Appeals challenging an ITAT order on depreciation and amortized premium were dismissed as questions of law stood conclusively decided against the Revenue in Commissioner of Income Tax Vs. Thane Bharat Sahakari Bank Ltd. (2015).
None, appeals dismissed with no order as to costs.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
1674-14-itxa-C=.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL NO. 1674 OF 2014 WITH INCOME TAX APPEAL NO. 1675 OF 2014 WITH INCOME TAX APPEAL NO. 1698 OF 2014
The Commissioner of Income Tax-III, Pune
.. Appellant
v/s.
The Karad Urban Co-op. Bank Ltd.
.. Respondent
Mr. Tejveer Singh i/b Padma Divakar for the appellant None for the respondent
CORAM : M.S. SANKLECHA & A.K. MENON, J.J.
DATED : 7th MARCH, 2017.
P.C.
1961 (the Act) challenges the common order dated 31st January, 2014 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Years 2007-08, 2008-09 and 2009-10.
in all the three appeals for our consideration :-
1 of 3
Uday S. Jagtap
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and in law, the Tribunal was justified in allowing the claim of the assessee of depreciation on Government Securities shifted from AFS to HTM securities ?
(ii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in allowing a deduction of amortized premium paid by the bank over and above the face value of the HTM securities at the time of acquisition of such Government Securities ?
2 of 3
Uday S. Jagtap
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give rise to any substantial question of law. Thus, not entertained.
costs.
(A.K. MENON, J.) (M.S. SANKLECHA, J.)
3 of 3
Uday S. Jagtap
Colour shows how this judgement treated each authority
Commissioner of Income Tax Vs. Thane Bharat Sahakari Bank Ltd.Followed¶17
Commissioner of Income Tax Vs. Thane Bharat Sahakari Bank Ltd. (Income Tax Appeal No.1117 of 2013)
The Commissioner of Income Tax-III, Pune
The Karad Urban Co-op. Bank Ltd.
M.S. Sanklecha
A.K. Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
