How many judgments cite CIT v. UTI Bank Ltd.?

131 judgments on BharatTax cite CIT v. UTI Bank Ltd. (32 Taxmann.com 370), spanning 2016 to 2026.

CIT v. UTI Bank Ltd.

Q: Which sections of the Income Tax Act does CIT v. UTI Bank Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 14A, Section 1961, Section 36(1)(iii), Section 10(34) of Income Tax Act, Section 10(38).

32 Taxmann.com 370High Court2013#787 most cited

What is CIT v. UTI Bank Ltd. authority for?

If an assessee possesses sufficient interest-free funds, it is presumed that investments yielding exempt income were made from these funds, therefore disallowance of interest expenditure under Section 14A is not justified.

131

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. UTI Bank Ltd. · Section 14A · disallowance under section 14A · interest expenditure · exempt income · interest free funds · presumption · own funds · Rule 8D(2)(ii) · Gujarat High Court

Also reported as

215 Taxmann 8

Sections most often in play

Section 143(3)Section 14A Section 1961 Section 36(1)(iii)Section 10(34) of Income Tax Act Section 10(38)Section 144B Section 145

Issues it is cited on

section 36(1)(viia)disallowance of interest expenditure section 36(1)(vii)disallowance under section 14a permanent establishment most appropriate method section 14a transfer pricing adjustment disallowance u/s 14a section 40(a)tnmm section 36(1)

Judgments citing CIT v. UTI Bank Ltd.

JOINT COMMISIONER OF INCOME TAX(OSD) CIRCLE 3(1)(1) AHMEDABAD, AHMEDABAD vs. NIRMA CHEMICAL WORKS PRIVATE LIMITED, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 164/AHD/2026[2020-21]Status: DisposedITAT Ahmedabad26 Feb 2026AY 2020-21

Bench: Dr. B.R.R. Kumar, Vice-Shri T.R. Senthil Kumar

Section 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER I.T.A. No. 164/Ahd/2026 (Assessment Year: 2020-21) Joint Commissioner of Vs. Nirma Chemical Works Income-tax (OSD), Private Limited, Circle 3(1)(1), Ahmedabad Nirma House, Near Income Tax Circle, Ashram Road, Ahmedabad-38009 [PAN : AAACN 5353 L] (Appellant) .. (Respondent) Assessee represented by : Shri Hemanshu Shah, CA Revenue represented by: Shri Alpesh Parmar, CIT (DR) Date of Hearing 25.02.2026 Date of Pronouncement 26.02.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESID…

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department

Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’: NEW DELHI BEFORE SHRIS.RIFAUR RAHMAN, ACCOUNTANT MEMBER and SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No.901/DEL/2017 (Assessment Year: 2012-13) Maruti Suzuki India Limited, vs, DCIT, Circle 16 (1), Plot No.1, Nelson Mandela Road, New Delhi. Vasant Kunj, New Delhi – 110 070. (PAN : AAACM0829Q) DCIT, Circle 16 (1), vs. Maruti Suzuki India Limited, New Delhi. Plot No.1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110 070. (PAN : AAACM0829Q) (APPELLANT) (RESPONDENT) ASSESSEE BY : Shri Ajay Vohra, Sr. Advocate Shri Neeraj Jain, Advocate Shri Rohit Jain, Advocate…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department

Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

ITA 588/CHANDI/2018[2012-13]Status: DisposedITAT Chandigarh08 Sept 2025AY 2012-13

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

For Appellant: Shri Ashwani Kumar, Shri Ashish Aggarwal &For Respondent: Shri Manav Bansal, CIT, DR

Section 10(38)Section 143(1)Section 14ASection 36(1)(iii)

…आयकर अपीलीय अिधकरण,च"ीगढ़ "ायपीठ “ए” , च"ीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “A”, CHANDIGARH HEARING THROUGH: PHYSICAL MODE "ी राजपाल यादव, उपा"" एवं "ी कृणव" सहाय, लेखा सद" BEFORE: SHRI. RAJPAL YADAV, VP & SHRI. KRINWANT SAHAY, AM आयकर अपील सं./ ITA No. 588/Chd/ 2018 िनधा"रण वष" / Assessment Years : 2012-13 The DCIT बनाम M/s Hero Cycles Ltd. C-V, Ludhiana Hero Nagar, G.T. Road Ludhiana "ायी लेखा सं./PAN NO: AAACH4073P अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 473/Chd/ 2018 िनधा"रण वष" / Assessment Years : 2012-13 M/s Hero Cycles Ltd. बनाम The ACIT Hero Nagar, G.T. Road Ludhia…

PRATHAM INVESTMENTS,VADODARA, GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), VADODARA (NOW DCIT, CIRCLE 1(1)(1)), VADODARA, GUJARAT

ITA 573/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad15 May 2025AY 2014-15

For Appellant: \nShri Bhavin Marfatia & Ms. AmrinFor Respondent: \nShri Rignesh Das, CIT. DR & Shri

Section 14ASection 250

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“D” BENCH, AHMEDABAD\nBEFORE: SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER\nAND\nMs. SUCHITRA KAMBLE, JUDICIAL MEMBER\nआयकर अपील सं./I.T.A. Nos.572, 573 & 574/Ahd/2024\n(निर्धारण वर्ष / Assessment Years : 2011-12, 2014-15 & 2015-16)\n\nPratham Investments\nबनाम /\nThe\nDeputy\nGround Floor Pratham,\nVs.\nCommissioner of Income\nMakrand Desai Road,\nTax\nVadodara, Gujarat - 390007\nCircle-1(2)(1), Vadodara\n(Now DCIT, Circle-\n1(1)(1), Vadodara)\nस्थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AACFJ7207J\n(Appellant)\n(Respondent)\n&\nआयकर अपील सं./I.T.A. Nos.554 & 555/A…

PRATHAM INVESTMENTS,VADODARA, GUJARAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2)(1), VADODARA (NOW DCIT, CIRCLE 1(1)(1)), VADODARA

Accordingly dismissed for both the A.Ys.\n2011-12 & 2014-15.\n11. In effect, both the appeals of the Revenue in ITA Nos.554 &\n555/Ahd/2024 for A.Y. 2011-12 & 2014-15 are dismissed

ITA 572/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad15 May 2025AY 2011-12

For Appellant: \nShri Bhavin Marfatia & Ms. AmrinFor Respondent: \nShri Rignesh Das, CIT. DR & Shri

Section 14ASection 250

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“D” BENCH, AHMEDABAD\nBEFORE: SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER\nAND\nMs. SUCHITRA KAMBLE, JUDICIAL MEMBER\nआयकर अपील सं./I.T.A. Nos.572, 573 & 574/Ahd/2024\n(निर्धारण वर्ष / Assessment Years : 2011-12, 2014-15 & 2015-16)\nPratham Investments\nबनाम /\nThe Deputy\nGround Floor Pratham,\nVs.\nCommissioner of Income\nMakrand Desai Road,\nTax\nVadodara, Gujarat - 390007\nCircle-1(2)(1), Vadodara\n(Now DCIT, Circle-\n1(1)(1), Vadodara)\nस्थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AACFJ7207J\n(Appellant)\n(Respondent)\n&\nआयकर अपील सं./I.T.A. Nos.554 & 555/Ahd/…

DCIT, CIRCLE 1(1)(1) , VADODARA vs. PRATHAM INVESTMENT, VADODARA

ITA 555/AHD/2024[2014-15]Status: DisposedITAT Ahmedabad15 May 2025AY 2014-15

For Appellant: \nShri Bhavin Marfatia & Ms. AmrinFor Respondent: \nShri Rignesh Das, CIT. DR & Shri

Section 14ASection 250

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“D” BENCH, AHMEDABAD\nBEFORE: SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER\nAND\nMs. SUCHITRA KAMBLE, JUDICIAL MEMBER\nआयकर अपील सं./I.T.A. Nos.572, 573 & 574/Ahd/2024\n(निर्धारण वर्ष / Assessment Years : 2011-12, 2014-15 & 2015-16)\nPratham Investments\nबनाम / The\nDeputy\nGround Floor Pratham,\nVs.\nCommissioner of Income\nMakrand Desai Road,\nTax\nVadodara, Gujarat - 390007\nCircle-1(2)(1), Vadodara\n(Now DCIT, Circle-\n1(1)(1), Vadodara)\nस्थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AACFJ7207J\n(Appellant)\n(Respondent)\n&\nआयकर अपील सं./I.T.A. Nos.554 & 555/Ahd/…

DCIT, CIRCLE 1(1)(1), VADODARA vs. PRATHAM INVESTMENT, VADODARA

ITA 554/AHD/2024[2011-12]Status: DisposedITAT Ahmedabad15 May 2025AY 2011-12

For Appellant: \nShri Bhavin Marfatia & Ms. AmrinFor Respondent: \nShri Rignesh Das, CIT. DR & Shri

Section 14ASection 250

…{ "clean_text": "IN THE INCOME TAX APPELLATE TRIBUNAL\n“D” BENCH, AHMEDABAD\nBEFORE: SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER\nAND\nMs. SUCHITRA KAMBLE, JUDICIAL MEMBER\nआयकर अपील सं./I.T.A. Nos.572, 573 & 574/Ahd/2024\n(निर्धारण वर्ष / Assessment Years : 2011-12, 2014-15 & 2015-16)\n\nPratham Investments\nबनाम / The\nDeputy\nGround Floor Pratham,\nVs.\nCommissioner of Income\nMakrand Desai Road,\nTax\nVadodara, Gujarat - 390007\nCircle-1(2)(1), Vadodara\n(Now DCIT, Circle-\n1(1)(1), Vadodara)\nस्थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AACFJ7207J\n(Appellant)\n(Respondent)\n&\nआयकर अपील सं./I.T.A. Nos.554 & 555/Ah…

ACIT, NEW DELHI vs. SHRI BHAWAN MOHAN GARG, NEW DELHI

In the result, the appeal of the revenue is dismissed

ITA 2624/DEL/2017[2011-12]Status: DisposedITAT Delhi13 Aug 2024AY 2011-12

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2011-12 Acit Vs Bhawan Mohan Garg Circle – 32 (1) C-16, Green Park New Delhi Extension, New Delhi Pan No.Aahpg2084K (Appellant) (Respondent)

Section 143(2)Section 143(3)Section 145Section 195Section 40Section 40t

…1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI BEFORE SH. S. RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SH. SUDHIR KUMAR, JUDICIAL MEMBER Assessment Year: 2011-12 ACIT Vs Bhawan Mohan Garg Circle – 32 (1) C-16, Green Park New Delhi Extension, New Delhi PAN No.AAHPG2084K (APPELLANT) (RESPONDENT) Appellants by Sh. Kanv Bali, Sr. DR Respondent by Sh. VK Bindal, CA Sh.Saurabh Sharma, Advocate Ms. Rinki Sharma, ITP Date of hearing: 16/07/2024 Date of Pronouncement: 13/08/2024 ORDER PER SUDHIR KUMAR, JM: This appeal by the revenue is directed against the order of the Commissioner of Income Tax (Ap…

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “A” BENCH: NEW DELHI BEFORE SHRI G.S.PANNU, VICE PRESIDENT & SHRI KUL BHARAT, JUDICIAL MEMBER [Assessment Year : 2007-08] DCIT, vs Ansal Housing & Construction Ltd., Central Circle-20, UGF-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. PAN-AAACA0377R APPELLANT RESPONDENT C.O.No.222/Del/2010 [In ITA No.2731/Del/2010] [Assessment Year : 2007-08] Ansal Housing & Construction Ltd., vs DCIT, UGF-15, Indraprastha Building, 21, Central Circle-20, Barakhamba Road, New Delhi. New Delhi. PAN-AAACA0377R APPELLANT RESPONDENT Appellant by Ms. Kirti Sankratyaya…

TML INDUSTRIES LTD.,VADODARA vs. THE INCOME TAX OFFICER, WARD-2(1)(4), NOW THE DCIT, CIRCLE-2(1)(1), VADODARA

In the result, appeal of the assessee is partly allowed

ITA 14/AHD/2023[2014-15]Status: DisposedITAT Ahmedabad30 May 2024AY 2014-15

Bench: Shri Siddhartha Nautiyal & Shri Narendra Prasad Sinhaassessment Year: 2014-15

Section 1Section 10Section 115JSection 14A

…ITA No.14/Ahd/2023 A.Y. 2014-15 Page 1 of 8 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “D” BENCH, AHMEDABAD BEFORE SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER AND SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER Assessment Year: 2014-15 TML Industries Limited, Income Tax Officer, 601-B Tower Ward – 2(1)(4), Alkapuri Arcade, (Now DCIT, Circle – 2(1)(1)), Vadodara – 390 007. Baroda. Vs. Gujarat [PAN – AABCT 0793 K] (Appellant) (Respondent) Assessee by Shri Vimal Desai, AR Revenue by Shri Pratik Sharma, Sr. DR Date of Hearing 21.05.2024 Date of Pronouncement 30.05.2024 O R D E R PER SIDDHARTHA NAUTIYAL, JUDICIA…

IBM UNITED KINGDOM LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION-CIRCLE-1(2), BANGALORE

ITA 542/BANG/2024[2014-15]Status: DisposedITAT Bangalore20 May 2024AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

…IT(IT)A Nos.487 to 504/Bang/2024 & IT(IT)A Nos.541 to 546/Bang/2024 IBM Canada Limited & Others IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(IT)A Nos.490 & 491/Bang/2024 Assessment Years: 2013-14 & 2016-17 IBM Canada Limited C/o IBM India Private Limited 12, Subramanya Arcade, Bannerghatta Road Dharmaram College SO Bangalore South Bangalore 560 029 Karnataka, India PAN NO : AAFCI9552H APPELLANT Vs. DCIT (International Taxation) Circle-1(2) Bangalore RESPONDENT IT(IT)A Nos.500/Bang/2024 Assessment Years: 20…

IBM CANADA LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, INTERNATIONAL TAXATION, CIRCLE-1(2) , BANGALORE

ITA 491/BANG/2024[2016-17]Status: DisposedITAT Bangalore20 May 2024AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A Nos.490 & 491/Bang/2024

Section 271(1)(c)

…IT(IT)A Nos.487 to 504/Bang/2024 & IT(IT)A Nos.541 to 546/Bang/2024 IBM Canada Limited & Others IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER IT(IT)A Nos.490 & 491/Bang/2024 Assessment Years: 2013-14 & 2016-17 IBM Canada Limited Vs. DCIT (International Taxation) C/o IBM India Private Limited 12, Subramanya Arcade, Bannerghatta Road Dharmaram College SO Bangalore South Bangalore 560 029 Karnataka, India PAN NO: AAFCI9552H APPELLANT Circle-1(2) Bangalore RESPONDENT IT(IT)A Nos.500/Bang/2024 Assessment Years: 2014-15…

ACIT, NEW DELHI vs. M/S. JINDAL POLY FILMS LTD., BULANDSHAHR

In the result, the appeals of assessee for AY 2007-08 is allowed partly and of other years in hand is allowed with consequences to follow as per the determination of issues above and appeals of rev...

ITA 3364/DEL/2016[2007-08]Status: DisposedITAT Delhi26 Mar 2024AY 2007-08

Bench: Shri G.S. Pannu, Vice- & Shri Anubhav Sharma

Section 14ASection 153ASection 250

…THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘H’ NEW DELHI BEFORE SHRI G.S. PANNU, VICE-PRESIDENT AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No. 3364/Del/2016 Assessment Year: 2007-08 ITA No. 3365/Del/2016 Assessment Year: 2008-09 ITA No. 5839/Del/2016 Assessment Year: 2009-10 ACIT, Central Circle-30, Vs. Jindal Poly Films Ltd., 19th Hapur Bulandshahr Road, New Delhi PO: Gulaothi, New Delhi PAN :AAACJ7650E (Appellant) (Respondent) ITA No. 3360/Del/2016 Assessment Year: 2007-08 ITA No. 3361/Del/2016 Assessment Year: 2008-09 ITA No. 5645/Del/2016 Assessment Year: 2009-10 Jindal Poly Films Ltd., Vs. ACIT, Centr…

DDIT (IT) 3(2), MUMBAI vs. THE BANK OF NOVA SCOTIA, MUMBAI

In the result, the appeals of the assessee are partly allowed and appeals of the revenue are also partly allowed

ITA 3828/MUM/2013[2008-09]Status: DisposedITAT Mumbai29 Jan 2024AY 2008-09

Bench: Shri Vikas Awasthy & Shri Amarjit Singhita No.8841/Mum/2010 The Bank Of Nova Scotia Vs. Assistant Director Of Mittal Towers, B Wing Income Tax (It) -3(2) Nariman Point Scindia House Mumbai – 400 020 Ballard Pier Mumbai – 400 038 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacb1536H Appellant .. Respondent It(Tp)A. No.3862/Mum/2013 The Bank Of Nova Scotia Vs. Additional Director Of Mittal Towers, B Wing Income Tax (It) -3 Nariman Point Air India Building Mumbai – 400 020 Nariman Point Mumbai – 400 021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No:Aaacb1536H Appellant .. Respondent Ita.No.3989/Mum/2012 Deputy Director Of Income Vs. M/S The Bank Of Nova Tax (It) -3(2) Scotia, Mittal Towers, B Scindia House Wing, Nariman Point Ballard Pier, N. M. Road Mumbai – 400 021 Mumbai – 400 038

For Appellant: Nishant Thakkar &For Respondent: Anil Sant

Section 143(2)Section 14ASection 92C(2)

…P a g e | 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.8841/Mum/2010 The Bank of Nova Scotia Vs. Assistant Director of Mittal Towers, B Wing Income Tax (IT) -3(2) Nariman Point Scindia House Mumbai – 400 020 Ballard Pier Mumbai – 400 038 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACB1536H Appellant .. Respondent IT(TP)A. No.3862/Mum/2013 The Bank of Nova Scotia Vs. Additional Director of Mittal Towers, B Wing Income Tax (IT) -3 Nariman Point Air India Buildi…

THE BANK OF NOVA SCOTIA,MUMBAI vs. ADIT (IT) 3(2), MUMBAI

In the result, the appeals of the assessee are partly allowed and

ITA 8841/MUM/2010[2006-07]Status: DisposedITAT Mumbai29 Jan 2024AY 2006-07

Bench: Shri Vikas Awasthy & Shri Amarjit Singh

For Appellant: Nishant Thakkar &For Respondent: Anil Sant

Section 143(2)Section 14ASection 92C(2)

…Page 1 11 Appeals The Bank of Novascotia Vs. ADIT(IT) 3(2) IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER ITA No.4941/Mum/2007 ITA No.8841/Mum/2010 ITA No.5740/Mum/2011 (A.YS. 2003-04, 2005-06 & 2006-07) The Bank of Nova Scotia Vs. Assistant Director of Mittal Towers, B Wing Nariman Point Mumbai – 400 020 Income Tax (IT) -3(2) Scindia House Ballard Pier Mumbai 400 038 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACB1536H Appellant Respondent ITA No.4036/Mum/2012 IT(TP)A. No.3862/Mum/2013 ITA No.4980/Mum/2017 (Α.Υ.2007-08 to 200…

AARTI SPONGE AND POWER LTD.,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, -1(1), RAIPUR, RAIPUR

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 70/RPR/2023[2013-14]Status: DisposedITAT Raipur20 Sept 2023AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं./Ita No.70/Rpr/2023 िनधा"रण वष" /Assessment Year: 2013-14 V. Aarti Sponge & Power Ltd. Acit -1 (1) Aarti House, Ashoka Ratna Shankar Raipur Nagar, Raipur, Chhattisgarh – 492 001

For Respondent: Sr. D.R

Section 143(3)Section 14ASection 250

…made of Rs. 111.09 crore.  JCIT vs Beekay Engineering Corporation (2010) 325 ITR 384 (Chhattisgarh)  DCIT vs Hero Moto Corp. Ltd. (2015) 43 CCH 0274 (Del Trib.), relying upon CIT vs HDFC Bank Ltd. (2014) 366 ITR 505 (Bom.).  In CIT vs UTI Bank Ltd. (2013) 32 Taxmann.com 370 (Guj.), it was held that if an assessee has sufficient interest free funds, it should be presumed that such investments were made from interest free funds, thereby not justifying disallowance u/s 14A.  Godawari Power & Ispat Ltd. In ITA no. 365/RPR/2014 dt. 01.10.2018 of Raipur Bench of ITAT. In the above case, vide para 54 to 58, it was…

DY CIT-1(3)(2), MUMBAI vs. MAHARASHTRA STATE CO-OPERATIVE BANK LIMITED, MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

ITA 3916/MUM/2019[2013-14]Status: DisposedITAT Mumbai21 Aug 2023AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

For Appellant: Mr. Sushil LakhaniFor Respondent: Mrs. Riddhi Mishra, CIT-DR

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

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI SANDEEP SINGH KARHAIL (JUDICIAL MEMBER) Assessment Year: 2013-14 M/s The Maharashtra State Co op. ITO-1(3)(3), Bank Ltd., Aayakar Bhavan, 9, Sir Vithaldas Thackersey Memorial Vs. M.K. Road, Bldg. Maharashtra Chamber of Mumbai-400020. Commerce Lane, Fort, Mumbai-400001. PAN No. AAAAT 4066 A Appellant Respondent Assessment Year: 2013-14 Dy. CIT-1(3)(2), M/s The Maharashtra State Co op. Room No. 540, 5th floor, Bank Ltd., Vs. Aayakar Bhavan, M.K. Road, 9, Sir Vithaldas Thackersey Mumbai-400020. Mem…

M/S THE MAHARASHTRA STATE CO. OP BANK LTD.,MUMBAI vs. ITO-1(3)(3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

ITA 3878/MUM/2019[2013-14]Status: DisposedITAT Mumbai21 Aug 2023AY 2013-14

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

For Appellant: Mr. Sushil LakhaniFor Respondent: Mrs. Riddhi Mishra, CIT-DR

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

ADIT (I.T)-3(2), MUMBAI vs. M/S. THE BANK OF NOVA SCOTIA, MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 651/MUM/2007[2002-2003]Status: DisposedITAT Mumbai21 Apr 2023AY 2002-2003

Bench: Shri Vikas Awasthy& Shri Amarjit Singh आअसं.6818/मुं/2006 ("न.व. 2002-03) The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Deputy Director Of Income Tax (International Taxation)-3(2), Scindia House, Ballard Pier, Mumbai 400 038. ..... ""तवाद"/Respondent आअसं.651/मुं/2007 ("न.व. 2002-03) Adit(It)-3(2),Mumbai R. No.132, 1St Floor, N.M.Road, Mumbai – 400 038. ...... अपीलाथ"/Appellant बनाम Vs. The Bank Of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. Pan: Aaacb-1536-H ..... ""तवाद"/Respondent

For Appellant: Shri Nishant Thakkar with Ms. Jasmin AmasadvalaFor Respondent: Shri Soumendu Kumar Dash

Section 14ASection 36(1)(vii)Section 40Section 44C

…आयकर अपील"य अ"धकरण मुंबई पीठ “ आई ”,मुंबई "ी "वकास अव"थी, "या"यक सद"य एवं "ी अमरजीत "संह, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “ I ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER& SHRI AMARJIT SINGH , ACCOUNTANT MEMBER आअसं.6818/मुं/2006 ("न.व. 2002-03) The Bank of Nova Scotia, Mittal Towers, B-Wing, Nariman Point, Mumbai 400 020. PAN: AAACB-1536-H ...... अपीलाथ"/Appellant बनाम Vs. Deputy Director of Income Tax (International Taxation)-3(2), Scindia House, Ballard Pier, Mumbai 400 038. ..... ""तवाद"/Respondent आअसं.651/मुं/2007 ("न.व. 2002-03) ADIT(IT)-3(2),Mumbai R. No.132…

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