46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd.

Q: How many judgments cite 46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd.?

12 judgments on BharatTax cite 46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd. (395 ITR 324), spanning 2019 to 2021.

395 ITR 324High Court2017#9046 most cited

What is 46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd. authority for?

Interest on non-performing assets (NPAs) is taxable in the year of receipt. Taxability does not depend on accrual or certainty of recovery.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,315 Indian tax judgments — from 2019 to 2021.

Also referred to as

Shri Mahila Sewa Sahakari Bank Ltd · taxability of interest on NPA · interest on non-performing assets · year of receipt · Gujarat High Court · Supreme Court dismissal

Also reported as

242 Taxmann 60

Judgments citing 46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd.

The Panipat Urban Co-Operative Bank Ltd., New Delhi vs. ACIT, Circle, Panipat

In the result, appeal of the assessee is partly allowed

ITA 5040/DEL/2018[2014-15]Status: DisposedITAT Delhi23 Nov 2021AY 2014-15

Bench: Sh. Anil Chaturvedi & Sh. Sudhanshu Srivastava(Through Video Conferencing) The Panipat Urban Co- Vs. Acit Operative Bank Ltd., Circle G. T. Road, Panipat, Panipat Haryana – 110 025 Pan No. Aaalt 0141 K (Appellant) (Respondent) Assessee By Ms. Sonal, C.A. Revenue By Shri Anil Kumar Sharma, Sr. D.R.

Section 143(3)Section 36(1)(viii)Section 43D

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCING) The Panipat Urban Co- Vs. ACIT operative Bank Ltd., Circle G. T. Road, Panipat, Panipat Haryana – 110 025 PAN No. AAALT 0141 K (APPELLANT) (RESPONDENT) Assessee by Ms. Sonal, C.A. Revenue by Shri Anil Kumar Sharma, Sr. D.R. Date of hearing: 11.11.2021 Date of Pronouncement: 23.11.2021 ORDER PER ANIL CHATURVEDI, AM: This appeal filed by the assessee is directed against the order dated 18.05.2018 of the Commissioner of Income Tax…

Deputy Commissioner of Income-Tax, Circle - 12, Pune vs. Western Maharashtra Development Corporation Ltd, Pune

In the result, the appeal filed by the Revenue is dismissed

ITA 899/PUN/2018[2013-14]Status: DisposedITAT Pune26 Oct 2021AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri S. S. Viswanethra Ravi, Jm आयकर अपीऱ सं. / Ita No.899/Pun/2018 नििाारण वषा / Assessment Year : 2013-14 Dcit, Circle-12(2), .......अपीलाथी / Appellant Pune. बनाम / V/S. Western Maharashtra Development Corporation Limited, Kubera Chambers, 2Nd Floor, Dr. Rajendra Prasad Road, Shivajinagar, Pune-411005. ……प्रत्यथी / Respondent Pan : Aaacw1864B Revenue By : Shri S.P. Walimbe Assessee By : Shri Kishor Phadke

For Appellant: Shri Kishor PhadkeFor Respondent: Shri S.P. Walimbe

Section 143(3)Section 145(1)

…आयकर अपीऱीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE (Through Virtual Court) BEFORE SHRI INTURI RAMA RAO, AM AND SHRI S. S. VISWANETHRA RAVI, JM आयकर अपीऱ सं. / ITA No.899/PUN/2018 नििाारण वषा / Assessment Year : 2013-14 DCIT, Circle-12(2), .......अपीलाथी / Appellant Pune. बनाम / V/s. Western Maharashtra Development Corporation Limited, Kubera Chambers, 2nd Floor, Dr. Rajendra Prasad Road, Shivajinagar, Pune-411005. ……प्रत्यथी / Respondent PAN : AAACW1864B Revenue by : Shri S.P. Walimbe Assessee by : Shri Kishor Phadke सुनवाई की तारीख / Date of Hearing : 26.10.2021 घोष…

Assistant Commissioner of Income-Tax, Circle - 2, Solapur vs. Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur

In the result, the appeal of Revenue in ITA No

ITA 908/PUN/2018[2010-11]Status: DisposedITAT Pune26 Jul 2021AY 2010-11

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: N O N EFor Respondent: Shri Mahadevan A.M. Krishnan

Section 143(3)

…n‟ble High Court of Punjab and Haryana in the case of Ludhina Central Co-operative Bank Ltd. reported in (2018) 99 taxmann.com 81. The Hon‟ble High Court of Punjab and Haryana in turn referred the case of Shri Mahila Sewa Sahakari Bank Ltd. reported in (2017) 395 ITR 324 of Hon‟ble High Court of Gujarat and noted the appeal arising out of Hon‟ble High Court of Gujarat was dismissed by the Hon‟ble Supreme Court which held the taxability of interest on NPA is chargeable to tax in the year of receipt. In the present case, the AO proceeded to hold that the interest accrued on NPA chargeable to tax, but it is taxable…

Assistant Commissioner of Income-Tax, Circle - 2, Solapur vs. Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur

In the result, the appeal of Revenue in ITA No

ITA 907/PUN/2018[2009-10]Status: DisposedITAT Pune26 Jul 2021AY 2009-10

Bench: Shri Inturi Rama Rao & Shri S.S. Viswanethra Ravi

For Appellant: N O N EFor Respondent: Shri Mahadevan A.M. Krishnan

Section 143(3)

The Sindhudurg Dist Central Co.Op Bank Ltd, Sindhudurg vs. Assistant Commissioner of Income-Tax, Circle - 2, Kolhapur

In the result, the appeal of assessee is allowed

ITA 378/PUN/2018[2013-14]Status: DisposedITAT Pune14 Jul 2021AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: NoneFor Respondent: Shri Vitthal Bhosale

Section 43D

…e case of PCIT vs. Solapur District Central Co-op. Bank Ltd., 428 ITR 306. The Hon’ble Bombay High Court relying on the decision in case of (i) CIT v. Shoorji Vallabahdas & Co. [1962] 46 ITR 144 (SC), (ii) Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd. [2017] 395 ITR 324/[2016] 242 Taxman 60/72 taxmann.com 117 (Guj.), (iii) Pr. CIT v. Sarangpur Co-operative Bank Ltd. [2018] 406 ITR 302/258 Taxman 230/97 taxmann.com 304 (Guj.) and (iv) Pr. CIT v. Ludhiana Central Co-operative Bank Ltd. [2018] 99 taxmann.com 81 (Punj. & Har.) on the issue of taxability of interest on the non-performing assets held as follows :-  T…

Assistant Commissioner of Income-Tax, Circle - 12, Pune vs. Western Maharashtra Development Corporation Limited, Pune

In the result, the appeal filed by the Revenue is dismissed

ITA 2250/PUN/2017[2012-13]Status: DisposedITAT Pune24 Jun 2021AY 2012-13

For Appellant: Shri Kishor PhadkeFor Respondent: Shri Sudhendu Das

Section 143(3)Section 145(1)

…आयकर अपीलीय अिधकरण “ए” "यायपीठ पुणे म" । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE (Through Virtual Court) BEFORE SHRI INTURI RAMA RAO, AM AND SHRI S. S. VISWANETHRA RAVI, JM आयकर अपील सं. / ITA No.2250/PUN/2017 िनधा"रण वष" / Assessment Year : 2012-13 ACIT, Circle-12, .......अपीलाथ" / Appellant Pune. बनाम / V/s. Western Maharashtra Development Corporation Limited, Kubera Chambers, 2nd Floor, Dr. Rajendra Prasad Road, Shivajinagar, Pune-411005. ……""यथ" / Respondent PAN : AAACW1864B Revenue by : Shri Sudhendu Das Assessee by : Shri Kishor Phadke सुनवाई क" तारीख / Date of Hearing : 15.06.2021 घोषणा क" तार…

The Kottayam Dist. Co-Op Bank Ltd, Kottayam vs. ACIT, Kottayam

In the result, the appeal of the assessee is dismissed

ITA 218/COCH/2018[2013-14]Status: DisposedITAT Cochin14 Nov 2019AY 2013-14

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

Section 143(3)Section 36(1)(vii)Section 41(4)Section 43D

…of not taking the taking the interest on mercantile basis, but on cash basis and this is a provision for interest on bad and doubtful debts. The assessee also relied on the decision of Hon'ble Gujarat High Court in the case of Shri Mahila Sahakari Bank Ltd, 395 ITR 324. 5.1 After considering the arguments of the assessee, the CIT(A) observed that it is evident that the assessee credited the interest on Bad and Doubtful debts to the 3 I.T.A. No. 218/Coch/2018 profit and loss account. However, the CIT(A) observed that the assessee was claiming deduction for the provision created against this interest income on…

Deputy Commissioner of Income Tax, Circle-1(1), Davangere vs. The Davangere Urban Co-Op Bank Ltd, Davangere

ITA 1817/BANG/2018[2013-14]Status: DisposedITAT Bangalore17 Jul 2019AY 2013-14

For Appellant: Shri R.N.Siddappaji, Addl.CIT(DR)For Respondent: None

…n is also in line with the judgment of the Hon’ble Bombay High Court in the case of CIT vs. Deogiri Nagari Sahakari Bank Ltd (379 ITR 241)(Bom) and the judgment of the Hon’ble Gujarat High Court in the case of Principal CIT vs. Mahila Seva Sarkari Bank Ltd.( (395 ITR 324)(Guj). In view of the decisions, we uphold the order of the ld.CIT(A) and dismiss the appeal of the revenue. Order pronounced in the open court on 17th July, 2019. (BEENA PILLAI) ACCOUNTANT MEMBER Place : Bengaluru Dated : 17/07/2019 srinivasulu, sps Copy to : 1 Appellant 2 Respondent 3 CIT(A)- 4 CIT 5 DR, ITAT, Bangalore. 6 Guard file By orde…

Assistant Commissioner of Income-Tax, Circle - 12, Pune vs. Bharati Sahakari Bank Ltd, Pune

In the result, the appeal of Revenue is dismissed

ITA 383/PUN/2018[2013-14]Status: DisposedITAT Pune02 Jul 2019AY 2013-14

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Mahaveer JainFor Respondent: Ms. Shabana Parveen

Section 143(3)Section 145Section 43DSection 45QSection 5Section 56

…hat prudential norms issued by Reserve Bank of India are applicable to Co-operative Banks and that interest on sticky advances are not taxable. We further find that Hon’ble Gujarat High Court in the case of PCIT Vs. Shri Mahila Seva Sahakari Bank Ltd., (2017) 395 ITR 324 (Guj) after considering the Reserve Bank of India guidelines, Reserve Bank of India Act, 1934, Sec.45Q of Non-Banking Companies Prudential Norms (Reserve Bank) Directions, 1998 & Sec.43D of I.T. Act has held as under : “The expression "banking company" has been defined under section 5(c) of the Banking Regulation Act, 1949 to mean any compan…

Deputy Commissioner of Income Tax vs. M/S . Pune Merchants Co-Operative Bank Ltd, Pune

In the result, the appeal of Revenue is dismissed

ITA 183/PUN/2017[2013-14]Status: DisposedITAT Pune28 Jun 2019AY 2013-14

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: (Written submissions filed)For Respondent: Shri Rajesh Gawali

Section 143(3)Section 41(1)Section 43D

…prudential norms issued by Reserve Bank of India are applicable to Co-operative Banks and that interest on sticky advances are not taxable. We further find that Hon’ble Gujarat High Court in the case of PCIT Vs. Shri Mahila Seva Sahakari Bank Ltd., (2017) 395 ITR 324 (Guj) after considering the Reserve Bank of India guidelines, Reserve Bank of India Act, 1934, Sec.45Q of Non-Banking Companies Prudential 7 Norms (Reserve Bank) Directions, 1998 & Sec.43D of I.T. Act has held as under : “The expression "banking company" has been defined under section 5(c) of the Banking Regulation Act, 1949 to mean any compa…

The Deputy Commissioner of Income Tax, Circle-1(3), Ahmedabad vs. The Kalupur Commercial Co. Op. Bank Ltd., Ahmedabad

In the result, the question is answered in favour of the assessee and against the Revenue and all Tax Appeals are dismissed

ITA 1864/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad18 Jun 2019AY 2014-15

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri N. R. Soni, CIT-D.RFor Respondent: Shri S. N. Soparkar & Parin Shah, A.R

Section 142(1)Section 143(3)

…n a similar view and granted the deduction on the principal of taxing real income. Our attention was drawn to the decision of Division Bench of this Court in case of Pr. CIT v. Shri Mahila Sewa Sahakari Bank Ltd. [2016] 72 taxmann.com 117/242 Taxman 60/[2017] 395 ITR 324 (Gujarat) in which the said issue came up for consideration. 8. In our opinion, entire issue is covered by the judgment of this Court in case of Shri Mahila Sewa Sahakari Bank Ltd. (supra). In the said case, the Court has considered following substantial question of law: "Whether on the facts and in the circumstances of the case, the Income Tax…

Deputy Commissioner of Income Tax, Pune vs. M/S. Pune Cantonment Sahakari Bank Ltd, Pune

In the result, both the appeals of Revenue are dismissed

ITA 435/PUN/2017[2007-08]Status: DisposedITAT Pune27 Mar 2019AY 2007-08

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Dhiraj DandgavelFor Respondent: Shri Abhijit Haldar

Section 145Section 148Section 154Section 36(1)(viia)Section 43D

…prudential norms issued by Reserve Bank of India are applicable to Co-operative Banks and that interest on sticky advances are not taxable. We further find that Hon’ble Gujarat High Court in the case of PCIT Vs. Shri Mahila Seva Sahakari Bank Ltd., (2017) 395 ITR 324 (Guj) after considering the Reserve Bank of India guidelines, Reserve Bank of India Act, 1934, Sec.45Q of Non-Banking Companies Prudential Norms (Reserve Bank) Directions, 1998 & Sec.43D of I.T. Act has held as under : “The expression "banking company" has been defined under section 5(c) of the Banking Regulation Act, 1949 to mean any company…