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“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)

Essel Mining & Industries Limited, Kolkatta vs. DCIT Central Circle - 1(4), Mumbai

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 2430/KOL/2016[2012-13]Status: DisposedITAT Kolkata23 Jan 2025AY 2012-13

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A

DCIT Cen Cir 1(4), Mumbai vs. Essel Mining & Industries Ltd, Kolkatta

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 373/MUM/2015[2011-12]Status: DisposedITAT Kolkata23 Jan 2025AY 2011-12

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A

Essel Mining & Industries Limited, Kolkata vs. DCIT, Circle-5, Kolkata

In the result, the appeals filed by the Revenue are dismissed and appeals filed by the Assessee are partly allowed

ITA 2092/KOL/2014[2011-2012]Status: DisposedITAT Kolkata23 Jan 2025AY 2011-2012

Bench: SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

Section 10BSection 143(3)Section 14ASection 250Section 801A

IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH KOLKATA SHRI SANJAY GARG, JUDICIAL MEMBER SHRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A

Deputy Commissioner of Income Tax, Circle-Shillong, Shillong vs. Dhar Construction Company, Shillong

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

ITA 39/GTY/2024[2018-19]Status: DisposedITAT Guwahati22 Jan 2025AY 2018-19

Bench: Sri Manomohan Das & Sri Rakesh Mishra

Section 133(6)Section 142(1)Section 143(2)Section 143(3)Section 194CSection 250Section 69C

make the addition, however, this was a case of the expenses not being verified and, therefore, the expenses claimed under section 37(1) of the Act were liable to be disallowed as it could not be established in the absence of the vouchers that the expenditure was incurred for business

Deputy Commissioner of Income Tax 13(1)(2), Mumbai vs. Olive Bar & Kitchen Private Limited, Mumbai

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

ITA 6255/MUM/2024[2017-18]Status: DisposedITAT Mumbai22 Jan 2025AY 2017-18

Bench: Shri Amit Shukla & Smt. Renu Jauhriolive Bar & Kitchen Pvt. V/S. Acit, Circle-13(1)(1), बनाम Ltd. Mumbai 14 Union Park, Palli Hill Maharashtra-400020 Tourist Hotel Pvt. Ltd, Palli Hill Road, Khar West, Mumbai-400052 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaco5346G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Dcit, Circle-13(1)(2), V/S. Olive Bar & Kitchen Pvt. Mumbai बनाम Ltd. R. No. 218, Aayakar 14 Union Park, Palli Hill Bhavan, M K Road, Tourist Hotel Pvt. Ltd, Mumbai, Palli Hill Road, Khar West, Maharashtra-400020 Mumbai-400052 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaco5346G Appellant/अपीलार्थी Respondent/प्रतिवादी ..

For Appellant: Shri Mahesh RajoraFor Respondent: Shri Mahesh Pmnani
Section 250Section 35D(1)(ii)Section 36(1)(iii)Section 36(1)(lit)Section 37(1)

further submits that the expenses have not brought into existence any capital asset or enduring benefit and satisfy all the essential conditions of Section 37(1) of the Act; hence on the facts and circumstances of the case, disallowance of pre-operative expenses u/s 37(1) of the Act made ... operative expense is allowable only u/s 35D(1)(ii) of the Income Tax Act, 1961 to the extent mentioned therein and section 37(1) of the Income Tax Act also does not allow any capital expenditure. 3. On the facts and circumstances of the case

Olive Bar and Kitchen Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Circle - 13(1)(1), Mumbai

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

ITA 5924/MUM/2024[2017-18]Status: DisposedITAT Mumbai22 Jan 2025AY 2017-18

Bench: Shri Amit Shukla & Smt. Renu Jauhriolive Bar & Kitchen Pvt. V/S. Acit, Circle-13(1)(1), बनाम Ltd. Mumbai 14 Union Park, Palli Hill Maharashtra-400020 Tourist Hotel Pvt. Ltd, Palli Hill Road, Khar West, Mumbai-400052 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaco5346G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Dcit, Circle-13(1)(2), V/S. Olive Bar & Kitchen Pvt. Mumbai बनाम Ltd. R. No. 218, Aayakar 14 Union Park, Palli Hill Bhavan, M K Road, Tourist Hotel Pvt. Ltd, Mumbai, Palli Hill Road, Khar West, Maharashtra-400020 Mumbai-400052 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaaco5346G Appellant/अपीलार्थी Respondent/प्रतिवादी ..

For Appellant: Shri Mahesh RajoraFor Respondent: Shri Mahesh Pmnani
Section 250Section 35D(1)(ii)Section 36(1)(iii)Section 36(1)(lit)Section 37(1)

further submits that the expenses have not brought into existence any capital asset or enduring benefit and satisfy all the essential conditions of Section 37(1) of the Act; hence on the facts and circumstances of the case, disallowance of pre-operative expenses u/s 37(1) of the Act made ... operative expense is allowable only u/s 35D(1)(ii) of the Income Tax Act, 1961 to the extent mentioned therein and section 37(1) of the Income Tax Act also does not allow any capital expenditure. 3. On the facts and circumstances of the case

Shree Sai Alang House, Surat vs. ITO, Ward 2(2)(1), Surat

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

ITA 906/SRT/2024[2022-23]Status: DisposedITAT Surat21 Jan 2025AY 2022-23

Bench: Shri Pawan Singh & Shri Bijayananda Prusethआयकर अपील सं./Ita No.906/Srt/2024 (Ay 2022-23) (Physical Court Hearing) Shree Sai Alang House Income Tax Officer, Ward-2(2)(1), 13-15, Khodal Chhaya Society, Surat, Aaykar Bhawan, बनाम Surat Kamrej Road, Opp. Majura Gate, Vs Shyamdham Mandir, Surat-395 001 Surat-394 185 [Pan : Abefs 8896 D] अपीलाथ"/Appellant ""थ" /Respondent

Section 143(3)Section 254(1)Section 270ASection 271ASection 272A(1)(d)Section 37(1)Section 40A(2)(b)Section 68

आयकर अपीलीय अिधकरण, सूरत "ायपीठ, सूरत IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL

Ashfaque Ahmed Mecca, Chennai vs. ACIT, Central Circle 1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3100/CHNY/2024[2022-23]Status: DisposedITAT Chennai21 Jan 2025AY 2022-23

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Ashfaque Ahmed Mecca, Chennai vs. ACIT, Central Circle 1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3099/CHNY/2024[2021-22]Status: DisposedITAT Chennai21 Jan 2025AY 2021-22

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Ashfaque Ahmed Mecca, Chennai vs. ACIT, Central Circle 1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3098/CHNY/2024[2020-21]Status: DisposedITAT Chennai21 Jan 2025AY 2020-21

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Ashfaqufe Ahmed Mecca, Chennai vs. ACIT, Central Circle 1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3097/CHNY/2024[2019-20]Status: DisposedITAT Chennai21 Jan 2025AY 2019-20

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Mecca Iqbalahmed, Chennai vs. ACIT, Central Circle 1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3096/CHNY/2024[2022-23]Status: DisposedITAT Chennai21 Jan 2025AY 2022-23

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Mecca Iqbal Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3095/CHNY/2024[2021-22]Status: DisposedITAT Chennai21 Jan 2025AY 2021-22

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Mecca Iqbal Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3094/CHNY/2024[2020-21]Status: DisposedITAT Chennai21 Jan 2025AY 2020-21

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Mecca Iqbal Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3093/CHNY/2024[2019-20]Status: DisposedITAT Chennai21 Jan 2025AY 2019-20

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Israr Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3092/CHNY/2024[2022-23]Status: DisposedITAT Chennai21 Jan 2025AY 2022-23

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Israr Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3091/CHNY/2024[2021-22]Status: DisposedITAT Chennai21 Jan 2025AY 2021-22

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Israr Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3090/CHNY/2024[2020-21]Status: DisposedITAT Chennai21 Jan 2025AY 2020-21

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Israr Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3089/CHNY/2024[2019-20]Status: DisposedITAT Chennai21 Jan 2025AY 2019-20

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double

Mecca Rafeeque Ahmed, Chennai vs. ACIT, Central Circle-1(1), Chennai

In the result, the appeals filed by the assessees in ITA Nos

ITA 3088/CHNY/2024[2022-23]Status: DisposedITAT Chennai21 Jan 2025AY 2022-23

Bench: Shri George George Kand Shri Manoj Kumar Aggarwal

For Respondent: Shri Vinod D. Mudaliar, JCIT
Section 139(1)Section 148Section 2(24)(iv)Section 37(1)

hands of the assessee-Director amounts to double taxation for the following reasons: i) The Company, has already disallowed the personal expenses under Section 37(1) of the Act in its computation of income for the relevant assessment years and paid the applicable taxes. ii) The addition made ... mentioned earlier, the company had already disallowed the credit card payments related to personal in nature under section 37[1] of the Act as agreed by the assessee before the DDIT[investigation] during the course of the search. The action of the assessing officer and CIT(A) amounts to double