CIT v. United Bank of India

115 CTR 35Reported decision#22071 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2020.

Judgments citing CIT v. United Bank of India

DCIT, Circle-II(I) vs. I.F.C.I. Ltd

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

ITA 2205/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Aug 2020AY 2001-2002

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 139Section 142Section 143

…d as bad debts. The Mumbai Tribunal allowed the claim of the bad debts even when the decision for such write-off was taken in the Board Resolution in the next financial year and observed as follows after relying on the decision of CIT v. United Bank of India, 115 CTR 35 (1993) :- “The Calcutta High Court also in the case of Union Bank of India (supra), has held that the resolution approving and accepting the recommendation relating to the treatment of certain items must relate back to the date upto which the accounts are finalised and such determination or approval must be treated as being effective from that dat…

Ifci Ltd vs. Addl. CIT, Circle-11(1)

In the result ITA number 2205/Del/2005 filed by the learned assessing officer is dismissed

ITA 2120/DEL/2005[2001-2002]Status: DisposedITAT Delhi31 Aug 2020AY 2001-2002

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 139Section 142Section 143

…d as bad debts. The Mumbai Tribunal allowed the claim of the bad debts even when the decision for such write-off was taken in the Board Resolution in the next financial year and observed as follows after relying on the decision of CIT v. United Bank of India, 115 CTR 35 (1993) :- “The Calcutta High Court also in the case of Union Bank of India (supra), has held that the resolution approving and accepting the recommendation relating to the treatment of certain items must relate back to the date upto which the accounts are finalised and such determination or approval must be treated as being effective from that dat…

M/S. Classic Shares & Stock Broking Services Ltd, Mumbai vs. The DCIT Cen Cir-40, Mumbai

In the result, appeal of the assessee is allowed

ITA 4820/MUM/2007[1998-1999]Status: DisposedITAT Mumbai09 Nov 2016AY 1998-1999

Bench: Shri R.C.Sharma, Am & Shri Pawan Singh, Jm M/S. Classic Shares & Stock Vs. Dcit – Cc-40, Mumbai Broking Services Ltd., Radha Bhavan, 1St Floor, 121, Nagindas Master Road, Mumbai-400023 Pan/Gir No. Aabcs4255R Appellant) .. Respondent)

Section 143(3)Section 147Section 36Section 36(1)Section 36(1)(vii)

…ndanwala -vs- ClT, (1981) 130 ITR 95 (Guj). 2. CIT -Vs- Jwala Prasad Tewari, 24 ITR 537 (Bom). 3. Sarangpur cotton Mfg. Co , Lrd. -vs- CIT, 143 ITR 166, 173 (Guj) • 4. CIT –vs- Union Carbide (1) Ltd., 7p., Taxrnan, 605, 610. 5. CIT-vs-.. United Bank of India, 115 CTR 35,38 (Cal). After considering submissions of the assessee, the claim of the assessee is allowed.” 5. Thereafter, the assessment was reopened u/s.147 on 28/03/2003 on the plea that the assessee has debited an amount of Rs.55,91,765/- as provision for bad debts in the P & L a/c. As per explanation below the proviso to clause vii of sub section (1) of…

CIT v. United Bank of India (115 CTR 35) — Cited in 3 Judgments | BharatTax