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1,592 results for “depreciation”+ Section 9(1)(i)clear

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Key Topics

Section 143(3)69Addition to Income58Section 14854Disallowance44Depreciation41Deduction38Section 14731Section 1128Section 133A27Section 36(1)(vii)

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

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

ITA 290/BANG/2025[2017-18]Status: DisposedITAT Bangalore30 Jan 2026AY 2017-18

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 250Section 254Section 37Section 90

1 2508,44,10,4 -17 9 80 79 45 34 2017 2508,44,10,4 - 2508,44,10,4 627,11,02,6 1881,33,07,8 -18 34 34 09 25 21.1 Thus, during the year under consideration, the assessee claimed depreciation on the WDV of the intangible assets for Rs. 627,11,02,609/- only. 22. During

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Section 43B22
Section 25021

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

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

ITA 292/BANG/2025[2019-20]Status: DisposedITAT Bangalore30 Jan 2026AY 2019-20

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 250Section 254Section 37Section 90

1 2508,44,10,4 -17 9 80 79 45 34 2017 2508,44,10,4 - 2508,44,10,4 627,11,02,6 1881,33,07,8 -18 34 34 09 25 21.1 Thus, during the year under consideration, the assessee claimed depreciation on the WDV of the intangible assets for Rs. 627,11,02,609/- only. 22. During

EDGEVERVE SYSTEMS LIMITED ,BANGALORE vs. ACIT, CIRCLE-2(2)(1), BANGALORE

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

ITA 293/BANG/2025[2020-21]Status: DisposedITAT Bangalore30 Jan 2026AY 2020-21

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Padamchand Kincha, CAFor Respondent: Shri Shivanad Kalakeri, CIT (DR)
Section 250Section 254Section 37Section 90

1 2508,44,10,4 -17 9 80 79 45 34 2017 2508,44,10,4 - 2508,44,10,4 627,11,02,6 1881,33,07,8 -18 34 34 09 25 21.1 Thus, during the year under consideration, the assessee claimed depreciation on the WDV of the intangible assets for Rs. 627,11,02,609/- only. 22. During

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), , BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 554/BANG/2018[2006-07]Status: DisposedITAT Bangalore11 Oct 2021AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

section 147 of the Income-tax Act.” 69. The Hon’ble Delhi High Court in Commissioner of Income-tax v. SPL'S Siddhartha Ltd. [2012] 345 ITR 223 (DELHI) held as under:- “8. Thus, if authority is given expressly by affirmative words upon a defined condition, the expression of that condition excludes the doing of the Act authorised under other

SUNITA MADHOK ,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1(2)(1), BANGALORE

In the result, the appeals by the assessee are partly allowed

ITA 555/BANG/2018[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H.N. Khincha, CAFor Respondent: Smt. H. Kabila, Addl.CIT(DR)(ITAT), Bengaluru
Section 234BSection 69

section 147 of the Income-tax Act.” 69. The Hon’ble Delhi High Court in Commissioner of Income-tax v. SPL'S Siddhartha Ltd. [2012] 345 ITR 223 (DELHI) held as under:- “8. Thus, if authority is given expressly by affirmative words upon a defined condition, the expression of that condition excludes the doing of the Act authorised under other

ADDL/JOINT COMMISSIONER OF INCOME TAX (LTU) , BANGALORE vs. M/S VIJAYA BANK , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 528/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

Section 9(1)(vii) of the Act. 10. For the aforesaid reasons, we hold that the view taken by the Bombay High Court that the transaction charges paid to the Bombay Stock Exchange by its members are for 'technical services' rendered is not an appropriate view. Such charges, really, are in the nature of payments made for facilities provided

M/S VIJAYA BANK ,BANGALORE vs. ADDITIONAL COMMISSIONER OF INCOME TAX LTU , BANGALORE

Accordingly the grounds raised by the revenue is allowed for statistical purposes

ITA 321/BANG/2019[2015-16]Status: DisposedITAT Bangalore25 Apr 2023AY 2015-16

Bench: Shri George George K. & Shri Laxmi Prasad Sahum/S. Bank Of Baroda Vs. Addl. Cit, Ltu, (Erstwhile Vijaya Bank) Bmtc Building 7Th Floor, Central Accounts 6Th Block, Koramangala Bengaluru 560095 Dept., 41/2, M.G. Road Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Acit, Circle - 2(1)(1) Vs. M/S. Bank Of Baroda Room No. 561, 5Th Floor (Erstwhile Vijaya Bank) Aayakar Bhavan 7Th Floor, Central Accounts M.K. Road Dept., 41/2, M.G. Road Mumbai 400020 Bengaluru 560001 Pan – Aaacvo3787 (Appellant) (Respondent) Assessee By: Shri Ananthan, Ca& Smt. Lalitha Rameswaran, Ca Revenue By: Shri G. Manoj Kumar, Cit-Dr Date Of Hearing: 29.03.2023 Date Of Pronouncement: 25.04.2023 M/S. Bank Of Baroda

For Appellant: Shri Ananthan, CA&For Respondent: Shri G. Manoj Kumar, CIT-DR
Section 115JSection 14ASection 194JSection 36Section 36(1)(vii)Section 36(1)(viia)Section 36(1)(viii)

Section 9(1)(vii) of the Act. 10. For the aforesaid reasons, we hold that the view taken by the Bombay High Court that the transaction charges paid to the Bombay Stock Exchange by its members are for 'technical services' rendered is not an appropriate view. Such charges, really, are in the nature of payments made for facilities provided

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-6(2)(1), BANGALORE vs. SRI C GANGADHARA MURTHY , BANGALORE

In the result, the appeal filed by the Revenue is allowed for statistical purpose

ITA 2400/BANG/2018[2012-13]Status: DisposedITAT Bangalore16 Aug 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Laxmi Prasad Sahuthe Dy. Commissioner Of Vs Shri C. Gangadhara Murthy Income-Tax, No. 322, 3Rd A Corss, 2Nd Block Circle - 6(2)(1) 3Rd Stage, Basaveshwaranagar Bangalore . Bangalore 560079. Pan – Agipg 2668 N (Appellant) (Respondent)

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Shri Sumer Singh Meena, CIT-DR
Section 142(1)Section 143(1)Section 143(2)Section 147Section 148Section 2

9 assessee was not filing regularly his return of income and a communication was issued to the assessee for filing return of income, thereafter the assessee filed manual return which was treated by the AO as incorrect return. On going through the order of the CIT(A), he has accepted the plea of the assessee that notice under Section

NEETA BHAMBHANI,BENGALURU vs. DCIT, (IT), CIRCLE-1(1), BENGALURU

In the result, I pass the following:-

ITA 3124/BANG/2025[2017-18]Status: DisposedITAT Bangalore12 Feb 2026AY 2017-18

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Adv. Ema Bindu, A.RFor Respondent: Dr. Divya K.J., CIT D.R
Section 10(4)(ii)Section 143(3)Section 148Section 148ASection 151Section 69

9. Further, under the similar facts & circumstance & for similar AY 2017-18, the Hon’ble Jurisdictional High Court of Karnataka in the case of Tarish Investment and Trading Company (P) Ltd v. Union of India reported in [2025] 179 taxmann.com 198 (Karnataka) has held as under- “2. The petitioner in the subject petition calls in question an order passed

THE KARNATAKA BANK LTD,MANGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(1), MANGALURU

In the result, the appeal filed by the Revenue is dismissed and the appeal of the assessee is partly allowed

ITA 1907/BANG/2018[2014-15]Status: DisposedITAT Bangalore26 May 2022AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranthe Karnataka Bank Ltd. Dcit, Circle - 2(1) Head Office, Mahaveera Circle Mangalore Vs. Kankanady Mangalore 575002 Pan – Aabct5589K Appellant Respondent Dcit, Circle – 2(1) The Karnataka Bank Ltd. Mangalore Head Office, Mahaveera Circle Vs. Kankanady Mangalore 575002 Pan – Aabct5589K Appellant Respondent Assessee By: Shri S. Ananthan, Ca & Smt. Lalitha Rameswaran, Ca Revenue By: Shri Mudavathu Harish Chandra Naik, Ca Date Of Hearing: 22.03.2022 Date Of Pronouncement: 26.05.2022 O R D E R Per: B.R. Baskaran, A.M. These Cross Appeals Are Directed Against The Order Dated 27-03-2018 Passed By Ld Cit(A), Mangaluru & They Relate To The Assessment Year 2014-15. 2. The Assessee Is A Banking Company Carrying On Banking Business. The Karnataka Bank Ltd.

For Appellant: Shri S. Ananthan, CA &For Respondent: Shri Mudavathu Harish
Section 14A

1)(viia) 4. The first issue relates to the disallowance of depreciation claimed on Investments held to Maturity. The AO noticed that the assessee has revalued the investments held to maturity as at the yearend and the fall in the value was claimed as depreciation in their value amounting to Rs.436.81 crores as deduction. The AO noticed that

ARUN DURAISWAMY,MYSORE, KARNATAKA vs. ITO, INTL. TAXATION WARD 1(1), BANGALORE

In the result the appeal filed by the assessee is allowed

ITA 193/BANG/2025[2015-16]Status: DisposedITAT Bangalore16 Feb 2026AY 2015-16

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

For Appellant: CA Deepak Gunashekar, A.RFor Respondent: Dr. Divya K.J, CIT D.R
Section 139Section 147Section 148Section 148ASection 149Section 69Section 69C

9 of 23 Thus, the core issue revolves around whether the issuance of the notice under section 148 of the Act on April 29, 2022, for AY 2015- 16, falls within the permissible time limits or not? 7.1 Before proceeding further, it is apposite here to mention the relevant provisions of the Act as it stood then which

M/S. TELEFONICA DE ESPANA SA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, (INTERNATIONAL TAXATION), CIRCLE- 2(2), BANGALORE

In the result, all the three appeals filed by the assessee stands partly allowed as indicated hereinabove

ITA 2657/BANG/2019[2010-11]Status: DisposedITAT Bangalore10 Aug 2023AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A Nos. 2657/Bang/2019, 180/Bang/2021 & 817/Bang/2022 Assessment Years : 2010-11 To 2012-13 M/S. Telefonica Depreciation Espana Sa, C/O. Bsr & Co.Llp, 3Rd Floor, Pebble The Acit(It)/Dcit(It), Beach, Circle – 2(2), Embassy Golf Links Bangalore. Business Park, Vs. Off Intermediate Ring Road, Bangalore – 560 071. Pan: Aahct0411G Appellant Respondent Assessee By : Shri Sharath Rao, Ca Revenue By : Shri D.K. Mishra, Cit Dr

For Appellant: Shri Sharath Rao, CAFor Respondent: Shri D.K. Mishra, CIT DR
Section 147Section 148Section 201Section 234ASection 9(1)(vi)

Depreciation Espana SA, C/o. BSR & Co.LLP, 3rd Floor, Pebble The ACIT(IT)/DCIT(IT), Beach, Circle – 2(2), Embassy Golf Links Bangalore. Business Park, Vs. Off Intermediate Ring Road, Bangalore – 560 071. PAN: AAHCT0411G APPELLANT RESPONDENT Assessee by : Shri Sharath Rao, CA Revenue by : Shri D.K. Mishra, CIT DR Date of Hearing : 25-07-2023 Date of Pronouncement

TELEFONICA DE ESPANA SA,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION), CIRCLE-2(2), BANGALORE

In the result, all the three appeals filed by the assessee stands partly allowed as indicated hereinabove

ITA 180/BANG/2021[2011-12]Status: DisposedITAT Bangalore10 Aug 2023AY 2011-12

Bench: Shri Chandra Poojari & Smt. Beena Pillaiit(It)A Nos. 2657/Bang/2019, 180/Bang/2021 & 817/Bang/2022 Assessment Years : 2010-11 To 2012-13 M/S. Telefonica Depreciation Espana Sa, C/O. Bsr & Co.Llp, 3Rd Floor, Pebble The Acit(It)/Dcit(It), Beach, Circle – 2(2), Embassy Golf Links Bangalore. Business Park, Vs. Off Intermediate Ring Road, Bangalore – 560 071. Pan: Aahct0411G Appellant Respondent Assessee By : Shri Sharath Rao, Ca Revenue By : Shri D.K. Mishra, Cit Dr

For Appellant: Shri Sharath Rao, CAFor Respondent: Shri D.K. Mishra, CIT DR
Section 147Section 148Section 201Section 234ASection 9(1)(vi)

Depreciation Espana SA, C/o. BSR & Co.LLP, 3rd Floor, Pebble The ACIT(IT)/DCIT(IT), Beach, Circle – 2(2), Embassy Golf Links Bangalore. Business Park, Vs. Off Intermediate Ring Road, Bangalore – 560 071. PAN: AAHCT0411G APPELLANT RESPONDENT Assessee by : Shri Sharath Rao, CA Revenue by : Shri D.K. Mishra, CIT DR Date of Hearing : 25-07-2023 Date of Pronouncement

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

ITA 295/BANG/2023[2019-20]Status: DisposedITAT Bangalore01 Jun 2023AY 2019-20

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Sandeep Chalapathy, A.RFor Respondent: Shri Sankar Ganesh K., D.R
Section 139(1)Section 143(1)(a)Section 250Section 36(1)(va)Section 43BSection 44A

9. In the result, the appeal of the assessee is dismissed.” 8. We have heard the rival submissions and perused the materials available on record. The main contention of the ld. A.R. is that the AO cannot disallow employees contribution of ESI & PF in these assessment years u/s 36(1)(va) r.w.s. 143(1) of the Act as these amounts

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

ITA 294/BANG/2023[2018-19]Status: DisposedITAT Bangalore01 Jun 2023AY 2018-19

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Sandeep Chalapathy, A.RFor Respondent: Shri Sankar Ganesh K., D.R
Section 139(1)Section 143(1)(a)Section 250Section 36(1)(va)Section 43BSection 44A

9. In the result, the appeal of the assessee is dismissed.” 8. We have heard the rival submissions and perused the materials available on record. The main contention of the ld. A.R. is that the AO cannot disallow employees contribution of ESI & PF in these assessment years u/s 36(1)(va) r.w.s. 143(1) of the Act as these amounts

M/S. NANDI HOSPITALITY SERVICES PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-3(1)(1), BANGALORE

In the result, all the three appeals filed by the assessee are dismissed

ITA 296/BANG/2023[2020-21]Status: DisposedITAT Bangalore01 Jun 2023AY 2020-21

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri Sandeep Chalapathy, A.RFor Respondent: Shri Sankar Ganesh K., D.R
Section 139(1)Section 143(1)(a)Section 250Section 36(1)(va)Section 43BSection 44A

9. In the result, the appeal of the assessee is dismissed.” 8. We have heard the rival submissions and perused the materials available on record. The main contention of the ld. A.R. is that the AO cannot disallow employees contribution of ESI & PF in these assessment years u/s 36(1)(va) r.w.s. 143(1) of the Act as these amounts

SRI PANATI VIDYANATH REDDY ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

ITA 1148/BANG/2022[2019-20]Status: DisposedITAT Bangalore18 Jan 2023AY 2019-20

Bench: Shri Chandra Poojarishri Panati Vidyanath Reddy Vs Acit, Circle - 4(3)(1) 10, 32Nd Main, 5Th Cross Bengaluru Dollars Colony, Btm Layout 1St Stage, Bengaluru 560068 Pan – Afmpr3580F (Appellant) (Respondent) M/S. Nirmal Enviro Solutsions P. Ltd. Vs Acit, Circle - 3(1)(1) 26, 9Th Cross, 16Th Main Bengaluru Btm Layout, 1St Stage Bengaluru 560068 Pan – Aadcn1064H (Appellant) (Respondent) Assessee By: Miss Sunaiana Bhatia, Ca Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 18.01.2023 Date Of Pronouncement: 18.01.2023 O R D E R Per: Chandra Poojari, A.M.

For Appellant: Miss Sunaiana Bhatia, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 139(1)Section 143Section 143(1)Section 234ASection 36Section 36(1)(va)

9. In the result, the appeal of the assessee is dismissed.” 5. I heard the rival submissions an perused the materials available on record. The main contention of ld. AR is that the AO precluded from making any additions or disallowance u/s 143(1) of the Act other than the amount disclosed by assessee in audit report filed u/s 44AB

M/S. NIRMAL ENVIRO SOLUTIONS PRIVATE LIMITED,BENGALURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

ITA 1154/BANG/2022[2019-20]Status: DisposedITAT Bangalore18 Jan 2023AY 2019-20

Bench: Shri Chandra Poojarishri Panati Vidyanath Reddy Vs Acit, Circle - 4(3)(1) 10, 32Nd Main, 5Th Cross Bengaluru Dollars Colony, Btm Layout 1St Stage, Bengaluru 560068 Pan – Afmpr3580F (Appellant) (Respondent) M/S. Nirmal Enviro Solutsions P. Ltd. Vs Acit, Circle - 3(1)(1) 26, 9Th Cross, 16Th Main Bengaluru Btm Layout, 1St Stage Bengaluru 560068 Pan – Aadcn1064H (Appellant) (Respondent) Assessee By: Miss Sunaiana Bhatia, Ca Revenue By: Shri Ganesh R. Ghale, Standing Counsel Date Of Hearing: 18.01.2023 Date Of Pronouncement: 18.01.2023 O R D E R Per: Chandra Poojari, A.M.

For Appellant: Miss Sunaiana Bhatia, CAFor Respondent: Shri Ganesh R. Ghale, Standing Counsel
Section 139(1)Section 143Section 143(1)Section 234ASection 36Section 36(1)(va)

9. In the result, the appeal of the assessee is dismissed.” 5. I heard the rival submissions an perused the materials available on record. The main contention of ld. AR is that the AO precluded from making any additions or disallowance u/s 143(1) of the Act other than the amount disclosed by assessee in audit report filed u/s 44AB

GLOBAL SECURITY SERVICES ,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1) , BANGALORE

In the result, the appeal of the assessee is dismissed

ITA 150/BANG/2024[2018-19]Status: DisposedITAT Bangalore28 Jun 2024AY 2018-19

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubeyassessment Year : 2018-19

For Appellant: Shri Akshaya K.S., CAFor Respondent: Shri Subramanian S., Jt.CIT(DR)(ITAT), Bengaluru
Section 143(1)(a)Section 36(1)(va)

9. Section 36 is a deduction provision under the Act. A reading of section 36(1)(va) makes it clear that in respect of any sum received by an assessee from his employees, to which section 2(24)(x) applies, the assessee can get deduction only if such sum is credited to the employees' accounts in the relevant fund

ITEK PACKZ,BANGALORE vs. INCOME TAX OFFICER, WARD-3(2)(4), BANGALORE

In the result, both the appeals filed by different assessees are partly allowed for statistical purposes

ITA 995/BANG/2022[2020-21]Status: DisposedITAT Bangalore28 Dec 2022AY 2020-21

Bench: Shri Chandra Poojariassessment Year: 2020-21

For Appellant: Shri S.V. Ravishankar, A.RFor Respondent: Shri Ganesh R. Gale, Standing Counsel for Department
Section 139(1)Section 143(1)Section 244ASection 250Section 36(1)(va)

1) of the Act and accordingly, no disallowance was warranted on the facts and circumstances of the case. 7. The amount of interest computed under section 244A of the Act on the refund due is liable to be recomputed after deleting the disallowance amounting to Rs. 13,48,407/- on the facts and circumstances of the case. 8. The appellant