Shri Siddheshwari Co-operative Bank Ltd. v. JCIT

388 ITR 588High Court#17812 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 115JB Section 14A Section 36(1)(iii)Section 36(1)(vii)Section 36(1)(viia)Section 37 Section 40(a)(ii)

Judgments citing Shri Siddheshwari Co-operative Bank Ltd. v. JCIT

ACIT-3(4), Mumbai vs. Union Bank of India ( Erstwhile Corporation Bank), Mumbai

In the result both the appeals filed by the revenue are partly allowed

ITA 1228/MUM/2024[2020-21]Status: DisposedITAT Mumbai20 Jan 2025AY 2020-21

Bench: Shri.B.R. Baskaran & Shri Anikesh Banerjee

For Appellant: Shri Ananthan S / Ms. LalithaFor Respondent: ShriAshish Heliwal, CIT DR

Section 115JSection 143(3)Section 14ASection 250Section 251(1)(a)Section 36Section 36(1)(iii)Section 36(1)(vii)Section 36(1)(viia)

…oubtful debts. Accordingly, the addition made by the Ld. AO was deleted, and the deduction claimed by the assessee was allowed. A similar view was also taken by the Hon’able Karnataka High Court in the case of Shri Siddheshwari Co-operative Bank Ltd. vs JCIT, 388 ITR 588 (Kar). 5.1. The Ld. DR did not strongly oppose the submissions made by the Ld. AR. 6. In view of the judicial precedents, we concur with the findings of the Ld. CIT(A), who observed that the issue is directly covered by the decisions of the Hon’ble Karnataka High Court. The Act permits such deductions, considering that unrealized debts should be…

Sri Kanyakaparameswari Co-Operative Bank Limited vs. The Joint Commissioner of Income-Tax

In the result, the appeal is disposed of

ITA/791/2017HC Karnataka27 Jul 2021

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Section 260Section 260ASection 36(1)(viii)

…1 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF JULY 2021 PRESENT THE HON’BLE MR. JUSTICE ALOK ARADHE AND THE HON’BLE MR. JUSTICE HEMANT CHANDANGOUDAR I.T.A. NO.791 OF 2017 BETWEEN: SRI. KANYAKAPARAMESWARI CO-OPERATIVE BANK LIMITED REP. BY ITS GENERAL MANAGER IN-CHARGE SRI. K.N. NAGARAJ K.R. CIRCLE, MYSURU-570001 PAN:AACAS 1220 M. ... APPELLANT (BY SRI. A. SHANKAR, SR. COUNSEL FOR SRI. ANNAMALAI S, ADV.,) AND: THE JOINT COMMISSIONER OF INCOME-TAX, RANGE-1 INCOME TAX BUILDING #21/16, AAYKAR BHAVAN RESIDENCY ROAD, NAZARBAD MYSURU-570010. ... RESPONDENT (BY SRI.…

M/S. the Chitradurga District Co-Op Central Bank Ltd, Chitradurga vs. Deputy Commissioner of Income Tax, Circle-2(1), Davangere

In the result, both the appeals are dismissed

ITA 2120/BANG/2018[2012-13]Status: DisposedITAT Bangalore29 Sept 2020AY 2012-13

Bench: Shri N.V. Vasudevanand Shri B.R. Baskaran, Accoutant Member Assessmentyear: 2012-13

For Appellant: Shri Suresh Muthukrishnan, A.RFor Respondent: Smt. R. Premi, D.R

Section 145Section 194ASection 37Section 40

…has followed the decision rendered by the M/s. The Chitradurga District Co-Op. Central Bank Ltd., Chitradurga Page 4 of 9 jurisdictional High Court in the case of Canfin Homes Ltd. (supra) and also in the case of Siddeshwar Co-operative Bank Ltd. reported in 388 ITR 588. 10. On the contrary, the Ld. D.R. supported the order passed by the A.O. 11. We heard the parties on this issue and perused the record. We notice that the issue relating to addition of interest income accrued on non-performing assets has been considered by the coordinate bench in the assessee’s own case in assessment year 2009-10 & 2010-11 and…

Deputy Commissioner of Income Tax Circle-2(1), Davangere vs. The Chitradurga District Co-Op Bank Limited, Chitradurga

In the result, both the appeals are dismissed

ITA 1937/BANG/2018[2012-13]Status: DisposedITAT Bangalore29 Sept 2020AY 2012-13

Bench: Shri N.V. Vasudevanand Shri B.R. Baskaran, Accoutant Member Assessmentyear: 2012-13

For Appellant: Shri Suresh Muthukrishnan, A.RFor Respondent: Smt. R. Premi, D.R

Section 145Section 194ASection 37Section 40

M/S.Chitradurga District Co-Op. Central Bank Ltd., Chitradurga vs. Deputy Commissioner of Income-Tax, Davangere

In the result, the cross appeals for both the years are partly allowed

ITA 1522/BANG/2016[2010-11]Status: DisposedITAT Bangalore28 Sept 2017AY 2010-11

Bench: Shri Vijay Pal Rao & Shri Jason P Boazi.T. A. Nos.1522 & 1523/Bang/2016 (Assessment Years : 2009-10 & 2010-11) M/S. Chitradurga District Co-Op. Central Bank Ltd., Cdcc Bank Building, Chitradurga. …. Appellant. Vs. Dy. Commissioner Of Income Tax, Circle – 1, Davangere. ….. Respondent. I.T. A. Nos.1548 & 1549/Bang/2016 (Assessment Years : 2009-10 & 2010-11) Dy. Commissioner Of Income Tax, Circle – 2(1), Davangere. ….. Appellant. Vs. M/S. Chitradurga District Co-Op. Central Bank Ltd., Cdcc Bank Building, Chitradurga. …. Respondent.

For Appellant: Shri Suresh Muthukrishnan, CAFor Respondent: Shri M.K. Biju, JCIT (DR) (ITAT)-3, Bengaluru

…ion partially by following the decision of Hon'ble jurisdictional High Court in the case of CIT Vs. Canfin Homes 347 ITR 382. He has also relied upon the Hon'ble jurisdictional High Court in the case of CIT Vs. Siddeshwar Co-operative Bank Limited reported in 388 ITR 588. 5. We have heard the learned Departmental Representative as well as learned Authoised Representative and considered the relevant material on record. At the outset, we note that this issue is covered by the Hon'ble jurisdictional High Court in the case of CIT Vs. Canfin Homes (supra) however, the CIT (Appeals) has bifurcated NPAs by classifying t…