Bank Of India Vs ACIT

Author
View profile
Last updated: 29 December 2020
Quick Summary
This case involves cross-appeals between the Bank of India and the Assistant Commissioner of Income Tax for the 2015-16 assessment year. The primary issues concern whether income from the bank's foreign branches should be excluded from its Indian taxable income and whether the bank is liable for Minimum Alternate Tax (MAT), including the treatment of foreign branch income and provisions for bad debts in the MAT calculation.

Court :
ITAT Mumbai

Brief :
This set of cross appeals, consisting of an appeal filed by the assessee as also another appeal filed by the Assessing Officer, call into question correctness of the order dated 25th April 2019, in the matter of assessment under section 143(3) of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’], for the assessment year 2015-16.

Citation :
ITA No.: 1767/Mum/2019

Daily Limit Reached

You have reached your daily limit of 2 Free Judgements

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?
  • No Ads
  • WhatsApp Community
  • Daily E-Newsletter
  • Unlimited Judgements Access
  • Profile Visitors
  • Link Social Profiles
  • Featured Job Posts
  • Pro Badge
  • Expert GST Guidance
  • Unlimited Forum Replies
  • Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

 
downloaded 312 times


Guest

Judgement posted by

Guest

View Judgements
Comments


Recent Judgments :

  1. No Fresh Pre-Deposit for GSTAT Appeal When Earlier Deposit Already Covers 20% of Disputed Tax
  2. CESTAT: Service Tax Demand Based Solely on ITR Data Unsustainable; 40% Valuation Applicable to Original Works Contract
  3. CESTAT: Renting Vehicles on Per-Trip Basis Not Taxable as Supply of Tangible Goods
  4. CESTAT Denies Refund of Ocean Freight Service Tax Claim Filed Beyond Limitation
  5. CESTAT Quashes Service Tax Demand Based Merely on Form 26AS; Renting of Residential Hostel Held Non-Taxable
  6. CESTAT: Rajasthan Sales Tax Subsidy under RIPS 2010 Not includible in Excise Assessable Value
  7. CESTAT: Late Payment Charges in the Nature of Interest Not Taxable as Declared Service
  8. CESTAT: Educational Services Exempt Under Section 66D; Extended Period Cannot Be Invoked Without Wilful Suppression
  9. CESTAT: No Service Tax on Royalty under RCM if Mining Lease Was Executed Before 1 April 2016
  10. No pre-deposit required for filing appeal before the GSTAT against penalty-only orders where proceedings commenced prior to October 01 2025

View More Judgments »


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Amar HiroAmar HiroPro Member SANJAY GOSALIASANJAY GOSALIAPro Member PIYUSHBHAIPOPATPIYUSHBHAIPOPATPro Member ASIM ATREY AND ASSOCIATESASIM ATREY AND ASSOCIATESPro Member saravanansaravanan
Subscribe to Pro
Join an elite circle of professionals

Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
30 October 2026
Asst Manager Accounts

Goodwin Pumps India Pvt Ltd

Chengalpattu

CA Inter

View Details
Company
ARTICLESHIP 28 October 2026
Article assistants

Shyam S Gupta and Company

New Delhi

CA Inter

View Details
Company
Featured 07 November 2026
Paid Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 07 November 2026
Article Assisstant

DPV & Associates

Chennai

CA Inter

View Details
Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details