DCIT CIRCLE 2(1), TRICHY vs. THE KARUR VYSYA BANK LTD., KARUR

ITA 1321/CHNY/2019Status: DisposedITAT Chennai09 April 2024AY 2015-16Bench: SHRI V. DURGA RAO, HON’BLE (Judicial Member), SHRI MANJUNATHA. G, HON’BLE (Accountant Member)98 pages
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What did the Tribunal hold?

The Tribunal held that provision for leave encashment is an ascertained liability and cannot be added back to book profit. It also ruled that the census data of 2001 should be considered for classifying rural branches for deduction under Section 36(1)(viia), as the 2011 data was not available before the start of the previous year.

What were the facts?

The assessee, a private sector bank, filed appeals against the CIT(A)'s order concerning assessment years 2014-15 and 2015-16. The appeals involved several additions made by the Assessing Officer and enhancements proposed by the CIT(A).

What were the issues?

Whether provision for leave encashment is an allowable deduction and whether the correct census data should be used for classifying rural branches for tax deductions.

Which sections of the Income-tax Act were involved?

Section 43B(f),Section 36(1)(viii),Section 115JB,Section 36(1)(viia)

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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: SHRI V. DURGA RAO, HON’BLE & SHRI MANJUNATHA. G, HON’BLE

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CA
Hearing: 13.03.2024Pronounced: 09.04.2024

PER MANJUNATHA. G, ACCOUNTANT MEMBER:

These four cross appeals filed by the assessee, and revenue are directed against the order passed by the learned

:-2-: ITA. Nos:

The order continues below.

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