{"id":702,"date":"2009-05-08T07:47:04","date_gmt":"2009-05-08T07:47:04","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=702"},"modified":"2009-05-08T07:47:04","modified_gmt":"2009-05-08T07:47:04","slug":"dcit-vs-citizen-hotels-itat-mumbai","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/dcit-vs-citizen-hotels-itat-mumbai\/","title":{"rendered":"DCIT vs. Citizen Hotels (ITAT Mumbai)"},"content":{"rendered":"<table width=\"150\" border=\"0\" align=\"right\">\n<tr>\n<td><a href=\"https:\/\/itatonline.org\/archives\/?dl_id=32\" onclick=\"if (event.button==0) \r\n     setTimeout(function () { window.location = 'http:\/\/itatonline.org\/downloads.php?varname=dl_id=32&varname2=citizen_hotel_daga_capital_14A.pdf'; }, 100)\" ><strong>Click here to download the judgement (citizen_hotel_daga_capital_14A.pdf) <\/strong> <\/a><\/p><\/td>\n<\/tr>\n<\/table>\n<p><strong> S. 14A &#038; Daga Capital cannot put assessee in worse position<\/strong><\/p>\n<p>The assessee earned dividend income of Rs. 7.57 lakhs but the AO disallowed Rs. 20.73 lakhs u\/s 14A as being relatable to the said income. The CIT (A) gave part relief.  In deciding cross appeals, HELD<\/p>\n<p>As the assessee had earned tax-free dividend income, s.14A was applicable. The question of determination of the disallowable amount has to be worked out by the AO as per <a href=\"http:\/\/www.itatonline.org\/info\/?p=29\">Rule 8D <\/a>as held the Special Bench judgement in <strong><a href=\"http:\/\/itatonline.org\/archives\/index.php\/ito-vs-daga-capital-itat-mumbai-special-bench-17mb\">ITO Vs. Daga Capital Management Pvt. Ltd<\/a><\/strong>. (2008) 119 TTJ (Mum) (SB) 289. However, <strong>the disallowance u\/s 14A in the fresh proceedings cannot exceed the original amount disallowed by the AO in the assessment order<\/strong>.<\/p>\n<p>See Also: <strong><a href=\"http:\/\/itatonline.org\/archives\/index.php\/acit-vs-indexport-ltd-itat-mumbai\">ACIT vs. Indexport Ltd <\/a><\/strong>(ITAT Mumbai) where the same view has been taken after considering <strong>Assam Travels <\/strong>199 ITR 1 (SC).<\/p>\n<p>See Also: <a href=\"http:\/\/www.itatonline.org\/articles_new\/?p=13\"><strong>New Rule 8D \u2013 A lesson in tight rope walking?<\/strong><\/a> by CA Anant N. Pai<\/p>\n<p><!--\n\n\n\n\n\n\/\/--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the assessee had earned tax-free dividend income, s.14A was applicable. The question of determination of the disallowable amount has to be worked out by the AO as per <a href=\"http:\/\/www.itatonline.org\/info\/?p=29\">Rule 8D <\/a>as held the Special Bench judgement in <strong><a href=\"http:\/\/itatonline.org\/archives\/index.php\/ito-vs-daga-capital-itat-mumbai-special-bench-17mb\">ITO Vs. Daga Capital Management Pvt. Ltd<\/a><\/strong>. (2008) 119 TTJ (Mum) (SB) 289. However, <strong>the disallowance u\/s 14A in the fresh proceedings cannot exceed the original amount disallowed by the AO in the assessment order<\/strong>.<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/dcit-vs-citizen-hotels-itat-mumbai\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,8],"tags":[],"class_list":["post-702","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-tribunal"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=702"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/702\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}