2017 (9) TMI 1528

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.... For the Respondent : Mr. Salil Kapoor with Mr. Sumit Lalchandani and Ms. Ananya Kapoor and Ms. Soumya Singh, Advocates ORDER C.M. No. 31677/2017 (exemption) 1. Allowed, subject to all just exceptions. C.M. No. 31676/2017 (delay) 2. For the reasons stated therein, the delay in filing the appeal is condoned. 3. The application is disposed of. ITA No. 737/2017 4. There are....

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....case Ld. ITAT was correct in law in deleting the addition of Rs. 38,02,52,097 made by the AO on account of contribution made by the Assessee to Punjab & Sind Bank Employees Pensions Fund Trust? D. Whether on facts and in the circumstances of the case Ld. ITAT was correct in law in deleting the additions to the Assessee's book profit computed u1s l l5JB of the Income Tax Act. 1961 on followi....

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....njab and Sind Bank v. Commissioner of Income Tax) for the AY 1996-97. Consequently, the Court declines to frame any question on this issue. 6. The second issue, concerning the deletion of addition made by the AO on account of disallowance of depreciation on securities including loss on shifting of securities from AFS to HTM category, also stands covered against the Revenue by the aforementioned....

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....mited (1991) 189 ITR 309 (Bom). The Bombay High Court has, in its three orders, consistently held that, although contributions to the pension funds may not be allowable under Section 36 (1) (iv) of the Act, the same is allowable under Section 37 of the Act. 8. Learned counsel for the Revenue has been unable to point out to the Court any view contrary to the one taken by the Bombay High Court. ....