Vijaya Bank v. CIT

323 ITR 166Supreme Court of India2010#188 most cited

What is Vijaya Bank v. CIT authority for?

A provision for bad and doubtful debts debited to the profit and loss account and reduced from advances on the balance sheet constitutes a write-off for deduction purposes. This is true even if individual debtor accounts are not closed.

392

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

Also referred to as

Vijaya Bank v. CIT · section 36(1)(vii) · write off bad debts · provision for doubtful debts · deduction for bad debts · profit and loss account · balance sheet · advances · loans

Also reported as

190 Taxmann 257231 CTR 209

Sections most often in play

Section 36(1)(vii)Section 143(3)Section 14ASection 115JBSection 37(1)Section 36(1)(viia)Section 32(1)(iia)Section 10(34)
Read the full judgment

Issues it is cited on

section 36(2)(v)section 41(4)section 36(1)(viia)section 36(1)(vii)section 36(2)section 36(1)(viii)section 115jb(2)additional depreciationsection 10(34)book profitssection 41section 115j

Judgments citing Vijaya Bank v. CIT

Vijaya Bank, Bangalore vs. Addl..C.I.T., Bangalore

In the result, the appeal filed by the revenue is dismissed

ITA 331/BANG/2014[2009-10]Status: DisposedITAT Bangalore22 Jul 2016AY 2009-10

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raojoint Commissioner Of Income-Tax, Ltu, Bangalore. … Appellant Vs. M/S. Vijaya Bank, Head Office, Central Accounts Dept. 41/2, Mg Road, Bangalre-560001. … Respondent Pa No.Aaacv 4791 J & M/S. Vijaya Bank, Ho, Central Accounts Dept. 41/2, M.G.Road, Bangalore. … Appellant Vs. Addl. Commissioner Of Income-Tax, Ltu, Bangalore. … Respondent Revenue By : Shri P.Chandrashekar, Cit(Dr) Assessee By : Shri S.Ananthan, Ca & Smt.Lalitha Ramaswamy, Ca Date Of Hearing : 07/06/2016 Date Of Pronouncement : 22/07/2016 O R D E R Per Inturi Rama Rao, Am : These Are Cross Appeals Filed By The Assessee-Bank As Well As The Revenue Directed Against The Order Of The Cit(A), Ltu, Bangalore, Dated 28/11/2013 For The Assessment Year 2009-10. Ita Nos.318 & 331/Bang/2014 Page 2 Of 25 2. Briefly, Facts Of The Case Are That The Assessee Is A Nationalized Bank Engaged In The Business Of Banking. It Filed Return Of Income For The Assessment Year 2009-10 On 29/9/2009 Declaring A Total Income Of Rs.540,24,85,305/-. Against The Said Return Of Income, Assessment Was Completed By The Addl. Cit (Ltu), Bangalore, U/S 143(3) Of The Income-Tax Act, 1961 [Hereinafter Referred To As 'The Act' For Short] Vide Order Dated 30/08/2011 At A Total Income Of Rs.1205,99,81,409/-. While Doing So, The Ao Made The Following Disallowances:

For Appellant: Shri S.Ananthan, CA and Smt.Lalitha Ramaswamy, CAFor Respondent: Shri P.Chandrashekar, CIT(DR)
Section 115JSection 143(3)Section 14ASection 36(1)(vii)Section 36(1)(viia)

…(323 ITR 397). As regards write off of debt, he submitted that debit in P&L account and reducing the provision for bad debts from sundry debtors in the balance sheet amounts to write off as held by the Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT (323 ITR 166). 9.2 We heard rival submissions and perused the material on record. The only ground on which the CIT(A) confirmed the addition made on account of bad debts is that debts have not been written off in the books of account. Similar issue had come up before the Hon’ble Supreme Court in the case of Vijaya Bank (supra) wherein the Hon’ble Supreme Cou…

JCIT, Bangalore vs. M/S Vijaya Bank, Bangalore

In the result, the appeal filed by the revenue is dismissed

ITA 318/BANG/2014[2009-10]Status: DisposedITAT Bangalore22 Jul 2016AY 2009-10

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raojoint Commissioner Of Income-Tax, Ltu, Bangalore. … Appellant Vs. M/S. Vijaya Bank, Head Office, Central Accounts Dept. 41/2, Mg Road, Bangalre-560001. … Respondent Pa No.Aaacv 4791 J & M/S. Vijaya Bank, Ho, Central Accounts Dept. 41/2, M.G.Road, Bangalore. … Appellant Vs. Addl. Commissioner Of Income-Tax, Ltu, Bangalore. … Respondent Revenue By : Shri P.Chandrashekar, Cit(Dr) Assessee By : Shri S.Ananthan, Ca & Smt.Lalitha Ramaswamy, Ca Date Of Hearing : 07/06/2016 Date Of Pronouncement : 22/07/2016 O R D E R Per Inturi Rama Rao, Am : These Are Cross Appeals Filed By The Assessee-Bank As Well As The Revenue Directed Against The Order Of The Cit(A), Ltu, Bangalore, Dated 28/11/2013 For The Assessment Year 2009-10. Ita Nos.318 & 331/Bang/2014 Page 2 Of 25 2. Briefly, Facts Of The Case Are That The Assessee Is A Nationalized Bank Engaged In The Business Of Banking. It Filed Return Of Income For The Assessment Year 2009-10 On 29/9/2009 Declaring A Total Income Of Rs.540,24,85,305/-. Against The Said Return Of Income, Assessment Was Completed By The Addl. Cit (Ltu), Bangalore, U/S 143(3) Of The Income-Tax Act, 1961 [Hereinafter Referred To As 'The Act' For Short] Vide Order Dated 30/08/2011 At A Total Income Of Rs.1205,99,81,409/-. While Doing So, The Ao Made The Following Disallowances:

For Appellant: Shri S.Ananthan, CA and Smt.Lalitha Ramaswamy, CAFor Respondent: Shri P.Chandrashekar, CIT(DR)
Section 115JSection 143(3)Section 14ASection 36(1)(vii)Section 36(1)(viia)

…(323 ITR 397). As regards write off of debt, he submitted that debit in P&L account and reducing the provision for bad debts from sundry debtors in the balance sheet amounts to write off as held by the Hon’ble Supreme Court in the case of Vijaya Bank vs. CIT (323 ITR 166). 9.2 We heard rival submissions and perused the material on record. The only ground on which the CIT(A) confirmed the addition made on account of bad debts is that debts have not been written off in the books of account. Similar issue had come up before the Hon’ble Supreme Court in the case of Vijaya Bank (supra) wherein the Hon’ble Supreme Cou…

DCIT 3(2), Mumbai vs. Lml Ltd, Mumbai

In the result, appeal of the revenue stands dismissed

ITA 3666/MUM/2011[2006-07]Status: DisposedITAT Mumbai21 Jun 2016AY 2006-07

Bench: Shri G S Pannu & Shri Amit Shukla

Section 143(3)

…then this would amount to writing off the debt and thus all the conditions laid down in section 36(1)(vii) r.w.s. 36(2) clearly gets fulfilled. This issue has been settled by the Hon’ble Supreme Court in the case of Vijaya Bank Ltd. vs CIT, reported in [2010] 323 ITR 166 which has been followed by the Hon’ble Bombay High Court in the case of CIT vs Tainwalla Chemicals and Plastics LH, reported in [2013] 215 taxman. 153. Thus the said amount would be allowed as a bad debt written off by the assessee and not as a long-term capital loss. Accordingly, we affirm the order of CIT(A) on this score. In the result ground…

The ACIT RG-3(2) vs. M/S. Lml Ltd

In the result, appeal of the revenue stands dismissed

ITA 3668/MUM/2004[2000-2001]Status: DisposedITAT Mumbai21 Jun 2016AY 2000-2001

Bench: Shri G S Pannu & Shri Amit Shukla

Section 143(3)

…then this would amount to writing off the debt and thus all the conditions laid down in section 36(1)(vii) r.w.s. 36(2) clearly gets fulfilled. This issue has been settled by the Hon’ble Supreme Court in the case of Vijaya Bank Ltd. vs CIT, reported in [2010] 323 ITR 166 which has been followed by the Hon’ble Bombay High Court in the case of CIT vs Tainwalla Chemicals and Plastics LH, reported in [2013] 215 taxman. 153. Thus the said amount would be allowed as a bad debt written off by the assessee and not as a long-term capital loss. Accordingly, we affirm the order of CIT(A) on this score. In the result ground…

M/S. Lml Ltd., Mumbai vs. The Addl CIT RG.3(2)

In the result, appeal of the revenue stands dismissed

ITA 3540/MUM/2004[2000-2001]Status: DisposedITAT Mumbai21 Jun 2016AY 2000-2001

Bench: Shri G S Pannu & Shri Amit Shukla

Section 143(3)

…then this would amount to writing off the debt and thus all the conditions laid down in section 36(1)(vii) r.w.s. 36(2) clearly gets fulfilled. This issue has been settled by the Hon’ble Supreme Court in the case of Vijaya Bank Ltd. vs CIT, reported in [2010] 323 ITR 166 which has been followed by the Hon’ble Bombay High Court in the case of CIT vs Tainwalla Chemicals and Plastics LH, reported in [2013] 215 taxman. 153. Thus the said amount would be allowed as a bad debt written off by the assessee and not as a long-term capital loss. Accordingly, we affirm the order of CIT(A) on this score. In the result ground…

Reliance Industries Ltd, Mumbai vs. Asst CIT Ltu, Mumbai

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

ITA 5247/MUM/2014[2005-06]Status: DisposedITAT Mumbai03 Jun 2016AY 2005-06

Bench: S/Shri B.R. Baskaran (Am) & Ramlal Negi (Jm)

Section 115JSection 154

…amount relating to “Provision for doubtful debts” debited to the Profit and Loss account has been deducted from the Sundry debtors balance in the Balance sheet. By placing reliance on the decision rendered by Hon’ble Supreme Court in the case of Vijaya Bank (323 ITR 166), the Ld A.R submitted that such kind of accounting treatment amounts to actual write off of debts. Accordingly he contended that the amount debited to “Provision for doubtful debts” should be considered as actual write off of debts and hence the same cannot be construed as a provision made for diminution in the value of assets warranting additio…

Universal Industrial Fund Ltd., Kolkata vs. DCIT, C Ircle- 6, Kolkata

In the result, assessee’s appeal stands partly allowed

ITA 1838/KOL/2010[2007-08]Status: DisposedITAT Kolkata27 May 2016AY 2007-08

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Year :2007-08

Section 115JSection 143(3)Section 14A

…satisfaction as provision for diminishing in the value of assets is substituted, if case of the assessee falls under item (c). In meeting the aforesaid case, the assessee ought on record the judgment of the Apex Court in the case of Vijaya Bank v. CIT [2010] 323 ITR 166/190 Taxman 257 where the Apex Court had an occasion to consider this Explanation. It accepted the argument on behalf of the revenue to the effect that the Explanation makes it very clear that there is a dichotomy between actual write off on the one hand and provision for bad and doubtful debt on the other. A mere debit to the profit and loss acco…

DCIT, New Delhi vs. M/S Spice Communication Ltd., Noida

In the result, the appeal in ITA No

ITA 988/DEL/2011[2006-07]Status: DisposedITAT Delhi25 May 2016AY 2006-07

Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2006-07 Deputy Commissioner Of Income Vs. M/S. Spice Communication Ltd., Tax, Circle 9(1), Room No. 163, C/O- Idea Cellular Ltd., A-68, C.R. Building, New Delhi Sector-64, Noida. Gir/Pan : Aagcs6070H (Appellant) (Respondent) & C.O. No. 77/Del/2011 [In Ita No. 988/Del/2011] Assessment Year: 2006-07 M/S. Spice Communication Ltd., Vs. Deputy Commissioner Of Income C/O- Idea Cellular Ltd., A-68, Tax, Circle 9(1), Room No. 163, Sector-64, Noida. C.R. Building, New Delhi Gir/Pan : Aagcs6070H (Appellant) (Respondent) & Assessment Year: 2006-07 M/S. Idea Cellular Ltd., A-68, Vs. Acit, Circle-50(1), New Delhi Sector-64, Noida Gir/Pan : Aaacb2100P (Appellant) (Respondent) Assessee By Sh. Ronak G. Doshi, Ca Department By Sh. B.K. Singh, Cit(Dr) Date Of Hearing 05.04.2016 Date Of Pronouncement 25.05.2016 & C.O. No. 77/Del/2011

Section 143(2)Section 143(3)

…of the lower authorities. 19.3 We have heard the rival submissions and perused the material on record. In the case of CIT Vs. Kirloskar Systems Ltd, Hon’ble High Court of Karnataka has held as under: “2. The Apex Court in the case of Vijaya Bank v. CIT [2010] 323 ITR 166/190 Taxman 257 (SC) has held that the assessee is entitled to the benefit of rejection under Section 36(1)(vii) of the Income Tax Act, 1961 (for short 'the Act) when there is an actual write off by the assessee in its book. This Court in the case of CIT v. Yokogawa India Ltd. [2012] 204 Taxman 305/17 taxmann.com 15 (Kar.) has held adjustment of p…

Idea Cellular Ltd., Noida vs. ACIT, New Delhi

In the result, the appeal in ITA No

ITA 801/DEL/2011[2006-07]Status: DisposedITAT Delhi25 May 2016AY 2006-07

Bench: Sh. I.C. Sudhir & Sh. O.P. Kantassessment Year: 2006-07 Deputy Commissioner Of Income Vs. M/S. Spice Communication Ltd., Tax, Circle 9(1), Room No. 163, C/O- Idea Cellular Ltd., A-68, C.R. Building, New Delhi Sector-64, Noida. Gir/Pan : Aagcs6070H (Appellant) (Respondent) & C.O. No. 77/Del/2011 [In Ita No. 988/Del/2011] Assessment Year: 2006-07 M/S. Spice Communication Ltd., Vs. Deputy Commissioner Of Income C/O- Idea Cellular Ltd., A-68, Tax, Circle 9(1), Room No. 163, Sector-64, Noida. C.R. Building, New Delhi Gir/Pan : Aagcs6070H (Appellant) (Respondent) & Assessment Year: 2006-07 M/S. Idea Cellular Ltd., A-68, Vs. Acit, Circle-50(1), New Delhi Sector-64, Noida Gir/Pan : Aaacb2100P (Appellant) (Respondent) Assessee By Sh. Ronak G. Doshi, Ca Department By Sh. B.K. Singh, Cit(Dr) Date Of Hearing 05.04.2016 Date Of Pronouncement 25.05.2016 & C.O. No. 77/Del/2011

Section 143(2)Section 143(3)

…of the lower authorities. 19.3 We have heard the rival submissions and perused the material on record. In the case of CIT Vs. Kirloskar Systems Ltd, Hon’ble High Court of Karnataka has held as under: “2. The Apex Court in the case of Vijaya Bank v. CIT [2010] 323 ITR 166/190 Taxman 257 (SC) has held that the assessee is entitled to the benefit of rejection under Section 36(1)(vii) of the Income Tax Act, 1961 (for short 'the Act) when there is an actual write off by the assessee in its book. This Court in the case of CIT v. Yokogawa India Ltd. [2012] 204 Taxman 305/17 taxmann.com 15 (Kar.) has held adjustment of p…

M/S. State Bank of India, Mumbai vs. Jt. CIT. Spl. RG. - 27, Mumbai

ITA 3823/MUM/2005[1997-1998]Status: DisposedITAT Mumbai29 Apr 2016AY 1997-1998

Bench: S/Sh.Rajendra & Amit Shuklaआयकर अपील सं./I.T.A. No.3823-24/Mum/2005 िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Ay.S.1997-98, 1998-99 वष" State Bank Of India Addl. Cit- Range-2(2) Accounts & Compliance Deptt. Mumbai. Corporate Centre,Madam Cama Road Vs. Mumbai-400 021. Pan:Aaacs 8577 K (अपीलाथ" /Appellant) (""थ" / Respondent) Revenue By: Shri Rajeshwar Yadav Assessee By:Shri Girish Dave सुनवाई की तारीख / Date Of Hearing :02.03.2016 घोषणा की तारीख / Date Of Pronouncement: 29.04.2016 आयकर अिधिनयम,1961 की धारा 254(1)के अ"ग"त आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) खंडपीठ के अनुसार Per Bench: Challenging The Orders Dated 24.3.2005 & 28.3.2005 The Asssessee Has Filed The Appeals For Above Mentioned Two Ay.S Raising Various Grounds Of Appeal. It Has Also Filed Additional Grounds Of Appeal For The Ay 1997-98.Assessee,A Public Sector Bank Is Engaged In The Business Of Banking.The Details Of Filing Of Returns, Returned Income Etc., For Both The Years Can Be Summarised As Under : A.Y. Roi Filed Returned Assessment Assessed Dt. Of Orders On Income(Rs.) Dt. Income(Rs.) Of Cit(A) 1997-98 28.11.1997 2086,56,04,580/- 27.03.2000 2433,18,77,427/- 24.3.2005 1998-99 30.11.1998 2816,41,01,920/- 14.02.2001 3558,87,03,620/- 28.3.2005

For Appellant: Shri Girish DaveFor Respondent: Shri Rajeshwar Yadav
Section 254(1)

…are raised first time by the assessee and involves legal issue. Though the assessee has relied upon the following decision in support of its claim ;- 3823-24/M/05-SBI 1. Covered by the decision of the Supreme Court in the case of Vijaya Bank Vs. CIT (2010) 323 ITR 166 2. Covered by the decision of the Bangalore Tribunal in the case of State Bank of India Mysore Vs. DCIT (2009) 33 SOT 7 (BANG.) 3. Covered in favour of the appellant by the decision of the Mumbai bench of Tribunal in the case of Bank of India Vs. DCIT (ITA No. 2781/Mum/2011) However since the issue has not been examined by the AO, therefore, in t…

Lawkim Ltd ( Now Merged With Godrej & Boyce Mfg. Co. Ltd), Mumbai vs. ITO WD 10(2)(1), Mumbai

The appeal is dismissed

ITA 5092/MUM/2010[2002-03]Status: DisposedITAT Mumbai22 Apr 2016AY 2002-03
For Appellant: Ms. Sonali GodboleFor Respondent: Shri M.Murli
Section 115JSection 143(1)Section 143(3)Section 148Section 14ASection 254(1)

…er section 147.” Lastly,we would also like to refer to the judgment of Kirloskar Systems Ltd.(220ITR220).In that judgment the Hon’ble Karnataka High Court has held as follow: 8 5092/M/10-LawkimLtd. “2. The Apex Court in the case of Vijaya Bank v. CIT[201O] 323 ITR 166/190Taxman 257 (SC) has held that the assessee is entitled to the benefit of rejection under Section 36(1)(vii) of the Income-tax Act, 1961 (for short 'the Act when there is an actual write off by the assessee in its book. This Court in the case of CIT v. Yokogawa India Ltd. [2012] 204 Taxman 305/17 taxmann.com 15 (Kar.) has held adjustment of pro…

Canara Bank, Bangalore vs. Addl. C.I.T., Bangalore

In the result, appeal by the revenue is partly allowed

ITA 693/BANG/2012[2008-09]Status: DisposedITAT Bangalore30 Mar 2016AY 2008-09

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

JCIT, Bangalore vs. M/S Canara Bank, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 684/BANG/2012[2008-09]Status: DisposedITAT Bangalore30 Mar 2016AY 2008-09

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

Addl.Ci.T., Bangalore vs. M/S Canara Bank, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 813/BANG/2011[2007-08]Status: DisposedITAT Bangalore30 Mar 2016AY 2007-08

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

Canara Bank, Bangalore vs. Addl.C.I.T., Bangalore

In the result, appeal by the revenue is partly allowed

ITA 793/BANG/2011[2007-08]Status: DisposedITAT Bangalore30 Mar 2016AY 2007-08

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

JCIT, Bangalore vs. M/S Canara Bank, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 601/BANG/2010[2005-06]Status: DisposedITAT Bangalore30 Mar 2016AY 2005-06

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

Canara Bank, Bangalore vs. JCIT, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 530/BANG/2010[2005-06]Status: DisposedITAT Bangalore30 Mar 2016AY 2005-06

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

Addl.CIT, Bangalore vs. M/S Canara Bank, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 530/BANG/2009[2006-07]Status: DisposedITAT Bangalore30 Mar 2016AY 2006-07

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

M/S. Canara Bank, Bangalore vs. ACIT, Bangalore

In the result, appeal by the revenue is partly allowed

ITA 479/BANG/2009[2006-07]Status: DisposedITAT Bangalore30 Mar 2016AY 2006-07

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G.Sarangan, Senior AdvocateFor Respondent: Shri G.R.Reddy, CIT(DR)
Section 115JSection 143(2)Section 143(3)Section 14ASection 35DSection 36(1)(viia)

…of the provisions of sec.36(1)(vii) r.w.s.36(2) of the Act were complied with. He further submitted that reducing the provision for bad and doubtful debts from debtor’s account amounts to write off as held by the Hon’ble Apex Court in the case of Vijaya Bank (323 ITR 166) and Catholic Syrian Bank (343 ITR 270) and the jurisdictional High Court in ITA No.1011/2008 in the assessee-bank’s case. He further relied on the following decisions: Bank of India: (i) (27 Taxman 335)(ITAT,Mum) (ii)ITA 3422 & 3437/2013, 1498/2011- ITAT,Mum. (ii)ITA 2781 & 3534/2010 – ITAT, Mum. (iii) 5 TMI 929/2014 Indian Bank: (i)TA 470 to 4…

The Commissioner of Income- Tax - V vs. M/s. Krishnaveni Constructions

ITTA/37/2010HC Telangana22 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY