Dr Appeared For The Revenue.

For Appellant: Shri B.K.Mohapatra/A.K.Sambat, CASFor Respondent: Shri M.K.Gautam, CIT

Section 37(1)

local employees were associated. It was the submission that both the expenses were liable to be allowed even under the provisions of section 37(1) of the Act itself. It was fairly agreed by the ld AR that the Companies Act Amendment of 2013 in the CSR Rules w.e.f ... file of the Assessing Officer for examination, re-verification and adjudication as to whether the same is allowable under the provisions of section 37(1) of the Act as business expenses as against peripheral development expenses after allowing adequate opportunity of hearing to the assessee. 7. In respect of issue

ITO, Ward-2(3)(8), Surat vs. Mukeshkumar Lalchand Jain, Surat

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

ITA 452/SRT/2019[2008-09]Status: DisposedITAT Surat30 Jan 2023AY 2008-09

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.452/Srt/2019 ("नधा"रण वष" /Assessment Year: (2008-09) (Physical Court Hearing) Income Tax Officer, Ward- Mukeshkumar Lalchand Jain, 2(3)(8), Room No.407, 4Th Prop. Of M/S Mukesh Diamonds, 1St Floor, Anavil Business Vs. Office No. 401, Floor, H. Centre, Adajan-Hajira Road, No.5/1171/72/73/1090, New Dtc, Adajan, Surat-395009 Hath Falia, Haripura, Surat – 395008. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Agupj3281A (Appellant)/(Revenue) (Respondent)/(Assessee)

Section 147Section 148

since this amount does not pertain to bogus purchases. However, for remaining purchases/ entries, the Ld. DR submitted that as per section 37(1) of the Act there should be 100% addition on account of bogus purchases. ITA No.452/SRT/2019/AY.2008-09 Mukeshkumar Lalchand Jain 8. On the other hand, Shri

Haier Appliances India P.Ltd, New Delhi vs. ACIT, Circle-11(1), New Delhi

ITA 1458/DEL/2022[2015-16]Status: DisposedITAT Delhi24 Jan 2023AY 2015-16

Section 115JSection 143(3)Section 250Section 37(1)

appellant on account of telecommunication were incurred wholly and exclusively for the purpose of business of the appellant, and deductible under section 37(1) of the Act. 3.2 That the CIT(A) erred on facts and in law in passing ex-parte order sustaining the ad-hoc disallowance of telecom

M/S M/S Bagadiya Brothers Pvt.Ltd., Raipur, Raipur (Cg) vs. The Dy. Commissioner of Income Tax, -2(1), Raipur, Raipur (Cg)

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

ITA 37/BIL/2017[2011-12]Status: DisposedITAT Raipur24 Jan 2023AY 2011-12

Bench: Shri Ravish Sood & Shri G D Padmahshaliआयकर अपील सं. / Ita No. 37/Rpr/2017 "नधा"रण वष" / Assessment Year : 2011-12 Bagadiya Brothers Pvt. Ltd. Bagadiya Mansion, Jawahar Nagar, Raipur (C.G.) Pan : Aabcb8934G .......अपीलाथ" / Appellant बनाम / V/S. The Dy. Commissioner Of Income Tax-2(1), Raipur (C.G.) ……""यथ" / Respondent

For Appellant: Shri G.S.Agrawal, CAFor Respondent: Shri Debashish Lahiri, CIT-DR

Section 143(2)Section 143(3)Section 35D

आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI RAVISH

Indera Garments Pvt. Ltd, Rourkela vs. ADIT, CPC, Bangalure

In the result, appeals of the assessee stand partly allowed for statistical purposes

ITA 172/CTK/2022[2019-20]Status: DisposedITAT Cuttack23 Jan 2023AY 2019-20

Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaita Nos.171 & 172/Ctk/20 /Ctk/2022 Assessment Year Assessment Years : 2018-2019 & 2019 2019 & 2019-2020 Indera Garments Pvt Ltd., Indera Garments Pvt Ltd., Vs. Dcit, Cpc, Income Tax Dcit, Cpc, Income Tax Main Main Road, Road, Rourkela, Rourkela, Department, Bangalore Department, Bangalore Sundargarh Pan/Gir No. Pan/Gir No.Aaaci 9173 R (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri Pawan Kumar Agarwal,Ar Pawan Kumar Agarwal,Ar Revenue By : Shri S.C.Mohanty, Sr S.C.Mohanty, Sr Dr Date Of Hearing : 23/01 01/2023 Date Of Pronouncement : 23/01 /01/2023 O R D E R

For Appellant: Shri Pawan Kumar Agarwal,ARFor Respondent: Shri S.C.Mohanty, Sr

Section 139(1)Section 36(1)(va)Section 43B

IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH

Indera Garments Pvt. Ltd, Rourkela vs. ADIT, CPC, Bangalure

In the result, appeals of the assessee stand partly allowed for statistical purposes

ITA 171/CTK/2022[2018-19]Status: DisposedITAT Cuttack23 Jan 2023AY 2018-19

For Appellant: Shri Pawan Kumar Agarwal,ARFor Respondent: Shri S.C.Mohanty, Sr

Section 139(1)Section 36(1)(va)Section 43B

IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH

Retina Forum, Delhi vs. CIT Exemption, Delhi

The appeal of the assessee is partly allowed for statistical purposes

ITA 1050/DEL/2022[-]Status: DisposedITAT Delhi20 Jan 2023

Bench: Shri R.S. Syal & Smt Suchitra Kamble

Section 142(1)Section 143(2)Section 68

detail regarding these expenses. The assessee should have not claimed this claim of bad debt u/s 37 of the Income Tax Act, 1961. Section 37(1) of the Income Tax Act, 1961 provides that “Any expenditure (not being expenditure of the nature described in Sections

Retina Forum, Delhi vs. CIT Exemption, Delhi

The appeal of the assessee is partly allowed for statistical purposes

ITA 1049/DEL/2022[-]Status: DisposedITAT Delhi20 Jan 2023

Bench: Shri R.S. Syal & Smt Suchitra Kamble

Section 142(1)Section 143(2)Section 68