Sagar Gamin Bank (Presently merged with Bangiya Gramin Vikash Bank) Vs. Deputy Commissioner of Income-tax, Circle, Murshidabad

Parties Involved

Facts Summary

The case involves two cross appeals by the assessee and the revenue arising from the order of the Commissioner of Income Tax (Appeals) in Appeal No. 941/CIT(A)-XXXVI/Kol/Cir-MSD/09-10 dated 22.12.2011. The assessment was framed by the Deputy Commissioner of Income Tax, Circle-Murshidabad for the Assessment Year 2002-03. The assessee challenged the order of the Commissioner of Income Tax (Appeals) for not allowing a provision for gratuity paid before filing the return under section 139(1) of the Income-tax Act, 1961. The revenue appealed against the order of the Commissioner of Income Tax (Appeals) for deleting the disallowance of deduction under section 80P of the Act in respect of receipts of interest on non-SLR funds.…

Legal Issues

• 1. Whether the order of the Commissioner of Income Tax (Appeals) in not allowing provision for gratuity paid before filing of return u/s. 139(1) of the Act is arbitrary, unjustified and illegal.
• 2. Whether the order of the Commissioner of Income Tax (Appeals) in deleting the disallowance of deduction u/s. 80P of the Act in respect of receipts of interest on non-SLR funds is erroneous.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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