THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE DY COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE ADDL. COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is entirely misconceived, incorrect and has arbitrarily been made. 6. That the learned Commissioner of Income Tax (Appeals) has grossly erred in passing the impugned order against assessee - appellant without providing any fair and proper and meaningful opportunity of being heard, thereby violating the principles of natural justice and thus such an order of assessment is vitiated both

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME -TAX , CIRCLE -1,, JAMMU vs. THE JAMMU & KASHMIR BANK LTD.,, SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISIONER OF INCOME TAX , CIRCLE-1, JAMMU vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU, SRINAGAR vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

THE JAMMU AND KASHMIR BANK LIMITED,SRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU

In the result, the ground No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

SHRI NITIN AIMA,SHRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR

The appeal of the assessee is dismissed

66 DTR 69 [ITAT Mumbai]:\nThe issue in the case was as to whether DEEB was eligible for exemption u/s\n10BA. Sub-section (4) of section 10BA which provides for the method of\ncomputation of exemption is identical to sub-section (7) of section 10AA\nwhich is relevant to the present case. Section 10BA(4) reads as under