THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. ACIT, CIRCLE-1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. JCIT, RANGE-1, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. DCIT, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. ACIT, CIRCLE 1(1)& TPS, THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

THE SOUTH INDIAN BANK LIMITED ,THRISSUR vs. ACIT, CIRCLE 1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

THE SOUTH INDIAN BANK LIMITED,THRISSUR vs. JCIT, CIRCLE-1(1), THRISSUR

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

viia) based on population of village instead of population of ward. The South Indian Bank Ltd. 6. Without prejudice to the above, on the facts and in the circumstances of the case, based on the decision of Hon'ble Supreme Court in case of Vijaya Bank (323 ITR 166), since the provision made is reduced from advances in the Balance

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

FEDERAL BANK LTD,KOCHI vs. ACIT CORP. CIRCLE-1(1 ) , KOCHI

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

gains of business or profession” before making any deduction under this clause) carried to such reserve account: Provided that where the aggregate of the amounts carried to such reserve account from time to time exceeds twice the amount of the paid-up share capital and of the general reserves of the corporation or, as the case may be, the company

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

M/S.PERRORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, TRIVANDRUM

In the result, the appeal of the Revenue in I

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

M/S.PEROORKADA SERVICE CO-OP BANK LTD,TRIVANDRUM vs. THE ITO, WD-2(1), TRIVANDRUM, TRIVANDRUM

In the result, the appeal of the Revenue in I

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

THE ITO, TRIVANDRUM vs. M/S.PERRORKADA SERVICE CO-OP BANK LTD, TRIVANDRUM

In the result, the appeal of the Revenue in I

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

viia). vi. examining whether contingency expense claimed is an allowable item. vii. Ensure that interest income on deposits is accounted for in accordance with provisions of section 145. viii. computation of income in accordance with cash or mercantile system as applicable. ix. consideration of Form 3CD which is to be called for. B. Determine income from house property, capital gains

THE KERALA STATE FINANCIAL ENTERPRISE LTD,CHEMBUKKAVU vs. DCIT, CIRCLE-1(1) &TPS, THRISSUR

In the result, appeal filed by the assessee as well as Revenue stand partly allowed

Bench: Shri Inturi Rama Rao, Accontant Member & Shri Sandeep Singh Karhail

capital expenditure. However, in respect of provision for bad and doubtful debts, the CIT(A) while expressing an agreement with the contention of the appellant that debiting the provision for bad and doubtful debts to profit and loss account and reducing the same from the sundry debtors / advances in the balance sheet constitute “write off”, as held

ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE-1(1), THRISSUR vs. THE KERALA STATE FINANCIAL ENTERPRISES LIMITED, THRISSUR

In the result, appeal filed by the assessee as well as Revenue stand partly allowed

Bench: Shri Inturi Rama Rao, Accontant Member & Shri Sandeep Singh Karhail

capital expenditure. However, in respect of provision for bad and doubtful debts, the CIT(A) while expressing an agreement with the contention of the appellant that debiting the provision for bad and doubtful debts to profit and loss account and reducing the same from the sundry debtors / advances in the balance sheet constitute “write off”, as held

ASSISTANT COMMISSIONER OF INCOME TAX, THRISSUR vs. THE KERALA STATE FINANCIAL ENTERPRISES LIMITED, THRISSUR

In the result, appeal filed by the assessee as well as Revenue stand partly allowed

Bench: Shri Inturi Rama Rao, Accontant Member & Shri Sandeep Singh Karhail

capital expenditure. However, in respect of provision for bad and doubtful debts, the CIT(A) while expressing an agreement with the contention of the appellant that debiting the provision for bad and doubtful debts to profit and loss account and reducing the same from the sundry debtors / advances in the balance sheet constitute “write off”, as held