ACIT,CIR-2, LTU - 2, KOLKATA vs. M/S. UCO BANK, KOLKATA
In the result, the appeal of the revenue as well as cross- objection of the assessee both are dismissed
ITA 728/KOL/2019[2012-13]Status: DisposedITAT Kolkata17 Jan 2020AY 2012-13
Bench: Shri P.M. Jagtap, Vice-(Kz) & Shri S.S. Godara, Jm] Assessment Year: 2012-13 A.C.I.T, Circle – 2, Ltu, Kolkata.....................................................................................Appellant 110, Shantipally, E.M. Bypass, Kolkata – 700 107. M/S. Uco Bank……………………………………………………..................................................Respondent 10, Btm Sarani, Kolkata – 700 001. [Pan : Aaacu 3561 B] C.O. No. 19/Kol/2019 (Arising Out Of Ita No. 728/Kol/2019) Assessment Year: 2012-13 M/S. Uco Bank……………………………………………………............................................Cross-Objector 10, Btm Sarani, Kolkata – 700 001. [Pan : Aaacu 3561 B] A.C.I.T, Circle – 2, Ltu, Kolkata.................................................................................Respondent 110, Shantipally, E.M. Bypass, Kolkata – 700 107. Appearances By: Smt. Ranu Biswas, Addl. Cit Appearing On Behalf Of The Revenue Shri D.S. Damle, Fca Appearing On Behalf Of The Assessee Date Of Concluding The Hearing : December 10, 20219 Date Of Pronouncing The Order : January 17Th , 2020 Order Per P.M. Jagtap, Vice-(Kz) This Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit (A) – 23, Kolkata Dated 29.01.2019 & The Same Is Being Disposed Of Along With The Cross-Objection Filed By The Assessee Being C.O. No. 19/Kol/2019. 2. In The Present Appeal Filed By The Revenue, The Following Grounds Are Raised:
Section 10(15)Section 201Section 40
70 lists out all kinds of amounts and income which are not taxable. Section 10(15)(iv) to the extent it is relevant reads as follows:
“(I) Interest payable –
(h) by any public sector company in respect of such bonds or debentures and subject to such conditions including the condition that the "holder of such bonds or debentures register
