CIT v. Bank of Tokyo Ltd.

71 Taxmann 85High Court1993#3937 most cited

What is CIT v. Bank of Tokyo Ltd. authority for?

The refund of guarantee commission for the unexpired period of a guarantee contract, where the contract is revoked prematurely, is a valid deduction for the assessee-bank.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Bank of Tokyo Ltd. · 71 Taxmann 85 · refund of guarantee commission · premature revocation of guarantee · unexpired period · deduction for banks · income tax act

Sections most often in play

Section 14ASection 36(1)(vii)Section 44CSection 10(10C)Section 10(15)(iv)Section 10(34)Section 115JBSection 35DDA

Issues it is cited on

section 10(10c)section 44csection 35ddasection 35ddapproved gratuity fundsection 10(15)right to receivesection 35dsection 10(34)retrospective amendmentperiod of holdingsection 36(1)(iv)

Judgments citing CIT v. Bank of Tokyo Ltd.

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

In the result, appeal of the revenue is dismissed

ITA 4736/MUM/2010[1999-2000]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-2000

Bench: Shri G.S. Pannu & Shri Pawan Singhstate Bank Of India Acit Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent) Acit Circle (2)(2), State Bank Of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent)

For Respondent: Shri R.P. Meena (CIT-DR)
Section 14ASection 195Section 253Section 254(1)Section 36(1)(viia)Section 40Section 43D

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “A”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER State Bank of India ACIT Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) ACIT Circle (2)(2), State Bank of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) Assessee by Shri Girish Dave & Urvi : Mehta (AR) Revenue by…

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

In the result, appeal of the revenue is dismissed

ITA 4598/MUM/2010[1999-00]Status: DisposedITAT Mumbai31 Jan 2018AY 1999-00

Bench: Shri G.S. Pannu & Shri Pawan Singhstate Bank Of India Acit Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent) Acit Circle (2)(2), State Bank Of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19Th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. Pan: Aaacs8577K (Appellant) (Respondent)

For Respondent: Shri R.P. Meena (CIT-DR)
Section 14ASection 195Section 253Section 254(1)Section 36(1)(viia)Section 40Section 43D

…IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “A”, MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER State Bank of India ACIT Circle (2)(2), Financial Reporting, Compliance & Mumbai. Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) ACIT Circle (2)(2), State Bank of India Mumbai. Financial Reporting, Compliance & Taxation Department, 19th Floor, Vs. Corporate Centre, Madam Cama Road, Mumbai-400021. PAN: AAACS8577K (Appellant) (Respondent) Assessee by Shri Girish Dave & Urvi : Mehta (AR) Revenue by…

Canara Bank, Bangalore vs. JCIT, Bangalore

In the result, the appeal for the Assessment Years 2006-07 and 2007-08 are allowed and Appeal for the A

ITA 1017/BANG/2015[2006-07]Status: DisposedITAT Bangalore24 Oct 2017AY 2006-07

Bench: Shri Vijay Pal Rao & Shri G. Manjunath

For Appellant: Shri S. Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT (DR) (ITAT)-1, Bengaluru
Section 147Section 148Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ A ’ BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATH, ACCOUNTANT MEMBER I.T. A. No.1017 to 1019/Bang/2015 (Assessment Years : 2006-07 to 2008-09) M/s. Canara Bank, Head Office, 112, J.C. Road, Bangalore-560 002. …. Appellant. Vs. Jt. Commissioner of Income Tax, LTU, Bangalore. ….. Respondent. Appellant By : Shri S. Ananthan, CA Respondent By : Shri G.R. Reddy, CIT (DR) (ITAT)-1, Bengaluru. Date of Hearing : 21.08.2017. Date of Pronouncement : 24.10.2017. O R D E R Per Bench : These three appeals by the assessee are directed against…

Canara Bank, Bangalore vs. JCIT, Bangalore

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

ITA 931/BANG/2016[2011-12]Status: DisposedITAT Bangalore15 Sept 2017AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT(DR)
Section 143(3)Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.1493/Bang/2014 (Assessment year: 2010-11) and M/s. Canara Bank, BSCA Section, Head Office, 112, JC Road, Bengaluru-560002. … Appellant PAN:AAACC 6106 G Vs. Joint Commissioner of Income-tax, LTU, Bengaluru. … Respondent AND ITA No.1440/Bang/2014 (Assessment year: 2010-11) and Joint Commissioner of Income-tax, LTU, Bengaluru. … Appellant Vs. M/s.Canara Bank, Bengaluru. … Respondent Assessee by : Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CA. Revenue…

Canara Bank, Bangalore vs. JCIT, Bangalore

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

ITA 1493/BANG/2014[2010-11]Status: DisposedITAT Bangalore15 Sept 2017AY 2010-11

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT(DR)
Section 143(3)Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.1493/Bang/2014 (Assessment year: 2010-11) and M/s. Canara Bank, BSCA Section, Head Office, 112, JC Road, Bengaluru-560002. … Appellant PAN:AAACC 6106 G Vs. Joint Commissioner of Income-tax, LTU, Bengaluru. … Respondent AND ITA No.1440/Bang/2014 (Assessment year: 2010-11) and Joint Commissioner of Income-tax, LTU, Bengaluru. … Appellant Vs. M/s.Canara Bank, Bengaluru. … Respondent Assessee by : Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CA. Revenue…

Joint Commissioner of Income Tax, Bangalore vs. M/S Canara Bank, Bangalore

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

ITA 1440/BANG/2014[2010-11]Status: DisposedITAT Bangalore15 Sept 2017AY 2010-11

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT(DR)
Section 143(3)Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.1493/Bang/2014 (Assessment year: 2010-11) and M/s. Canara Bank, BSCA Section, Head Office, 112, JC Road, Bengaluru-560002. … Appellant PAN:AAACC 6106 G Vs. Joint Commissioner of Income-tax, LTU, Bengaluru. … Respondent AND ITA No.1440/Bang/2014 (Assessment year: 2010-11) and Joint Commissioner of Income-tax, LTU, Bengaluru. … Appellant Vs. M/s.Canara Bank, Bengaluru. … Respondent Assessee by : Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CA. Revenue…

Canara Bank vs. Addl.C.I, .T

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

ITA 979/BANG/2013[2009-10]Status: DisposedITAT Bangalore15 Sept 2017AY 2009-10

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT(DR)
Section 143(3)Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.1493/Bang/2014 (Assessment year: 2010-11) and M/s. Canara Bank, BSCA Section, Head Office, 112, JC Road, Bengaluru-560002. … Appellant PAN:AAACC 6106 G Vs. Joint Commissioner of Income-tax, LTU, Bengaluru. … Respondent AND ITA No.1440/Bang/2014 (Assessment year: 2010-11) and Joint Commissioner of Income-tax, LTU, Bengaluru. … Appellant Vs. M/s.Canara Bank, Bengaluru. … Respondent Assessee by : Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CA. Revenue…

J.C.I.T vs. M/S Canara Bank

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

ITA 1035/BANG/2013[2009-10]Status: DisposedITAT Bangalore15 Sept 2017AY 2009-10

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CAFor Respondent: Shri G.R. Reddy, CIT(DR)
Section 143(3)Section 36(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BENGALURU BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER and SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA No.1493/Bang/2014 (Assessment year: 2010-11) and M/s. Canara Bank, BSCA Section, Head Office, 112, JC Road, Bengaluru-560002. … Appellant PAN:AAACC 6106 G Vs. Joint Commissioner of Income-tax, LTU, Bengaluru. … Respondent AND ITA No.1440/Bang/2014 (Assessment year: 2010-11) and Joint Commissioner of Income-tax, LTU, Bengaluru. … Appellant Vs. M/s.Canara Bank, Bengaluru. … Respondent Assessee by : Shri G.Sarangan, Senior Advocate and Shri S.Ananthan, CA. Revenue…

Pr. CIT vs. The Bank of Tokyo Misubishi Ufj Ltd

ITA/604/2015HC Delhi08 Apr 2016

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Section 1Section 9(1)(v)

…11 * IN THE HIGH COURT OF DELHI AT NEW DELHI 2-3 + ITA 604/2015 PR. CIT .....Appellant Through: Mr. Dileep Shivpuri, Senior Standing counsel with Mr. Sanjay Kumar,Junior Standing counsel. versus THE BANK OF TOKYO MISUBISHI UFJ LTD.....Respondent Through: Mr. Percy Pardiwala, Senior Advocate with Mr. Nageswar Rao, Mr. Parth, Advocates. And ITA 605/2015 PR. CIT-i Appellant Through: Mr. Dileep Shivpuri, Senior Standing counsel with Mr. Sanjay Kumar,Junior Standing counsel. versus THE BANK OF TOKYO MISUBISHI UFJ LTD.....Respondent Through: Mr. Percy Pardiwala, Senior Advocate with Mr. Nageswa…

The ADIT (I.T)3(1) vs. M/S. Honkong & Shanghani Banking Corpn. Ltd

In the result, ITA Nos.2519 and 2520/Mum/2004 by revenue stand dismissed, ITA No

ITA 2519/MUM/2004[1999-2000]Status: DisposedITAT Mumbai20 Nov 2015AY 1999-2000

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आयकर अपील सं./I.T.A. No.2519 & 2520/Mum/2004 ("नधा"रण वष" / Assessment Year:1999-2000 & 2000-01) M/S Hongkong & Shanghani Asstt.Direrctor Of Income Tax बनाम/ Banking Corporation Ltd., (International Taxation)-3(1), Vs. 52/60, M G Road, 136, Scindia House, Mumbai-400001 N M Marg, Ballard Estate, Mumbai-400038 .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

Section 143(3)

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ “एल” मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL “L” BENCH, MUMBAI BEFORE S/SHRI B.R.BASKARAN, AM AND PAWAN SINGH, JM आयकर अपील सं./I.T.A. No.2519 and 2520/Mum/2004 ("नधा"रण वष" / Assessment Year:1999-2000 and 2000-01) M/s Hongkong and Shanghani Asstt.Direrctor of Income Tax बनाम/ Banking Corporation Ltd., (International Taxation)-3(1), Vs. 52/60, M G Road, 136, Scindia House, Mumbai-400001 N M Marg, Ballard Estate, Mumbai-400038 .. (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./I.T.A. No.2679 and 2680/Mum/2004 ("नधा"रण वष" / Assessment Year:1999-2000 and 2000-01) M/s H…