9911796707
TMI Blog2020 (11) TMI 743X X X X Extracts X X X X X X X X Extracts X X X X ..... 0-11 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-3, Mumbai in appeal No.CIT(A)-3/IT-10587/2017-18 dated 15/02/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 28/12/2017 by the ld. Asst. Commissioner of Income Tax-1(3)(2), Mumbai (hereinafter referred to as ld. AO). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2017. The assessee responded that return already filed may be treated as a return filed in response to notice u/s 148 of the Act. In the re-assessment proceedings, we find that the ld AO had sought to examine the allowability of claim of deduction of exgratia amounting to Rs. 1,62,32,961/- . We find that the ld AO observed that Form 3CD filed by the assessee did not contain any details of such ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tors of the asessee bank at its Board meeting held on 26.5.2009, wherein resolution was passed to the effect of recommending payment for exgratia to employees. Pursuant to such approval, the exgratia payment becomes due to the employees and the said amount was credited to 'Provision for Ex-gratia Payment Account' in the books of accounts of assessee bank for the year ending 31.3.2010. We find that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was upheld by this tribunal for the Asst Year 2007-08 in assessee's own case vide order dated 4.6.2014 which had been subsequently upheld by the Hon'ble Jurisdictional High Court vide its order in ITA No. 271 of 2015 dated 25.7.2017. We also find that this tribunal in assessee's own case for the Asst Year 2014-15 in ITA No. 4927/Mum/2017 dated 5.12.2018 had allowed the similar claim of the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
