Bank Of India 2018 19 vs Assistant Commissioner Of Income Tax ...

ik-192227291 Bombay High Court 2 December 2024 • WRIT PETITION NO. 4946 OF 2024 • 29 min read

Judges (2)

Advait M. Sethna Coram G.S. Kulkarni Delivered

Counsel (5)

Atul K. Jasani Counsel Petitioner Jeet Kamdar Counsel Petitioner P.J. Pardiwalla Counsel Petitioner Prasanna Pawar Counsel Respondent Samiksha Kanani Counsel Respondent

Parties (4)

Assistant Commissioner of Income Tax, Circle 2(1)(1), Mumbai Respondent Bank of India Petitioner Chief Commissioner of Income Tax, Mumbai-1 Respondent Union of India Respondent

Case Significance

Bank Of India 2018 19 vs Assistant Commissioner Of Income Tax ... is a Bombay High Court decision dated December 2, 2024 (citation: ik-192227291). Bank of India challenged reassessment proceedings initiated by the Assessing Officer for AY 2018-19 regarding deduction of provision for bad and doubtful debts under Section 36(1)(viia), which was directly contrary to the binding decision of the Bombay High Court subsequently confirmed by the Supreme Court in Bank of Rajasthan. The Court deprecated the Assessing Officer's action as a violation of judicial discipline and directed that the order be circulated to all jurisdictional officers and The bench comprised Justices Advait M. Sethna and G.S. Kulkarni. The judgment was delivered by Justice G.S. Kulkarni. Counsel appearing: Atul K. Jasani (counsel for petitioner), Jeet Kamdar (counsel for petitioner), P.J. Pardiwalla (counsel for petitioner), Prasanna Pawar (counsel for respondent), Samiksha Kanani (counsel for respondent).

Summary

Bank of India challenged reassessment proceedings initiated by the Assessing Officer for AY 2018-19 regarding deduction of provision for bad and doubtful debts under Section 36(1)(viia), which was directly contrary to the binding decision of the Bombay High Court subsequently confirmed by the Supreme Court in Bank of Rajasthan. The Court deprecated the Assessing Officer's action as a violation of judicial discipline and directed that the order be circulated to all jurisdictional officers and CBDT. The petition was allowed and the impugned reassessment proceedings were quashed.

What was the outcome of Bank Of India 2018 19 vs Assistant Commissioner Of Income Tax ...?

Bank of India challenged reassessment proceedings initiated by the Assessing Officer for AY 2018-19 regarding deduction of provision for bad and doubtful debts under Section 36(1)(viia), which was dir...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (ik-192227291)