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TMI Blog2023 (10) TMI 1244X X X X Extracts X X X X X X X X Extracts X X X X ..... ct to just exceptions. ITA 521/2023 & CM Nos.47076-77/2023 ITA 522/2023 & CM Nos.47083-84/2023 ITA 524/2023 & CM Nos.47089-90/2023 [Applications filed on behalf of the appellant seeking condonation of delay of 231 days in filing and 85 days in re-filing the appeals] 2. These are the appeals concerning Assessment Year (AY) 2014-15 [ITA No. 521/2023], AY 2015-16 [ITA No. 522/2023] and AY 2013-14 [ITA No. 524/2023]. 3. Via the impugned order dated 04.03.2022, the Income Tax Appellate Tribunal [in short, "Tribunal"] allowed the appeals of the respondent/assessee which were filed not only with respect to the AYs referred to hereinabove, but also with regard to AY 2012-13. 3.1 Simultaneously, cross-appeals filed by the appellant/revenue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e deposits Addition of Rs. 17 crores made by AO deleted by both appellate authorities. Addition of Rs. 14 crores made by AO deleted by both the appellate authorities Addition of Rs. 18 crores made by AO deleted by both the appellate authorities 5. Disallowance under Section 36(1)(vii) Addition of Rs. 1231.56 crores made by AO deleted by both appellate authorities. Addition of Rs. 315 crores made by AO deleted by both the appellate authorities Addition of Rs. 1062.73 crores made by AO deleted by both the appellate authorities First Issue [Addition on account of Section 14A] 5. Insofar as the issue concerning disallowance under Section 14A of the Income Tax Act, 1961 [in short, "Act"] is concerned, the Tribunal, in our view, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur opinion, the Tribunal has correctly deleted the disallowance made under Section 14A as the subject shares were concededly held as stock-in-trade. Second Issue [HTM Securities] 7. The second issue is covered by the decision rendered by a coordinate bench of this court dated 11.05.2016 passed in ITA No .306/2016, titled Principal Commissioner of Income-Tax-07 v. Oriental Bank of Commerce. Thus, having regard to the decision of the coordinate bench, in our view, no substantial question of law arises for our consideration qua this issue. Third Issue [Depreciation on temporary erections] 8. As regards the third issue, i.e., depreciation on temporary erections, the Tribunal has made the following observations: "28. This ground is again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner of Income Tax. 11. Having regard to this decision, no substantial question of law is required to be framed concerning the said issue. Fifth Issue [Disallowance under Section 36(1)(vii) of the Act] 12. This brings us to the last issue, which is disallowance of provision made for bad and doubtful debts. 13. As noted by the Tribunal, this issue is squarely covered in favour of the respondent/assessee by virtue of the judgment rendered by the Supreme Court in Vijaya Bank v. CIT, [2010] 323 ITR 166. 14. Thus, for the foregoing reasons, we are not inclined to entertain the above-captioned appeals. 15. As noted above, no substantial question of law arises qua any of the issues noted above. 16. The ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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