ASSISTANT COMMISSIONER OF INCOME TAX, CIR.2(1)(1), SURAT vs. THE SURAT DISTRICT CO-OP. BANK LTD., SURAT

In the result, ground No.1& 3 raised by the Revenue is dismissed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Virtual Court) Assistant Commissioner The Surat District Co- Of Income Tax, Operative Bank Ltd. Vs Circle-2(1)(1), 1, Kanpith, Lalgate, Surat. Surat-395003 Pan : Aaaat 2985 Q Appellant / Revenue Respondent / Assessee

depreciation fund is also provision to cover the value of stock-in-trade which is also contingent in nature. We find that Ld. CIT(A) after examining the statutory provision and held that assessee has a rural advance of Rs.159 Crore (rounded) against which the assessee has claimed only Rs.7.16 crores though they are entitled to claim

THE SURAT DISTRICT CO. OP. BANK LTD.,,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2(2),, SURAT

In the result, appeal of assessee for A

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) The Surat District Co- Deputy Commissioner Of Operative Bank Ltd., Income Tax, Vs Kanpith, Lalgate, Circle-2(2), Aayakar Bhavan, Surat-395003 Majura Gate, Pan : Aaaat 2985 Q Surat. Appellant / Revenue Respondent / Assessee

depreciation fund is also provision to cover the value of stock-in-trade which is also contingent in nature. We find that Ld. CIT(A) after examining the statutory provision and held that assessee has a rural advance of Rs.159 Crore (rounded) against which the assessee has claimed only Rs.7.16 crores though they are entitled to claim

THE ASSTT. CIT., CIRCLE - 2(2),, SURAT vs. THE SURAT DISTRICT CO. OPERATIVE BANK LTD.,, SURAT

In the result, appeal of assessee for A

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) The Surat District Co- Deputy Commissioner Of Operative Bank Ltd., Income Tax, Vs Kanpith, Lalgate, Circle-2(2), Aayakar Bhavan, Surat-395003 Majura Gate, Pan : Aaaat 2985 Q Surat. Appellant / Revenue Respondent / Assessee

depreciation fund is also provision to cover the value of stock-in-trade which is also contingent in nature. We find that Ld. CIT(A) after examining the statutory provision and held that assessee has a rural advance of Rs.159 Crore (rounded) against which the assessee has claimed only Rs.7.16 crores though they are entitled to claim

THE ASSTT. CIT., CIRCLE - 2(2),, SURAT vs. THE SURAT DISTRICT CO. OPERATIVE BANK LTD.,, SURAT

In the result, appeal of assessee for A

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) The Surat District Co- Deputy Commissioner Of Operative Bank Ltd., Income Tax, Vs Kanpith, Lalgate, Circle-2(2), Aayakar Bhavan, Surat-395003 Majura Gate, Pan : Aaaat 2985 Q Surat. Appellant / Revenue Respondent / Assessee

depreciation fund is also provision to cover the value of stock-in-trade which is also contingent in nature. We find that Ld. CIT(A) after examining the statutory provision and held that assessee has a rural advance of Rs.159 Crore (rounded) against which the assessee has claimed only Rs.7.16 crores though they are entitled to claim

THE BHARUCH DIST.CENTRAL CO.OP.BANK LTD.,,BHARUCH vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

THE ACIT, CIRCLE-1,, BHARUCH vs. BHARUCH DISTRICT CENTRAL CO. OP. BANK LTD.,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

BHARUCH DISTRICT CENTRAL CO.-OP. BANK LTD.,,BHARUCH vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHAURCH RANGE,, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

THE BHARUCH DIST.CENTRAL CO.OP.BANK LTD.,,BHARUCH vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, BHARUCH

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA, whereas for the provisions for deduction @10% of average advances made by the rural branches, the Explanation (ia) clearly defines rural branches of Schedule and Non-Schedule Banks. The assessee being a Co-operative Bank did not find its place in the Explanation (ia) below section 36(1)(viia) of the Act, rendering the findings

THE DCIT, CIRCLE-2(2),, SURAT vs. THE SURAT DISTRICT CO.OPERATIVE BANK LTD.,, SURAT

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Hearing In Physical Court) Deputy Commissioner Of The Surat District Co- Income Tax Circle-2(2), Room Operative Bank Ltd. Vs No. 309, 3Rd Floor Aayakar Kanpith, Lalgate, Bhavan, Majura Gate, Surat- Surat-395003 395001 Pan : Aaaat 2985 Q Appellant / Revenue Respondent / Assessee

via) of Rs.7.16 crores, bifurcation of which is recorded by Assessing Officer in para 9.1 of assessment order. On show cause notice, the assessee explained that assessee is eligible for claiming deduction @ 10% of aggregate average advance of rural branches of assessee-bank. The assessee-bank has advanced of Rs.158.92 crores. Thus, the assessee is eligible for an amount

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. ASSTT. COMMISSIONER OF INCOME TAX,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA of the Act. The assessee also filed objection against the reopening, the objection of assessee was rejected in a speaking order passed on 31/12/2012. Thereafter the Assessing officer after serving statutory notices proceeded for reassessment. The Assessing Officer while passing the assessment order, disallowed the deduction under Section 80IA of the Act of Rs. 1.18 crores, provision of sludge

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. ASSTT. COMMISSIONER OF INCOME TAX., BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA of the Act. The assessee also filed objection against the reopening, the objection of assessee was rejected in a speaking order passed on 31/12/2012. Thereafter the Assessing officer after serving statutory notices proceeded for reassessment. The Assessing Officer while passing the assessment order, disallowed the deduction under Section 80IA of the Act of Rs. 1.18 crores, provision of sludge

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA of the Act. The assessee also filed objection against the reopening, the objection of assessee was rejected in a speaking order passed on 31/12/2012. Thereafter the Assessing officer after serving statutory notices proceeded for reassessment. The Assessing Officer while passing the assessment order, disallowed the deduction under Section 80IA of the Act of Rs. 1.18 crores, provision of sludge

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-2,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA of the Act. The assessee also filed objection against the reopening, the objection of assessee was rejected in a speaking order passed on 31/12/2012. Thereafter the Assessing officer after serving statutory notices proceeded for reassessment. The Assessing Officer while passing the assessment order, disallowed the deduction under Section 80IA of the Act of Rs. 1.18 crores, provision of sludge

ENVIRO TECHNOLOGY LTD.,,ANKLESHWAR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE-2,, BHARUCH

In the result, appeal of the assessee is allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

VIA of the Act. The assessee also filed objection against the reopening, the objection of assessee was rejected in a speaking order passed on 31/12/2012. Thereafter the Assessing officer after serving statutory notices proceeded for reassessment. The Assessing Officer while passing the assessment order, disallowed the deduction under Section 80IA of the Act of Rs. 1.18 crores, provision of sludge