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

1)(viii) of the Act, on the ground that, as per provisions of 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

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

1)(viii) of the Act, on the ground that, as per provisions of 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

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

1)(viii) of the Act, on the ground that, as per provisions of 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

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

1)(viii) of the Act, on the ground that, as per provisions of 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

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

1)(viii) of the Act, on the ground that, as per provisions of 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

CLASSIC LINEN INTERNATIONAL PVT LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 1(2), CHENNAI

In the result, the appeal filed by assessee in iTA

Bench: Shri N.R.S. Ganesan & Shri Ramit Kochar"नधा$रण वष$ /Assessment Year: 2011-12

section 32, the written down value of any asset used for the purposes of the business of the undertaking shall be computed as if the assessee had claimed and been actually allowed the deduction in respect of depreciation for each of the relevant assessment year. (7) The provisions of sub-section (8) and sub-section (10) of section

ABAN OFFSHORE LIMITED,CHENNAI vs. DCIT, INTL, TAX 1(1), CHENNAI

In the result, the appeal filed by the assessee is allowed

41\nand sections 43 and 43A. The aggregate amounts are quantified in sub-\nsection (2) of section 44BB to be the amount paid or payable, received or\ndeemed to be received, etc. As per sub-section (3) of section 44BB the non-\nresident can claim a lower profit. It is for the purpose of claiming lower\nprofits that

VIRUDHUNAGAR CENTRAL DISTRICT CO-OPERATIVE BANK,VIRUDHUNAGAR vs. ITO, VIRUDHUNAGAR

In the result, the appeals of the assessee for both the years are

Bench: Shri N.R.S. Ganesan, Shri Abraham P. George & Shri A.Mohan Alankamony] आयकर अपील सं./I.T.A. Nos.2055 & 2056/Chny/2014 "नधा"रण वष" /Assessment Years :2012-13 & 2013-2014. The Virudhunagar District Vs. The Income Tax Officer, Central Co-Operative Bank Ltd, Tds Ward, 104/1, Madurai Road, Virudhungar. Virudhunagar 626 001. [Pan Aaaau 0147N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

TDS ward, 104/1, Madurai Road, Virudhungar. Virudhunagar 626 001. [PAN AAAAU 0147N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. C. Maruthappan, C.A. अपीलाथ" क" ओर से/ Appellant by ""यथ" क" ओर से /Respondent by : Shri. Sailendra Mamidi, PCIT. सुनवाई क" तार"ख/Date of Hearing : 08-10-2018 : 09-10-2018 घोषणा क" तार"ख /Date of Pronouncement आदेश

VIRUDHUNAGAR CENTRAL DISTRICT CO-OPERATIVE BANK,VIRUDHUNAGAR vs. ITO, VIRUDHUNAGAR

In the result, the appeals of the assessee for both the years are

Bench: Shri N.R.S. Ganesan, Shri Abraham P. George & Shri A.Mohan Alankamony] आयकर अपील सं./I.T.A. Nos.2055 & 2056/Chny/2014 "नधा"रण वष" /Assessment Years :2012-13 & 2013-2014. The Virudhunagar District Vs. The Income Tax Officer, Central Co-Operative Bank Ltd, Tds Ward, 104/1, Madurai Road, Virudhungar. Virudhunagar 626 001. [Pan Aaaau 0147N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

TDS ward, 104/1, Madurai Road, Virudhungar. Virudhunagar 626 001. [PAN AAAAU 0147N] (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. C. Maruthappan, C.A. अपीलाथ" क" ओर से/ Appellant by ""यथ" क" ओर से /Respondent by : Shri. Sailendra Mamidi, PCIT. सुनवाई क" तार"ख/Date of Hearing : 08-10-2018 : 09-10-2018 घोषणा क" तार"ख /Date of Pronouncement आदेश

RAMAMURTHY D.P.,PUDUCHERRY vs. ITO, TDS WARD,, PUDUCHERRY

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

Bench: Shri George George K & Shri Jagadishआयकर अपील सं./Ita Nos.1741 & 1742/Chny/2025 िनधा"रण वष" /Assessment Years: 2013-14 & 2014-15

41 days). Since the returns were filed belatedly, the A.O while processing return u/s 200A , charged late fee under section 234E at Rs. 200/- per day of default, subject to the amount of TDS deductible. The assessee had filed appeals against the order of the AO, CPC, TDS Cell. The Ld.CIT(A) upheld the charging of late fee u/s 234E

RAMAMURTHY D.P.,PUDUCHERRY vs. ITO, TDS WARD,, PUDUCHERRY

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

Bench: Shri George George K & Shri Jagadishआयकर अपील सं./Ita Nos.1741 & 1742/Chny/2025 िनधा"रण वष" /Assessment Years: 2013-14 & 2014-15

41 days). Since the returns were filed belatedly, the A.O while processing return u/s 200A , charged late fee under section 234E at Rs. 200/- per day of default, subject to the amount of TDS deductible. The assessee had filed appeals against the order of the AO, CPC, TDS Cell. The Ld.CIT(A) upheld the charging of late fee u/s 234E

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

41. incurred in cash at Chennai and Vellore centers of the assessee can be considered as not properly vouched and if so, whether it can be construed as funds diverted for use of trustees or specified persons indirectly benefiting them, thereby attracting Section 11(1) ( c) of the Act. The findings of the ld. Commissioner of Income Tax (Appeals

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

41. incurred in cash at Chennai and Vellore centers of the assessee can be considered as not properly vouched and if so, whether it can be construed as funds diverted for use of trustees or specified persons indirectly benefiting them, thereby attracting Section 11(1) ( c) of the Act. The findings of the ld. Commissioner of Income Tax (Appeals

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

41. incurred in cash at Chennai and Vellore centers of the assessee can be considered as not properly vouched and if so, whether it can be construed as funds diverted for use of trustees or specified persons indirectly benefiting them, thereby attracting Section 11(1) ( c) of the Act. The findings of the ld. Commissioner of Income Tax (Appeals

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

41. incurred in cash at Chennai and Vellore centers of the assessee can be considered as not properly vouched and if so, whether it can be construed as funds diverted for use of trustees or specified persons indirectly benefiting them, thereby attracting Section 11(1) ( c) of the Act. The findings of the ld. Commissioner of Income Tax (Appeals

M/S. T vs. AUTO ASSIST (INDIA) LTD.,,CHENNAIVS.ACIT, CORPORATE CIRCLE - 3 (1),, CHENNAI

In the result, the appeal of the Assessee in I

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

41,750/- in Form No.26AS. The Assessee has declared an interest income of Rs.42,45,457/- and TDS portion for Rs.4,20,855/- and the balance TDS credit was Rs.44,20,895/- towards the business receipts of Rs.19,87,88,005/- as per Form No.26AS but the CIT(A) had restricted the TDS credit to the extent of Rs.42

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

TDS deduction by Surat Branch on MICR payments to SBI. We have dealt on the legal issue in assessment year 2007-08 in ITA No. 2034/2014, where the disputed matter was remitted to the file of the CIT(A) to decide the legal issue and pass the order on merits and we find disputed issue in the present assessment year

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

TDS deduction by Surat Branch on MICR payments to SBI. We have dealt on the legal issue in assessment year 2007-08 in ITA No. 2034/2014, where the disputed matter was remitted to the file of the CIT(A) to decide the legal issue and pass the order on merits and we find disputed issue in the present assessment year

ACIT, KUMBAKONAM vs. CITY UNION BANK LIMITED, KUMBAKONAM

In the result, the appeals filed for the assessment year 2007-08 filed by

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

TDS deduction by Surat Branch on MICR payments to SBI. We have dealt on the legal issue in assessment year 2007-08 in ITA No. 2034/2014, where the disputed matter was remitted to the file of the CIT(A) to decide the legal issue and pass the order on merits and we find disputed issue in the present assessment year