What is PCIT v. Punjab National Bank authority for?

Section 14A of the Income-tax Act is not attracted, and dividend income cannot be disallowed, when shares are held as stock-in-trade by banks, with the primary purpose of trading for profit. This applies even if the shares were acquired through an IPO.

How many judgments cite PCIT v. Punjab National Bank?

21 judgments on BharatTax cite PCIT v. Punjab National Bank (140 Taxmann.com 131), spanning 2023 to 2026.

Which sections of the Income Tax Act does PCIT v. Punjab National Bank come up under?

It is most often cited in judgments turning on Section 14A, Section 8D, Section 115JB, Section 36(1)(viia), Section 36(1)(vii), Section 90.

PCIT v. Punjab National Bank (140 Taxmann.com 131)

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

ITA 1548/MUM/2023[2018-2019]Status: DisposedITAT Mumbai30 Jan 2026AY 2018-2019

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

For Appellant: Shri C. NareshFor Respondent: Shri Satya Pal Kumar, CIT (DR)

Section 10Section 14ASection 250Section 32Section 90

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.1451/MUM/2023 Assessment Year : 2016-17 Bank of India, 8th Floor, Taxation Department, Star House, C-5, G-Block, Bandra – Kurla Complex, Bandra (East) Mumbai – 400051 PAN: AAACB0472C v/s Appellant Assistant Commissioner of Income Tax – 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, Mumbai - 400020 Respondent ITA No.1547/MUM/2023 Assessment Year : 2016-17 Assistant Commissioner of Income Tax 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, Mumbai - 400020 Bank…

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

In the result, the appeal by the Revenue for the assessment year 2018-

ITA 1547/MUM/2023[2016-2017]Status: DisposedITAT Mumbai30 Jan 2026AY 2016-2017

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

For Appellant: Shri C. NareshFor Respondent: Shri Satya Pal Kumar, CIT (DR)

Section 10Section 14ASection 250Section 32Section 90

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.1452/MUM/2023 Assessment Year : 2016-17 Assessment Year : 2018-19 Bank of India, 8th Floor, Taxation Department, Star House, C-5, G-Block, Bandra – Kurla Complex, Bandra (East) ……………. Appellant Mumbai – 400051 PAN: AAACB0472C v/s Assistant Commissioner of Income Tax – 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, ……………. Respondent Mumbai – 400020 ITA No.1548/MUM/2023 Assessment Year : 2016-17 Assessment Year : 2018-19 Assistant Commissioner of Income Tax…

Bank of India, Mumbai vs. The National Faceless Assessment Centre, Mumbai

ITA 1452/MUM/2023[2018-19]Status: DisposedITAT Mumbai30 Jan 2026AY 2018-19

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

For Appellant: Shri C. NareshFor Respondent: Shri Satya Pal Kumar, CIT (DR)

Section 10Section 14ASection 250Section 32Section 90

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.1451/MUM/2023 Assessment Year : 2016-17 Bank of India, 8th Floor, Taxation Department, Star House, C-5, G-Block, Bandra - Kurla Complex, Bandra (East) Mumbai – 400051 PAN: AAACB0472C v/s Appellant Respondent Assistant Commissioner of Income Tax – 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, Mumbai - 400020 ITA No.1547/MUM/2023 Assessment Year : 2016-17 Assistant Commissioner of Income Tax 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, Mumbai – 400020 Bank of…

Bank of India, Mumbai vs. ACIT-2(1)(2), Mumbai

In the result, the appeal by the Revenue for the assessment year 2018-

ITA 1451/MUM/2023[2016-17]Status: DisposedITAT Mumbai30 Jan 2026AY 2016-17

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

For Appellant: Shri C. NareshFor Respondent: Shri Satya Pal Kumar, CIT (DR)

Section 10Section 14ASection 250Section 32Section 90

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No.1452/MUM/2023 Assessment Year : 2016-17 Assessment Year : 2018-19 Bank of India, 8th Floor, Taxation Department, Star House, C-5, G-Block, Bandra – Kurla Complex, Bandra (East) ……………. Appellant Mumbai – 400051 PAN: AAACB0472C v/s Assistant Commissioner of Income Tax – 2(1)(2), Aayakar Bhavan, Maharishi Karve Road, ……………. Respondent Mumbai – 400020 ITA No.1548/MUM/2023 Assessment Year : 2016-17 Assessment Year : 2018-19 Assistant Commissioner of Income Tax…

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

In the result, appeal of the revenue is dismissed

ITA 1549/MUM/2023[2013-2014]Status: DisposedITAT Mumbai23 Dec 2025AY 2013-2014

Bench: MS. SUCHITRA RAGHUNATH KAMBLE (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

For Appellant: Shri P. J. Pardiwala, Sr. Advocate and Shri C. Naresh, CAFor Respondent: Shri Satya Pal Kumar, CIT DR

Section 10Section 115JSection 143(3)Section 14ASection 90

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH MUMBAI BEFORE MS. SUCHITRA RAGHUNATH KAMBLE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Assessment Year: 2013-14 Bank Of India Assistant Commissioner of 8th Floor, Income-tax-2(1)(1), Taxation Department, Star Mumbai Vs. House, C-5, 'G'-Block, BKC, Bandra (E), Mumbai - 400051 (PAN: AAACB0472C) (Assessee) (Respondent) Assessment Year: 2013-14 Assistant Commissioner of Bank Of India Income-tax-2(1)(1), 8th Floor, Mumbai Vs. Taxation Department, Star House, C-5, 'G'-Block, BKC, Bandra (E), Mumbai - 400051 (PAN: AAACB0472C) (Appellant) (Respondent) Pres…

Bank of India, Mumbai vs. The ACIT-2(1)(1), Mumbai

ITA 1397/MUM/2023[2013-14]Status: DisposedITAT Mumbai23 Dec 2025AY 2013-14

Bench: Ms. Suchitra Raghunath Kamble & Shri Girish Agrawal

Section 10Section 115JSection 143(3)Section 14ASection 90

…IN THE INCOME TAX APPELLATE TRIBUNAL "I" BENCH MUMBAI BEFORE MS. SUCHITRA RAGHUNATH KAMBLE, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA No. 1397/MUM/2023 Assessment Year: 2013-14 Bank Of India 8th Floor, Taxation Department, Star House, C-5, 'G'-Block, BKC, Bandra (E), Mumbai - 400051 (PAN: AAACB0472C) (Assessee) Vs. Assistant Commissioner of Income-tax-2(1)(1), Mumbai (Respondent) ITA No. 1549/MUM/2023 Assessment Year: 2013-14 Assistant Commissioner of Income-tax-2(1)(1), Mumbai Bank Of India 8th Floor, Vs. Taxation Department, Star House, C-5, 'G'-Block, BKC, Bandra (E), Mumbai - 40005…

Hincon Holdings Limited, Mumbai vs. ITO, Ward 15(2)(1), Mumbai

In the result, the appeal filed by the assessee stands allowed for statistical purposes

ITA 2961/MUM/2025[2017-18]Status: DisposedITAT Mumbai15 Dec 2025AY 2017-18

Bench: Hon’Ble Shri Sandeep Gosainhincon Holdings Ltd Vs. Ito, Ward 15(2)(1) Hincon House, Lbs Marg Mumbai. Vikhroli (W), Mumbai – 400 083 Pan/Gir No. Aaach2592M (Applicant) (Respondent)

Section 143(3)Section 14ASection 250Section 45

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH MUMBAI BEFORE HON’BLE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER Hincon Holdings Ltd Vs. ITO, Ward 15(2)(1) Hincon House, LBS Marg Mumbai. Vikhroli (W), Mumbai – 400 083 PAN/GIR No. AAACH2592M (Applicant) (Respondent) Assessee by Ms. Priyanka Jain Revenue by Shri Pravin Salunkhe, Sr. DR Date of Hearing 11.11.2025 Date of Pronouncement 15.12.2025 आदेश / ORDER PER SANDEEP GOSAIN, JM: The present appeal has been filed by the assessee challenging the impugned order 25.09.2024 passed u/s 250 of the Income Tax Act, 1961 (‘the Act’), by the National Faceless Appeal Centre,…

JCIT OSD Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2260/MUM/2025[2021-22]Status: DisposedITAT Mumbai06 Oct 2025AY 2021-22

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)

Section 143(3)Section 144Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 1555/MUM/2025 (A.Y. 2019-20) ITA No. 1573/MUM/2025 (A.Y. 2020-21) HDFC Bank Limited v/s. Deputy Commissioner of HDFC Bank House, Senapati बनाम Income Tax - 2(3)(1), Room Bapat Marg, Delisle Road S.O., Lower Parel, Mumbai-400013, Maharashtra No. 552, Aaykar Bhavan, New Marine Lines, Mumbai 400020, Maharashtra Appellant/अपीलार्थी .. Respondent/प्रतिवादी स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACH2702H ITA No. 2259/MUM/2025 (A.Y. 2019-20) ITA No. 2258/MUM/20…

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2259/MUM/2025[2019-20]Status: DisposedITAT Mumbai06 Oct 2025AY 2019-20

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

Section 143(3)Section 144Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL“E” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 1555/MUM/2025 (A.Y. 2019-20) ITA No. 1573/MUM/2025 (A.Y. 2020-21) HDFC Bank Limited v/s. Deputy Commissioner of HDFC Bank House, Senapati बनाम Income Tax 2(3)(1), Room Bapat Marg, Delisle Road S.O., Lower Parel, Mumbai-400013, Maharashtra No. 552, Aaykar Bhavan, New Marine Lines, Mumbai 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACH2702H Respondent/प्रतिवादी Appellant/अपीलार्थी .. ITA No. 2259/MUM/2025 (A.Y. 2019-20) ITA No. 2258/MUM/2025 (…

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

In the result, both the above stated appeals of the

ITA 2258/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Oct 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)

Section 143(3)Section 144Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL“E” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 1555/MUM/2025 (A.Y. 2019-20) ITA No. 1573/MUM/2025 (A.Y. 2020-21) HDFC Bank Limited v/s. Deputy Commissioner of HDFC Bank House, Senapati बनाम Income Tax 2(3)(1), Room Bapat Marg, Delisle Road S.O., Lower Parel, Mumbai-400013, Maharashtra No. 552, Aaykar Bhavan, New Marine Lines, Mumbai 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACH2702H Appellant/अपीलार्थी .. Respondent/प्रतिवादी ITA No. 2259/MUM/2025 (A.Y. 2019-20) ITA No. 2258/MUM/2025 (…

Hdfc Bank Limited, Mumbai vs. DCIT - 2 (3) (1), Mumbai

In the result, both the above stated appeals of the

ITA 1573/MUM/2025[2020-21]Status: DisposedITAT Mumbai06 Oct 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)

Section 143(3)Section 144Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL“E” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 1555/MUM/2025 (A.Y. 2019-20) ITA No. 1573/MUM/2025 (A.Y. 2020-21) HDFC Bank Limited v/s. Deputy Commissioner of HDFC Bank House, Senapati बनाम Income Tax 2(3)(1), Room Bapat Marg, Delisle Road S.O., Lower Parel, Mumbai-400013, Maharashtra No. 552, Aaykar Bhavan, New Marine Lines, Mumbai 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACH2702H Appellant/अपीलार्थी .. Respondent/प्रतिवादी ITA No. 2259/MUM/2025 (A.Y. 2019-20) ITA No. 2258/MUM/20…

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax - 2 (3) (1), Mumbai

ITA 1555/MUM/2025[2019-20]Status: DisposedITAT Mumbai06 Oct 2025AY 2019-20

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Yogesh Thar, ARFor Respondent: Shri Ritesh Misra, (CIT-DR)

Section 143(3)Section 144Section 14A

…IN THE INCOME-TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER ITA No. 1555/MUM/2025 (A.Y. 2019-20) ITA No. 1573/MUM/2025 (A.Y. 2020-21) HDFC Bank Limited v/s. Deputy Commissioner of HDFC Bank House, Senapati बनाम Income Tax 2(3)(1), Room Bapat Marg, Delisle Road S.O., Lower Parel, Mumbai-400013, Maharashtra No. 552, Aaykar Bhavan, New Marine Lines, Mumbai 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAACH2702H Respondent/प्रतिवादी Appellant/अपीलार्थी .. ITA No. 2259/MUM/2025 (A.Y. 2019-20) ITA No. 2258/MUM/2025…

G R N Finsec Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Mumbai

In the result, the appeal filed by the assessee in ITA No

ITA 5341/MUM/2024[2016-17]Status: DisposedITAT Mumbai26 Aug 2025AY 2016-17

Bench: Shri Vikram Singh Yadav & Shri Sandeep Gosain

For Appellant: Shri Madhur Agrawal &For Respondent: Shri Swapnil Choudhary

Section 143(3)Section 14ASection 36(1)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “G” BENCH : MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner of Income Tax, 5329/Mum/2024 2015-16 Circle-1(1)(2), GRN Finsec Private 533, 5th Floor, Limited, Aayakar Bhavan, 815, Tulsiani Chambers, Maharshi Karve Road, 212, Nariman Point, Mumbai-400020. Mumbai-400021. Asst. [PAN: AAFCM2069R] Commissioner of 5341/Mum/2024 2016-17 Income Tax, Aayakar Bhavan, Maharshi Karve Road, Mumbai-400020. Assessee by : Shri Madhur Agrawal & Shri Fenil Bhatt Revenue by : Shri Swapn…

G R N Finsec Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Circle 1(1)(2), Mumbai

In the result, the appeal filed by the assessee in ITA No

ITA 5329/MUM/2024[2015-16]Status: DisposedITAT Mumbai26 Aug 2025AY 2015-16

Bench: Shri Vikram Singh Yadav & Shri Sandeep Gosain

For Appellant: Shri Madhur Agrawal &For Respondent: Shri Swapnil Choudhary

Section 143(3)Section 14ASection 36(1)Section 36(1)(iii)

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “G” BENCH : MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN, JUDICIAL MEMBER ITA No. A.Y. Appellant Respondent Deputy Commissioner of Income Tax, 5329/Mum/2024 2015-16 Circle-1(1)(2), GRN Finsec Private 533, 5th Floor, Limited, Aayakar Bhavan, 815, Tulsiani Chambers, Maharshi Karve Road, 212, Nariman Point, Mumbai-400020. Mumbai-400021. Asst. [PAN: AAFCM2069R] Commissioner of 5341/Mum/2024 2016-17 Income Tax, Aayakar Bhavan, Maharshi Karve Road, Mumbai-400020. Assessee by : Shri Madhur Agrawal & Shri Fenil Bhatt Revenue by : Shri Swapn…

Dbs Bank Ltd (Dbs Bank Ltd., India Branches Now Converted Into Dbs Bank India Ltd), Mumbai vs. DCIT (Int Txt)-2(1)(2), Mumbai

In the result, appeal of the assessee in ITA No

ITA 3691/MUM/2023[2015-16]Status: DisposedITAT Mumbai21 Nov 2024AY 2015-16

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sunil Kumar Singh, Hon’Ble

For Appellant: Shri P.J. Pardiwala/Shri Madhur Agarwal, A/RsFor Respondent: Shri Vivek Permpurna, CIT, D/R

Section 143(3)Section 14ASection 28Section 36Section 36(1)(vii)Section 36(1)(viia)Section 36(2)Section 37(1)Section 44C

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI SUNIL KUMAR SINGH, HON’BLE JUDICIAL MEMBER I.T.A. No. 3691/Mum/2023 Assessment Year: 2015-16 DBS Bank Ltd. Officer of the Deputy (DBS Bank Ltd. India branches Commissioner of Income Tax Vs (International taxation) -2(1)(2) now converted into wholly owned subsidiary DBS Bank India Limited) First Floor, Express Tower Nariman Point Mumbai - 400021 [PAN: AAACT 4652 J] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) I.T.A. No. 4722/Mum/2023 Assessment Year: 2015-…

Infina Finance Private Limited, Mumbai vs. ACIT Circle 2(2)(1), Mumbai

In the result, the captioned appeals are allowed for statistical purposes

ITA 414/MUM/2024[2018-2019]Status: DisposedITAT Mumbai16 Oct 2024AY 2018-2019

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

For Appellant: Shri Madhur Agarwal, A/RFor Respondent: Shri Krishna Kumar, Sr. D/R

Section 14A

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI RAJ KUMAR CHAUHAN, HON’BLE JUDICIAL MEMBER I.T.A. No. 413/Mum/2024 Assessment Year: 2020-2021 Infina Finance Private Limited NeAC, Delhi 7th Floor, Dani Corporate Park Vs 158 CST Road, Kalina Santacruz East Maharashtra - 400098 [PAN: AACCM1561D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) I.T.A. No. 414/Mum/2024 Assessment Year: 2018-19 Infina Finance Private Limited ACIT, Circle-2(2)(1), Mumbai 7th Floor, Dani Corporate Park Vs 158 CST Road, Kalina Santac…

Infina Finance Private Limited, Mumbai vs. Neac, Delhi

In the result, the captioned appeals are allowed for statistical purposes

ITA 413/MUM/2024[2020-2021]Status: DisposedITAT Mumbai16 Oct 2024AY 2020-2021

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

For Appellant: Shri Madhur Agarwal, A/RFor Respondent: Shri Krishna Kumar, Sr. D/R

Section 14A

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI RAJ KUMAR CHAUHAN, HON’BLE JUDICIAL MEMBER I.T.A. No. 413/Mum/2024 Assessment Year: 2020-2021 Infina Finance Private Limited NeAC, Delhi 7th Floor, Dani Corporate Park Vs 158 CST Road, Kalina Santacruz East Maharashtra - 400098 [PAN: AACCM1561D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) I.T.A. No. 414/Mum/2024 Assessment Year: 2018-19 Infina Finance Private Limited ACIT, Circle-2(2)(1), Mumbai 7th Floor, Dani Corporate Park Vs 158 CST Road, Kalina Santac…

ACIT, Cir-2(1)(1), Mumbai vs. M/S. Bank of India, Mumbai

The appeal is dismissed and appeal of assessee is allowed

ITA 1228/MUM/2023[2011-12]Status: DisposedITAT Mumbai21 Dec 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhry, Jm M/S Bank Of India Acit, Circle 2(1)(1) Room No.575, 5Th Floor, C5 Block Star House, Bandra Kurla Complex, Aaykar Bhavan, Vs. M.K. Road, Bandra East, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacb0472C M/S Bank Of India Acit, Circle 2(1)(1) C5 Block Star House, Room No.575, 5Th Floor, Bandra Kurla Complex, Aaykar Bhavan, Vs. Bandra East, M.K. Road, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Mr . C Naresh Ca Revenue By : Shri Sanjay Deshmukh Cit Dr & Shri P D Chougule, Addl. Cit Date Of Hearing: 3/7/2023 & 08.12.2023 Date Of Pronouncement : 21.12.2023

For Appellant: Mr . C Naresh CAFor Respondent: Shri Sanjay Deshmukh CIT DR and Shri P D Chougule, Addl

Section 14Section 143(3)Section 14ASection 244ASection 254

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI NARENDER KUMAR CHOUDHRY, JM M/s Bank of India ACIT, Circle 2(1)(1) Room No.575, 5th Floor, C5 Block Star House, Bandra Kurla Complex, Aaykar Bhavan, Vs. M.K. Road, Bandra East, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) PAN No. AAACB0472C M/s Bank of India ACIT, Circle 2(1)(1) C5 Block Star House, Room No.575, 5th Floor, Bandra Kurla Complex, Aaykar Bhavan, Vs. Bandra East, M.K. Road, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee by : Mr . C Naresh CA Revenue by : Shri Sanjay Deshmukh…

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

The appeal is dismissed and appeal of assessee is allowed

ITA 1094/MUM/2023[2011-12]Status: DisposedITAT Mumbai21 Dec 2023AY 2011-12

Bench: Shri Prashant Maharishi, Am & Shri Narender Kumar Choudhry, Jm M/S Bank Of India Acit, Circle 2(1)(1) Room No.575, 5Th Floor, C5 Block Star House, Bandra Kurla Complex, Aaykar Bhavan, Vs. M.K. Road, Bandra East, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Pan No. Aaacb0472C M/S Bank Of India Acit, Circle 2(1)(1) C5 Block Star House, Room No.575, 5Th Floor, Bandra Kurla Complex, Aaykar Bhavan, Vs. Bandra East, M.K. Road, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee By : Mr . C Naresh Ca Revenue By : Shri Sanjay Deshmukh Cit Dr & Shri P D Chougule, Addl. Cit Date Of Hearing: 3/7/2023 & 08.12.2023 Date Of Pronouncement : 21.12.2023

For Appellant: Mr . C Naresh CAFor Respondent: Shri Sanjay Deshmukh CIT DR and Shri P D Chougule, Addl

Section 14Section 143(3)Section 14ASection 244ASection 254

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI NARENDER KUMAR CHOUDHRY, JM M/s Bank of India ACIT, Circle 2(1)(1) Room No.575, 5th Floor, C5 Block Star House, Bandra Kurla Complex, Aaykar Bhavan, Vs. M.K. Road, Bandra East, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) PAN No. AAACB0472C M/s Bank of India ACIT, Circle 2(1)(1) C5 Block Star House, Room No.575, 5th Floor, Bandra Kurla Complex, Aaykar Bhavan, Vs. Bandra East, M.K. Road, Mumbai-400 020 Mumbai-400 051 (Appellant) (Respondent) Assessee by : Mr . C Naresh CA Revenue by : Shri Sanjay Deshmukh…

Bank of India, Mumbai vs. The Assistant Commissioner of Income Tax-2(1)(1), Mumbai

In the result, appeal of the Revenue is dismissed

ITA 929/MUM/2023[2012-13]Status: DisposedITAT Mumbai28 Jun 2023AY 2012-13

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआअसं.929/मुं/ 2023 ("न.व.2012-13) Bank Of India, 8Th Floor, Taxation Department, Star House, C-5, G.Block, Badra –Kurla Complex, Bandra (East), Mumbai 400 051 Pan: Aaacb-0472-C ...... अपीलाथ" /Appellant बनाम Vs. The Asstt. Commissioner Of Income Tax 2(1)(1),Mumbai. Mumbai. ..... ""तवाद"/Respondent आअसं.973/मुं/ 2023 ("न.व.2012-13) The Asstt. Commissioner Of Income Tax 2(1)(1),Mumbai. Mumbai. ...... अपीलाथ" /Appellant बनाम Vs. Bank Of India, 8Th Floor, Taxation Department, Star House, C-5, G.Block, Badra –Kurla Complex, Bandra (East), Mumbai 400 051 Pan: Aaacb-0472-C ..... ""तवाद"/Respondent Assessee By : Shri C. Naresh Revenue By : Shri H.N.Singh, Cit-Dr सुनवाई क" "त"थ/ Date Of Hearing : 27/06/2023 घोषणा क" "त"थ/ Date Of Pronouncement : 28/06/2023

For Appellant: Shri C. NareshFor Respondent: Shri H.N.Singh, CIT-DR

Section 10Section 14ASection 90

…आयकर अपील"य अ"धकरण मुंबई पीठ “बी ”, मुंबई पीठ "ी "वकास अव"थी, "या"यक सद"य एवं "ी गगन गोयल, लेखाकार सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “B ”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER आअसं.929/मुं/ 2023 ("न.व.2012-13) Bank of India, 8th Floor, Taxation Department, Star House, C-5, G.Block, Badra –Kurla Complex, Bandra (East), Mumbai 400 051 PAN: AAACB-0472-C ...... अपीलाथ" /Appellant बनाम Vs. The Asstt. Commissioner of Income Tax 2(1)(1),Mumbai. Mumbai. ..... ""तवाद"/Respondent आअसं.973/मुं/ 2023 ("न.व.2012-13) The Asstt. Commissioner of I…

PCIT v. Punjab National Bank

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Judgments citing PCIT v. Punjab National Bank

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

Bank of India, Mumbai vs. The National Faceless Assessment Centre, Mumbai

Bank of India, Mumbai vs. ACIT-2(1)(2), Mumbai

ACIT, Circle-2(1)(1), Mumbai vs. M/S Bank of India, Mumbai

Bank of India, Mumbai vs. The ACIT-2(1)(1), Mumbai

Hincon Holdings Limited, Mumbai vs. ITO, Ward 15(2)(1), Mumbai

JCIT OSD Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

JCIT(OSD) Circle 2(3)(1), Mumbai vs. Hdfc Bank Limited, Mumbai

Hdfc Bank Limited, Mumbai vs. DCIT - 2 (3) (1), Mumbai

Hdfc Bank Limited, Mumbai vs. The Deputy Commissioner of Income Tax - 2 (3) (1), Mumbai

G R N Finsec Private Limited, Mumbai vs. Assistant Commissioner of Income Tax, Mumbai

G R N Finsec Private Limited, Mumbai vs. Deputy Commissioner of Income Tax - Circle 1(1)(2), Mumbai

Dbs Bank Ltd (Dbs Bank Ltd., India Branches Now Converted Into Dbs Bank India Ltd), Mumbai vs. DCIT (Int Txt)-2(1)(2), Mumbai

Infina Finance Private Limited, Mumbai vs. ACIT Circle 2(2)(1), Mumbai

Infina Finance Private Limited, Mumbai vs. Neac, Delhi

ACIT, Cir-2(1)(1), Mumbai vs. M/S. Bank of India, Mumbai

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

Bank of India, Mumbai vs. The Assistant Commissioner of Income Tax-2(1)(1), Mumbai