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“disallowance u/s 14A”

DisallowancesSection 14ASection 14A2,938 judgments

The decision most relied on for disallowance u/s 14A is CIT v. Corrtech Energy (P.) Ltd. (223 Taxmann 130), cited in 579 judgments on BharatTax.

Leading authorities on disallowance u/s 14A

CIT v. Corrtech Energy (P.) Ltd.
223 Taxmann 130 · 2014 · High Court
579
citing judgments

Disallowance under Section 14A read with Rule 8D is not warranted if the assessee has not earned any exempt income in the relevant assessment year.

CIT v. Gem Plus Jewellery India Ltd.
330 ITR 175 · 2011 · High Court
207
citing judgments

Disallowances made under various sections, such as for PF/ESIC contributions, result in an increase in business profits, and these enhanced profits are eligible for deduction under Sections 10A and 10AA. Similarly, gains from foreign exchange fluctuations directly linked to export sales are also eligible for deduction under Section 10A.

Cargo Motors (P.) Ltd. v. DCIT
145 Taxmann.com 641 · 2022 · High Court
46
citing judgments

The disallowance under Section 14A read with Rule 8D, particularly Rule 8D(iii) for administrative expenses, should only consider investments that have actually yielded exempt income during the relevant assessment year. Section 14A empowers the Assessing Officer to determine expenditure related to income not forming part of total income.

Sobha Developers Ltd. v. DCIT
125 Taxmann.com 72 · 2021 · High Court
44
citing judgments

Disallowance under section 14A is a notional disallowance and cannot be added back while computing Book Profits under section 115JB for Minimum Alternate Tax purposes.

Tata Industries Ltd. v. ITO
181 TTJ 600 · 2016 · ITAT
29
citing judgments

Disallowance under Section 14A cannot exceed the exempt income earned by the assessee. Even if interest expenditure is considered, it cannot be solely attributed to earning exempt dividend income as investors also consider potential capital gains.

PCIT v. J.J. Glastronics (P.) Ltd.
139 Taxmann.com 375 · 2022 · High Court
28
citing judgments

Additions made under Section 14A of the Income-tax Act, read with Rule 8D, cannot be considered for computing book profit under Section 115JB of the Act.

M/s.Bajaj Allianz General Insurance Co. Ltd. v. ACIT
38 DTR 282 · 2010 · Reported
26
citing judgments

Section 14A of the Income-tax Act is not applicable to insurance businesses governed by specific provisions of Section 44 and Schedule 1. Profit on sale of investments by insurance companies is not taxable, especially after the deletion of sub-rule (b) of Rule 5 of the First Schedule.

PCIT v. Dipesh Lalchand Shah
143 Taxmann.com 419 · 2022 · High Court
18
citing judgments

Disallowance under section 14A cannot be made if the assessee has not earned any exempt income in the relevant assessment year. This applies even if the assessee has made investments in shares or has income from a partnership that is negative.

Judgments citing disallowance u/s 14A

Dy. Commissioner of Income Tax Circle - 3(3)(1), Mumbai vs. Everest Securities and Finance Limited, Mumbai

In the result the appeal of the Revenue is dismissed , whereas

ITA 2818/MUM/2023[2017-18]Status: DisposedITAT Mumbai26 Mar 2024AY 2017-18

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2017-18 Dy. Cit Circle 3(3)(1), Everest Securities & Finance Room No. 609, Aayakar Ltd., Vs. Bhavan, M.K. Road, Tower 3, Wing B, Kohinoor City Churchgate, Mall Kohinoor City, Kirol Road, Mumbai-400020. Kurla West, Mumbai-400070. Pan No. Aacce 3678 B Appellant Respondent

For Respondent: Mr. Siddhesh Chougule
Section 115JSection 14A

fficer observed that assessee earned dividend dividend income income of of Rs.48,21,635/ Rs.48,21,635/- and and made made suo-motu disallowance u/s 14A of the Act amounting to Rs.96,913/-. The disallowance u/s 14A of the Act amounting to Rs.96,913/ disallowance u/s 14A ... Assessing Officer on the cl dissatisfaction was recorded by the Assessing Officer on the cl the assessee for suo-motu motu disallowance u/s 14A of the Act. disallowance u/s 14A of the Act. 5. Aggrieved, both Revenue and the assessee are before the Aggrieved, both Revenue and the assessee

DCIT-CC-4(2), Mumbai vs. Birla Group Holdings Pvt. Ltd, Mumbai

In the result, the appeal of the Revenue is allowed

ITA 2693/MUM/2023[2018-19]Status: DisposedITAT Mumbai26 Mar 2024AY 2018-19

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2018-19 Dy. Cit, Cc-4(2), Central Birla Group Holdings Pvt. Ltd., Range-4, 1St Floor Industry House, 159 Vs. Room No. 1921, 19Th Floor, Churchgate Reclamation, Air India Building Nariman Churchgate, Mumbai-400020. Point, Mumbai-400021. Pan No. Aaacr 2250 C Appellant Respondent

For Respondent: Mr. Sunil Hirawat
Section 10Section 14A

short ‘the Ld. CIT(A)’] for assessment year 2018-19, raising following grounds: 1. "The Ld. CIT(A) has erred in restricting the disallowance u/s 14A to Rs. 17,49,706/- by ignoring the Birla Group Holdings Pvt. Ltd. 2 provisions of provisions of section 14A r.w.r. 8D(2) which ... claimed as exempted from the income been claimed as exempted from the income-tax. The assessee itself tax. The assessee itself has computed disallowance u/s 14A invoking Rule 8D(2), firstly has computed disallowance u/s 14A invoking Rule 8D(2) has computed disallowance u/s 14A invoking Rule 8D(2) under

ACIT, New Delhi vs. M/S. Jindal Poly Films Ltd., Bulandshahr

In the result, the appeals of assessee for AY 2007-08 is allowed partly and of other years in hand is allowed with consequences to follow as per the determination of issues above and appeals of rev...

ITA 3364/DEL/2016[2007-08]Status: DisposedITAT Delhi26 Mar 2024AY 2007-08

Bench: Shri G.S. Pannu, Vice- & Shri Anubhav Sharma

Section 14ASection 153ASection 250

specifically pleaded that the investment made in Growth Option Mutual Fund fall outside the purview of section 14A and finally that disallowance u/s 14A cannot exceed exempt dividend income. The ld. CIT(A) agreed with the appellant assessee and directed the AO to restrict the disallowance to exempt dividend income

Soubhik Exports Limited., Kolkata vs. DCIT, Cir-8(2), Kolkata / N E-Assessment Centre, Delhi.

ITA 1243/KOL/2023[2018-19]Status: DisposedITAT Kolkata19 Mar 2024AY 2018-19

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

For Appellant: Shri P.K. Singh, A/RFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(2)Section 143(3)Section 147Section 14ASection 250Section 68

issue of addition u/s 68 of the Act and the addition for unexplained unsecured loan was confirmed. As far as the disallowance u/s 14A of the Act is concerned, the assessee got part relief. 5. Now, the assessee is in appeal before this Tribunal. 6. With regard to the addition

Soubhik Exports Limited., Kolkata vs. DCIT, Cir-8(2), Kolkata.

ITA 1242/KOL/2023[2012-13]Status: DisposedITAT Kolkata19 Mar 2024AY 2012-13

Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Ble

For Appellant: Shri P.K. Singh, A/RFor Respondent: Shri Rakesh Kumar Das, CIT, D/R
Section 143(2)Section 143(3)Section 147Section 14ASection 250Section 68

issue of addition u/s 68 of the Act and the addition for unexplained unsecured loan was confirmed. As far as the disallowance u/s 14A of the Act is concerned, the assessee got part relief. 5. Now, the assessee is in appeal before this Tribunal. 6. With regard to the addition

Atlanta Electricals Private Limited, Anand vs. Income Tax Officer, Ward1(1)(1), Vadodara (Now Circle 1(1)(1), Vadodara)

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

ITA 730/AHD/2023[2014-15]Status: DisposedITAT Ahmedabad15 Mar 2024AY 2014-15

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकरअपीलसं./Ita No.730/Ahd/2023 धििाधरणवरध/Asstt. Year: 2014-2015 Atlanta Electricals Pvt. Ltd., Income Tax Officer, Plot No.1503-04 Phase Iv, Vs. Ward(1)(1)(1), Anand Vithal Udyognagar, Vadodara. Anand-388121. (Now Circle 1(1)(1), Vadodara. Pan: Aabca6647B

For Appellant: Ms Amrin Pathan, ARFor Respondent: Shri Prateek Sharma, Sr.DR
Section 115JSection 14A

such exempted income was made under the provision of section 14A r.w. Rule 8D of Income tax Rules. Therefore, the AO made the disallowance u/s 14A r.w. rule 8D of Income Tax Rules for Rs. 88,01,957/- and Rs. 11,32,554/- on account of interest and administrative expenses ... before us. 6. The Ld.AR before us filed a paper book running from pages 1 to 74 and inter-alia contended that the disallowance u/s 14A r.w. Rule 8D of Income Tax Rules cannot exceed the exempted income i.e. Rs.1,08,650/- only. 7. On the other hand

The ACIT, Circle-1(1)(1), Vadodara vs. Gujarat Urja Vikas Nigam Limited, Vadodara

In the result, the appeal of the assessee is allowed for statistical purposes and the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 178/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad15 Mar 2024AY 2018-19

Bench: Smt. Annapurna Gupta & Ms. Madhumita Roy

For Appellant: Respondent by : Shri Akhilendra Pratap Yadaw, CIT DRFor Respondent: Shri Akhilendra Pratap Yadaw, CIT DR
Section 143(3)Section 14ASection 234ASection 270A

file of the Ld. AO to adjudicate de novo with the following observation: “4.1. Regarding grounds no. 1.0 to 1.2 namely disallowance u/s. 14A. Both the parties submitted that this issue is squarely covered in assessee’s own case by Co-ordinate Bench of this Tribunal ... raised the ground against the sustained addition of Rs.61.46 crores whereas Revenue has challenged the deletion of Rs.91 crores out of the disallowance u/s 14A of the Act. 10. In ITA No.1874/Ahd/2010 vide its order dated 20.6.2014 the Tribunal adjudicated the issue relating to disallowance u/s 14A and held

Gujarat Urja Vikas Nigam Limited, Vadodara vs. The Dy. Commissioner of Income Tax, Circle-1(1)(1), Vadodara

In the result, the appeal of the assessee is allowed for statistical purposes and the appeal filed by the Revenue is partly allowed for statistical purposes

ITA 139/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad15 Mar 2024AY 2018-19

Bench: Smt. Annapurna Gupta & Ms. Madhumita Roy

For Appellant: Respondent by : Shri Akhilendra Pratap Yadaw, CIT DRFor Respondent: Shri Akhilendra Pratap Yadaw, CIT DR
Section 143(3)Section 14ASection 234ASection 270A

file of the Ld. AO to adjudicate de novo with the following observation: “4.1. Regarding grounds no. 1.0 to 1.2 namely disallowance u/s. 14A. Both the parties submitted that this issue is squarely covered in assessee’s own case by Co-ordinate Bench of this Tribunal ... raised the ground against the sustained addition of Rs.61.46 crores whereas Revenue has challenged the deletion of Rs.91 crores out of the disallowance u/s 14A of the Act. 10. In ITA No.1874/Ahd/2010 vide its order dated 20.6.2014 the Tribunal adjudicated the issue relating to disallowance u/s 14A and held

ACIT, CC- 3(4), Kolkata vs. M/S. Himatsingka Seide Limited, Bangalore

In the result, appeal of the assessee in IT(SS)A No

ITA 785/KOL/2018[2008-09]Status: DisposedITAT Kolkata15 Mar 2024AY 2008-09

Bench: Shri Sanjay Garg & Shri Girish Agrawalit(Ss)A No.17/Kol/2018 Assessment Year: 2008-09 Himatsingka Seide Ltd. Deputy Commissioner Of 10/24, Kumara Krupa Road, High Vs. Income Tax, Central Circle- Grounds, Bangalore-560001. Xvi, Kolkata. (Pan: Aaach3507N) (Appellant) (Respondent) & It(Ss)A No.20/Kol/2018 Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent) & Assessment Year: 2008-09 Assistant Commissioner Of Himatsingka Seide Ltd. Vs. Income-Tax, Central Circle-3(4), Kolkata. (Appellant) (Respondent)

For Appellant: Shri Nageswar Rao, Sr. AdvocateFor Respondent: Shri Abhijit Kundu, CIT, DR
Section 143(3)Section 14ASection 153ASection 271Section 92C

facts and in the circumstances of the case, Ld. CIT(A) has erred in law as well as on facts in deciding that disallowance u/s 14A read with Rule 8D without considering the CBDT's Circular No. 5/2014 dated: 11.02.2014. 10) That on the facts and in the circumstances ... vide order u/s. 143(3) dated 03.01.2012”. Three items are – i) T.P. Adjustment u/s. 92CA Rs.6,90,90,330 ii) Disallowance u/s. 14A read Rs.40,03,074 with Rule 8D Less: Disallowance u/s. 14A Rs. 7,18,534 Rs. 32,84,540 made by the assessee iii) Disallowance of capitalized

Adi Lim Bilimoria, Mumbai vs. Dy. CIT 4(1)(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 4835/MUM/2019[2015-16]Status: DisposedITAT Mumbai15 Mar 2024AY 2015-16

Bench: Justice (Retd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

Section 14ASection 14A(2)

computing disallowance as per rule 8D. However, he accepted the alternative contention of the assessee and directed the Assessing Officer to restrict the disallowance u/s 14A of the Act to Rs. 28,55,953/- equivalent to the exempt income as noted by him. 7. The main grievance of the assessee ... exempt income are accounted together. This is not the case here. Hence, there is merit in the contentions of the assessee that no disallowance u/s 14A of the Act is called for, since no part of business expenditure is related to the exempt income. However, we noticed that

Adi Lim Bilimoria, Mumbai vs. Dy. CIT 4(1)(1), Mumbai

In the result, both the appeals of the assessee are allowed

ITA 4834/MUM/2019[2014-15]Status: DisposedITAT Mumbai15 Mar 2024AY 2014-15

Bench: Justice (Retd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

Section 14ASection 14A(2)

computing disallowance as per rule 8D. However, he accepted the alternative contention of the assessee and directed the Assessing Officer to restrict the disallowance u/s 14A of the Act to Rs. 28,55,953/- equivalent to the exempt income as noted by him. 7. The main grievance of the assessee ... exempt income are accounted together. This is not the case here. Hence, there is merit in the contentions of the assessee that no disallowance u/s 14A of the Act is called for, since no part of business expenditure is related to the exempt income. However, we noticed that

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)

Rules, towards such restriction of the disallowance to the exempt income earned or in case of non earning of exempt income no disallowance u/s. 14A can be made. 4. For these grounds and any other ground including amendment of grounds that may be raised during the course of the appeal ... deduction of Works Contract Tax (WCT). The issues in revenue’s appeal are two-fold i.e., cessation of liability u/s 41(1) and disallowance u/s 14A. 1.6 The Ld. CIT-DR advanced arguments in support of assessment order. The Ld. AR also advanced arguments and drew our attention

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)

Rules, towards such restriction of the disallowance to the exempt income earned or in case of non earning of exempt income no disallowance u/s. 14A can be made. 4. For these grounds and any other ground including amendment of grounds that may be raised during the course of the appeal ... deduction of Works Contract Tax (WCT). The issues in revenue’s appeal are two-fold i.e., cessation of liability u/s 41(1) and disallowance u/s 14A. 1.6 The Ld. CIT-DR advanced arguments in support of assessment order. The Ld. AR also advanced arguments and drew our attention

ITO Ward - 7(1), New Delhi vs. Devika Gold Homz Pvt Ltd, New Delhi

In the result, the appeal of the revenue is dismissed

ITA 563/DEL/2020[2014-15]Status: DisposedITAT Delhi12 Mar 2024AY 2014-15

Bench: Shri M. Balaganesh & Shri Yogesh Kumar Usito, Vs. Devika Gold Homz Pvt. Ltd, Ward-7(1), Stilt Floor, Devika Tower, New Delhi New Delhi (Appellant) (Respondent) Pan:Aalcs4525J Assessee By : Shri Somil Agarwal, Adv Shri Deepesh Garg, Adv Revenue By: Shri Vivek Kumar Upadhyay, Sr. Dr Date Of Hearing 18/12/2023 Date Of Pronouncement 12/03/2024

For Appellant: Shri Somil Agarwal, AdvFor Respondent: Shri Vivek Kumar Upadhyay, Sr. DR
Section 143Section 143(3)

accordingly, ground 1 raised by the revenue is dismissed. 10. The ground No. 2 raised by the revenue is challenging the deletion of disallowance u/s 14A of the Act where there is no exempt income. This issue is no longer res integra in view of the recent decision ... wherein, it was held categorically that if there is no exempt income earned by the Devika Gold Homz Pvt. Ltd assessee, disallowance u/s 14A of the Act cannot be pressed into service. Respectfully following the same, ground No. 2 raised by the revenue is dismissed. 11. In the result

Central Warehousing Corporation, New Delhi vs. DCIT, Circle-5(2), New Delhi

In the result, appeal of the assessee is dismissed as infructuous

ITA 9597/DEL/2019[2011-12]Status: DisposedITAT Delhi12 Mar 2024AY 2011-12

Bench: Shri Challa Nagendra Prasad & Dr. B.R.R. Kumarआ.अ.सं/.I.T.A No.9597/Del/2019 िनधा"रणवष"/Assessment Year: 2011-12 बनाम Central Warehousing Corporation, Dcit 4/1, Siri Industrial Area, Vs. Circle-5(2), August Kranti Marg, New Delhi. New Delhi. Pan No. Aaacc1206D अपीलाथ" Appellant ""यथ"/Respondent & Cross Objection No. 236/Del/2017 (In I.T.A No.5647/Del/2017) िनधा"रणवष"/Assessment Year: 2011-12 बनाम Central Warehousing Corporation, Acit 4/1, Siri Industrial Area, Vs. Circle-5(2), August Kranti Marg, New Delhi. New Delhi. Pan No. Aaacc1206D अपीलाथ" Appellant ""यथ"/Respondent

Section 115JSection 14A

These three grounds in the CO and three grounds in the instant appeal pertain to a single issue being the disallowance u/s 14A of the Act. The discussion on this issue is contained in the assessment order at pages 3 and 4. The Ld. CIT(A) has decided this issue

Maruti Suzuki India Ltd., New Delhi vs. Addl. CIT, New Delhi

In the result, the appeal of the assessee in ITA No

ITA 4081/DEL/2010[2003-04]Status: PendingITAT Delhi12 Mar 2024AY 2003-04

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Rajesh Kumar, CIT-DR

supra], we direct the Assessing Officer to delete the impugned addition. This ground is allowed. 40. Ground No. 7 to 7.3 relates to disallowance u/s 14A of the Act. 41. Similar quarrel traveled upto the Hon'ble High Court of Delhi

Sarvottam Caps Pvt. Ltd., Kolkata vs. PCIT-2, Kolkata

In the result, ITA No. 202/KOL/2021 is dismissed

ITA 202/KOL/2021[2015-16]Status: DisposedITAT Kolkata11 Mar 2024AY 2015-16

Bench: Sri Rajesh Kumar & Sri Anikesh Banerjee

Section 115JSection 143(3)Section 14ASection 263

include 14A Disallowance of Rs.77,08,984/- in computation of book profits u/s 115JB is void ab initio inasmuch as such disallowance u/s 14A is already included in computation of Book Profit u/s 115JB in original Assessment Order u/s 143(3) dated 29.11.2017. 7. FOR THAT in any case 14A ... after addition by AO for provisions of bad and doubtful debt for Rs. 1,86,29,997/- and Rs. 17,08,984/- for disallowance u/s 14A. Tax on normal provision is computed for Rs. 3,09,74,317/- and in Section 115JB tax on book profit was computed

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

stated in their appellate order dated 18.02.2018, partly allowed appeal filed by the assessee, where the ld. CIT(A) deleted additions made towards disallowance u/s. 14A r.w.r. 8D of I.T. Rules, 1962, excess depreciation on ATMs, accrued interest on NPA, accrued interest on government securities and additions towards income assessed

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

stated in their appellate order dated 18.02.2018, partly allowed appeal filed by the assessee, where the ld. CIT(A) deleted additions made towards disallowance u/s. 14A r.w.r. 8D of I.T. Rules, 1962, excess depreciation on ATMs, accrued interest on NPA, accrued interest on government securities and additions towards income assessed

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

stated in their appellate order dated 18.02.2018, partly allowed appeal filed by the assessee, where the ld. CIT(A) deleted additions made towards disallowance u/s. 14A r.w.r. 8D of I.T. Rules, 1962, excess depreciation on ATMs, accrued interest on NPA, accrued interest on government securities and additions towards income assessed