The CIT, LTU, Bangalore / The JCIT, LTU, Bangalore v. Vijaya Bank
[Citation -2020-LL-0122-95]
| Citation | 2020-LL-0122-95 |
|---|---|
| Appellant Name | The CIT, LTU, Bangalore / The JCIT, LTU, Bangalore |
| Respondent Name | Vijaya Bank |
| Court | HIGH COURT OF KARNATAKA |
| Relevant Act | Income-tax |
| Date of Order | 22/01/2020 |
| Assessment Year | 2007-08 |
| Judgment | View Judgment |
| Keyword Tags | substantial question of law • minimum alternate tax |
| Bot Summary: | K.V. Aravind , learned counsel for the revenue. Sri T Suryanarayana, learned Counsel for the respondent. This appeal, under Section 260-A of the Income Tax Act, 1961 has been filed by the revenue which was admitted by a Bench of this Court vide order dated 28.02.2018 on the following substantial question of law: Whether on the facts and circumstances of the case, ITAT was right in allowing the appeal of the assessee on the ground that the provisions of on the ground that the provisions of minimum alternate tax under Section 115JB of the Income Tax Act, 1961, are not applicable to the assessee-Bank because the assessee was not required to prepare its profit and loss accounts in 3 accordance with the provisions of Part-II and III of Schedule VI to the Companies Act, 1956 2. It is a common ground that the aforesaid substantial question of law is answered by us vide judgment dated 16.01.2020 passed in ITA No.18/2014. In view of the aforesaid submissions, the appeal is disposed of by answering the substantial question framed in this appeal in terms of the judgment dated 16.1.2020 passed in ITA No.18/2014. |