What is Southern Technologies Ltd. v. JCIT authority for?

The case concerns the allowability of deductions for provisions made under Section 36 of the Income Tax Act, 1961, especially those related to bad and doubtful debts. It distinguishes such deductions from the recognition of interest income on non-performing assets (NPAs).

How many judgments cite Southern Technologies Ltd. v. JCIT?

353 judgments on BharatTax cite Southern Technologies Ltd. v. JCIT (320 ITR 577), spanning 2010 to 2026.

Which sections of the Income Tax Act does Southern Technologies Ltd. v. JCIT come up under?

It is most often cited in judgments turning on Section 36(1)(vii), Section 14A, Section 1961, Section 115JB, Section 37(1), Section 143(3).

Southern Technologies Ltd. v. JCIT (320 ITR 577)

Deputy Commissioner of Income Tax, Pune vs. Bank of Maharashtra, Pune

In the result, the appeal of assessee is partly allowed in the terms aforesaid

ITA 581/PUN/2017[2012-13]Status: DisposedITAT Pune27 Jun 2019AY 2012-13

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri S. Ananthan with Mrs. Lalitha RFor Respondent: Mrs. Kesang Y. Sherpa

…0,00,098/-. The same was disallowed by the Assessing Officer. The Commissioner of Income Tax (Appeals) allowed deduction to the assessee by following the decision of Hon’ble Supreme Court of India in the case of Southern Technologies Ltd. Vs. JCIT reported as 320 ITR 577. We find that this issue had come up before the Co-ordinate Bench in assessee’s own case in assessment year 2010-11. The relevant extract of the findings of Tribunal in ITA No. 1370/PUN/2014 (supra) are as under : “3.3 Both sides heard. Orders of the authorities below perused. In ground No. 1 of appeal the assessee has assailed the findings of Co…

Deputy Commissioner of Income Tax, Pune vs. Bank of Maharashtra, Pune

In the result, the appeal of assessee is partly allowed in the terms aforesaid

ITA 579/PUN/2017[2011-12]Status: DisposedITAT Pune27 Jun 2019AY 2011-12

Bench: Shri D. Karunakara Rao, Am & Shri Vikas Awasthy, Jm

For Appellant: Shri S. Ananthan with Mrs. Lalitha RFor Respondent: Mrs. Kesang Y. Sherpa

…0,00,098/-. The same was disallowed by the Assessing Officer. The Commissioner of Income Tax (Appeals) allowed deduction to the assessee by following the decision of Hon’ble Supreme Court of India in the case of Southern Technologies Ltd. Vs. JCIT reported as 320 ITR 577. We find that this issue had come up before the Co-ordinate Bench in assessee’s own case in assessment year 2010-11. The relevant extract of the findings of Tribunal in ITA No. 1370/PUN/2014 (supra) are as under : “3.3 Both sides heard. Orders of the authorities below perused. In ground No. 1 of appeal the assessee has assailed the findings of Co…

The Deputy Commissioner of Income Tax, Circle-1(3), Ahmedabad vs. The Kalupur Commercial Co. Op. Bank Ltd., Ahmedabad

In the result, the question is answered in favour of the assessee and against the Revenue and all Tax Appeals are dismissed

ITA 1864/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad18 Jun 2019AY 2014-15

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri N. R. Soni, CIT-D.RFor Respondent: Shri S. N. Soparkar & Parin Shah, A.R

Section 142(1)Section 143(3)

…er of Income Tax (Appeals) as well as the Tribunal granted deduction ignoring this statutory limitation. Counsel further submitted that the effect of the decision of the Supreme Court in case of Southern Technologies Limited v. Joint CIT [2010] 187 Taxman 346/320 ITR 577 was not examined. In the said judgment, the Supreme Court has held that the RBI directives would not govern the taxability a certain receipt. 7. On the other hand, learned advocate Shri Darshan Patel and Shri Bandish Soparkar appearing for the assessees submitted that the bank was bound by the RBI directives, as per which, the bank would have to…

Aditya Birla Finance Ltd, Mumbai vs. DCIT 2(1)(1), Mumbai

In the result, both, the appeals of assessee are assessee allowed

ITA 1491/MUM/2018[2013-14]Status: DisposedITAT Mumbai21 May 2019AY 2013-14

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Aayakr Apila Sam./ Ita No. 1490 & 1491/Mum/2018 (Inaqa-Arna Baya- / Assessment Years 2014-15 & 2013-14) Aditya Birla Finance Limited The Dy. Commissioner Of One Indiabulls Center, Tower- Income Tax, Circle 2(1)(1), 18Th Floor, Jupiter Mill Mumbai Compound, 841, Vs. Senapatibapat Marg, Elphinstone Road, Mumbai- 400 013 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Aabcb5769M अपीलाथी की ओर े / Appellant By : S/Shri Ronak Doshi & Hadik Nirmal, Ars’ प्रत्यथी की ओर े / Respondent By : Shri B.S. Bist, Dr ुनवाई की तारीख / Date Of Hearing: 09-05-2019 घोषणा की तारीख / Date Of Pronouncement : 21-05-2019

For Appellant: S/shri Ronak Doshi &For Respondent: Shri B.S. Bist, DR

Section 143(3)

…distinguishable on facts therefore, the issue was discussed giving the same finding that were in previous year. The AO thereafter referred to and reproduced relevant portion of decision of Hon’ble Supreme Court in the case of Southern Technologies Ltd (2010) 320 ITR 577 and of Hon’ble Madras High Court in the case of CIT Vs. Sakhti Finance Ltd. The assessee had provided the details of interest accrued on NPA amounting to ₹ 16,49,84,276/- which was not recognized in the books of accounts as under:- ITAs No. 1490 & 1491/Mum/2018 Name Amount (in ₹) Praval Investrade Pvt. Ltd 159,75,703 Divvyani Sarnaik 154,99,999…

Aditya Birla Finance Ltd, Mumbai vs. DCIT 2(1)(1), Mumbai

In the result, both, the appeals of assessee are assessee allowed

ITA 1490/MUM/2018[2014-15]Status: DisposedITAT Mumbai21 May 2019AY 2014-15

Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am Aayakr Apila Sam./ Ita No. 1490 & 1491/Mum/2018 (Inaqa-Arna Baya- / Assessment Years 2014-15 & 2013-14) Aditya Birla Finance Limited The Dy. Commissioner Of One Indiabulls Center, Tower- Income Tax, Circle 2(1)(1), 18Th Floor, Jupiter Mill Mumbai Compound, 841, Vs. Senapatibapat Marg, Elphinstone Road, Mumbai- 400 013 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Aabcb5769M अपीलाथी की ओर े / Appellant By : S/Shri Ronak Doshi & Hadik Nirmal, Ars’ प्रत्यथी की ओर े / Respondent By : Shri B.S. Bist, Dr ुनवाई की तारीख / Date Of Hearing: 09-05-2019 घोषणा की तारीख / Date Of Pronouncement : 21-05-2019

For Appellant: S/shri Ronak Doshi &For Respondent: Shri B.S. Bist, DR

Section 143(3)

…distinguishable on facts therefore, the issue was discussed giving the same finding that were in previous year. The AO thereafter referred to and reproduced relevant portion of decision of Hon’ble Supreme Court in the case of Southern Technologies Ltd (2010) 320 ITR 577 and of Hon’ble Madras High Court in the case of CIT Vs. Sakhti Finance Ltd. The assessee had provided the details of interest accrued on NPA amounting to ₹ 16,49,84,276/- which was not recognized in the books of accounts as under:- ITAs No. 1490 & 1491/Mum/2018 Name Amount (in ₹) Praval Investrade Pvt. Ltd 159,75,703 Divvyani Sarnaik 154,99,999…

Vidres India Ceramics Pvt. Ltd., Ahmedabad vs. The Dy. CIT, Circle-4(1)(2), Ahmedabad

In the result, assessee’s appeal is allowed

ITA 2521/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad17 May 2019AY 2013-14

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri A. C. Shah, A.RFor Respondent: Shri S. K. Dev, Sr. D.R

Section 143(1)Section 143(2)Section 143(3)Section 2(24)(x)Section 36(1)(iii)Section 36(1)(va)Section 36(1)(vii)

…ter 1.4.1989 however, a mere provision for bad debt would not be entitled to deduction under Section 36(1)(vii) of the Act. In context of such statutory change, the Supreme Court referred to the decision in case of Southern Technologies Ltd. v. Jt. CIT [2010] 320 ITR 577/187 Taxman 346, in which the following observations were made : "Prior to April 1, 1989, the law, as it then stood, took the view that even in cases in which the assessee(s) makes only a provision in its accounts for bad debts and interest thereon and even though the amount is not actually written off by debiting the profit and loss account of th…

Dycit, New Delhi vs. M/S Bhartiya Samruddhi Finance Ltd., New Delhi

In the result, both the Appeals of the Revenue are

ITA 5828/DEL/2015[2012-13]Status: DisposedITAT Delhi08 Apr 2019AY 2012-13

Bench: Sh. H.S. Sidhu & Shri L.P. Sahu

Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 145

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA Nos. 5827 & 5828/Del/2015 Assessment Years: 2011-12 & 2012-13 DCIT, CIRCLE 4(2), Vs. BHARTIYA SAMRUDDHI ROOM NO. 398D, FINANCE LTD. C.R. BUILDING, NEW DELHI F-5, Ground Floor, Kailash Colony, G.K. Enclave Part-I, New Delhi – 110 048 (PAN : AAACB5337Q) (Appellant) (Respondent) Department by Sh. Amit Katoch, Sr. DR Assessee by Smt. Rajni Goel, Adv. ORDER PER H.S. SIDHU, JM These appeals are filed by the Revenue against the respective Orders passed by the Ld. CIT(A)…

Dycit, New Delhi vs. M/S Bhartiya Samruddhi Finance Ltd., New Delhi

In the result, both the Appeals of the Revenue are

ITA 5827/DEL/2015[2011-12]Status: DisposedITAT Delhi08 Apr 2019AY 2011-12

Bench: Sh. H.S. Sidhu & Shri L.P. Sahu

Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 145

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘C’, NEW DELHI BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER ITA Nos. 5827 & 5828/Del/2015 Assessment Years: 2011-12 & 2012-13 DCIT, CIRCLE 4(2), Vs. BHARTIYA SAMRUDDHI ROOM NO. 398D, FINANCE LTD. C.R. BUILDING, NEW DELHI F-5, Ground Floor, Kailash Colony, G.K. Enclave Part-I, New Delhi – 110 048 (PAN : AAACB5337Q) (Appellant) (Respondent) Department by Sh. Amit Katoch, Sr. DR Assessee by Smt. Rajni Goel, Adv. ORDER PER H.S. SIDHU, JM These appeals are filed by the Revenue against the respective Orders passed by the Ld. CIT(A)…

Deputy Commissioner of Income Tax, Pune vs. M/S. Pune Cantonment Sahakari Bank Ltd, Pune

In the result, both the appeals of Revenue are dismissed

ITA 435/PUN/2017[2007-08]Status: DisposedITAT Pune27 Mar 2019AY 2007-08

Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury, Jm

For Appellant: Shri Dhiraj DandgavelFor Respondent: Shri Abhijit Haldar

Section 145Section 148Section 154Section 36(1)(viia)Section 43D

…he IT Act. 3. Whether on the facts and in the circumstances and in Law, the Ld. CIT(A) has erred in deleting the disallowance on account of accrued interest on NPAs and failed to appreciate the decision of the Apex Court in the case of Southern Technologies (320 ITR 577) wherein the Supreme Court has held that the prudential norms issued by the RBI cannot override the provisions of the Income tax Act for computing taxable income. 4. Whether on the facts and in the circumstances and in Law, the Ld. CIT(A) has erred in deleting the disallowance on account of accrued interest on NPAs and failed to appreciate the d…

The Akkialur Urban Co-Op Bank Ltd, Haveri vs. Income Tax Officer, Ward-2, Haveri

In the result, appeal of the assessee is dismissed

ITA 2885/BANG/2017[2012-13]Status: DisposedITAT Bangalore28 Feb 2019AY 2012-13

Bench: Shri. A. K. Garodia

For Appellant: Shri. Ramasubramanyam, CAFor Respondent: Shri. Vikram Suryavamshi, Addl.CIT

Section 143(3)Section 36Section 36(1)(vii)Section 36(1)(viia)

…assessee, in Vijaya Bank [supra], wherein at para 6 and 7, Hon’ble Supreme Court held as under : 6. The first question is no more res integra. Recently, a Division Bench of this court in the case of Southern Technologies Ltd. v. Joint CIT reported in [2010] 320 ITR 577, (in which one of us S. H. Kapadia J. was a party) had an occasion to deal with the first question and it has been answered, accordingly, in favour of the assessee, vide paragraph 25, which reads as under (page 604) : "Prior to April 1, 1989, the law, as it then stood, took the view that even in cases in which the assessee (s) makes only a provis…

Srei Infrastructure Finance Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, this ground of the revenue is dismissed

ITA 1318/DEL/2012[2008-09]Status: DisposedITAT Kolkata27 Feb 2019AY 2008-09

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godarai.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) Acit, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department

Section 115JSection 143(3)Section 14ASection 250Section 45I

…e case of TRO v. Custodian appointed under the Special Court (Trial of Offences relating to Transaction in Securities) Act, 1992 [2007] 293 ITR 369 (SC). It was his case that Hon’ble Supreme Court in its Judgment in the case of Southern Technologies vs. JCIT; 320 ITR 577 had not considered these decisions. The jurisdictional ITAT order in the case of Liluah Co-op. Bank Ltd. vs. ACIT; ITA No.2294/Kol/2010 and the judgment of the Delhi High Court in the case of M/S CIT vs. Vasisth Chay Vyapar Ltd.; ITA No.552 of 2005 and others was relied upon and it was submitted that in case where a provision has been made for ov…

ACIT, New Delhi vs. M/S. Srei Infrastructure Finance Ltd., New Delhi

In the result, this ground of the revenue is dismissed

ITA 1302/DEL/2012[2008-09]Status: DisposedITAT Kolkata27 Feb 2019AY 2008-09

Bench: Sri J. Sudhakar Reddy & Sri S.S. Godarai.T.A. No. 1302/Del/2012 (Assessment Year: 2008-09) Acit, Circle-9(1), New Delhi....………………...…….........………………………............….Revenue/Department

Section 115JSection 143(3)Section 14ASection 250Section 45I

…e case of TRO v. Custodian appointed under the Special Court (Trial of Offences relating to Transaction in Securities) Act, 1992 [2007] 293 ITR 369 (SC). It was his case that Hon’ble Supreme Court in its Judgment in the case of Southern Technologies vs. JCIT; 320 ITR 577 had not considered these decisions. The jurisdictional ITAT order in the case of Liluah Co-op. Bank Ltd. vs. ACIT; ITA No.2294/Kol/2010 and the judgment of the Delhi High Court in the case of M/S CIT vs. Vasisth Chay Vyapar Ltd.; ITA No.552 of 2005 and others was relied upon and it was submitted that in case where a provision has been made for ov…

The Assistant Commissioner of Income Tax, Circle - 1(1), Visakhapatnam vs. Visakhapatnam Co-Operative Bank Limited, Visakhapatnam

In the result, appeals filed by the assessee and Revenue are dismissed

ITA 472/VIZ/2018[2015-16]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari –AdvocateFor Respondent: Shri V. Appala Raju - Sr. DR

Section 143(3)Section 32Section 40

…either in the year of acquisition or on deferred basis over the period of maturity. 11. The Ld.CIT(A) ought to have further appreciated that CBDT Instruction No. 17/2008 was issued prior to the decision of Apex Court in the case of Southern Technologies Ltd.(320 ITR 577), wherein it was held that the RBI guidelines or prudential norms issued by RBI are not intended to regulate Income Tax Laws. 12. The appellant craves leave to add or amend or alter or delete any ground of appeal at the time of hearing of the appeal. 13. For these and other grounds that may be urged at the C.O.No.130 & 131/VIZ/2018 (M/s. The Visa…

The Visakhapatnam Co-Operative Bank Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle -1(1), Visakhapatnam

In the result, appeals filed by the assessee and Revenue are dismissed

ITA 428/VIZ/2018[2015-16]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari –AdvocateFor Respondent: Shri V. Appala Raju - Sr. DR

Section 143(3)Section 32Section 40

…either in the year of acquisition or on deferred basis over the period of maturity. 11. The Ld.CIT(A) ought to have further appreciated that CBDT Instruction No. 17/2008 was issued prior to the decision of Apex Court in the case of Southern Technologies Ltd.(320 ITR 577), wherein it was held that the RBI guidelines or prudential norms issued by RBI are not intended to regulate Income Tax Laws. 12. The appellant craves leave to add or amend or alter or delete any ground of appeal at the time of hearing of the appeal. 13. For these and other grounds that may be urged at the C.O.No.130 & 131/VIZ/2018 (M/s. The Visa…

The Visakhapatnam Co-Operative Bank Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle -1(1), Visakhapatnam

In the result, appeals filed by the assessee and Revenue are dismissed

ITA 427/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam25 Jan 2019AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

For Appellant: Shri G.V.N. Hari –AdvocateFor Respondent: Shri V. Appala Raju - Sr. DR

Section 143(3)Section 32Section 40

…either in the year of acquisition or on deferred basis over the period of maturity. 11. The Ld.CIT(A) ought to have further appreciated that CBDT Instruction No. 17/2008 was issued prior to the decision of Apex Court in the case of Southern Technologies Ltd.(320 ITR 577), wherein it was held that the RBI guidelines or prudential norms issued by RBI are not intended to regulate Income Tax Laws. 12. The appellant craves leave to add or amend or alter or delete any ground of appeal at the time of hearing of the appeal. 13. For these and other grounds that may be urged at the C.O.No.130 & 131/VIZ/2018 (M/s. The Visa…

DCIT Corporate Circle 2(1), Chennai vs. Fullerton India Credit Company Ltd., Chennai

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1473/CHNY/2018[2012-13]Status: DisposedITAT Chennai05 Dec 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT

Section 145

…sing Officer. 5. On being aggrieved, the assessee is in appeal before the Tribunal. Besides strongly placing reliance on the decision of the Hon’ble Supreme 3 I.T.A. Nos. 1083-1085 & 1472-1473/Chny/18 Court in the case of Southern Technologies Ltd. v. JCIT 320 ITR 577, the ld. Counsel for the assessee has relied on the decisions of Hon’ble Madras High Court in the case of CIT v. Elgi Finance 293 ITR 357, CIT v. Annamalai Finance Ltd. 319 ITR 196) and in the case of CIT v. Coimbatore Lakshmi Investment & Finance Co. Ltd. 331 ITR 229, and submitted that the interest income on NPA could be recognized on receipt b…

DCIT Corporate Circle 2(1), Chennai vs. Fullerton India Credit Company Ltd., Chennai

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1472/CHNY/2018[2011-12]Status: DisposedITAT Chennai05 Dec 2018AY 2011-12

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT

Section 145

…sing Officer. 5. On being aggrieved, the assessee is in appeal before the Tribunal. Besides strongly placing reliance on the decision of the Hon’ble Supreme 3 I.T.A. Nos. 1083-1085 & 1472-1473/Chny/18 Court in the case of Southern Technologies Ltd. v. JCIT 320 ITR 577, the ld. Counsel for the assessee has relied on the decisions of Hon’ble Madras High Court in the case of CIT v. Elgi Finance 293 ITR 357, CIT v. Annamalai Finance Ltd. 319 ITR 196) and in the case of CIT v. Coimbatore Lakshmi Investment & Finance Co. Ltd. 331 ITR 229, and submitted that the interest income on NPA could be recognized on receipt b…

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1085/CHNY/2018[2012-13]Status: DisposedITAT Chennai05 Dec 2018AY 2012-13

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT

Section 145

…sing Officer. 5. On being aggrieved, the assessee is in appeal before the Tribunal. Besides strongly placing reliance on the decision of the Hon’ble Supreme 3 I.T.A. Nos. 1083-1085 & 1472-1473/Chny/18 Court in the case of Southern Technologies Ltd. v. JCIT 320 ITR 577, the ld. Counsel for the assessee has relied on the decisions of Hon’ble Madras High Court in the case of CIT v. Elgi Finance 293 ITR 357, CIT v. Annamalai Finance Ltd. 319 ITR 196) and in the case of CIT v. Coimbatore Lakshmi Investment & Finance Co. Ltd. 331 ITR 229, and submitted that the interest income on NPA could be recognized on receipt b…

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1084/CHNY/2018[2011-12]Status: DisposedITAT Chennai05 Dec 2018AY 2011-12

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT

Section 145

…sing Officer. 5. On being aggrieved, the assessee is in appeal before the Tribunal. Besides strongly placing reliance on the decision of the Hon’ble Supreme 3 I.T.A. Nos. 1083-1085 & 1472-1473/Chny/18 Court in the case of Southern Technologies Ltd. v. JCIT 320 ITR 577, the ld. Counsel for the assessee has relied on the decisions of Hon’ble Madras High Court in the case of CIT v. Elgi Finance 293 ITR 357, CIT v. Annamalai Finance Ltd. 319 ITR 196) and in the case of CIT v. Coimbatore Lakshmi Investment & Finance Co. Ltd. 331 ITR 229, and submitted that the interest income on NPA could be recognized on receipt b…

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai

In the result, the appeals filed by the assessee are allowed and the appeals filed by the Revenue are dismissed

ITA 1083/CHNY/2018[2010-11]Status: DisposedITAT Chennai05 Dec 2018AY 2010-11

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy

For Appellant: Shri G.S.P. Babu, AdvocateFor Respondent: Mrs. Ruby George, CIT

Section 145

…sing Officer. 5. On being aggrieved, the assessee is in appeal before the Tribunal. Besides strongly placing reliance on the decision of the Hon’ble Supreme 3 I.T.A. Nos. 1083-1085 & 1472-1473/Chny/18 Court in the case of Southern Technologies Ltd. v. JCIT 320 ITR 577, the ld. Counsel for the assessee has relied on the decisions of Hon’ble Madras High Court in the case of CIT v. Elgi Finance 293 ITR 357, CIT v. Annamalai Finance Ltd. 319 ITR 196) and in the case of CIT v. Coimbatore Lakshmi Investment & Finance Co. Ltd. 331 ITR 229, and submitted that the interest income on NPA could be recognized on receipt b…

Southern Technologies Ltd. v. JCIT

What is Southern Technologies Ltd. v. JCIT authority for?

Also referred to as

Sections most often in play

Issues it is cited on

Judgments citing Southern Technologies Ltd. v. JCIT

Deputy Commissioner of Income Tax, Pune vs. Bank of Maharashtra, Pune

Deputy Commissioner of Income Tax, Pune vs. Bank of Maharashtra, Pune

The Deputy Commissioner of Income Tax, Circle-1(3), Ahmedabad vs. The Kalupur Commercial Co. Op. Bank Ltd., Ahmedabad

Aditya Birla Finance Ltd, Mumbai vs. DCIT 2(1)(1), Mumbai

Aditya Birla Finance Ltd, Mumbai vs. DCIT 2(1)(1), Mumbai

Vidres India Ceramics Pvt. Ltd., Ahmedabad vs. The Dy. CIT, Circle-4(1)(2), Ahmedabad

Dycit, New Delhi vs. M/S Bhartiya Samruddhi Finance Ltd., New Delhi

Dycit, New Delhi vs. M/S Bhartiya Samruddhi Finance Ltd., New Delhi

Deputy Commissioner of Income Tax, Pune vs. M/S. Pune Cantonment Sahakari Bank Ltd, Pune

The Akkialur Urban Co-Op Bank Ltd, Haveri vs. Income Tax Officer, Ward-2, Haveri

Srei Infrastructure Finance Ltd., New Delhi vs. Addl. CIT, New Delhi

ACIT, New Delhi vs. M/S. Srei Infrastructure Finance Ltd., New Delhi

The Assistant Commissioner of Income Tax, Circle - 1(1), Visakhapatnam vs. Visakhapatnam Co-Operative Bank Limited, Visakhapatnam

The Visakhapatnam Co-Operative Bank Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle -1(1), Visakhapatnam

The Visakhapatnam Co-Operative Bank Limited, Visakhapatnam vs. Assistant Commissioner of Income Tax, Circle -1(1), Visakhapatnam

DCIT Corporate Circle 2(1), Chennai vs. Fullerton India Credit Company Ltd., Chennai

DCIT Corporate Circle 2(1), Chennai vs. Fullerton India Credit Company Ltd., Chennai

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai

M/S Fullerton India Credit Company Limited, Chennai vs. DCIT Corporate Circle 2 (1), Chennai