PR.COMM.OF INCOME TAX vs. M/S THE JAMMU AND KASHMIR BANK LTD.

The appeals are dismissed

Bench: HON'BLE MR. JUSTICE SANJEEV KUMAR,HON'BLE MR. JUSTICE JAVED IQBAL WANI

2. For both the assessment years i.e 2010-11 and 2011-12, the Joint Commissioner of Income Tax, Range-1 Jammu [‘the Assessing Authority’] decided the issue in favour of the Revenue and held that the Jammu Development Authority [‘JDA’] is a Local Authority which is not exempt from payment of tax and, therefore, the assessee-Bank was under

J AND K BANK LTD.RAIL HEAD COMPLEX JAMMU vs. JT.COMMISSIONER INCOME TAX