South Indian Bank Ltd. v. CIT

438 ITR 1Supreme Court of India2021#132 most cited

What is South Indian Bank Ltd. v. CIT authority for?

The mixed fund theory is affirmed, holding that no disallowance of interest expenditure under Section 14A can be made if the assessee possesses sufficient non-interest bearing funds, such as capital and reserves, to cover investments made in tax-free securities.

508

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2011 to 2026.

Also referred to as

South Indian Bank Ltd. v. CIT · South Indian Bank · 438 ITR 1 · Section 14A · disallowance of interest expenditure · mixed fund theory · non-interest bearing funds · tax-free investments · exempt income · Section 8D · expenditure relating to exempt income

Also reported as

130 Taxmann.com 178283 Taxmann 17810 SCC 153228 CTR 440

Sections most often in play

Section 14ASection 143(3)Section 115JBSection 8DSection 153ASection 36(1)(viia)Section 36(1)(vii)Section 36(1)(iii)
Read the full judgment

Issues it is cited on

section 10(33)section 80absection 10(15)section 80msection 54esection 14a(1)section 36(1)(viii)section 54ecsection 14a(2)section 36(1)(vii)disallowance under section 14adisallowance of interest expenditure

Judgments citing South Indian Bank Ltd. v. CIT

Thomas George Muthoot, Ernakulam vs. DCIT, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 894/COCH/2023[2016-17]Status: DisposedITAT Cochin23 May 2025AY 2016-17

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas George Muthoot, Trivandrum vs. Deputy Commissioner of Income Tax/Central Circle, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 893/COCH/2023[2015-16]Status: DisposedITAT Cochin23 May 2025AY 2015-16

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas George Muthoot, Trivandrum vs. Deputy Commissioner of Income Tax/Central Circle, Trivvandrum, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 892/COCH/2023[2014-15]Status: DisposedITAT Cochin23 May 2025AY 2014-15

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas George Muthoot, Ernakulam vs. Assisstant Commissioner of Income-Tax/Circle-1/Thiruvalla, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 891/COCH/2023[2013-14]Status: DisposedITAT Cochin23 May 2025AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas George Muthoot, Ernakulam vs. Joint Commissioner of Income-Tax, Thiruvalla Range, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 889/COCH/2023[2011-12]Status: DisposedITAT Cochin23 May 2025AY 2011-12

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Erankulam vs. DCIT, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 888/COCH/2023[2017-18]Status: DisposedITAT Cochin23 May 2025AY 2017-18

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Ernakulam vs. DCIT/Central Circle, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 887/COCH/2023[2016-17]Status: DisposedITAT Cochin23 May 2025AY 2016-17

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Ernakulam vs. DCIT/Central Circle, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 886/COCH/2023[2015-16]Status: DisposedITAT Cochin23 May 2025AY 2015-16

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Trivandrum vs. DCIT, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 885/COCH/2023[2014-15]Status: DisposedITAT Cochin23 May 2025AY 2014-15

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Ernakulam vs. DCIT, Circle 1, Thiruvalla

In the result, the appeal filed by the assessee stands dismissed

ITA 884/COCH/2023[2013-14]Status: DisposedITAT Cochin23 May 2025AY 2013-14

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Ernakulam vs. DCIT, Thiruvalla

In the result, the appeal filed by the assessee stands dismissed

ITA 883/COCH/2023[2012-13]Status: DisposedITAT Cochin23 May 2025AY 2012-13

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Thomas Muthoot, Ernakulam vs. Joint Commissioner of Income Tax, Thiruvalla Range, Trivandrum

In the result, the appeal filed by the assessee stands dismissed

ITA 882/COCH/2023[2011-12]Status: DisposedITAT Cochin23 May 2025AY 2011-12

Bench: Shri Inturi Rama Rao, Am & Shri Prakash Chand Yadav, Jm

For Appellant: Shri R. Krishnan, CAFor Respondent: Shri Sundarasan S. CIT-DR &
Section 143(3)Section 14A

…accordingly he gave up this contention. However, he submits that that the AO cannot resort to provisions of section 14A, as the own funds far exceed the cost of investments. In view of the decision of the Hon'ble Supreme Court in the case of South Indian Bank 438 ITR 1 the matter may be restored to the file of the AO to decide the applicability of provisions of section 14A of the Act. 8. On the other hand, the CIT-DR vehemently opposed the above contentions and submits that the appellant never took this plea before the lower authorities. 9. We have heard the rival contentions and perused the material available…

Asst. Commissioner of Income Tax 8(2)(1) Mumbai, Mumbai vs. Ms. Piramal Enterprises Limited, Mumbai

In the result, all the three appeals of the assessee are partly allowed and appeal of the Revenue is dismissed

ITA 2589/MUM/2024[2008-09]Status: DisposedITAT Mumbai21 May 2025AY 2008-09

Bench: Smt. Beena Pillai & Shri Girish Agrawal

For Appellant: Shri Ronak Doshi, CAFor Respondent: Shri R.A. Dhyani, CIT DR
Section 115JSection 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos. 2582, 2584 and 2588/MUM/2024 Assessment Years: 2010-11, 2009-10 and 2008-09 Piramal Enterprises Ltd., Deputy CIT- 8(2)(1)/Asst. CIT- Piramal Ananta, Agastya 7(3)(2), Mumbai Corporate Park, Kamani Junc, LBS Marg, Vs. Mumbai -400 070 (PAN : AAACN4538P) (Appellant) (Respondent) Assessment Year: 2008-09 Assistant Commissioner of Piramal Enterprises Ltd., Income Tax – 8(2)(1), 10, Piramal Tower, Mumbai Ganpatrao Kadam Marg, Vs. Lower Parel, Mumbai – 400013 (PAN : AA…

Piramal Enterprises Limited, Mumbai vs. The Assistant Commissioner of Income Tax Circle 7(3)(2), Mumbai

In the result, all the three appeals of the assessee are partly allowed and appeal of the Revenue is dismissed

ITA 2588/MUM/2024[2008-09]Status: DisposedITAT Mumbai21 May 2025AY 2008-09

Bench: Smt. Beena Pillai & Shri Girish Agrawal

For Appellant: Shri Ronak Doshi, CAFor Respondent: Shri R.A. Dhyani, CIT DR
Section 115JSection 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos. 2582, 2584 and 2588/MUM/2024 Assessment Years: 2010-11, 2009-10 and 2008-09 Piramal Enterprises Ltd., Deputy CIT- 8(2)(1)/Asst. CIT- Piramal Ananta, Agastya 7(3)(2), Mumbai Corporate Park, Kamani Junc, LBS Marg, Vs. Mumbai -400 070 (PAN : AAACN4538P) (Appellant) (Respondent) Assessment Year: 2008-09 Assistant Commissioner of Piramal Enterprises Ltd., Income Tax – 8(2)(1), 10, Piramal Tower, Mumbai Ganpatrao Kadam Marg, Vs. Lower Parel, Mumbai – 400013 (PAN : AA…

Piramal Enterprises Limited, Mumbai vs. The Deputy Commissioner of Income Tax, Circle 8(2)(1), Mumbai

In the result, all the three appeals of the assessee are partly allowed and appeal of the Revenue is dismissed

ITA 2584/MUM/2024[2009-10]Status: DisposedITAT Mumbai21 May 2025AY 2009-10

Bench: Smt. Beena Pillai & Shri Girish Agrawal

For Appellant: Shri Ronak Doshi, CAFor Respondent: Shri R.A. Dhyani, CIT DR
Section 115JSection 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos. 2582, 2584 and 2588/MUM/2024 Assessment Years: 2010-11, 2009-10 and 2008-09 Piramal Enterprises Ltd., Deputy CIT- 8(2)(1)/Asst. CIT- Piramal Ananta, Agastya 7(3)(2), Mumbai Corporate Park, Kamani Junc, LBS Marg, Vs. Mumbai -400 070 (PAN : AAACN4538P) (Appellant) (Respondent) Assessment Year: 2008-09 Assistant Commissioner of Piramal Enterprises Ltd., Income Tax – 8(2)(1), 10, Piramal Tower, Mumbai Ganpatrao Kadam Marg, Vs. Lower Parel, Mumbai – 400013 (PAN : AA…

Piramal Enterprises Limited, Mumbai vs. The Deputy Commissioner of Income Tax, Circle 8(2)(1), Mumbai

In the result, all the three appeals of the assessee are partly allowed and appeal of the Revenue is dismissed

ITA 2582/MUM/2024[2010-11]Status: DisposedITAT Mumbai21 May 2025AY 2010-11

Bench: Smt. Beena Pillai & Shri Girish Agrawal

For Appellant: Shri Ronak Doshi, CAFor Respondent: Shri R.A. Dhyani, CIT DR
Section 115JSection 143(3)Section 14ASection 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA Nos. 2582, 2584 and 2588/MUM/2024 Assessment Years: 2010-11, 2009-10 and 2008-09 Piramal Enterprises Ltd., Deputy CIT- 8(2)(1)/Asst. CIT- Piramal Ananta, Agastya 7(3)(2), Mumbai Corporate Park, Kamani Junc, LBS Marg, Vs. Mumbai -400 070 (PAN : AAACN4538P) (Appellant) (Respondent) Assessment Year: 2008-09 Assistant Commissioner of Piramal Enterprises Ltd., Income Tax – 8(2)(1), 10, Piramal Tower, Mumbai Ganpatrao Kadam Marg, Vs. Lower Parel, Mumbai – 400013 (PAN : AA…

DCIT, Range-6, Lucknow vs. M/S. U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 229/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER I.T.A. No.227/Lkw/2020 Assessment Year: 2011-12 U.P. State Sugar Corporation Ltd. Vs. Dy.C.I.T., Vipul Khand, Gomti Nagar, Range-VI, Lucknow. Lucknow. PAN:AAACU3394C (Appellant) (Respondent) I.T.A. No.229/Lkw/2020 Assessment Year: 2011-12 I.T.A. No.587/Lkw/2019 Assessment Year: 2012-13 I.T.A. No.485/Lkw/2019 Assessment Year: 2013-14 I.T.A. No.588/Lkw/2019 Assessment Year: 2014-15 Dy.…

U.P. State Sugar Corporation Ltd., Lucknow vs. DCIT, Range-VI, Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 227/LKW/2020[2011-12]Status: DisposedITAT Lucknow16 May 2025AY 2011-12

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER I.T.A. No.227/Lkw/2020 Assessment Year: 2011-12 U.P. State Sugar Corporation Ltd. Vs. Dy.C.I.T., Vipul Khand, Gomti Nagar, Range-VI, Lucknow. Lucknow. PAN:AAACU3394C (Appellant) (Respondent) I.T.A. No.229/Lkw/2020 Assessment Year: 2011-12 I.T.A. No.587/Lkw/2019 Assessment Year: 2012-13 I.T.A. No.485/Lkw/2019 Assessment Year: 2013-14 I.T.A. No.588/Lkw/2019 Assessment Year: 2014-15 Dy.…

DCIT, Lucknow vs. M/S U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 588/LKW/2019[2014-15]Status: DisposedITAT Lucknow16 May 2025AY 2014-15

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER I.T.A. No.227/Lkw/2020 Assessment Year: 2011-12 U.P. State Sugar Corporation Ltd. Vs. Dy.C.I.T., Vipul Khand, Gomti Nagar, Range-VI, Lucknow. Lucknow. PAN:AAACU3394C (Appellant) (Respondent) I.T.A. No.229/Lkw/2020 Assessment Year: 2011-12 I.T.A. No.587/Lkw/2019 Assessment Year: 2012-13 I.T.A. No.485/Lkw/2019 Assessment Year: 2013-14 I.T.A. No.588/Lkw/2019 Assessment Year: 2014-15 Dy.…

DCIT, Lucknow vs. M/S U.P. State Sugar Corporation Ltd., Lucknow

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

ITA 587/LKW/2019[2012-13]Status: DisposedITAT Lucknow16 May 2025AY 2012-13

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Section 14A

…I.T.A. No.227/Lkw/2020, 229/Lkw/20, 587/Lkw/19, 485/Lkw/19, 588/Lkw/19 1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘B’, LUCKNOW BEFORE SHRI KUL BHARAT, VICE PRESIDENT AND SHRI ANADEE NATH MISSHRA, ACCOUNTANT MEMBER I.T.A. No.227/Lkw/2020 Assessment Year: 2011-12 U.P. State Sugar Corporation Ltd. Vs. Dy.C.I.T., Vipul Khand, Gomti Nagar, Range-VI, Lucknow. Lucknow. PAN:AAACU3394C (Appellant) (Respondent) I.T.A. No.229/Lkw/2020 Assessment Year: 2011-12 I.T.A. No.587/Lkw/2019 Assessment Year: 2012-13 I.T.A. No.485/Lkw/2019 Assessment Year: 2013-14 I.T.A. No.588/Lkw/2019 Assessment Year: 2014-15 Dy.…