SAURASHTRA GRAMIN BANK MANAGER (F & A), RAJKOT,RAJKOT vs. THE PR. COMMISSIONER OF INCOME TAX-I,, RAJKOT
In the result, the appeal filed by the assessee is allowed
ITA 37/RJT/2022[2017-18]Status: DisposedITAT Rajkot30 Sept 2025AY 2017-18
Bench: Dr. Arjun Lal Saini & Shri Dinesh Mohan Sinhaआयकर अपील सं./Ita No. 37/Rjt/2022 (Assessment Year: 2017-18) (Hybrid Hearing) Saurashtra Gramin Bank Vs. The Pr. Cit-1, Manager (F & A), Rajkot 1St Floor Wing 2, Lic Jeevan Prakash Building, Tagore Road, Rajkot-360001 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aahas2116H (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Appellant: Ms. A.D. Vyas, ARFor Respondent: Shri Sanjay Punglia, CIT-DR
Section 143(3)Section 14ASection 263Section 36(1)(viii)Section 37(1)
section 263 of the Income-tax Act, 1961. 5. The ld.PCIT had noticed the first issue from the assessment records that assessee (M/s Saurashtra Gramin Bank) during the previous year 2016-17
relevant to assessment year (A.Y.) 2017-18, had made provision for an amount of Rs. 20,78,36,400/-, on account of "Investment Depreciation
Reserve" as allowable expenditure
