The Income Tax Officer - Appellant(S v. Sardar Bhiladwala Pardi Peoples' Co-Op. Bank Ltd. - Opponent(S
High Court
16 Aug 2005 In favour of: Assessee
Forum / Bench
High Court · gujarathc
Parties
The Income Tax Officer - Appellant(S v. Sardar Bhiladwala Pardi Peoples' Co-Op. Bank Ltd. - Opponent(S
Date of order
16 Aug 2005
Assessment year(s)
—
Outcome
Dismissed
Case summary
In The Income Tax Officer - Appellant(S v. Sardar Bhiladwala Pardi Peoples' Co-Op. Bank Ltd. - Opponent(S, the High Court (2005) dismissed the appeal. The decision went in favour of the assessee.
Issue: 5[Whether it is to be circulated to the civil judge ]? ============================================================== THE INCOME TAX OFFICER - Appellant(s) Versus SARDAR BHILADWALA PARDI PEOPLES' CO-OP.
Decision: The tax appeals are, accordingly, dismissed.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
Sections referenced in this judgment
The order — as passed by the High Court
TAXAP/286/2003
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 286 of 2003To
TAX APPEAL No. 303 of 2003
For Approval and Signature:
HONOURABLE MR.JUSTICE D.A.MEHTA
HONOURABLE MS.JUSTICE H.N.DEVANI
============================================================== 1[Whether Reporters of Local Papers may be allowed ]to see the judgment ?
2To be referred to the Reporter or not ?
3[Whether their Lordships wish to see the fair copy ]of the judgment ?
Whether this case involves a substantial question of law as to the interpretation of the 4constitution of India, 1950 or any order made thereunder ?
5[Whether it is to be circulated to the civil judge ]?
==============================================================
THE INCOME TAX OFFICER - Appellant(s)
Versus
SARDAR BHILADWALA PARDI PEOPLES' CO-OP. BANK LTD. - Opponent(s)
==============================================================
Appearance :
MR BB NAIKfor Appellant No(s).: 1.MR SN SOPARKAR, SENIOR ADVOCATE FOR MS SWATI SOPARKARfor Respondent No(s).: 1.
==================================================================
CORAM :HONOURABLE MR.JUSTICE D.A.MEHTA
and
HONOURABLE MS.JUSTICE H.N.DEVANI
Date : 16/08/2005
COMMON JUDGMENT
(Per : HONOURABLE MS.JUSTICE H.N.DEVANI)
1Heard Mr.B.B.Naik, learned Standing Counsel for the appellant - Revenue and Mr.S.N.Soparkar,learned Senior Advocate, for the respondent- assessee.
2It is an accepted position that the controversy raised by the question framed at the time of admission stands concluded by a decision of this Court rendered in Tax Appeal No.208 of 2003 and cognate matters on 29.07.2005, 01.08.2005 and 09.08.2005 in the case of Commissioner of Income Tax-tax Vs. The Baroda Peoples Co-operative Bank Limited.
3Therefore, it is held that the Tribunal was justified in law in allowing deduction under Section 80P(2)(a)(i) of the Income-tax Act, 1961 on interest income as being attributable to the business of banking. The question is, accordingly, answered in the affirmative. The tax appeals are, accordingly, dismissed. There shall be no order as to costs.
4Registry to place copy of this order in all connected matters.
(D.A.Mehta, J)(H.N.Devani, J)
m.m.bhatt
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