CIT v. India Radiators 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

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

…1 and following decisions of Hon’ble Supreme Court and various High Court in this issue: i. Shri Venkata Satyanarayan Rice Mills vs. CIT (223 ITR 101) (Supreme Court; ii. CIT vs. India Radiators Ltd. (236 ITR 719) (Mad); iii. CIT vs. Emtici Engineering Ltd. (242 ITR 86) (Guj); iv. CIT v. Travancore Cochin Chemicals Ltd. (243 ITR 284) ; v. Indian Oil Corporation Ltd. (ITA Nos. 4923 & 6063/Mum/1989) (Mum); and vi. Nuclear Power Corporation of India Ltd. (ITA No. 336/Mum/1999) (Mum). 31.7. the Ld.AR relied on the decision of cases decided in favour of the assessee by ITAT in own case vide Order dated: • 11 October…

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

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

…1 and following decisions of Hon’ble Supreme Court and various High Court in this issue: i. Shri Venkata Satyanarayan Rice Mills vs. CIT (223 ITR 101) (Supreme Court; ii. CIT vs. India Radiators Ltd. (236 ITR 719) (Mad); iii. CIT vs. Emtici Engineering Ltd. (242 ITR 86) (Guj); iv. CIT v. Travancore Cochin Chemicals Ltd. (243 ITR 284) ; v. Indian Oil Corporation Ltd. (ITA Nos. 4923 & 6063/Mum/1989) (Mum); and vi. Nuclear Power Corporation of India Ltd. (ITA No. 336/Mum/1999) (Mum). 31.7. the Ld.AR relied on the decision of cases decided in favour of the assessee by ITAT in own case vide Order dated: • 11 October…

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

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm

…se of Venkata Satyanarayana rice mills versus CIT [223 ITR 101], honourable Madras High Court decision in the case of CIT versus India radiators limited [236 ITR 719] and Page | 9 honourable Gujarat High Court in the case of CIT versus Emtici engineering Ltd [242 ITR 86.] 14) The learned assessing officer held that in the case of the assessee these payments are in the nature of outright grants or deposits. It has been held in the earlier years that such expenditure is not really for the welfare of the staff but is meant to ensure that only the senior officers of the bank are able to secure their children admitted…

DCIT 2(2), Mumbai vs. State Bank of India, Mumbai

In the result appeal filed by the assessee for assessment year 2006 – 07 and 2007 – 08 is partly allowed

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm A.Y.2006-07 [ By Assessee] &

…t in case of Venkata Satyanarayana rice mills versus CIT [223 ITR 101], honourable Madras High Court decision in the case of CIT versus India radiators limited [236 ITR 719] and ` honourable Gujarat High Court in the case of CIT versus Emtici engineering Ltd [242 ITR 86.] 14) The learned assessing officer held that in the case of the assessee these payments are in the nature of outright grants or deposits. It has been held in the earlier years that such expenditure is not really for the welfare of the staff but is meant to ensure that only the senior officers of the bank are able to secure their children admitted…

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

In the result appeal filed by the assessee for assessment

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm

…f Venkata Satyanarayana rice mills versus CIT [223 ITR 101], honourable Madras High Court decision in the case of CIT versus India radiators limited [236 ITR 719] and Page | 9 honourable Gujarat High Court in the case of CIT versus Emtici engineering Ltd [242 ITR 86.] 14) The learned assessing officer held that in the case of the assessee these payments are in the nature of outright grants or deposits. It has been held in the earlier years that such expenditure is not really for the welfare of the staff but is meant to ensure that only the senior officers of the bank are able to secure their children ad…

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

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

…32 of the compilation. The Id. Counsel also placed reliance on the following judicial decisions in this regard. Shri Venkatastayanarayana Rice Mills Vs CIT (223 ITR 101) (SC)  CIT VS India Radiators Ltd. (236 ITR 719) (Mad)  CIT Vs Emtici Engineering Ltd. (242 ITR 86) 33. The Id. D.R., on the other hand, contended that this facility was restricted to only officers and not employees, hence, its was arbitrary and un-reasonable, hence, assessee being as government owned bank falling within definition as per Article 12 of Constitution of India could not do so and, therefore, expenditure was correctly disallowed by…

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

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

…32 of the compilation. The Id. Counsel also placed reliance on the following judicial decisions in this regard. Shri Venkatastayanarayana Rice Mills Vs CIT (223 ITR 101) (SC)  CIT VS India Radiators Ltd. (236 ITR 719) (Mad)  CIT Vs Emtici Engineering Ltd. (242 ITR 86) 33. The Id. D.R., on the other hand, contended that this facility was restricted to only officers and not employees, hence, its was arbitrary and un-reasonable, hence, assessee being as government owned bank falling within definition as per Article 12 of Constitution of India could not do so and, therefore, expenditure was correctly disallowed by…

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

In the result, appeal of the revenue is dismissed

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)

…9 to 32 of compilation. The ld counsel also placed reliance on the following judicial decision in this regard. Shri Venkatsatyanarayana Rice Mills vs CIT [223 ITR 101](SC) CIT versus Indian radiators Ltd 436 ITR 719 Madras CIT versus Emiici Engineering Ltd 242 ITR 86 CIT versus Travancore Cochin chemicals Ltd 243 ITR 284 33. The ld DR on the other hand, contended that this facility was restricted to only officers and not employees, hence, it was arbitrary and unreasonable, hence, assessee being a government owned bank falling within the definition as per Article 12 of the Constitution of India could not do s…

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

In the result, appeal of the revenue is dismissed

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)

…9 to 32 of compilation. The ld counsel also placed reliance on the following judicial decision in this regard. Shri Venkatsatyanarayana Rice Mills vs CIT [223 ITR 101](SC) CIT versus Indian radiators Ltd 436 ITR 719 Madras CIT versus Emiici Engineering Ltd 242 ITR 86 CIT versus Travancore Cochin chemicals Ltd 243 ITR 284 33. The ld DR on the other hand, contended that this facility was restricted to only officers and not employees, hence, it was arbitrary and unreasonable, hence, assessee being a government owned bank falling within the definition as per Article 12 of the Constitution of India could not do s…