MAT Not Applicable as Bank Not Formed Under Companies Act: ITAT Kolkata

UCO Bank Vs ACIT (ITAT Kolkata) Leave Encashment Allowed Only on Payment Basis as Tribunal Follows Supreme Court Ruling; MAT Additions Deleted Due to Inapplicability of Section 115JB to Statutory Banks; Disallowance for Short TDS Rejected as Covered by Jurisdictional High Court Decision; No Disallowance Under Section 14A Where Own Funds Exceed Investments. The matter involved cross appeals against the order dated 12.12.2017 passed by the Commissioner of Income-tax (Appeals)-23, Kolkata for Assessment Year 2013–14. On the issue of leave encashment, the Assessing Officer disallowed provisio...