ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

Housing Finance Ltd.(supra) the Hon'ble Delhi High Court again following the decision rendered in the case Maxopp Investment Ltd. vs. CIT(supra) and the decision of Hon'ble Apex Court in the case of South Indian Bank Ltd. (supra) held that no disallowance u/s. 14A of the Act is warranted where shares are held as stock-in-trade

ACIT, CIRCLE-2(1)(1), MUMBAI vs. M/S BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue for the assessment year 2018-

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhailita No.1452/Mum/2023 Assessment Year : 2016-17 Assessment Year : 2018-19

Housing Finance Ltd.(supra) the Hon'ble Delhi High Court again following the decision rendered in the case Maxopp Investment Ltd. vs. CIT(supra) and the decision of Hon'ble Apex Court in the case of South Indian Bank Ltd. (supra) held that no disallowance u/s. 14A of the Act is warranted where shares are held as stock-in-trade

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

vii) or towards provision for bad and doubtful debts under section 36(1)(viia) and decide the taxability in accordance with law. Disallowance due to re-computation of deduction under section 36(1)(viia) – Ground No.2 in assessee's appeal & Ground No.2 in revenue's appeal 8. The assessee for the year under consideration has debited

DY..C.I.T., BANGALORE vs. M/S STATE BANK OF MYSORE, BANGALORE

Bench: Justice (Retd.) C V Bhadang & Ms Padmavathy S, Am

vii) or towards provision for bad and doubtful debts under section 36(1)(viia) and decide the taxability in accordance with law. Disallowance due to re-computation of deduction under section 36(1)(viia) – Ground No.2 in assessee's appeal & Ground No.2 in revenue's appeal 8. The assessee for the year under consideration has debited

STATE BANK OF INDIA,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

property and rights of the company: (m) acquiring and undertaking the whole or an part of the business of any person or company, when such business is of a nature enumerated or described in this sub-section; (n) doing all such other things as are incidental or conducive to the promotion or advancement of the business of the company

ASST CIT CIR 2(2)(1), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

In the result, the appeal by the Revenue is partly allowed for statistical purposes

Bench: Shri B.R. Baskaran & Shri Sandeep Singh Karhail

property and rights of the company: (m) acquiring and undertaking the whole or an part of the business of any person or company, when such business is of a nature enumerated or described in this sub-section; (n) doing all such other things as are incidental or conducive to the promotion or advancement of the business of the company

DY CIT-1(3)(2), MUMBAI vs. MAHARASHTRA STATE CO-OPERATIVE BANK LIMITED, MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

vii) of the Act, M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 (including opening (including opening credit balance of the provision of the bad credit balance of the provision of the bad debts created us 36(1)(viia) of the act, although, the opening debts created us 36(1)(viia

M/S THE MAHARASHTRA STATE CO. OP BANK LTD.,MUMBAI vs. ITO-1(3)(3), MUMBAI

In the result, the appeal of the In the result, the appeal of the assessee is allowed partly assessee is allowed partly whereas the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail () Assessment Year: 2013-14

vii) of the Act, M/s The Maharashtra State Co-op. Bank Ltd. M/s The Maharashtra State Co ITA Nos. 3878 & 3916/Mum/2019 (including opening (including opening credit balance of the provision of the bad credit balance of the provision of the bad debts created us 36(1)(viia) of the act, although, the opening debts created us 36(1)(viia

ASST CIT CC 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

ASST CIT CC 8(4), MUMBAI vs. PHOENIX MILLS LTD, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. ASST CIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

THE PHOENIX MILLS LTD,MUMBAI vs. DCIT CEN CIR 47, MUMBAI

In the result, ground No.4 taken by assessee in assessment year

Bench: Shri R.C. Sharma (Am) & Shri Pawan Singh (Jm)

36(thirty six) months commencing from June 1, 2008 to May 31, 2011 @ Rs. 15/- (Rupees Fifteen only) per sq. ft. on built up area, amounting to. Rs. 35,595/- (Rupees Thirty Five Thousand Five Hundred and Ninety Five only) per month in advance subject to deduction of tax at source. CAM charges shall be payable from June 1

DCIT CIR 3(1), MUMBAI vs. ICICI BANK LTD, MUMBAI

In the result, Revenue’s appeal and assessee’s appeal are partly allowed for statistical purposes

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

Housing Bank, HUDCO, etc., amounting to ` 7,44,42,709. After calling for necessary details and explanation of the assessee, the Assessing Officer applying the same methodology which he adopted for computing net exempt income under section 10(23G) of the Act by applying the gross profit rate of 13.69% reduced net income exempt under section