TMI Blog2019 (7) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax Vs. Deogiri Nagari Sahakari Bank Ltd. [ 2015 (1) TMI 1218 - BOMBAY HIGH COURT] held that Co-operative Banks are eligible for deduction u/s. 43D in respect of interest on sticky advances/Non Performing Assets. The aforesaid law has been reiterated in the case of Principal Commissioner of Income Tax Vs. Solapur District Central Co-op. Bank Ltd. [ 2019 (2) TMI 238 - BOMBAY HIGH COURT] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - - - Dated:- 10-7-2019 - Shri Anil Chaturvedi, AM And Shri Vikas Awasthy, JM For the Assessee : Shri Kishor Phadke For the Revenue : Shri N. Ashok Babu ORDER PER VIKAS AWASTHY, JM : This appeal by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-13, Pune dated 23-11-2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entral Co-op. Bank Ltd. reported as 261 Taxman 476 (Bom). The ld. AR submitted that the Commissioner of Income Tax (Appeals) has decided this issue in favour of assessee by following various decisions of Hon ble Bombay High Court including the decision rendered in the case of Commissioner of Income Tax Vs. Deogiri Nagari Sahakari Bank Ltd. (supra). 3.1 In respect of ground No. 4 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icer in making the impugned additions/disallowances. The ld. DR prayed for reversing the findings of Commissioner of Income Tax (Appeals). 5. Both sides heard. Orders of the authorities below perused. The issue raised in the appeal by the Revenue against deleting of interest of sticky loans has been laid to rest by Hon ble Jurisdictional High Court in the case of Commissioner of Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court in the case of Cheminvest Limited Vs. Commissioner of Income Tax (supra) has held that no disallowance u/s. 14A is to be made in the absence of any exempt income. The Commissioner of Income Tax (Appeals) has decided the issue in line with the judgment of Hon ble High Court. We find no reason to interfere with the findings of Commissioner of Income Tax (Appeals) on this issue. Accordingly ..... X X X X Extracts X X X X X X X X Extracts X X X X
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