DIT v. Credit Agricole Indosuez

377 ITR 102High Court2015#4214 most cited

What is DIT v. Credit Agricole Indosuez authority for?

Interest earned from the tax department is to be assessed in accordance with the Double Taxation Avoidance Agreement (DTAA).

28

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Also referred to as

DIT v. Credit Agricole Indosuez · 377 ITR 102 · Bombay High Court · interest on tax refund · DTAA Article 11(2) · assessment of interest income · tax department refund

Sections most often in play

Section 143(3)Section 139(1)Section 142(1)Section 143(2)Section 143(3A)Section 143(3B)Section 144C(13)Section 1961: Section 143(3)

Issues it is cited on

economic adjustmentsection 44csection 44dasection 10(15)section 256(1)interest on refundsection 115osection 44bbsection 256section 10(33)section 92c(2)section 244

Judgments citing DIT v. Credit Agricole Indosuez

NATWEST MARKETS PLC - INDIA BRANCH,KOLKATA vs. CIT (IT & TP), CIR- 1(2), KOLKATA, KOLKATA

In the result the appeal of the assessee is allowed

ITA 997/KOL/2024[2018-2019]Status: DisposedITAT Kolkata26 Aug 2025AY 2018-2019

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Commissioner Of Income Tax Natwest Markets Plc-India (International Taxation & Branch Transfer Pricing) 907, Regus, 9Th Floor, Ps Aaykar Bhavan Poorva, Vs. Arcadia, 4A, Abanindra Nath 2Nd Floor, 110, Shanti Pally, Thakur Sarani, Kolkata-700016 Kolkata-700107, West Bengal (Appellant) (Respondent) Pan No. Aacct8020E Assessee By : Shri Percy Pardiwala, Ar Revenue By : Shri Sandeep Lakra, Dr Date Of Hearing: 31.07.2025 Date Of Pronouncement: 26.08.2025

For Appellant: Shri Percy Pardiwala, ARFor Respondent: Shri Sandeep Lakra, DR
Section 142(1)Section 143(2)Section 143(3)Section 263

…ssing Officer in the final assessment order. In this regard reliance is placed on the order of Special Bench of the Tribunal in CIT vs. Clough Engineering Limited 130 ITD 137 as well as the judgment of the Bombay High Court in DIT vs. Credit Agricole Indozuez 377 ITR 102. In both these decisions the Tribunal/Court has taken the view that the interest earned from the tax Natwest Markets PLC_India Branch; A.Y. 2018-19 department has to be assessed in accordance with Article 11(2) of the relevant DTAA. 10. The ld. DR on the other hand relied heavily on the final assessment order by submitting that the income has bee…

ACIT, CIRCLE- II, INTERNATIONAL TAXATION , DEHRADUN vs. WEATHERFORD OIL TOOLS M.E. LTD., DEHRADUN

ITA 5696/DEL/2018[2015-16]Status: DisposedITAT Dehradun28 Apr 2025AY 2015-16

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

WEATHERFORD OIL TOOLS ME LTD.,DEHRADUN vs. ACIT, CIRCLE- II, INTERNATIONAL TAXATION, DEHRADUN

ITA 5647/DEL/2018[2015-16]Status: DisposedITAT Dehradun28 Apr 2025AY 2015-16

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

ACIT, CIRCLE- II, INTERNATIONAL TAXATION, DEHRADUN vs. WEATHERFORD OIL TOOLS M.E. LTD., DEHRADUN

ITA 417/DEL/2018[2014-15]Status: DisposedITAT Dehradun28 Apr 2025AY 2014-15

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

WEATHERFORD OIL TOOLS M.E. LTD.,NOIDA vs. DCIT, CIRCLE- 2, INTERNATIONAL TAXATION, DEHRADUN

ITA 7848/DEL/2017[2014-15]Status: DisposedITAT Dehradun28 Apr 2025AY 2014-15

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

ACIT, CIRCLE- II, INTERNATIONAL TAXATION, DEHRADUN vs. WEATHERFORD OIL TOOLS ME LTD., DEHRADUN

ITA 7477/DEL/2017[2013-14]Status: DisposedITAT Dehradun28 Apr 2025AY 2013-14

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

WEATHERFORD OIL TOOLS M E LTD.,DEHRADUN vs. DCIT, CIRCLE- 2, INTL. TAXATION, DEHRADUN

ITA 7334/DEL/2017[2013-14]Status: DisposedITAT Dehradun28 Apr 2025AY 2013-14

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

For Appellant: Sh. Salil Kapoor, Sh. Anil ChachraFor Respondent: Sh. Mithun Shete, Sr. DR
Section 1Section 92D

…ion to confirm the Assessing Officer’s impugned action. We thus reject 15 ITA Nos. 7334, 7477 & 7848/Del./2017 ITA No. 417, 5647 & 5696/Del/2018 Weatherford Oil Tools ME Ltd. the assessee’s vehement contentions quoting DIT vs. Credit Agricole Indosuez (2015) 377 ITR 102 (Bom.) as the same has to make way for hon’ble jurisdictional high court’s decision. This assessee’s instant latter substantive ground fails therefore. It’s main appeal ITA No. 7848/Del/2017 is partly accepted in very terms. 15. Coming to the Revenue’s cross appeal ITA No. 417/Del/2018, both the learned representatives submit very fairly that it…

NATWEST MARKETS PLC,KOLKATA vs. ASSISTANT COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION - 1(2), KOLKATA

In the result the appeal of the assessee is allowed

ITA 273/KOL/2023[2020-21]Status: DisposedITAT Kolkata27 Nov 2024AY 2020-21

Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Asst. Commissioner Of Natwest Markets Plc Income Tax 907, Regus, 9Th Floor, Ps Arcadia, 4A, Abanindra Nath Aaykar Bhavan, 2 Nd Floor, Vs. Thakur Sarani, Kolkata, West 110, Shanti Pally, Kolkata, Bengal-700016 West Bengal 700017 (Appellant) (Respondent) Pan No. Aacct8020E Assessee By : Shri Parcy Pardiwalla, Ar Revenue By : Shri Praveen Kishore, Dr Date Of Hearing: 26.09.2024 Date Of Pronouncement : 27.11.2024 O R D E R

For Appellant: Shri Parcy Pardiwalla, ARFor Respondent: Shri Praveen Kishore, DR
Section 143(1)Section 144CSection 244A

…ssing Officer in the final assessment order. In this regard reliance is placed on the order of Special Bench of the Tribunal in CIT vs. Clough Engineering Limited 130 ITD 137 as well as the judgment of the Bombay High Court in DIT vs. Credit Agricole Indozuez 377 ITR 102. In both these decisions the Tribunal/Court has taken the view that the interest earned from the tax department has to be assessed in accordance with Article 11(2) of the relevant DTAA. 010. The ld. DR on the other hand relied heavily on the final assessment order by submitting that the income has been correctly assessed in the hands of the asse…

SANGEETA RAVINDRA CHANADAN,MUMBAI vs. 19(3)(1), MUMBAI

In the result, appeal of the assessee bearing ITA 457/Mum/2024 is allowed

ITA 457/MUM/2024[2018-19]Status: DisposedITAT Mumbai27 Sept 2024AY 2018-19

Bench: Shri Anikesh Banerjee & Miss. Padmavathy S.

For Appellant: Ms. Asifa KhanFor Respondent: Ms. Rajeshwari Menon SRDR
Section 139(1)Section 143(3)Section 250Section 56(2)(x)

…ounsel for the Revenue, states that the Revenue has not preferred any appeal against the decision of the Tribunal in the case of Atul G. Puranik (supra). Thus, it could be inferred that it has been accepted. Our Court in DIT v. Credit Agricole Indosuez (2015) 377 ITR 102/120161.69 pxmmm.com.255 (Dom) (dealing with Tribunal order) and the Apex Court in UOI v. Satish P. Shah [20011 249 ITR 221/117 Taxman 373 (SC) (dealing with High Court order) has laid down the salutary principle that where the Revenue has accepted the decision of the Court/Tribunal o an issue of law and not challenged it in appeal, then a subsequ…

CORNING SAS INDIA BRANCH OFFICE ,HARYANA vs. DCIT/ACIT-INT-TAX , HARYANA

The appeal of the assessee is allowed as above

ITA 528/DEL/2022[2018-19]Status: DisposedITAT Delhi06 Feb 2024AY 2018-19

Bench: Shri G.S. Pannu Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Shri Kul Bharat Kul Bharat Kul Bharatkul Bharat Shri Shri Shri

For Appellant: Shri Rajan Vora, CAFor Respondent: Shri Bhuvnesh Kulshresth, CIT-DR &
Section 143(3)Section 144C(1)Section 144C(13)Section 270

…January 2019). (v) DHL Operations BV v. DDIT (ITA No. 183/Mum/2010 dated 21 September 2011) (Mumbai Tribunal) - Appeal filed by Revenue dismissed by Hon'ble Bombay HC (ITA No. 431 of 2012 dated 17 July 2014). (vi) DIT(IT) v. Credit Agricole Indosuez [2015] 377 ITR 102 (Bom HC). 6 ITA-528/Del/2022 (vii) International Global Networks BV v. DDIT (2012) (50 SOT 433) (Mumbai Tribunal) - Issue not challenged by the department before the Hon'ble Bombay HC (ITA No. 1579 of 2012 dated 12 December 2014). (viii) Transocean Offshore International Ventures Ltd v. DCIT(IT) (ITA No. 5895/Del/2017 dated 28 January 2022) (D…

NAT WEST MARKETS PLC- INDIA BRANCH ,KOLKATA vs. ACIT(I.T)-1(2), KOLKATA. , KOLKATA

In the result, the appeal of the assessee is allowed

ITA 1364/KOL/2023[2021-22]Status: DisposedITAT Kolkata31 Jan 2024AY 2021-22

Bench: Shri Rajesh Kumar, Am & Shri Sonjoy Sarma, Jm Nat West Markets Plc-India Acit (I.T)-1(2), Kolkata Branch Aaykar Bhavan Poorva, 2 Nd 907, Regus, 9Thfloor, Floor, Psarcadia,4A, Abandindra Nath Vs. 110, Shanti Pally, Thakur Sarani, Kolkata-700016, Kolkata-700107, West Bengal West Bengal (Appellant) (Respondent) Pan No. Aacct8020E Assessee By : Shri Percy Pardiwala, Ar Revenue By : Shri Gaurav Kanujia, Dr Date Of Hearing: 15.01.2025 Date Of Pronouncement : 31.01.2025

For Appellant: Shri Percy Pardiwala, ARFor Respondent: Shri Gaurav Kanujia, DR
Section 143(3)Section 144C(13)Section 44ASection 56Section 68

…ssing Officer in the final assessment order. In this regard reliance is placed on the order of Special Bench of the Tribunal in CIT vs. Clough Engineering Limited 130 ITD 137 as well as the judgment of the Bombay High Court in DIT vs. Credit Agricole Indozuez 377 ITR 102. In both these decisions the Tribunal/Court has taken the view that the interest earned from the tax department has to be assessed in accordance with Article 11(2) of the relevant DTAA. 10. The ld. DR on the other hand relied heavily on the final assessment order by submitting that the income has been correctly assessed in the hands of the assess…

STANDARD CHARTERED BANK,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed and appeal filed by the Revenue is dismissed

ITA 4867/MUM/2017[2001-02]Status: DisposedITAT Mumbai13 Nov 2023AY 2001-02

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 14ASection 250Section 40

…ty as the said interest on income-tax refund cannot be said to be effectively connected to a PE / India Branch.  This issue is covered by the decision of the Jurisdictional High Court/ ITAT in the following cases: o DIT vs. Credit Agricole Indosuez [2015] [377 ITR 102] [Bom-HC](refer page 390 of the Bank’s Appeal legal paper book) wherein the Hon’ble Bombay HC upheld the decision/ruling of Hon’ble Delhi ITAT in the case of ACIT vs. Clough Engineering Ltd [2011] [11 taxmann.com 70] [Delhi Special Bench](refer page 454 of the Bank’s Appeal legal paper book). Page 63 of 90 o Covered in Appellant’s own case The…

STANDARD CHARTERED BANK,MUMBAI vs. DDIT (IT) 2(1), MUMBAI

In the result, ground raised by the revenue is dismissed

ITA 3458/MUM/2009[2000-01]Status: DisposedITAT Mumbai13 Nov 2023AY 2000-01

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 14ASection 250Section 40Section 44C

…ty as the said interest on income-tax refund cannot be said to be effectively connected to a PE / India Branch.  This issue is covered by the decision of the Jurisdictional High Court/ ITAT in the following cases: o DIT vs. Credit Agricole Indosuez [2015] [377 ITR 102] [Bom-HC](refer page 357 of the Bank’s Appeal legal paperbook) wherein the Hon’ble Bombay HC upheld the decision/ruling of Hon’ble Delhi ITAT in the case of ACIT vs. Clough Engineering Ltd [2011] [11 taxmann.com 70] [Delhi Special Bench](refer page 425 of the Bank’s Appeal legal paperbook). o Covered in Appellant’s own case: The Appellant submi…

M/S. STANDARD CHARTERED BANK,MUMBAI vs. DDIT (I.T) - 2(1), MUMBAI

In the result, the appeal of revenue is partly allowed

ITA 3377/MUM/2006[1998-1999]Status: DisposedITAT Mumbai13 Nov 2023AY 1998-1999

Bench: Shri Vikas Awasthy & Shri Gagan Goyalstandard Chartered Bank Taxation Department, 23-25, M. G. Road, 3Rd Floor, Fort, Mumbai-400 001 Pan: Aabcs4681D ..... Appellant Vs. Ddit (Intl. Tax)-2(1) Scindia House, Ballard Estate, N. M. Marg, Mumbai-400 038 ..... Respondent

For Appellant: Shri Madhur Agarwal, Ld. ARFor Respondent: Shri Anil Sant, Ld. DR
Section 115JSection 145Section 195Section 195(1)Section 250Section 40Section 90(2)

…aty as the said interest on income-tax refund cannot be said to be effectively connected to a PE / India Branch.  This issue is covered by the decision of the Jurisdictional High Court/ ITAT in the following cases: o DIT vs. Credit Agricole Indosuez [2015] [377 ITR 102] [Bom-HC](Copy of decision is enclosed in the Bank’s paper book at page 143) wherein the Hon’ble Bombay HC upheld the decision/ruling of Delhi ITAT in the case of ACIT vs. Clough Engineering Ltd [2011] [11 taxmann.com 70] [Delhi Special Bench]. o Covered in Appellant’s own case: The Appellant submits that in the A.Y. 1999-00, the coordinate ben…

ABU DHABI COMMERICAL BANK LTD,MUMBAI vs. ADIT (IT) 1(1), MUMBAI

In the result, all the appeals and cross objections are disposed

ITA 3463/MUM/2010[2004-05]Status: DisposedITAT Mumbai26 Oct 2023AY 2004-05

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

…rstly, in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in the case of DIT v. Credit A the case of DIT v. Credit Agricole Indosuez (377 ITR 102), gricole Indosuez (377 ITR 102), the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the ‘gross basis’. Secondly Secondly, he submitted that in view of the interest submitted that in view of the interest fre…

M/S. ABU-DHABI COMMERCIAL BANK LTD,MUMBAI vs. THE DDIT (IT)-1(1), MUMBAI

In the result, all the appeals and cross objections are disposed

ITA 6530/MUM/2006[2003-2004]Status: DisposedITAT Mumbai26 Oct 2023AY 2003-2004

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

…rstly, in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in the case of DIT v. Credit A the case of DIT v. Credit Agricole Indosuez (377 ITR 102), gricole Indosuez (377 ITR 102), the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the ‘gross basis’. Secondly Secondly, he submitted that in view of the interest submitted that in view of the interest fre…

THE DDIT (I.T)1(1) vs. M/S. ABUDABI COMMERCIAL BANK LTD.,

In the result, all the appeals and cross objections are disposed

ITA 2205/MUM/2004[1998-1999]Status: DisposedITAT Mumbai26 Oct 2023AY 1998-1999

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

…rstly, in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in the case of DIT v. Credit A the case of DIT v. Credit Agricole Indosuez (377 ITR 102), gricole Indosuez (377 ITR 102), the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the ‘gross basis’. Secondly Secondly, he submitted that in view of the interest submitted that in view of the interest fre…

JCIT, SPECIAL RANGE-27, MUMBAI vs. ABU-DHABI COMMERCIAL BANK LTD, MUMBAI

In the result, all the appeals and cross objections are disposed

ITA 1733/MUM/2001[1997-98]Status: DisposedITAT Mumbai26 Oct 2023AY 1997-98

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 1997-98 & Assessment Year: 1998-99 & Assessment Year: 1999-2000 & Assessment Year: 2000-01 & Assessment Year: 2001-02 & Assessment Year: 2003-04 Dy. Dit(It)-1(1), M/S Abu Dhabi Commercial Room No. 117, Scindia House, Bank Ltd., N.M. Road, Ballard Pier, Vs. 75-B, Rehmant Manzil Veer Mumbai-400001. Nariman Road, Mumbai-400020. Pan No. Aaaca 4216 B Appellant Respondent Co No. 115/Mum/2004 (Arising Out Of Ita No. 2205/Mum/2004) Assessment Year: 1998-99 & Co No. 414/Mum/2004 (Arising Out Of Ita No. 3925/Mum/2004)

Section 10(15)

…rstly, in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in in view of the decision of the Hon’ble Bombay High Court in the case of DIT v. Credit A the case of DIT v. Credit Agricole Indosuez (377 ITR 102), gricole Indosuez (377 ITR 102), the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the interest income should be exempted u/s 10(15) of the Act on the ‘gross basis’. Secondly Secondly, he submitted that in view of the interest submitted that in view of the interest fre…

REPRO AUTO PVT. LTD,NEW DELHI vs. ITO WARD 21(2), NEW DELHI

ITA 2041/DEL/2019[2010-11]Status: DisposedITAT Delhi29 Sept 2023AY 2010-11

Bench: Shri C. M. Garg & Shri M. Balaganeshrepro Auto Pvt. Ltd, Vs. Ito, 177, W-7 Lane, Sainik Farms, Ward-21(2), New Delhi New Delhi (Appellant) (Respondent) Pan: Aaccr6510R Assessee By : Sh. Ashok Kumar, Ca Revenue By: Sh. Vivek Vardhan, Sr. Dr Date Of Hearing 06/09/2023 Date Of Pronouncement 29/09/2023

For Appellant: Sh. Ashok Kumar, CAFor Respondent: Sh. Vivek Vardhan, Sr. DR
Section 143(3)Section 147Section 48Section 50

…learned Counsel for the Revenue, states that the Revenue has not preferred any appeal against the decision of the Tribunal in the case of Atul Puranik (supra). Thus, it could be inferred that it has been accepted. Our Court in DIT vs. Credit Agricole Indosuez 377 ITR 102 (dealing with Tribunal order) and the Apex Court in UOI vs. Satish P. Shah 249 ITR 221 (dealing with High Court order) has laid down the salutary principle that where the Revenue has accepted the decision of the Court/Tribunal on an issue of law and not challenged it in appeal, then a subsequent decision following the earlier decision cannot be c…

MUFG BANK LTD. (EARLIER KNOWN AS THE BANK OF TOKYO MITSUBISHI UFG LTD.),DELHI vs. ACIT,CIRCLE-2(2)(1), INT. TAXATION , DELHI

In the result, the appeal is partly allowed for statistical

ITA 1246/DEL/2022[2015-16]Status: DisposedITAT Delhi31 Jan 2023AY 2015-16

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2015-16

Section 144C(3)Section 234DSection 244ASection 254Section 271(1)(c)

…he assessee relied upon the decision of the Special Bench of the Tribunal in case of Clough Engineering Ltd. Vs. ACIT, 130 ITD 137 (Del.) (SB) and the decision of Hon’ble Bombay High Court in case of DIT Vs. Credit 3 | P a g e AY: 2015-16 Agricole Indosuez, 377 ITR 102. Agreeing with the submissions of the assessee, the Tribunal, while deciding the appeal in ITA No. 7895/Del/2019, dated 16.10.2020, restored the issue to the Assessing Officer to decide the rate of tax on interest Income Tax refund by applying the above referred decisions and accordingly, allowed the ground. However, the Assessing Officer agai…

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DIT v. Credit Agricole Indosuez (377 ITR 102) — Cited in 28 Judgments | BharatTax