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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 36(1) (vii)of the Act, in consonance, with Vijaya Bank (supra) and the declaration made therein. The income tax appeals are partly allowed.” 8. We thus restore the assessee’s instant sec.36(1)(vii) disallowance

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 36(1) (vii)of the Act, in consonance, with Vijaya Bank (supra) and the declaration made therein. The income tax appeals are partly allowed.” 8. We thus restore the assessee’s instant sec.36(1)(vii) disallowance

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 36(1) (vii)of the Act, in consonance, with Vijaya Bank (supra) and the declaration made therein. The income tax appeals are partly allowed.” 8. We thus restore the assessee’s instant sec.36(1)(vii) disallowance

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

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

Section 36(1) (vii)of the Act, in consonance, with Vijaya Bank (supra) and the declaration made therein. The income tax appeals are partly allowed.” 8. We thus restore the assessee’s instant sec.36(1)(vii) disallowance

DY.COMMISSIONER OF INCOME TAX, THRISSUR vs. THE CSB BANK LTD, THRISSUR

In the result, the appeal of revenue is dismissed

Bench: SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of provisions of bad and doubtful debts to the extent of Rs. 57.57 crores is deleted. 3. The CIT(A) has erred on the following points while deleting the Book profit enhancement consequent to bad and doubtful debt the extent of Rs. 57.57 crores. 3.1. Vijaya Bank decision is applicable only for normal Income and not MAT Income [Minimum

ACIT CORPORATE CIRCLE -1 (1), KOCHI vs. M/S GEOFIN COMTRADE LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

vii), i.e., is not obliterated (written off), and represents normal provision toward diminution in the value of debtors, it would be liable to be allowed u/s. 36(1)(viia), an independent provision, which stands on its own footing, as explained in Catholic Syrian Bank v. CIT [2012] 343 ITR 270 (SC). This provision, though again liable to be reflected

ACIT, KOCHI vs. M/S.GEOFIN COMTRADE LTD, KOCHI

In the result, the Revenue’s appeals are allowed

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmi

vii), i.e., is not obliterated (written off), and represents normal provision toward diminution in the value of debtors, it would be liable to be allowed u/s. 36(1)(viia), an independent provision, which stands on its own footing, as explained in Catholic Syrian Bank v. CIT [2012] 343 ITR 270 (SC). This provision, though again liable to be reflected

M/S.SOUTH MALABAR GRAMIN BANK ( PRESENTLY- KERALA GRAMIN BANK),MALAPPURAM vs. THE ACIT, CIRCLE_2(2), TIRUR, TIRUR

In the result, appeal of the assessee in ITA No

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

disallowance of deduction u/s. 36(1)(vii) towards provision for bad and doubtful advances of rural advances on the ground that no provision was made in the accounts. 9. On appeal, the CIT(A) observed that provisions of section

THE ACIT, CIRCLE-2(2), TIRUR, TIRUR vs. M/S. SOUTH MALABAR GRAMINA BANK H.O., MALAPPURAM

In the result, appeal of the assessee in ITA No

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

disallowance of deduction u/s. 36(1)(vii) towards provision for bad and doubtful advances of rural advances on the ground that no provision was made in the accounts. 9. On appeal, the CIT(A) observed that provisions of section

M/S.SOUTH MALABAR GRAMINA BANK,MALAPPURAM vs. THE ACIT, CIRCLE-2(2), TIRUR, THE ACIT, CIRCLE-2(2), TIRUR

In the result, appeal of the assessee in ITA No

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

disallowance of deduction u/s. 36(1)(vii) towards provision for bad and doubtful advances of rural advances on the ground that no provision was made in the accounts. 9. On appeal, the CIT(A) observed that provisions of section

KERALA STATE ELECTRICITY BOARD LTD,THIRUVANANTHAPURAM vs. THE ACIT, CIR-1(1), TVM, TVM

In the result, the appeals filed by the assessee as well as by the Revenue are dismissed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.29/Coch/2018 Assessment Year : 2009-10 The Assistant Commissioner Of Vs. M/S. Kerala State Electricity Board, Income-Tax,Circle-1(1), Vydyuthi Bhavan, Pattom, Trivandrum. Trivandrum-695 004. [Pan:Aabck 5896J]

vii) is subject to clause(v) of section 36(2) which specifically states that any bad debt written off should be claimed as deduction only after debiting it to the provision created for bad and doubtful debts. 9.1 The CIT(A) relied on the decision of the Hon'ble Jurisdictional High Court in the case of CIT vs. South Indian

ACIT, TRIVANDRUM vs. KERALA STATE ELECTRICITY BOARD, TRIVANDRUM

In the result, the appeals filed by the assessee as well as by the Revenue are dismissed

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.29/Coch/2018 Assessment Year : 2009-10 The Assistant Commissioner Of Vs. M/S. Kerala State Electricity Board, Income-Tax,Circle-1(1), Vydyuthi Bhavan, Pattom, Trivandrum. Trivandrum-695 004. [Pan:Aabck 5896J]

vii) is subject to clause(v) of section 36(2) which specifically states that any bad debt written off should be claimed as deduction only after debiting it to the provision created for bad and doubtful debts. 9.1 The CIT(A) relied on the decision of the Hon'ble Jurisdictional High Court in the case of CIT vs. South Indian

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same

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

Appeal is allowed

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singh

disallowing it’s section 36(1)(vii) deduction on long term housing loans granted to various customers. Suffice to say, the same