M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. THE ACIT-CIRCLE 2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

disallowance under section 14A was called for. 3. That on the facts and circumstances of the case and in law, except

M/S. COMPUTER SCIENCES CORPORATION INDIA PRIVATE LIMITED,INDORE vs. THE ASST. COMMISSIONER OF INCOME TAX-2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

disallowance under section 14A was called for. 3. That on the facts and circumstances of the case and in law, except

THE ACIT-2(1), UJJAIN vs. M/S. TURQUISE INVESTMENT & FINANCE PVT.LTD., NAGDA

In the result, against total disallowance of Rs

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

disallowance shall be determined by the assessing officer in accordance with the provisions of sub-section (2) and sub-section (3) of section 14A

THE ACIT, CENTRAL-1, INDORE vs. M/S. ARIHANT CAPITAL MARKETS LTD., INDORE

In the result, the appeal of the revenue and cross objection of

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

3. At the outset, the learned counsel for the assessee requested for not pressing both the grounds raised in cross objections. The learned DR has no objection. We, therefore, dismiss the grounds raised in cross objection of the assessee. 4. Now we are left with the revenue’s appeal. Apropos ground no. 1 relating to disallowance u/s 14A

ACIT, KHANDWA vs. M/S C.P. INDUSTRIAL PRODUCTS PVT. LTD. , BURHANPUR

In the result the appeal of the revenue is dismissed

Bench: Hon'Ble V. Durga Rao & Hon'Ble Manish Boradassessment Year 2010-11 Assistant Commissioner Of M/S. C.P. Industrial Income Tax, Vs. Products Pvt. Ltd, Khandwa Burhanpur (M.P) (Appellant) (Respondent ) Pan No.Aaccc1362 Revenue By Shri K.G. Goyal. Sr. D.R. Assessee By S/Shri S.N. Agrawal & Pankaj Mogra, Ca’S Date Of Hearing 25.02.2019 Date Of Pronouncement 27.02.2019 O R D E R

3,25,00,000/- which was lower than the interest free funds as available with the assessee. Hence, there was no justification for making disallowance by invoking the provision of section 14A

ACIT CENTRAL-2, INDORE vs. M/S KALLYAN TOLL INFRASTRUCTURE LTD, INDORE

In the result, appeals of the Revenue ITANo

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year:2017-18 Acit Central-2, M/S Kalyan Toll Infrastructure Indore Ltd., Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Aacck1840M Assessment Year:2015-16 Acit Central-2, M/S Keti Sangam Infrastructure India Ltd., Indore बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No.Aadck0129Q Revenue By Shri P.K. Mitra, Cit-Dr Assessees By Shri Ajay Tulsiyan, Ca Date Of Hearing: 22.12.2021 Date Of Pronouncement: 08.03.2022 आदेश / O R D E R

3) while holding that all expenses connected with the exempt income have to be disallowed u/s l4A whether such expenses are direct or indirect, fixed or variable and managerial or financial in accordance with law. It is seen that the AO has worked out the total disallowance of Rs. 6,34,77,810/- under section 14A

ACIT,CENTRAL-2, INDORE vs. M/S KRTI SANGAM INFRASTRUCTURE LTD , INDORE

In the result, appeals of the Revenue ITANo

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year:2017-18 Acit Central-2, M/S Kalyan Toll Infrastructure Indore Ltd., Indore बनाम/ (Appellant) (Respondent ) Vs. P.A. No.Aacck1840M Assessment Year:2015-16 Acit Central-2, M/S Keti Sangam Infrastructure India Ltd., Indore बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No.Aadck0129Q Revenue By Shri P.K. Mitra, Cit-Dr Assessees By Shri Ajay Tulsiyan, Ca Date Of Hearing: 22.12.2021 Date Of Pronouncement: 08.03.2022 आदेश / O R D E R

3) while holding that all expenses connected with the exempt income have to be disallowed u/s l4A whether such expenses are direct or indirect, fixed or variable and managerial or financial in accordance with law. It is seen that the AO has worked out the total disallowance of Rs. 6,34,77,810/- under section 14A

M/S. TREASURE WORLD DEVELOPERS PVT. LTD.,INDORE vs. THE ACIT 2(1), INDORE

In the result both the Cross Appeals are dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Treasure World Acit 4(1), बनाम/ Developers Pvt. Ltd, Indore Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Assessee/Appellant) (Revenue/Respondent) Acit 4(1), M/S. Treasure World बनाम/ Indore Developers Pvt. Ltd, Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Revenue/Appellant) (Assessee/Respondent)

3. Thus the solitary common issue has been raised in these Cross Appeals is regarding the disallowance made by the A.O u/s 14A of the I.T. Act to the tune of Rs.13.88 crores which was restricted by CIT(A) to Rs.6.48 crores. Thus both the assessee as well as revenue are aggrieved by the impugned order

THE DCIT, 2(1), INDORE vs. M/S. TREASURE WORLD DEVELOPERS PVT. LTD., INDORE

In the result both the Cross Appeals are dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S. Treasure World Acit 4(1), बनाम/ Developers Pvt. Ltd, Indore Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Assessee/Appellant) (Revenue/Respondent) Acit 4(1), M/S. Treasure World बनाम/ Indore Developers Pvt. Ltd, Vs. Through Office Of The Official Liquidator, High Court Of Bombay, Bank Of India Building, 5Th Floor, M.G. Road, Indore (Pan: Abopb0352F ) (Revenue/Appellant) (Assessee/Respondent)

3. Thus the solitary common issue has been raised in these Cross Appeals is regarding the disallowance made by the A.O u/s 14A of the I.T. Act to the tune of Rs.13.88 crores which was restricted by CIT(A) to Rs.6.48 crores. Thus both the assessee as well as revenue are aggrieved by the impugned order

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

In the result, appeal of assessee is partly allowed

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

disallowance u/s 14A can be restricted to such exempt income. So far as the applicability of the amendment in section 14A vide Finance Act 2022 with retrospective effect is concerned this issue has been considered by the Hon’ble Delhi High Court in case of Pr. CIT vs. Era Infrastructure India Ltd. (supra) in para 3

SHRI MANISH KALANI,INDORE vs. THE DCIT 1(1), INDORE

In the result, the grounds of appeal taken by the assessee in both the assessment years are allowed

Bench: Shri D.T. Garasia & Shri O.P. Meena

disallowance made of Rs.28345/- under section 14A of Income Tax Act. 6. Similarly, in the case of Shri Manish Kalani, who is also an individual and filed the return of income on 06.12.2010 in response to proceedings initiated under section 153A of the Income Tax Act vide notice under section 153A dated 22.10.2010 declaring total income at Rs.1

SHRI SAURABH KALANI,INDORE vs. THE DCIT 1(1), INDORE

In the result, the grounds of appeal taken by the assessee in both the assessment years are allowed

Bench: Shri D.T. Garasia & Shri O.P. Meena

disallowance made of Rs.28345/- under section 14A of Income Tax Act. 6. Similarly, in the case of Shri Manish Kalani, who is also an individual and filed the return of income on 06.12.2010 in response to proceedings initiated under section 153A of the Income Tax Act vide notice under section 153A dated 22.10.2010 declaring total income at Rs.1

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

section 143(3) on 30.03.2016, making addition on various grounds. Thereafter the assessee preferred an appeal before the ld CIT(A) who vide the year-wise impuged orders deleted part of the 3 IT(SS)A No.83,84,86,87,90,91,109,110 & ITA, No.922 &923/Ind/2019 AG8 Ventures Ltd. additions. Against the orders of ld CIT(A) both

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

section 143(3) on 30.03.2016, making addition on various grounds. Thereafter the assessee preferred an appeal before the ld CIT(A) who vide the year-wise impuged orders deleted part of the 3 IT(SS)A No.83,84,86,87,90,91,109,110 & ITA, No.922 &923/Ind/2019 AG8 Ventures Ltd. additions. Against the orders of ld CIT(A) both

RAJRATAN GLOBAL WIRES LTD. ,INDORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 4(1), INDORE, INDORE

In the result Ground No.1 of the assessee’s appeal is allowed

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

disallowance of interest could be made under section 14A where investment was made by assessee on last day of relevant year. 7. Ld. Counsel for the assessee submitted that at the outset, the judgment in the case of M/s. Goetze India Ltd 284 ITR 323 (SC) was on a limited issue or revised claim by submitting a letter

SMT. PADMA KALANI,INDORE vs. THE DCIT 1(1), INDORE

In the result, the grounds of appeal taken by the

Bench: Shri D.T. Garasia & Shri O.P. Meena

Section 153A on 27.12.2011 by determining total income at Rs. 11,020/- for the assessment year 2006-07 by making disallowances at Rs. 3,98,857/- u/s 14A

AVAILABLE FINANCE LIMITED,INDORE vs. DCIT 1(1) , INDORE

In the result, the appeal of the assessee bearing ITA No

Bench: Sh. Bagirath Mal Biyani & Sh. Udayan Das Gupta

3 companies, but has not earned any exempted income during the year in respect of the said investments in listed or unlisted concerns , and in the absence of any exempted income earned during the year, the provisions of section 14A is not attracted in the instant case. However, as a gesture of cooperation, the assessee company suo moto disallowed

SHRI GURVINDER SINGH BHATIA,INDORE vs. THE ADDL. CIT, RANGE-3, INDORE

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year:2009-10 Gurvinder Singh Bhatia, Addl. Cit, 8/5, Bcc House, Range 3, बनाम/ Manormaganj, Indore. Vs. Indore. (Assessee / Appellant) (Revenue / Respondent) Pan: Abhpb 5245 N Assessee By Shri Harsh Vijaywargiya, Ca & Ld. Ar Revenue By Ms. Simran Bhullar, Cit Dr Date Of Hearing 19.12.2023 Date Of Pronouncement 21.12.2023

section 14A / rule 8D but it is not coming from AO’s order as to how the amount of disallowance has been arrived at. Ld. AR is right in claiming that the disallowance has no working and it is arbitrary. Thirdly, the assessee has maintained separate books of his proprietary business M/s Bhatia Coal Corporation and personal affairs. The interest