{"id":51662,"date":"2025-03-04T10:58:25","date_gmt":"2025-03-04T05:28:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-citi-bank-n-a-no-3-2024469-itr-403-sc-editorial-cit-v-citi-bank-n-a-itr-no-191-of-1997-dt-10-4-2003bomhc-cit-v-citi-bank-n-a-no-4-2024469-itr-410-sc-editorial-cit\/"},"modified":"2025-03-04T10:58:25","modified_gmt":"2025-03-04T05:28:25","slug":"cit-v-citi-bank-n-a-no-3-2024469-itr-403-sc-editorial-cit-v-citi-bank-n-a-itr-no-191-of-1997-dt-10-4-2003bomhc-cit-v-citi-bank-n-a-no-4-2024469-itr-410-sc-editorial-cit","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-citi-bank-n-a-no-3-2024469-itr-403-sc-editorial-cit-v-citi-bank-n-a-itr-no-191-of-1997-dt-10-4-2003bomhc-cit-v-citi-bank-n-a-no-4-2024469-itr-410-sc-editorial-cit\/","title":{"rendered":"CIT v. Citi Bank N. A. (NO. 3) (2024)469 ITR 403 (SC) Editorial : CIT v. Citi Bank N. A ITR No. 191 of 1997 dt. 10-4-2003(Bom)(HC) CIT v. Citi Bank N. A. (No. 4) (2024)469 ITR 410 (SC) Editorial : CIT v. Citi Bank N. A (ITR No. 349 of 1995 dt. 5-3 2003 (Bom)(HC) CIT v. Citi Bank N. A. (No. 5) (2024)469 ITR 414 (SC) Editorial : CIT v. Citi Bank N. A. (ITA.No. 426 of 1998 dt. 10-4-2003 CIT v. Citi Bank N. A. (No. 6) (2024)469 ITR 416 (SC) Editorial : CIT v.Citi Bank N. A (ITA No. 1 of 1988 dt. 5-3-2003, ITR No. 232 of 1996 dt. 22-7-2003) CIT v. Citi Bank N. A. (No. 7) (2024)469 ITR 417 (SC) Editorial: CIT v. Citi Bank N. A (ITR.No. 265 of 1997 dt. 10-4-2003) CIT v. Citi Bank N. A. (No. 7) (2024)469 ITR 417 (SC) Editorial: CIT v. Citi Bank N. A (ITR.No. 265 of 1997 dt. 10-4-2003)"},"content":{"rendered":"<p>Held that apportioning the deductible expenditure under section\u00a020(1)(i), under the head Interest on securities in the case of banking companies, expenses admissible under sections\u00a030,\u00a031,\u00a036\u00a0and\u00a037\u00a0are not subject to restrictions imposed under sections\u00a040A(3),\u00a040A(5)\u00a0and\u00a044C\u00a0of the Income-tax Act, 1961. \u00a0CIT v. Citi Bank N. A. (NO. 2) (2024) 469 ITR 398 (SC). (AY.1985-86, 1986-87) <em>(<\/em>AY.1983-84, 1984-85, 1987-88)<em> (<\/em>AY.1983-84, 1984-85, 1987-88)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 28(i) : Business income-Interest on securities-Business income-Business expenditure-Salaries and perquisites-Disallowance is  to be restricted to expenditure apportioned under profits and gains of business or profession and not  under head interest on  securities.  [S. 18, 20(1(i),  36, 37(1), 40A(5),44C, Art. 136]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51662","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-drg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51662"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51662\/revisions"}],"predecessor-version":[{"id":51663,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51662\/revisions\/51663"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}