COMMNR. OF INCOME TAX, BOMBAY vs CITI BANK N.A. — C.A. No. 1524/2006
Case under Section III. Status: Disposed.
CNR: SCIN010034312004
Filing Date
13-Feb-2004
Registration No
C.A. No. 1524/2006
Diary Number
3431/2004
Order Date
12-Aug-2008
Document Type
ROP - of Main Case
Disposal Type
Dismissed
Last updated 16-Jun-2026
Acts & Sections
Petitioner(s)
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1.COMMNR. OF INCOME TAX, BOMBAY
Respondent(s)
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1.CITI BANK N.A.
Adv. RUSTOM B. HATHIKHANAWALA
Case History
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Case disposedDisposed
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12-Aug-2008
ROP - of Main CaseView PDF
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28-Jul-2008
ROP - of Main CaseView PDF
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15-Jul-2008
ROP - of Main CaseView PDF
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22-Apr-2008
ROP - of Main CaseView PDF
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22-Apr-2008
ROP - of Main CaseView PDF
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21-Apr-2008
ROP - of Main CaseView PDF
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11-Mar-2008
ROP - of Main CaseView PDF
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03-Mar-2006
ROP - of Main CaseView PDF
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27-Feb-2006
ROP - of Main CaseView PDF
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27-Feb-2006
ROP - of Main CaseView PDF
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20-Feb-2006
ROP - of Main CaseView PDF
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05-Apr-2004
ROP - of Main CaseView PDF
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13-Feb-2004
Case filed
Registration No. C.A. No. 1524/2006
Case Summary: C.A. No. 001524/2006 Commissioner of Income Tax, Bombay v. Citi Bank N.A. On August 12, 2008, the Supreme Court dismissed the main appeal (C.A. 1524/2006) along with 10 other related appeals against Citi Bank N.A., deciding tax treatment issues favoring the bank. The court affirmed High Court rulings that interest earned by the bank on sale of securities is taxable as "Income from Business" rather than "Interest on Securities," and that expense deductions under Section 20(1)(i) are not subject to Section 40A(5) restrictions. Several related appeals were adjourned for further hearing on August 26, 2008. This case analysis is maintained by casestatus.in based on publicly available court records.
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