2024 (3) TMI 1386

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... along with Ms. Easha Kadian and Ms. Hemlata Rawat, JSCs., Mr. Puneet Rai, SSC. For the Respondent : Mr. S. Krishnan, Adv. ORDER 1. These two appeals by the Revenue seek to impugn the orders of the Income Tax Appellate Tribunal ['ITAT'] dated 16 March 2018 [ITA 960/2018] and 13 April 2022 [ITA 540/2023]. From the questions which have been posited, we find the following question to be comm....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e findings given by the AO in the assessment order. It is a fact that the Pension Trust Fund of the assessee Bank is an approved fund. The assessee Bank had already remitted the amount to the Trust which is covered by the provisions of section 43B of the Income Tax Act. The amount of contribution has increased rapidly due to implementation of mandatory Accounting Standard 15, upward revision of sa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of Section 43B of the Act would stand satisfied. 4. In view of the aforesaid, we find no ground to interfere with the view as expressed by the ITAT. 5. Insofar as the other questions in ITA 960/2018 are concerned, we note that they relate to various disallowances and deletions, which are concluded by findings of fact as noted by the ITAT. In any view, they do not appear to raise any substan....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... caused to that investment cannot be set off. We are of the considered opinion that the said question would merit consideration. 9. Further, having heard the submission addressed by Mr. Rai, learned counsel appearing in support of the appeal, we also find that proposed Question No. ii raises substantial issues which would merit consideration. The appeal shall consequently stand admitted on the ....