Pragathi Krishna Gramin Bank v. JCIT

95 Taxmann.com 41High Court2018#1773 most cited

What is Pragathi Krishna Gramin Bank v. JCIT authority for?

No disallowance under Section 14A of the Income-tax Act is warranted when the assessee's own interest-free funds are sufficient to cover the tax-free investments made.

64

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2019 to 2025.

Also referred to as

Pragathi Krishna Gramin Bank v JCIT · Section 14A · Section 8D · disallowance of expenditure · exempt income · tax-free investments · own funds · interest-free funds · no disallowance 14A · Karnataka High Court

Sections most often in play

Section 14ASection 8DSection 143(2)Section 143(3)Section 10(34)Section 10ASection 10AASection 115JB
Read the full judgment

Issues it is cited on

section 92b(1)section 92(1)legal expensesretrospective amendmentcorporate guaranteesection 115jb(2)arms length pricesection 92bdisallowance of interest expendituresection 139(5)management feescup method

Judgments citing Pragathi Krishna Gramin Bank v. JCIT

M/S. Windsor Gardens Private Limited, Bangalore vs. The Assistant Commissioner of Income Tax, Circle- 7(1)(2), Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 2599/BANG/2019[2013-14]Status: DisposedITAT Bangalore17 Sept 2020AY 2013-14

Bench: Shri A.K. Garodia & Shri George George Km/S.Windsor Gardens Pvt. Ltd., No.81, 36Th Cross, 6Th Main, 5Th Block, Jayanagar, Bangalore-560 041 ….Appellant. Pan Aaacw 3001E Vs. Assistant Commissioner Of Income Tax, Circle 7(1)(2), Bangalore. ……Respondent. Assessee By: Smt.Suman Lunkar, C.A. Revenue By: Dr. A. Shankar Prasad K, Addl. Cit.

For Appellant: Smt.Suman Lunkar, C.AFor Respondent: Dr. A. Shankar Prasad K, Addl. CIT
Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “ A ” BENCH: BANGALORE BEFORE SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K, JUDICIAL MEMBER M/s.Windsor Gardens Pvt. Ltd., No.81, 36th Cross, 6th Main, 5th Block, Jayanagar, Bangalore-560 041 ….Appellant. PAN AAACW 3001E Vs. Assistant Commissioner of Income Tax, Circle 7(1)(2), Bangalore. ……Respondent. Assessee By: Smt.Suman Lunkar, C.A. Revenue By: Dr. A. Shankar Prasad K, Addl. CIT. Date of Hearing : 16.09.2020. Date of Pronouncement : 17.09.2020. O R D E R PER SHRI GEORGE GEORGE K, JM : This appeal at the instance of assessee is direct…

M/S. United Spirits Limted, Bangalore vs. Joint Commissioner of Income Tax, Special Range-7, Bangalore

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

ITA 300/BANG/2020[2011-12]Status: DisposedITAT Bangalore24 Jun 2020AY 2011-12

Bench: Shri N.V. Vasudevan & Shri B R Baskaranassessment Year : 2011-12

For Appellant: Shri C. Narayan, CAFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B R BASKARAN, ACCOUNTANT MEMBER Assessment year : 2011-12 United Spirits Limited, Vs. The Joint Commissioner of UB Tower, 10th Floor, Income Tax, No.24, Vittal Mallya Road, Special Range – 7, Bangalore – 560 001. Bangalore. PAN: AACCM 8043J APPELLANT RESPONDENT Appellant by : Shri C. Narayan, CA Respondent by : Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru. Date of hearing : 18 .06.2020 Date of Pronouncement : 24.06.2020 O R D E R Per N.V. Vasudevan, Vice President This is an appeal by the assess…

M/S. United Spirits Limited, Bangalore vs. Deputy Commissioner of Income Tax, Bangalore

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

ITA 489/BANG/2017[2012-13]Status: DisposedITAT Bangalore29 May 2020AY 2012-13

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadaleit(Tp)A No.489/Bang/2017 (Assessment Year: 2012-13) M/S. United Spirits Limited, Ub Towers, No.24, Vittal Mallya Road, Bangalore-560 001 ….Appellant Vs. Dy. Commissioner Of Income Tax, Circle 7(1)(1), Bangalore. ……Respondent. Assessee By: Shri Perci Pardiwala, Senior Advocate & Shri Ketan Ved, C.A. Revenue By: Shri Bipin C.N, Jcit (D.R) Date Of Hearing : 06.03.2020. Date Of Pronouncement : 29.05.2020. O R D E R Per Shri B.R. Baskaran, A.M. : The Assessee Has Filed This Appeal Challenging The Assessment Order Dated 31-01-2017 Passed By The Assessing Officer For Assessment Year 2012-13 Passed U/S 143(3) R.W.S 144C(13) Of The Act.

For Appellant: Shri Perci Pardiwala, Senior Advocate and Shri Ketan Ved, C.AFor Respondent: Shri Bipin C.N, JCIT (D.R)
Section 143(3)Section 144C(10)Section 144C(13)Section 14ASection 154Section 36(1)(iii)Section 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “ C ” BENCH: BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER IT(TP)A No.489/Bang/2017 (Assessment Year: 2012-13) M/s. United Spirits Limited, UB Towers, No.24, Vittal Mallya Road, Bangalore-560 001 ….Appellant Vs. Dy. Commissioner of Income Tax, Circle 7(1)(1), Bangalore. ……Respondent. Assessee By: Shri Perci Pardiwala, Senior Advocate and Shri Ketan Ved, C.A. Revenue By: Shri Bipin C.N, JCIT (D.R) Date of Hearing : 06.03.2020. Date of Pronouncement : 29.05.2020. O R D E R PER SHRI B.R. BASKARAN, A.M. : The…

M/S. Microfinish Pumps Private Limited, Hubli vs. ACIT-Circle-2(1), Hubli

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

ITA 801/BANG/2016[2011-12]Status: DisposedITAT Bangalore30 Apr 2019AY 2011-12

Bench: Shri B.R. Baskaran & Shri Pavan Kumar Gadaleassessment Year : 2011-12 M/S. Microfinish Pumps Private Limited, The Assistant Special Plot, Industrial Commissioner Of Estate, Vs. Income Tax, Gokul Road, Circle – 2 (1), Hubli – 580 030. Hubli. Pan: Aabcm5152B Appellant Respondent Assessee By : Shri Ravishankar S.V, Advocate Revenue By : Dr. P.V. Pradeep Kumar, Addl. Cit (Dr)

For Appellant: Shri Ravishankar S.V, AdvocateFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 10Section 143(1)Section 143(2)Section 143(3)Section 14ASection 195Section 195(2)Section 40Section 90(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment Year : 2011-12 M/s. Microfinish Pumps Private Limited, The Assistant Special Plot, Industrial Commissioner of Estate, vs. Income Tax, Gokul Road, Circle – 2 (1), Hubli – 580 030. Hubli. PAN: AABCM5152B APPELLANT RESPONDENT Assessee by : Shri Ravishankar S.V, Advocate Revenue by : Dr. P.V. Pradeep Kumar, Addl. CIT (DR) Date of hearing : 28.03.2019 Date of Pronouncement : 30.04.2019 O R D E R Per Shri Pavan Kumar Gadale, Judicial Member The assessee has fi…