BANK OF BARODA ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 2(1)(1), MUMBAI

ITA 1913/MUM/2025Status: DisposedITAT Mumbai14 October 2025AY 2015-16Bench: Smt. Beena Pillai (Judicial Member), Shri Omkareshwar Chidara ( (Accountant Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that based on a Special Bench decision in the case of Union Bank of India, the provisions of Section 115JB are not applicable to banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Therefore, MAT is not applicable to such banks.

What were the facts?

The appellant bank challenged the order of the CIT(A) which dismissed its appeal against an order giving effect to a PCIT's order under Section 263. The PCIT had directed the AO to re-assess the appellant for A.Y. 2015-16, including provisions of Section 115JB.

What were the issues?

Whether Section 115JB (Minimum Alternate Tax) is applicable to public sector banks constituted as 'corresponding new banks' under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.

Which sections of the Income-tax Act were involved?

Section 263,Section 115JB,Section 14A,Section 143(3),Section 194A,Section 36(1)(viii)

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Income Tax Appellate Tribunal, Mumbai “B” Bench, Mumbai.

Before: Smt. Beena Pillai (JM) & Shri Omkareshwar Chidara (AM)

For Appellant: Shri Leyaqat Ali Aafaqui
Pronounced: 16/10/2025

Per Omkareshwar Chidara (AM) :-

The following grounds of appeal were raised by the appellant bank against the order of Ld. CIT(A) for the A.Y. 2015-16:-

1.

On the facts and in the circumstances of the case and in law, the Id.CIT (A) erred in dismissing the appeal filed by appellant against the order giving effect to order of Id. PCIT u/s 263 in limine as not maintainable.

2.

On the facts and in the circumstances of the case and in law, the CIT (A) failed to take into consideration the order of Hon'ble ITAT against the order u/s 263 wherein the issue of applicability of the provisions of section 115JB to appellant was kep

The order continues below.

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