THE DCIT, COCHIN vs. M/S.COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance can be made on account of interest expenditure under section 14A. From these and a conspectus of several other judicial ratios held by the Hon'ble Courts and Tribunals, it is clear that the Appellant cannot be prevented, u/s 14A or u/s 2(22

THE DCIT, COCHIN vs. M.S COCHIN INTERNATIONAL AIRPORT LTD, COCHIN

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowance can be made on account of interest expenditure under section 14A. From these and a conspectus of several other judicial ratios held by the Hon'ble Courts and Tribunals, it is clear that the Appellant cannot be prevented, u/s 14A or u/s 2(22

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE ACIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

Section 139(1) of the IT Act. The disability to claim deductions on account of such lately credited sum of TDS in assessment of the previous year in which it was deducted, was detrimental to the small traders who may not be in a position to bear the burden of such disallowance in the present Assessment Year. 22

M/S.US TECHNOLOGY RESOURCES P. LTD,TRIVANDRUM vs. THE DCIT, TRIVANDRUM

In the result, the appeal for assessment year 2011-2012

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

Section 139(1) of the IT Act. The disability to claim deductions on account of such lately credited sum of TDS in assessment of the previous year in which it was deducted, was detrimental to the small traders who may not be in a position to bear the burden of such disallowance in the present Assessment Year. 22

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 ITA Nos.393-399/Coch/2023. Federal Bank Limited. disallowance, RBI penalty (ies) and ESOP claim in ITA No.397/Coch/2023, 14A r.w.r 8D, sec.36(1)(viii), sec.36(1)(vii) and ESOP disallowance and 14A r.w.r. 8D, 36(1)(vii), club subscription fee, RBI penalty, sec.36(1)(viii), sec.36(1)(vii), 115JB adjustment, ESOP disallowance, involving varying sums, respectively. Suffice to say, we make

RAMAPURAM NORTH AISWARYA PRADAYINI SCB LTD ,ALAPPUZHA vs. THE ITO WARD 3, ALAPPUZHA

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year 2017-18 Ramapuram North Aiswarya Pradayini Scb Ltd. Ramapuram North, The Income Tax Officer Vs. Keerikadu P.O., Alappuzha Ward - 3, Pin - 690508 Alappuzha Pan Aacar2023D (Appellant) (Respondent)

disallowing the impugned claim, the assessee concerned must be proved to be in banking business with general public as per the corresponding provisions in the Banking Regulation Act, 1949 as under : “14. We shall now analyse the aforesaid judgments in a common conspectus. 14.1. In Apex Co-operative Bank of Urban Bank of Maharashtra and Goa Ltd., it was categorically

THE THRIKKOVIL VATTOM PANCHAYATH SERVICE CO-OP BANK LTD,KOLLAM vs. ITO, KOLLAM

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

22 of the said Act. Conclusion: In the instant case, although the appellant society is an apex cooperative society within the meaning of the State Act, 1984, it is not a co-operative bank within the meaning of Section 5(b) read with Section 56 of the BR Act, 1949. In the result, the appeals filed by the appellant

THE KAREEPPA PANCHAYATH SERVICE CO-OPERATIVE BANK LTD.D,KOLLAM vs. THE ITO, KOLLAM

Appeal is allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhassessment Year : 2017-18

22 of the said Act. Conclusion: In the instant case, although the appellant society is an apex cooperative society within the meaning of the State Act, 1984, it is not a co-operative bank within the meaning of Section 5(b) read with Section 56 of the BR Act, 1949. In the result, the appeals filed by the appellant

M/S CHIRAYINKEEZHU SERVICE CO-OPERATIVE BANK,CHIRAYINKEEZHU vs. ITO, WARD-2(5), TRIVANDRUM

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowed the assessee’s section 80P(2) deduction claim representing its income derived from M/s. Trivandrum District Co-operative Bank Ltd., amounting to Rs. Rs.12,75,20,483/-. The Revenue further seeks to fortify the same on the ground that this assessee is in fact a co-operative bank as per the decision of the hon'ble jurisdictional high court

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

disallowance of deduction on account of provision for leave encashment. The Hon’ble Supreme Court in the case of Exide Industries 116 Taxmann.com 378 (SC) on 24 April 2020, in Civil Appeal 3545/2009 overruled the decision of Calcutta High Court in the case of Exide Industries and upheld the constitutional validity for deduction of leave encashment on payment basis under

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

disallowance of deduction on account of provision for leave encashment. The Hon’ble Supreme Court in the case of Exide Industries 116 Taxmann.com 378 (SC) on 24 April 2020, in Civil Appeal 3545/2009 overruled the decision of Calcutta High Court in the case of Exide Industries and upheld the constitutional validity for deduction of leave encashment on payment basis under

ACIT, KOCHI vs. FEDERAL BANK LTD, ALUVA

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

disallowance of deduction on account of provision for leave encashment. The Hon’ble Supreme Court in the case of Exide Industries 116 Taxmann.com 378 (SC) on 24 April 2020, in Civil Appeal 3545/2009 overruled the decision of Calcutta High Court in the case of Exide Industries and upheld the constitutional validity for deduction of leave encashment on payment basis under

THE FEDERAL BANK LTD,ALUVA vs. THE ACIT, KOCHI

In the result, appeals of the Assessee and revenue for AY 2008-09 to 2010-

Bench: Shri N. V. Vasudevan & Ms. S. Padmavathy

disallowance of deduction on account of provision for leave encashment. The Hon’ble Supreme Court in the case of Exide Industries 116 Taxmann.com 378 (SC) on 24 April 2020, in Civil Appeal 3545/2009 overruled the decision of Calcutta High Court in the case of Exide Industries and upheld the constitutional validity for deduction of leave encashment on payment basis under