INCOME TAX OFFICER WARD-1(1)(2), BANGALORE vs. M/S ATRIA HYDEL POWER LIMITED , BANGALORE

In the result, ITA Nos.534 to 556/Bang/2018 and CO Nos

Bench: Shri N. V. Vasudevan & Shri Jason P. Boazassessment Years : 2010-11 Income-Tax Officer, Vs. M/S. Atria Hydel Power Ltd., Ward - 1(1)(2), #1, Palace Road, Bengaluru. Bangalore-560 001. Pan : Aacca 3754 E Appellant Respondent

211(2) of the Companies Act. The final accounts of the banking companies are required to be prepared in accordance with the provisions of the Banking Regulation Act. The ITA provisions of Section 115JB cannot thus be applied to the case of banking company". The Hon'ble Kerala High Court in its recent decision in the case of Kerala State

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

In the result, appeal of the revenue in ITA No

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessmentyear: 2017-18

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss ITA Nos.1154/Bang/2023 & ITA 210, 222 & 297/Bang/2024 M/s. Canara Bank., Bangalore Page 17 of 40 account for the relevant previous year in accordance with the provisions of the Act governing such company:] Provided that while

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

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:] Provided that while preparing the annual accounts including profit and loss account,- (i) the accounting policies

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

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:] Provided that while preparing the annual accounts including profit and loss account,- (i) the accounting policies

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

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:] Provided that while preparing the annual accounts including profit and loss account,- (i) the accounting policies

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

2) of\nsection 211 of the Companies Act, 1956 (1 of 1956) is applicable,\nshall, for the purposes of this section, prepare its profit and loss\naccount for the relevant previous year in accordance with the\nprovisions of the Act governing such company:]\nProvided that while preparing the annual accounts including profit\nand loss account,-\n(i) the accounting policies

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

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

2) of section\n211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the\npurposes of this section, prepare its profit and loss account for the\nrelevant previous year in accordance with the provisions of the Act\ngoverning such company:]\nProvided that while preparing the annual accounts including profit and\nloss account,-\n(i)\nthe accounting policies

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.

2) of\nsection 211 of the Companies Act, 1956 (1 of 1956) is applicable,\nshall, for the purposes of this section, prepare its profit and loss\naccount for the relevant previous year in accordance with the\nprovisions of the Act governing such company:]\nProvided that while preparing the annual accounts including profit\nand loss account,- (i) the accounting policies

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

In the result, appeal filed by the Revenue is dismissed

2) of\nsection 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall,\nfor the purposes of this section, prepare its profit and loss account for\nthe relevant previous year in accordance with the provisions of the Act\ngoverning such company:]\nProvided that while preparing the annual accounts including profit and\nloss account,- (i) the accounting policies

M/S SYNDICATE BANK,MANIPAL vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, UDUPI

In the result, appeal of the revenue in ITA No

Bench: Shri Chandra Poojari & Shri Keshav Dubeyassessment Year: 2015-16

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:] Provided that while preparing the annual accounts including profit and loss account,- (i) the accounting policies

M/S UDBHAV CONSTRUCTIONS,UDUPI vs. DCIT, UDUPI

In the result, while disallowance of Rs

Bench: Shri. Abraham P. George & Shri. Vijay Pal Raoi.T.A No.828/Bang/2014 (Assessment Year : 2009-10) M/S. Udbhav Constructions, 3Rd Floor, Maithri Complex, Udupi – 576 101 .. Appellant Pan : Aabfu3330N V. Deputy Commissioner Of Income-Tax, Circle -1, Udupi .. Respondent Assessee By : Shri. S. Ramasubramanian, Ca Revenue By : Shri. Sunil Kumar Agarwala, Jcit Heard On : 09.03.2016 Pronounced On : 30.03.2016 O R D E R Per Abraham P. George:

211, 234A, 234B, 234C, 271 and 273 or otherwise), general or special orders in respect of any class of incomes @or fringe benefits or class of cases, setting ITA.828/Bang/2014 Page - 8 forth directions or instructions (not being prejudicial to assessee) as to the guidelines, principles or procedures to be followed by other income-tax authorities in the work relating

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

2) of section\n211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the\npurposes of this section, prepare its profit and loss account for the\nrelevant previous year in accordance with the provisions of the Act\ngoverning such company:]\nProvided that while preparing the annual accounts including profit and\nloss account,-\n(i) the accounting policies

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

2) of section\n211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the\npurposes of this section, prepare its profit and loss account for the\nrelevant previous year in accordance with the provisions of the Act\ngoverning such company:]\nProvided that while preparing the annual accounts including profit and\nloss account,-\n(i)\nthe accounting policies

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

In the result, appeal of the revenue is partly allowed for statistical purposes

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessmentyear:2014-15

2) of section 211 of the Companies Act, 1956 (1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:] Canara Bank, Bangalore Page 15 of 17 Provided that while preparing the annual accounts including profit

M/S. CANARA BANK (ERSTWHILE SYNDICATE BANK),BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

depreciation as have been adopted for the purpose of preparing a Profit & Loss Account and laid down at its Annual General Meeting in accordance with the provisions of Section 210 of the Companies Act, 1956. In this case, the Bank does not prepare any Profit & Loss Account which is laid down as per the provisions of Section

M/S. CANARA BANK (ERSTWHILE SYNDICATE BANK),BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1)(1), BANGALORE

Bench: Shri George George K. & Shri Laxmi Prasad Sahu

depreciation as have been adopted for the purpose of preparing a Profit & Loss Account and laid down at its Annual General Meeting in accordance with the provisions of Section 210 of the Companies Act, 1956. In this case, the Bank does not prepare any Profit & Loss Account which is laid down as per the provisions of Section

JOINT COMMISIONER OF INCOME TAX (LTU) , BANGALORE vs. M/S TEXAS INSTRUMENTS INDIA PVT LTD , BANGALORE

In the result, the appeal by the revenue is dismissed and the appeal by the assessee is partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

depreciation on the amount @ 60%. [Addition Rs. 54,21,00,637/-]” 29. On appeal by the Assessee, the CIT(A) deleted the addition made by the AO holding that the Assessee acquired on purchase by the Assessee and as per the Agreement with the owner of the software the Assessee had only a right to use the software and that

TEXAS INSTRUMENTS (INDIA) PRIVATE LIMITED ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX LTU , BANGALORE

In the result, the appeal by the revenue is dismissed and the appeal by the assessee is partly allowed

Bench: Shri N. V. Vasudevan & Ms. Padmavathy S

depreciation on the amount @ 60%. [Addition Rs. 54,21,00,637/-]” 29. On appeal by the Assessee, the CIT(A) deleted the addition made by the AO holding that the Assessee acquired on purchase by the Assessee and as per the Agreement with the owner of the software the Assessee had only a right to use the software and that