CIT v. Bank of Cochin Ltd.

94 ITR 93High Court#21656 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2026.

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Judgments citing CIT v. Bank of Cochin Ltd.

Asst CIT 2(2)(1), Mumbai vs. State Bank of India, Mumbai

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…d that securities held by banks constitute stock-in-trade and any loss arising on account of their valuation is allowable as business loss. This position also finds support in the decision of Hon’ble Kerala High Court in CIT v. Bank of Cochin Ltd. reported in 94 ITR 93 and Hon’ble Madras High Court in case of Indo-Commercial Bank Ltd. v. CIT,reported in 44 ITR 22, wherein it has been consistently held that investments held by banks are in the nature of stock-in-trade and any depreciation or loss arising therefrom is allowable as a deduction. 8.2. The Ld.AO however rejected the submissions of the assessee and hel…

State Bank of India, Mumbai vs. Asst CIT Cir 2(2), Mumbai

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…d that securities held by banks constitute stock-in-trade and any loss arising on account of their valuation is allowable as business loss. This position also finds support in the decision of Hon’ble Kerala High Court in CIT v. Bank of Cochin Ltd. reported in 94 ITR 93 and Hon’ble Madras High Court in case of Indo-Commercial Bank Ltd. v. CIT,reported in 44 ITR 22, wherein it has been consistently held that investments held by banks are in the nature of stock-in-trade and any depreciation or loss arising therefrom is allowable as a deduction. 8.2. The Ld.AO however rejected the submissions of the assessee and hel…

Ge Capital Transportation Financial Sevices Ltd vs. DCIT, Circle-12(1)

Appeal is allowed

ITA 2190/DEL/2006[2001-2002]Status: DisposedITAT Delhi23 Sept 2015AY 2001-2002

Bench: Shri N. K. Saini & Smt Suchitra Kamblei.T.A .No.-2190/Del/2006 (Assessment Year-2001-02)

…in the value of securities. The Hon’ble High Court held that the securities held by the assessee really constitute stock-in-trade and their price will fluctuate just like the price of all other commodities which may be subject of trade. Bank of Cochin Vs. CIT 94 ITR 93 (Ker.) In this case the Kerala High Court held that these investments are made in accordance with the requirements of Banking Companies Act. These provisions in the Act were intended to legalise the sound banking practice, namely, that the bank may keep a reserve of cash and liquid assets to meet its demand liability. As per these provisions an amo…

DCIT, Circle-12(1) vs. G.E. Capital Transportation Financial Services Ltd

Appeal is allowed

ITA 2069/DEL/2006[2001-2002]Status: DisposedITAT Delhi23 Sept 2015AY 2001-2002

Bench: Shri N. K. Saini & Smt Suchitra Kamblei.T.A .No.-2190/Del/2006 (Assessment Year-2001-02)

…in the value of securities. The Hon’ble High Court held that the securities held by the assessee really constitute stock-in-trade and their price will fluctuate just like the price of all other commodities which may be subject of trade. Bank of Cochin Vs. CIT 94 ITR 93 (Ker.) In this case the Kerala High Court held that these investments are made in accordance with the requirements of Banking Companies Act. These provisions in the Act were intended to legalise the sound banking practice, namely, that the bank may keep a reserve of cash and liquid assets to meet its demand liability. As per these provisions an amo…

CIT v. Bank of Cochin Ltd. (94 ITR 93) — Cited in 4 Judgments | BharatTax