Ashok Mahindra, V. ITO Ward 2 (2),

ITA 2632/DEL/2007

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 98048 (ITAT-DELHI)
• Duration Of Justice: 8 year(s) 6 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-12-2015
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Next Hearing Date: 02-12-2015
• Assessment Year: 2000-2001
• Appeal Filed On: 24-05-2007
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: MANOJ K CHOPRA
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI A.T. VARKEY , JUDICIAL MEMBER ITA NO. 2632 /DEL/20 07 AY: 20 00 - 2001 AND ITA NO. 2635 /DEL/20 07 AY: 2004 - 05 SH. ASHOK MAHINDRU VS. ITO, WARD 2(2) 4 D, LSC, A BLOCK, RING ROAD NEW DELHI NARAINA NEW DELHI 110 028 (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI S OMIL AGGARWAL, ADVOCATE RESPONDENT BY : SH. MANOJ K CHOPRA , SR. DR ORDER BOTH THESE APPEALS ARE FILED BY THE ASSESSEE. THE SOLE ISSUE THAT ARISES FOR OUR ADJUDICATION IS WHETHER THE DISALLOWANCE MADE U/S 14A OF THE INCOME TAX ACT 1961 (THE ACT ) HAS BEEN RIGHTLY SUSTAINED BY THE LD.CIT(APPEALS). THE ASSESSEE HAS NOT PRESSED T HE GROUNDS TAKEN ON REOPENING. 2. HEARD SHRI SOMIL AGGARWAL, THE LD.COUNSEL FOR THE ASSESSEE AND SHRI MANOJ K CHOPRA, LD.SR.D.R. ON BEHALF OF THE REVENUE. 3. THE UNDISPUTED FACTS IN BOTH THESE CASES, IS THAT THE ASSESSEE HAS NOT EARNED ANY INCOME BY WAY OF DIVIDEND DURING THESE TWO ASSESSMENT YEARS. UNDER THESE CIRCUMSTANCES NO DISALLOWANCE CAN BE MADE U/S 14A OF THE ACT AS HELD BY T HE HON BLE DELHI HIGH COUR T IN IT A 749/2014 IN THE CASE OF CHEM IN VEST LTD. VS. CIT VIDE ORDER DT. 2.9.2015 AND THE DECISION OF THE HON BLE DELHI HIGH COURT IN THE CASE OF CIT VS. HOLCIM INDIA PVT. LTD. IN ITA 2 48 6 /2014 AND ITA 2 99/2014 VIDE ORDER DT. 5 TH SEPTEMBER, 2014. RESPECTFULLY FOLLOWING THE BINDING DECISIONS OF THE JURISDICTIONAL HIGH COURT, WE ALLOW THE GROUNDS OF APPEAL RAISED IN BOTH THE A.YS 2000 - 2001 AND 2004 - 05. 4. IN THE RESULT BOTH THE APPEALS OF THE ASSESSEE ARE ALLOWED IN PART. ORDE R PRONOUNCED IN THE OPEN COURT ON 04 TH DECEMBER ,2015. SD/ - SD/ - ( A.T.VARKEY ) (J.SUDHAKAR REDDY) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: THE 04 TH DECEMBER , 2015 *MANGA COPY OF THE ORDER FORWARDED TO: 1. APPELLANT; 2.RESPONDENT; 3.CIT; 4.CIT(A); 5.DR; 6.GUARD FILE BY ORDER ASST. REGISTRAR