(A.K. Sikri and Rohinton Fali Nariman, JJ.)
The Commnr. of Income Tax, Cochin ______ Appellant
v.
The Dhanalekshmi Bank Ltd. ______________ Respondent
Civil Appeal Nos. 6353-6360 of 2004, decided on April 15, 2015
The Order of the court was delivered by
Order
Penalty of Rs. 10,61,698/- imposed by the Reserve Bank of India for committing violation of provisions of the Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949 was claimed as business expenditure by the respondent-Bank. The aforesaid amount was in respect of the assessment years 1984-85 to 1991-92 i.e. for 8 years.
It is clear from above that the total amount is Rs. 10,00,000/- and odd that too relating to a period of 8 years.
Having regard to the pettiness of this amount, we are not inclined to consider the issue on merits. It is more so when learned counsel for the respondent has pointed out that against a similar kind of judgment passed in Commissioner of Income Tax, Trichur v. Catholic Syrian Bank Ltd. in SLP (C) No. 23889/2003, the same was dismissed by this Court on 04.04.2005.
Leaving the question of law open, the appeals are dismissed.
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