Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 475 - KARNATAKA HIGH COURTDepreciation on valuation of investment portfolio - treating the investments held by the assessee bank as stock-in-trade once the RBI Master Circular read with CBDT Circular No.665 came into force - Held that:- This Court in the case of KARNATAKA BANK LIMITED VS. ASSISTANT COMMISSIONER OF INCOME TAX (2013 (7) TMI 656 - KARNATAKA HIGH COURT), wherein the very same questions of law were answered in favour of the assessee and against the revenue. Addition representing expenditure relating to earning of exempt income u/s 14A(1) - Held that:- Issue covered by the judgment of this Court in the case of COMMISSIONER OF INCOME TAX vs. KARNATAKA BANK LIMITED [2014 (11) TMI 179 - KARNATAKA HIGH COURT] wherein the very same question of law was answered in favour of the assessee and against the revenue Addition representing excess claim of bad debts written off under Section-36(1)(vii) exceeding the credit balance of the provision made u/s 36(1)(viia) - Held that:- Issue covered by the judgment of this Court in the case of COMMISSIONER OF INCOME TAX vs. KARNATAKA BANK LIMITED [2014 (11) TMI 1192 - KARNATAKA HIGH COURT] in favour of assessee.
|