Maini Materials Movement Pvt. Ltd. vs. The Dy. Commissioner of Income Tax

Parties Involved

Facts Summary

This is an appeal filed by the assessee against the order passed by the NFAC, Delhi dated 27/05/2024 in DIN No. ITBA/NFAC/S/250/2024-25/1065136558(1) for the assessment year 2017-18. The assessee, Maini Materials Movement Pvt. Ltd., has contested the disallowance of Rs. 18,57,840/- under section 14A r.w. Rule 8D of the Act, the disallowance of Rs. 23,032/- representing the club expenses, and the denial of set off of brought forward losses from assessment year 2016-17 of Rs.1,35,02,770/-.…

Legal Issues

• 1. Whether the disallowance of Rs. 18,57,840/- under section 14A r.w. Rule 8D of the Act is justified?
• 2. Whether the disallowance made by the AO for Rs. 23,032/- representing the club expenses is justified?
• 3. Whether the set off of the brought forward losses from assessment year 2016-17 of Rs.1,35,02,770/- was denied?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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