South India Bank 438 ITR 1 and CIT v. UTI Bank

447 ITR 662Supreme Court of India2022#17928 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2023 to 2026.

Sections most often in play

Section 14ASection 10(15)Section 10(34)Section 10(35)Section 10B(2)(b)Section 145Section 23(1)(a)Section 32(1)

Issues it is cited on

section 14a disallowanceannual valuesection 36(1)(vii)disallowance under section 14asection 145section 254section 14asection 36(1)section 36section 23section 25transfer

Judgments citing South India Bank 438 ITR 1 and CIT v. UTI Bank

ACIT, Mumbai vs. Raheja Universal Pvt Limited, Mumbai

ITA 5344/MUM/2025[2018-19]Status: DisposedITAT Mumbai03 Feb 2026AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan ()

Section 143(2)Section 143(3)Section 14ASection 14A(2)Section 36(2)

…ld that the provisions cannot be treated to be retrospective. Hence, the claim of the appellant that disallowance w/s. 14A cannot exceed the exempt income is backed by judicial precedence and binding in nature. 11.3.In the case of CIT v. UTI Bank Ltd., [2022) 447 ITR 662 (SC), the Hon'ble Supreme Court upheld the proposition that where interest free own funds available with assessee exceeded their investments in tax-free securities, investments would be presumed to be made out of assessee's own funds and proportionate disallowance was not warranted under section 14A. Similar view was taken by the Hon'ble Apex Cou…

DCIT 2(3)(2), Mumbai vs. Icici Bank Ltd, Mumbai

In the result, ground no. 3 of appeal of

ITA 1550/MUM/2016[2009-10]Status: DisposedITAT Mumbai21 Nov 2025AY 2009-10

Bench: Shri Pawan Singh & Shri Girish Agrawal(Physical Hearing) Icici Bank Limited, Dcit, 2(3)(2), Mumbai, Icici Bank Towers, North East Wing, Vs Aayakarbhavan, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue (Physical Hearing) Dcit, 2(3)(2), Mumbai, Icici Bank Limited Aayakar Bhavan, Vs Icici Bank Towers, North East Wing, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue

Section 10(15)Section 14ASection 254(1)Section 92CSection 92C(3)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER (Physical hearing) ICICI Bank Limited, DCIT, 2(3)(2), Mumbai, ICICI Bank Towers, North East Wing, Vs AayakarBhavan, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] Appellant / Assessee Respondent / Revenue (Physical hearing) DCIT, 2(3)(2), Mumbai, ICICI Bank Limited Aayakar Bhavan, Vs ICICI Bank Towers, North East Wing, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] App…

Icici Bank Ltd, Mumbai vs. DCIT 2(3)(2), Mumbai

In the result, ground no. 3 of appeal of

ITA 4418/MUM/2015[2009-10]Status: DisposedITAT Mumbai21 Nov 2025AY 2009-10

Bench: Shri Pawan Singh & Shri Girish Agrawal(Physical Hearing) Icici Bank Limited, Dcit, 2(3)(2), Mumbai, Icici Bank Towers, North East Wing, Vs Aayakarbhavan, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue (Physical Hearing) Dcit, 2(3)(2), Mumbai, Icici Bank Limited Aayakar Bhavan, Vs Icici Bank Towers, North East Wing, 1St Floor, Bandrakurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [Pan No. Aaaci1195H] Appellant / Assessee Respondent / Revenue

Section 10(15)Section 14ASection 254(1)Section 92CSection 92C(3)(c)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER (Physical hearing) ICICI Bank Limited, DCIT, 2(3)(2), Mumbai, ICICI Bank Towers, North East Wing, Vs AayakarBhavan, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] Appellant / Assessee Respondent / Revenue (Physical hearing) DCIT, 2(3)(2), Mumbai, ICICI Bank Limited Aayakar Bhavan, Vs ICICI Bank Towers, North East Wing, 1st Floor, BandraKurla Complex, Mumbai – 400020. Bandra (East), Mumbai – 400051. [PAN No. AAACI1195H] App…

Anamika Conductors Pvt. Ltd., Jaipur vs. ACIT DCIT, Jaipur

In the result, the appeals of the assessee are allowed with no orders as to cost

ITA 40/JPR/2024[A.Y. 2015-16]Status: DisposedITAT Jaipur30 Sept 2024

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri G.M. Mehta, CAFor Respondent: Shri Anoop Singh, Addl. CIT-DR
Section 145(3)Section 14A

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B’ JAIPUR JhlanhixkslkbZ]U;kf;dlnL; ,oaJhjkBksMdeys'kt;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: SHRI SANDEEP GOSAIN, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 40 & 41/JP/2024 fu/kZkj.k o"kZ@Assessment Year : 2015-16 & 2016-17 cuke M/s. Anamika Conductors (P) Ltd The ACIT Vs. B-70, Upasana Tower, Rajendra Marg Circle-6 Bapu Nagar, Jaipur 302 015 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCA 5681 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri G.M. Mehta, C…

Truworth Infotech Private Limited, Jaipur vs. Income Tax Officer, Ward-2(2), Jaipur

In the result, the appeal of the assessee is allowed

ITA 79/JPR/2023[2014-15]Status: DisposedITAT Jaipur04 Jul 2023AY 2014-15

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri S.R. Sharma, CA &For Respondent: Mrs. Monisha Choudhary, Addl. CIT-DR
Section 115JSection 143(2)Section 143(3)Section 14A

…unds and the assessee has available, own non-interest bearing funds larger than the investments made in tax-free securities, then in such cases, disallowance under section 14A cannot be made. The Supreme Court against in case of CIT-1 VS. UTI Bank Ltd. (2022) 447 ITR 662/289 Taxmann 238 held that the legal issue relating to disallowance under section 14A was squarely covered by order of Supreme Court in South Indian Bank Ltd. V. CIT [2021] 130 taxmann.com 178/283 Taxman 178/438 ITR 1/10 SCC 153 wherein it was held that since interest free own funds available with the assessee exceeded their investments in tax-fre…

South India Bank 438 ITR 1 and CIT v. UTI Bank (447 ITR 662) — Cited in 5 Judgments | BharatTax