What is Dy. DIT (International Taxation) v. Chohung Bank authority for?

Commission on a bank guarantee accrues entirely at the time the guarantee is given and cannot be spread over the period of the guarantee for tax purposes.

How many judgments cite Dy. DIT (International Taxation) v. Chohung Bank?

11 judgments on BharatTax cite Dy. DIT (International Taxation) v. Chohung Bank (126 ITD 448), spanning 2015 to 2026.

Which sections of the Income Tax Act does Dy. DIT (International Taxation) v. Chohung Bank come up under?

It is most often cited in judgments turning on Section 14A, Section 36(1)(vii), Section 244A, Section 36(1)(viia), Section 36(1)(viii), Section 40(a)(ia).

Dy. DIT (International Taxation) v. Chohung Bank (126 ITD 448)

Asst CIT 2(2)(1), Mumbai vs. State Bank of India, Mumbai

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

….T.A. No. 3882/Mum/2017 was disbursed. Certain other decision relied by the learned Departmental Representative reiterate the same view. 102. We also find that Mumbai Bench of the Tribunal in the case of Dy. DIT (International Taxation) v. Chohung Bank [2010] 126 ITD 448 considered almost a similar case in which that the assessee bank gave guarantee for the period extending the close of the year. The question arose as to whether such commission should be considered for the period of guarantee or charged to tax in the year in which the guarantee was given. The Tribunal held that the entire commission accrued at th…

State Bank of India, Mumbai vs. Asst CIT Cir 2(2), Mumbai

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

….T.A. No. 3882/Mum/2017 was disbursed. Certain other decision relied by the learned Departmental Representative reiterate the same view. 102. We also find that Mumbai Bench of the Tribunal in the case of Dy. DIT (International Taxation) v. Chohung Bank [2010] 126 ITD 448 considered almost a similar case in which that the assessee bank gave guarantee for the period extending the close of the year. The question arose as to whether such commission should be considered for the period of guarantee or charged to tax in the year in which the guarantee was given. The Tribunal held that the entire commission accrued at th…

DCIT 2(2), Mumbai vs. State Bank of India, Mumbai

In the result appeal filed by the assessee for assessment year 2006 – 07 and 2007 – 08 is partly allowed

ITA 4952/MUM/2013[2006-07]Status: DisposedITAT Mumbai11 Oct 2024AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm A.Y.2006-07 [ By Assessee] &

Section 14Section 143Section 36Section 41

…hich the loan amount was disbursed. Certain other decision relied by the learned Departmental Representative reiterate the same view. ` 102) We also find that Mumbai Bench of the Tribunal in the case of Dy. DIT (International Taxation) v. Chohung Bank [2010] 126 ITD 448 considered almost a similar case in which that the assessee bank gave guarantee for the period extending the close of the year. The question arose as to whether such commission should be considered for the period of guarantee or charged to tax in the year in which the guarantee was given. The Tribunal held that the entire commission accrued at th…

State Bank of India, Mumbai vs. Addl CIT Cir 2(2), Mumbai

In the result appeal filed by the assessee for assessment

ITA 3868/MUM/2013[2006-07]Status: DisposedITAT Mumbai11 Oct 2024AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm

Section 14Section 143Section 36Section 41

…n amount was disbursed. Certain other decision relied by the learned Departmental Representative reiterate the same view. Page | 81 102) We also find that Mumbai Bench of the Tribunal in the case of Dy. DIT (International Taxation) v. Chohung Bank [2010] 126 ITD 448 considered almost a similar case in which that the assessee bank gave guarantee for the period extending the close of the year. The question arose as to whether such commission should be considered for the period of guarantee or charged to tax in the year in which the guarantee was given. The Tribunal held that the entire commission accrued…

Jt.CIT.(OSD), Circle-1(1)(1), Ahmedabad vs. Axis Bank Limited, Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 956/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad29 Mar 2022AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 852/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2015-2016 Axis Bank Limited, J.C.I.T., “Trishul”, 3Rd Floor, Vs. Circle-1(1)(1), Opp. Samtheshwar Mahadev, Ahmedabad. Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K

For Appellant: Shri S.N. Soparkar Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT.D.R

Section 133Section 14ASection 43D

…ished irrespective of the period to which guarantee remained alive because the guarantee commission cannot be apportioned with reference to the period over which the guarantee extended. Similar view is taken by Mumbai ITAT in the case of Dy CIT vs ChohungBank 126 ITD 448 after considering the judgments in the case of Bsnk of Tokyo and Madras Industrial Investment corporation and held as under: "Admittedly, the amount of commission is received when the bank issues guarantee. Such guarantee is for a specific penod, sometimes extending to years. The amount of full ITA nos.852 & 956/AHD/2019 Asstt. Year 2015-16 14…

Axis Bank Limited, Ahmedabad vs. Jt.CIT., Circle-1(1)(1), Ahmedabad

In the result, the appeal of the Revenue is dismissed

ITA 852/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad29 Mar 2022AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./Ita No. 852/Ahd/2019 िनधा"रण वष"/Asstt. Year: 2015-2016 Axis Bank Limited, J.C.I.T., “Trishul”, 3Rd Floor, Vs. Circle-1(1)(1), Opp. Samtheshwar Mahadev, Ahmedabad. Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K

For Appellant: Shri S.N. Soparkar Sr. Advocate with Shri Parin Shah, A.RFor Respondent: Shri Vijaykumar Jaiswal, CIT.D.R

Section 133Section 14ASection 43D

…ished irrespective of the period to which guarantee remained alive because the guarantee commission cannot be apportioned with reference to the period over which the guarantee extended. Similar view is taken by Mumbai ITAT in the case of Dy CIT vs ChohungBank 126 ITD 448 after considering the judgments in the case of Bsnk of Tokyo and Madras Industrial Investment corporation and held as under: "Admittedly, the amount of commission is received when the bank issues guarantee. Such guarantee is for a specific penod, sometimes extending to years. The amount of full ITA nos.852 & 956/AHD/2019 Asstt. Year 2015-16 14…

Axis Bank Limited, Ahmedabad vs. The Dy.CIT, Circle-1 Now Circle-1(1)(1), Ahmedabad

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

ITA 311/AHD/2016[2010-11]Status: DisposedITAT Ahmedabad28 Oct 2021AY 2010-11

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedsl. Ita No(S) Asset. Appeal(S) By No(S) Year(S) Appellant Vs. Respondent Appellant Respondent 1. 311/Ahd/2016 2010-11 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 2. 2176/Ahd/2016 2011-12 Axis Bank Limited, D.C.I.T., “Trishul”, 3Rd Floor, Circle-1(1)(1) Opp. Samtheshwar Ahmedabad. Mahadev Near Law Garden, Ellisbridge, Ahmedabad-380006. Pan: Aaacu2414K 3. 2173/Ahd/2016 2011-12 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 4. 165/Ahd/2017 2012-13 Axis Bank Limited, D.C.I.T., Ahmedabad. Circle-1(1)(1) Ahmedabad. Pan: Aaacu2414K 5. 287/Ahd/2017 2012-13 D.C.I.T., Axis Bank Limited, Circle-1(1)(1) Ahmedabad. Ahmedabad. Pan: Aaacu2414K 6-7 520 & 2013-14 Axis Bank Limited, D.C.I.T., 521/Ahd/2018 & Ahmedabad. Circle-1(1)(1) 2014-15 Ahmedabad. Pan: Aaacu2414K 8-9 604 & 605/ 2013-14 D.C.I.T., Axis Bank Limited, Ahd/2018 & Circle-1(1)(1) Ahmedabad. 2014-15 Ahmedabad. Pan: Aaacu2414K

For Appellant: Shri S.N. Soparkar, Sr. Advocate with Smt. Urvashi Shodhan, and Shri Parin Shah,For Respondent: Shri Anshu Prakash, CIT.DR

Section 14A

…ed irrespective of the period to which guarantee remained alive because the guarantee commission cannot be apportioned with reference to the period over which the guarantee extended Similar view is taken by tV.umbai ITAT in the case of ,Dy CIT vs Cnohung Bank 126 ITD 448 after considering ihe judgments in the case of Bank of Tokyo and Madras Industrial Investment corporation and held as under: Admittedly, the amount of commission is received when the bonk issues guarantee. Such guoram.se is lor n specific period, sometime; extending to years. The amount of full guarantee commission is received o; ths time of issu…

Asst CIT 1(2)1, Mumbai vs. Standard Chartered Investments & Loans (India) Ltd, Mumbai

In the result, this ground of appeal is allowed for statistical

ITA 7089/MUM/2016[2007-08]Status: DisposedITAT Mumbai29 Jan 2020AY 2007-08

Bench: Shri Pawan Singh & Shri S. Rifaur Rehman

For Appellant: Shri Dhanesh Bafna with MsFor Respondent: Shri Simi Samant (CIT-DR)

Section 14ASection 254(1)

…loss on sale of current investment is allowable deduction while computing income under the head “Profit & Gains of Business or Profession”. In support of his submission, the ld. AR of the assessee relied upon the following decision:  DDIT vs. Chohung Bank [126 ITD 448 (Mumbai Trib.)]  CIT vs. Bank of Baroda [262 ITR 334 (Bombay HC)]  Yes Bank Ltd. vs. DCIT [46 ITR (T) 121 (Mumbai Trib.)]  JCIT vs. Rabo India Finance Limited (ITA No.3169/M/2011) 12. On the other hand, the ld. DR for the revenue supported the order of lower authorities. 13. We have considered the rival submission of the parties and perused t…

Standard Chartered Investments & Loans (India) Ltd, Mumbai vs. DCIT 1(3), Mumbai

In the result, this ground of appeal is allowed for statistical

ITA 7070/MUM/2016[2008-09]Status: DisposedITAT Mumbai29 Jan 2020AY 2008-09

Bench: Shri Pawan Singh & Shri S. Rifaur Rehman

For Appellant: Shri Dhanesh Bafna with MsFor Respondent: Shri Simi Samant (CIT-DR)

Section 14ASection 254(1)

…loss on sale of current investment is allowable deduction while computing income under the head “Profit & Gains of Business or Profession”. In support of his submission, the ld. AR of the assessee relied upon the following decision:  DDIT vs. Chohung Bank [126 ITD 448 (Mumbai Trib.)]  CIT vs. Bank of Baroda [262 ITR 334 (Bombay HC)]  Yes Bank Ltd. vs. DCIT [46 ITR (T) 121 (Mumbai Trib.)]  JCIT vs. Rabo India Finance Limited (ITA No.3169/M/2011) 12. On the other hand, the ld. DR for the revenue supported the order of lower authorities. 13. We have considered the rival submission of the parties and perused t…

The Hongkong & Shanghai Banking Corporation Ltd, Navi Mumbai vs. ADIT (It) RG-3(1), Mumbai

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

ITA 3996/MUM/2009[2003-04]Status: DisposedITAT Mumbai27 Nov 2019AY 2003-04

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm & Adit (It) 3(1) Vs. The Hongkong & Scindia House, Shanghai Banking R.No.132, 1St Floor Corporation Ltd N.M.Road, 52/60, Mahatma Gandhi Mumbai – 38 Road Mumbai – 400 001 Pan/Gir No. Aaact2786P (Appellant) .. (Respondent) & The Hongkong & Vs. Adit (It) 3(1) Shanghai Banking Scindia House, R.No.132, 1St Floor Corporation Ltd 52/60, Mahatma Gandhi N.M.Road, Road Mumbai – 38 Mumbai – 400 001 Pan/Gir No. Aaact2786P (Appellant) .. (Respondent)

Section 143(3)Section 192Section 37Section 44C

…cial Bank Ltd (262 ITR 55); b) M/s American Express Bank Limited in Income Tax Reference No.3 of 2002 R A No.568/Mum/1998 order dated 17.7.2003; c) Shinhan Bank V/s DCIT(IT) (2012) 54 SOT 140(Mum) =(2012) 23 taxmann.com 449(Mum); d) DCIT (IT) V/s Chohang Bank 126 ITD 448 (Mum); e) ABN Amro Bank N V V/s JCIT in ITA No.692/Cal/2000(AY-1996-97) dated 30.3.2001; f) Kedarnath Jute Mfg Co. Ltd.V/s CIT- 82 ITR 363 g) The British Bank of Middle East V/s JCIT in ITA No.751/Mum/1998 (AY-1993-94) order dated 28.6.2005 para 71 and 72. 17. We have heard the parties on this issue and perused the materials placed before us incl…

The ADIT (I.T)3(1) vs. M/S. Honkong & Shanghani Banking Corpn. Ltd

In the result, ITA Nos.2519 and 2520/Mum/2004 by revenue stand dismissed, ITA No

ITA 2519/MUM/2004[1999-2000]Status: DisposedITAT Mumbai20 Nov 2015AY 1999-2000

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आयकर अपील सं./I.T.A. No.2519 & 2520/Mum/2004 ("नधा"रण वष" / Assessment Year:1999-2000 & 2000-01) M/S Hongkong & Shanghani Asstt.Direrctor Of Income Tax बनाम/ Banking Corporation Ltd., (International Taxation)-3(1), Vs. 52/60, M G Road, 136, Scindia House, Mumbai-400001 N M Marg, Ballard Estate, Mumbai-400038 .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

Section 143(3)

…b) M/s American Express Bank Limited in Income Tax Reference No.3 of 2002 R A No.568/Mum/1998 order dated 17.7.2003; c) Shinhan Bank V/s DCIT(IT) (2012) 54 SOT 140(Mum) = (2012) 23 taxmann.com 449(Mum); 7 and other six appeals d) DCIT (IT) V/s Chohang Bank 126 ITD 448 (Mum); e) ABN Amro Bank N V V/s JCIT in ITA No.692/Cal/2000(AY-1996-97) dated 30.3.2001; f) Kedarnath Jute Mfg Co. Ltd.V/s CIT- 82 ITR 363 g) The British Bank of Middle East V/s JCIT in ITA No.751/Mum/1998 (AY-1993-94) order dated 28.6.2005 para 71 and 72. 17. We have heard the parties on this issue and perused the materials placed before us inc…

Dy. DIT (International Taxation) v. Chohung Bank