United Commercial Bank v. CIT

240 ITR 355Supreme Court of India1999#237 most cited

What is United Commercial Bank v. CIT authority for?

Liabilities accrued on a notional basis are allowable as deductions under the mercantile system of accounting even if their exact quantification or discharge is deferred to a future date or if the demand itself is disputed.

314

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2009 to 2026.

Also referred to as

United Commercial Bank v. CIT · Section 145 · Section 37(1) · mercantile system of accounting · accrual basis deduction · unascertained liability · provision for expenses · deferred quantification · disputed liability · business deductions

Also reported as

156 CTR 380

Sections most often in play

Section 143(3)Section 37(1)Section 36(1)(viia)Section 14ASection 36(1)(vii)Section 145Section 36(1)(viii)Section 10(34)

Issues it is cited on

section 36(2)(v)section 145(1)section 36(1)(viia)section 36(2)section 36(1)(vii)interest on securitiesmercantile system of accountingsection 10(34)profits and gains of business or professionsection 145section 36(1)disallowance u/s 14a

Judgments citing United Commercial Bank v. CIT

ASST CIT 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3882/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…nored) will have to be followed in Toto and not in parts. The assessee can’t say that valuation of securities shall be done as per RBI guidelines but recognition of income or loss will be done individual scrip wise. The issue before the Hon’ble SC in UCO Bank 240 ITR 355 (Supreme Court) and Southern Technologies Ltd. 320 ITR 577 (Supreme Court) was not exactly the same as discussed aforesaid. Therefore stand of the AO that depreciation / appreciation in individual scrips shall be aggregated for each category of classification and thereafter only net depreciation shall be allowed in the P&L A/c as per the RBI guid…

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

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

ITA 3680/MUM/2017[2010-11]Status: DisposedITAT Mumbai21 Apr 2026AY 2010-11

Bench: Smt. Beena Pillai () & Shri Jagadish ()

Section 14ASection 36(1)Section 36(1)(vii)Section 36(1)(viia)Section 43B

…nored) will have to be followed in Toto and not in parts. The assessee can’t say that valuation of securities shall be done as per RBI guidelines but recognition of income or loss will be done individual scrip wise. The issue before the Hon’ble SC in UCO Bank 240 ITR 355 (Supreme Court) and Southern Technologies Ltd. 320 ITR 577 (Supreme Court) was not exactly the same as discussed aforesaid. Therefore stand of the AO that depreciation / appreciation in individual scrips shall be aggregated for each category of classification and thereafter only net depreciation shall be allowed in the P&L A/c as per the RBI guid…

COUNTRY CLUB HOSPITALITY & HOLIDAYS LIMITED,HYDERABAD vs. DCIT., CIRCLE-1(1), HYDERABAD

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

ITA 1480/HYD/2025[2011-12]Status: DisposedITAT Hyderabad27 Mar 2026AY 2011-12
Section 139Section 143(2)Section 143(3)Section 147Section 148Section 149Section 250

…due is brought into credit before it is actually received; it brings into debit an expenditure for which a legal liability has been incurred before it is actually disbursed. (see judgment of this Court in the case of United Commercial Bank v. CIT reported in 240 ITR 355). Therefore, the accounting method followed by an assessee continuously for a given period of time needs to be presumed to be correct till the AO comes to the conclusion for reasons to be given that the system does not reflect true and correct profits. As stated, there is no finding given by the AO on the correctness of the accounting standard fo…

SHRIRAM FIANCE LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-3(1), CHENNAI

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

ITA 2635/CHNY/2025[2014-15]Status: DisposedITAT Chennai05 Feb 2026AY 2014-15

Bench: Shri George George K & Shri Inturi Rama Raoआयकर अपील सं./Ita No.: 2635/Chny/2025 िनधा"रण वष"/Assessment Year: 2014-15 Shriram Finance Limited, The Deputy Commissioner (Since Shriram City Union Finance Vs. Of Income Tax, Limited Amalgamated With Corporate Circle 3(1), Shriram Transport Finance Co. Chennai. Ltd. & Presently Known As Shriram Finance Ltd.,) Sri Towers, Plot No.14A, South Phase, Industrial Estate, Guindy, Chennai – 600 032. Pan: Aaacs 7703H (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Sivaraman, Advocate ""यथ" क" ओर से/Respondent By : Ms. Gouthami Manivasagam, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 04.02.2026 घोषणा क" तारीख/Date Of Pronouncement : 05.02.2026

For Appellant: Shri R. Sivaraman, AdvocateFor Respondent: Ms. Gouthami Manivasagam
Section 143(3)Section 148Section 250

…re shown as investments in the balance sheet and the assessees came forward with the theory that the said investments are stock-in-trade, only for claiming deduction. However, the CIT(A) following the decisions of the Hon’ble Supreme Court in UCO Bank v. CIT [240 ITR 355] and Chainrup Sampathram case [24 ITR 481] as well as the earlier orders of the Tribunal dated 16.12.2010 in ITA.No.725/Mds/2010 and dated 10.10.2011 in ITA No.320/Mds/2011 CO.52/Mds/2011 relating to the respective assessment years 2006-07 and 2007-08, deleted the disallowances made by the assessing officer, by holding that the loss arising on sa…

INCOME TAX OFFICER, WARD-3(4), GUWAHATI vs. M/S. S.R.K.M. STEELS (P) LTD, GUWAHATI

In the result, the appeal of the Revenue is dismissed

ITA 274/GTY/2018[2015-16]Status: DisposedITAT Guwahati18 Dec 2025AY 2015-16

Bench: Shri Rajesh Kumar, Am & Shri Manomohan Das, Jm Income Tax Officer, Ward 3(4) M/S S.R.K.M Steels (P) Ltd. Room No.707, 7Th Floor, Aayakar M/S Srkm Steels (P) Ltd. Lokhra Bhawan Poorva, G.S. Road, Road, P.O. Sawkuchi, Guwahati- Vs. Guwahati-781005, Assam 781034, Assam (Appellant) (Respondent) Pan No. Aalcs5046E Assessee By : Shri Somnath Ghosh, Ar Revenue By : Shri Santosh Kumar Karnani, Dr Date Of Hearing: 17.11.2025 Date Of Pronouncement: 18.12.2025

For Appellant: Shri Somnath Ghosh, ARFor Respondent: Shri Santosh Kumar karnani, DR
Section 133(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL “Guwahati” BENCH, Guwahati (Through Virtual hearing at Kolkata) BEFORE SHRI RAJESH KUMAR, AM AND SHRI MANOMOHAN DAS, JM Income Tax Officer, Ward 3(4) M/s S.R.K.M Steels (P) Ltd. Room No.707, 7th Floor, Aayakar M/s SRKM Steels (P) Ltd. Lokhra Bhawan Poorva, G.S. Road, Road, P.O. Sawkuchi, Guwahati- Vs. Guwahati-781005, Assam 781034, Assam (Appellant) (Respondent) PAN No. AALCS5046E Assessee by : Shri Somnath Ghosh, AR Revenue by : Shri Santosh Kumar karnani, DR Date of hearing: 17.11.2025 Date of pronouncement: 18.12.2025 O R D E R Per Rajesh Kumar, AM: This is an appeal pre…

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

ITA 624/DEL/2024[2021-22]Status: DisposedITAT Delhi12 Dec 2025AY 2021-22

Bench: Shri C.N. Prasad & Shri M. Balaganesh

Section 35ASection 4

…ile following mercantile accrual system of accounting even though its actual quantification and discharge is deferred to a future date [refer Calcutta Discount Co. Ltd. 37 ITR 1 (SC), Metal Box (P) Limited (1969): 73 ITR 53 (SC), United Commercial Bank v. CIT 240 ITR 355 (SC), Bharat Earth Movers: 245 ITR 428 (SC)]. 41. As regards the allegation of the assessing officer that since the issue of quantification of AGR and consequential licence fee is pending/ disputed before the apex Court, the provision for interest for delay in payment of such licence fee made is an unascertained liability is erroneous and complet…

DCIT, CIRCLE 4(2), NEW DELHI vs. M/S BHARTI TELEMEDIA LTD, NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

ITA 4966/DEL/2024[2020-21]Status: DisposedITAT Delhi12 Dec 2025AY 2020-21

Bench: Shri C.N. Prasad & Shri M. Balaganesh

Section 35ASection 4

…ile following mercantile accrual system of accounting even though its actual quantification and discharge is deferred to a future date [refer Calcutta Discount Co. Ltd. 37 ITR 1 (SC), Metal Box (P) Limited (1969): 73 ITR 53 (SC), United Commercial Bank v. CIT 240 ITR 355 (SC), Bharat Earth Movers: 245 ITR 428 (SC)]. 41. As regards the allegation of the assessing officer that since the issue of quantification of AGR and consequential licence fee is pending/ disputed before the apex Court, the provision for interest for delay in payment of such licence fee made is an unascertained liability is erroneous and complet…

BHARTI TELEMEDIA LIMITED,NEW DELHI vs. DCIT, CIRCLE-4(2), NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

ITA 4960/DEL/2024[2020-21]Status: DisposedITAT Delhi12 Dec 2025AY 2020-21

Bench: Shri C.N. Prasad & Shri M. Balaganesh

Section 35ASection 4

…ile following mercantile accrual system of accounting even though its actual quantification and discharge is deferred to a future date [refer Calcutta Discount Co. Ltd. 37 ITR 1 (SC), Metal Box (P) Limited (1969): 73 ITR 53 (SC), United Commercial Bank v. CIT 240 ITR 355 (SC), Bharat Earth Movers: 245 ITR 428 (SC)]. 41. As regards the allegation of the assessing officer that since the issue of quantification of AGR and consequential licence fee is pending/ disputed before the apex Court, the provision for interest for delay in payment of such licence fee made is an unascertained liability is erroneous and complet…

DCIT, CIRCLE 4(2), NEW DELHI vs. MS BHARTI TELEMEDIA LTD, NEW DELHI

In the result, the appeals of the Assessee are allowed and appeals of the Revenue are dismissed

ITA 4868/DEL/2024[2016-17]Status: DisposedITAT Delhi12 Dec 2025AY 2016-17

Bench: Shri C.N. Prasad & Shri M. Balaganesh

Section 35ASection 4

…ile following mercantile accrual system of accounting even though its actual quantification and discharge is deferred to a future date [refer Calcutta Discount Co. Ltd. 37 ITR 1 (SC), Metal Box (P) Limited (1969): 73 ITR 53 (SC), United Commercial Bank v. CIT 240 ITR 355 (SC), Bharat Earth Movers: 245 ITR 428 (SC)]. 41. As regards the allegation of the assessing officer that since the issue of quantification of AGR and consequential licence fee is pending/ disputed before the apex Court, the provision for interest for delay in payment of such licence fee made is an unascertained liability is erroneous and complet…

KALLAKURICHI CO-OPERATIVE SUGAR MILLS UNIT II,VILLUPURAM vs. ACIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal of the assessee is dismissed…

ITA 2295/CHNY/2025[2020-21]Status: DisposedITAT Chennai13 Nov 2025AY 2020-21

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.2293, 2294 & 2295 / Chny/2025 Assessment Years-2017-18, 2018-19 & 2020-21 Kallakurichi Ii Co-Operative Sugar Assistant Commissioner Of Income Mills, Unit-Ii, Cs-11, Tax, Kachirapalayam, Kallakurichi, Circle-1 Villupuram, Cuddalore. Tamil Nadu-606 207. [Pan: Aaaak0655Q] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant)

For Appellant: Mr.S.Venugopalan, C.AFor Respondent: Mr.Aroon Praasad, Addl.CIT

…t cannot be considered as component of cost of production for determining the value of closing stock. The Id.AR relied on the following judgments for the proposition that consistency to be followed in income-tax proceedings : 1. United Commercial Bank v. CIT (240 ITR 355)(SC) 2. CIT v. Woodward Governor India P. Ltd. (312 ITR 254)(SC) 3. Merck Ltd. v. DCIT (2 ITR (Trib)-OL 629 (Mumbai) 4. CIT v. Dhampur Sugar Mills Ltd. (360 ITR 82) (Allahabad) Page - 3 - of 5 ITA Nos.2293, 2294 & 2295/Chny/2025 In our opinion, each assessment year is an independent assessment of unit and the wrong method of accounting followed…

KALLAKURICHI CO-OPERATIVE SUGAR MILLS UNIT II,VILLUPURAM vs. ACIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal of the assessee is dismissed…

ITA 2294/CHNY/2025[2018-19]Status: DisposedITAT Chennai13 Nov 2025AY 2018-19

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.2293, 2294 & 2295 / Chny/2025 Assessment Years-2017-18, 2018-19 & 2020-21 Kallakurichi Ii Co-Operative Sugar Assistant Commissioner Of Income Mills, Unit-Ii, Cs-11, Tax, Kachirapalayam, Kallakurichi, Circle-1 Villupuram, Cuddalore. Tamil Nadu-606 207. [Pan: Aaaak0655Q] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant)

For Appellant: Mr.S.Venugopalan, C.AFor Respondent: Mr.Aroon Praasad, Addl.CIT

…t cannot be considered as component of cost of production for determining the value of closing stock. The Id.AR relied on the following judgments for the proposition that consistency to be followed in income-tax proceedings : 1. United Commercial Bank v. CIT (240 ITR 355)(SC) 2. CIT v. Woodward Governor India P. Ltd. (312 ITR 254)(SC) 3. Merck Ltd. v. DCIT (2 ITR (Trib)-OL 629 (Mumbai) 4. CIT v. Dhampur Sugar Mills Ltd. (360 ITR 82) (Allahabad) Page - 3 - of 5 ITA Nos.2293, 2294 & 2295/Chny/2025 In our opinion, each assessment year is an independent assessment of unit and the wrong method of accounting followed…

KALLAKURICHI CO-OPERATIVE SUGAR MILLS UNIT II,VILLUPURAM vs. ACIT, VILLUPURAM CIRCLE,, VILLUPURAM

In the result, the appeal of the assessee is dismissed…

ITA 2293/CHNY/2025[2017-18]Status: DisposedITAT Chennai13 Nov 2025AY 2017-18

Bench: Shri Ss Viswanethra Ravi & Shri Amitabh Shuklaआयकर अपील सं./Ita Nos.2293, 2294 & 2295 / Chny/2025 Assessment Years-2017-18, 2018-19 & 2020-21 Kallakurichi Ii Co-Operative Sugar Assistant Commissioner Of Income Mills, Unit-Ii, Cs-11, Tax, Kachirapalayam, Kallakurichi, Circle-1 Villupuram, Cuddalore. Tamil Nadu-606 207. [Pan: Aaaak0655Q] (प्रत्यर्थी/Respondent) (अपीलार्थी/Appellant)

For Appellant: Mr.S.Venugopalan, C.AFor Respondent: Mr.Aroon Praasad, Addl.CIT

…t cannot be considered as component of cost of production for determining the value of closing stock. The Id.AR relied on the following judgments for the proposition that consistency to be followed in income-tax proceedings : 1. United Commercial Bank v. CIT (240 ITR 355)(SC) 2. CIT v. Woodward Governor India P. Ltd. (312 ITR 254)(SC) 3. Merck Ltd. v. DCIT (2 ITR (Trib)-OL 629 (Mumbai) 4. CIT v. Dhampur Sugar Mills Ltd. (360 ITR 82) (Allahabad) Page - 3 - of 5 ITA Nos.2293, 2294 & 2295/Chny/2025 In our opinion, each assessment year is an independent assessment of unit and the wrong method of accounting followed…

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

ITA 715/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…epted a particular method of accounting over several years, the same is not to be lightly substituted unless the revenue is able to show that the same distorts the profit for a particular year. As held by the Apex Court in United Commercial Bank v. CIT [1999] 240 ITR 355/106 Taxman 601, the choice of method of accounting is of the assessee. The respondent- assessee has chosen/adopted the Project Completion Method of accounting and has been consistently following it over the years. It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. In view of…

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

ITA 714/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…epted a particular method of accounting over several years, the same is not to be lightly substituted unless the revenue is able to show that the same distorts the profit for a particular year. As held by the Apex Court in United Commercial Bank v. CIT [1999] 240 ITR 355/106 Taxman 601, the choice of method of accounting is of the assessee. The respondent- assessee has chosen/adopted the Project Completion Method of accounting and has been consistently following it over the years. It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. In view of…

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, appeal of the Revenue is dismissed

ITA 713/DEL/2024[2019-20]Status: DisposedITAT Delhi30 Oct 2025AY 2019-20

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…epted a particular method of accounting over several years, the same is not to be lightly substituted unless the revenue is able to show that the same distorts the profit for a particular year. As held by the Apex Court in United Commercial Bank v. CIT [1999] 240 ITR 355/106 Taxman 601, the choice of method of accounting is of the assessee. The respondent- assessee has chosen/adopted the Project Completion Method of accounting and has been consistently following it over the years. It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. In view of…

DLF LIMITED,DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal of the Revenue is dismissed

ITA 677/DEL/2024[2021-22]Status: DisposedITAT Delhi30 Oct 2025AY 2021-22

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…epted a particular method of accounting over several years, the same is not to be lightly substituted unless the revenue is able to show that the same distorts the profit for a particular year. As held by the Apex Court in United Commercial Bank v. CIT [1999] 240 ITR 355/106 Taxman 601, the choice of method of accounting is of the assessee. The respondent- assessee has chosen/adopted the Project Completion Method of accounting and has been consistently following it over the years. It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. In view of…

DLF LIMITED,DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, appeal of the Revenue is dismissed

ITA 676/DEL/2024[2020-21]Status: DisposedITAT Delhi30 Oct 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

Section 142(1)Section 143(2)Section 143(3)Section 14A

…epted a particular method of accounting over several years, the same is not to be lightly substituted unless the revenue is able to show that the same distorts the profit for a particular year. As held by the Apex Court in United Commercial Bank v. CIT [1999] 240 ITR 355/106 Taxman 601, the choice of method of accounting is of the assessee. The respondent- assessee has chosen/adopted the Project Completion Method of accounting and has been consistently following it over the years. It is not open to the revenue to reject a method because according to the Assessing Officer another method is prefereable. In view of…

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

ITA 901/DEL/2017[2012-13]Status: DisposedITAT Delhi08 Oct 2025AY 2012-13

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…ollowing orders :-  CIT vs. Woodward Governor India (P) Ltd. 312 ITR 254 (SC)  Rotork Controls India (P) Ltd. vs CIT: 314 ITR 62 (SC)  Calcutta Discount Co. Ltd.: 37 ITR 1 (SC)  Metal Box (P) Limited (1969): 73 ITR 53 (SC)  United Commercial Bank vs. CIT 240 ITR 355 (SC)  Bharat Earth Movers: 245 ITR 428 (SC)  Kelvinator of India Ltd. reported in 256 ITR 1 confirmed by SC in 320 ITR 561  CIT vsVinitecCorpn. (P) Ltd.: 278 ITR 337 (Delhi) He further submitted that the appeals filed by the department, inter-alia, on this issue before the Delhi High Court for AYs 2007-08, 2008-09 and 2009-10 have not been ad…

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

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

ITA 1024/DEL/2016[2011-12]Status: DisposedITAT Delhi08 Oct 2025AY 2011-12

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri G.C. Srivastava, Spl. Counsel for the Department
Section 143(3)Section 144CSection 144C(1)Section 144C(5)Section 14ASection 32Section 35Section 43B

…ollowing orders :-  CIT vs. Woodward Governor India (P) Ltd. 312 ITR 254 (SC)  Rotork Controls India (P) Ltd. vs CIT: 314 ITR 62 (SC)  Calcutta Discount Co. Ltd.: 37 ITR 1 (SC)  Metal Box (P) Limited (1969): 73 ITR 53 (SC)  United Commercial Bank vs. CIT 240 ITR 355 (SC)  Bharat Earth Movers: 245 ITR 428 (SC)  Kelvinator of India Ltd. reported in 256 ITR 1 confirmed by SC in 320 ITR 561  CIT vsVinitecCorpn. (P) Ltd.: 278 ITR 337 (Delhi) He further submitted that the appeals filed by the department, inter-alia, on this issue before the Delhi High Court for AYs 2007-08, 2008-09 and 2009-10 have not been ad…

THE PR. COMMISSIONER OF INCOME TAX vs. M/S KARNATAKA BANK LTD.,

The appeal is dismissed

ITA/165/2024HC Karnataka21 Aug 2025

Bench: S.G.PANDIT,K. V. ARAVIND

Section 145Section 260

…t in order to arrive at the real income for the income tax purpose, the assessee should follow suitable adjustments with suitable accounting practices as per section 145 of the IT Act as per Apex Court decision in the case of UCO Bank Vs. CIT reported in 240 ITR 355? - 4 - HC-KAR NC: 2025:KHC:32613-DB ITA No. 165 of 2024 4. Whether ITAT is justified in not considering the fact that the Special Leave Petition to the Supreme Court filed by the Department on the decision of Hon'ble High Court of Karnataka on identical issue involved in the assessee's case for the AY 2008-09 is stil…

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