THE ACIT, COCHIN vs. M/S. KANNAN DEVAN HILLS PLANTATIONS CO., P. LTD, IDUKKI

In the result, the appeals filed by the assessee are allowed and the appeals filed

Bench: S/Shri George George K., Jm & Manjunatha G., Am

section 14A is only to the extent of disallowing expenditure incurred by the assessee in relation to the exempt income. This proportion or portion of the tax exempt income surely cannot swallow the entire amount. In other words, the disallowance contemplated u/s 14 A shall not exceed exempt income earned by the assessee. On perusal of the details available

M/S.KANNAN DEVAN HILLS PLANTATIONS CO. P. LTD,MUNNAR vs. THE ACIT, TRIVANDRUM

In the result, the appeals filed by the assessee are allowed and the appeals filed

Bench: S/Shri George George K., Jm & Manjunatha G., Am

section 14A is only to the extent of disallowing expenditure incurred by the assessee in relation to the exempt income. This proportion or portion of the tax exempt income surely cannot swallow the entire amount. In other words, the disallowance contemplated u/s 14 A shall not exceed exempt income earned by the assessee. On perusal of the details available

M/S.KANNAN DEVAN HILLS PLANTATIONS CO. P. LTD,MUNNAR vs. THE ACIT, COCHIN

In the result, the appeals filed by the assessee are allowed and the appeals filed

Bench: S/Shri George George K., Jm & Manjunatha G., Am

section 14A is only to the extent of disallowing expenditure incurred by the assessee in relation to the exempt income. This proportion or portion of the tax exempt income surely cannot swallow the entire amount. In other words, the disallowance contemplated u/s 14 A shall not exceed exempt income earned by the assessee. On perusal of the details available

M/S.KANNAN DEVAN HILLS PLANTATIONS CO. P. LTD,MUNNAR vs. THE ACIT, COCHIN

In the result, the appeals filed by the assessee are allowed and the appeals filed

Bench: S/Shri George George K., Jm & Manjunatha G., Am

section 14A is only to the extent of disallowing expenditure incurred by the assessee in relation to the exempt income. This proportion or portion of the tax exempt income surely cannot swallow the entire amount. In other words, the disallowance contemplated u/s 14 A shall not exceed exempt income earned by the assessee. On perusal of the details available

M/S. ASPINWALL & CO. LTD,COCHIN vs. THE DCIT, COCHIN

In the result, the appeal of the assessee stands dismissed

Bench: Shri P. K. Bansal & Shri George George K.Assessment Year:2011- 12

12 Vs M/s Aspinwall and Company Ltd. D.C.I.T., 50-926/A1-A5, Total Towers, Circle-1(1), Devankulangra, Edappally P.O., Kochi. Ernakulam. PAN:AACCA 2655 G (Appellant) (Respondent) Appellant by Shri Raja Kannal Respondent by Shri Shanthom Bose, CIT, D.R. Date of hearing 04/10/2017 Date of pronouncement 05/10/2017 ORDER PER P. K. BANSAL, V.P. This appeal has been filed

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ERNAKULAM

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, KOCHI vs. M/S.SFO TECHNOLOGIES P. LTD, ALUVA

In the result, this appeal filed by Revenue in ITA

Bench: Shri George Mathan, Jm & Shri Ramit Kochar, Am

Section 14A r.w.Rule 8D and made disallowance of expenditure to the tune of Rs.1,83,55,106/- which stood added to the income of the assesse vide assessment order dated 26.03.2014 passed by AO u/s 143(3) of the 1961 Act for ay: 2010-11, the working of which is as hereunder: “4.3 Accordingly, the disallowance u/s 14A read with

THE DCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

12. Suffice to say, it is very much evident that the Revenue’s endeavour herein is to revive the proportionate interest expenditure disallowance in assessee’s case relating to it’s exempt income. As against this, learned CIT(A) has recorded a categoric finding that the assessee had nowhere utilized it’s interest bearing funds in making exempt income yielding

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

12. Suffice to say, it is very much evident that the Revenue’s endeavour herein is to revive the proportionate interest expenditure disallowance in assessee’s case relating to it’s exempt income. As against this, learned CIT(A) has recorded a categoric finding that the assessee had nowhere utilized it’s interest bearing funds in making exempt income yielding

THEDCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

12. Suffice to say, it is very much evident that the Revenue’s endeavour herein is to revive the proportionate interest expenditure disallowance in assessee’s case relating to it’s exempt income. As against this, learned CIT(A) has recorded a categoric finding that the assessee had nowhere utilized it’s interest bearing funds in making exempt income yielding

THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

12. Suffice to say, it is very much evident that the Revenue’s endeavour herein is to revive the proportionate interest expenditure disallowance in assessee’s case relating to it’s exempt income. As against this, learned CIT(A) has recorded a categoric finding that the assessee had nowhere utilized it’s interest bearing funds in making exempt income yielding

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowed all these payments by invoking provisions of section 40(a)(ia) of the Act. The CBDT vide circular No.715 dated 8.8.1995 has also clarified that sections 194C and 194J refer to any sum paid. Thus as TDS is to be deducted on `any sum paid’; hence it does not make any difference as to whether the sum is paid

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

disallowed all these payments by invoking provisions of section 40(a)(ia) of the Act. The CBDT vide circular No.715 dated 8.8.1995 has also clarified that sections 194C and 194J refer to any sum paid. Thus as TDS is to be deducted on `any sum paid’; hence it does not make any difference as to whether the sum is paid

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 14A should be limited to only interest liability and not overheads or administrative expenditure; which should be considered for disallowance under rule 8D from 2007-08 onwards.” The conclusion of the Hon’ble Court was therefore that prior to 2007-08 no overhead or administrative expenditure could be disallowed and only interest expenditure could be disallowed. For AY after

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

section 14A should be limited to only interest liability and not overheads or administrative expenditure; which should be considered for disallowance under rule 8D from 2007-08 onwards.” The conclusion of the Hon’ble Court was therefore that prior to 2007-08 no overhead or administrative expenditure could be disallowed and only interest expenditure could be disallowed. For AY after