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“Section 41(1)”

Section References (mined)Section 41Section 41(1)883 judgments

The decision most relied on for Section 41(1) is Tuticorin Alkali Chemicals & Fertilizers Ltd. v. CIT (227 ITR 172), cited in 621 judgments on BharatTax.

Leading authorities on Section 41(1)

Tuticorin Alkali Chemicals & Fertilizers Ltd. v. CIT
227 ITR 172 · 1997 · Supreme Court
621
citing judgments

Interest income earned on deposits, particularly before the commencement of business operations or as a requirement for business licensing, is taxable as "income from other sources" under Section 56, and cannot be treated as business income or set off against interest on borrowed funds.

CIT v. T.V. Sundaram Iyengar & Sons Ltd.
222 ITR 344 · 1996 · Supreme Court
223
citing judgments

Unclaimed deposits received in the course of trading transactions and sundry credit balances written back are taxable as business income under Section 41(1) of the Income-tax Act, 1961, as they constitute a cessation of trading liability.

CIT v. Indo Nippon Chemicals Co. Ltd.
261 ITR 275 · 2003 · Supreme Court
204
citing judgments

A liability recognized in accordance with the Accounting Standards prescribed by the Institute of Chartered Accountants of India (ICAI) is an allowable expense for income tax purposes.

CIT v. Sugauli Sugar Works (P) Ltd.
236 ITR 518 · 1999 · Supreme Court
203
citing judgments

For the purpose of Section 41(1) of the Income-tax Act, a liability is considered to have ceased only when the creditor actively releases or writes off the amount, or when the liability ceases to exist in the assessee's books; mere expiry of the limitation period for recovery does not constitute cessation of liability.

CIT v. Mahindra & Mahindra Ltd.
404 ITR 1 · 2018 · Supreme Court
164
citing judgments

The waiver of a loan taken for acquiring capital assets is considered a capital receipt and is not taxable as income under Section 28(iv) of the Income Tax Act. The ruling distinguishes between the waiver of trading liabilities and capital liabilities for tax purposes.

Mahindra & Mahindra Ltd. v. CIT
261 ITR 501 · 2003 · High Court
147
citing judgments

Section 41(1) of the Income-tax Act cannot be invoked if the assessee has not been granted a deduction for the relevant liability in earlier years.

Prakash Cotton Mills Pvt. Ltd. v. CIT
201 ITR 684 · 1993 · Supreme Court
133
citing judgments

Compensatory interest or damages paid for a breach of contract, arising in the normal course of business, are allowable as a deduction under section 37(1) as wholly and exclusively incurred for business purposes. This principle extends to indirect taxes paid in the course of business, which are admissible as business expenditure.

CIT v. Oswal Agro Mills Ltd.
341 ITR 467 · 2012 · High Court
108
citing judgments

The Legislature abolished terminal depreciation under section 32(1)(iii) and the taxing of balancing charge under section 41(2), replacing these provisions with the requirement to reduce sale proceeds of depreciable assets from the block of assets.

Judgments citing Section 41(1)

Syama Prasad Mookerjee Port, Kolkata vs. DCIT, Cir. 34, Kolkata

In the result, appeal of the assessee in ITA No

ITA 1412/KOL/2023[2020-21]Status: DisposedITAT Kolkata08 Apr 2024AY 2020-21

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 1411 & 1412/Kol/2023 Assessment Year: 2018-19 & 2020-21 Syama Prasad Mookerjee Port Deputy Commissioner Of Vs Income Tax, Circle -34, 15, Strand Road Kolkata - 700001 Kolkata [Pan : Aaajk0361L] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri K. M. Sundaram, C.A. Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 08/04/2024 आदेश/O R D E R Per Bench : Both These Appeals Are Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre - Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 27/10/2023 For The Assessment Year 2018-19 & Dt. 06/11/2023 For The Assessment Year 2020-21 Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”). 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2018-19:- “1. Disallowance Of Rs.68,13,600 U/S 14A R.W.R. 8D(2)(Ii) Is Liable To Be Deleted For The Following Reasons Since The Undisputedly The Appellant Had Nil Exempt Income & That The Entire Investments Are Made In Port Related Strategic Entities Out Of Its Own Funds. A) As Duly Mentioned In Paragraph No.8.7 Of The Impugned Order, The Issue Of Whether The Explanation To Section 14A Inserted W.E.F. 01.04.2022 Is Prospective Or Retrospective Is Not Settled & Hon'Ble High Court Of Delhi Has Held It To Be Applicable Prospectively, Namely W.E.F. Ay 2022-23, Which Subsequent To The Subject Ay 2018-19. 2

For Appellant: Shri K. M. Sundaram, C.AFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 14ASection 250Section 41(1)

balance in the account of both these companies. Therefore, in absence of any liability in the books of accounts, provisions of Section 41(1) of the Act cannot be invoked as the same refers to cessation of trading liability. In other words, liability standing in the books is sine ... before proceedings to examine the transactions under Section 41(1) of the Act. Considering the prayer of the ld. Counsel for the assessee for admission of additional evidence under Rule 29 of the Income tax Rules and also considering the facts which prima facie suggests that there was no liability

Syama Prasad Mookerjee Port, Kolkata vs. DCIT, Cir. 34, Kolkata

In the result, appeal of the assessee in ITA No

ITA 1411/KOL/2023[2018-19]Status: DisposedITAT Kolkata08 Apr 2024AY 2018-19

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 1411 & 1412/Kol/2023 Assessment Year: 2018-19 & 2020-21 Syama Prasad Mookerjee Port Deputy Commissioner Of Vs Income Tax, Circle -34, 15, Strand Road Kolkata - 700001 Kolkata [Pan : Aaajk0361L] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri K. M. Sundaram, C.A. Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 21/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 08/04/2024 आदेश/O R D E R Per Bench : Both These Appeals Are Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre - Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 27/10/2023 For The Assessment Year 2018-19 & Dt. 06/11/2023 For The Assessment Year 2020-21 Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”). 2. The Assessee Has Raised The Following Grounds Of Appeal For Assessment Year 2018-19:- “1. Disallowance Of Rs.68,13,600 U/S 14A R.W.R. 8D(2)(Ii) Is Liable To Be Deleted For The Following Reasons Since The Undisputedly The Appellant Had Nil Exempt Income & That The Entire Investments Are Made In Port Related Strategic Entities Out Of Its Own Funds. A) As Duly Mentioned In Paragraph No.8.7 Of The Impugned Order, The Issue Of Whether The Explanation To Section 14A Inserted W.E.F. 01.04.2022 Is Prospective Or Retrospective Is Not Settled & Hon'Ble High Court Of Delhi Has Held It To Be Applicable Prospectively, Namely W.E.F. Ay 2022-23, Which Subsequent To The Subject Ay 2018-19. 2

For Appellant: Shri K. M. Sundaram, C.AFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 14ASection 250Section 41(1)

balance in the account of both these companies. Therefore, in absence of any liability in the books of accounts, provisions of Section 41(1) of the Act cannot be invoked as the same refers to cessation of trading liability. In other words, liability standing in the books is sine ... before proceedings to examine the transactions under Section 41(1) of the Act. Considering the prayer of the ld. Counsel for the assessee for admission of additional evidence under Rule 29 of the Income tax Rules and also considering the facts which prima facie suggests that there was no liability

Namdeo Indarrao Gore, Pune vs. Dy. Commissioner of Income Tax, Circle 5 Pune, Pune

ITA 1397/PUN/2023[2015-16]Status: DisposedITAT Pune27 Mar 2024AY 2015-16

Bench: Shri Satbeer Singh Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.1397/Pun/2023 िनधा"रण वष" / Assessment Year : 2015-16 Namdeo Indarrao Gore, The Dy.Commissioner Of Subhadra Cme Engineers, V Income Tax, Plot No.1, Subhadra House, S Circle-5, Pune. Nanded Phata, Maharashtra – 411041. Pan: Aavpg0671L Appellant / Assessee Respondent / Revenue Assessee By Shri Rohit S. Tapadiya – Ca Revenue By Shri Ramnath P Murkunde – Ar Date Of Hearing 27/03/2024 Date Of Pronouncement 27/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Appeal Filed By The Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeals)[Nfac], Passed Under Section 250 Of The Income Tax Act, 1961 Dated 26.10.2023. The Assessee For A.Y.2015-16 Has Raised The Following Grounds Of Appeal : “1. The Ld.Ao Erred In Making & Ld. Cit(A) Erred In Confirming An Addition Of Rs.30,71,906/- U/S 41(1) Of The Income Tax Act On Account Of Unpaid Sundry Creditors. Namdeo Indarrao Gore [A]

Section 250Section 271(1)(c)Section 41(1)

।आयकर अपीलीय अिधकरण ”ए” "ायपीठ पुणेम"। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCHES “A” :: PUNE BEFORE SHRI SATBEER SINGH

Dy. Commissioner of Income Tax Central Circle -1(4), Kolkata vs. K Kalpana Industries India Ltd, Kolkata

In the result, both the appeals of the revenue for Assessment Year

ITA 816/KOL/2023[2012-13]Status: DisposedITAT Kolkata21 Mar 2024AY 2012-13

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. Nos. 815 & 816/Kol/2023 Assessment Year: 2011-12 & 2012-13 Deputy Commissioner Of Income K Kalpana Industries India Ltd., Tax, Central Circle-1(4), Kolkata Vs Kolkata 28, Pretoria Street Kolkata - 700071 [Pan : Aabck2239D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ravi Tulsiyan, Fca Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 06/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/03/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeal), Kolkata [Hereinafter The “Ld. Cit(A)”] Evenly Dt. 25/09/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Years 2011-12 & 2012-13. 2. The Registry Has Pointed Out That There Is A Delay Of 34 Days & 11 Days In Filing Of These Appeals By The Department For Assessment Year 2011-12 & 2012-13 Respectively. After Hearing The Ld. D/R We Are Convinced That It Was Prevented By Sufficient Cause From Filing These Appeals On Time. Though The Department Has Not Filed Any Petition/Application For Condonation, The Hon’Ble Apex Court In The Case Of Sesh Nath Singh & Ors. V. Baidyabati · Sheoraphuli Cooperative Bank

For Appellant: Shri Ravi Tulsiyan, FCAFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(3)Section 148Section 250Section 28Section 5

credited refund of VAT in the P & L A/c. and assessee is justified in doing so. A.O. has invoked provisions of section 41(1) of the I.T. Act. However, for invoking the said section, the first condition which should be satisfied is that amount in question have been claimed ... never claimed any deduction regarding payment of VAT on purchase of raw materials in the earlier years. As the first limb of section 41(1) is not justified in appellant's case, A.O. is not justified in invoking section 41(1) of the Act on amount of VAT refund

Dy. Commissioner of Income Tax Central Circle-1(4), Kolkata vs. K Kalpana Industries India Ltd, Kolkata

In the result, both the appeals of the revenue for Assessment Year

ITA 815/KOL/2023[2011-12]Status: DisposedITAT Kolkata21 Mar 2024AY 2011-12

Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. Nos. 815 & 816/Kol/2023 Assessment Year: 2011-12 & 2012-13 Deputy Commissioner Of Income K Kalpana Industries India Ltd., Tax, Central Circle-1(4), Kolkata Vs Kolkata 28, Pretoria Street Kolkata - 700071 [Pan : Aabck2239D] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Ravi Tulsiyan, Fca Revenue By : Shri Rakesh Kumar Das, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 06/02/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/03/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeals Are Directed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeal), Kolkata [Hereinafter The “Ld. Cit(A)”] Evenly Dt. 25/09/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Years 2011-12 & 2012-13. 2. The Registry Has Pointed Out That There Is A Delay Of 34 Days & 11 Days In Filing Of These Appeals By The Department For Assessment Year 2011-12 & 2012-13 Respectively. After Hearing The Ld. D/R We Are Convinced That It Was Prevented By Sufficient Cause From Filing These Appeals On Time. Though The Department Has Not Filed Any Petition/Application For Condonation, The Hon’Ble Apex Court In The Case Of Sesh Nath Singh & Ors. V. Baidyabati · Sheoraphuli Cooperative Bank

For Appellant: Shri Ravi Tulsiyan, FCAFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(3)Section 148Section 250Section 28Section 5

credited refund of VAT in the P & L A/c. and assessee is justified in doing so. A.O. has invoked provisions of section 41(1) of the I.T. Act. However, for invoking the said section, the first condition which should be satisfied is that amount in question have been claimed ... never claimed any deduction regarding payment of VAT on purchase of raw materials in the earlier years. As the first limb of section 41(1) is not justified in appellant's case, A.O. is not justified in invoking section 41(1) of the Act on amount of VAT refund

M/S Prudential Management Advisors Pvt.Ltd., Kolkata vs. ACIT, Cir-3(1), Kolkata.

In the result, appeal of the assessee is partly allowed

ITA 719/KOL/2023[2013-14]Status: DisposedITAT Kolkata21 Mar 2024AY 2013-14

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 719/Kol/2023 Assessment Year: 2013-14 M/S. Prudential Management Assistant Commissioner Of Advisors Pvt. Ltd. Vs Income Tax, Circle-3(1), Kolkata Suite No. 10, 5Th Floor Shantiniketan Building 8, Camac Street Kolkata - 700017 [Pan : Aaecp2505Q] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Manoj Kataruka, A/R Revenue By : Shri Abhijit Kundu, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 22/01/2024 घोषणा क" तारीख /Date Of Pronouncement: 21/03/2024 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter The “Ld. Cit(A)”) Dt. 24/05/2023, Passed U/S 250 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2013-14. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1) That On The Facts & In The Circumstances Of The Case The Action Of The Cit(A) To Confirm The Addition Made By The Ao Of Rs.6,34,50,000/- On Account Of Loss On Sale Of Investments Is Contrary To The Material Evidences Of Record & The Addition Is Arbitrary, Excessive & Illegal. 2) That On The Facts & In The Circumstances Of The Case The Action Of The Cit(A) Confirm The Addition Made By The Ao Of Rs.25,33,00,386/- On Account Of Sundry Creditors U/S 41(1) Of The Act Is Contrary To The Material Evidences Of Record & The Addition Is Arbitrary, Excessive & Illegal.

For Appellant: Shri Manoj Kataruka, A/RFor Respondent: Shri Abhijit Kundu, CIT, D/R
Section 143(2)Section 143(3)Section 250Section 254Section 41(1)

Mercury Fund Management Company Ltd., but did not receive any reply. Ld. Assessing Officer thus, resorted to invoke provisions of Section 41(1) of the Act and added the alleged sum to the income of the assessee. Section 41(1) of the Act having a direct bearing on the issue

M/S.Va Tech Wabag Ltd, Chennai vs. ACIT Central Circle 3(2), Chennai

The appeal stand allowed in terms of our above order

ITA 503/CHNY/2023[2006-07]Status: DisposedITAT Chennai13 Mar 2024AY 2006-07

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manomohan Das

For Appellant: Shri R. Vijayaraghavan (Advocate)-Ld. ARFor Respondent: Shri P. Sajit Kumar (JCIT) – Ld. Sr. DR
Section 143(3)Section 147Section 41(1)Section 80ISection 80l

आयकर अपीलीय अिधकरण ‘सी’ "ायपीठ चे"ई म"। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी मनोज कुमार

Srm Engineering Construction Cororation Ltd., Chennai vs. DCIT, Central Circle-1(3), Chennai

Appeal stand allowed

ITA 489/CHNY/2023[2017-18]Status: DisposedITAT Chennai12 Mar 2024AY 2017-18

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.489/Chny/2023 (िनधा*रणवष* / Assessment Year: 2017-18) M/S.Srm Engineering Construction Dcit बनाम/ Corporation Ltd. Central Circle-1(3) No.24, G.N. Chetty Road, T. Nagar, Chennai. Vs. Chennai-600 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcs-5856-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & आयकरअपीलसं./ Ita No.1084/Chny/2023 (िनधा*रणवष* / Assessment Year: 2017-18) Dcit M/S.Srm Engineering बनाम/ Central Circle-1(3) Construction Corporation Ltd. Chennai. No.24, G.N. Chetty Road, T. Nagar Vs. Chennai-600 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcs-5856-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri D. Anand (Advocate)- Ld.Ar " थ"कीओरसे/Revenue By : Shri N. Balakrishnan (Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 12-03-2024 घोषणा की तारीख /Date Of Pronouncement : 12-03-2024

For Appellant: Shri D. Anand (Advocate)- Ld.ARFor Respondent: Shri N. Balakrishnan (CIT)-Ld. Sr. DR
Section 143(3)Section 14ASection 37(1)Section 41(1)

cessation of liability in this case on the entire amount and the AO was therefore not justified in invoking the provisions of section 41(1) of the Act on the entire amount. It is also not the case of the AO that the debt was a time barred debt ... appellant had received advances even during the current year. I therefore hold that the AO was not correct in applying the provisions of section, 41(1) of the Act to the appellant's case on the entire amounts. 9.1.5 Both the parties accept the liability of the appellant in respect

Deputy Commissioner of Income Tax, Central Circle-1(3), Chennai vs. Srm Engineering Construction Corporation Limited, Chennai

Appeal stand allowed

ITA 1084/CHNY/2023[2017-18]Status: DisposedITAT Chennai12 Mar 2024AY 2017-18

Bench: Hon’Ble Shri Mahavir Singh, Vp & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.489/Chny/2023 (िनधा*रणवष* / Assessment Year: 2017-18) M/S.Srm Engineering Construction Dcit बनाम/ Corporation Ltd. Central Circle-1(3) No.24, G.N. Chetty Road, T. Nagar, Chennai. Vs. Chennai-600 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcs-5856-E (अपीलाथ"/Appellant) : (" थ" / Respondent) & आयकरअपीलसं./ Ita No.1084/Chny/2023 (िनधा*रणवष* / Assessment Year: 2017-18) Dcit M/S.Srm Engineering बनाम/ Central Circle-1(3) Construction Corporation Ltd. Chennai. No.24, G.N. Chetty Road, T. Nagar Vs. Chennai-600 017. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcs-5856-E (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ" कीओरसे/ Assessee By : Shri D. Anand (Advocate)- Ld.Ar " थ"कीओरसे/Revenue By : Shri N. Balakrishnan (Cit)-Ld. Sr. Dr सुनवाई की तारीख/Date Of Hearing : 12-03-2024 घोषणा की तारीख /Date Of Pronouncement : 12-03-2024

For Appellant: Shri D. Anand (Advocate)- Ld.ARFor Respondent: Shri N. Balakrishnan (CIT)-Ld. Sr. DR
Section 143(3)Section 14ASection 37(1)Section 41(1)

cessation of liability in this case on the entire amount and the AO was therefore not justified in invoking the provisions of section 41(1) of the Act on the entire amount. It is also not the case of the AO that the debt was a time barred debt ... appellant had received advances even during the current year. I therefore hold that the AO was not correct in applying the provisions of section, 41(1) of the Act to the appellant's case on the entire amounts. 9.1.5 Both the parties accept the liability of the appellant in respect

M/S. Abhinav Enterprises, Indore vs. PCIT-2, Indore

ITA 339/IND/2023[2015-16]Status: DisposedITAT Indore11 Mar 2024AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2015-16 M/S. Abhinav Enterprises, Pr. Commissioner Of 85, Income-Tax-2, Ramchandra Nagar Extn., Indore. बनाम/ Aerodrum Road, Vs. Indore. (Appellant/Assessee) (Respondent/Revenue) Pan : Aanfa6300Q Assessee By Shri S.S.Deshpande, Ca & Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 05.02.2024 Date Of Pronouncement 11.03.2024

Section 143(3)Section 263

sundry creditors as on the last day of previous year in last three years, to justify the non-applicability of provisions of section 41(1).” (c) Paper-Book Page 34-36 – The AO repeated same notice u/s 142(1) on 25.01.2017 requiring assessee to submit the very same details/ documents ... with a chart showing PAN, Addresses and the balances in the account of each such creditors as on the last day of section 41(1):- Relevant chart with complete details and copies of accounts of such parties are attached.” 14. Regarding production of books of accounts with sales/purchases invoices, expenses

M/S. City Union Bank, Kumbakonam vs. DCIT, Circle - 2 (1), Trichy

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 672/CHNY/2020[2017-18]Status: DisposedITAT Chennai11 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

DCIT Circle-2(1), Trichy vs. City Union Bank Limited, Kumbakonam

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 636/CHNY/2020[2017-18]Status: DisposedITAT Chennai11 Mar 2024AY 2017-18

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

ACIT Circle 1, Kumbakonam vs. City Union Bank Ltd., Kumbakonam

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1419/CHNY/2019[2016-17]Status: DisposedITAT Chennai11 Mar 2024AY 2016-17

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

ACIT Circle 1, Kumbakonam vs. City Union Bank Ltd., Kumbakonam

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1418/CHNY/2019[2015-16]Status: DisposedITAT Chennai11 Mar 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

City Union Bank Limited, Kumbakonam vs. ACIT Circle 1, Kumbakonam

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1121/CHNY/2019[2016-17]Status: DisposedITAT Chennai11 Mar 2024AY 2016-17

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

City Union Bank Limited, Kumbakonam vs. ACIT Circle 1, Kumbakonam

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

ITA 1120/CHNY/2019[2015-16]Status: DisposedITAT Chennai11 Mar 2024AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

For Respondent: Shri. Nilay Baran Som, CIT

आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI "ी वी दुगा" राव, "याियक

Hindustan Coca-Cola Beverages Pvt. Ltd., New Delhi vs. JCIT, Special Range- 4, New Delhi

In the result, Appeals filed by the Assessee in ITA No

ITA 2315/DEL/2019[2012-13]Status: DisposedITAT Delhi05 Mar 2024AY 2012-13

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

facts and circumstances of the case, without prejudice to aforesaid grounds, the Ld. CIT(A)'s action in disallowing container deposits under Section 41(1) is not in accordance with the provisions of the Act since no deduction was ever claimed by Appellant in the past on account of such ... payment of security deposits continue to exist and no sums were written back to the Profit and Loss A/c, so as to invoke Section 41(1) of the Act being a sine-qua-non for taxability of any sum which is in complete disregard of judicial precedents including those

Hindustan Coca-Cola Beverages Pvt. Ltd., New Delhi vs. Addlcit, Special Range-4, New Delhi

In the result, Appeals filed by the Assessee in ITA No

ITA 6506/DEL/2018[2013-14]Status: DisposedITAT Delhi05 Mar 2024AY 2013-14

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

facts and circumstances of the case, without prejudice to aforesaid grounds, the Ld. CIT(A)'s action in disallowing container deposits under Section 41(1) is not in accordance with the provisions of the Act since no deduction was ever claimed by Appellant in the past on account of such ... payment of security deposits continue to exist and no sums were written back to the Profit and Loss A/c, so as to invoke Section 41(1) of the Act being a sine-qua-non for taxability of any sum which is in complete disregard of judicial precedents including those

Addl. CIT, Special Range- 4, New Delhi vs. Hindustan Coca-Cola Beverages Pvt. Ltd., New Delhi

In the result, Appeals filed by the Assessee in ITA No

ITA 6296/DEL/2018[2013-14]Status: DisposedITAT Delhi05 Mar 2024AY 2013-14

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

facts and circumstances of the case, without prejudice to aforesaid grounds, the Ld. CIT(A)'s action in disallowing container deposits under Section 41(1) is not in accordance with the provisions of the Act since no deduction was ever claimed by Appellant in the past on account of such ... payment of security deposits continue to exist and no sums were written back to the Profit and Loss A/c, so as to invoke Section 41(1) of the Act being a sine-qua-non for taxability of any sum which is in complete disregard of judicial precedents including those

Hindustan Coca-Cola Beverages Pvt. Ltd., New Delhi vs. Addl. CIT, Special Range- 4, New Delhi

In the result, Appeals filed by the Assessee in ITA No

ITA 5925/DEL/2018[2011-12]Status: DisposedITAT Delhi05 Mar 2024AY 2011-12

Bench: SHRI M. BALAGANESH (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

facts and circumstances of the case, without prejudice to aforesaid grounds, the Ld. CIT(A)'s action in disallowing container deposits under Section 41(1) is not in accordance with the provisions of the Act since no deduction was ever claimed by Appellant in the past on account of such ... payment of security deposits continue to exist and no sums were written back to the Profit and Loss A/c, so as to invoke Section 41(1) of the Act being a sine-qua-non for taxability of any sum which is in complete disregard of judicial precedents including those