CIT v. Lord Krishna Bank Ltd.

339 ITR 606High Court2011#2286 most cited

What is CIT v. Lord Krishna Bank Ltd. authority for?

For the purpose of identifying a bank's rural branch under Explanation (ia) to Section 36(1)(viia) of the Income-tax Act, the 'place' refers to a revenue village, not a ward of a local authority like a Panchayat or Municipality. A rural branch is located in a village where the population is less than 10,000.

50

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2025.

Also referred to as

CIT v. Lord Krishna Bank Ltd. · 339 ITR 606 · Section 36(1)(viia) · rural branch definition · Explanation (ia) rural area · revenue village · population criteria less than 10 · 000 · bank bad debts provision · meaning of rural area census report · disclosure material facts reassessment

Sections most often in play

Section 143(3)Section 36(1)(viia)Section 36(1)(vii)Section 139Section 142Section 147Section 148Section 37(1)
Read the full judgment

Issues it is cited on

section 41(4)section 36(2)(v)section 197a(1a)section 36(1)(v)section 4apreliminary expensessection 36(1)(viii)section 197asection 46section 36(1)(viia)section 35dexplanation to section 37

Judgments citing CIT v. Lord Krishna Bank Ltd.

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee for assessment year 2011-2012, 2012-2013 and 2014-2015 are

ITA 389/COCH/2018[2014-15]Status: DisposedITAT Cochin04 Sept 2019AY 2014-15

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 139ASection 194ASection 194A(3)Section 197ASection 206ASection 40

…of the assessee. The view taken by the assessee was confirmed by the Assessing Officer. The learned AR fairly conceded that the issue in question is covered by the judgment of the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. The Departmental Representative was duly heard. 9. We have heard the rival submissions and perused the material on record. The learned AR has fairly conceded that the issue of deduction of advances made by the rural branches is covered against the assessee by the judgment of the Hon’ble jurisdictional High Court in the case of CIT v. Lo…

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee for assessment year 2011-2012, 2012-2013 and 2014-2015 are

ITA 388/COCH/2018[2013-14]Status: DisposedITAT Cochin04 Sept 2019AY 2013-14

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 139ASection 194ASection 194A(3)Section 197ASection 206ASection 40

…of the assessee. The view taken by the assessee was confirmed by the Assessing Officer. The learned AR fairly conceded that the issue in question is covered by the judgment of the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. The Departmental Representative was duly heard. 9. We have heard the rival submissions and perused the material on record. The learned AR has fairly conceded that the issue of deduction of advances made by the rural branches is covered against the assessee by the judgment of the Hon’ble jurisdictional High Court in the case of CIT v. Lo…

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee for assessment year 2011-2012, 2012-2013 and 2014-2015 are

ITA 387/COCH/2018[2012-13]Status: DisposedITAT Cochin04 Sept 2019AY 2012-13

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 139ASection 194ASection 194A(3)Section 197ASection 206ASection 40

…of the assessee. The view taken by the assessee was confirmed by the Assessing Officer. The learned AR fairly conceded that the issue in question is covered by the judgment of the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. The Departmental Representative was duly heard. 9. We have heard the rival submissions and perused the material on record. The learned AR has fairly conceded that the issue of deduction of advances made by the rural branches is covered against the assessee by the judgment of the Hon’ble jurisdictional High Court in the case of CIT v. Lo…

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee for assessment year 2011-2012, 2012-2013 and 2014-2015 are

ITA 386/COCH/2018[2011-12]Status: DisposedITAT Cochin04 Sept 2019AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 139ASection 194ASection 194A(3)Section 197ASection 206ASection 40

…of the assessee. The view taken by the assessee was confirmed by the Assessing Officer. The learned AR fairly conceded that the issue in question is covered by the judgment of the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. The Departmental Representative was duly heard. 9. We have heard the rival submissions and perused the material on record. The learned AR has fairly conceded that the issue of deduction of advances made by the rural branches is covered against the assessee by the judgment of the Hon’ble jurisdictional High Court in the case of CIT v. Lo…

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee are dismissed

ITA 385/COCH/2018[2010-11]Status: DisposedITAT Cochin04 Sept 2019AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 143(3)Section 147Section 263Section 36(1)(viia)

…2010-2011 was of the view that the ITA No.384-385/Coch/2018 3 M/s.Alleppey District Co-op.Bank Ltd. assessee did not have any rural branches in view of the dictum laid down by the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. Therefore, the assessee’s claim of deduction u/s 36(1)(viia) of the I.T.Act with regard to the advances made by the rural branches was disallowed. The relevant finding of the Assessing Officer in the order passed u/s 143(3) r.w.s. 147 of the I.T.Act, for assessment year 2009-2010, reads as follow:- “Section 36(1)(viia) does not allow de…

The Alleppey Dist Co- Bank Ltd, Alappuzha vs. The ACIT, Alappuzha

In the result, the appeals filed by the assessee are dismissed

ITA 384/COCH/2018[2009-10]Status: DisposedITAT Cochin04 Sept 2019AY 2009-10

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.R.KrishnanFor Respondent: Smt.A.S.Bindhu, Sr.DR
Section 143(3)Section 147Section 263Section 36(1)(viia)

…2010-2011 was of the view that the ITA No.384-385/Coch/2018 3 M/s.Alleppey District Co-op.Bank Ltd. assessee did not have any rural branches in view of the dictum laid down by the Hon’ble Kerala High Court in the case of CIT v. Lord Krishna Bank Ltd. [(2011) 339 ITR 606 (Ker.)]. Therefore, the assessee’s claim of deduction u/s 36(1)(viia) of the I.T.Act with regard to the advances made by the rural branches was disallowed. The relevant finding of the Assessing Officer in the order passed u/s 143(3) r.w.s. 147 of the I.T.Act, for assessment year 2009-2010, reads as follow:- “Section 36(1)(viia) does not allow de…

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)

…of the details when it was found that some of the branches in respect of which the assessee claimed deduction are located in the area which cannot be defined as rural in view of the decision of the Hon'ble Kerala High Court in the case of CIT Vs. Lord Krishna 339 ITR 606. Further some branches are located at the place where the population of the area exceeds 10,000. The assessee filed its objections to the notices issued under Section 148 but could not find favour either from the Assessing Officer or from the CIT (Appeals). 5. Before us, the learned Authorised Representative of the assessee has submitted that the…

Theacit, Cochin vs. The Ernakulam District Co-Operative Bank Ltd, Cochin

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

ITA 522/COCH/2015[2010]Status: DisposedITAT Cochin22 Mar 2017

Bench: S/Shri Abraham P George, Am & George George K, Jm & (Asst Year 2010-11)) The Ernakulam Dist Coop Bank Ltd Vs The Jt Director Of Income Tax Kakkanad (Exemption) Kochi Kochi ( Appellant/Respondent) (Respondent/Appellant)

Section 36(1)Section 36(1)(viia)Section 40

…anches, which are situated in a village having population of 10,000 or less has to be considered. The Assessing Officer relied on the definition of rural branches, rendered by the jurisdictional High Court, in the case of Lord Krishna Bank Ltd., reported in 339 ITR 606. 4.1 Aggrieved by the assessment, the assessee preferred appeal to the first appellate authority. The CIT(A), following the judgment of the Hon’ble Kerala High Court, in the case of Lord Krishna Bank Ltd (supra), held that deduction u/s 36(1)(viia) of the Act, in respect of rural branches, has been decided against the assessee. 4.2 Aggrieved b…

M/S.the Ernakulam District Co-Op Bank Ltd, Cochin vs. The Jt. Director of Income Tax (Exemption), Cochin

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

ITA 508/COCH/2015[2010-11]Status: DisposedITAT Cochin22 Mar 2017AY 2010-11

Bench: S/Shri Abraham P George, Am & George George K, Jm & (Asst Year 2010-11)) The Ernakulam Dist Coop Bank Ltd Vs The Jt Director Of Income Tax Kakkanad (Exemption) Kochi Kochi ( Appellant/Respondent) (Respondent/Appellant)

Section 36(1)Section 36(1)(viia)Section 40

…anches, which are situated in a village having population of 10,000 or less has to be considered. The Assessing Officer relied on the definition of rural branches, rendered by the jurisdictional High Court, in the case of Lord Krishna Bank Ltd., reported in 339 ITR 606. 4.1 Aggrieved by the assessment, the assessee preferred appeal to the first appellate authority. The CIT(A), following the judgment of the Hon’ble Kerala High Court, in the case of Lord Krishna Bank Ltd (supra), held that deduction u/s 36(1)(viia) of the Act, in respect of rural branches, has been decided against the assessee. 4.2 Aggrieved b…

The Commissioner of income Tax-II vs. M/s.Ideal Industrial Explosives Ltd

ITTA/100/2010HC Telangana01 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY