M/s. The Urban Co-operative Bank Limited, Bhalki V. The Director Of Income Tax (Intelligence and Criminal Investigations), Bangalore

ITA 1540/BANG/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 5917 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 29-09-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 24-06-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R PREMI JT BENGALU RU
• Assessee Lawyers: C SANDEEP
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R.BASKARAN, ACCOUNTANT MEMBER IT A NO S . 1537 TO 1542 /BANG/2019 ASSESSMENT YEARS : 2009-10 TO 2014-15 M/S.THE URBAN CO-OPERATIVE BANK LTD., GUNJ BHALKI, NEAR RAILWAY GATE, BHALKI-585328 PAN:AAAAT5269R VS. THE DIRECTOR OF INCOME TAX, (INTELLIGENCE AND CRIMINAL INVESTIGATIONS), BENGALURU. APPELLANT RESPONDENT APPELLANT BY : MR.C.SANDEEP CA RESPONDENT BY : SMT. R. PREMI, JT.CIT(DR)(ITAT), BENGALURU. DATE OF HEARING : 29.09.2020 DATE OF PRONOUNCEMENT : 29.09.2020 O R D E R PER N.V.VASUDEVAN, VICE-PRESIDENT: THE ASSESSEE HAS FILED THESE APPEALS CHALLENGING C OMMON ORDER DATED 13.5.2019 PASSED BY THE CIT(A)-13, BENGALURU CONFIR MING LEVY OF PENALTY UNDER SEC.271FA OF THE INCOME TAX ACT, 1961 (ACT). THESE APPEALS RELATE TO AY 09-10 TO 14-15 CORRESPONDING TO FINANCIAL YEAR 2008-09 TO 13 -14. 2. AT THE TIME OF HEARING OF THIS APPEAL, THE LEARN ED COUNSEL FOR THE ASSESSEE HAS FILED A MEMO DATED 29.9.2020 WHEREIN IT HAS BEE N MENTIONED THAT THE APPELLANT IS SERIOUSLY CONTEMPLATING TO SETTLE THE DISPUTES I N THESE APPEALS UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT 2020 AND HAS MADE A PRAYER FOR ADJOURNING THE MATTER SO THAT THE PROCESS COMPLETED UNDER THE AFORESAID SCHE ME IS COMPLETED. ACCORDINGLY THE ASSESSEE HAS PRAYED FOR ADJOURNMENT OF THESE AP PEALS. ITA NO.1537 TO 1542/BANG/2019 M/S.THE URBAN CO-OPERATIVE BANK LTD. 2 3. SINCE THE ASSESSEE IS OPTING FOR SETTLEMENT UNDE R VIVAD SE VISHWAS SCHEME, 2020, THE APPELLANT HAS TO WITHDRAW THE PRESENT AP PEALS FILED BEFORE THE TRIBUNAL IN DUE COURSE. SINCE THE ASSESSEE IS CONTEMPLATING TO FILE NECESSARY APPLICATIONS BEFORE THE TAX AUTHORITIES UNDER THE ABOVE SAID SCH EME, WE ARE OF THE VIEW THAT NO PURPOSE WILL BE SERVED IN KEEPING THESE APPEALS PEN DING. ACCORDINGLY WE DISMISS ALL THESE APPEALS OF THE ASSESSEE. THE ASSESSEE IS HOWEVER GIVEN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRESENT O RDER IN ACCORDANCE WITH THE LAW, IF DUE TO OTHER CIRCUMSTANCES AND IF THE ASSESSEE INTE NDS TO DO SO. 4. IN THE RESULT, THE APPEALS OF THE ASSESSEE ARE D ISMISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN COURT ON THIS 29 TH DAY OF SEPTEMBER, 2020. SD/- SD/- ( B.R.BASKARAN) ( N V VASUDEVAN ) ACCOUNTANT MEMBER VICE PRESIDE NT BANGALORE, DATED, THE 29 TH SEPTEMBER, 2020. / DESAI S MURTHY / COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FIL E BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE.