Housing & Urban Development Corporation Ltd. v. Addl.CIT

396 ITR 667High Court2017#5916 most cited

What is Housing & Urban Development Corporation Ltd. v. Addl.CIT authority for?

The Delhi High Court, in Housing & Urban Development Corporation Ltd. v. Addl.CIT, succinctly captured the legal position regarding certain deductions, although it potentially misdirected itself by equating the assessee's facts with those in Southern Technologies Ltd. v. Asstt. CIT.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2023 to 2025.

Also referred to as

Housing & Urban Development Corporation Ltd. v. Addl.CIT · HUDCO · Section 14A · Section 37(1) · Section 36(1)(viia)(c) · Section 36(1)(viii) · Section 8D · Section 1961 · Section 135 · Section 145 · business deductions · expenditure

Sections most often in play

Section 14ASection 37(1)Section 36(1)(viia)(c)Section 36(1)(viii)Section 8DSection 1961Section 135Section 145

Issues it is cited on

section 36(1)(viia)(c)section 197a(1a)section 36(2)(v)section 41(4)section 36(1)(v)section 43dpreliminary expensessection 36(1)(viii)section 197asection 135csr expendituresection 35d

Judgments citing Housing & Urban Development Corporation Ltd. v. Addl.CIT

HUDCO LTD. (HOUSING & URBAN DEVELOPMENT CORPORATION LTD),NEW DELHI vs. ADDL. CIT, SPECIAL RANGE-4, NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 7218/DEL/2018[2015-16]Status: DisposedITAT Delhi31 Jul 2025AY 2015-16

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

ADDL. CIT, SPECIAL RANGE-4, NEW DELHI vs. HUDCO LTD. (HOUSING & URBAN DEVELOPMENT CORPORATION LTD), NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 6829/DEL/2018[2015-16]Status: DisposedITAT Delhi31 Jul 2025AY 2015-16

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

ADDL. CIT, SPECIAL RANGE- 4 , NEW DELHI vs. HUDCO LTD., NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 2063/DEL/2018[2014-15]Status: DisposedITAT Delhi31 Jul 2025AY 2014-15

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

HOUSING & URBAN DEVELOPMENT CORPORATION LTD,NEW DELHI vs. ADDL. CIT, RANGE-4, NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 1954/DEL/2018[2014-15]Status: DisposedITAT Delhi31 Jul 2025AY 2014-15

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

ADDL. CIT, NEW DELHI vs. M/S. HUDCO LTD., NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 3704/DEL/2017[2012-13]Status: DisposedITAT Delhi31 Jul 2025AY 2012-13

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical

ITA 3305/DEL/2017[2012-13]Status: DisposedITAT Delhi31 Jul 2025AY 2012-13

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR

…T Circle – 11(2) against accrual basis. At the very outset, the ld. counsel for the assessee submitted that this issue is covered in favour of the assessee by the judgment of the Hon'ble High Court of Delhi in assessee’s own case for A.Y 2007-08 reported in 421 ITR 599 and the order of the Tribunal in ITA No. 3261/DEL/2015 [supra]. 15. We have heard the rival submissions and have perused the relevant material on record. This issue was decided by the Tribunal vide its order in ITA 3261/DEL/2015 for A.Y 2010-11 order dated 04.11.2024. The Tribunal allowed this ground of the assessee by relying on the judgment…

DAI-ICHI KARKARIA LIMITED,MUMBAI vs. DCIT, CIRCLE-1(1)(1), MUMBAI

In the result, ground no. 4 of the assessee is allowed

ITA 1588/MUM/2025[2017-18]Status: DisposedITAT Mumbai30 Jun 2025AY 2017-18

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI PRABHASH SHANKAR (Accountant Member)

Section 115JSection 14ASection 254(1)Section 270A

…provision of workers payment on account of wage revision. The lower authorities stated this as contingent and as unascertained liability. We find that Hon’ble Delhi High Court in a recent decision in Housing & Urban Development Corporation Ltd. V. ACIT [2020] 421 ITR 599 (Delhi) held that provision made by assessee Public Sector unit for revision of pay of its employees, as per recommendation of committee appointed by the government was to be allowed as a business expenditure. Assessee has made provision on the basis of pending demand of workers on account of revision labour payment. Thus, assessee is eligible fo…

HOUSING & URBAN DEVELOPMENT CORPORATION LTD,NEW DELHI vs. ADDL. CIT, RANGE-4, NEW DELHI

In the result, the appeal of the assessee is partly allowed for

ITA 7865/DEL/2018[2007-08]Status: DisposedITAT Delhi25 Apr 2025AY 2007-08

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

…d further let us have a look at the order of the Hon'ble Supreme Court dated 13-12-2017. Now, let us look at the judgement of Hon'ble Delhi High Court in Housing & Urban Development Corporation Ltd. vs. Additional Commissioner of Income- tax, Range-12, [2017] 396 ITR 667 (Delhi) ("HUDCO") @ Page 9. @ Para 21.1 and @ Para 21.2. The Hon'ble High Court succinctly captured the legal position. The reference to Commissioner of Income- tax v. Vasisth Chay Vyapar Ltd, [2011] 330 ITR 440 (Delhi) ("Vashisht Chai Vyapar (Delhi)") was noted in the right perspective which was upheld by the Hon'ble Supreme Court in Vasisth Cha…

HOUSING & URBAN DEVELOPMENT CORPORATION LTD (HUDCO),NEW DELHI vs. ADDL. CIT, RANGE-4, NEW DELHI

In the result, the appeal of the assessee is partly allowed for

ITA 7629/DEL/2018[2009-10]Status: DisposedITAT Delhi25 Apr 2025AY 2009-10

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

…d further let us have a look at the order of the Hon'ble Supreme Court dated 13-12-2017. Now, let us look at the judgement of Hon'ble Delhi High Court in Housing & Urban Development Corporation Ltd. vs. Additional Commissioner of Income- tax, Range-12, [2017] 396 ITR 667 (Delhi) ("HUDCO") @ Page 9. @ Para 21.1 and @ Para 21.2. The Hon'ble High Court succinctly captured the legal position. The reference to Commissioner of Income- tax v. Vasisth Chay Vyapar Ltd, [2011] 330 ITR 440 (Delhi) ("Vashisht Chai Vyapar (Delhi)") was noted in the right perspective which was upheld by the Hon'ble Supreme Court in Vasisth Cha…

HOUSING & URBAN DEVELOPMENT CORPORATION LTD (HUDCO),NEW DELHI vs. ADDL. CIT, SPECIAL RANGE-4, NEW DELHI

In the result, the appeal of the assessee is partly allowed for

ITA 7628/DEL/2018[2008-09]Status: DisposedITAT Delhi25 Apr 2025AY 2008-09

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

…d further let us have a look at the order of the Hon'ble Supreme Court dated 13-12-2017. Now, let us look at the judgement of Hon'ble Delhi High Court in Housing & Urban Development Corporation Ltd. vs. Additional Commissioner of Income- tax, Range-12, [2017] 396 ITR 667 (Delhi) ("HUDCO") @ Page 9. @ Para 21.1 and @ Para 21.2. The Hon'ble High Court succinctly captured the legal position. The reference to Commissioner of Income- tax v. Vasisth Chay Vyapar Ltd, [2011] 330 ITR 440 (Delhi) ("Vashisht Chai Vyapar (Delhi)") was noted in the right perspective which was upheld by the Hon'ble Supreme Court in Vasisth Cha…

HOUSING & URBAN DEVELOPMENT CORPORATION LTD (HUDCO),NEW DELHI vs. ADDL. CIT, RANGE-4, NEW DELHI

In the result, the appeal of the assessee is partly allowed for

ITA 7626/DEL/2018[2005-06]Status: DisposedITAT Delhi25 Apr 2025AY 2005-06

Bench: Shri Challa Nagendra Prasad & Shri Naveen Chandra

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Dayainder Singh Sidhu, CIT-DR
Section 14ASection 36(1)(viia)

…d further let us have a look at the order of the Hon'ble Supreme Court dated 13-12-2017. Now, let us look at the judgement of Hon'ble Delhi High Court in Housing & Urban Development Corporation Ltd. vs. Additional Commissioner of Income- tax, Range-12, [2017] 396 ITR 667 (Delhi) ("HUDCO") @ Page 9. @ Para 21.1 and @ Para 21.2. The Hon'ble High Court succinctly captured the legal position. The reference to Commissioner of Income- tax v. Vasisth Chay Vyapar Ltd, [2011] 330 ITR 440 (Delhi) ("Vashisht Chai Vyapar (Delhi)") was noted in the right perspective which was upheld by the Hon'ble Supreme Court in Vasisth Cha…

DCIT, NEW DELHI vs. M/S HUDCO LTD.,, NEW DELHI

In the result, the appeal of the revenue in ITA No

ITA 3904/DEL/2015[2010-11]Status: DisposedITAT Delhi04 Nov 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Waseem Arshad, CIT DR &
Section 143(3)

…pt basis in respect of these services qua Government borrowers. Further, we find that the issue in dispute is no longer res integra in view of the decision of the Hon’ble Jurisdictional High Court in assessee’s own case for Assessment Year 2007-08 reported in 421 ITR 599 (Del) . The relevant operative portion of the said order are reproduced herein below:- “QUESTION III: 20. The next question pertains to addition of Rs. 1.28 crores on account of financial impact due to change in accounting policy in respect of revenue recognition of application fee, front end fees, administrative fee and processing fee of loans…

M/S. HOUSING & URBAN DEVELOPMENT CORPORATION LTD. (HUDCO),NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal of the revenue in ITA No

ITA 3261/DEL/2015[2010-11]Status: DisposedITAT Delhi04 Nov 2024AY 2010-11

Bench: Shri M. Balaganesh & Shri Yogesh Kumar U.S.

For Appellant: Shri Gagan Kumar, AdvFor Respondent: Shri Waseem Arshad, CIT DR &
Section 143(3)

…pt basis in respect of these services qua Government borrowers. Further, we find that the issue in dispute is no longer res integra in view of the decision of the Hon’ble Jurisdictional High Court in assessee’s own case for Assessment Year 2007-08 reported in 421 ITR 599 (Del) . The relevant operative portion of the said order are reproduced herein below:- “QUESTION III: 20. The next question pertains to addition of Rs. 1.28 crores on account of financial impact due to change in accounting policy in respect of revenue recognition of application fee, front end fees, administrative fee and processing fee of loans…

M/S. CITY UNION BANK,,KUMBAKONAM vs. DCIT, CIRCLE - 2 (1),, TRICHY

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 672/CHNY/2020[2017-18]Status: DisposedITAT Chennai11 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

DCIT CIRCLE-2(1), TRICHY vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 636/CHNY/2020[2017-18]Status: DisposedITAT Chennai11 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LTD., KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1419/CHNY/2019[2016-17]Status: DisposedITAT Chennai11 Mar 2024AY 2016-17

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LTD., KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1418/CHNY/2019[2015-16]Status: DisposedITAT Chennai11 Mar 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1121/CHNY/2019[2016-17]Status: DisposedITAT Chennai11 Mar 2024AY 2016-17

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1120/CHNY/2019[2015-16]Status: DisposedITAT Chennai11 Mar 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

…which says an account can be treated as NPA only if the interest is overdue for more than six months. 11. The CIT(A) failed to appreciate the decision of the Hon'ble Delhi High Court in the case of Housing & Urban Development Corporation Ltd V Addl.CIT [2017]396 ITR 667(Delhi), wherein it was held that " section 43D read with rule 6EB is a complete code in itself and there is an element of discretion for rule making authority to follow or not to follow NHB guidelines as when they are revised, thus every change in NHB guidelines would not lead to any corresponding automatic change in Rule 6EB. :-106-: ITA. No:…

GK STEEL & WIRE PRODUCTS,NEW DELHI vs. ITO WARD 46(5), NEW DELHI

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

ITA 3530/DEL/2019[2012-13]Status: DisposedITAT Delhi11 Apr 2023AY 2012-13

Bench: Shri G. S. Pannua N D Shri Challa Nagendra Prasad

For Appellant: Shri Rajat Vaishnawi, Adv
Section 139(1)Section 139(9)

…nn.com 111/262 Taxman 258 (SC)]; (ii) CIT vs Bilahari Investment (P.) Ltd. [(2008) 299 ITR 1 (SC)]; (iii) CIT vs Triveni Engg. & Industries Ltd. [(2011) 336 ITR 374 (Delhi High Court)] (iv) Housing & Urban Development Corporation Ltd. Vs Addl. CIT [([2020] 421 ITR 599 (Delhi High Court) (v) M/s Rasiklal & Sons vs ITO [ITA No. 1974/Mum/2010 – order dated 13.01.2012 (Mum.-Trib.) (vi) Gogga Gurusanthiah & Bros. vs DCIT [(2019) 108 taxmann.com 600 (Bangalore Trib.) 4. The ld. DR supports the orders of the authorities below. 5. Heard rival contentions. The main contention of the assessee is that the value of the…

Housing & Urban Development Corporation Ltd. v. Addl.CIT (396 ITR 667) — Cited in 20 Judgments | BharatTax