CIT Vs. M/S JAIPUR THAR GRAMIN BANK

JUDGEMENT

(1.) These three appeals under Section 260A of the Income Tax Act, 1961, are directed against the orders passed by the Income Tax Appellate Tribunal. It relates to assessment years 2007-08, 2008-09 and 2009-10, and since identical question had been raised, all the three appeals are being decided by this common order.

(2.) The only question raised by the Revenue is about the claim allowed of the Gratuity Scheme created by the assessee and allowed under Section 36(1)(v) of the Income Tax Act, 1961.

(3.) Brief facts noticed are that the respondent-assessee Bank is a cooperative society doing banking business and prior to that was assessed as Jaipur Nagaur Anchalik Gramin Bank (sponsored by UCO Bank - a Govt. of India Undertaking).