Bank of baroda

BANK OF BARODA
The Bank filed an appeal against the said assessment orders before the Commissioner of Income Tax (Appeals)
XXXII, Mumbai and the Commissioner by order dated May 20, 2003 partly allowed the appeal. By rectification order
dated September 24, 2003 The Commissioner of Income Tax (Appeals) XXXII, Mumbai modified the relief allowed
to the Bank. The Bank has filed an appeal on July 25, 2003 before the Income Tax Appellate Tribunal, Mumbai
against the order dated May 20, 2003. The appeal is still pending and the total disputed amount is Rs. 263,024,000.
The Deputy Commissioner of Income Tax, Circle-2(1), Mumbai has filed an appeal before the Income Tax Appellate
Tribunal, Mumbai against the abovementioned order dated May 20, 2003 of Commissioner of Income Tax (Appeals)
XXXII, Mumbai to the extent that the said order deleted the disallowances in relation to broken period interest on
purchase of securities, club expenses, fine paid to RBI and bad debts disallowed in the past. The appeal is still
pending and the total disputed amount is Rs. 2020,976,115.
5.
The Deputy Commissioner of Income Tax, Circle-2(1), Mumbai re-opened the original assessment for the assessment
year 1999-2000 and by order dated January 11, 2005 disallowed the bad debt written off. The Bank has filed an
appeal on February 23, 2005 before the Commissioner of Income Tax (Appeals), II, Mumbai against the said
assessment order. The appeal is still pending and the total disputed amount is Rs. 3224,460,000.
6.
The Bank had preferred an appeal before the Commissioner of Income Tax (Appeals) XXXII, Mumbai against the
assessment order for the assessment year 1999-2000. The Commissioner of Income Tax (Appeals) XXXII, Mumbai,
by order dated March 21, 2003, has deleted/modified the disallowance, by the assessing officer, of the following
deductions claimed by the Bank:
Broken period interest on purchase of securities
Club expenses
Proportionate expenses in earning exempted income
Penalties and fine paid to RBI.
Depreciation on investments
Depreciation out of fluctuation reserve
Bad debts disallowed in the past
The Income Tax Department has filed an appeal before the Income Tax Appellate Tribunal, Mumbai, against the
said order dated March 21, 2003. The total disputed amount is Rs. 3255,400,000.
7.
The Deputy Commissioner of Income Tax, Circle-2(1), Mumbai re-opened the original assessment for the assessment
year 1998-1999 and by order dated January 9, 2004 disallowed the bad debt written off. The Bank has filed an
appeal on March 1, 2004 before the Commissioner of Income Tax (Appeals) II, Mumbai against the said assessment
order. The total disputed amount is Rs. 3784,546,000. The appeal has been heard and the order is awaited.
8.
The disallowance of the following deductions by the Income Tax Department in its assessment orders for the
assessment year 1995-1996 has been confirmed by the Commissioner of Income Tax (Appeals) XLIV, Mumbai by
order dated March 23, 1999;
Disallowance of provisions made for bad and doubtful debts at foreign branches
Disallowance of bad debts under section 36(i)(vii) of the IT Act
Disallowance of provisions made for bad and doubtful debts in earlier years in the books of the bank credited
to profit and loss account
Disallowance of club expenses (foreign)
The Bank has filed an appeal before the Income Tax Appellate Tribunal, Mumbai against the order dated March 23,
1999. Since the requisite approval of the Committee on Disputes (COD) constituted in the Cabinet Secretariat of the
Central Government was not obtained, by order dated October 7, 2004 the appeal was recorded 
in limine
as not
admitted, with the option of approaching the Tribunal for restoration of the appeal if the requisite approval from
COD is obtained. The total disputed amount is Rs. 2078,547,000.

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9.
The following deductions by the Income Tax Department in its assessment orders for the assessment year 1994-
1995 has been confirmed by the Commissioner of Income Tax (Appeals) XLIV, Mumbai by order dated March 23,
1999;
Disallowance of provisions made for bad and doubtful debts at overseas branches
Disallowance of deduction under section 36(i)(viiia) of the IT Act
The Bank has filed an appeal before the Income Tax Appellate Tribunal, Mumbai against the order dated March 23,
1999. Since the requisite approval of the Committee on Disputes (COD) constituted in the Cabinet Secretariat of the
Central Government was not obtained, by order dated October 7, 2004 the appeal was recorded 
in limine
as not
admitted, with the option of approaching the Tribunal for restoration of the appeal if the requisite approval from
COD is obtained. The total disputed amount is Rs. 893,700,000-
10.
The following disallowances or additions by the Income Tax Department in its assessment orders for the assessment
year 1993-1994 has been confirmed by the Commissioner of Income Tax (Appeals) XLIV, Mumbai by order dated
March 23, 1999;
Disallowance of provision made for bad and doubtful debts at overseas branches
Denial of relief on account deduction available under section 36(i)(viiia) of the IT Act
Addition of interest of a compensatory nature paid to RBI
The Bank has filed an appeal before the Income Tax Appellate Tribunal, Mumbai against the order dated March 23,
1999. Since the requisite approval of the Committee on Disputes (COD) constituted in the Cabinet Secretariat of the
Central Government was not obtained, by order dated October 7, 2004 the appeal was recorded 
in limine
as not
admitted, with the option of approaching the Tribunal for restoration of the appeal if the requisite approval from
COD is obtained. The total disputed amount is Rs. 1344,385,000.
11.
The Income Tax Department, in its assessment orders for the assessment year 1990-1991, has disallowed, and the
Deputy Commissioner of Income Tax (Appeals) XIII, Mumbai, by order dated November 10, 1995 has confirmed,
the following deductions claimed by the bank:
Interest on sticky loans at foreign branches
Depreciation on investments
Disallowance under section 43B of the IT Act
Deduction under section 32AB of the IT Act
The Bank has filed an appeal before the Income Tax Appellate Tribunal, Mumbai. The appeal is still pending and
the total disputed amount is Rs.511,352,714.
The Deputy Commissioner of Income Tax, Special Range–32, Mumbai has filed appeal before Income Tax Appellate
Tribunal, Mumbai against the abovementioned order dated November 10, 1995 of Deputy Commissioner of Income
Tax (Appeals) XIII, Mumbai to the extent that the said order deleted additions made on account of interest on sticky
loans in India and on account of broken period interest on purchase of securities. The appeal is pending and the
total disputed amount is Rs. 162,553,846.
12.
The Belgian tax authorities refused the Brussels Branch of the Bank foreign tax credit of Euro 4,182,375.20 for the
years 1992 to 2000 and Euro 143,660.38 for the year 2001 on the interest income earned by the branch from
Indian corporates. The Brussels Branch, claiming the tax rebate under Belgo-Indian Double Taxation Avoidance
Treaty, has filed suits before the Brussels Court of First Instance Court against the recovery of taxes for 1992 to
2000 and for the year 2001. The case is still pending.
13.
The Uganda Revenue Authority has claimed Rs. 21.7 million from the Bank on account of tax on Initial Public Offer
for divestment of 20% shareholding of the Bank in BOB Uganda in September 2002. The Tax Appeal Tribunal has
decided the case in favour of the Bank. Uganda Revenue Authority has preferred an appeal before the High Court.
The case is still pending.

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