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St. Bank of Ptiala, Patiala v. Comm. of Income Tax, Patiala & Anr.

Punjab & Haryana HC19 Dec 2025ITA/954/2008

Case brief

AI extract

What is this about?

Punjab & Haryana High Court allows State Bank of Patiala's Section 260A appeal (ITA-954-2008 O&M) against Commission of Income Tax, Patiala for AY 1995-96; impugned ITAT Chandigarh Bench order dated 06.06.2008 on disallowance of balance outstanding over three years in inter-bank/inter-branch unreconciled entries set aside; issue pre-settled in assessee's favour by Tribunal order dated 28.03.2016 in ITA-391-2011 with no appeal filed and Revenue unable to controvert; appeal allowed 19.12.2025; decided by Jagmohan Bansal and Amarinder Singh Grewal, JJ.

What did the court decide?

Setting aside of the impugned Tribunal order dated 06.06.2008; pending application(s), if any, disposed of. ¶20

St. Bank of Ptiala, Patiala Vs Comm. of Income Tax… — Income Tax | Punjab & Haryana HC (2025)

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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH

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201-1 ITA-954-2008 (O&M) Date of Decision: 19.12.2025

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STATE BANK OF PATIALA, PATIALA ...Appellant

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Vs.

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COMMISSION OF INCOME TAX, PATIALA & ANR. …Respondents

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CORAM:- HON'BLE MR. JUSTICE JAGMOHAN BANSAL HON'BLE MR. JUSTICE AMARINDER SINGH GREWAL

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Present:Mr. Sanjay Bansal, Sr. Advocate with Mr. Gurdeep Singh, Advocate Mr. Sushrut Singla, Advocate and Mr. Iman Singla, Advocate for appellant-State Bank of Patiala

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Mr. Saurabh Kapoor, Sr. Standing Counsel (through V.C.) with Mr. Rana Gurtej Singh, Jr. Standing Counsel and Ms. Muskaan Gupta, Advocate for respondent-Income Tax Department

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JAGMOHAN BANSAL, J. (ORAL)

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The appellant through instant appeal under Section 260A of Income Tax Act, 1961 is seeking setting aside of order dated 06.06.2008 passed by Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short ‘Tribunal’) for the Assessment Year 1995-96. 2. Learned counsel for the parties are ad idem that only one issue is involved namely disallowance of balance outstanding for more than three years in respect of inter-bank/inter-branch unreconciled entries.

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Learned Sr. Advocate for the appellant submits that Tribunal vide order dated 28.03.2016 passed in ITA-391-2011 has settled the issue in favour of assessee. The money lying with Bank with respect to unreconciled

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DEEPAK BISSYAN 2025.12.22 10:07 I attest to the accuracy and integrity of this document

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ITA-954-2008 (O&M)

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inter-bank/inter-branch entries does not belong to Bank. This is customer’s money and in case of being unclaimed is transferred to Reserve Bank of India.

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Learned counsel for the respondent-Revenue expressed his inability to controvert that issue involved herein stands adjudicated in favour of assessee by Tribunal. No appeal against order passed by Tribunal has been filed.

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