Commissioner of Income Tax v. Deogiri Nagari Sahakari Bank Ltd.

379 ITR 24High Court2015#3915 most cited

What is Commissioner of Income Tax v. Deogiri Nagari Sahakari Bank Ltd. authority for?

Interest income on non-performing assets (NPAs) not recognized as per RBI guidelines cannot be taxed, especially when specific provisions like Section 43D and Rule 6EA are considered.

30

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

Deogiri Nagari Sahakari Bank Ltd. · 379 ITR 24 · Section 43D · Rule 6EA · RBI guidelines · NPA · interest income · taxation of interest

Sections most often in play

Section 37(1)Section 115JBSection 145Section 14ASection 250Section 36(1)(iii)Section 40(a)(ia)Section 43B

Issues it is cited on

section 40a(ia)icdslive linksection 36(1)(iii)section 115jsection 40(a)section 40(a)(ia)disallowance under section 14adisallowance u/s 14arevenue expendituresection 115jbsection 145

Judgments citing Commissioner of Income Tax v. Deogiri Nagari Sahakari Bank Ltd.

Mumbai District Central Co Op Bank Ltd, Mumbai vs. DCIT 1(3), Mumbai

In the result, appeal of the assessee is treated as allowed for statistical purposes

ITA 6538/MUM/2016[2011-12]Status: DisposedITAT Mumbai26 Sept 2018AY 2011-12

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2011-12

For Appellant: Shri Ajay SinghFor Respondent: Shri Chaitanya Anjaria
Section 143(3)Section 43D

…interference in the order of CIT(A). Mumbai District Central Co-op. Bank Ltd. 6. Apart therefrom, the learned representative for the assessee pointed out that the Hon'ble Bombay High Court in the case of CIT vs M/s. Deogiri Nagari Sahakari Bank Ltd. & Ors., 379 ITR 24 (Bom.), has considered an identical situation and held that in the case of a co-operative bank, the prudential norms issued by the RBI are applicable and interest on sticky advances identified in terms of such prudential norms is not taxable on mere mercantile basis. The Hon'ble Karnataka High Court in the case of CIT(A) vs Bijapur District Centra…

Assistant Commissioner of Income-Tax vs. The Laxmi Co-Op. Bank Ltd

In the result, the appeal of Revenue is dismissed

ITA 1238/PUN/2016[2012-13]Status: DisposedITAT Pune17 Aug 2018AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1238/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-2, Solapur …. Vs. The Laxmi Co-Operative Bank Ltd., 319, South Kasba, …. प्रत्यथी / Respondent Solapur Pan: Aaaat3138G

For Appellant: Shri Ashok BabuFor Respondent: Shri S.N. Doshi
Section 143(3)Section 43DSection 5

…raised in ground of appeal No.1 i.e. deletion of addition made on account of accrued interest on NPAs under section 43D of the Act is squarely covered by the ratio laid down by the Hon’ble Bombay High Court in CIT Vs. Deogiri Nagari Sahakari Bank Ltd. (2015) 379 ITR 24 (Bom). 4. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of Assessing Officer. 5. We find that similar issue as before us arose in bunch of appeals with the lead order in ITA No.1641/PN/2014 in the case of JCIT Vs. M/s. Peoples Co-operative Bank Ltd., relating to assessment year 2011-12 vi…

Shivprabha Nagar Sahakar Pathsanstha Ltd., Solapur vs. Additional Commissioner of Income-Tax

In the result, the appeal of assessee is partly allowed in the terms of aforesaid

ITA 2321/PUN/2016[2007-08]Status: DisposedITAT Pune14 Aug 2018AY 2007-08

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri Pramod ShingteFor Respondent: Shri M.K. Verma

…ion on account of accrued interest on NPAs, the ld. AR submitted that the issue is covered in favour of the assessee, by the decision of Hon’ble Bombay High Court in the case of Commissioner of Income Tax Vs. M/s. Deogiri Nagari Sahakari Bank Ltd. reported as 379 ITR 24. The ld. AR submitted that the Co-ordinate Bench of the Tribunal in the case of Income Tax Officer Vs. Mahesh Nagari Sahakari Pat Sanstha Ltd. in ITA No. 1874/PN/2012 for 3 ITA No. 2321/PUN/2016, A.Y. 2007-08 assessment year 2009-10 decided on 25-03-2014 deleted the addition made on account of accrued interest on NPAs. 4. On the other hand Mrs.…

Assistant Commissioner of Income-Tax vs. Lokmangal Co-Op. Bank Ltd., Solapur

In the result, both the appeals of Revenue are dismissed

ITA 1422/PUN/2016[2012-13]Status: DisposedITAT Pune27 Jul 2018AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1420/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-1, Solapur …. Vs. Ratanchand Shah Sahakari Bank Ltd., Bazar Peth, Mangalwedha, …. प्रत्यथी / Respondent Dist. Solapur Pan: Aaaat3135A आयकर अपीऱ सं. / Ita No.1422/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-2, Solapur …. Vs. Lokmangal Co-Operative Bank Ltd., 193, Gold Finch Peth, Rukmini Complex, Savarkar Maidan, …. प्रत्यथी / Respondent Solapur – 413007 Pan: Aaaal0119J

For Appellant: Shri Ajay ModiFor Respondent: Shri S.N. Puranik
Section 143(3)Section 43DSection 5

…14), (2) Peoples Co-operative Bank Ltd. (Income Tax Appeal No.54 of 2014), (3) Nanded District Central Co-op. Bank Ltd. (Income Tax Appeal No.57 and 58 of 2014) and (4) Vasantadada Nagari Sahakari Bank Ltd. (Income Tax Appeal No.68 of 2014) reported in (2015) 379 ITR 24 (Bom). 6. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of Assessing Officer. 7. We find that similar issue as before us arose in bunch of appeals including the appeal of Revenue against the assessee relating to assessment year 2011-12, wherein the Tribunal in turn relied on earlier decis…

Assistant Commissioner of Income-Tax vs. Ratanchand Shah Sahakari Bank Ltd., Solapur

In the result, both the appeals of Revenue are dismissed

ITA 1420/PUN/2016[2012-13]Status: DisposedITAT Pune27 Jul 2018AY 2012-13

Bench: Ms. Sushma Chowla, Jm & Shri Anil Chaturvedi, Am आयकर अपीऱ सं. / Ita No.1420/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-1, Solapur …. Vs. Ratanchand Shah Sahakari Bank Ltd., Bazar Peth, Mangalwedha, …. प्रत्यथी / Respondent Dist. Solapur Pan: Aaaat3135A आयकर अपीऱ सं. / Ita No.1422/Pun/2016 यििाारण वषा / Assessment Year : 2012-13 The Asst. Commissioner Of Income Tax, अऩीऱाथी/Appellant Circle-2, Solapur …. Vs. Lokmangal Co-Operative Bank Ltd., 193, Gold Finch Peth, Rukmini Complex, Savarkar Maidan, …. प्रत्यथी / Respondent Solapur – 413007 Pan: Aaaal0119J

For Appellant: Shri Ajay ModiFor Respondent: Shri S.N. Puranik
Section 143(3)Section 43DSection 5

…14), (2) Peoples Co-operative Bank Ltd. (Income Tax Appeal No.54 of 2014), (3) Nanded District Central Co-op. Bank Ltd. (Income Tax Appeal No.57 and 58 of 2014) and (4) Vasantadada Nagari Sahakari Bank Ltd. (Income Tax Appeal No.68 of 2014) reported in (2015) 379 ITR 24 (Bom). 6. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the order of Assessing Officer. 7. We find that similar issue as before us arose in bunch of appeals including the appeal of Revenue against the assessee relating to assessment year 2011-12, wherein the Tribunal in turn relied on earlier decis…

Assistant Commissioner of Income-Tax vs. Shri Anand Co-Op. Bank Ltd., Pune

In the result, appeal by the Revenue and cross objections filed by the assessee are dismissed

ITA 1299/PUN/2016[2012-13]Status: DisposedITAT Pune28 Mar 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: N O N EFor Respondent: Shri Mukesh Jha
Section 145Section 43D

…2-13 first appeal, the Commissioner of Income Tax (Appeals) deleted the aforesaid addition by placing reliance on the decision of Hon’ble Bombay High Court in the case of Commissioner of Income Tax Vs. Deogiri Nagari Sahakari Bank Ltd. and others reported as 379 ITR 24 and the order of Tribunal in assessee’s own case for assessment year 2010-11. The ld. DR submitted that the assessee is following mercantile system of accounting. As per provisions of section 145 of the Act, the assessee has to follow either mercantile system or cash system of accounting. The assessee cannot adopt mix system of accounting. The ld.…

Assistant Commissioner of Income-Tax vs. Sharad Sahakari Bank Ltd., Pune

In the result, appeal by the Revenue and cross objections filed by the assessee are dismissed

ITA 1046/PUN/2016[2012-13]Status: DisposedITAT Pune28 Feb 2018AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri M.K. KulkarniFor Respondent: Shri Mukesh Jha

…nate Bench granted relief to the assessee by following the decision of Hon’ble Bombay High Court in the case of Commissioner of Income Tax Vs. Deogiri Nagari Sahakari Bank Ltd. and others reported as 4 ITA No. 1046/PUN/2016 & CO No. 06/PUN/2018, A.Y. 2012-13 379 ITR 24 wherein the judgment of Hon’ble Apex Court in the case of Southern Technologies Ltd. Vs. Joint Commissioner of Income Tax (supra) has been considered and distinguished on facts. The relevant extract of the findings of Tribunal in assessee’s own in assessment year 2010-11 are as under : “9. We have considered the rival arguments made by both the si…

Tiruchirapalli District Central Co-Operative Bank Ltd., Chennai vs. ACIT, Trichy

ITA 834/CHNY/2013[2009-10]Status: DisposedITAT Chennai03 Mar 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Tiruchirapalli District Central The Assistant Commissioner Of Co-Operative Bank Ltd., V. Income Tax, C/O Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1St Avenue, Indira Nagar, Adyar, Chennai - 600 020. Pan : Aaaat 5036 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 143(3)Section 263Section 36(1)(ii)Section 36(1)(viia)Section 37(1)Section 43DSection 45Q

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई ["श"वर: मदुरै] IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI [CAMP: MADURAI] "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/s Tiruchirapalli District Central The Assistant Commissioner of Co-operative Bank Ltd., v. Income Tax, C/o Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1st Avenue, Indira Nagar, A…

Tiruchirapalli District Central Co-Operative Bank Ltd., Chennai vs. ACIT, Trichy

ITA 833/CHNY/2013[2008-09]Status: DisposedITAT Chennai03 Mar 2017AY 2008-09

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Tiruchirapalli District Central The Assistant Commissioner Of Co-Operative Bank Ltd., V. Income Tax, C/O Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1St Avenue, Indira Nagar, Adyar, Chennai - 600 020. Pan : Aaaat 5036 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 143(3)Section 263Section 36(1)(ii)Section 36(1)(viia)Section 37(1)Section 43DSection 45Q

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई ["श"वर: मदुरै] IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI [CAMP: MADURAI] "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/s Tiruchirapalli District Central The Assistant Commissioner of Co-operative Bank Ltd., v. Income Tax, C/o Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1st Avenue, Indira Nagar, A…

Tiruchirapalli District Central Co-Operative Bank Ltd., Chennai vs. ACIT, Trichy

ITA 832/CHNY/2013[2007-08]Status: DisposedITAT Chennai03 Mar 2017AY 2007-08

Bench: Shri N.R.S. Ganesan & Shri Abraham P. Georgeआयकर अपील सं./Ita Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/S Tiruchirapalli District Central The Assistant Commissioner Of Co-Operative Bank Ltd., V. Income Tax, C/O Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1St Avenue, Indira Nagar, Adyar, Chennai - 600 020. Pan : Aaaat 5036 C (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Sh. Pathlavath Peerya, CIT
Section 143(3)Section 263Section 36(1)(ii)Section 36(1)(viia)Section 37(1)Section 43DSection 45Q

…आयकर अपील"य अ"धकरण, ’डी’ "यायपीठ, चे"नई ["श"वर: मदुरै] IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI [CAMP: MADURAI] "ी एन.आर.एस. गणेशन, "या"यक सद"य एवं "ी अ"ाहम पी.जॉज", लेखा सद"य केसम" BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.832, 833 & 834/Mds/2013 "नधा"रण वष" / Assessment Years : 2007-08, 2008-09 & 2009-10 M/s Tiruchirapalli District Central The Assistant Commissioner of Co-operative Bank Ltd., v. Income Tax, C/o Shri S. Sridhar, Advocate, Circle I(1), New No.14, Old No.82, Flat No.5, Tiruchirapalli. 1st Avenue, Indira Nagar, A…