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

68,424/-\"\n55. The learned CIT(A), vide impugned order, following the decision of the\nTribunal rendered in assessee's own case for the assessment year 2015-16,\ndeleted the addition made by the AO on this issue and allowed the loss on\naccount of amortisation of investment held in HTM category. Being aggrieved,\nthe Revenue is in appeal before

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

section 143(3) of the Act, disagreed with the submissions of the assessee and held that perpetual bonds are in the nature of debt instruments with no maturity date. Only the issuing company can buy back the bonds from the investors. Therefore, it was held these bonds are perpetual in nature. Since in the case of perpetual bonds

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

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

68,81,76,553 Total of the above (A) 385,26,81,557 Provision for bad & doubtful debts in books (B) 455,78,00,000 Deduction u/s. 36(1)(viia) - lower of A & B 385,26,81,557 9. The AO recomputed the deduction under section 36(1)(viia) on the ground that – (i) that the assessee while computing

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

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

68,81,76,553 Total of the above (A) 385,26,81,557 Provision for bad & doubtful debts in books (B) 455,78,00,000 Deduction u/s. 36(1)(viia) - lower of A & B 385,26,81,557 9. The AO recomputed the deduction under section 36(1)(viia) on the ground that – (i) that the assessee while computing

KOTAK MAHINDRA BANK LIMITED,MUMBAI vs. ADD/JOINT/DEPUTY/ACIT, NATIONAL E-ASSESSMENT CENTRE, DELHI

Section 14A(2) of the Act, read\n40\nITA Nos.4056/Mum/2023 & Others\nM/s. Kotak Mahindra Bank Ltd.\nwith Rule 8D of the Rules, before applying the theory of apportionment, the AO needs to\nrecord satisfaction that having regard to the kind of the assessee, suo moto disallowance\nunder Section 14A was not correct. It will be in those cases

DCIT-2(3)(1), MUMBAI vs. KOTAK MAHINDRA BANK LIMITED, MUMBAI

In the result the appeal filed by the assessee in ITA No

section 14A of the Act. For instance, if the total cost\nincurred for conducting the Board meeting is Rs. 10 lakhs and out of the total 20 agendas\nin the Board meeting, 5 agendas pertains to subsidiary associate and joint venture\ncompanies, 1/4th i.e. (5/20) cost of the Board meeting viz., Rs. 2.5 lakhs would be\nattributed as amount

ICICI BANK LTD.,MUMBAI vs. THE DY CIT -2(3)(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Icici Bank Ltd. The Dy. Commissioner Of Icici Bank Towers, Income-Tax 2(3)(1) Bandra Kurla Complex, Aaykar Bhavan, Vs. 5Th Floor, Room No.552, Badra (East), Mumbai-400 051 M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaaci1195H

iv. Excess deduction allowed under Section 36(1)(viia) of the Act of ₹159,22,24,604/- by allowing the claim despite assessee not revising its return of income for new claim which is against the decision of Hon'ble Supreme Court in Goetz India Limited [284 ITR 323]. v. Excess grant of deduction under Section 36(1

HOUSING DEVP. FIN.CORPN. LTD. vs. THE ADIT CIR. 1(1),

The appeal of the assessee is partly allowed

68,41,490\nLess: Expenses\nProfit Before Tax\n2,47,36,18,396\n2,53,95,92,893\n(2,36

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

section 36(1)(viia) of the Act. 27. The brief facts of the case, pertaining to the issue, are: During the assessment proceedings, it was noticed that the assessee claimed deduction of Rs.2709,78,23,972, under section 36(1)(viia) of the Act. In the notes to the computation of income filed along with the return

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

section 36(1)(viia) of the Act. 27. The brief facts of the case, pertaining to the issue, are: During the assessment proceedings, it was noticed that the assessee claimed deduction of Rs.2709,78,23,972, under section 36(1)(viia) of the Act. In the notes to the computation of income filed along with the return

DCIT 2(2), MUMBAI vs. STATE BANK OF INDIA, MUMBAI

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

iv)(h), 10(23G) by invoking the provisions contained under section 14A of the Act read with rule 8D of the Rules. 14. However, on the other hand, the Ld. CIT(A) by giving part relief to the assessee restricted the disallowance of Rs.46,35,85,591/- which has been challenged both by the assessee as well

STATE BANK OF INDIA,MUMBAI vs. DCIT CIR 2(2), MUMBAI

Bench: Shri M. Balaganesh & Shri Kuldip Singhassessment Year: 2005-06 M/S. State Bank Of India, Dcit, Financial Reporting & Circle -2(2), Taxation Dept., Mumbai 3Rd Floor, Vs. Corporate Centre, Madam Cama Road, Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent) Assessment Year: 2005-06 Office Of The Dcit-2(2), M/S. State Bank Of India, R.No.545, Central Office, Aayakar Bhavan, Accounts & Compliance M.K. Road, Dept., Vs. 14Th Floor, Mumbai- 400 020 Madam Cama Rd., Nariman Point, Mumbai – 400 021 Pan: Aaacs8577K (Appellant) (Respondent)

iv)(h), 10(23G) by invoking the provisions contained under section 14A of the Act read with rule 8D of the Rules. 14. However, on the other hand, the Ld. CIT(A) by giving part relief to the assessee restricted the disallowance of Rs.46,35,85,591/- which has been challenged both by the assessee as well

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

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed, as indicated above

Bench: Sri Mahavir Singh, Vp & Sri G Manjunatha, Am आयकर अपील सुं./ Ita No. 3644/Mum/2016 (ननर्ाारण वर्ा / Assessment Year 2008-09) State Bank Of India The Dy. Commissioner Of 3Rd Floor, Corporate Centre Income Tax, Circle -2(2)(1) बनाम/ Madam Cama Road Mumbai Vs. Nariman Point Mumbai-400021 (अपीलार्थी / Appellant) (प्रत्यर्थी/ Respondent) स्र्थायी लेखा सुं./Pan No. Aaacs8577K

iv) and 36(1)(v) of the Act specifically deal with contribution to a recognized provident fund or an approved superannuation fund or an approved gratuity fund. The said sections do not deal with providing for a liability vis-à-vis pension or any other retirement benefits. Thus, the aforesaid provision for pension made on the basis

PAHILAJRAI JAIKISHAN,MUMBAI vs. DCIT 19(3), MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

68,778 Average value of Investment related to Tax free income Opening Investment 5,22,02,950.00 Closing Investment 4,74,88,371.17 4,98,45,660 Average Total Assets in Balance Sheet Opening Total Assets 50,37,32,643 Closing Total Assets 58,77,80,214 54,57,56,428 Interest Expenses 12,66,679 C Deemed Expenses

ASST CIT 19(3), MUMBAI vs. PAHILAJRAI JAIKISHIN, MUMBAI

In the result, the appeal is allowed

Bench: Shri Shailendra Kumar Yadav & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.1562/Mum/2014 ("नधा"रण वष" / Assessment Year: 2010-11)

68,778 Average value of Investment related to Tax free income Opening Investment 5,22,02,950.00 Closing Investment 4,74,88,371.17 4,98,45,660 Average Total Assets in Balance Sheet Opening Total Assets 50,37,32,643 Closing Total Assets 58,77,80,214 54,57,56,428 Interest Expenses 12,66,679 C Deemed Expenses

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

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

Bench: Smt. Beena Pillai () & Shri Jagadish ()

36(1)(v) of the Act specifically deal with contribution to a recognized provident fund or an approved superannuation fund or an approved gratuity fund. The said sections do not deal with providing for a liability vis-à- vis pension or any other retirement benefits. Thus, the aforesaid provision for pension made on the basis of an actuarial valuation

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

In the result appeal filed by the assessee as well as revenue stands partly allowed for statistical purposes

Bench: Smt. Beena Pillai () & Shri Jagadish ()

36(1)(v) of the Act specifically deal with contribution to a recognized provident fund or an approved superannuation fund or an approved gratuity fund. The said sections do not deal with providing for a liability vis-à- vis pension or any other retirement benefits. Thus, the aforesaid provision for pension made on the basis of an actuarial valuation

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

In the result, appeal of the Revenue in ITA No

iv) iii) Interest on long term finance to Rs.134,32,03,850/- infrastructure u/s.10(23G) Total Rs.396,91,54,893/- 5.2. The ld. AO made disallowance of expenses u/s.14A of the Act in the sum of Rs.307,81,30,141/- on proportionate basis as under:- expenses by ld. AO earning income Interest on foreign 80.81% 192,65,57,054/- currency