Pc.CIT Vs. State Bank of India (2019) 261 Taxman 409 (bom). 5. Ajanta Manufacturing Ltd. v. DCIT

330 ITR 340High Court2011#8409 most cited

What is Pc.CIT Vs. State Bank of India (2019) 261 Taxman 409 (bom). 5. Ajanta Manufacturing Ltd. v. DCIT authority for?

Interest under section 244A of the Income-tax Act is allowable for the period from the first day of the assessment year up to the date of refund, even if TDS certificates were filed during assessment proceedings, provided the tax was deducted and deposited on time.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT Vs. State Bank of India · 244A · interest on delayed refund · TDS certificates filed during assessment · Bombay High Court · Larsen & Toubro Ltd. · 330 ITR 340

Sections most often in play

Section 14ASection 244ASection 36(1)(vii)Section 36(1)(viia)Section 40(a)(ia)Section 43BSection 80-IA

Judgments citing Pc.CIT Vs. State Bank of India (2019) 261 Taxman 409 (bom). 5. Ajanta Manufacturing Ltd. v. DCIT

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

…attributable to the assessee and that interest should be granted in accordance with law. 36.3. The Ld.AR on this issue has placed reliance on the following judicial precedents:- • CIT v. Tech Mahindra (2017) 397 ITR 748 (Bombay) • CIT v. Larsen & Toubro Ltd. (330 ITR 340) (Bom.) • CIT v. State Bank of Travancore (42 taxmann.com 572) (Ker.) • CIT v. Sutlej Industries Ltd. (325 ITR 331) (Del.) We have perused the submissions advanced by both sides in light of records placed before us. 36.4. The controversy relates to the grant of interest under section 244A and the restriction thereof on the ground that part of 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

…attributable to the assessee and that interest should be granted in accordance with law. 36.3. The Ld.AR on this issue has placed reliance on the following judicial precedents:- • CIT v. Tech Mahindra (2017) 397 ITR 748 (Bombay) • CIT v. Larsen & Toubro Ltd. (330 ITR 340) (Bom.) • CIT v. State Bank of Travancore (42 taxmann.com 572) (Ker.) • CIT v. Sutlej Industries Ltd. (325 ITR 331) (Del.) We have perused the submissions advanced by both sides in light of records placed before us. 36.4. The controversy relates to the grant of interest under section 244A and the restriction thereof on the ground that part of th…

Shri Kamlesh J. Jhaveri, Ahmedabad vs. The Income Tax Officer, Ward 10(1), Ahmedabad

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

ITA 1254/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad06 Aug 2021AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No.1254/Ahd/2016 नि◌धा"रण वष"/Asstt. Year: 2011-2012 Shri Kamlesh J. Jhaveri, Income Tax Officer, B/201, Siddh Silla Apartment, Vs. Ward-10(1), B/H. Ekta Tower, Ahmedabad. Barage Road, Vasna, Ahmedabad-380007. Pan: Aetpj5973L

For Appellant: Shri Asseem Thakkar, A.RFor Respondent: Shri S.S. Shukla, Sr.D.R
Section 145(3)

…ailable to the appellant is much more and the AO has completely overlooked this fact while making disallowance of interest. The appellant has relied upon decisions in the case of Reghuveer Synthetics Ltd. 354 ITR 222 (Guj.) and Reliance Utilities & Power Ltd. 330 ITR 340 (Bombay). 5.5. In the judgment of Reliance Utilities & Power Ltd., it is held that if there is interest free funds available to an assessee sufficient to meet its investments and at the same time the assessee had raised a loan, it can be presumed that the investments were from the interest free funds available. This decision is based on finding o…

Vardhman Textiles Ltd., Ludhiana vs. DCIT, R-1, Ludhiana

In the result, the appeals of the assessee in ITA

ITA 1264/CHANDI/2019[2002-03]Status: DisposedITAT Chandigarh30 Jul 2021AY 2002-03
For Appellant: S/Shri Subhash Aggarwal, Adv
Section 244A

…आयकर अपील"य अ"धकरण, च"डीगढ़ "यायपीठ “बी”, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’, CHANDIGARH BEFORE: SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI R.L. NEGI, JUDICIAL MEMBER आयकर अपील सं./ ITA No.1264 /Chd/2019 "नधा"रण वष" / Assessment Year : 2002-03 M/s Vardhman Textiles Ltd., The D.C.I.T. , बनाम (Formerly Known as M/s Range-I, Ludhiana. Mahavir Spinning Mills Ltd.), Vardhman Premises, Chandigarh Road, Luhiana. "थायी लेखा सं./PAN NO: AABCM4692E अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ ITA No.1265 /Chd/2019 "नधा"रण वष" / Assessment Year : 2003-04 M/s Vardhman Textiles L…

Vardhman Textiles Ltd, Ludhiana vs. Pr.CIT-1, Ludhiana

In the result, the appeals of the assessee in ITA

ITA 103/CHANDI/2020[2002-03]Status: DisposedITAT Chandigarh30 Jul 2021AY 2002-03
For Appellant: S/Shri Subhash Aggarwal, Adv
Section 244A

…आयकर अपील"य अ"धकरण, च"डीगढ़ "यायपीठ “बी”, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH ‘B’, CHANDIGARH BEFORE: SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI R.L. NEGI, JUDICIAL MEMBER आयकर अपील सं./ ITA No.1264 /Chd/2019 "नधा"रण वष" / Assessment Year : 2002-03 M/s Vardhman Textiles Ltd., The D.C.I.T. , बनाम (Formerly Known as M/s Range-I, Ludhiana. Mahavir Spinning Mills Ltd.), Vardhman Premises, Chandigarh Road, Luhiana. "थायी लेखा सं./PAN NO: AABCM4692E अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ ITA No.1265 /Chd/2019 "नधा"रण वष" / Assessment Year : 2003-04 M/s Vardhman Textiles L…

Bajaj Holdings & Investment Ltd (Formerly Known As Bajaj Auto Ltd), Mumbai vs. DCIT (Ltu) 1, Mumbai

In the result, both the appeals of the assessee are allowed

ITA 7457/MUM/2017[2002-03]Status: DisposedITAT Mumbai11 Sept 2019AY 2002-03

Bench: Shri C.N. Prasad & Shri Rajesh Kumar

For Appellant: Shri Kirit Kamdar, A.RFor Respondent: Shri Chaudhary Arun Kumar Singh, D.R
Section 143(3)Section 154

…n issued under section 143(1) did not exceed 10% of the tax liability and therefore there is no question of applicability of section 244A(ii) of the Act. The Ld. A.R. in defence of his argument relied on the decision of CIT(A) vs. Larson and Turbo Ltd. (2011) 330 ITR 340 (Bombay) and National Horticulture Board vs. UOI & Ors. (2002) 253 ITR 12 P&H. Finally, the Ld. A.R. submitted that there is no dispute that assessee is eligible for interest under section 144A of the Act in respect of additional TDS credit from 01.05.2007 to 20.06.2014 since the refunds were lying with the department during the said period. Fina…

Tms Enterprises Private Limited, Chennai vs. ACIT Company Circle 3 (1), Chennai

In the result, the appeal of the assessee is allowed

ITA 692/CHNY/2018[2006-07]Status: DisposedITAT Chennai25 Oct 2018AY 2006-07

Bench: Shri George Mathan & Shri S.Jayaraman

For Appellant: Mr.G.Seetharaman,C.A ""For Respondent: Mr.Clement Ramesh Kumar
Section 143(1)Section 154Section 244Section 244A

…nsidered and the order passed u/s.154 of the Act was confirmed. It was a submission that the issue of levy of interest u/s.244A was now squarely covered by the decision of the Bombay High Court in the case of CIT Vs. Larsen and Toubro Ltd. reported in [2011] 330 ITR 340 (Bom.) wherein it has been held that where the assessee after deducting and depositing TDS on time, but had filed the TDS certificates during the assessment :- 3 -: proceedings, interest u/s.244A cannot be denied. It was a submission that clearly the fact that the issue had reached the Bombay High Court and the Hon’ble Bombay High Court has t…

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

The appeal of the Revenue is dismissed

ITA 1360/MUM/2016[1995-96]Status: DisposedITAT Mumbai21 May 2018AY 1995-96

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 1995-96 Dcit-2(2)(1), M/S State Bank Of India, R. No.545, Financial Reporting & बनाम/ Aayakar Bhavan Taxation Department, 3Rd Vs. M.K. Road, Floor, Corporate Centre, Mumbai-400020 State Bank Bhavan, Madam Cama Road, Nariman Point, Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Aaacs8577K

Section 244ASection 51

…आयकर अपील"य अ"धकरण, मुंबई "यायपीठ, ई, मुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “E”, MUMBAI "ी जो"ग"दर "संह, "या"यक सद"य एवं "ी एन. के. "धान, लेखा सद"य, के सम" Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member Assessment Year: 1995-96 DCIT-2(2)(1), M/s State Bank of India, R. No.545, Financial Reporting & बनाम/ Aayakar Bhavan Taxation Department, 3rd Vs. M.K. Road, Floor, Corporate Centre, Mumbai-400020 State Bank Bhavan, Madam Cama Road, Nariman Point, Mumbai-400021 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. AAACS8577K राज"व क" ओर से / Revenue by Shri…

Bank of Baroda, Mumbai vs. CIT - 2, Mumbai

In the result appeal filed by the assessee for A

ITA 3432/MUM/2014[2007-08]Status: DisposedITAT Mumbai09 Nov 2016AY 2007-08

Bench: Shri B.R.Baskaran (Am) & Shri Ram Lal Negi (Jm) Assessment Year: 2007-08

For Appellant: Shri. C. NareshFor Respondent: Shri. Y.K.Bhaskar
Section 143(3)Section 147Section 147(3)Section 2Section 244(2)Section 244ASection 263

…with the government, no withdrawal of interest u/s 244A was warranted. 4. Before us, the Ld. the Ld. authorized representative of the assessee submitted that in the light of the law laid down by the Hon’ble Bombay High Court in the case of CIT vs. L&T Ltd. (330 ITR 340),Hon’ble Delhi High Court in Director of Income Tax, New Delhi vs. Mitshubishi Corporation [2006] TAXMAN 581(Delhi) and decision of Mumbai Tribunal rendered in State Bank of Indis Vs. DCIT-2, Mumbai for the AY 2001-02 and 2002-03, the impugned order is not sustainable in law and the same is liable to be set aside. The AO has rightly allowed the i…

The Pfizer Corporation Panamaltd, Mumbai vs. M/S. DDIT (It)-2(1), Mumbai

In the result, appeal of the assessee is allowed, as above

ITA 2619/MUM/2008[2003-2004]Status: DisposedITAT Mumbai22 Jul 2016AY 2003-2004

Bench: Shri G.S. Pannu & Shri Amarjit Singh: (A.Y : 2003-04) Pfizer Corporation, Panama Vs. Ddit(It)-2(1), C/O Pfizer Limited, Mumbai Pfizer Centre 5, Patel Estate, (Respondent) S.V. Road, Jogeshwari (W), Mumbai 400 102. Pan : Aaacp0512H (Appellant)

For Appellant: Shri Girish DaveFor Respondent: Shri Samir Tekriwal
Section 143(1)Section 143(3)Section 154Section 244ASection 244A(1)

…is allowable to the assessee for the period prescribed in Sec. 244A(1) of the Act, i.e., from 1.4.2003 up to the date of grant of refund. The learned representative relied upon the judgment of the Hon’ble Bombay High Court in the case of Larsen & Toubro Ltd., 330 ITR 340 to point out that even in a case where TDS certificates were not furnished with the return of income but were filed during assessment proceedings, the Hon’ble High Court upheld the plea of the assessee for grant of interest on delayed refund from the first day of the assessment year up to the date of refund. The learned representative pointed out…

ADIT (It) 1(1), Mumbai vs. Asia Today Ltd( New), Mumbai

In the result, both the appeals filed by the revenue stands dismissed

ITA 1379/MUM/2014[2005-06]Status: DisposedITAT Mumbai08 Mar 2016AY 2005-06

Bench: Shri Rajendra & Shri Amit Shukla

Section 154Section 244A

…ए"शया टूड़े "ल"मटेड 1 M/s Asia Today Ltd (NEW) ITA No. 1380/Mum/2014 आयकर अपीलीय अिधकरण “ए” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI "ी राज", लेखा सद"य एवं "ी अिमत शु"ला, "याियक सद"य के सम" । BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. : 1379/Mum/2014 (Assessment year: 2005-06) ITA No. : 1380/Mum/2014 (Assessment year: 2005-06) ए"शया टूड़े "ल"मटेड ADIT (IT)-1(1), Vs R. No. 117, 1st Floor, M/s Asia Today Ltd (NEW), Scindia House, N.M. Road, C/o. MBB & Co CAS, Ballard Estate, Jolly Bhavan No.2, Mumbai -400 038 1st Floor, 7, New Marine Li…

ADIT (It) 1(1), Mumbai vs. Asia Today Ltd( Old), Mumbai

In the result, both the appeals filed by the revenue stands dismissed

ITA 1380/MUM/2014[2005-06]Status: DisposedITAT Mumbai03 Mar 2016AY 2005-06

Bench: Shri Rajendra & Shri Amit Shukla

Section 154Section 244A

…ए"शया टूड़े "ल"मटेड 1 M/s Asia Today Ltd (NEW) ITA No. 1380/Mum/2014 आयकर अपीलीय अिधकरण “ए” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “A”, MUMBAI "ी राज", लेखा सद"य एवं "ी अिमत शु"ला, "याियक सद"य के सम" । BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND SHRI AMIT SHUKLA, JUDICIAL MEMBER ITA No. : 1379/Mum/2014 (Assessment year: 2005-06) ITA No. : 1380/Mum/2014 (Assessment year: 2005-06) ए"शया टूड़े "ल"मटेड ADIT (IT)-1(1), Vs R. No. 117, 1st Floor, M/s Asia Today Ltd (NEW), Scindia House, N.M. Road, C/o. MBB & Co CAS, Ballard Estate, Jolly Bhavan No.2, Mumbai -400 038 1st Floor, 7, New Marine Li…

DDIT (It) 1(1), Mumbai vs. Asia Today Ltd, Mumbai

In the result, the appeal filed by the Revenue is dismissed

ITA 4236/MUM/2014[2004-05]Status: DisposedITAT Mumbai23 Dec 2015AY 2004-05

Bench: Shri Joginder Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 4236/Mum/2014 ("नधा"रण वष" / Assessment Year : 2004-05)

For Appellant: Shri Hitendra BhandariFor Respondent: Shri Yashwant U. Chavan
Section 154Section 244ASection 244A(2)

…g the said TDS certificates before the AO although the same were duly claimed in the return of income filed with the Revenue by the assessee company. The CIT(A) relied upon the decision of Hon’ble Bombay High Court in the case of Larsen & Toubro Ltd. , (2011) 330 ITR 340(Bom.) wherein it was held by Hon’ble Bombay High Court as under:- “Though the TDS certificates were not submitted with the return and were filed during the course of the assessment proceedings, the Tribunal has noted that the tax was in fact deducted at source at the right time. In the circumstances, the Tribunal is correct in holding that since…

Pc.CIT Vs. State Bank of India (2019) 261 Taxman 409 (bom). 5. Ajanta Manufacturing Ltd. v. DCIT (330 ITR 340) — Cited in 13 Judgments | BharatTax