THE LIC EMPLOYEES CO-OPERATIVE BANK LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals filed by the assessee are stands allowed

Bench: Shri George Mathan & Shri S. Jayaraman

TDS on the interest paid on the deposits by Co-operative societies involved in banking business. 5. We have considered the rival submissions. As it is noticed that the issues in the appeals are squarely covered by the decision of the Hon’ble Jurisdictional High Court (Madras) in the case of M/s.Coimbatore Central ITA Nos.823 to 826/Mds/2017 :- 3 -: Co-operative

THE LIC EMPLOYEES CO-OPERATIVE BANK LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals filed by the assessee are stands allowed

Bench: Shri George Mathan & Shri S. Jayaraman

TDS on the interest paid on the deposits by Co-operative societies involved in banking business. 5. We have considered the rival submissions. As it is noticed that the issues in the appeals are squarely covered by the decision of the Hon’ble Jurisdictional High Court (Madras) in the case of M/s.Coimbatore Central ITA Nos.823 to 826/Mds/2017 :- 3 -: Co-operative

THE LIC EMPLOYEES CO-OPERATIVE BANK LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals filed by the assessee are stands allowed

Bench: Shri George Mathan & Shri S. Jayaraman

TDS on the interest paid on the deposits by Co-operative societies involved in banking business. 5. We have considered the rival submissions. As it is noticed that the issues in the appeals are squarely covered by the decision of the Hon’ble Jurisdictional High Court (Madras) in the case of M/s.Coimbatore Central ITA Nos.823 to 826/Mds/2017 :- 3 -: Co-operative

THE LIC EMPLOYEES CO-OPERATIVE BANK LTD.,CHENNAI vs. ACIT, CHENNAI

In the result, appeals filed by the assessee are stands allowed

Bench: Shri George Mathan & Shri S. Jayaraman

TDS on the interest paid on the deposits by Co-operative societies involved in banking business. 5. We have considered the rival submissions. As it is noticed that the issues in the appeals are squarely covered by the decision of the Hon’ble Jurisdictional High Court (Madras) in the case of M/s.Coimbatore Central ITA Nos.823 to 826/Mds/2017 :- 3 -: Co-operative

COONOOR COOPERATIVE URBANK BANK LIMITED,COONOOR vs. DCIT,, OOTY

In the result, the appeal of the assesseein ITA No

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita No.228/Chny/2023 (िनधा"रणवष" / Assessment Year: 2014-2015) Coonoor Co-Operative Urban Bank Vs. The Deputy Commissioner Of Limited, Income Tax, No.15, Mount Road, Circle I, Coonoor. Ooty. [Pan: Aaaac 0793M] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Miss N.V. Lakshmi, Advocate ""यथ" क" ओर से /Respondent By : Shri. Arv Srinivasan, Irs, Addl. Cit. सुनवाई क" तार"ख/Date Of Hearing : 20.06.2024 घोषणा क" तार"ख /Date Of Pronouncement : 27.08.2024 आदेश / O R D E R Per Manu Kumar Giri ()

TDS at applicable rate. (iv) Disallowance of Rs.48,76,149/- being contribution unrecognized staff provident fund by employee. (v) Disallowance u/s.40 (a)(ia) of Rs.4,82,97,933/- interest paid on various deposits for want of Tax Deduction at source on ground of applicability of Section 194A (1)’’. 3

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT,LTU(2), CHENNAI

Accordingly, this ground of Revenue is dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal & Hon’Ble Shri Manu Kumar Giriआयकरअपील सं./ Ita Nos.661/Chny/2019, 202 & 203/Chny/2023 (िनधा"रणवष" / Assessment Years: 2015-16, 2016-17 & 2017-2018) Indian Overseas Bank, Vs. The Assistant Commissioner Of 763, Anna Salai, Income Tax, Chennai 600 002. Ltu (2) Chennai. आयकरअपील सं./ Ita Nos.914/Chny/2019, 253 & 254/Chny/2023 (िनधा"रणवष" / Assessment Years: 2015-16, 2016-17&2017-2018) The Assistant Commissioner Of Vs. Indian Overseas Bank, Income Tax, 763, Anna Salai, Ltu (2) Chennai 600 002. Chennai. [Pan: Aaaci 1223J] (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee By : Shri. C. Naresh, C.A., Department By : Shri. A. Sasikumar, Irs. Cit. सुनवाई क" तार"ख/Date Of Hearing : 14.11.2024 घोषणा क" तार"ख /Date Of Pronouncement : 31.12.2024

V) Applicability of Provisions of section 115JB: This ground whether the requirement of sub-section (2) of 115JB is fulfilled in the present case of the assessees has been allowed in favour of assessee by the co- ordinate bench of the Tribunal in assessee’s own case in ITA Nos.948 & 777 /Chny/2018 for AY 2014-15 which held as under

INDIAN OVERSEAS BANK,CHENNAI vs. ACIT LTU-2, CHENNAI

V) Applicability of Provisions of section 115JB:\nThis ground whether the requirement of sub-section (2) of 115JB is fulfilled in the\npresent case of the assessees has been allowed in favour of assessee by the co-\nordinate bench of the Tribunal in assessee's own case in ITA Nos.948 & 777\n/Chny/2018 for AY 2014-15 which held as under

ACIT LTU-2, CHENNAI vs. INDIAN OVERSEAS BANK, CHENNAI

V) Applicability of Provisions of section 115JB:\nThis ground whether the requirement of sub-section (2) of 115JB is fulfilled in the\npresent case of the assessees has been allowed in favour of assessee by the co-\nordinate bench of the Tribunal in assessee's own case in ITA Nos.948 & 777\n/Chny/2018 for AY 2014-15 which held as under

ACIT, NON-CORPORATE CIRLE-8, CHENNAI vs. INDIAN OVERSEAS BANK, CHENNAI

V) Applicability of Provisions of section 115JB:\nThis ground whether the requirement of sub-section (2) of 115JB is fulfilled in the\npresent case of the assessees has been allowed in favour of assessee by the co-\nordinate bench of the Tribunal in assessee's own case in ITA Nos.948 & 777\n/Chny/2018 for AY 2014-15 which held as under

INDIAN OVERSEAS BANK,CHENNAI vs. DCIT,LTU(2), CHENNAI

V) Applicability of Provisions of section 115JB:\nThis ground whether the requirement of sub-section (2) of 115JB is fulfilled in the\npresent case of the assessees has been allowed in favour of assessee by the co-\nordinate bench of the Tribunal in assessee's own case in ITA Nos.948 & 777\n/Chny/2018 for AY 2014-15 which held as under

M/S. CITY UNION BANK,,KUMBAKONAM vs. DCIT, CIRCLE - 2 (1),, TRICHY

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

DCIT CIRCLE-2(1), TRICHY vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LTD., KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

ACIT CIRCLE 1, KUMBAKONAM vs. CITY UNION BANK LTD., KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

CITY UNION BANK LIMITED,KUMBAKONAM vs. ACIT CIRCLE 1, KUMBAKONAM

In the result, appeal filed by the revenue for assessment year 2017-18 is partly allowed for statistical purposes

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita Nos.: 1120 & 1121/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 M/S. City Union Bank Ltd., Asst. Commissioner Of Income- Administrative Office V. Tax, “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 672/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 M/S. City Union Bank Ltd., Deputy Commissioner Of Administrative Office V. Income-Tax, “Narayana” Circle -2(1), 24-B, Gandhi Nagar, Trichy. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita Nos.: 1418 & 1419/Chny/2019 िनधा"रण वष" / Assessment Years: 2015-16, 2016-17 Asst. Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -1, 24-B, Gandhi Nagar, Kumbakonam. Kumbakonam- 612 001. [Pan: Aaacc-1287-E] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./Ita No.: 636/Chny/2020 िनधा"रण वष" / Assessment Year: 2017-18 Deputy Commissioner Of M/S. City Union Bank Ltd., Income-Tax, V. Administrative Office “Narayana” Circle -2(1), 24-B, Gandhi Nagar

section 36(1)(viii) of the Act, prescribed method has been provided for computing deduction for eligible profit and as per said section, an amount not exceeding 20% of profit derived from eligible business computed under the head ‘profit and :-60-: ITA. No: 1120, 1121, 1418 & 1419/Chny/2019, 636 & 672/Chny/2020 gains of business or profession’ (before making any deduction under this

DCIT, CHENNAI vs. SIVA VENTURES LTD., CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

3. Since none represented the assesssee, we required the ld DR to present the case . The Ld DR invited our attention to the relevant portion of the order of the ld CIT(A) , and submitted that the assesseee , V S Net limited , subsequently merged with M/s Siva Industries and Holdings Limited (”SIHL” or “the appellant” ) is engaged in the business

DCIT, CHENNAI vs. SIVA VENTURES LIMITED, CHENNAI

In the result, the assessee’s appeals in ITA No 1392/2016 for the

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

3. Since none represented the assesssee, we required the ld DR to present the case . The Ld DR invited our attention to the relevant portion of the order of the ld CIT(A) , and submitted that the assesseee , V S Net limited , subsequently merged with M/s Siva Industries and Holdings Limited (”SIHL” or “the appellant” ) is engaged in the business