DCIT v. Oman International Bank SAOG

100 ITD 285Income Tax Appellate Tribunal2006#8674 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2025.

Sections most often in play

Section 143(3)Section 80-IASection 92CSection 92CASection 92FSection 10BSection 144BSection 144C

Issues it is cited on

section 92f(ii)section 92basection 43asection 92fsection 92ca(1)section 144c(3)specified domestic transactionarms length pricesection 92bcup methodeligible businessarm's length price

Judgments citing DCIT v. Oman International Bank SAOG

ASSISTANT COMMISSIONER OF INCOME TAX, TIRUPUR vs. SRI SHANMUGAVEL MILLS PRIVATE LIMITED, TIRUPUR

In the result, appeal filed by the Revenue is dismissed

ITA 1048/CHNY/2025[2017]Status: DisposedITAT Chennai24 Oct 2025

Bench: Shri Aby T. Varkey & Shri Amitabh Shukla

For Appellant: Mr.Suraj Nahar, CAFor Respondent: Mr.Saddik Ahmed, Sr.AR
Section 143(3)Section 80ISection 92C

…आयकर अपीलीय अिधकरण, ’डी’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी अिमताभ शु"ा, लेखा सद" के सम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI AMITABH SHUKLA, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1048/Chny/2025 िनधा"रण वष"/Assessment Year: 2017-18 v. The ACIT, Sri Shanmugavel – Circle-1, Mills Pvt. Ltd., Tirupur-641 602. 207/86, Mangalam Road, Karuvampalayam, Tirupur-641 604. [PAN: AADCS 8200 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) Department by : Mr.Saddik Ahmed, Sr.AR Assessee by : Mr.Suraj Nahar, CA : सुनवाईक"तारीख/Date of…

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,TIRUPPUR, TIRUPPUR vs. PRABHU SPINNING MILLS PRIVATE LIMITED, TIRUPPUR

ITA 435/CHNY/2025[2017-18]Status: DisposedITAT Chennai13 Aug 2025AY 2017-18

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:433 & 435/Chny/2025 निर्धारण वर्ष / Assessment Year: 2018-19 & 2017-18 Acit, Circle -1 121, Adarns Plaza, 60, Feet Road, Tiruppur - 641 602. (अपीलार्थी/Appellant) Vs. Prabhu Spining Mills Private Limited, No. 207 – 86, Mangalam Road, Karuvampalayam, Tiruppur – 641 604. Tamil Nadu. [Pan:Aabcp-0750-E] (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/Appellant By : Shri. Arv Sreenivasan, Cit प्रत्यर्थी की ओर से/Respondent By : Shri. T. Banusekar, Advocate. सुनवाई की तारीख/Date Of Hearing : 16.07.2025 घोषणा की तारीख/Date Of Pronouncement : 13.08.2025 Per S. R. Raghunatha, Am : आदेश /Order These Two Appeals Filed By The Revenue Are Directed Against Separate Orders Passed By The Learned Commissioner Of Income Tax (Appeals), Chennai-16 (In Short “Id.Cit(A)”) Dated 04.10.2024 For Assessment Years 2017-18 & 2018-19 Respectively. Since Facts Are Identical & Issues Are Common, For The Sake Of Convenience, These Appeals By The Revenue Are Being Heard Together & Disposed Of By This Consolidated Order. 2. The Appeal Of The Revenue For The Assessment Year 2017-18 Is Taken As The Lead Appeal For Adjudication Of The Issues Involved. The Only Issue Which Has Been Raised In Appeal By The Revenue Is With Regard To Determination Of Quantum Of Deduction U/S.80-Ia Of The Income Tax Act, 1961 (In Short "The Act"). :-2-:

For Appellant: Shri. ARV Sreenivasan, CITFor Respondent: Shri. T. Banusekar, Advocate
Section 143(3)Section 80Section 92C

…'ble Third Member of the Income Tax Appellate Tribunal, Ahmedabad Bench in Kanel Oil & Exports Inds. Ltd v JCIT [2009] 121 ITD 596 (Ahd)(TM) g) Mumbai Special Bench of the Hon'ble Income Tax Appellate Tribunal has in DCIT v Oman International Bank SAOG [2006] 100 ITD 285 (Mum)(SB) 27. The Ld.AR concluded based on the above this Tribunal is bound to follow the decision of the Hon'ble Calcutta High Court in Star Paper Mills Ltd. referred to supra and all other High Court decisions following Star Paper Mills Ltd. which is a higher judicial forum than that of the Tribunal and also that this Tribunal cannot declare th…

ASSISTANT COMMISSIONER OF INCOME TAX, TIRUPPUR vs. PRABHU SPINNING MILLS PRIVATE LIMITED, TIRUPPUR

In the result all the grounds raised by the revenue for the A

ITA 433/CHNY/2025[2018-19]Status: DisposedITAT Chennai13 Aug 2025AY 2018-19

Bench: Shri George George K & Shri S.R. Raghunathaआयकर अपील सं./Ita Nos.:433 & 435/Chny/2025 धनिाजरण वर्ज / Assessment Year: 2018-19 & 2017-18 Acit, Circle -1 Prabhu Spining Mills Private 121, Adarns Plaza, Vs. Limited, 60, Feet Road, No. 207 – 86, Mangalam Road, Tiruppur – 641 602. Karuvampalayam, Tiruppur – 641 604. Tamil Nadu. (अपीलाथी/Appellant) [Pan:Aabcp-0750-E] (प्रत्यथी/Respondent) अपीलाथी की ओर से/Appellant By : Shri. Arv Sreenivasan, Cit प्रत्यथी की ओर से/Respondent By : Shri. T. Banusekar, Advocate. सुनवाई की तारीख/Date Of Hearing : 16.07.2025 घोर्णा की तारीख/Date Of Pronouncement : 13.08.2025

For Appellant: Shri. ARV Sreenivasan, CITFor Respondent: Shri. T. Banusekar, Advocate
Section 143(3)Section 80Section 92C

…’ble Third Member of the Income Tax Appellate Tribunal, Ahmedabad Bench in Kanel Oil & Exports Inds. Ltd v JCIT [2009] 121 ITD 596 (Ahd)(TM) g) Mumbai Special Bench of the Hon’ble Income Tax Appellate Tribunal has in DCIT v Oman International Bank SAOG [2006] 100 ITD 285 (Mum)(SB) 27. The Ld.AR concluded based on the above this Tribunal is bound to follow the decision of the Hon’ble Calcutta High Court in Star Paper Mills Ltd. referred to supra and all other High Court decisions following Star Paper Mills Ltd. which is a higher judicial forum than that of the Tribunal and also that this Tribunal cannot declare t…

M/S. ICICI BANK LTD ( ERSTWHILE ICICI LTD),MUMBAI vs. THE DY CIT RG 3(1), MUMBAI

In the result, both the appeals are partly allowed

ITA 7589/MUM/2007[2001-2002]Status: DisposedITAT Mumbai27 Apr 2023AY 2001-2002
For Appellant: Ms. Aarti VissanjiFor Respondent: Shri K.C. Selvamani
Section 10Section 115JSection 143(2)Section 143(3)Section 14ASection 88

…only for the debts actually written off as bad in the books of accounts of the Assessee. The CIT(A) had granted relief to the Assessee by placing reliance upon the decision of the Special Bench of the Tribunal in the case of DCIT vs. Oman International Bank: 100 ITD 285 wherein it was held that after its amendment in Section 36(1)(vii) of the Act, with effect from 01/04/1989, it ITA. No. 7589 & 7508/Mum/2007 Assessment Year: 2001-02 was not obligatory on part of an assessee to prove that debt written off by him is indeed a bad debt for purpose of allowance under section 36(1)(vii) provided the same has been actu…

THE DCIT CIR 7(1), MUMBAI vs. M/S. PIRAMAL ENTERPRISES LTD., MUMBAI

In the result, appeal of the assessee in ITA

ITA 4345/MUM/2007[2003-2004]Status: DisposedITAT Mumbai05 Oct 2021AY 2003-2004

Bench: Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) Dcit. Circle 7(1), Vs. M/S. Piramal Enterprises Ltd. Aayakar Bhavan (Formerly Known As Piramal Healthcare Mumbai - 400020 Ltd.,) (Before Known As Nicholas Piramal India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Ltd. Vs. Deputy Commissioner Of Income (Formerly Known As Piramal Tax Healthcare Ltd.,) Range 7(3)(2), (Before Known As Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 Pan/Gir No.Aaacn4538P (Appellant) .. (Respondent) M/S. Piramal Enterprises Limited

Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘B‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER M/s. Piramal Enterprises Ltd. Vs. Addl. Commissioner of Income (Formerly known as Piramal Tax Healthcare Ltd.,) Circle 7(1), Aayakar Bhavan (Before known as Nicholas Piramal Mumbai - 400020 India Ltd.,) Piramal Tower, Ganpatrao Kadam Marg Lower Parel, Mumbai-400013 PAN/GIR No.AAACN4538P (Appellant) .. (Respondent) DCIT. Circle 7(1), Vs. M/s. Piramal Enterprises Ltd. Aayakar Bhavan (Formerly known as Piramal Healthcare Mumbai - 400020 Ltd.,) (Before known as Nicholas Piramal…

M/S. INDUSTRIAL DEVELOP,MENT BANK OF INDIA,MUMBAI vs. THE DY CIT RG 3(1), MUMBAI

ITA 3371/MUM/2004[1998-1999]Status: DisposedITAT Mumbai02 Jan 2020AY 1998-1999

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am Aayakr Apila Sam./ Ita No. 3371/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 1998-99) Aayakr Apila Sam./ Ita No. 3372/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 1999-00) Aayakr Apila Sam./ Ita No. 3373/Mum/2004 (Inaqa-Arna Baya- / Assessment Year 2000-01) Industrial Development Bank Of The Dy. Commissioner Of Income India, Taxation Cell, 3 Rd Floor, Tax, Range 3(1), 6 Th Floor, Room Vs. Idbi Tower, Wtc Complex, No. 623, Aayakar Bhavan, M.K. Cuffe Parade, Mumbai-400 005 Road, Mumbai-400 020 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थामी रेखा िं./Pan No. Aaaci1105R Aayakr Apila Sam./ Ita No. 4744/Mum/2005 (Inaqa-Arna Baya- / Assessment Year 2001-02) Aayakr Apila Sam./ Ita No. 5962/Mum/2008 (Inaqa-Arna Baya- / Assessment Year 2002-03) Aayakr Apila Sam./ Ita No. 3907/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2003-04) Aayakr Apila Sam./ Ita No. 3908/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2004-05) Aayakr Apila Sam./ Ita No. 3909/Mum/2009 (Inaqa-Arna Baya- / Assessment Year 2005-06) Aayakr Apila Sam./ Ita No. 2488/Mum/2010 (Inaqa-Arna Baya- / Assessment Year 2006-07) Aayakr Apila Sam./ Ita No. 13/Mum/2011

Section 143(3)

…आयकर अपीऱीय अधिकरण “C” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI श्री भहावीय स िंह, न्मायमक दस्म एविं श्री याजेश कुभाय रेखा दस्म के भक्ष। BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3371/Mum/2004 (inaQa-arNa baYa- / Assessment Year 1998-99) Aayakr ApIla saM./ ITA No. 3372/Mum/2004 (inaQa-arNa baYa- / Assessment Year 1999-00) Aayakr ApIla saM./ ITA No. 3373/Mum/2004 (inaQa-arNa baYa- / Assessment Year 2000-01) Industrial Development Bank of The Dy. Commissioner of Income India, Taxation Cell, 3 rd Floor, Tax, Range 3(1), 6 th Floor, room Vs. ID…

M/S. UMA VIR INFRASTRUCTURE,AHMEDABAD vs. THE ACIT.,CENT.CIRCLE-1(1),, AHMEDABAD

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

ITA 1377/AHD/2013[2010-11]Status: DisposedITAT Ahmedabad01 Oct 2019AY 2010-11

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No. 1377/Ahd/2013 "नधा"रण वष"/Asstt. Year: 2010-2011 Uma Vir Infrastructure The A.C.I.T 6, Vishwas Residency, Vs. Central Circle-1(1) B/H. Hitarth Partly Plot, Ahmedabad. Science City Road, Sola, Ahmedabad. Pan: Aanfm0042M

For Respondent: Shri O.P. Sharma, CIT. D.R

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ C’’ BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 1377/AHD/2013 "नधा"रण वष"/Asstt. Year: 2010-2011 Uma Vir Infrastructure The A.C.I.T 6, Vishwas Residency, Vs. Central Circle-1(1) B/h. Hitarth Partly Plot, Ahmedabad. Science City Road, Sola, Ahmedabad. PAN: AANFM0042M (Applicant) (Respondent) : Assessee by Shri D.K. Parikh, A.R Revenue by : Shri O.P. Sharma, CIT. D.R सुनवाई क" तार"ख/Date of Hearing : 19/08/2019 घोषणा क" तार"ख /Date of Pronouncement: 01/10/201…

SRI DILIP KUMAR DAS,KOLKATA vs. ITO, WD-50(1), KOLKATA, KOLKATA

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

ITA 640/KOL/2016[2009-2010]Status: DisposedITAT Kolkata31 Jan 2018AY 2009-2010

Bench: Hon’Ble Shri Waseem Ahmed, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 473 & 640/Kol/2016 Assessment Years : 2008-09 & 2009-10 Shri Dilip Kumar Das -Vs- Ito, Ward-50(1), Kolkata [Pan: Adspd 7417 P] (Appellant) (Respondent)

For Appellant: Shri A. Kochar, AdvocateFor Respondent: Shri Arindam Bhattacharjee, Addl.CIT
Section 143(3)Section 144

…he case of Smt. Renu Agarwal is at par with the any Special Bench decision of the ITAT as held by the Delhi High Court in the case of P.C.Puri vs. CIT(1985) 151 ITR 584 (Delhi) and also by the ITAT Mumbai in the case of DCIT vs. Oman International Bank (2006) 100 ITD 285(Mum) (SB) in para 40-44. In view of the above, the addition is confirmed as above and to this extent the decision of the AO is modified.” Being aggrieved by the order of Ld. CIT(A) the assessee is in second appeal before us. 8. The Ld. AR before us submitted that there were regular cash deposits and cash withdrawals and therefore peak credit the…

SRI DILIP KUMAR DAS,KOLKATA vs. ITO, WD-50(1), KOLKATA, KOLKATA

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

ITA 473/KOL/2016[2008-09]Status: DisposedITAT Kolkata31 Jan 2018AY 2008-09

Bench: Hon’Ble Shri Waseem Ahmed, Am & Hon’Ble Shri S.S.Viswanethra Ravi, Jm] I.T.A Nos. 473 & 640/Kol/2016 Assessment Years : 2008-09 & 2009-10 Shri Dilip Kumar Das -Vs- Ito, Ward-50(1), Kolkata [Pan: Adspd 7417 P] (Appellant) (Respondent)

For Appellant: Shri A. Kochar, AdvocateFor Respondent: Shri Arindam Bhattacharjee, Addl.CIT
Section 143(3)Section 144

…he case of Smt. Renu Agarwal is at par with the any Special Bench decision of the ITAT as held by the Delhi High Court in the case of P.C.Puri vs. CIT(1985) 151 ITR 584 (Delhi) and also by the ITAT Mumbai in the case of DCIT vs. Oman International Bank (2006) 100 ITD 285(Mum) (SB) in para 40-44. In view of the above, the addition is confirmed as above and to this extent the decision of the AO is modified.” Being aggrieved by the order of Ld. CIT(A) the assessee is in second appeal before us. 8. The Ld. AR before us submitted that there were regular cash deposits and cash withdrawals and therefore peak credit the…

ACIT 4(2), MUMBAI vs. FIRMENICH AROMATICS (I) P. TLD, MUMBAI

In the result, departmental ground no

ITA 3744/MUM/2011[2006-07]Status: DisposedITAT Mumbai24 Apr 2017AY 2006-07

Bench: Shri Dt Garasia, Jm & Shri Rajesh Kumar, Am

For Appellant: Shri Vipul JoshiFor Respondent: Mrs. Puja Swaroop
Section 145Section 145(3)Section 40A

…he appeal of the assessee. 36. The Ld. AR submitted that the issue and controversy is covered by the decision of Supreme Court in case of TRF Ltd. Vs. CIT and the decision of Special Bench in case of Dy. Commissioner of Income Tax Vs. Oman International Bank 100 ITD 285. 37. We have heard the rival contention of both the parties looking to the facts and circumstances of the case we find that the issue and controversy is covered by the decision of Hon’ble Supreme Court in case of TRF Ltd. Vs. CIT. The Supreme Court has held that it is not necessary for the assessee to establish that the debt in fact has become ir…

M/S. HI- TECH ELECTROTHERMICS & HYDROPOWER LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal filed by the assessee stands allowed

ITA 6080/DEL/2013[2007-08]Status: DisposedITAT Delhi04 Aug 2016AY 2007-08

Bench: Shri S. V. Mehrotra & Smt. Beena A. Pillai

For Appellant: Shri V.K. Jian, CAFor Respondent: Shri A. K. Saroha, CIT, DR
Section 143(2)Section 250Section 41

…ious year. The Assessing Officer cannot insist the assessee to prove the authenticity of circumstances leading to write off the bad debts. Reliance has been placed on the decision of Hon'ble High Court in the case of DIT Vs Oman International Bank reported in 100 ITD 285. The assessee has furnished the details of financial year in which write off of bad debts were taken into account in computation of income. The assessee has also placed reliance upon the decision of Hon'ble Supreme Court in the case of TRF Ltd. Vs CIT reported in 323 ITR 397. Respectfully following the ratio laid down in the decisions cited above…

MANISHA BIPIN BHINSARA,MUMBAI vs. ITO WD 25(2)(2), MUMBAI

In the result, the appeal filed by the assessee in ITA N0

ITA 4512/MUM/2015[2009-10]Status: DisposedITAT Mumbai18 May 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4512/Mum/2015 ("नधा"रण वष" / Assessment Year : 2009-10) Mrs. Manisha Bipin The Income Tax Officer- बनाम/ Bhinsara, Ward 25(2)(2), V. 501/A, Yogi Ratna, Bandra Kurla Complex, Opp Mogaveera Bank, Mumbai – 400 051. Eksar Road, Borivali (West), Mumbai – 400 092. "थायी लेखा सं./Pan : Amlpb7464N (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Respondent: Shri V.S. Jadhav,DR
Section 143(2)Section 143(3)Section 68

…15 8 3. Mascon Global v. ACIT, (2010)133 TTJ 257 (Chennai((TM), 4. GE Energy Parts Inc. v. ADIT (2014)106 DTR 265 (Del.-Trib.) 5. Abhay Shroff v. ITO, (1997) 63 ITD 144 (1997)(Pat)(TM) approving 52 ITD 286 (Ahm) 6. DCIT v. Oman International Bank SAOG (2006) 100 ITD 285 (Mum)[SB] following the decision of Hon’ble Delhi High Court in Puri v. CIT, 151 ITR 84. 7. Electra Jaipur v. IAC, (1988)26 ITD 236 (Del.-Trib.) and 8. Prabhavati Shah v. CIT, (1998)231 ITR 1 (Bom) 8. The ld. D.R., on the other hand, relied upon the orders of authorities below. 9. We have considered the rival contentions and also perused the ma…

DCIT v. Oman International Bank SAOG (100 ITD 285) — Cited in 12 Judgments | BharatTax