ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE -1, , ELURU vs. THE ELURU CO-OPERATIVE URBAN BANK LIMITED, ELURU
In the result, cross objection filed by the assessee is partly allowed
ITA 384/VIZ/2018[2010-11]Status: DisposedITAT Visakhapatnam11 May 2022AY 2010-11
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.384/Viz/2018 (ननधधारण वषा / Ay:2010-11) Asst. Commissioner Of Income Vs. The Eluru Cooperative Urban Tax, Bank Limited, Circle-1, Eluru. Eluru. Pan: Aaabt 0168 L (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) C.O. No.108/Viz/2019 (In आयकर अऩीऱ सं./ I.T.A. No.384/Viz/2018) (ननधधारण वषा / Ay :2010-11) The Eluru Cooperative Urban Vs. Asst. Commissioner Of Bank Limited, Income Tax, Eluru. Circle-1, Pan: Aaabt 0168 L Eluru. (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri C. Subrahmanyam प्रत्यधथी की ओर से / Respondent By : Sri Spg Mudaliar, Sr. Ar
For Appellant: Sri C. SubrahmanyamFor Respondent: Sri SPG Mudaliar, Sr. AR
Section 143(2)Section 143(3)Section 250(6)Section 36(1)(viia)
65,138
Net Amount in dispute now = Rs. 94,421
10. The Ld. AR conceded that the provision towards standard assets is not liable for deduction under the Income Tax Act, 1961. The Ld. AR also submitted that the Government Securities were held under the category of “Available For Sale” and hence the loss after adjustment of the reserves already
