Income Tax Appellate Tribunal - Mumbai
Alkyl Amines Chemicals Limited,Navi ... vs Assistant Commissioner Of Income ... on 25 March, 2025
| आयकर अपीलीय अिधकरण ायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
"A" BENCH, MUMBAI
BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER
&
MS. KAVITHA RAJAGOPAL, HON'BLE JUDICIAL MEMBER
I.T.A. No. 1010/Mum/2025
Assessment Year: 2017-18
Alkyl Amines Chemical Limtied Assistant Commissioner of
401-407, Nirman Vyapar Kendra Vs Income Tax - Circle
Plot No. 10, Sector 17 15(1)(1), Mumbai
Vashi S.O., Thane
Navi Mumbai - 400703
[PAN: AAACA6783F]
अपीलाथ / (Appellant) यथ / (Respondent)
Assessee by : Shri Karan Jain & Shri Suraj Singh Devda, A/R
Revenue by : Shri Ram Krishn Kedia, Sr. D/R
सुनवाई की तारीख/ Date of Hearing : 25/03/2025
घोषणा की तारीख / Date of Prono uncement: 25/03/2025
आदे श/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
This appeal by the assessee is preferred against the order passed by the Addl./Joint Commissioner of Income-tax (Appeals), Agra [hereinafter "the ld. CIT(A)"], dated 31/12/2024 pertaining to AY 2017-18.
2. The sum and substance of the grievance of the assessee is that the ld. CIT(A) erred in confirming the disallowance made by the AO u/s 14A r.w.r. 8D amounting to Rs. 3,01,020/-.
3. Having heard the rival contentions, we have carefully perused the orders of the authorities below. The undisputed fact is that the assessee has earned no exempt income during the year under consideration. Therefore, provisions of Section 14A r.w.r 8D, do not apply as held by the Hon'ble Madras High Court in the case of CIT vs. I.T.A. No. 1010/Mum/2025 2 Chettinad Logistics Pvt. Ltd. [2017] 248 Taxman 55, wherein the Hon'ble High Court has held that Section 14A of the Act cannot be invoked where no exempt income was earned by the assessee in the relevant assessment year. SLP was dismissed by the Hon'ble Supreme Court preferred against this order of the Hon'ble High Court in [2018] 257 Taxman 2 (SC). Further, the insertion to the explanation in Section 14A of the Act, is prospective as held by the Hon'ble Delhi High Court in the case of Era Infrastructure 141 taxmann.com 289.
4. Respectfully following the judicial decisions discussed hereinabove, the additions made by the AO are directed to be deleted.
5. In the result, appeal of the assessee is allowed.
Order pronounced in the Court on 25th March, 2025 at Mumbai.
Sd/- Sd/- (MS. KAVITHA RAJAGOPAL) (NARENDRA KUMAR BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai, Dated 25/03/2025 *SC SrPs
आदे श की ितिलिप अ ेिषत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. थ / The Respondent
3. संबंिधत आयकर आयु! / Concerned Pr. CIT
4. आयकर आयु! (अपील)/ The CIT(A)-
5. िवभागीय ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai,
6. गाड% फाई/ Guard file.
आदे शानुसार/ BY ORDER TRUE COPY Assistant Registrar आयकर अपीलीय अिधकरण ITAT, Mumbai