UCO Bank v. CIT

237 ITR 889Supreme Court of India1999#145 most cited

What is UCO Bank v. CIT authority for?

CBDT circulars and instructions, while not binding on courts or assessees, are strictly binding on income-tax departmental authorities, who cannot act in contravention of them.

486

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2010 to 2026.

Also referred to as

UCO Bank v. CIT · 237 ITR 889 · Supreme Court · CBDT circulars binding on department · instructions to tax authorities · section 119 · income tax authorities bound by circulars · contravention of instructions · 143(2) notices · scope of scrutiny

Also reported as

104 Taxmann 547

Sections most often in play

Section 143(3)Section 153ASection 148Section 132Section 250Section 143(2)Section 147Section 115BBE

Issues it is cited on

section 119(1)installation pesection 5(8)section 119(2)(a)dependent agent peagency peservice pefunctional analysisclosely held companysection 150far analysissection 119

Judgments citing UCO Bank v. CIT

Economic Explosives Limited, Nagpur vs. Assistant Commissioner of Income Tax, Central Circle 1 (2), Nagpur

In the result, appeal for the assessment year 2018–19 filed by the assessee is partly allowed

ITA 177/NAG/2022[2017-18]Status: DisposedITAT Nagpur09 Sept 2024AY 2017-18

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Mani JainFor Respondent: Shri Kailash C. Kanojiya
Section 139Section 142(1)Section 143(2)

…5 ITR 151) (Del); (102 ITR 622) (Mad); (136 ITR 645) (Del); (143 ITR 29) (Ker); (163 ITR 659) (Karn.); (179 ITR 283) (P&H); and (230 ITR 622) (Karn.). In the following decisions courts have held that circulars are binding on the Revenue: Uco Bank Ltd. Vs CIT (237 ITR 889)(SC); Anjum M.H. Ghaswala (252 ITR 1) (SC); K.P. Varghese (131 ITR 597); and Dhiren Chemicals (254 ITR 554). In the following decisions courts have held that even if it is a benevolent circular it is binding on the authorities of the tax department: Navnitlal C. Jhaveri (56 ITR 198 at 203) (SC); Ellerman Lines Ltd versus CIT (82 ITR 913 at 920-1)…

Micro Focus Software Inc., Usa vs. The Deputy Commissioner of Income-Tax, Circle 3(2)(2), International Taxation, Mumbai

In the result, the appeal is allowed

ITA 4768/MUM/2023[2021-22]Status: DisposedITAT Mumbai06 Sept 2024AY 2021-22

Bench: Ms. Kavitha Rajagopal & Smt. Renu Jauhrimicro Focus Software Inc. V/S. Dcit,(International Tax) बनाम (Formerly Known As Novell Circle 3(2)(2), Inc.) 16Th Floor, Air India Laurel, Block D, 65/2, Building, Nariman Point, Bagmane Tech Park, C. V. Mumbai-400021 Raman Nagar, Byrasandra, Bangalore, Karnataka, India- 560093 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcn5034F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Ketan VedFor Respondent: Shri Anil Sant
Section 143(3)Section 144C(5)Section 234ASection 270A

…IN THE INCOME-TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE MS. KAVITHA RAJAGOPAL JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER Micro Focus Software Inc. v/s. DCIT,(International Tax) बनाम (formerly known as Novell Circle 3(2)(2), Inc.) 16th Floor, Air India Laurel, block D, 65/2, Building, Nariman Point, Bagmane Tech Park, C. V. Mumbai-400021 Raman Nagar, Byrasandra, Bangalore, Karnataka, India- 560093 स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AABCN5034F Appellant/अपीलार्थी .. Respondent/प्रतिवादी Appellant by : Shri Ketan Ved Respondent by : Shri Anil Sant Date of Hearing 11.06.2024 Date of Pronouncem…

Smt. Bridget Anthony(Legal Heir of Late Mr. Elevathingal Joseph Anthony), Bangalore vs. Income-Tax Officer, Ward-4(2)(1), Bangalore

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

ITA 509/BANG/2024[2015-16]Status: DisposedITAT Bangalore05 Aug 2024AY 2015-16

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2015-16

For Appellant: Sri Sandeep Chalapathy, A.RFor Respondent: Shri V. Parithivel, D.R
Section 143(2)Section 250Section 69

…. The said judgment relied upon the decision of Hon’ble Supreme Court in the case of Commissioner of Customs Vs Indian Oil Corporation and Smt. Bridget Anthony, Bangalore Page 17 of 28 also the judgment of Hon’ble Supreme Court in the case of UCO Bank Vs CIT: 237 ITR 889. Hence, we hold that the Assessing Officer can widen the scope of scrutiny even the case is selected for limited scrutiny under CASS, however, the condition precedent for such widening of the scope is that the Assessing Officer has to seek prior approval of the authorities mentioned. 7.4 Before us, ld. A.R. submitted that assessee got a copy of…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 464/HYD/2023[2010-11]Status: DisposedITAT Hyderabad29 Jul 2024AY 2010-11

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 463/HYD/2023[2014-15]Status: DisposedITAT Hyderabad29 Jul 2024AY 2014-15

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 462/HYD/2023[2013-14]Status: DisposedITAT Hyderabad29 Jul 2024AY 2013-14

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 461/HYD/2023[2012-13]Status: DisposedITAT Hyderabad29 Jul 2024AY 2012-13

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Co-Operative Bank Ltd, Vijayawada vs. Assistant Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 460/HYD/2023[2011-12]Status: DisposedITAT Hyderabad29 Jul 2024AY 2011-12

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Co Operative Bank Limited, Hyderabad vs. Asst. Commissioner of Income Tax, Circle-4(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 241/HYD/2018[2009-10]Status: DisposedITAT Hyderabad29 Jul 2024AY 2009-10

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

The Andhra Pradesh State Cooperative Bank Limited, Hyderabad vs. Asst.Commissioner of Income Tax, Circle-5(1), Hyderabad

In the result, the S.As. filed by the assessee are dismissed

ITA 1796/HYD/2017[2008-09]Status: DisposedITAT Hyderabad29 Jul 2024AY 2008-09

Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Ms. K. Haritha, CIT-DR
Section 36Section 36(1)(vii)Section 36(1)(viia)Section 37

…2008-09 in the books of accounts. The Appellant relied on the following decisions a) Canara Bank Vs. JCIT (182 TTJ 203) (Bang.) b) Uttaranchal High Court decision in the case of CIT Vs. Nainital Bank Ltd (309 ITR 335) c) United Commercial Bank Vs. CIT (1999) 237 ITR 889/104 Taxmann 547 (SC) d) Southern Technology Ltd Vs. JCIT (2010) 320 ITR 577/187 Taxman 346 11.4 The appellant submitted the following evidences, before me : - Copies of guidelines of NABARD. - Summary of investment in Non-SLR investments and - Depreciation during the FY 2008-09, Statement of Reserve funds for the years 2004-05 to 2008-09 and - V…

Kurukshetra Expressway Pvt Ltd, Rewari vs. DCIT Circle, Rewari

The appeal of the assessee is allowed for statistical purposes

ITA 9544/DEL/2019[2014-15]Status: DisposedITAT Delhi06 Jun 2024AY 2014-15

Bench: Shri M Balaganesh & Shri Vimal Kumarasstt. Year: 2014-15

For Appellant: Shri Neeraj Jain, AdvocateFor Respondent: Ms. Anu Krishna Aggarwal
Section 143(2)Section 143(3)

…e the CBDT cannot pass any direction/circular so as to require any Income Tax Authority to make a particular assessment or to dispose of a particular case in a particular manner. Reliance was placed on following binding judicial precedents:- - UCO Bank vs CIT 237 ITR 889(SC) - Keshavji Ravji and Company vs. CIT: 183 ITR1, 17 (SC); - CIT vs. Indra Industries: 248 ITR 338 (SC); - CIT vs. Honda Cycles Pvt. Ltd. & ors. 228 ITR 463(SC); - CCE vs. Ratan Melting & Wire Industries [2008 13 SCC 1](SC) So appeal may be accepted. 18. Learned representative for department submitted that the Learned AO disallowed the impugn…

Shivam Builders Private Limited, Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-4(1)(1), Ahmedabad

In the result, appeal filed by the assessee is dismissed

ITA 317/AHD/2022[2015-16]Status: DisposedITAT Ahmedabad09 May 2024AY 2015-16

Bench: Ms. Suchitra Raghunath Kamble, Judical Member & Shri Narendra Prasad Sinhaआयकर अपील सं./I.T.A. No. 317/Ahd/2022 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2015-16) िनधा"रण वष" Shivam Builders Private Deputy Commissioner Of बनाम/ बनाम बनाम बनाम Limited Income Tax Vs. 802, 8Th Floor, Rajvi Circle 4(1)(1), Ahmedabad Arcade, Nr. Gurukul Drive In Road, Memnagar, Ahmedabad, Gujarat 380052 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs0296D (Appellant) .. (Respondent) Shri Hem Chhajed, A.R. अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Shri J L Bhatia, Sr. Dr Date Of Hearing 18/04/2024 09/05/2024 Date Of Pronouncement O R D E R Per Shri Narendra Prasad Sinha, Am: This Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi, (In Short ‘The Cit(A)’) Dated 27.07.2022 For The Assessment Year 2015-16. 2. The Assessee Has Raised The Following Grounds In This Appeal:

For Respondent: Shri J L Bhatia, Sr. DR
Section 143(2)Section 145(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA RAGHUNATH KAMBLE, JUDICAL MEMBER & SHRI NARENDRA PRASAD SINHA, ACCOUNTANT MEMBER आयकर अपील सं./I.T.A. No. 317/Ahd/2022 (िनधा"रण वष" िनधा"रण वष" िनधा"रण वष" / Assessment Years : 2015-16) िनधा"रण वष" Shivam Builders Private Deputy Commissioner of बनाम/ बनाम बनाम बनाम Limited Income Tax Vs. 802, 8th Floor, Rajvi Circle 4(1)(1), Ahmedabad Arcade, Nr. Gurukul Drive in Road, Memnagar, Ahmedabad, Gujarat 380052 "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AACCS0296D (Appellant) .. (Respondent) Shri Hem Chhajed, A.R. अपीलाथ" ओर से /Appellant by :…

Deependra Singh, Mumbai vs. ITO 17(2)(1) Mumbai, Bandra East

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

ITA 2690/MUM/2023[2011-12]Status: DisposedITAT Mumbai20 Mar 2024AY 2011-12

Bench: Shri Pavan Kumar Gadaledeependra Singh, Vs. Ito Ward-17(2)(1), 504 Pushpa Kunj, Kautaliya Bhavan, A Road,Marine Lines, Bandra East, Mumbai-400020. Mumbai-400050. Pan/Gir No. : Akips3319N Appellant .. Respondent

For Appellant: Shri H.N.Motiwalla.ARFor Respondent: Shri P.D.Chougle. Sr.DR
Section 142(1)Section 50CSection 50C(2)

…binding as per following judgements of the Supreme Court: (i) Navnit Lal C. Javeri Vs. K.K. Sen [56 ITR198(SC)] (ii) Ellernan Lines Ltd. vs. CIT [82 ITR 913 (SC)] iii) K.P. Varghese Vs. ITO [131 ITR 597(SC)] Deependra Singh, Mumbai. (iv) UCO Bank Vs. CIT [237 ITR 889 (SC)] Hence we request you to give effect to the same, following the circular and aforesaid judgments Whereas the AO was not satisfied with the explanations and dealt at Para 5.1 to 5.5 of the order and assessed the total income of Rs.99,60,580/-and passed the order U/sec143(3) r.w.s254 of the Act dated 27.08.2024. 4. Aggrieved by the order, the…

M/S. Bankura District Central Co.Opetative Bank Ltd., Bankura vs. DCIT, Cir-3, Bankura.

In the result, ITA No. 1479/KOL/2023 is allowed for statistical purpose

ITA 1479/KOL/2023[2013-14]Status: DisposedITAT Kolkata11 Mar 2024AY 2013-14

Bench: Sri Rajesh Kumar & Sri Anikesh Banerjee

Section 143(3)Section 250

…O erred and disallowing Rs. 8,78,000/- transferred to Special Reserve which is fully allowable. 5. For that the Ld. AO erred and disallowing provision on NPAs Rs. 44,56,568/- which is allowable as held in the case of UCO Bank Ltd. v. CIT [1999] 104 Taxman 547/237 ITR 889 (SC) and PCIT v. Davangere District Central Co-Operative Bank Ltd. [2021] 129 taxmann.com 113 (Karnataka). 6. For that moreover there is mistake to the extent of Rs. 300/- while computing the taxable income. 7. For that the Ld. CIT(A) erred in dismissing the appeal ex-parte without providing proper opportunity of being heard. 8. For that even oth…

Gyasuddin Qureshi, Bulandshahr Up vs. ITO Ward 3(2), Ghaziabad

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

ITA 3132/DEL/2019[2012-13]Status: DisposedITAT Delhi27 Feb 2024AY 2012-13

Bench: AO during the case proceedings but AO not considered it is to relevant to mention here that all the cash purchase is fully covered under rule 6DD(e)(ii) of the income tax rule assessee had purchases in cash of rupees 74,67,186/ out of total purchase 2,69,92,101/ due to this some purchase have to be done in cash, then many vendors do not have the bank account and purchase is done away from a remote area. Also the assessee rely on the order of the Hon,ble Chandigarh Bench of Income Tax Appell

Section 143(3)Section 263Section 40A(3)

…nes "prescribed" means prescribed by the Rules. It does not include CBDT Circulars. It is a settled position in law that a Circular issued by the CBDT cannot impose additional condition to the Act and/or Rules adverse to an assessee. In UCO Bank v. CIT [1999] 237 ITR 889/104 Taxman 547 (SC), the Apex Court has observed "Also a Page 7 of 9 Gyasuddin Qureshi, Bulandshahr circular cannot impose on the taxpayer a burden higher than what the Act itself, on a true interpretation, envisages". Thus, the view of the Tribunal that the CBDT Circular cannot put in new conditions for grant of benefit which are not provided e…

Lovely Promoters Private Limited, Kolkata vs. ACIT, Central Circle, Ajmer

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

ITA 770/JPR/2023[2013-14]Status: DisposedITAT Jaipur08 Feb 2024AY 2013-14

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

For Appellant: Shri Mayank Taparia (Adv.)For Respondent: Shri A.S. Nehra (Addl.CIT) a
Section 127Section 127(1)Section 132Section 147Section 148Section 148ASection 151Section 153C

…jurisdictional in nature and therefore, cannot be corrected by taking recourse to Section 292B of the Act. 11.2 In support of his plea that the 2019 Circular is binding on the revenue, Mr Vohra has relied on the following judgments: i. UCO Bank v. CIT, [1999] 237 ITR 889 (SC); ii. Ellerman Lines Ltd. v. CIT, [1971] 182 ITR 913 (SC); and iii. DCIT v. Sunita Finlease Ltd., [2011] 330 ITR 491 11.3 Furthermore, to back his contention that recourse cannot be taken to the provisions of Section 292B of the Act, reliance is placed on the following judgments: i. PCIT v. Maruti Suzuki India Ltd. v. CIT, ITA No. 475 of 2011…

The Dy. DIT (It) 1(2), Mumbai vs. Atl Media Limited (As A Successor to Expand Fast Holdings Ltd.), Mumbai

In the result, appeal of Revenue is dismissed

ITA 3880/MUM/2007[2003-2004]Status: DisposedITAT Mumbai02 Jan 2024AY 2003-2004
For Appellant: Shri Niraj Sheth, Advocate with Shri Jai BhansaliFor Respondent: Shri Anil Sant
Section 9(1)(i)

…nue received by the Appellant may be from the customers in India is not liable for tax in India. That CBDT Circulars are binding needs no repetition. If authorities need be cited. We may now refer to the judgment of the Supreme Court in UCO Bank v. CIT [1999] 237 ITR 889. In that judgment the issue was whether Circular of 9-10-1984 was inconsistent or whether there was contradiction in the circular and Section 145 of the Income-tax Act. The Supreme Court observed that :— "... In fact, the circular clarifies the way in which these amounts are to be treated under the accounting practice followed by the lender. The…

Atl Media Limited (As A Successor to Expand Fast Holdings Ltd.), Mumbai vs. DDIT (I.T.) - 1(2), Mumbai

ITA 4479/MUM/2006[2002-2003]Status: DisposedITAT Mumbai02 Jan 2024AY 2002-2003

Bench: Shri Vikas Awasthy & Shri Gagan Goyalआ.अ.सं.4479/मुं/2006 (नि. व.2002-03)

For Appellant: Shri Niraj Sheth, Advocate withFor Respondent: Shri Anil Sant
Section 9(1)(i)

…n. If authorities need be cited. We may now 14 ITA NO.4479/MUM/2006 (A.Y. 2002-03) ITA NO.3149/MUM/2007 (A.Y. 2003-04) ITA NO.4631/MUM/2006 (A.Y. 2002-03) ITA NO.3880/MUM/2007 (A.Y. 2003-04) refer to the judgment of the Supreme Court in UCO Bank v. CIT [1999] 237 ITR 889. In that judgment the issue was whether Circular of 9-10-1984 was inconsistent or whether there was contradiction in the circular and Section 145 of the Income-tax Act. The Supreme Court observed that :—…

DCIT, Central Circle, Ghaziabad vs. Ajay Kumar, Meerut

ITA 594/DEL/2022[2017-18]Status: HeardITAT Delhi29 Dec 2023AY 2017-18

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Ms Sapna Bhatia, CIT-DR
Section 119Section 143(3)

…In support of this plea of assessee that the 2019 Circular is binding on the revenue Hon’ble Delhi High Court in Brandix Mauritius ITAs No.404 to 406/Del/2022 Holdings Ltd. (supra) has considered judgments of Hon’ble Supreme Court in UCO Bank v. CIT, [1999] 237 ITR 889 (SC), Ellerman Lines Ltd. v. CIT, [1971] 182 ITR 913 (SC) and held as follows; “17.1 It is also well established that circulars issued by the CBDT in exercise of its powers under Section 119 of the Act are binding on the revenue. 17.2 The aforementioned principle stands enunciated in a long line of judgements, including the Supreme Court’s judgme…

Ajay Kumar, Meerut vs. DCIT, CC, Ghaziabad

ITA 406/DEL/2022[2018-19]Status: HeardITAT Delhi29 Dec 2023AY 2018-19

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Ajay Wadhwa, AdvocateFor Respondent: Ms Sapna Bhatia, CIT-DR
Section 119Section 143(3)

…In support of this plea of assessee that the 2019 Circular is binding on the revenue Hon’ble Delhi High Court in Brandix Mauritius ITAs No.404 to 406/Del/2022 Holdings Ltd. (supra) has considered judgments of Hon’ble Supreme Court in UCO Bank v. CIT, [1999] 237 ITR 889 (SC), Ellerman Lines Ltd. v. CIT, [1971] 182 ITR 913 (SC) and held as follows; “17.1 It is also well established that circulars issued by the CBDT in exercise of its powers under Section 119 of the Act are binding on the revenue. 17.2 The aforementioned principle stands enunciated in a long line of judgements, including the Supreme Court’s judgme…