Union Bank of India v. ACIT

72 Taxmann.com 348Income Tax Appellate Tribunal2016#1665 most cited

What is Union Bank of India v. ACIT authority for?

A tax refund must first be adjusted towards interest payable under Section 244A, with the balance then appropriated against the principal tax amount. This approach does not lead to interest on interest.

69

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

Union Bank of India v ACIT · Section 244A interest on refund · refund appropriation priority · interest before principal tax · no interest on interest · refund adjustment · correct interest computation · ITAT Mumbai 2016

Also reported as

162 ITD 142

Sections most often in play

Section 244ASection 143(3)Section 154Section 140A(1)Section 244A(1A)Section 147Section 220(2)Section 234B

Issues it is cited on

section 140a(1)interest on interestsection 244a(1)section 140ainterest on refundsection 244section 43dsection 243section 140section 244areal income theorysection 115ja

Judgments citing Union Bank of India v. ACIT

GOLDENCROSS PHARMA LIMITED,MUMBAI vs. DCIT, CIRCLE 7(1)(1) CURRENT JAO- DCIT, CENTRAL CIRCLE 1(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 4765/MUM/2025[2008-09]Status: DisposedITAT Mumbai10 Dec 2025AY 2008-09

Bench: Justice (Retd.) C. V. Bhadang & Shri Prabhash Shankargoldencross Pharma V/S. Deputy Commissioner Of Limited बनाम Income Tax, Circle 7(1)(1), Tower A, 1St Floor, Peninsula Current Jao-Dcit, Central Business Park, Ganpatrao Circle 1(2), Aaykar Bhavan, Kadam Marg, Lower Parel, Mk Road, Current Jao-906, Mumbai – 400013, 9Th Floor, Pratishtha Bhavan, Maharashtra Mk Road, Mumbai – 400020, Maharashtra स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcg0541J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

Section 140ASection 143(3)Section 154Section 244A

…f various courts of law including coordinate benches of ITAT and of jurisdictional ITAT, Mumbai where by similar claims of the assessee are being consistently allowed in its favour. 6.1 We notice that the ITAT, Mumbai in the case of Union Bank of India(2016) 162 ITD 142 held that adjustment of refund shall be first towards interest receivable u/s 244A and balance towards principal amount of tax and same did not result into payment of interest on interest. Likewise, in the case of Grasim Industries Ltd V DCIT (2021) 188 ITD 675 (Mum ITAT) following the decision of Union Bank of India (supra)ITAT held that the ref…

JCIT (IN SITU), CIRCLE-1(1), KOLKATA, KOLKATA vs. THE PEERLESS GENERAL FINANCE AND INVESTMENT COMPANY LIMITED, KOLKATA

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

ITA 750/KOL/2025[1992-93]Status: DisposedITAT Kolkata26 Aug 2025AY 1992-93

Bench: Shri Rajesh Kumar & Shri Pradip Kumar Choubeyआयकर अपील सं/Ita No.750/Kol/2025 (निर्धारण वर्ा / Assessment Year : 1992-93) Jcit (In Situ), Circle-1(1), Vs The Peerless General Finance Kolkata & Investment Company Limited Peerless Bhawan, 3, Esplanade East, Kolkata-700069 Pan No. :Aabct 3043 L (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) रधजस्व की ओर से /Revenue By : Shri Sushanta Saha, Addl. Cit निर्धाररती की ओर से /Assessee By : Shri S.K.Tulsiyan, Advocate & Ms. Puja Somani, Ca सुनवाई की तारीख / Date Of Hearing : 31/07/2025 घोषणा की तारीख/Date Of Pronouncement : 26/08/2025 आदेश / O R D E R Per Rajesh Kumar, Am : This Is An Appeal Filed By The Revenue Against The Order Dated 26.09.2017, Passed By The Ld. Cit(A)-22, Kolkata, For The Assessment Year 1992-93. 2. At The Outset, We Observe That There Is A Delay Of 39 Days In Filing The Appeal By The Revenue For Which The Condonation Petition Has Been Filed. After Perusing The Contents Of Condonation Petition, We Are Inclined To Condone The Delay & Admit The Appeal For Adjudication. 3. The Only Issue Raised By The Revenue In The Various Grounds Of Appeal Is Against The Order Of The Ld. Cit(A) Holding That The Assessee Is Entitled To Interest On Unpaid Interest Whereas There Is No Provisions As Per The Income Tax Act To Charge The Interest On Unpaid Interest On The Assessee As Well As Nowhere The Powers Give Rights To The Assessing Officer To Give Interest On Unpaid Interest To The Assessee.

For Appellant: Shri S.K.Tulsiyan, Advocate and MsFor Respondent: Shri Sushanta Saha, Addl. CIT
Section 154Section 244A

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI PRADIP KUMAR CHOUBEY, JUDICIAL MEMBER आयकर अपील सं/ITA No.750/KOL/2025 (निर्धारण वर्ा / Assessment Year : 1992-93) JCIT (IN SITU), Circle-1(1), Vs The Peerless General Finance Kolkata and Investment Company Limited Peerless Bhawan, 3, Esplanade East, Kolkata-700069 PAN No. :AABCT 3043 L (अपीलधर्थी /Appellant) .. (प्रत्यर्थी / Respondent) रधजस्व की ओर से /Revenue by : Shri Sushanta Saha, Addl. CIT निर्धाररती की ओर से /Assessee by : Shri S.K.Tulsiyan, Advocate and Ms. Puja Somani, CA सुनवाई की तारीख / Date o…

THE FEDERAL BANK LTD,KOCHI vs. ACIT, , KOCHI

In the result, the appeal of the assessee stands partly allowed

ITA 533/COCH/2023[2020-21]Status: DisposedITAT Cochin25 Jun 2025AY 2020-21

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

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…st granted u/s. 244A of the Act. In support of this he placed reliance on the following decisions: - i) Union of India v. Tata Chemicals Ltd. [2014] 363 ITR 658 ii) Union Bank of India v. ACIT [2016] 52 ITR(T) 221 (Mum) iii) Tata Sons (P.) Ltd. v. DCIT [2024] 204 ITD 802 (Mum) 9. On the other hand, the CIT-DR submits that the order passed by the CIT(A) is in consonance with the law laid down by the Hon'ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals [2014] 358 ITR 291, therefore, no interference is called for. 10. We have heard the rival contentions and perused the material available on record. Th…

THE FEDERAL BANK LTD,KOCHI vs. ACIT, KOCHI

In the result, the appeal of the assessee stands partly allowed

ITA 532/COCH/2023[2010-11]Status: DisposedITAT Cochin25 Jun 2025AY 2010-11

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

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…st granted u/s. 244A of the Act. In support of this he placed reliance on the following decisions: - i) Union of India v. Tata Chemicals Ltd. [2014] 363 ITR 658 ii) Union Bank of India v. ACIT [2016] 52 ITR(T) 221 (Mum) iii) Tata Sons (P.) Ltd. v. DCIT [2024] 204 ITD 802 (Mum) 9. On the other hand, the CIT-DR submits that the order passed by the CIT(A) is in consonance with the law laid down by the Hon'ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals [2014] 358 ITR 291, therefore, no interference is called for. 10. We have heard the rival contentions and perused the material available on record. Th…

THE FEDERAL BANK LTD,KOCHI vs. ACIT, KOCHI

In the result, the appeal of the assessee stands partly allowed

ITA 531/COCH/2023[2007-08]Status: DisposedITAT Cochin25 Jun 2025AY 2007-08

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

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…st granted u/s. 244A of the Act. In support of this he placed reliance on the following decisions: - i) Union of India v. Tata Chemicals Ltd. [2014] 363 ITR 658 ii) Union Bank of India v. ACIT [2016] 52 ITR(T) 221 (Mum) iii) Tata Sons (P.) Ltd. v. DCIT [2024] 204 ITD 802 (Mum) 9. On the other hand, the CIT-DR submits that the order passed by the CIT(A) is in consonance with the law laid down by the Hon'ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals [2014] 358 ITR 291, therefore, no interference is called for. 10. We have heard the rival contentions and perused the material available on record. Th…

THE FEDERAL BANK LTD,KOCHI vs. ACIT, KOCHI

In the result, the appeal of the assessee stands partly allowed

ITA 530/COCH/2023[2001-02]Status: DisposedITAT Cochin25 Jun 2025AY 2001-02

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

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…st granted u/s. 244A of the Act. In support of this he placed reliance on the following decisions: - i) Union of India v. Tata Chemicals Ltd. [2014] 363 ITR 658 ii) Union Bank of India v. ACIT [2016] 52 ITR(T) 221 (Mum) iii) Tata Sons (P.) Ltd. v. DCIT [2024] 204 ITD 802 (Mum) 9. On the other hand, the CIT-DR submits that the order passed by the CIT(A) is in consonance with the law laid down by the Hon'ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals [2014] 358 ITR 291, therefore, no interference is called for. 10. We have heard the rival contentions and perused the material available on record. Th…

THE FEDERAL BANK LTD.,KOCHI vs. ACIT, KOCHI

In the result, the appeal of the assessee stands partly allowed

ITA 529/COCH/2023[2000-01]Status: DisposedITAT Cochin25 Jun 2025AY 2000-01

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

For Appellant: Shri K. Gopi, CAFor Respondent: Shri Sundarasan S., CIT-DR
Section 143(3)Section 154Section 244A

…st granted u/s. 244A of the Act. In support of this he placed reliance on the following decisions: - i) Union of India v. Tata Chemicals Ltd. [2014] 363 ITR 658 ii) Union Bank of India v. ACIT [2016] 52 ITR(T) 221 (Mum) iii) Tata Sons (P.) Ltd. v. DCIT [2024] 204 ITD 802 (Mum) 9. On the other hand, the CIT-DR submits that the order passed by the CIT(A) is in consonance with the law laid down by the Hon'ble Apex Court in the case of CIT v. Gujarat Fluoro Chemicals [2014] 358 ITR 291, therefore, no interference is called for. 10. We have heard the rival contentions and perused the material available on record. Th…

VIACOM 18 MEDIA PRIVATE LIMITED ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 16(1), MUMBAI

In the result the appeal filed by the assessee stands allowed for statistical purposes

ITA 1002/MUM/2025[2012-13]Status: DisposedITAT Mumbai23 May 2025AY 2012-13

Bench: Smt. Beena Pillai () & Smt.Renu Jauhri ()

Section 143(3)Section 153(5)Section 244Section 244ASection 244A(1)(a)

…IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) AND SMT.RENU JAUHRI (ACCOUNTANT MEMBER) I.T.A. No. 1002/Mum/2025 Assessment Year: 2012-13 Viacom 18 Media Private Vs. Assistant Limited Commisioner of One Unity Centre, Tower Income-tax-16(1), 4, SenapatiBapat Marg, AaykarBhavan, Prabhadevi, MaharshiKarve Rd, Mumbai-400013 Churchgate, PAN:AAACM9164E Mumbai-400020 (Appellant) (Respondent) Appellant by ShriNimeshVora, Moksha Mehta Respondent by Ms.Kavitha Kaushik, SR. D.R. Date of Hearing 09.04.2025 Date of Pronouncement 23.05.2025 ORDER Per: Smt. Beena Pillai…

PURANMAL DELHIWALA,WADALA, MUMBAI vs. ITO WARD 23(2)(6), MUMBAI

In the result, the appeal is partly allowed

ITA 3785/MUM/2024[1993-94]Status: DisposedITAT Mumbai21 May 2025AY 1993-94
Section 143(3)Section 154Section 244(1)Section 244ASection 244A(1)Section 254

…t remaining unpaid and balance\ntowards tax component. We find that this issue is already settled in favour of\nthe assessee by the following decisions of this Tribunal:-\na. Decision in the case of Union Bank of India v. Asstt. CIT (2016) 72\ntaxmann.com 348/162 ITD 142 (Mum.).b. Decision in the case of Bank of\nBaroda v. Dy. CIT [IT Appeal No. 646 (Mum) of 2017, dated 20-12-2018)\n8. Accordingly, we direct the ld. AO to compute the correct amount of interest\nallowable to the assessee as directed by the ld. CIT(A) as on date of giving effect to\nthe Tribunal's order i.e. 6-9-2013 .We further hold that the refun…

ACIT CIR 2(1)(1), MUMBAI vs. BANK OF BARODA, MUMBAI

In the result, the appeal by the Revenue is dismissed

ITA 2777/MUM/2019[2016-17]Status: DisposedITAT Mumbai06 Feb 2025AY 2016-17

Bench: Shri Amarjit Singhshri Sandeep Singh Karhailbank Of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400051. ……………. Appellant Pan: Aaacb 1534 F V/S Acit, 2(1)(1), ……………. Respondent Mumbai-400051. Acit, Circle - 2(1)(1), Room No. 561, 5Th Floor, Aayakar Bhavan, M.K. Road, ……………. Appellant Mumbai-400020. V/S Bank Of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra ……………. Respondent Kurla Complex, Bandra (East), Mumbai-400051. Pan: Aaacb 1534 F

For Appellant: Mr. C. NareshFor Respondent: Mr. Kailash C. Kanojiya, CIT-DR
Section 115JSection 143(3)Section 14ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Bank of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400051. ……………. Appellant PAN: AAACB 1534 F v/s ACIT, 2(1)(1), ……………. Respondent Mumbai-400051. ACIT, Circle - 2(1)(1), Room No. 561, 5th floor, Aayakar Bhavan, M.K. Road, ……………. Appellant Mumbai-400020. v/s Bank of Baroda, C-26, G-Block, Baroda Corporate Centre, Bandra ……………. Respondent Kurla Complex, Bandra (East), Mumbai-400051. PAN: AAACB 1534 F Assessee by : Mr. C. Nar…

TATA SONS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 2(3)(1), MUMBAI

In the result, both the appeals are allowed for statistical purposes

ITA 5109/MUM/2024[2008-2009]Status: HeardITAT Mumbai16 Dec 2024AY 2008-2009

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sandeep Singh Karhail, Hon’Ble

For Appellant: Shri Sukhsagar Syal, A/RFor Respondent: Shri Hemanshu Joshi, Sr. D/R
Section 244ASection 251

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER I.T.A. No. 5109/Mum/2024 Assessment Year: 2008-09 & I.T.A. No. 5102/Mum/2024 Assessment Year: 2009-10 Tata Sons Private Limited Deputy Commissioner of Income Bombay House Vs Tax – 2(3)(1), Mumbai 24, Homi Mody Street Fort, Mumbai Maharashtra – 400001 [PAN: AAACT4060A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sukhsagar Syal, A/R Revenue by : Shri Hemanshu Joshi, Sr. D/R सुनवाई की तारीख/Da…

TATA SONS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - 2(3)(1), MUMBAI

In the result, both the appeals are allowed for statistical purposes

ITA 5102/MUM/2024[2009-2010]Status: HeardITAT Mumbai16 Dec 2024AY 2009-2010

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sandeep Singh Karhail, Hon’Ble

For Appellant: Shri Sukhsagar Syal, A/RFor Respondent: Shri Hemanshu Joshi, Sr. D/R
Section 244ASection 251

…| आयकर अपीलीय अिधकरण "ायपीठ, मुंबई | IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER & SHRI SANDEEP SINGH KARHAIL, HON’BLE JUDICIAL MEMBER I.T.A. No. 5109/Mum/2024 Assessment Year: 2008-09 & I.T.A. No. 5102/Mum/2024 Assessment Year: 2009-10 Tata Sons Private Limited Deputy Commissioner of Income Bombay House Vs Tax – 2(3)(1), Mumbai 24, Homi Mody Street Fort, Mumbai Maharashtra – 400001 [PAN: AAACT4060A] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : Shri Sukhsagar Syal, A/R Revenue by : Shri Hemanshu Joshi, Sr. D/R सुनवाई की तारीख/Da…

DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION,MUMBAI vs. CIT (A), NFAC, DELHI

In the result, the appeal by the assessee is allowed

ITA 1074/MUM/2024[2020-21]Status: DisposedITAT Mumbai08 Nov 2024AY 2020-21

Bench: Shri Narendra Kumar Billaiyashri Sandeep Singh Karhaildeposit Insurance & Credit Guarantee Corporation, Dicgc, Second Floor, Rbi Building, Byculla, Mumbai Central, H.O. Mumbai – 400008, ............... Appellant Pan : Aaacd2094E V/S Dcit – 3(4) Mumbai – 400020 ……………… Respondent Maharashtra

For Appellant: Shri Rushabh MehtaFor Respondent: Smt. Sanyogita Nagpal, CIT-DR
Section 143(1)Section 143(3)Section 144BSection 244ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER Deposit Insurance and Credit Guarantee Corporation, DICGC, Second Floor, RBI Building, Byculla, Mumbai Central, H.O. Mumbai – 400008, ............... Appellant PAN : AAACD2094E v/s DCIT – 3(4) Mumbai – 400020 ……………… Respondent Maharashtra Assessee by : Shri Rushabh Mehta Revenue by : Smt. Sanyogita Nagpal, CIT-DR Date of Hearing – 19/08/2024 Date of Order - 08/11/2024 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been filed by the assessee…

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee for assessment year 2006 – 07 and 2007 – 08 is partly allowed

ITA 4952/MUM/2013[2006-07]Status: DisposedITAT Mumbai11 Oct 2024AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm A.Y.2006-07 [ By Assessee] &

Section 14Section 143Section 36Section 41

…` IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL , JM A.Y.2006-07 [ by Assessee] & ITA No. 4952/MUM /2013 [By AO ] ITA No 4128/MUM /2014 A.Y.2007-08 [ By AO] & [By Assessee] Vs. State Bank of India The Additional 3rd Floor, Commissionerof Income tax Corporate Centre Circle 2 (2) Mumbai Madam Cama Road Room No 545, Aykar Bhavan Nariman Point Maharishi Karve Road Mumbai 400021 Mumbai 400020 (Appellant) (Respondent) PAN AAACS8577K Assessee by Shri Ketan Ved &Abdulkadir Jawad Wala Revenue by Shri P C Chhhotaray Special Counsel Shri Dr Kishor Dhule…

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT CIR 2(2), MUMBAI

In the result appeal filed by the assessee for assessment

ITA 3868/MUM/2013[2006-07]Status: DisposedITAT Mumbai11 Oct 2024AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms Kavitha Rajagopal , Jm

Section 14Section 143Section 36Section 41

…Page | 1 IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS KAVITHA RAJAGOPAL , JM ITA No. 3868/MUM/2013 [ by Assessee] & ITA No . 4952/MUM /2013 [By AO ] Vs. ITA No 4128/MUM /2014 [ By AO] & ITA no 4105/MUM/2014 [By Assessee] A.Y .2006-07 A.Y .2007-08 State Bank of India 3 r d Floor, Corporate Centre Madam Cama Road Nariman Point Mumbai 400021 The Add it ional Commissionerof Income tax Circle 2 (2) Mumbai Room No 545 , Aykar Bhavan Maharishi Karve Road Mumbai 400020 (Appellant) (Respondent) PAN AAACS8577K Assessee by Shri Ketan Ved &Abdulka…

RELIANCE INDUSTRIES LIMITED ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 3(4), MUMBAI

In the result, appeal of the assessee is allowed and that of the Revenue is dismissed

ITA 3057/MUM/2024[1997-98]Status: DisposedITAT Mumbai30 Aug 2024AY 1997-98

Bench: Shri Narender Kumar Choudhry & Shri Girish Agrawalassessment Year: 1997-98

For Appellant: Shri Nimesh Vora, AdvocateFor Respondent: Smt. Mahita Nair, Sr. DR
Section 115JSection 143(3)Section 154Section 244A

…several judicial precedents and submitted that the issue is no longer res integra as the Tribunal has consistently decided this issue in favour of the assessee after taking into consideration, decisions by higher forums. (1) Union Bank of India v ACIT (2016) 162 ITD 142 (Mum ITAT) (refer Pg 11 to 18) In this case, the division bench of the Mumbai ITAT after considering the decision of SC in case of Gujarat Fluoro Chemicals (supra) followed the decision of Delhi HC in case of India Trade Promotion Organisation (supra) and held that adjustment of refund shall be first towards interest receivable u/s 244a and balan…

JCIT (OSD) CIRCLE -3(4), MUMBAI, MUMBAI vs. RELIANCE INDUSTRIES LIMITED , MUMBAI

In the result, appeal of the assessee is allowed and that of the Revenue is dismissed

ITA 159/MUM/2024[1997-98]Status: DisposedITAT Mumbai30 Aug 2024AY 1997-98

Bench: Shri Narender Kumar Choudhry & Shri Girish Agrawalassessment Year: 1997-98

For Appellant: Shri Nimesh Vora, AdvocateFor Respondent: Smt. Mahita Nair, Sr. DR
Section 115JSection 143(3)Section 154Section 244A

…several judicial precedents and submitted that the issue is no longer res integra as the Tribunal has consistently decided this issue in favour of the assessee after taking into consideration, decisions by higher forums. (1) Union Bank of India v ACIT (2016) 162 ITD 142 (Mum ITAT) (refer Pg 11 to 18) In this case, the division bench of the Mumbai ITAT after considering the decision of SC in case of Gujarat Fluoro Chemicals (supra) followed the decision of Delhi HC in case of India Trade Promotion Organisation (supra) and held that adjustment of refund shall be first towards interest receivable u/s 244a and balan…

ACIT-3(4), MUMBAI vs. LUPIN LIMITED, MUMBAI

Accordingly, the grounds raised by the assessee in this regard are allowed for both the years

ITA 2902/MUM/2024[2021-22]Status: DisposedITAT Mumbai31 Jul 2024AY 2021-22

Bench: Shri Narender Kumar Choudhry & Shri Gagan Goyalassessment Year: 2021-22

For Appellant: Shri Raghav Bajaj, A.RFor Respondent: Shri Manoj Kumar Sinha, Sr. DR
Section 10ASection 115JSection 143(1)Section 143(3)Section 154Section 244ASection 250

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “A”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER Assessment Year: 2021-22 Assistant Commissioner of M/s. Lupin Limited, 3rd Income Tax-3(4), Floor Kalpataru 5th Floor, Room No.559, Inspire, Aayakar Bhavan, Off Western Express Vs. Mumbai, Highway, Maharashtra – 400 020 Santacruz (East), Mumbai Maharashtra- 400055 PAN: AAACL1069K (Appellant) (Respondent) Present for: Assessee by : Shri Raghav Bajaj, A.R. Revenue by : Shri Manoj Kumar Sinha, Sr. DR. Date of Hearing : 23 . 07 . 2024 Date of Pronouncement :…

DCIT CIRCLE -3(4), MUMBAI, MUMBAI vs. IDBI BANK LTD, MUMBAI

In the result, appeal filed by the learned AO in ITA number

ITA 3573/MUM/2023[2004-05]Status: DisposedITAT Mumbai08 May 2024AY 2004-05

Bench: Shri Prashant Maharishi, Am & Shri Raj Kumar Chauhan, Jm Idbi Bank Ltd. Dcit Circle 3(4) 7Th Floor, R.No. 559, 5Th Floor, Idbi Tower Wtc Complex Vs. Aaykar Bhavan, M.K. Road, Cuffe Parade, Mumbai-400 020 Mm 400005 (Appellant) (Respondent) Pan No. Aabci8842G

For Appellant: Shri C Naresh, ARFor Respondent: Ms Madhu Malati Ghosh, CIT
Section 143Section 244ASection 244A(1)Section 254

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAJ KUMAR CHAUHAN, JM IDBI Bank Ltd. DCIT Circle 3(4) 7th Floor, R.No. 559, 5th Floor, IDBI Tower WTC Complex Vs. Aaykar Bhavan, M.K. Road, Cuffe Parade, Mumbai-400 020 Mm 400005 (Appellant) (Respondent) PAN No. AABCI8842G Assessee by : Shri C Naresh, AR Revenue by : Ms Madhu Malati Ghosh, CIT DR Date of hearing: 23.04.2024 Date of pronouncement : 08.05.2024 O R D E R PER PRASHANT MAHARISHI, AM: This appeal is filed by the Deputy Commissioner of income tax 01. Circle – 3 (4), Mumbai (the learned AO) for assessm…

NIRMA LIMITED,AHMEDABAD vs. THE DCTI , CIRCLE-3(1)(1) NOW DCIT, CENTRAL CIRCLE-2(2), AHMEDABAD

ITA 460/AHD/2023[1998-99]Status: DisposedITAT Ahmedabad03 Apr 2024AY 1998-99

Bench: Smt.Annapurna Gupta & Shri T.R. Senthil Kumar

For Appellant: Shri Bandish Soparkar, ARFor Respondent: Ms. Saumya Pandey Jain, Sr DR
Section 244ASection 250(6)

…आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद "यायपीठ आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण अहमदाबाद "यायपीठ अहमदाबाद "यायपीठ ‘A’ अहमदाबाद। अहमदाबाद "यायपीठ अहमदाबाद। अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER ITA Nos. 284 & 460/Ahd/2023 Assessment Year : 1993-94 & 1998-99 Vs. Dy. Commissioner of Income-tax, Nirma Limited, Circle 3(1)(1), Ahmedabad Nirma House, Ashram Road, Ahmedabad-380009 Now, Dy. Commissioner of PAN : AAACN 5350 K Income-tax, Central Circle 2(2), Ahmedabad (Appellant…

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