DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

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

33]\n■ Having clarified the aforesaid position, the first and foremost issue that\nfalls for consideration is as to whether the dominant purpose test, which is\npressed into service by the assessees would apply while interpreting section\n14A or we have to go by the theory of apportionment. The dominant purpose\nfor which the investment into shares is made

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

33]\n■ Having clarified the aforesaid position, the first and foremost issue that\nfalls for consideration is as to whether the dominant purpose test, which is\npressed into service by the assessees would apply while interpreting section\n14A or we have to go by the theory of apportionment. The dominant purpose\nfor which the investment into shares is made

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

33 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited. 4.1 The next common issue is disallowance under section

M/S TATA GLOBAL BEVERAGES LIMITED,KOLKATA vs. THE DCIT, CIRCLE-4(2), KOLKATA, KOLKATA

In the result, the appeals filed by the assessee for AY 2012-

Bench: Dr. Manish Borad & Sonjoy Sarma

33 of 41 I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited. 4.1 The next common issue is disallowance under section

M/S. COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

disallowance is governed as per the\nprovisions detailed in section 14A of the Income Tax Act and in Rule 8D of\nthe Income Tax Rules. The charging of Capex charges for management\nservices and offering it to tax is correct, but has no relation with the provision\nenumerated in section 14A.\n7.5 The Ld. AR in this regard has submitted

COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

disallowance is governed as per the\nprovisions detailed in section 14A of the Income Tax Act and in Rule 8D of\nthe Income Tax Rules. The charging of Capex charges for management\nservices and offering it to tax is correct, but has no relation with the provision\nenumerated in section 14A.\n7.5 The Ld. AR in this regard has submitted

BISWANATH HOSIERY MILLS LTD.,KOLKATA vs. ACIT, CIR. 4(2), KOLKATA

In the result, the appeal of the assessee is allowed

Bench: Shri Anikesh Banerjee & Shri Rakesh Mishraassessment Year: 2017-18

Section 14A. This judgment reinforced that the disallowance should be proportionate to the actual exempt income.” 7.4. It was further stated that there are several other judicial pronouncements that emphasize that the disallowance u/s 14A is not applicable in the cases where there is no exempt income. The cases relied upon are as under: 1) “Eveready Industries India

SREELEATHERS LIMITED,KOLKATA vs. D.C.I.T., CIRCLE - 8(2),, KOLKATA

In the result, the appeal of the assessee is allowed

disallowance\nunder section 14A of the Act at Rs.47,43,027/- read with Rule 8D\nand added back to the total income of the assessee. Finally, ld.\nAssessing Officer assessed the total income of the assessee under\nsection 143(3) of the Income Tax Act at Rs.21,33

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33

MANISH COMPANY PVT. LTD.,KOLKATA vs. I.T.O., WARD-9(1), KOLKATA, KOLKATA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Girish Agrawalassessment Year: 2017-18

disallowance under Section 14A of the Act can be made if the assessee had not earned any exempt income), as the revenue has not been accepted the said decision and has preferred an SLP against the said decision. 5 Manish Company Pvt. Ltd. AY: 2017-18 4. Learned counsel for the petitioner also submits that in view of the amendment

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

In the result, the appeal filed by the Revenue in ITA No

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33

D.C.I.T CIR - 10(1), KOLKATA vs. M/S EUREKA FORBS LTD, KOLKATA

Section 14A to respective amounts offered by the\nassessee in its returns, ignoring the revised figures of disallowances\noffered by the assessee during the course of appeal proceedings. This\nfinding is also in accordance with the decision of the Hon'ble Supreme\nCourt in Maxopp Investment Ltd. Vs. CIT [2018] 402 ITR 640 (SC),\nparas 31 to 33

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

Bench: Sri Sonjoy Sarma & Sri Sanjay Awasthi

disallowance could be made under section 14A if no exempt income was earned by assessee - Held, yes [Paras 9 and 10] [The Hon’ble High Court relied on the order in the case of IL & FS Energy Development Co. Ltd. and Cheminvest Ltd. v. CIT [2015] 378 ITR 33

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Section 43B of the Income-tax Act, 1961. Therefore, the amounts are liable to be added as income in the hands of the assessee, the disallowance so made are confirmed and the grounds raised by the assessee are dismissed. 33

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Section 43B of the Income-tax Act, 1961. Therefore, the amounts are liable to be added as income in the hands of the assessee, the disallowance so made are confirmed and the grounds raised by the assessee are dismissed. 33

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Section 43B of the Income-tax Act, 1961. Therefore, the amounts are liable to be added as income in the hands of the assessee, the disallowance so made are confirmed and the grounds raised by the assessee are dismissed. 33

APEEJAY PVT. LTD.,KOLKATA vs. D.C.I.T., CIRCLE - 8(1), KOLKATA, KOLKATA

In the result, appeals of the assessee for Assessment Year 2013-14

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 116/Kol/2023 Assessment Year: 2013-14

Section 43B of the Income-tax Act, 1961. Therefore, the amounts are liable to be added as income in the hands of the assessee, the disallowance so made are confirmed and the grounds raised by the assessee are dismissed. 33