Catholic Syrian Bank Ltd. v. CIT

343 ITR 270Supreme Court of India2012#235 most cited

What is Catholic Syrian Bank Ltd. v. CIT authority for?

For a bad debt deduction under Section 36(1)(vii), the debt must be actually written off as irrecoverable in the assessee's accounts, distinct from merely making a provision for bad and doubtful debts. The assessee bears the onus to satisfy the conditions under both Section 36(1)(vii) and Section 36(2) of the Income-tax Act.

326

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2012 to 2026.

Also referred to as

Catholic Syrian Bank Ltd. v. CIT · Section 36(1)(vii) · Section 36(1)(viia) · bad debt deduction · actual write-off · provision for bad and doubtful debts · irrecoverable debt · Section 36(2) · banking companies · TRF Ltd distinguished · Southern Technologies Ltd followed

Also reported as

206 Taxmann 1823 SCC 784

Sections most often in play

Section 36(1)(vii)Section 36(1)(viia)Section 14ASection 143(3)Section 37(1)Section 36(1)(viii)Section 115JBSection 250
Read the full judgment

Issues it is cited on

section 36(2)(v)section 41(4)section 36(1)(viia)section 36(2)section 36(1)(v)section 36(1)(viii)section 46section 36(1)(vii)section 35dsection 10(34)eligible businessinterest on securities

Judgments citing Catholic Syrian Bank Ltd. v. CIT

ACIT, Chandrapur Circle, Chandrapur vs. Chandrapur Distt. Central Co-Op Bank Ltd, Chandrapur

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 399/NAG/2019[2015-16]Status: DisposedITAT Nagpur21 Aug 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Kailash C. Kanojiya
Section 143(3)Section 271(1)(c)Section 274Section 36(1)(viia)

…ate rural advances of the bank. The aforesaid claim was allowable to the assessee as per the ratio laid down by the Hon ble Supreme court in the aforesaid referred to cases of Southern Technologies Ltd. Vs JCIT 320 ITR 577 and Catholic Syrian Bank Ltd. Vs CIT 343 ITR 270. The impugned order passed by the Id. CIT(A) is in consonance with the observations made by the ITAT F Bench, New Delhi having same combination in assessee s own case for the assessment year 2009-10 i.e. Prathma Bank Vs CIT (2016) 52 ITR (Trib.) 454 (Del.) (supra). We, therefore, considering the totality of the facts as discussed hereinabove, do…

Assistant Commissioner of Income Tax, Chandrapur Circle, Chandrapur vs. M/S Chandrapur District Central Co-Oprative Bank Limted, Chandrapur

In the result, appeal filed by the Revenue is allowed for statistical purposes

ITA 241/NAG/2018[2013-14]Status: DisposedITAT Nagpur21 Aug 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mahavir AtalFor Respondent: Shri Kailash C. Kanojiya
Section 143(3)Section 271(1)(c)Section 274Section 36(1)(viia)

…ate rural advances of the bank. The aforesaid claim was allowable to the assessee as per the ratio laid down by the Hon ble Supreme court in the aforesaid referred to cases of Southern Technologies Ltd. Vs JCIT 320 ITR 577 and Catholic Syrian Bank Ltd. Vs CIT 343 ITR 270. The impugned order passed by the Id. CIT(A) is in consonance with the observations made by the ITAT F Bench, New Delhi having same combination in assessee s own case for the assessment year 2009-10 i.e. Prathma Bank Vs CIT (2016) 52 ITR (Trib.) 454 (Del.) (supra). We, therefore, considering the totality of the facts as discussed hereinabove, do…

Assistant Commissioner of Income Tax, Circle-1(1), Mangalore vs. The Karnataka Bank Limited, Mangalore

In the result, appeal of the revenue is partly allowed for statistical purposes

ITA 555/BANG/2024[2020-21]Status: DisposedITAT Bangalore31 Jul 2024AY 2020-21

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2020-21

For Appellant: Sri S. Ananthan & Smt. Lalitha RameswaranFor Respondent: Ms. Neera Malhotra, D.R
Section 115TSection 14ASection 250Section 36(1)(vii)

…ural branches are also required to be first debited to PBDD a/c and the excess amount alone can be allowed as deduction u/s 36(1)(vii) of the Act. According to revenue, the decision rendered by Hon’ble Supreme Court in the case of Catholic Syrian Bank (2012)( 343 ITR 270). In the above said case, the Hon’ble Supreme Court has expressed the view that the provisions of sec. 36(1)(vii) and 36(1)(viia) allow separate deduction and they are independent provisions. The Supreme Court further held that the clause (viia)(a) applies only to rural advances. So the bad debts relating to non-rural advances need not be deducte…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 464/HYD/2023[2010-11]Status: DisposedITAT Hyderabad29 Jul 2024AY 2010-11

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 463/HYD/2023[2014-15]Status: DisposedITAT Hyderabad29 Jul 2024AY 2014-15

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 462/HYD/2023[2013-14]Status: DisposedITAT Hyderabad29 Jul 2024AY 2013-14

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 461/HYD/2023[2012-13]Status: DisposedITAT Hyderabad29 Jul 2024AY 2012-13

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 460/HYD/2023[2011-12]Status: DisposedITAT Hyderabad29 Jul 2024AY 2011-12

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Co Operative Bank Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 241/HYD/2018[2009-10]Status: DisposedITAT Hyderabad29 Jul 2024AY 2009-10

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

The Andhra Pradesh State Cooperative Bank Limited, Hyderabad vs. Asst.Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 1796/HYD/2017[2008-09]Status: DisposedITAT Hyderabad29 Jul 2024AY 2008-09

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA Nos.1796/Hyd/2017,241/Hyd/2018, 464/Hyd/2023 & 460 to 463/Hyd/2023) (निर्धारण वर्ा/Assessment Years(“A.Ys.”): 2008-09 to 2014-15 ) & (S.A. Nos.63,67,64 to 66/Hyd/2023 ) (निर्धारण वर्ा/A.Ys: 2008-09, 2010-11, 2011-12, 2012-13 & 2014-15 ) The Andhra Pradesh State Co- Asst. Commissioner of Income Tax, Vs. Circle 4(1), Hyderabad. operative Bank Limited, Hyderabad. PAN: AAAAT2971J (Appellant) (Respondent) निर्धारर…

Diadora Shoes Pvt Ltd, Calicut vs. ACIT Circle 2(1), Calicut

In the result, the assessee’s appeal is allowed

ITA 92/COCH/2023[2014-15]Status: DisposedITAT Cochin19 Apr 2024AY 2014-15

Bench: Shri Sanjay Arora, Am & Shri Anil Kumar Dugar, Jm

For Appellant: --- None ---For Respondent: Smt.J.M.Jamuna Devi, Sr.DR
Section 250Section 32(1)(iia)

…atter; the amended provision thereby clearly indicating of it being explanatory or declaratory of what the law always was. The sole premise of interpretation is to decipher the legislative intent consistent with it’s object [Catholic Syrian Bank v. CIT [2012] 343 ITR 270 (SC)(also see: CIT v. Baby Marine Exports [2007] 290 ITR 323 (SC); CIT v. Mahindra & Mahindra Ltd. [1983] 144 ITR 225 (SC)). The legislative intent per s. 32(1)(iia) is to provide additional depreciation (of 20%) qua the eligible plant and machinery, with a view to provide a fillip to the industry, where put to use for the purpose. The condition…

Sri.Parayarukandy Vettath Gangadharan, Calicut vs. The DCIT Circle-1(1), Calicut

In the result, the instant appeal by the assessee is dismissed

ITA 157/COCH/2023[2007-08]Status: DisposedITAT Cochin12 Apr 2024AY 2007-08

Bench: Shri Sanjay Arora & Shri Manomohan Dasparayarukandy Vettath Gangadharan Dy. Cit, Circle - 1(1) Kerala Transport Company (Decd., Calicut Vs. Represented By Lrs.) K.T.C. Building, Ymca Calicut 673001 [Pan: Adhpg8318B] (Appellant) (Respondent)

For Appellant: Shri Suresh Kumar C., CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 147Section 148Section 149Section 150(1)Section 153Section 2(22)(e)Section 268A

…is to give effect to the legislative intent; the statute being an edict of the Legislature [Britannia Industries Ltd. v. CIT [2005] 278 ITR 546 (SC); CIT vs. Baby Marine Exports [2007] 290 ITR 323 (SC)]. As explained in Catholic Syrian Bank Ltd. v. CIT [2012] 343 ITR 270 (SC), the court shall give an interpretation which shall serve the legislative object and intention, rather than subvert it. In Prakash Nath Khanna v. CIT [2004] 266 ITR 1 (SC), the Hon’ble Court reminded that statutes should not be construed as theorems of Euclid, but by construing the words with some imagination of the purposes which lie behind…

Karur Vysya Bank Ltd., Karur vs. DCIT Circle 2(1), Trichy

ITA 678/CHNY/2019[2015-16]Status: DisposedITAT Chennai09 Apr 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…cer, however disallowed the bad debts write off pertaining to rural branches, as per provisions of section 36(1)(vii) of the Act and Explanation (2), and following the decision of the Hon'ble Supreme Court in the case of Catholic Syrian Bank Ltd vs CIT [2012] 343 ITR 270 (SC). Before the CIT(A) the AO moved an enhancement petition contending that bad debts written off should be adjusted against the provision for bad & doubtful debts account made under section 36(1)(viia) without any distinction between rural and other advances and only excess over the credit balance in the account can be claimed as deduction u/s…

Karur Vysya Bank Ltd., Karur vs. DCIT Circle 2(1), Trichy

ITA 677/CHNY/2019[2014-15]Status: DisposedITAT Chennai09 Apr 2024AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…cer, however disallowed the bad debts write off pertaining to rural branches, as per provisions of section 36(1)(vii) of the Act and Explanation (2), and following the decision of the Hon'ble Supreme Court in the case of Catholic Syrian Bank Ltd vs CIT [2012] 343 ITR 270 (SC). Before the CIT(A) the AO moved an enhancement petition contending that bad debts written off should be adjusted against the provision for bad & doubtful debts account made under section 36(1)(viia) without any distinction between rural and other advances and only excess over the credit balance in the account can be claimed as deduction u/s…

DCIT Circle 2(1), Trichy vs. The Karur Vysya Bank Ltd., Karur

ITA 1343/CHNY/2019[2014-15]Status: DisposedITAT Chennai09 Apr 2024AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…cer, however disallowed the bad debts write off pertaining to rural branches, as per provisions of section 36(1)(vii) of the Act and Explanation (2), and following the decision of the Hon'ble Supreme Court in the case of Catholic Syrian Bank Ltd vs CIT [2012] 343 ITR 270 (SC). Before the CIT(A) the AO moved an enhancement petition contending that bad debts written off should be adjusted against the provision for bad & doubtful debts account made under section 36(1)(viia) without any distinction between rural and other advances and only excess over the credit balance in the account can be claimed as deduction u/s…

DCIT Circle 2(1), Trichy vs. The Karur Vysya Bank Ltd., Karur

ITA 1321/CHNY/2019[2015-16]Status: DisposedITAT Chennai09 Apr 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकरअपीलसं./Ita Nos.: 677 & 678/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 M/S. Karur Vysya Bank Ltd, Deputy Commissioner Of Central Office, V. Income Tax, Erode Road, Circle -2(1), Karur – 639 002. Trichy. [Pan: Aaact-3373-J] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकरअपीलसं./Ita Nos.: 1343 & 1321/Chny/2019 िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16 Deputy Commissioner Of M/S. Karur Vysya Bank Ltd, Income Tax, V. Central Office, Circle -2(1), Erode Road, Trichy. Karur – 639 002. [Pan: Aaact-3373-J (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. Anandhan, Ca & Smt. Lalitha, Ca Revenue By : Shri. Nilay Baran Som, Cit सुनवाई क" तारीख/Date Of Hearing : 13.03.2024 घोषणा क" तारीख/Date Of Pronouncement : 09.04.2024 आदेश /O R D E R

For Appellant: Shri. Anandhan, CA and Smt. Lalitha, CAFor Respondent: Shri. Nilay Baran Som, CIT
Section 36(1)(viii)Section 41(1)Section 43B

…cer, however disallowed the bad debts write off pertaining to rural branches, as per provisions of section 36(1)(vii) of the Act and Explanation (2), and following the decision of the Hon'ble Supreme Court in the case of Catholic Syrian Bank Ltd vs CIT [2012] 343 ITR 270 (SC). Before the CIT(A) the AO moved an enhancement petition contending that bad debts written off should be adjusted against the provision for bad & doubtful debts account made under section 36(1)(viia) without any distinction between rural and other advances and only excess over the credit balance in the account can be claimed as deduction u/s…

Diadora Shoes Pvt Ltd, Calicut vs. ACIT Circle 2(1), Calicut

In the result, the assessee’sappeal is allowed

ITA 213/COCH/2023[2015-16]Status: DisposedITAT Cochin28 Mar 2024AY 2015-16

Bench: Shri Sanjay Arora & Shri Manomohan Dasdiadora Shoes Pvt. Ltd. Asst. Cit, Circle - 2 Vkc Tower, Kolathra P.O Calicut 673001 Vs. Calicut 673655 [Pan:Aabcd9692D] (Appellant) (Respondent)

For Appellant: Shri M.V. Venugopal, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 32(1)(ii)

…atter; the amended provision thereby clearly indicating of it being explanatory or declaratory of what the law always was. The sole premise of interpretation is to decipher the legislative intent consistent with it’s object [Catholic Syrian Bank v. CIT [2012] 343 ITR 270 (SC)(also see: CIT v. Baby Marine Exports [2007] 290 ITR 323 (SC); CIT v. Mahindra & Mahindra Ltd. [1983] 144 ITR 225 (SC)). The legislative intent per s. 32(1)(iia) is to provide additional depreciation (of 20%) qua the eligible plant and machinery, with a view to provide a fillip to the industry, where put to use for the purpose. The condition…

ACIT Corporate Circle -1 (1), Kochi vs. M/S Geofin Comtrade Ltd, Kochi

In the result, the Revenue’s appeals are allowed

ITA 968/COCH/2022[2014-15]Status: DisposedITAT Cochin13 Mar 2024AY 2014-15

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

For Appellant: Ms. Rohini Thampi, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 36(1)(vii)

…d, consequently, there is no merit in the contention that, if the assessee succeeds, then it would result in escapement of income from assessment.” (pg. 173) Reference here may profitably also be made to the decision in Catholic Syrian Bank Ltd. v. CIT [2012] 343 ITR 270 (SC), wherein the Hon'ble Apex Court clarified that sections 36(1)(vii) and 36(1)(viia) operate in different fields; that section 36(1)(vii), vide Explanation thereto, introduced by Finance Act, 2001, specifically excludes any provision for bad and doubtful debts from the ambit and scope of any debt or part thereof written off as irrecoverable in…

ACIT, Kochi vs. M/S.Geofin Comtrade Ltd, Kochi

In the result, the Revenue’s appeals are allowed

ITA 967/COCH/2022[2013-14]Status: DisposedITAT Cochin13 Mar 2024AY 2013-14

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

For Appellant: Ms. Rohini Thampi, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 143(3)Section 36(1)(vii)

…d, consequently, there is no merit in the contention that, if the assessee succeeds, then it would result in escapement of income from assessment.” (pg. 173) Reference here may profitably also be made to the decision in Catholic Syrian Bank Ltd. v. CIT [2012] 343 ITR 270 (SC), wherein the Hon'ble Apex Court clarified that sections 36(1)(vii) and 36(1)(viia) operate in different fields; that section 36(1)(vii), vide Explanation thereto, introduced by Finance Act, 2001, specifically excludes any provision for bad and doubtful debts from the ambit and scope of any debt or part thereof written off as irrecoverable in…

M/S. City Union Bank, Kumbakonam vs. DCIT, Circle - 2 (1), Trichy

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 672/CHNY/2020[2017-18]Status: DisposedITAT Chennai11 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…ction 36(1)(viia) r.w.s. 36(2)(v) of the Act. The Tribunal had also discussed the issue in light of explanation (2) inserted by Finance Act, 2013 w.e.f. 01.04.2014 in light of decision of Hon’ble Supreme Court in the case of Catholic Syrian Bank vs CIT [2012] 343 ITR 270, and held that for the purpose of deduction towards write off of non-rural debts u/s. 36(1)(vii) of the Act, there is no need to adjust credit in the account of provision for bad and doubtful debts created in terms of section 36(1)(viia) of the Act. The Ld. Counsel for the :-32-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 as…