CIT v. Nawanshahar Central Co-operative Bank Ltd.

160 Taxmann 48Supreme Court of India2007#328 most cited

What is CIT v. Nawanshahar Central Co-operative Bank Ltd. authority for?

Interest income arising from investments made by banks, including co-operative banks, is attributable to their business of banking and is treated as profits and gains of business, qualifying for deduction under Section 80P(2)(a)(i).

256

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Nawanshahar Central Co-operative Bank Ltd. · Section 80P(2)(a)(i) · Section 80P · interest income · investment income · co-operative bank · banking business · business income · deduction

Also reported as

289 ITR 6

Sections most often in play

Section 80P(2)(d)Section 80P(2)(a)(i)Section 143(3)Section 250Section 80P(4)Section 80PSection 2(19)Section 263

Issues it is cited on

section 57(i)section 80(2)(d)section 80(p)(2)(a)section 286section 161section 80p(2)(c)section 60interest on securitiessection 2(19)section 80p(4)section 80p(2)(a)section 21

Judgments citing CIT v. Nawanshahar Central Co-operative Bank Ltd.

Shree Botad Jilla Sahkari Dudh Utpadak Sangh Ltd., Botad vs. Dy. Commr. of Income Tax-CPC, Bangalore

In the result, appeal of the assessee is dismissed

ITA 447/RJT/2017[2016-17]Status: DisposedITAT Rajkot08 Apr 2022AY 2016-17

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarassessment Year :2016-17

For Appellant: NoneFor Respondent: Shri S.S.Rathi, Sr.DR
Section 143(1)Section 154Section 80P

…considered by the Hon'ble CBDT vide Circular No. 18/2015 dated 2-11-2015 (copy enclosed). The Hon’ble CBDT has at para 3 as specifically mentioned that in view of decisions of Hon’ble Supreme Court in the case of CIT Vs. Nawanshahar Central Co-op. Bank Ltd., 289 ITR 6 (SC). 3. In view of the above it is humbly submitted that the disallowance made by the ld.CPC Bangalore without giving any reason is illegal and also in view of the CBDT’s instruction the interest income is to be allowed as deduction u/s 80P. 4. It is therefore prays that appeal filed may kindly be allowed." 3 4. After considering the submissions…

Hindustan Co-Operative Credit Society Ltd., Mumbai vs. ITO, W-26(1)(5), Mumbai

In the result, these appeals of the assessee stands partly allowed for statistical purposes

ITA 5902/MUM/2019[2013-14]Status: DisposedITAT Mumbai04 Apr 2022AY 2013-14
Section 143(1)Section 80PSection 80P(2)Section 80P(2)(a)Section 80P(2)(c)Section 80P(2)(d)

…its funds in co-operative banks. The interest earned by co-operative credit society from co-operative bank is a business income, the same has been accepted by The Hon'ble Supreme Court in the case of CIT v/s. Nawanshahar Central Co-operative Bank Ltd. [2007] 289 ITR 6 (SC) wherein their Lordships have observed as under. "This court has consistently held that investments made by a banking concern are part of the business of banking. The income arising from such investments would, therefore, be attributable to the business of bank falling under the head "Profits and gains of business" and thus deductible under se…

ACIT, Circle- 19(1), New Delhi vs. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1812/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Circle- 19(1), New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1199/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2174/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2173/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1583/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1582/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

Oriental Bank of Commerce, Gurgaon vs. Addl. CIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1581/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Mar 2022AY 2012-13

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. A. D. Jain, Vice-President Dr. B. R. R. Kumar, Accountant Member ITA No. 1581/Del/2017 : Asstt. Year : 2012-13 ITA No. 1582/Del/2017 : Asstt. Year : 2013-14 ITA No. 1583/Del/2017 : Asstt. Year : 2014-15 ITA No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank of Commerce, Vs Addl. CIT, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 DCIT/ACIT, Circle-19(1), New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACO0191M ITA No. 1823/Del/2017 : Asstt. Year : 2012-13 I…

The Shri Bajrang Alloys Ltd., Raipur (Cg) vs. The Dy. Commissioner of Income Tax 1(2), Raipur (Cg)

The appeal of the assessee is allowed in terms of our aforesaid observations

ITA 174/BIL/2016[2012-13]Status: DisposedITAT Raipur21 Feb 2022AY 2012-13

Bench: Shri Ravish Sood & Shri Jamlappa D Battullआयकर अपील सं. / Ita No. 174/Rpr/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/Cit(A), Industrial Area, Urla, Raipur (C.G) Pan : Aaecs9218D .......अपीलाथ" / Appellant बनाम / V/S.

For Appellant: Shri Amit M Jain, A.RFor Respondent: Shri G.N Singh, D.R
Section 143(2)Section 143(3)Section 14A

…आयकर अपील"य अ"धकरण "यायपीठ रायपुर म"। IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR (Through Virtual Court at Pune) BEFORE SHRI RAVISH SOOD, JUDICIAL MEMBER AND SHRI JAMLAPPA D BATTULL, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No. 174/RPR/2016 "नधा"रण वष" / Assessment Year : 2012-13 Shri Bajrang Alloys Limited 521/CIT(A), Industrial Area, Urla, Raipur (C.G) PAN : AAECS9218D .......अपीलाथ" / Appellant बनाम / V/s. The Deputy Commissioner of Income Tax 1(2), Raipur. ……""यथ" / Respondent Assessee by : Shri Amit M Jain, A.R Revenue by : Shri G.N Singh, D.R सुनवाई क" तार"ख / Date of Hearing : 03.02.2022 घोष…

DCIT Circle 2(1), Trichy vs. The Karur Vysya Bank Ltd., Karur

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

ITA 2169/CHNY/2018[2013-14]Status: DisposedITAT Chennai31 Jan 2022AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri M. Rajan, CITFor Respondent: Shri S. Ananthan, CA &
Section 143(3)Section 154Section 36(1)(viia)

…r 2007-08 in ITA No.1497/Chny/2013 dated 28.02.2019, as reported in [2019] 72 ITR (Trib) 26. The ld.AR stated on merits that the issue is covered by the decision of Hon’ble Supreme Court in the case of CIT vs. Nawanshahar Central Co-opertive Bank Ltd., [2007] 289 ITR 6 (SC), wherein the Board Circular No.18/2015 dated 02.11.2015 has clarified that the investments held by the banking concern are part of business of banking and therefore, the income from the same is taxable under the head ‘profits and gains of business’. According to him, the natural corollary of the circular and the decision of Hon’ble Supreme Cou…

Hdfc Bank Ltd (Successor to Businss of Centurion Bank of Punjab Ltd), Mumbai vs. DCIT 2(3), Mumbai

In the result, appeal is partly allowed

ITA 374/MUM/2012[2008-09]Status: DisposedITAT Mumbai13 Jan 2022AY 2008-09

Bench: Shri G.S.Pannu (Hon’Ble) & Shri Saktijit Dey (Hon’Ble)

Section 14A

…ts are held as stock in trade of the business. Drawing our attention to circular No.18/2015 dated 02-11- 2015, learned senior counsel submitted, after the decision of the Hon’ble Supreme Court in case of CIT vs Nawanshahar Central Co-operative Bank Ltd (2007) 160 Taxmann 48 (SC), even, the CBDT has issued the circular stating that in case of investment made by a banking concern, the income arising from such investment is attributable to the business of banking falling under the head “Profits and gains of business or profession”. Thus, he submitted, since the securities, shares and bonds are held as stock in trade…

Andhra Pragathi Farmers Service Co- Op Soceity, Pedda Harivanam vs. ITO Ward-1, Adoni

Appeals are allowed in above terms

ITA 248/HYD/2021[2015-16]Status: DisposedITAT Hyderabad06 Jan 2022AY 2015-16

Bench: Shri A.M. Alankamony & Shri S.S. Godara

For Appellant: Sri K.A. Sai PrasadFor Respondent: Sri Rajendra Kumar, CIT(DR)
Section 236Section 263Section 80PSection 80P(2)(d)

…ertaining to the interest income derived from nationalized banks. Learned Pr.CIT holds that the hon'ble apex court’s decision in Totgars Co-operative Society Ltd vs, Income Tax Officer (322 ITR 283) (S.C) as well as CIT vs. Nawanshahar Central Co-op Bank Ltd (289 ITR 6) (S.C) have already held that such deduction isn’t available to a society like the assessee but banks only. He has also referred to the CBDT Circular No.18/2015 to the very fact. 4. Both the parties reiterated their respective stands against and in support of Pr.CIT’s foregoing revision directions. We notice in this factual backdrop that the insta…

Andhra Pragathi Farmers Service Co- Op Soceity, Pamulapadu vs. ITO Ward-2, Nandyal

Appeals are allowed in above terms

ITA 247/HYD/2021[2015-16]Status: DisposedITAT Hyderabad06 Jan 2022AY 2015-16

Bench: Shri A.M. Alankamony & Shri S.S. Godara

For Appellant: Sri K.A. Sai PrasadFor Respondent: Sri Rajendra Kumar, CIT(DR)
Section 236Section 263Section 80PSection 80P(2)(d)

…ertaining to the interest income derived from nationalized banks. Learned Pr.CIT holds that the hon'ble apex court’s decision in Totgars Co-operative Society Ltd vs, Income Tax Officer (322 ITR 283) (S.C) as well as CIT vs. Nawanshahar Central Co-op Bank Ltd (289 ITR 6) (S.C) have already held that such deduction isn’t available to a society like the assessee but banks only. He has also referred to the CBDT Circular No.18/2015 to the very fact. 4. Both the parties reiterated their respective stands against and in support of Pr.CIT’s foregoing revision directions. We notice in this factual backdrop that the insta…

Andhra Pragathi Farmers Service Co- Op Soceity, Yerraguntla vs. ITO Ward-2, Nandyal

Appeals are allowed in above terms

ITA 246/HYD/2021[2015-16]Status: DisposedITAT Hyderabad06 Jan 2022AY 2015-16

Bench: Shri A.M. Alankamony & Shri S.S. Godara

For Appellant: Sri K.A. Sai PrasadFor Respondent: Sri Rajendra Kumar, CIT(DR)
Section 236Section 263Section 80PSection 80P(2)(d)

…ertaining to the interest income derived from nationalized banks. Learned Pr.CIT holds that the hon'ble apex court’s decision in Totgars Co-operative Society Ltd vs, Income Tax Officer (322 ITR 283) (S.C) as well as CIT vs. Nawanshahar Central Co-op Bank Ltd (289 ITR 6) (S.C) have already held that such deduction isn’t available to a society like the assessee but banks only. He has also referred to the CBDT Circular No.18/2015 to the very fact. 4. Both the parties reiterated their respective stands against and in support of Pr.CIT’s foregoing revision directions. We notice in this factual backdrop that the insta…

The Principal Commissioner of Income Tax vs. Peroorkada Service Co-Operative Bank Ltd

Appeals are allowed as indicated above

ITA/5/2020HC Kerala01 Nov 2021

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

Section 260ASection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE BASANT BALAJI MONDAY, THE 1ST DAY OF NOVEMBER 2021 / 10TH KARTHIKA, 1943 ITA NO. 323 OF 2019 AGAINST THE ORDER IN ITA 67/2019 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: THE PRINCIPAL COMMISSIONER OF INCOME TAX THIRUVANANTHAPURAM BY ADV SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT RESPONDENT/S: M/S. PEROORKADA SERVICE CO-OPERATIVE BANK LTD TC 845/1, PEROORKADA, TRIVANDRUM-695 005. BY ADV SRI.C.A.JOJO THIS INCOME TAX APPEAL HAVING COME UP FOR HEARING ON 01.11.2021, ALONG WITH ITA.142/2019,…

The Principal Commissioner of Income Tax vs. Vilappil Service Co-Operative Bank Ltd

Appeals are allowed as indicated above

ITA/142/2019HC Kerala01 Nov 2021

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

Section 260ASection 80P(2)Section 80P(2)(a)Section 80P(2)(d)

…IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI & THE HONOURABLE MR.JUSTICE BASANT BALAJI MONDAY, THE 1ST DAY OF NOVEMBER 2021 / 10TH KARTHIKA, 1943 ITA NO. 323 OF 2019 AGAINST THE ORDER IN ITA 67/2019 OF I.T.A.TRIBUNAL,COCHIN BENCH, ERNAKULAM APPELLANT/S: THE PRINCIPAL COMMISSIONER OF INCOME TAX THIRUVANANTHAPURAM BY ADV SRI.CHRISTOPHER ABRAHAM, INCOME TAX DEPARTMENT RESPONDENT/S: M/S. PEROORKADA SERVICE CO-OPERATIVE BANK LTD TC 845/1, PEROORKADA, TRIVANDRUM-695 005. BY ADV SRI.C.A.JOJO THIS INCOME TAX APPEAL HAVING COME UP FOR HEARING ON 01.11.2021, ALONG WITH ITA.142/2019,…

Kothari Products Ltd., Kanpur vs. Astt. Commissioner of Income Tax, Kanpur

In the result, both the appeals of the assessee stand allowed for statistical purposes

ITA 255/LKW/2015[2009-10]Status: DisposedITAT Lucknow20 Oct 2021AY 2009-10

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2009-10 &

Section 14ASection 14A(2)Section 4A

…I.T.A. No.928/Lkw/2014 1 I.T.A. No.255/Lkw/2015 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER Assessment Year:2009-10 & I.T.A. No.928/Lkw/2014 Assessment year:2010-11 M/s Kothari Products Ltd., Vs. A.C.I.T., 24/19, The Mall, Central Circle-1, Kanpur. Kanpur. PAN:AAACK5571F (Appellant) (Respondent) Appellant by Shri Abhinav Mehrotra, Advocate Respondent by Shri Ajay Kumar, D.R. Date of hearing 14/09/2021 Date of pronouncement 20/10/2021 O R D E R PER T. S. KAPOOR, A.M. These two appeals have been filed by the…

Kothari Products Ltd., Kanpur vs. Asstt. Commissioner of Income Tax, Kanpur

In the result, both the appeals of the assessee stand allowed for statistical purposes

ITA 928/LKW/2014[2010-11]Status: DisposedITAT Lucknow20 Oct 2021AY 2010-11

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2009-10 &

Section 14ASection 14A(2)Section 4A

…I.T.A. No.928/Lkw/2014 1 I.T.A. No.255/Lkw/2015 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER Assessment Year:2009-10 & I.T.A. No.928/Lkw/2014 Assessment year:2010-11 M/s Kothari Products Ltd., Vs. A.C.I.T., 24/19, The Mall, Central Circle-1, Kanpur. Kanpur. PAN:AAACK5571F (Appellant) (Respondent) Appellant by Shri Abhinav Mehrotra, Advocate Respondent by Shri Ajay Kumar, D.R. Date of hearing 14/09/2021 Date of pronouncement 20/10/2021 O R D E R PER T. S. KAPOOR, A.M. These two appeals have been filed by the…

The South Indian Bank Ltd vs. The Commissioner of Income Tax

C.A. No.-009606-009606 - 2011Supreme Court09 Sept 2021

Bench: HON'BLE MR. JUSTICE HRISHIKESH ROY

Section 14Section 14A

…[REPORTABLE] IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 9606 OF 2011 SOUTH INDIAN BANK LTD. APPELLANT(S) VERSUS COMMISSIONER OF INCOME TAX RESPONDENT(S) WITH CIVIL APPEAL NO. OF 2021 [Arising out of SLP(C) No. 32761 OF 2018] CIVIL APPEAL NO. 9609 OF 2011 CIVIL APPEAL NO. 9610 OF 2011 CIVIL APPEAL NO. 9611 OF 2011 CIVIL APPEAL NO. 9615 OF 2011 CIVIL APPEAL NO. 9608 OF 2011 CIVIL APPEAL NO. 9612 OF 2011 CIVIL APPEAL NO. 9614 OF 2011 CIVIL APPEAL NO. 9613 OF 2011 CIVIL APPEAL NO. 9607 OF 2011 Page 1 of 22 Digitally signed by DEEPAK SINGH Date: 2021.09.09 19:20:53 IST Rea…