UNION BANK OF INDIA,HYDERABAD vs. DY. COMMISSISONER OF INCOME TAX, CIRCLE-1(1), HYDERABAD
In the result, the appeals filed by the assessee as well as the Revenue are partly allowed for statistical purposes
ITA 1018/HYD/2017[2012-13]Status: DisposedITAT Hyderabad28 Aug 2024AY 2012-13
Bench: Shri Manjunatha, G. & Shri K. Narasimha Charyआ.अपी.सं /Ita No.1018/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13) Andhra Bank Vs. Dy. C. I. T. Hyderabad Circle 1(1) Pan:Aabca7375C Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.1230/Hyd/2017 (िनधा"रण वष"/Assessment Year: 2012-13 ) Dy. C. I. T. Vs. Andhra Bank Circle 1(1) Hyderabad Hyderabad Pan:Aabca7375C (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ananthan, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Cit(Dr) सुनवाई की तारीख/Date Of Hearing: 02/07/2024 घोषणा की तारीख/Pronouncement: 28/08/2024 आदेश/Order Per Manjunatha, G. A.M These Cross Appeals Filed By The Assessee, As Well As The Revenue, Are Directed Against The Order Dated 16/02/2016 Of Page 1 Of 59
For Appellant: Shri Ananthan, CAFor Respondent: : Shri Kumar Pranav, CIT(DR)
Section 36(1)(vi)Section 36(1)(vii)Section 36(1)(viia)Section 41(4)
80P(2)(a)(i) of the Act but would also be applicable to all banks/commercial banks, to which Banking Regulation Act, 1949 applies.
38) From this, Punjab and Haryana High Court pointed out that this circular carves out a distinction between ‘stock- in-trade’ and ‘investment’ and provides that if the motive behind purchase and sale of shares
