The Lunawada Peoples Co.Op. Bank Ltd., V. The Income Tax Officer, Ward-1, Godhra

CO 68/AHD/2014

• Counselvise Citation: [2018] 123 COUNSELVISE.COM (IT) 3392 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 26 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 31-01-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 04-06-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD B BENCH AHMEDABAD BEFORE, SHRI S. S. GODARA, JUDICIAL MEMBER AND SHRI AMARJIT SINGH, ACCOUNTANT MEMBER CO NO.68/AHD/2014 (IN ITA NO. 3037/AHD/2013) (ASSESSMENT YEAR: 2010- 11) M/S. LUNAWADA PEOPLE CO-OP. BANK LTD., NR. HATANA KUVA, AT- LUNAWADA (PMS) APPELLANT VS. ITO, WARD-1, GODHRA RESPONDENT PAN: AAJT0334L /BY ASSESSEE : NONE /BY REVENUE : SHRI MUDIT NAGPAL, SR. D.R. /DATE OF HEARING : 29.01.2018 /DATE OF PRONOUNCEMENT : 31.01.2018 ORDER PER S. S. GODARA, JUDICIAL MEMBER THIS ASSESSEES CROSS OBJECTION FOR ASSESSMENT YEAR 2010-11 ARISES AGAINST THE CIT(A)-VI, BARODAS ORDER DATED 27.09.2013, IN CASE NO. CAB-VI/185/2012-13, REVERSING ASSESSING OFFICERS ACTION DISALLOWING 80 P(2)(D) DEDUCTION OF RS.39,09,208/- PERTAINING TO PDC INTEREST, IN PROC EEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. WE NOTICE AT THE OUTSET THAT THE ASSESSEES INST ANT OBJECTION IS SUPPORTIVE OF THE CIT(A)S ORDER ONLY SINCE IT DOES NOT RAISE ANY FRESH SUBSTANTIVE GROUND. LEARNED DEPARTMENTAL REPRESENTATIVE INFORMS US THAT A CO-ORDINATE BENCH HAS CO NO. 68/AHD/14 [THE LUNAWADA PEOPLES CO-OP. BANK LTD. VS. ITO] A.Y. 2010-11 - 2 - ALREADY DECLINED REVENUES MAIN APPEAL ITA NO.3037/ AHD/2013 VIDE ORDER DATED 25.11.2016. THAT BEING THE CASE, WE FIND THAT ASSE SSEES INSTANT CROSS OBJECTION DOES NOT REQUIRE ANY FURTHER ADJUDICATION ON MERITS BEING SUPPORTIVE OF THE CIT(A)S ORDER WHICH ALREADY STANDS AFFIRMED. 3. THIS ASSESSEES CROSS OBJECTION IS ACCORDINGLY D ISMISSED AS RENDERED INFRUCTUOUS. [PRONOUNCED IN THE OPEN COURT ON THIS THE 31 ST DAY OF JANUARY, 2018.] SD/- SD/- ( AMARJIT SINGH ) (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 31/01/2018 TRUE COPY S.K.SINHA / COPY OF ORDER FORWARDED TO:- / REVENUE 2 / ASSESSEE ! / CONCERNED CIT 4 !- / CIT (A) ( )*+ ,--. . /0 / DR, ITAT, AHMEDABAD 1 +23 / GUARD FILE. BY ORDER / . // . /0