RAMESH JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

36 Ramesh Jaisinghani the transfer was completed before the shares became listed. On that date, there was neither a market quotation nor a prescribed alternative method for computing FMV. The computation mechanism was therefore incapable of operation. 52. It is settled canon of fiscal jurisprudence that a charge of tax must be supported by a clear and workable machinery provision

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

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed. 60. The next

BANK OF INDIA,MUMBAI vs. THE NATIONAL FACELESS ASSESSMENT CENTRE, MUMBAI

36(1)(viia) of the Act does not have any credit balance as on\n01/04/2015, we agree with the submissions of the assessee in claiming the\ndeduction of the entire bad debt written off as an irrecoverable under section\n36(1)(vii) of the Act. Accordingly, the impugned addition made by the AO on\nthis issue is deleted

STATE BANK OF MYSORE,BANGALORE vs. JCIT, BANGALORE

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

2) of the Act for taxing balancing charge versus taxing the same under section 41(1) of the Act and has concluded that section 41(1) of the Act shall not be applicable. 91. As the aspects of bad and doubtful debts is dealt with specifically under section 41(4) of the Act, as laid down

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

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

2) of the Act for taxing balancing charge versus taxing the same under section 41(1) of the Act and has concluded that section 41(1) of the Act shall not be applicable. 91. As the aspects of bad and doubtful debts is dealt with specifically under section 41(4) of the Act, as laid down

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

36(1)(viia) of the Act does not have any credit balance as on\n01/04/2015, we agree with the submissions of the assessee in claiming the\ndeduction of the entire bad debt written off as an irrecoverable under section\n36(1)(vii) of the Act. Accordingly, the impugned addition made by the AO on\nthis issue is deleted

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

section 14A to Rs.1,45,68,463/- as disallowed by the\nAppellant in Return of Income\n9.\nWithout Prejudice to the above, AO be directed to restrict the disallowance u/s\n14A r.w. Rule 8D (2) (ii) only w.r.t. those investments which have yielded exempt income\nduring the year and exclude those investments which have not yielded exempt income\nduring

KHORAKIWALA HOLDINGS AND INVESTMENTS PVT. LTD.,MUMBAI vs. ASST CIT 14(2(1), MUMBAI

Appeal is dismissed

Bench: Shri Rajesh Kumar & Shri Amarjit Singhassessment Year: 2013-14

68 of the Act. 5. In the appellate proceedings, the Ld. CIT(A), after taking into consideration the contentions and submissions of the assessee, dismissed the ground raised by the assessee by holding and observing as under: “I have considered the facts of the case, submissions made by the appellant, it is seen from the records that "During the year

VODAFONE INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7(3), MUMBAI

In the result, the appeal of the assessee is allowed

Section 68 of the Act. The relevant facts and conclusion as recorded by the Tribunal is as under : “8. Apropos the merits of the additions on account of cash credits /share application money, learned counsel for the assessee contends that soon after its incorporation, the assessee company sought approval of the Foreign Investment Promotion Board (FIPB) for raising share

M/S THE STATE BANK OF PATIALA,PATIALA vs. ACIT, PATIALA

In the result, the appeals of the assessee are partly allowed for In the result, the appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Aby T Varkey () & Shri Om Prakash Kant () Assessment Year: 2013-14 & Assessment Year: 2014-15 & Assessment Year: 2015-16 The State Bank Of India Asst. Cit Circle-Patiala, (Successor To State Bank Of Aayakar Bhavan, Vs. Patiala), Patiala-147001 Dgm & Cfo, Sbi, Local Head Office – Chandigarh, 2Nd Floor, Sector 17A, Chandigarh- 160017. Pan No. Aaccs 0143 D Appellant Respondent Assessee By : Mr. Ketan Ved & Mr. Ninadpatade, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr : Date Of Hearing 09/03/2023 Date Of Pronouncement : 31/03/2023

36(1)(viia) of the Act. This ground of appeal deduction u/s 36(1)(viia) of the Act. This grou deduction u/s 36(1)(viia) of the Act. This grou is, therefore, dismissed. is, therefore, dismissed.” 12. We have heard rival submission of the parties on the issue in We have heard rival submission of the parties on the issue

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

68,58,216 as per assessment order dated February 21, 2018 passed under section 143(3) r.w.s 144C(3) of the Act for AY 2014-15, thus resulting in excess allowance of Rs. 250,03,69,520. 8.3 The deduction u/s 36(1)(viia) being a deduction linked to the total income computed and is subject to revision each

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 to Rs.1,45,68,463/- as disallowed by the\nAppellant in Return of Income\n9.\nWithout Prejudice to the above, AO be directed to restrict the disallowance u/s\n14A r.w. Rule 8D (2) (ii) only w.r.t. those investments which have yielded exempt income\nduring the year and exclude those investments which have not yielded exempt income\nduring

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)

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed.” 9.2. Respectfully following

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)

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed.” 9.2. Respectfully following

ACIT-5(1)(1), MUMBAI vs. M/S. ESSAR SHIPPING LTD., MUMBAI

In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for In the result, the appeal of the Revenue is allowed partly for statisti...

Bench: Shri Om Prakash Kant () & Ms. Kavitha Rajagopal () Assessment Year: 2014-15 Acit Circle 5(1)(1), M/S Essar Shipping Ltd., R. No. 568, Aayakar Bhavan, Essar House, 11, K K Marg, Vs. M.K. Road, Mumbai-400020. Mahalaxmi, Mumbai-400034. Pan No. Aacce 3707 D Appellant Respondent

36. The ‘total income’ is defined in section 2(25) of the Act, which reads as under: Act, which reads as under:- M/s Essar Shipping Ltd. 20 “Total income" means the total amount of income referred “Total income" means the total amount of income referred “Total income" means the total amount of income referred to in section

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

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed.” 21. The learned

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

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed.” 21. The learned

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

In the result, appeal of the Revenue in ITA No

2 to section 36(1)(vii) of the Act. In view of the above, we are of the view that assessee is entitled to deduction under section 36(1)(vii) of the Act being the amount of bad debts written off (other than in respect of rural advances). This issue of assessee appeal is allowed.” 9.2. Respectfully following