Search Results Page
Search Results
1 - 10 of 16 (0.10 seconds)Section 59 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax vs M/S Lakhani Marketing Inc on 3 December, 2010
"We do not find any infirmity in the order of the Ld. CIT
(A), who deleted the disallowance made following the
decision of the jurisdictional High Court in the case of
Lakhani Marketing (supra). The argument of the Ld. DR
that the CBDT Circular No.5/2014 dt. 11.02.2014 stating
that even in the absence of any exempt income
disallowance under Section 14A has to be made, is
binding on the Revenue authority, we find has no merit.
Section 15 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Central Excise,Bolpur vs M/S.Ratan Melting & Wire Industries on 14 October, 2008
In Ratan Melting and Wire Industries'
case (supra), it was held by the Supreme Court that 'circulars and
7 of 10
::: Downloaded on - 02-10-2018 14:48:07 :::
ITA-322-2016 -8-
instructions issued by the Board are no doubt binding in law on the
authorities under the respective statutes, but when the Supreme Court or the
High Court declares the law on the question arising for consideration, it
would not be appropriate for the court to direct that the circular should be
given effect to and not the view expressed in a decision of this court or the
High Court. So far as the clarifications/circulars issued by the Central
Government and of the State Government are concerned they represent
merely their understanding of the statutory provisions. They are not binding
upon the court. It is for the Court to declare what the particular provision of
statute says and it is not for the Executive. Looking at from another angle, a
circular which is contrary to the statutory provisions has really no existence
in law.
Commissioner Of Income Tax-Iv vs Holcim India P. Ltd. on 5 September, 2014
Similarly, in Holcim India (P)
Ltd's case (supra), the Delhi High Court had laid down that Section 14A of
the Act cannot be invoked when no exempt income was earned.
Cheminvest Limited vs Commissioner Of Income Tax-Vi on 2 September, 2015
In Cheminvest Ltd's case (supra), it was
reiterated that Section 14A of the Act envisages that there should be an
8 of 10
::: Downloaded on - 02-10-2018 14:48:07 :::
ITA-322-2016 -9-
actual receipt of income, which is not includable in the total income during
the relevant previous year for purpose of disallowing any expenditure under
Section 14A of the Act in relation to said income.
M/S.Redington (India) Ltd vs The Additional Commissioner Of Income ... on 26 June, 2015
Identical
view was expressed by Madras High Court in Redington (India) Ltd's case
(supra), where it was enunciated that no disallowance under Section 14A
read with Rule 8(d) of the Income Tax Rules, 1962 (in short "1962 Rules")
can be made in respect of an assessment year in which no exempt income is
earned.
Principal Commissioner Of Income Tax 4 vs M/S Il And Fs Energy Development ... on 11 May, 2018
In IL&FS Energy Development Company Limited's case
(supra), the Delhi High Court had expressed that the CBDT Circular dated
11.2.2014 cannot override the express provisions of Section 14A read with
Rule 8 D of the 1962 Rules.