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“revenue expenditure”

Business ExpensesSection 37Section 373,350 judgments

The decision most relied on for revenue expenditure is CIT v. Woodward Governor India Pvt. Ltd. (312 ITR 254), cited in 968 judgments on BharatTax.

Leading authorities on revenue expenditure

CIT v. Woodward Governor India Pvt. Ltd.
312 ITR 254 · 2009 · Supreme Court
968
citing judgments

Foreign exchange fluctuations, whether gains or losses, are inextricably linked to the underlying business transaction and must be accounted for under the mercantile system. The Supreme Court also affirmed the standard accounting principle of valuing stock at cost or net realisable value, whichever is lower.

CIT v. Excel Industries Ltd.
358 ITR 295 · 2013 · Supreme Court
935
citing judgments

When an income or expenditure is revenue neutral across different assessment years, where any benefit derived is offset by a corresponding liability or reversal, no additional tax liability arises, particularly concerning income recognition under the mercantile system of accounting.

Rotork Controls India Pvt. Ltd. v. CIT
314 ITR 62 · 2009 · Supreme Court
739
citing judgments

A provision for expenses, such as warranty, is a deductible liability for income tax purposes if it constitutes a present obligation arising from past events, and a reliable estimate of the amount of obligation is possible.

Empire Jute Co. Ltd. v. CIT
124 ITR 1 · 1980 · Supreme Court
622
citing judgments

Expenditure is classified as revenue or capital based on its practical business effect, necessity, or expediency, rather than solely on the juristic classification of rights; an enduring benefit does not automatically make an expenditure capital if it facilitates trading operations or business efficiency.

Madras Industrial Investment Corporation Ltd. v. CIT
225 ITR 802 · 1997 · Supreme Court
568
citing judgments

Expenditure that provides an enduring benefit should be amortized over its useful life, not allowed as a deduction in a single year, to prevent a distorted picture of profits. Specifically, premium paid on debentures for their issue should be amortized on a straight-line method over the life of the debentures.

Umacharan Shaw & Bros. v. CIT
37 ITR 271 · 1959 · Supreme Court
567
citing judgments

An income tax assessment or addition cannot be sustained solely on the basis of suspicion, surmises, or conjectures, as strong suspicion does not amount to proof. The revenue authorities must rely on concrete evidence and material to frame an assessment.

Sony Ericsson Mobile Communications India Pvt. Ltd. v. CIT
374 ITR 118 · 2015 · High Court
499
citing judgments

The existence of an international transaction for Advertising and Marketing Promotion (AMP) expenditure requires the revenue to discharge the burden of proof. An explanation inserted under Section 92B does not automatically make AMP expenditure an international transaction.

CIT v. Dalmia Cement (Bharat) Ltd.
254 ITR 377 · 2002 · High Court
417
citing judgments

When there is a nexus between an expenditure and the purpose of business, incurred on grounds of commercial expediency, the Revenue cannot question its reasonableness or assume the role of the businessman to compel profit maximization. This principle applies even if the business is not that of the assessee itself.

Judgments citing revenue expenditure

DCIT., Circle-13(1), Hyderabad vs. The Singareni Collieries Company Limited, Kothagudem

In the result, assessee’s appeals for the A

ITA 308/HYD/2024[AY-2020-2]Status: DisposedITAT Hyderabad12 Jun 2025

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita Nos.283, 284 & 286/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Singareni Collieries Vs. Acit, Circle – 1 Company Limited Khammam & Kothagudem Acit, Circle 13(1) Pan:Aaact8873F Hyderabad & आ.अपी.सं /Ita Nos.300, 301 & 308/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Vs. Singareni Collieries Dy. Cit, Circle 13(1) Company Limited Hyderabad Kothagudem Pan:Aaact8873F (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V.Anil Kumar, Advocate राज" व "ारा/Revenue By:: Shri B Balakrishna, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 10/06/2025 घोषणा की तारीख/Pronouncement: 12/06/2025 आदेश/Order Per Bench: These 3 Sets Of Cross Appeals Filed By The Assessee As Well As The Revenue Are Directed Against The 3 Separate Orders All Dated 30/01/2024 Of The Learned Cit (A)-Nfac Delhi, For The A.Ys 2015-16, 2016-17 & 2020-21 Respectively. The Assessee As Well As The Revenue Have Raised The Following Grounds Of Appeals For 3 A.Ys:

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Shri B Balakrishna, CIT (DR)
Section 40A(9)

ITA Nos 283 284 286 and 300 301 and 308 of 2024 Singareni Collieries Company Ltd आयकर अपील"य अ

DCIT., Circle-13(1), Hyderabad vs. The Singareni Collieries Company Ltd, Kothagudem

In the result, assessee’s appeals for the A

ITA 300/HYD/2024[2015--16]Status: DisposedITAT Hyderabad12 Jun 2025

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita Nos.283, 284 & 286/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Singareni Collieries Vs. Acit, Circle – 1 Company Limited Khammam & Kothagudem Acit, Circle 13(1) Pan:Aaact8873F Hyderabad & आ.अपी.सं /Ita Nos.300, 301 & 308/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Vs. Singareni Collieries Dy. Cit, Circle 13(1) Company Limited Hyderabad Kothagudem Pan:Aaact8873F (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V.Anil Kumar, Advocate राज" व "ारा/Revenue By:: Shri B Balakrishna, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 10/06/2025 घोषणा की तारीख/Pronouncement: 12/06/2025 आदेश/Order Per Bench: These 3 Sets Of Cross Appeals Filed By The Assessee As Well As The Revenue Are Directed Against The 3 Separate Orders All Dated 30/01/2024 Of The Learned Cit (A)-Nfac Delhi, For The A.Ys 2015-16, 2016-17 & 2020-21 Respectively. The Assessee As Well As The Revenue Have Raised The Following Grounds Of Appeals For 3 A.Ys:

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Shri B Balakrishna, CIT (DR)
Section 40A(9)

ITA Nos 283 284 286 and 300 301 and 308 of 2024 Singareni Collieries Company Ltd आयकर अपील"य अ

Singareni Collieries Company Limited, Kothagudem vs. DCIT., Circle-13(1), Hyderabad

ITA 286/HYD/2024[2020-21]Status: DisposedITAT Hyderabad12 Jun 2025AY 2020-21

Bench: Shri Vijay Pal Rao, Vice- & Shri Manjunatha, G.आ.अपी.सं / Ita Nos.283, 284 & 286/Hyd/2024 (निर्धारण वर्ष/Assessment Years: 2015-16, 2016-17 & 2020-21) Singareni Collieries Vs. Acit, Circle – 1 Company Limited Khammam & Kothagudem Acit, Circle 13(1) Pan:Aaact8873F Hyderabad & आ.अपी.सं / Ita Nos.300, 301 & 308/Hyd/2024 (निर्धारण वर्ष/Assessment Years: 2015-16, 2016-17 & 2020-21) Vs. Dy. Cit, Circle 13(1) Hyderabad Singareni Collieries Company Limited Kothagudem Pan:Aaact8873F (Appellant) (Respondent) निर्धारिती द्वारा / Assessee By: Shri M.V.Anil Kumar, Advocate राजस्व द्वारा / Revenue By:: Shri B Balakrishna, Cit (Dr) सुनवाई की तारीख / Date Of Hearing: 10/06/2025 घोषणा की तारीख / Pronouncement: 12/06/2025 आदेश/Order Per Bench: These 3 Sets Of Cross Appeals Filed By The Assessee As Well As The Revenue Are Directed Against The 3 Separate Orders All Dated 30/01/2024 Of The Learned Cit (A)-Nfac Delhi, For The A.Ys 2015-16, 2016-17 & 2020-21 Respectively. The Assessee As Well As The Revenue Have Raised The Following Grounds Of Appeals For 3 A.Ys:

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Shri B Balakrishna, CIT (DR)
Section 194Section 32ASection 37Section 40Section 40A(9)

accordance with law. (iii) Whether the CIT(A) erred in holding that the capital expenditure incurred by the assessee is to be treated as revenue expenditure when the capital expenditure does not lead to the creation of asset. (iv) Whether the CIT(A) ought to have seen that the expenditure ... accordance with law. (iii) Whether the CIT(A) erred in holding that the capital expenditure incurred by the assessee is to be treated as revenue expenditure when the capital expenditure does not lead to the creation of asset. (iv) Whether the CIT(A) ought to have seen that the expenditure

Singareni Collieries Company Limited, Kothagudem vs. ACIT., Circle-1, Khammam

In the result, assessee’s appeals for the A

ITA 284/HYD/2024[2016-17]Status: DisposedITAT Hyderabad12 Jun 2025AY 2016-17

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita Nos.283, 284 & 286/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Singareni Collieries Vs. Acit, Circle – 1 Company Limited Khammam & Kothagudem Acit, Circle 13(1) Pan:Aaact8873F Hyderabad & आ.अपी.सं /Ita Nos.300, 301 & 308/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Vs. Singareni Collieries Dy. Cit, Circle 13(1) Company Limited Hyderabad Kothagudem Pan:Aaact8873F (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V.Anil Kumar, Advocate राज" व "ारा/Revenue By:: Shri B Balakrishna, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 10/06/2025 घोषणा की तारीख/Pronouncement: 12/06/2025 आदेश/Order Per Bench: These 3 Sets Of Cross Appeals Filed By The Assessee As Well As The Revenue Are Directed Against The 3 Separate Orders All Dated 30/01/2024 Of The Learned Cit (A)-Nfac Delhi, For The A.Ys 2015-16, 2016-17 & 2020-21 Respectively. The Assessee As Well As The Revenue Have Raised The Following Grounds Of Appeals For 3 A.Ys:

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Shri B Balakrishna, CIT (DR)
Section 40A(9)

ITA Nos 283 284 286 and 300 301 and 308 of 2024 Singareni Collieries Company Ltd आयकर अपील"य अ

Singareni Collieries Company Limited, Kothagudem vs. ACIT., Circle- 1, Khammam

In the result, assessee’s appeals for the A

ITA 283/HYD/2024[2015-16]Status: DisposedITAT Hyderabad12 Jun 2025AY 2015-16

Bench: Shri Vijay Pal Rao, Vice-A N D Shri Manjunatha, G.आ.अपी.सं /Ita Nos.283, 284 & 286/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Singareni Collieries Vs. Acit, Circle – 1 Company Limited Khammam & Kothagudem Acit, Circle 13(1) Pan:Aaact8873F Hyderabad & आ.अपी.सं /Ita Nos.300, 301 & 308/Hyd/2024 (िनधा"रण वष"/Assessment Years: 2015-16, 2016-17 & 2020-21) Vs. Singareni Collieries Dy. Cit, Circle 13(1) Company Limited Hyderabad Kothagudem Pan:Aaact8873F (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri M.V.Anil Kumar, Advocate राज" व "ारा/Revenue By:: Shri B Balakrishna, Cit (Dr) सुनवाई की तारीख/Date Of Hearing: 10/06/2025 घोषणा की तारीख/Pronouncement: 12/06/2025 आदेश/Order Per Bench: These 3 Sets Of Cross Appeals Filed By The Assessee As Well As The Revenue Are Directed Against The 3 Separate Orders All Dated 30/01/2024 Of The Learned Cit (A)-Nfac Delhi, For The A.Ys 2015-16, 2016-17 & 2020-21 Respectively. The Assessee As Well As The Revenue Have Raised The Following Grounds Of Appeals For 3 A.Ys:

For Appellant: Shri M.V.Anil Kumar, AdvocateFor Respondent: : Shri B Balakrishna, CIT (DR)
Section 40A(9)

ITA Nos 283 284 286 and 300 301 and 308 of 2024 Singareni Collieries Company Ltd आयकर अपील"य अ

DCIT-2(3)(1), Mumbai vs. Kotatk Mahindra Bank Ltd, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 5110/MUM/2024[2021-22]Status: DisposedITAT Mumbai11 Jun 2025AY 2021-22

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

Bank Ltd. 10. Ground No. 4 relates to the allowance of interest in relation to the broken period of securities held to maturity as revenue expenditure. 10.1 An identical issue was considered by the coordinate bench in ITA No. 3754/Mum/2023 for AY 2019-20. The relevant findings read as under ... Bank Ltd SLP Diary no. 19414/2018 dated 19.10.2019 on a reference as to whether broken period interest on HTM Securities should be disallowed as revenue expenditure and should be capitalized to the cost of the securities. 33. We have carefully considered all the relevant facts of the case

DCIT-2(3)(1), Mumbai vs. Kotak Mahindra Bank Ltd, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 5075/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

Bank Ltd. 10. Ground No. 4 relates to the allowance of interest in relation to the broken period of securities held to maturity as revenue expenditure. 10.1 An identical issue was considered by the coordinate bench in ITA No. 3754/Mum/2023 for AY 2019-20. The relevant findings read as under ... Bank Ltd SLP Diary no. 19414/2018 dated 19.10.2019 on a reference as to whether broken period interest on HTM Securities should be disallowed as revenue expenditure and should be capitalized to the cost of the securities. 33. We have carefully considered all the relevant facts of the case

Kotak Mahindra Bank Limited, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 4950/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

Bank Ltd. 10. Ground No. 4 relates to the allowance of interest in relation to the broken period of securities held to maturity as revenue expenditure. 10.1 An identical issue was considered by the coordinate bench in ITA No. 3754/Mum/2023 for AY 2019-20. The relevant findings read as under ... Bank Ltd SLP Diary no. 19414/2018 dated 19.10.2019 on a reference as to whether broken period interest on HTM Securities should be disallowed as revenue expenditure and should be capitalized to the cost of the securities. 33. We have carefully considered all the relevant facts of the case

Kotak Mahindra Bank Limited, Mumbai vs. Assessment Unit, Income Tax Department, Mumbai

In the result, the appeal of the assessee is allowed in part for statistical purposes

ITA 4946/MUM/2024[2021-22]Status: DisposedITAT Mumbai11 Jun 2025AY 2021-22

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सुं./Ita No. 4950/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 4946/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Kotak Mahindra Bank Ltd. V/S. Assessment Unit, Income 27 Bkc, Plot No. C 27, G बिाम Tax Department Block, Bandra Kurla Government Of India, Complex, Bandra, Ministry Of Finance, Maharashtra-400051 Maharashtra-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी आयकर अपील सुं./Ita No. 5075/Mum/2024 (नििाारण वर्ा / Assessment Year :2020-21) आयकर अपील सुं./Ita No. 5110/Mum/2024 (नििाारण वर्ा / Assessment Year :2021-22) Dcit-2(3)(1), Mumbai V/S. Kotak Mahindra Bank Ltd. 552, Aayakar Bhawan, बिाम 27 Bkc, Plot No. C 27, G M.K. Road, Churchgate, Block, Bandra Kurla Maharashtra-400020 Complex, Bandra, Maharashtra-400051 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaack4409J Appellant/अपीलार्थी .. Respondent/प्रनिवादी निर्ााररती की ओर से /Assessee By: Shri Madhur Agrawal राजस्व की ओर से /Revenue By: Shri Ritesh Misra

For Appellant: Shri Madhur AgrawalFor Respondent: Shri Ritesh Misra
Section 41

Bank Ltd. 10. Ground No. 4 relates to the allowance of interest in relation to the broken period of securities held to maturity as revenue expenditure. 10.1 An identical issue was considered by the coordinate bench in ITA No. 3754/Mum/2023 for AY 2019-20. The relevant findings read as under ... Bank Ltd SLP Diary no. 19414/2018 dated 19.10.2019 on a reference as to whether broken period interest on HTM Securities should be disallowed as revenue expenditure and should be capitalized to the cost of the securities. 33. We have carefully considered all the relevant facts of the case

ACIT Circle, 3(4), Mumbai vs. Union Bank of India, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2119/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सं./Ita No. 2037/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2038/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Union Bank Of India, Finance & Accounts, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 V/S. बनाम Dcit, Circle- (Ltu) 2, Mumbai Room No. 421, 4Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी .. Respondent/प्रतिवादी आयकर अपील सं./Ita No. 2119/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2118/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Acit, Circle-3(4), Mumbai Room No. 559, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 V/S. Union Bank Of India, Finance & Accounts, Union बनाम Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Page 2

For Appellant: Shri C. NareshFor Respondent: Shri Vikas K. Suryawanshi
Section 144Section 14A

Regulation Act, 1947 alleging violation of KYC norms. Both the authorities below hold that a penalty imposed does not give rise to any corresponding revenue expenditure being penal in nature. 21. It has come on record that this penalty arises from the assessee's action in opening 250 FDRs (supra ... follow the aforestated case law in these facts and direct the assessing authority to allow the assessee's claim of Rs.5 lacs as revenue expenditure." In Mangal Keshav Securities Ltd. (supra), the assessee was engaged in the business of share/stock broking. It paid a sum of fine/penalty to stock exchange

ACIT, Circle -3(4), Mumbai vs. Union Bank of India, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2118/MUM/2024[2021-22]Status: DisposedITAT Mumbai11 Jun 2025AY 2021-22

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सं./Ita No. 2037/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2038/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Union Bank Of India, Finance & Accounts, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 V/S. बनाम Dcit, Circle- (Ltu) 2, Mumbai Room No. 421, 4Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी .. Respondent/प्रतिवादी आयकर अपील सं./Ita No. 2119/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2118/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Acit, Circle-3(4), Mumbai Room No. 559, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 V/S. बनाम Union Bank Of India, Finance & Accounts, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Page 2

For Appellant: Shri C. NareshFor Respondent: Shri Vikas K. Suryawanshi
Section 144Section 14A

Regulation Act, 1947 alleging violation of KYC norms. Both the authorities below hold that a penalty imposed does not give rise to any corresponding revenue expenditure being penal in nature. 21. It has come on record that this penalty arises from the assessee's action in opening 250 FDRs (supra ... follow the aforestated case law in these facts and direct the assessing authority to allow the assessee's claim of Rs.5 lacs as revenue expenditure." In Mangal Keshav Securities Ltd. (supra), the assessee was engaged in the business of share/stock broking. It paid a sum of fine/penalty to stock exchange

M/S Union Bank of India, Mumbai vs. Deputy Commissioner of Income Tax, Circle-(Ltu)-2, Mumbai

In the result, the appeal of the revenue is dismissed

ITA 2037/MUM/2024[2020-21]Status: DisposedITAT Mumbai11 Jun 2025AY 2020-21

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiyaआयकर अपील सं./Ita No. 2037/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2038/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Union Bank Of India, Finance & Accounts, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी V/S. बनाम Dcit, Circle- (Ltu) 2, Mumbai Room No. 421, 4Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 .. Respondent/प्रतिवादी आयकर अपील सं./Ita No. 2119/Mum/2024 (निर्धारण वर्ष / Assessment Year :2020-21) आयकर अपील सं./Ita No. 2118/Mum/2024 (निर्धारण वर्ष / Assessment Year :2021-22) Acit, Circle-3(4), Mumbai Room No. 559, 5Th Floor, Aayakar Bhavan, M. K. Road, Mumbai-400020 V/S. Union Bank Of India, बनाम | Finance & Accounts, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra- 400021 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacu0564G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Page 2

For Appellant: Shri C. NareshFor Respondent: Shri Vikas K. Suryawanshi
Section 144Section 14A

Regulation Act, 1947 alleging violation of KYC norms. Both the authorities below hold that a penalty imposed does not give rise to any corresponding revenue expenditure being penal in nature. 21. It has come on record that this penalty arises from the assessee's action in opening 250 FDRs (supra ... follow the aforestated case law in these facts and direct the assessing authority to allow the assessee's claim of Rs.5 lacs as revenue expenditure." In Mangal Keshav Securities Ltd. (supra), the assessee was engaged in the business of share/stock broking. It paid a sum of fine/penalty to stock exchange

The Assistant Commissioner of Income Tax, Circle-1, Eluru vs. The Andhra Sugars Limited, Tanuku

In the result, appeal of the Revenue is dismissed

ITA 380/VIZ/2019[2012-13]Status: DisposedITAT Visakhapatnam09 Jun 2025AY 2012-13

Bench: Shri Vijay Pal Rao, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No. 380/Viz/2019 (धनिाारणिर्ा/ Assessment Year: 2012-13) Assistant Commissioner Of Vs. M/S. Andhra Sugars Ltd., Income Tax, Circle-1, Tanuku. Eluru. Pan: Aaact6357Q (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) सी.ओ सं. / C.O. No. 140/Viz/2019 [आयक अपील सं. से उत्पन्न / Arising Out Of I.T.A. No. 380/Viz/2019(A.Y. 2012-13)] M/S. Andhra Sugars Ltd., Vs. Assistant Commissioner Of Tanuku. Income Tax, Circle-1, Pan: Aaact6357Q Eluru. अपीलार्थीकीओरसे/ Assessee By : Shri C. Subrahmanyam, Ca प्रत्यार्थीकीओरसे/ Revenue By : Dr.Satyasai Rath, Cit-Dr

For Appellant: Shri C. Subrahmanyam, CAFor Respondent: Dr.Satyasai Rath, CIT-DR
Section 143(2)Section 143(3)Section 14ASection 80I

erred in restricting the addition on account of disallowance of capital expenditure to Rs. 1.74 Crs treating the balance amount as revenue expenditure. 9. The Ld. CIT(A) ought to have upheld the entire addition (other than expenditure on Membrane Sheets) as the AO has discussed each and every item ... dismissed. 15. Grounds No. 8 & 9 relate to confirming the disallowance of capital expenditure amounting to Rs. 1.74 Crs and treating the balance as revenue expenditure by the Ld.CIT(A). The Ld. DR submitted that the Ld. AO has analyzed the expenditure in detail the expenditure incurred by the assessee