CIT v. Dhanalaxmi Bank Ltd.

373 ITR 526Supreme Court of India2015#2646 most cited

What is CIT v. Dhanalaxmi Bank Ltd. authority for?

Penalties paid for deviation in implementation of KYC-AML guidelines by a bank are not deductible as a business expense if they are penal in nature for violation of law.

44

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2018 to 2025.

Also referred to as

CIT v Dhanalaxmi Bank Ltd · 373 ITR 526 · SC · penalty u/s 46(4) Banking Regulation Act · KYC-AML guidelines · deduction · violation of law · business expense

Sections most often in play

Section 36(1)(vii)Section 10(34)Section 14ASection 36(1)(viia)Section 37(1)Section 46(4)Section 143(3)Section 36(1)(viii)

Issues it is cited on

section 36(1)(via)section 36(2)(v)section 41(4)section 36(1)(v)section 36(1)(viii)section 36(2)section 36(1)(viia)prohibited by lawsection 10(34)section 14a(2)interest on securitiesinfrastructure facility

Judgments citing CIT v. Dhanalaxmi Bank Ltd.

ITO, W-2, Khanna vs. Sh. Jaswinder Singh, Ludhiana

Appeal of the Revenue is dismissed due to low

ITA 1625/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh16 Jul 2018AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2013-14

For Appellant: Smt.Chanderkanta, Sr.DRFor Respondent: Sh. Tej Mohan Singh

…High Court in the case of “Principal CIT of Income Tax Vs. Surinder Kumar Singhal” ITA No 406- 2016 (O&M) vide order dated 30.1.2017 while further relying upon the decision of the Hon'ble Supreme Court in the case of “CIT Vs. Dhanalekshmi Bank Ltd.” (2015) 373 ITR 526 (SC), has dismissed the appeal of the Revenue without going into the merits due to low tax effect leaving the question of law open. In view of the CBDT Circular No. 03/2018 (supra) and in the light of the above referred to decision of the Hon'ble Jurisdictional Punjab & Haryana High Court (supra), the present appeal of the Revenue is dismissed…

DCIT, CC-II, Chandigarh vs. M/S Bharatnet Technology Ltd., Delhi

Appeal of the Revenue is dismissed due to low tax effect

ITA 1190/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh16 Jul 2018AY 2010-11

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2010-11

For Appellant: Smt.Chanderkanta, Sr.DRFor Respondent: Sh. Ashwani Kumar, CA
Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES, ‘A’ CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & Ms. ANNAPURNA GUPTA, ACCOUNTANT MEMBER Assessment Year: 2010-11 The DCIT, Vs. M/s Bharatnet Technology Ltd., Central Circle-II, F-334, Sarita Vihar, Chandigarh Delhi PAN No. AABCB6785GH (Appellant) (Respondent) Appellant By : Smt.Chanderkanta, Sr.DR Respondent By : Sh. Ashwani Kumar, CA Date of hearing : 16.07.2018 Date of Pronouncement : 16.07.2018 ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the Revenue against the order dated 18.05.2017 of the Commis…

ACIT, Sangrur vs. M/S Krishna Krishna Jewellers and Investment (P) Ltd., Sangrur

In the result, the appeal of the Revenue and cross objections of the assessee are dismissed

ITA 698/CHANDI/2016[2008-09]Status: DisposedITAT Chandigarh16 Jul 2018AY 2008-09

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2008-09

For Appellant: Smt.Chanderkanta, Sr.DRFor Respondent: Sh. N.K.Garg, Advocate

…High Court in the case of “Principal CIT of Income Tax Vs. Surinder Kumar Singhal” ITA No 406- 2016 (O&M) vide order dated 30.1.2017 while further relying upon the decision of the Hon'ble Supreme Court in the case of “CIT Vs. Dhanalekshmi Bank Ltd.” (2015) 373 ITR 526 (SC), has dismissed the appeal of the Revenue without going into the merits due to low tax effect leaving the question of law open. In view of the CBDT Circular No. 03/2018 (supra) and in the light of the above referred to decision of the Hon'ble Jurisdictional Punjab & Haryana High Court (supra), the present appeal of the Revenue is dismissed…

ACIT, Circle, Panchkula vs. M/S Janak Global Resources Pvt. Ltd., Panchkula

Appeal of the Revenue is dismissed due to low

ITA 469/CHANDI/2018[2013-14]Status: DisposedITAT Chandigarh03 Jul 2018AY 2013-14

Bench: The Tribunal & Further Vide Para 10 Of The Said Circular It Has Been Clarified That Said Circular Is Applicable

…2 appeals by the Department before the Tribunal and further vide para 10 of the said Circular it has been clarified that said circular is applicable retrospectively to the pending appeals also. The Hon’ble Punjab & Haryana High Court in the case of “Principal CIT of Income Tax Vs. Surinder Kumar Singhal” ITA No 406-2016 (O&M) vide order dated 30.1.2017 while further relying upon the decision of the Hon'ble Supreme Court in the case of “CIT Vs. Dhanalekshmi Bank Ltd.” (2015) 373 ITR 526 (SC), has dismissed the appeal of the Revenue without going into the merits due to low tax effect leaving the question of…