THE RANCHI KHUNTI CENTRAL CO-OPERATIVE BANK LTD, RANCHI V. ACIT CIRCLE-3, RANCHI

ITA 18/RAN/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0255 (ITAT-RANCHI)
• Duration Of Justice: 2 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-03-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 22-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NISHA ORAON SINGHMARR J
• Keywords: Bad and doubtful debts
• Section: 143(3); 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 18 / RAN / 201 8 ASSESSMENT YEAR :2012-13 THE RANCHI KHUNTI CENTRAL CO-OPERATIVE BANK LTD., 3 RD FLOOR, AGRICULTURE MARKETING BOARD COMPLEX, ITKI ROAD, HEHAL, RANCHI, PIN-834005 [ PAN NO. AAAAT 6908 K ] V/S . ACIT, CIRCLE-3, RANCHI /APPELLANT .. / RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SMT. NISHA ORAON SINGHMARR, JCIT-DR /DATE OF HEARING 06-03-2020 /DATE OF PRONOUNCEMENT 06-03-2020 / O R D E R PER BENCH (ORAL):- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-RANCHIS O RDER DATED 18.10.2017 PASSED IN CASE NO.37/RAN/OTH15-16 INVOLVING PROCEED INGS U/S 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES B EHEST. THE REGISTRY HAS ALREADY SENT AN RPAD NOTICE DATED 11.02.2020 IT IS ACCORDINGLY PROCEEDED EX PARTE. THE CASE IS NOW TAKEN UP FOR AD JUDICATION ON MERITS. 2. WITH THE ABLE ASSISTANCE OF MRS. SINGHMARR, WE N OTICE FROM A PERUSAL OF THE CASE FILE THAT THE LOWER AUTHORITIES HAVE DECLI NED THE ASSESSEES PROVISION FOR BAD & DOUBTFUL DEBTS IN COMMODITIES AMOUNTING O F 174,27,614/- ALLEGING ITA NO.18/RAN/2018 A.Y. 2012-13 THE RANCHI KHUNTI CENTRAL CO-OP. BANK LTD. VS. ACIT CIR-3, RANCHI PAGE 2 ITS FAILURE IN RECONCILIATION OF ALL FIGURES VIS-- VIS CORRESPONDING LATEST CENSUS OF THE POPULATION; BRANCH-WISE RESPECTIVELY. ALTHOUGH LEARNED DEPARTMENTAL REPRESENTATIVE HAS VEHEMENTLY ARGUED THAT LOWER AUT HORITIES HAVE RIGHTLY GONE BY THE CORRESPONDING STATUTORY PROVISION IN SEC. 36 (VII) AND 36(VIIA) WHILST DEALING THE BAD DEBT CLAIM RAISED ON BEHALF OF THE ASSESSEE; A CENTRAL CO- OPERATIVE BANK, SHE FAILS TO REBUT THE CLINCHING FA CT THAT SINCE THE INSTANT LIS INVOLVE ESSENTIALLY A RECONCILIATION ISSUE OF BRANC H-WISE VIS--VIS HEAD-OFFICE WITH FIGURES, THE SAME REQUIRES AFRESH EXAMINATION FROM THE CIT(A)S END. WE THUS RESTORE THE ASSESSEES INSTANT SOLE SUBSTANTIV E GRIEVANCE BACK TO THE CIT(A) FOR AFRESH ADJUDICATION AS PER LAW WITHIN TH REE EFFECTIVE OPPORTUNITIES OF HEARING. THE ASSESSEE IS DIRECTED TO PRODUCE ON REC ORD ALL CORRESPONDING DETAILS IN CONSEQUENTIAL PROCEEDINGS. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT AT THE CLOSE OF HEARING ON FRIDAY, 6 TH MARCH 2020 SD/- SD/- ( ) ('# ) (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) RANCHI, *DKP SR.P.S. $- 06 / 03 /20 20 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-THE RANCHI KHUNTI CENTRAL CO-OP. BANK LT D., 3 RD FL. AGRICULTURE MARKETING BOARD COMPLEX, ITKI ROAD, HEHAL, RANCHI-834005 2. /RESPONDENT-ACIT, CIR-3, RANCHI 3. / 2 / CONCERNED CIT RANCHI 4. 2- / CIT (A) RANCHI 5. 5 ##/, /, / DR, ITAT, RANCHI 6. ; / GUARD FILE. BY ORDER/ , SR.PS, (ON TOUR), RANCHI