ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE vs. CANARA BANK (ERSTWHILE SYNDICATE BANK), BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

capital gain tax can be levied. " 53. Concluded at page 12 para 21 as under: . ITA No.1495 - 1499/Bang/2025 Page 4 of 15 "27. In the result, we hold that sub-section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company. We answer the question

CANARA BANK (ERSTWHILE SYNDICATE BANK),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

In the result, appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

capital gain tax can be levied. " 53. Concluded at page 12 para 21 as under: "27. In the result, we hold that sub-section 115JB as it stood prior to its amendment by virtue of Finance Act, 2012, would not be applicable to a banking company. We answer the question No. 2 in favour of the assessee and against

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE vs. CANARA BANK (ERSTWHILE SYNDICATE BANK), BANGALORE

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

capital gain tax can be\nlevied. \" 53. Concluded at page 12 para 21 as under:\n\n\"27. In the result, we hold that sub-section 115JB as it stood prior to its\namendment by virtue of Finance Act, 2012, would not be applicable to a\nbanking company. We answer the question No. 2 in favour of the\nassessee

ACIT, CIRCLE-2(2)(1), BANGALORE vs. CANARA BANK, BENGALURU

In the result, appeal filed by the Revenue is dismissed

capital gain tax can be levied. \" 53. Concluded at page 12\npara 21 as under:\n\"27. In the result, we hold that sub-section 115JB as it stood prior to its\namendment by virtue of Finance Act, 2012, would not be applicable to\na banking company. We answer the question No. 2 in favour of the\nassessee and against

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2(2)(1), BANGALORE vs. CANARA BANK (ERSTWHILE SYNDICATE BANK), BANGALORE

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

capital gain tax can be\nlevied. \" 53. Concluded at page 12 para 21 as under:\n\"27. In the result, we hold that sub-section 115JB as it stood prior to its\namendment by virtue of Finance Act, 2012, would not be applicable to a\nbanking company. We answer the question No. 2 in favour of the\nassessee and against

ASSISTANT COMMISSIONER OF INCOME TAX, BANGALORE vs. CANARA BANK (ERSTWHILE SYNDICATE BANK), BANGALORE

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

capital gain tax can be\nlevied. \" 53. Concluded at page 12 para 21 as under:\n\n\"27. In the result, we hold that sub-section 115JB as it stood prior to its\namendment by virtue of Finance Act, 2012, would not be applicable to a\nbanking company. We answer the question No. 2 in favour of the\nassessee

M/S. BANK OF BARODA(ERSTWHILE VIJAYA BANK),MUMBAI vs. ADDL.CIT, LTU, , BANGALORE

In the result, appeal filed by the assessee is allowed

Bench: Shri Laxmi Prasad Sahu\Nand\Nshri Keshav Dubey\Nita No.234/Bang/2025\N Assessment Year: 2015-16\Nm/S. Bank Of Baroda (Erstwhile\Nvijaya Bank)\N2Nd Floor, Baroda Corporate Centre\Nbandra Kurla Complex\Nbandra (East)\Nmumbai 400 051\Npan No: Aaacv4791J\Nappellant\Nvs.\Naddl. Cit\Nltu\Nbangalore\Nrespondent\Nappellant By\N:\Nsmt. Lalitha Rameshwaran, A.R.\Nrespondent By\N:\Nsri Rajashekhar M., D.R.\Ndate Of Hearing\N:\N03.04.2025\Ndate Of Pronouncement\N:\N04.04.2025\No R D E R\Nper Keshav Dubey:\Nthis Appeal At The Instance Of The Assessee Is Directed Against\Nthe Order Of 1D. Cit(A)/Nfac Dated 23.12.2024 Vide Din & Order\Nno. Itba/Nfac/S/250/2024-25/1071453089(1) Passed U/S 250 Of\Nthe Act (In Short “The Act”) For The Ay 2015-16.\N2. The Assessee Has Raised The Following Grounds Of Appeal:\N1. The Order Of The Learned Cit(A) Is Against The Law & Facts Of The Case.\N2. The Order Passed By The Learned Cit(A) Is Against The Principles Of Natural Justice.\N2.

capital gain tax can be levied. \" 53. Concluded at page 12\npara 21 as under:\n\"27. In the result, we hold that sub-section 115JB as it stood prior to\nits amendment by virtue of Finance Act, 2012, would not be applicable\nto a banking company. We answer the question No. 2 in favour of the\nassessee and against

CANARA BANK (ERSTWHILE SYNDICATE BANK),BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE, BENGALURU

In the result, appeals of the assessee are partly allowed

capital gain tax can be levied. \" 53. Concluded at page 12\npara 21 as under:\n\"27. In the result, we hold that sub-section 115JB as it stood prior to\nits amendment by virtue of Finance Act, 2012, would not be applicable\nto a banking company. We answer the question No. 2 in favour of the\nassessee and against

INCOME TAX OFFICER, WARD 1, UDUPI, UUPI vs. KAMBADAKONE RYTARA SEVA SAHAKARI SANGHA LTD, UDUPI

194A(3)(v) has been so amended, section\n80P(2)(d) has not been amended to include co-operative\nbanks explicitly.\n6.\nThe CIT(A) erred in non appreciating/neglecting the fact that\nthe character or nature of interest income received on the\ninvestment or deposits from a scheduled bank or co-\noperative banks is the same

INCOME TAX OFFICER, WARD-1, UDUPI vs. KAMBADAKONE RYTARA SEVA SAHAKARI SANGHA LTD, UPPUNDA

194A(3)(v) has been so amended, section\n80P(2)(d) has not been amended to include co-operative\nbanks explicitly.\n6.\nThe CIT(A) erred in non appreciating/neglecting the fact that\nthe character or nature of interest income received on the\ninvestment or deposits from a scheduled bank or co-\noperative banks is the same

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1)(1), BANGALORE vs. VIJAYA BANK, BARODA CORPORATE CENTRE BANDRA KURLA COMPLEX

In the result, the appeal filed by the learned assessing officer is allowed for statistical purposes

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year : 2010-11

194A of the act , the tax should have been deducted by the assessee bank at the time of making payment to political parties. Even otherwise the income of political party is exempt under section 13 A of the act is also subject to the condition that such income should be chargeable to tax under the head income from house property

BHARATH HI-TECH BUILDERS PVT. LTD.,BANGALORE vs. ACIT, CIRCLE-1(1)(2), BANGALORE, BANGALORE

In the result, appeal of the assessee is allowed

194A) -\nJournal\n2625\n5,326.00\nTDS DEDUCTED\nDr Interest on Loan\nJournal\n2630\n53,260.00\nBeing interest amount payable @ 18% for\nRs 20 Lakhs from Oct 1st to Dec 15th in full\nand final\n22,65,314.00 22,65,314.00\n\nVisweshwara S\n16) The credit of this creditor is a sum of Rs. 30,00,000/-\ncredited

INCOME-TAX OFFICER, WARD-1, UDUPI, UDUPI vs. BRAHMAVARA VYAVAYASAYA SEVA, BRAHMAVARA

In the result, the appeals filed by Revenue are allowed and the COs\nfiled by the assessee are allowed for statistical purposes

gains of\nbusiness attributable to the activity of carrying on the business of banking\nor providing credit facilities to its members by a co-operative society and is\nliable to be deducted from the gross total income under Section 80P of the\nAct. The Hon'ble Karnataka High Court also distinguished the decision of\nthe Hon'ble Supreme Court

M/S. THE BHAVASARA KSHATRIYA CO-OPERATIVE SOCIETY LIMITED,MYSURU vs. INCOME TAX OFFICER, WARD-2(1), MYSURU

capital, if not immediately required\nto be lent to the members, they cannot keep the said amount idle. If they\ndeposit this amount in bank so as to earn interest, the said interest income\nis attributable to the profits and gains of the business of providing credit\nfacilities to its members only. The society is not carrying on any separate

REHANA PARVEEN,MANGALORE vs. INCOME TAX OFFICER, WARD 6(3)(1), BANGALORE

In the result, appeal of the assesseeis allowed

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan Kassessment Year : 2015-16

194A) amounting to Rs. 1,534/-. 3. From the records, it was noticed that the assessee did not file its original return of income and the assessee has sufficient transaction s in her bank accounts. Therefore, a notice under section 148 of the Act was issued to the assessee on 31.03.2022. In response to the notice, assessee filed reply

SANGAM CO-OP CREDIT SOCIETY,BAGALKOT vs. INCOME-TAX OFFICER WARD-2 , BAGALKOT

In the result, both the appeals by the assessee are partly allowed for statistical purposes

capital, if not immediately required to be lent to the members, they cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying on any separate

SANGAM CO-OP CREDIT SOCIETY,BAGALKOT vs. INCOME-TAX OFFICER WARD 1& TPS, BAGALKOT

In the result, both the appeals by the assessee are partly allowed for statistical purposes

capital, if not immediately required to be lent to the members, they cannot keep the said amount idle. If they deposit this amount in bank so as to earn interest, the said interest income is attributable to the profits and gains of the business of providing credit facilities to its members only. The society is not carrying on any separate

INCOMETAX OFFICER, WARD 1, UDUPI, UDUPI vs. BRAHMAVARA VYAVASAYA SEVA, BRAHMAVARA

In the result, the appeals filed by Revenue are allowed and the COs\nfiled by the assessee are allowed for statistical purposes

gains of\nbusiness attributable to the activity of carrying on the business of banking\nor providing credit facilities to its members by a co-operative society and is\nliable to be deducted from the gross total income under Section 80P of the\nPage 7 of 22\nITA Nos.656, 667, 668/Bang/2024\nC.O. Nos. 10, 11, 12/Bang/2024\nAct. The Hon'ble Karnataka