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the Income Tax Act, 1961. The Bank has preferred appeal against the said order before
the Ld. CIT(A). The Bank has received partly favorable order from the Ld. CIT(A). The
appeal Effect of the CIT(A) order is pending by the Income Tax department. The Bank
has further made an appeal before the Hon’ble ITAT. The ITAT appeal is still pending
for hearing.
For AY. 2016-17, the assessing officer made an addition of Rs. 26,65,640/- and created
NIL demand after adjusting the refund of the relevant assessment year in order passed
u/s 143(3) of the Income Tax Act, 1961. The Bank has preferred appeal against the said
order before the Ld. CIT(A). Ld. CIT(A) has passed an order in favour of the Bank. The
Bank has not received any further communication/information on whether the Income
Tax Department has filed further appeal or not. The Appeal Effect of the CIT(A) order is
pending by the Income tax department.
For assessment years (AYs) 2017-18 and AY 2018-19, no disallowances were made by AO
u/s 143(2) in the scrutiny assessment. However, some mistakes have been made by the
Ld. AO and some disallowances are made by CPC Bangalore u/s 143(1) of the Income
Tax Act, 1961. The Bank had filed an appeal against the said orders before CIT(A). The
status of the said appeals is as under:
For AY 2017-18 the assessment was passed at NIL u/s 143(2),however, on account of
non-payment of PF of employee contribution on Time and added a sum of Rs. 14,89,361
u/s 36(1)(va) of the Act. Demand of Rs. 5,15,438/- has been raised u/s 143(1). The same
is not paid as the assessing officer has issued refund as per ITR u/s 143(3) without
considering the aforesaid demand. The Appealis pending for hearing before the Ld.
CIT(A).
For AY 2018-19 the assessment was passed at NIL u/s 143(2), however, on the basis of
clerical error in form 3CB on the two instances in the due date and actual payment date
of PF of employee contribution added a sum of Rs. 9,37,883/- u/s 36(1)(va) of the Act.
Further, the Ld. AOhas erred in reducing the interest on Income tax refund u/s 244A of
the Income Tax Act to the extent of Rs. 1,22,79,549/-. The Income Tax Department has
issued refund after adjusting the demand of Rs. 3,25,900/-.The appealis pending for
hearing before the Ld. CIT(A).
The Bank has paid taxes due and showed the said amount as advance tax in the books.
The management does not consider it necessary to make any provision in this regard.
308 | Annual Report 2020-21
the Ld. CIT(A). The Bank has received partly favorable order from the Ld. CIT(A). The
appeal Effect of the CIT(A) order is pending by the Income Tax department. The Bank
has further made an appeal before the Hon’ble ITAT. The ITAT appeal is still pending
for hearing.
For AY. 2016-17, the assessing officer made an addition of Rs. 26,65,640/- and created
NIL demand after adjusting the refund of the relevant assessment year in order passed
u/s 143(3) of the Income Tax Act, 1961. The Bank has preferred appeal against the said
order before the Ld. CIT(A). Ld. CIT(A) has passed an order in favour of the Bank. The
Bank has not received any further communication/information on whether the Income
Tax Department has filed further appeal or not. The Appeal Effect of the CIT(A) order is
pending by the Income tax department.
For assessment years (AYs) 2017-18 and AY 2018-19, no disallowances were made by AO
u/s 143(2) in the scrutiny assessment. However, some mistakes have been made by the
Ld. AO and some disallowances are made by CPC Bangalore u/s 143(1) of the Income
Tax Act, 1961. The Bank had filed an appeal against the said orders before CIT(A). The
status of the said appeals is as under:
For AY 2017-18 the assessment was passed at NIL u/s 143(2),however, on account of
non-payment of PF of employee contribution on Time and added a sum of Rs. 14,89,361
u/s 36(1)(va) of the Act. Demand of Rs. 5,15,438/- has been raised u/s 143(1). The same
is not paid as the assessing officer has issued refund as per ITR u/s 143(3) without
considering the aforesaid demand. The Appealis pending for hearing before the Ld.
CIT(A).
For AY 2018-19 the assessment was passed at NIL u/s 143(2), however, on the basis of
clerical error in form 3CB on the two instances in the due date and actual payment date
of PF of employee contribution added a sum of Rs. 9,37,883/- u/s 36(1)(va) of the Act.
Further, the Ld. AOhas erred in reducing the interest on Income tax refund u/s 244A of
the Income Tax Act to the extent of Rs. 1,22,79,549/-. The Income Tax Department has
issued refund after adjusting the demand of Rs. 3,25,900/-.The appealis pending for
hearing before the Ld. CIT(A).
The Bank has paid taxes due and showed the said amount as advance tax in the books.
The management does not consider it necessary to make any provision in this regard.
308 | Annual Report 2020-21
