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

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

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

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

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.

depreciation only for income tax purposes, both the assessee and the assessing officer shall ensure that the profit/loss arising on sale of these investments should be ascertained by considering the value of investments as per income tax records and not as per books of account. 5. The next issue contested by the revenue relates to the disallowance made

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

vii)(a) being the amount eligible as calculated under the section. The assessee had calculated the deduction based on the Aggregate Average Rural Advances (AAA) computed as per Rule 6ABA of Income Tax Rules, 1962. During the assessment proceedings the learned Assessing Officer relied on the decision of Hon'ble Supreme Court in the case of Catholic Syrian Bank

JCIT, BANGALORE vs. M/S VIJAYA BANK, BANGALORE

In the result the appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2008-09

9,87,94,655 Total 33,01,44,793 23,40,93,115 50,88,11,046 ITA Nos. 578 & 653/Bang/2012 Page 18 of 49 19. According to the AO, section 36(1)(vii) of the Income-tax Act, 1961 (the Act) allows deduction in computing the income referred to in Section 28 subject to the provisions of sub-section

VIJAYA BANK,BANGALORE vs. ADDL.C.I.T., BANGALORE

In the result the appeal by the Assessee is allowed

Bench: Shri N.V. Vasudevan & Shri Jason P. Boazassessment Year : 2008-09

9,87,94,655 Total 33,01,44,793 23,40,93,115 50,88,11,046 ITA Nos. 578 & 653/Bang/2012 Page 18 of 49 19. According to the AO, section 36(1)(vii) of the Income-tax Act, 1961 (the Act) allows deduction in computing the income referred to in Section 28 subject to the provisions of sub-section

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

In the result, the appeals are partly allowed for statistical purposes

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

depreciation was reduced to the extent of Rs.50,25,197. Assessment was completed u/s. 143(3) r.w.s. 147 of the Act on 31.12.2018 determining total income at Rs.1502,69,05,350 under regular provisions and at Rs.1848,74,25,220 under MAT provisions after making certain disallowances. 6. The first common issue that arises for consideration

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

In the result, the appeals are partly allowed for statistical purposes

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

depreciation was reduced to the extent of Rs.50,25,197. Assessment was completed u/s. 143(3) r.w.s. 147 of the Act on 31.12.2018 determining total income at Rs.1502,69,05,350 under regular provisions and at Rs.1848,74,25,220 under MAT provisions after making certain disallowances. 6. The first common issue that arises for consideration

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

In the result, the appeals are partly allowed for statistical purposes

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

depreciation was reduced to the extent of Rs.50,25,197. Assessment was completed u/s. 143(3) r.w.s. 147 of the Act on 31.12.2018 determining total income at Rs.1502,69,05,350 under regular provisions and at Rs.1848,74,25,220 under MAT provisions after making certain disallowances. 6. The first common issue that arises for consideration

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

depreciation which have been adopted for preparing such accounts including statement of profit and loss for such financial year or part of such financial year falling within the relevant previous year. 41. In so far as Clause (a), the same applies to a case of a company other than referred to in Clause (b). According to clause

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

In the result, grounds 6 and 9 are allowed for statistical purposes

Bench: Shri George George K, Jm & Ms.Padmavathy S, Jm

vii) 1008,00,06,232 6. The CIT(A) in relation to applicability of provisions of section 115JB of the Act, did not allow ground that section M/s.Canara Bank (Erstwhile Syndicate Bank) 115JB is not applicable to the assessee. The first appellate authority allowed the appeal of the assessee-bank in respect of additions made to the book profit

M/S HONEYWELL TECHNOLOGY SOLUTIONS LAB PRIVATE LIMITED ,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX SPECIAL RANGE-3 , BANGALORE

Bench: Shri Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2013-14

vii) of the Act and the applicable Double Taxation Avoidance Agreement ['Tax Treaty"]. 10. The learned CIT(A) has erred, in law and facts, in not considering that the employees have not made available their service to the Appellant and accordingly the payment is not in the nature of 'fees for technical service' under Article 12 of the applicable

M/S. CORPORATION BANK,MANGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 2(1), MANGALURU

Bench: Shri George George K & Ms. Padmavathy S & Ita No.1680/Bang/2018 Assessment Year : 2015-16 & 2014-15

9 of 44 relating to non-rural advances u/s 36(1)(vii) was denied is, assessee having already availed deduction u/s 36(1)(viia), it is not eligible to claim deduction u/s 36(1)(vii) as it will amount to double deduction. In our view, both AO as well as ld. CIT(A) have committed fundamental error by mixing

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

In the result, revenue’s appeal in ITA No

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

depreciation which have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year. " 56. Thus, the understanding of the above amendment to section 115JB is where a company which are not required u/s 211 (129) of the Companies Act to prepare their

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

In the result, revenue’s appeal in ITA No

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

depreciation which have been adopted for preparing such accounts including profit and loss account for such financial year or part of such financial year falling within the relevant previous year. " 56. Thus, the understanding of the above amendment to section 115JB is where a company which are not required u/s 211 (129) of the Companies Act to prepare their

M/S HONEYWELL TECHNOLOGY SOLUTIONS LAB PRIVATE LIMITED ,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX SPECIAL RANGE-3 , BANGALORE

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranm/S Honeywell Technolgoy Solutions Jt. Cit, Special Range 3 Pvt. Ltd. 2Nd Floor, Bmtc Building Survey No. 96 & 97, Boganahalli 6Th Block, Koramangala Village & Survey No. 72/2 & 72/5 Vs. Bengaluru 560095 Doddakananahalli Village Varthur Hobli, Bengaluru East Taluk, Bengaluru 560103 Pan – Aaach4151J Appellant Respondent Appellant By: Smt. Shreya Loyalaka, Advocate Respondent By: Shri Sumer Singh Meena, Cit-Dr Date Of Hearing: 30.03.2022 Date Of Pronouncement: 30.05.2022

depreciation @ 60% /30% depending upon the period of usage in this year. In respect of the amount of Rs.19.85 crores, the Ld CIT(A) directed the AO to examine the claim afresh and in this regard, he gave various directions to the AO. 5.4 We heard the parties and perused the record. The ld A.R submitted that the decision

M/S HONEYWELL TECHNOLOGY SOLUTIONS LAB PRIVATE LIMITED ,BANGALORE vs. JOINT COMMISSIONER OF INCOME TAX SPECIAL RANGE-3 , BANGALORE

Bench: Shri N.V. Vasudevan & Shri Laxmi Prasad Sahuassessment Year : 2012-13

depreciation on capitali- zed expenses – Rs.6,51,10,329/- Disallowance of software expenses u/s 40a/40a(ia) - Rs.11,28,69,584/- Disallowance of legal professional fees paid to the partnership firms outside India – Rs.46,05,273/- Disallowance of deduction u/s 80JJAA – Rs.23,20,36,444/- 7. Accordingly, he computed taxable income of Rs.260,94,26,098/- and completed the assessment accordingly

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

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

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. 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

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

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

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

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)

9. According to ld. AR, neither Explanation 2(a) nor Explanation 2(b) is applicable. Explanation 2(c) is also not applicable because section 147/148 relates to income escaping assessment and escaping assessment can only be considered once the power of making assessment under the statute is not available to the Assessing Officer. Therefore, till the time when period