The ACIT, Circle-2(1)(2), Ahmedabad V. Jayhind Projects Ltd., Ahmedabad

ITA 2564/AHD/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0751 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 20-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Rule 8D
• Section: 143(3); 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH BEFORE: SHRI AMARJIT SINGH , ACCOUNTANT MEMBER AND MS. MADHUMITA ROY , JUDICIAL MEMBER THE ACIT, CIRCLE - 2( 1 )(2) , AHMEDABAD (APPELLANT) VS JAYHIND PROJECTS LTD. 3 RD FLOOR, OPP. PRAHLAD NAGAR GARDEN ANAND NAGAR ROAD, VEJALPUR AHMEDABAD PAN: AAACJ9366R (RESPONDENT) REVENUE BY : S H RI MUDIT NAGPAL , SR. D . R. ASSESSEE BY: NONE DATE OF HEARING : 18 - 03 - 2 019 DATE OF PRONOUNCEMENT : 25 - 03 - 2 019 / ORDER P ER : AMARJIT SINGH, ACCOUNTANT MEMBER : - THIS REVENUE S APPEAL FOR A.Y. 2014 - 15 , ARI SES FROM ORDER OF THE CIT(A) - 2, AHMEDABAD DATED 29 - 09 - 2 017 , IN PROCEEDINGS UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . 2. THE SOLITARY GROUND OF APPEAL OF THE REVENUE IS AGAINST THE DECISION OF LD. CI T(A) IN DELETING THE DISALLOWANCE OF RS. 94 , 47 , 497/ - U/S. 14A OF THE ACT. I T A NO . 2 564 / A HD/20 17 A S S ESSMENT YEAR 2014 - 15 I.T.A NO. 256 4 /AHD/20 17 A.Y. 2014 - 15 PAGE NO ACIT VS. JAYHIND PROJECTS LTD. 2 3. THE FACT IN BRIEF IS THAT DURING THE COURSE OF ASSESSMENT, THE ASSESSING OFFICER HAS NOTICED THAT ASSESSEE HAS MADE INVESTMENT OF RS. 15 , 26 , 82 , 000/ - AS ON 31 ST MARCH, 2014. THE REAFTER, THE ASSESSING OFFICER HAS COMPUT ED DISALLOWANCE OF RS. 94 , 47 , 497/ - AS PER PROVISION OF SECTION 14A R.W. RULE 8D OF THE ACT AND ADDED TO THE TOTAL INCOME OF THE ASSESSEE. 4. AGGRIEVED ASSESSEE HAS FILED APPEAL BEFORE THE LD. CIT(A). THE LD. CIT( A) HAS ALLOWED THE APPEAL OF THE ASSESSEE AFTER FOLLOWING THE DECISION OF JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. CORRTECH ENERGY PVT. LTD. (2014) 2 23 TAXMAN.COM 130. 5. WE HAVE HEARD THE LD. DEPARTMENTAL REPRESENTATIVE AND PERUSED THE MATE RIAL ON RECORD CAREFULLY. AFTER CONSIDERING THE DECISION OF HON BLE JURISDICTIONAL HIGH COURT IN THE ABOVE CITED CASE THAT NO DISALLOWANCE U/S. 14A IS TO BE MADE IN CASE ASSESSEE HAS NOT CLAIMED ANY EXEMPT INC OME, THEREFORE, CONSIDERING THE SAME, WE ARE O F THE VIEW THAT PROVISION OF SECTION 14A OF THE ACT IS NOT APPLICABLE IN THE CASE OF THE ASSESSEE, THEREFORE, WE DO NOT FIND ANY ERROR IN THE DECISION OF LD. CIT(A). ACCORDINGLY, WE DO NOT FIND ANY MERIT IN THE APPEAL OF THE REVENUE AND THE SAME IS DISMIS SED. 6. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PR ONOUNCED IN THE OPEN C OURT ON 25 - 03 - 201 9 SD/ - SD/ - ( MADHUMITA ROY ) ( AMARJIT SINGH ) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DAT ED 25 /03 /2019 I.T.A NO. 256 4 /AHD/20 17 A.Y. 2014 - 15 PAGE NO ACIT VS. JAYHIND PROJECTS LTD. 3 / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER/ , / ,