TMI Blog2021 (11) TMI 1131X X X X Extracts X X X X X X X X Extracts X X X X ..... IGH COURT] wherein the order of disallowing depreciation of asset had been answered in favour of the assessee. MAT applicability u/s 115JB on banking companies - HELD THAT:- Substantial question of law which has been admitted by this Court as aforesaid, the Co-ordinate Bench of this Court in M/s.ING Vysaya Bank Limited[ 2020 (1) TMI 1116 - KARNATAKA HIGH COURT] has categorically held that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed in ITA No.843/Bang/2017 relating to the Assessment Year 2012-13. 2. The appeal was admitted by this Court to consider the following substantial question of law. Whether on the facts and in the circumstances of the case, the Tribunal is right in law in setting aside that the provisions of Section 115JB are not applicable to banking companies as no account are drawn up as per the require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of fall in value of securities held by assessee bank should be allowed as deduction and therefore the income arising therefrom should also be treated as business income ignoring Sec 45(2) which requires investments are to be treated as Stock in Trade? 4. As regards substantial question of law No.1 raised by the revenue, the issue is no more res integra in view of the ruling of this Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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