CIT v. Federal Bank

301 ITR 188High Court2008#6060 most cited
19

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 145Section 36(1)(viia)Section 37(1)Section 145(1)Section 18Section 36(1)(vii)Section 143(3)Section 22(1)

Issues it is cited on

section 36(1)(via)depreciation on leased assetssection 145(1)section 36(2)(v)section 41(4)section 22(1)section 36(1)(viia)right to receiveinterest on securitiessection 36(1)(vii)section 80hsection 18

Judgments citing CIT v. Federal Bank

ACIT CIRCLE 1 (1)&TPS, MANGALURU vs. M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OPERATIVE BANK LIMITED.,, MANGALURU

In the result, the appeal of the revenue is hereby dismissed

ITA 2333/BANG/2024[2018-19]Status: DisposedITAT Bangalore04 Mar 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

ACIT CIRCLE 1(1) & TPS, MANGALURU vs. M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OPERATIVE BANK LIMITED, MANGALURU

In the result, the appeal of the revenue is hereby dismissed

ITA 2332/BANG/2024[2017-18]Status: DisposedITAT Bangalore04 Mar 2025AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

ACIT CIRCLE1(1)& TPS , MANGALURU, MANGALURU vs. M/S SOUTH KANARA DISTRICT CENTRAL CO-OPERATIVE BANK LTD, MANGALURU

In the result, the appeal of the revenue is hereby dismissed

ITA 2331/BANG/2024[2016-17]Status: DisposedITAT Bangalore04 Mar 2025AY 2016-17

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OP BANK LTD,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, MANGALORE

In the result, the appeal of the revenue is hereby dismissed

ITA 219/BANG/2023[2018-19]Status: DisposedITAT Bangalore04 Mar 2025AY 2018-19

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OP BANK LTD,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, MANGALORE

In the result, the appeal of the revenue is hereby dismissed

ITA 218/BANG/2023[2017-18]Status: DisposedITAT Bangalore04 Mar 2025AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OP BANK LTD,MANGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 1, MANGALORE

In the result, the appeal of the revenue is hereby dismissed

ITA 217/BANG/2023[2016-17]Status: DisposedITAT Bangalore04 Mar 2025AY 2016-17

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Smt. Sheetal Borkar – AdvocateFor Respondent: Ms. Nandini Das, CIT (DR)
Section 145Section 22(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER ITA No. 217, 218 & 219/Bang/2023 Assessment Years: 2016-17, 2017-18 & 2018-19 The South Canara District Central Co- Vs. The Dy. Commissioner of operative Bank Ltd., Income Tax, Central Circle – 1, Head Office: Utkrishta Sahakari Soudha K.S Rao Road, Kodialbail, Mangaluru. Mangaluru – 575 003. PAN – AABAT 6621 N APPELLANT RESPONDENT ITA No. 2331, 2332 & 2333/Bang/2024 Assessment Years: 2016-17, 2017-18 & 2018-19 The Asst. Commissioner of Income Tax, Vs. The South Canara…

COMMISSIONER OF INCOME TA, KOLKATA - II vs. M/S. WEST BENGAL INFRASTRUCTURE DEVELOPMENT FINANCE CORPN. L

The appeals of the revenue are dismissed

ITA/331/2008HC Calcutta01 May 2024

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 1St May 2024. Appearance: Ms. Smita Das De, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Mr. Ananda Sen, Advocate … For The Respondent. 1. Heard Smt. Smita Das De, Learned Senior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sri Ananda Sen, Learned Counsel For The Respondent Assessee. 2.

Section 43BSection 43D

…in case of a recurring deposit, interest is received and reinvested and as such interest is required to be taxed every year and not altogether at the time of maturity. ... 24. We also find that the Hon'ble Kerala High Court in CIT v Federal Bank Ltd., (2008) 301 ITR 188 (Ker) has held that interest in respect of securities became due and receivable only upon maturity and there was no entitlement to interest prior to maturity. It is also pertinent to mention that the entire interest was accounted for and offered to tax by the assessee in the assessment year 2005-06. In this connection, attention is invited to Not…

PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-2, KOLKATA vs. WEST BENGAL INFRASTRUCTURE DEVELOPMENT FINANCE CORP. LTD.

The appeals of the revenue are dismissed

ITA/1/2018HC Calcutta01 May 2024

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 1St May 2024. Appearance: Ms. Smita Das De, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Mr. Ananda Sen, Advocate … For The Respondent. 1. Heard Smt. Smita Das De, Learned Senior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sri Ananda Sen, Learned Counsel For The Respondent Assessee. 2.

Section 43BSection 43D

…in case of a recurring deposit, interest is received and reinvested and as such interest is required to be taxed every year and not altogether at the time of maturity. ... 24. We also find that the Hon'ble Kerala High Court in CIT v Federal Bank Ltd., (2008) 301 ITR 188 (Ker) has held that interest in respect of securities became due and receivable only upon maturity and there was no entitlement to interest prior to maturity. It is also pertinent to mention that the entire interest was accounted for and offered to tax by the assessee in the assessment year 2005-06. In this connection, attention is invited to Not…

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

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

ITA 4564/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3645/Mum./2016 (Assessment Year : 2009–10) State Bank of India Finance Reporting & Taxation Department 3rd Floor, Corporate Centre ……………. Appellant Madam Cama Road, Nariman Point Mumbai 400 021 PAN – AAACS8577K v/s Dy. Commissioner of Income Tax ……………. Respondent Circle–2(2)(1), Mumbai ITA no.4564/Mum./2016 (Assessment Year : 2009–10) Asstt. Commissioner of Income Tax ……………. Appellant Circle–2(2)(1), Mumbai v/s State Bank of India Finance Reporting & Taxat…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

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

ITA 3645/MUM/2016[2009-10]Status: DisposedITAT Mumbai06 Jun 2023AY 2009-10

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

For Appellant: S/Shri P.J. Pardiwala a/w Ninad PatadeFor Respondent: Ms. Surabhi Sharma
Section 142(1)Section 143(2)Section 143(3)Section 14ASection 250Section 36(1)Section 36(1)(vii)Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3645/Mum./2016 (Assessment Year : 2009–10) State Bank of India Finance Reporting & Taxation Department 3rd Floor, Corporate Centre ……………. Appellant Madam Cama Road, Nariman Point Mumbai 400 021 PAN – AAACS8577K v/s Dy. Commissioner of Income Tax ……………. Respondent Circle–2(2)(1), Mumbai ITA no.4564/Mum./2016 (Assessment Year : 2009–10) Asstt. Commissioner of Income Tax ……………. Appellant Circle–2(2)(1), Mumbai v/s State Bank of India Finance Reporting & Taxat…

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

ITA 4951/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

…nt cannot be upheld as the interest does not represent interest accrued. (ii) Bank of Bahrain & Kuwait (ITA No. 4404 & 1883/Mum/2004) (Mumbai Special Bench) 48 ITA No.3685/M/2013 & ITA No.4951/M/2013 M/s. State Bank of India (iii) CIT v. Federal Bank Ltd. (301 ITR 188) (Ker) (iv) Housing Development and Finance Corporation (98 ITD 319) (Mum); (v) State Bank of Bikaner & Jaipur (74 ITD 203) (Jaipur); (vi) Punjab & Sind Bank (239 ITR 343) (Del); (vii) Canara Bank (195 ITR 66) (Kar). (viii) The CIT(A) has also upheld in earlier years, that interest on securities is to be taxed on due basis. 8.8 Accordingly,…

STATE BANK OF INDIA,MUMBAI vs. DCIT CIR 2(2), MUMBAI

ITA 3685/MUM/2013[2005-06]Status: DisposedITAT Mumbai22 Mar 2022AY 2005-06

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

For Appellant: Shri Ketan Ved, A.RFor Respondent: Shri Anand Mohan, D.R
Section 14Section 14ASection 36Section 41(4)

…nt cannot be upheld as the interest does not represent interest accrued. (ii) Bank of Bahrain & Kuwait (ITA No. 4404 & 1883/Mum/2004) (Mumbai Special Bench) 48 ITA No.3685/M/2013 & ITA No.4951/M/2013 M/s. State Bank of India (iii) CIT v. Federal Bank Ltd. (301 ITR 188) (Ker) (iv) Housing Development and Finance Corporation (98 ITD 319) (Mum); (v) State Bank of Bikaner & Jaipur (74 ITD 203) (Jaipur); (vi) Punjab & Sind Bank (239 ITR 343) (Del); (vii) Canara Bank (195 ITR 66) (Kar). (viii) The CIT(A) has also upheld in earlier years, that interest on securities is to be taxed on due basis. 8.8 Accordingly,…

PRINCIPAL COMMISSIONER OF INCOME TAX-4 vs. NAVIN CHAND SUCHANTI

The appeals of the revenue are dismissed

ITAT/1/2018HC Calcutta24 Nov 2021

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 1St May 2024. Appearance: Ms. Smita Das De, Advocate … For The Appellant. Mr. J. P. Khaitan, Senior Advocate Mr. Ananda Sen, Advocate … For The Respondent. 1. Heard Smt. Smita Das De, Learned Senior Standing Counsel For The Appellant & Sri J. P. Khaitan, Learned Senior Advocate Assisted By Sri Ananda Sen, Learned Counsel For The Respondent Assessee. 2.

Section 43BSection 43D

…in case of a recurring deposit, interest is received and reinvested and as such interest is required to be taxed every year and not altogether at the time of maturity. ... 24. We also find that the Hon'ble Kerala High Court in CIT v Federal Bank Ltd., (2008) 301 ITR 188 (Ker) has held that interest in respect of securities became due and receivable only upon maturity and there was no entitlement to interest prior to maturity. It is also pertinent to mention that the entire interest was accounted for and offered to tax by the assessee in the assessment year 2005-06. In this connection, attention is invited to Not…

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

…ed counsel for the assessee, the decision of Mumbai bench of Income Tax Appellate Tribunal in the case of Dy. CIT Vs Housing Development & Finance Corporation Ltd. 98 ITD 319 and that of the Hon'ble Kerala High Court in the case of C.I.T Vs Federal bank Ltd., 301 ITR 188 also support the assessee's case on this issue. Respectfully following these judicial pronouncements, we delete the addition made by the A.O. and confirmed by the ld. CIT(A) on this issue and allow ground No. 8 of assessee's appeal." Following the earlier order of this Tribunal, we decide this issue in favour of the assessee and against the reven…

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

…ed counsel for the assessee, the decision of Mumbai bench of Income Tax Appellate Tribunal in the case of Dy. CIT Vs Housing Development & Finance Corporation Ltd. 98 ITD 319 and that of the Hon'ble Kerala High Court in the case of C.I.T Vs Federal bank Ltd., 301 ITR 188 also support the assessee's case on this issue. Respectfully following these judicial pronouncements, we delete the addition made by the A.O. and confirmed by the ld. CIT(A) on this issue and allow ground No. 8 of assessee's appeal." Following the earlier order of this Tribunal, we decide this issue in favour of the assessee and against the reven…

DCIT - 3(2), MUMBAI vs. M/S. KOTAK MAHINDRA FINANCE LTD., MUMBAI

In the result, appeal filed by the Revenue is partly allowed

ITA 799/MUM/2007[2003-2004]Status: DisposedITAT Mumbai24 Jun 2016AY 2003-2004

Bench: Shri Sanjay Araora & Shri Pawan Singhassessment Year: 2003-04 Deupty Commissioner Of Income Kotak Mahendra Capital Co. Ltd Tax ,-3(2), Room No.68,6Th Floor, Bakthwar,1St Floor, 229, Nariman Vs. Aayakar Bhavan, Mk Road, Mumbai Point, Mumbai-21 Pan Aaack5577D

Section 14Section 14ASection 37Section 37(1)

…covered in his favour by the decision of Bombay High Court in CIT Vs Bank of Rajasthan 326 ITR 525(Bom) and in DIT(IT) Versus Credit Suisee First Boston(Cyprus) Ltd 351 ITR 323 , and further by the decision of Kerala High Court in CIT versus Federal bank Ltd 301 ITR 188(Ker). We have gone through the various decisions relied by ld AR of the assessee and considered the ratio laid down therein. In CIT versus bank of Rajasthan the jurisdictional High Court while considering the identical ground held as under “Insofar as the 3rd question is concerned, it is brought to our notice that in the assessment years 1991 –…

ASST.C.I.T., MANGALORE vs. M/S THE SOUTH CANARA DISTRICT CENTRAL CO-OPERATIVE BANK LTD.,, MANGALORE

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

ITA 1195/BANG/2015[2012-13]Status: DisposedITAT Bangalore09 Mar 2016AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri S. Ramasubramanian, CAFor Respondent: Mrs. Neera Malhotra, CIT-II
Section 144Section 194A(3)

…of the third proviso to sec.145(1) of the Act, which was in force during the relevant assessment years”. 50. It is not in dispute before us that identical decision has also been rendered by the Hon’ble High Court of Kerala in the case of CIT Vs Federal Bank, 301 ITR 188(Ker.) and the Hon’ble Karnataka High Court in the case of Karnataka Bank Ltd in ITA No.433/Bang/2005 dated 12.9.2013. 51. In the present case, the assessee has been following the method of offering interest on securities to tax on receipt basis on maturity and the same has been accepted by the revenue in the past. In view of the aforesaid decisio…

DCIT vs. ING VYSYA BANK, BANGALORE

In the result, appeal by the Assessee is partly allowed while the 68

ITA 318/BANG/2013[2005-06]Status: DisposedITAT Bangalore06 Feb 2015AY 2005-06

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2005-06 M/S. Ing Vysya Bank Ltd., Vs. The Assistant Commissioner Of Ing Vysya House, Income Tax, No.22, M.G. Road, Circle 11(4), Bangalore – 560 001. Bangalore. Pan: Aabct 0529M Appellant Respondent Assessment Year : 2005-06 The Deputy Commissioner Of Vs. M/S. Ing Vysya Bank Ltd., Income Tax, Bangalore – 560 001. Circle 11(4), Pan: Aabct 0529M Bangalore. Appellant Respondent Assessee By : Shri S. Ananthan, C.A. Revenue By : Shri C.H. Sundar Rao, Cit-I(Dr) Date Of Hearing : 20.01.2015 Date Of Pronouncement : 06.02.2015 O R D E R Per N.V. Vasudevan

For Appellant: Shri S. Ananthan, C.AFor Respondent: Shri C.H. Sundar Rao, CIT-I(DR)
Section 1Section 10Section 234D

…he third proviso to section 145(1) of the Act, which was in force during the relevant assessment years.” 66. It is not in dispute before us that identical decision has also been rendered by the Hon’ble High Court of Kerala in the case of CIT v. Federal Bank, 301 ITR 188 (Ker) and the Hon’ble Karnataka ITA No.288 & 318/Bang/2013 Page 49 of 50 High Court in the case of Karnataka Bank Ltd. in ITA No.433/2005 dated 12.9.2013. 67. In the present case, the assessee has been following the method of offering interest on securities to tax on receipt basis on maturity and the same has been accepted by the revenue in th…

ING VYSYA BANK LTD. vs. ACIT, BANGALORE

In the result, appeal by the Assessee is partly allowed while the 68

ITA 288/BANG/2013[2005-06]Status: DisposedITAT Bangalore06 Feb 2015AY 2005-06

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2005-06 M/S. Ing Vysya Bank Ltd., Vs. The Assistant Commissioner Of Ing Vysya House, Income Tax, No.22, M.G. Road, Circle 11(4), Bangalore – 560 001. Bangalore. Pan: Aabct 0529M Appellant Respondent Assessment Year : 2005-06 The Deputy Commissioner Of Vs. M/S. Ing Vysya Bank Ltd., Income Tax, Bangalore – 560 001. Circle 11(4), Pan: Aabct 0529M Bangalore. Appellant Respondent Assessee By : Shri S. Ananthan, C.A. Revenue By : Shri C.H. Sundar Rao, Cit-I(Dr) Date Of Hearing : 20.01.2015 Date Of Pronouncement : 06.02.2015 O R D E R Per N.V. Vasudevan

For Appellant: Shri S. Ananthan, C.AFor Respondent: Shri C.H. Sundar Rao, CIT-I(DR)
Section 1Section 10Section 234D

…he third proviso to section 145(1) of the Act, which was in force during the relevant assessment years.” 66. It is not in dispute before us that identical decision has also been rendered by the Hon’ble High Court of Kerala in the case of CIT v. Federal Bank, 301 ITR 188 (Ker) and the Hon’ble Karnataka ITA No.288 & 318/Bang/2013 Page 49 of 50 High Court in the case of Karnataka Bank Ltd. in ITA No.433/2005 dated 12.9.2013. 67. In the present case, the assessee has been following the method of offering interest on securities to tax on receipt basis on maturity and the same has been accepted by the revenue in th…