RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2, JALPAIGURI, JALPAIGURI

viia) of the Act by\napplying Rule 6ABA of the Income Tax Rules, 1962.\n11. Ground Nos. 8 and 9 relate to disallowance u/s 40(a)(ia) of the Act\non account of non-deduction of TDS. The provisions of section 40(a)(ia)\nof the Act are as under:\n“40. Notwithstanding anything to the contrary in sections

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,RAIGANJ, UTTAR DINAJPUR vs. JCIT (TDS), RANGE - 6, SILIGURI

viia) of the Act by\napplying Rule 6ABA of the Income Tax Rules, 1962.\n11.\nGround Nos. 8 and 9 relate to disallowance u/s 40(a)(ia) of the Act\non account of non-deduction of TDS. The provisions of section 40(a)(ia)\nof the Act are as under:\n“40. Notwithstanding anything to the contrary in sections

DCIT, CIR-2(1), KOLKATA, KOLKATA vs. M/S ROYAL BANK OF SCOTLAND N.V., KOLKATA

Accordingly, the Ground Nos. (iv) to (vi) raised by the revenue are dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 503/Kol/2016 Assessment Year : 2011-12 Dcit (It), Circle-2(1), Kolkata -Vs- M/S Royal Bank Of Scotland N.V. [Pan: Aacca 6818 K] (Appellant) (Respondent) I.T.A No. 505/Kol/2016 Assessment Year : 2011-12 M/S Royal Bank Of Scotland N.V. -Vs- Dcit (It), Circle-2(1), Kolkata [Pan: Aacca 6818 K] (Appellant) (Respondent)

2(1) of the part B of the Fourth Schedule. The bank has been regularly contributing to the fund for the base pension, based on actuarial valuation and have been claiming a deduction of the same on payment basis under Section 36(1)(iv) read with Section 43B(b) of the Act. • Apart from the approved superannuation fund, to compensate

THE ROYAL BANK OF SCOTLAND N.V.,KOLKATA vs. DCIT, (IT) - 2(1), KOLKATA, KOLKATA

Accordingly, the Ground Nos. (iv) to (vi) raised by the revenue are dismissed

Bench: Hon’Ble Shri Aby. T. Varkey, Jm & Shri M.Balaganesh, Am ] I.T.A No. 503/Kol/2016 Assessment Year : 2011-12 Dcit (It), Circle-2(1), Kolkata -Vs- M/S Royal Bank Of Scotland N.V. [Pan: Aacca 6818 K] (Appellant) (Respondent) I.T.A No. 505/Kol/2016 Assessment Year : 2011-12 M/S Royal Bank Of Scotland N.V. -Vs- Dcit (It), Circle-2(1), Kolkata [Pan: Aacca 6818 K] (Appellant) (Respondent)

2(1) of the part B of the Fourth Schedule. The bank has been regularly contributing to the fund for the base pension, based on actuarial valuation and have been claiming a deduction of the same on payment basis under Section 36(1)(iv) read with Section 43B(b) of the Act. • Apart from the approved superannuation fund, to compensate

ACIT, CIRCLE-41, NADIA, NADIA vs. M/S SAKTINAGAR SAMABAY KRISHI UNNYAN SAMITY LTD., NADIA

In the result, the appeal of the revenue is dismissed

24, 2017 Date of pronouncing the order : October 27, 2017 ORDER This appeal is preferred by the revenue against the order of Ld. CIT (A) – 12, Kolkata dated 18.09.2016 and the grounds raised by the revenue therein read as under: “1. The Assessing Officer has invoked the provisions of section 40(a)(ia) of IT Act, 1961 because the assessee

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. A.C.I.T., CIRCLE - 2(2), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

2 and 13 are general in nature and do not require any separate adjudication. 24. Ground Nos. 3 and 4 are allowed in view of the finding in paras 9 and Form No. 10 respectively on these issues as the facts are identical and the status of the assessee shall be a cooperative society and not a cooperative bank

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2(1), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

2 and 13 are general in nature and do not require any separate adjudication. 24. Ground Nos. 3 and 4 are allowed in view of the finding in paras 9 and Form No. 10 respectively on these issues as the facts are identical and the status of the assessee shall be a cooperative society and not a cooperative bank

RAIGANJ CENTRAL CO-OPERATIVE BANK LTD.,UTTAR DINAJPUR vs. D.C.I.T., CIRCLE - 2(2), JALPAIGURI

In the result, the appeal for A

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

2 and 13 are general in nature and do not require any separate adjudication. 24. Ground Nos. 3 and 4 are allowed in view of the finding in paras 9 and Form No. 10 respectively on these issues as the facts are identical and the status of the assessee shall be a cooperative society and not a cooperative bank

ALLAHABAD BANK,KOLKATA vs. D.C.I.T CIR - 6,KOLKATA., KOLKATA

In the result, Revenue’s appeal stands partly allowed for statistical purpose

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Ravi

TDS in the financial year 2008-09, which had been disallowed in the immediately preceding assessment year under section 40(a)(ia) 6. That, on facts as well as on law, the Learned Commissioner of Income Tax (Appeal)-VI, Kol has erred in confirming the disallowance of loss amounting to Rs.78,09,87,000 arising due to revaluation of unsettled

DARJEELING DISTRICT CENTRAL CO.OP. BANK LTD. ,DARJEELING vs. ACIT(OSD)(TDS)WD-5(3), DARJEELING, , DARJEELING.

In the result, all the appeals of the assessee are allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

viia)(a) of section 194A(3) of the Income-tax Act shall not be required to deduct tax on interest payment to depositors even after the said amendment. 42.7 Further, the existing exemption provided under section (3)(v) of the Income-tax Act from deduction of tax from interest paid by a co-operative society to another co-operative society

DARJEELING DISTRICT CENTRAL CO-OPERATIVE BANK LTD. ,DARJEELING vs. ACIT(OSD)(TDS),WD-5(3),DARJEELING, DARJEELING.

In the result, all the appeals of the assessee are allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

viia)(a) of section 194A(3) of the Income-tax Act shall not be required to deduct tax on interest payment to depositors even after the said amendment. 42.7 Further, the existing exemption provided under section (3)(v) of the Income-tax Act from deduction of tax from interest paid by a co-operative society to another co-operative society

DARJEELING DISTRICT CENTRAL CO-OP. BANK LTD. ,DARJEELING vs. ACIT, CIR-3(1),SILIGURI. , SILIGURI

In the result, all the appeals of the assessee are allowed

Bench: Shri Sanjay Garg & Shri Rakesh Mishra

viia)(a) of section 194A(3) of the Income-tax Act shall not be required to deduct tax on interest payment to depositors even after the said amendment. 42.7 Further, the existing exemption provided under section (3)(v) of the Income-tax Act from deduction of tax from interest paid by a co-operative society to another co-operative society

DCIT, CIR-2, JALPAIGURI, JALPAIGURI vs. M/S UTTAR BANGA KSHETRIYA GRAMIN BANK, COOCHBIHAR

In the result, Revenue’s appeal is allowed partly for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

viia) for provision of bad debts, as those were not claimed in the specific way. 5. Reliance is placed on the ratio of the following judgments: a) Visara Trading Investment Pvt. Ltd Vs.ITO, Ward-9(2), Kolkata ITA No.994(Kol) of 2009 A.Y 205-06 order dated 15.02.2012 “B” Bench, Kolkata b) CIT-II Vs. Jonsan Park Advertising & Marketing

DCIT, CIR-2, JALPAIGURI, JALPAIGURI vs. M/S UTTAR BANGA KSHETRIYA GRAMIN BANK, COOCHBIHAR

In the result, Revenue’s appeal is allowed partly for statistical purpose

Bench: Shri Aby.T Varkey & Shri Waseem Ahmed

viia) for provision of bad debts, as those were not claimed in the specific way. 5. Reliance is placed on the ratio of the following judgments: a) Visara Trading Investment Pvt. Ltd Vs.ITO, Ward-9(2), Kolkata ITA No.994(Kol) of 2009 A.Y 205-06 order dated 15.02.2012 “B” Bench, Kolkata b) CIT-II Vs. Jonsan Park Advertising & Marketing