Jammu & Kashmir Bank v. ACIT

D.C.I.T., Circle 3(1), Mumbai vs. Icici Bank Ltd., Mumbai

In the result, appeal of the revenue in I

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Raj Kumar Chauhan, Hon’Ble

…business of infrastructure development. Accordingly, assessee fulfills the condition for claiming exemption under section 10(23G) of the Act. In this context, he also relied upon the decision of the Tribunal, Amritsar Bench, in Jammu & Kashmir Bank v/s ACIT, 114 TTJ 728. As far as disallowance of expenditure under section 14A of the Act for computing net exempt income under section 10(23G) of the Act, the learned Commissioner (Appeals) followed his orders in assessee's own case for preceding assessment years and directed the Assessing Officer to re-compute the disallowance under section 14A of the Act. 69. The l…

Icici Bank Ltd, Mumbai vs. DCIT RG 3(1), Mumbai

In the result, appeal of the revenue in I

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Raj Kumar Chauhan, Hon’Ble

…business of infrastructure development. Accordingly, assessee fulfills the condition for claiming exemption under section 10(23G) of the Act. In this context, he also relied upon the decision of the Tribunal, Amritsar Bench, in Jammu & Kashmir Bank v/s ACIT, 114 TTJ 728. As far as disallowance of expenditure under section 14A of the Act for computing net exempt income under section 10(23G) of the Act, the learned Commissioner (Appeals) followed his orders in assessee's own case for preceding assessment years and directed the Assessing Officer to re-compute the disallowance under section 14A of the Act. 69. The l…

DCIT Cir 3(1), Mumbai vs. Icici Bank Ltd, Mumbai

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5191/Mum/2009 (िनधा"रण वष" / Assessment Year: 2004-05) Dcit-Circle 3(1) Icici Bank Limited बनाम Room No.607, 6Th Floor नाम/ नाम नाम Icici Bank Towers Aaykar Bhavan Bandra-Kurla Complex Vs. Mumbai-400 020. Mumbai-400 051. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci-1195-H (अपीलाथ" / Appellant) (ू"यथ" / Respondent) : & C.O. No.127/Mum/2010 [Arising Out Of I.T.A. No.5191/Mum/2009] (िनधा"रण वष" / Assessment Year: 2004-05) Icici Bank Limited Dcit-Circle 3(1) बनाम नाम नाम/ नाम Room No.607, 6Th Floor Icici Bank Towers Bandra-Kurla Complex Aaykar Bhavan Vs. Mumbai-400 051. Mumbai-400 020. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaci 1195 H (""ा"ेप ""ा"ेप ""ा"ेप /Cross Objector) ""ा"ेप (ू"यथ" / Respondent) :

…claim of the Appellant of Rs.492,25,70,772/- is allowed. 3.5 The deduction u/s 10(23G) of the Act, as denied to the assessee by Ld. AO, was also allowed by following the decision of co-ordinate bench of Amritsar Tribunal rendered in J & K Bank Ltd. V/s ACIT [114 TTJ 728]. ICICI Bank Limited Assessment Year-2004-05 Another reason to allow the same was the fact that similar deduction was being allowed to the assessee in all the earlier Assessment Years till AY 2004-05 and therefore, the rule of consistency was to be followed. 3.6 The stand of appellate authority has given rise to appeal by revenue and cross-objec…

DCIT Cir 3(1), Mumbai vs. Icici Bank Ltd, Mumbai

In the result, Revenue’s appeal and assessee’s appeal are partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA no.5276/Mum./2013 (Assessment Year : 2005–06) Dy. Commissioner of Income Tax ……………. Appellant Circle–3(1), Mumbai v/s ICICI Bank Ltd. (In r/o ICICI Ltd. merged with M/s. ICICI Bank Limited) ICICI Bank towers ……………. Respondent Bandra Kurla Complex Mumbai 400 051 PAN – AAACI1195H ITA no.3841/Mum./2013 (Assessment Year : 2005–06) ICICI Bank Ltd. (In r/o ICICI Ltd. merged with M/s. ICICI Bank Limited) ICICI Bank towers ……………. Appellant Bandra Kurla Complex Mumbai 400 051 PA…