Ing Vysya Bank Ltd vs. ACIT, Bangalore
In the result, appeal by the Assessee is partly allowed while the 68
ITA 288/BANG/2013[2005-06]Status: DisposedITAT Bangalore06 Feb 2015AY 2005-06
Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2005-06 M/S. Ing Vysya Bank Ltd., Vs. The Assistant Commissioner Of Ing Vysya House, Income Tax, No.22, M.G. Road, Circle 11(4), Bangalore – 560 001. Bangalore. Pan: Aabct 0529M Appellant Respondent Assessment Year : 2005-06 The Deputy Commissioner Of Vs. M/S. Ing Vysya Bank Ltd., Income Tax, Bangalore – 560 001. Circle 11(4), Pan: Aabct 0529M Bangalore. Appellant Respondent Assessee By : Shri S. Ananthan, C.A. Revenue By : Shri C.H. Sundar Rao, Cit-I(Dr) Date Of Hearing : 20.01.2015 Date Of Pronouncement : 06.02.2015 O R D E R Per N.V. Vasudevan
For Appellant: Shri S. Ananthan, C.AFor Respondent: Shri C.H. Sundar Rao, CIT-I(DR)
Section 1Section 10Section 234D
…bunal. The learned DR relied on the order of the AO. The learned counsel for the Assessee relied on the order of the CIT(A). In support of assessee's contentions, following decisions were also relied upon:- (i) UCO Bank, 240 ITR 355 (ii) Karnataka Bank Ltd., 356 ITR 549 (iii) Southern Technologies Ltd., 310 ITR 577 (SC) ITA No.288 & 318/Bang/2013 Page 41 of 50 59. We have given a careful consideration to the rival submissions. Similar issue as to whether depreciation on investments held under the category “Held to Maturity” or “Available for Sale” can be allowed as deduction came up for consideration in the ca…
