Dy. Commissioner of Income Tax, Circle- 1(1), Hyderabad vs. Union Bank of India, Hyderabad
In the result, the appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes
ITA 1230/HYD/2017[2012-13]Status: DisposedITAT Hyderabad28 Aug 2024AY 2012-13
Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1018/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Andhra Bank Vs. Dy. C. I. T. Hyderabad Circle 1(1) Pan:Aabca7375C Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.1230/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13 ) Dy. C. I. T. Vs. Andhra Bank Circle 1(1) Hyderabad Hyderabad Pan:Aabca7375C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ananthan, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 02/07/2024 घोषणा की तारीख/Pronouncement: 28/08/2024 आदेश/Order Per Manjunatha, G. A.M These Cross Appeals Filed By The Assessee, As Well As The Revenue, Are Directed Against The Order Dated 16/02/2016 Of Page 1 Of 59
For Appellant: Shri Ananthan, CAFor Respondent: : Shri Kumar Pranav, CIT(DR)
Section 36(1)(vi)Section 36(1)(vii)Section 36(1)(viia)Section 41(4)
…d to follow policy of the RBI so determined. Therefore, assessee being a banking company had to comply with the RBI guidelines. He has also referred to a decision of the Supreme Court in Deputy Commissioner of Sales Tax v. M/s. Motor Industries Company (1983) 2 SCC 108 and submits that in that case under the Kerala General Sales Tax Act, 1963, Supreme Court had pointed out a way to overcome such a difficulty. Further reference has been placed on the decision of the Supreme Court in UCO Bank v. Commissioner of Income Tax (1999)4 SCC 599 to contend that it is always open to the Central Board of Direct Taxes (CBDT)…
