Krung Thai Bank v. JDIT

45 DTR 218Reported decision2010#4057 most cited

What is Krung Thai Bank v. JDIT authority for?

The case is cited for the principle that income from leasing of assets, if the lease is a finance lease, the depreciation allowance should be computed on the leased asset, not on the lease income.

29

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2025.

Also referred to as

Krung Thai Bank · JDIT · 45 DTR 218 · depreciation on leased assets · section 36(1)(viii) · finance lease · depreciation allowance · leased asset

Sections most often in play

Section 115JBSection 129Section 14ASection 194ASection 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)Section 211

Issues it is cited on

section 129(1)section 2(26)section 2(17)section 5(c)section 2(9)section 211section 210section 194a(1)depreciation on leased assetssection 36(1)(viii)section 59section 52

Judgments citing Krung Thai Bank v. JDIT

Oriental Bank of Commerce, Gurgaon vs. ACIT, Spl. Range-07, New Delhi

In the result, the appeal filed by the Assessee stands allowed

ITA 740/DEL/2020[2016-17]Status: DisposedITAT Delhi31 Mar 2023AY 2016-17

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2016-17

For Appellant: Sh. KVSR Krishna, Ld. CA &For Respondent: Ms. Sarita Kumar, Ld. CIT/DR
Section 115JSection 14ASection 250Section 36

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012  Oriental Insurance Co. Ltd. vs. DCIT I ITA No.447/2015 dtd 30.08.2017  CIT vs.…

ACIT, Circle- 19(1), New Delhi vs. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1812/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

Oriental Bank of Commerce, Gurgaon vs. ACIT, Circle- 19(1), New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1199/DEL/2018[2015-16]Status: DisposedITAT Delhi04 Mar 2022AY 2015-16

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2174/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

ACIT, New Delhi vs. M/S. Oriental Bank of Commerce, Gurgaon

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 2173/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1583/DEL/2017[2014-15]Status: DisposedITAT Delhi04 Mar 2022AY 2014-15

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

Oriental Bank of Commerce, Gurgaon vs. DCIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1582/DEL/2017[2013-14]Status: DisposedITAT Delhi04 Mar 2022AY 2013-14

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

Oriental Bank of Commerce, Gurgaon vs. Addl. CIT, New Delhi

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

ITA 1581/DEL/2017[2012-13]Status: DisposedITAT Delhi04 Mar 2022AY 2012-13

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

For Appellant: Sh. KVSR Krishna, CAFor Respondent: Ms. Sarita Kumari, CIT DR
Section 14A

…JCIT, LTU in ITA No. 530/Bng/2010 & other dtd. 30.03.2016  M/s. Canara Bank vs. CIT(LTU) In ITA No. 305/Bang/2011 dtd. 18.06.2012  Krung Thai Bank PCI vs. Joint Director of Income Tax (ITAT) (Mumbai) in ITA No.3390/Mum/09 dtd. 30.09.2010 reported in (2010) 45 DTR 218  Union Bank of India vs. ACIT, LTU (ITAT) (Mumbai) in ITA Nos.4702 to 4706/Mum/2010 dtd. 30.06.2011  Indian Bank vs. Addl. CIT (ITAT) (Chennai) in ITA No.469/Mds/2010 dtd. 03.08.2011  Union Bank of India (ITAT Mumbai) in ITA Nos.4155 to4161 of 2011 dtd. 27.03.2012 ITA No.1581 & Ors./Del/2017 19 ITA No. 1199 & Ors./Del/2018 Oriental Bank of C…

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

ITA 5276/MUM/2013[2005-06]Status: DisposedITAT Mumbai03 Jan 2017AY 2005-06

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri B. Pruseth
Section 10Section 14A

…s). Learned Departmental Representative has also not advanced any substantive argument to defer from the view expressed by the learned Commissioner (Appeals). In any case of the matter, as per the decision of the Co–ordinate Bench in Krung Thai Bank v/s JDIT, 45 DTR 218, and subsequent decisions of different Benches of the Tribunal, provisions of section 115JB AND 115J of the Act are not applicable to banking companies. In view of the aforesaid, we do not find any reason to interfere with the order of the learned Commissioner (Appeals) on this issue. Accordingly, we uphold the order of the learned Commissioner (A…