Commissioner of Income-tax v. Dhanalakshmi Bank Ltd
[Citation -2015-LL-0415-2]

Citation 2015-LL-0415-2
Appellant Name Commissioner of Income-tax
Respondent Name Dhanalakshmi Bank Ltd.
Relevant Act Income-tax
Date of Order 15/04/2015
Assessment Year 1984-85
Judgment View Judgment
Keyword Tags banking regulation act • business expenditure • reserve bank

JUDGMENT Order Penalty of Rs. 10,61,698 imposed by Reserve Bank of India for committing violation of provisions of Reserve Bank of India Act, 1934, and Banking Regulation Act, 1949, was claimed as business expenditure by respondent-bank. aforesaid amount was in respect of assessment years 1984-85 to 1991-92, i.e., for 8 years. It is clear from above that total amount is Rs. 10,00,000 and odd that too relating to period of 8 years. Having regard to pettiness of this amount, we are not inclined to consider issue on merits. It is more so when learned counsel for respondent has pointed out that against similar kind of judgment passed in CIT v. Catholic Syrian Bank Ltd. in SLP (C) No. 23889 of 2003, same was dismissed by this court on April 4, 2005. Leaving question of law open, appeals are dismissed. *** Commissioner of Income-tax v. Dhanalakshmi Bank Ltd
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