Rajkot Bank Workers Co-Op. Credit Society Limited, Rajkot V. The Pr. CIT-1, Rajkot, Rajkot

ITA 183/RJT/2022

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 4243 (ITAT-RAJKOT)
• Duration Of Justice: 1 year(s) 7 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 16-01-2024
• Assessment Year: 2017-2018
• Appeal Filed On: 29-05-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT (Conducted Through Virtual Court) Before: Shri Waseem Ahmed, Accountant Member And Shri T.R. Senthil Kumar, Judicial Member Rajkot Bank Workers Co-op. Credit Society Limited Shivam Complex, 1 st Floor, Dr. Yagnik Road, Rajkot PAN: AAAAR9189A (Appellant) Vs The Principal Commissioner of Income-tax, Rajkot -1, Rajkot (Respondent) Assessee Represented: Shri D.M. Rindani, A.R. Revenue Represented: Shri Shramdeep Sinha, CIT-DR Date of hearing : 17-01-2024 Date of pronouncement : 19-01-2024 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Assessee as against the Revision order dated 04.02.2022 passed by the Principal Commissioner of Income Tax, Rajkot-1, arising out of the assessment order passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2017-18. 2. At the outset, Ld. Counsel Shri D.M. Rindani appearing for the assessee submitted that he has instruction from the assessee not ITA No. 183/Rjt/2022 Assessment Year 2012-13 I.T.A No. 183/Rjt/2022 A.Y. 2017-18 Page No Rajkot Bank Workers Co-op. Credit Society Ltd. vs. PCIT 2 to press for the above appeal filed by the assessee and submitted copy of the letter dated 17.01.2024 which reads as follows: From: Rajkot Bank Workers Co. Op Credit Society Ltd, 202-205 Shivam Complex, Sarveshwar Chowk, Rajkot-360001. To, The Registrar The Income Tax Appellate Tribunal, "Amruta Estate", 5 th floor, M.G. Road, Rajkot Ref.: IIA No, 183/R/2022 against order u/s. 263-A.Y. 2017-18 Sub: Application for withdrawal of above referred appeal Hon'ble Members, The above referred matter is fixed for hearing before your honor on 17-01- 2024, In this regard, it is submitted that the assessee does not want to press the grounds of appeal filed before the Bench. Hence, it is requested to kindly treat this appeal as withdrawn. Thanking You, Yours faithfully, For Rajkot Bank Workers Co. Op Credit Society Ltd 3. Per contra, Ld. CIT-DR Shri Shramdeep Sinha appearing for the Revenue submitted that the Revision order passed by the PCIT is correct in law on the claim of deduction u/s. 80P(2)(d) on the interest income received from UCO Bank, following the Hon’ble Jurisdictional High Court in the case of Katlary Kariyana Merchant Sahkari Sarafi Mandali Ltd. vs. ACIT reported in (2022) 140 taxmann.com 602 (Guj.). I.T.A No. 183/Rjt/2022 A.Y. 2017-18 Page No Rajkot Bank Workers Co-op. Credit Society Ltd. vs. PCIT 3 4. Since the assessee is not pressing the present appeal, the same are hereby dismissed as withdrawn. 5. In the result, the appeal filed by the Assessee is hereby dismissed. Order pronounced in the open court on 19-01-2024 Sd/- Sd/- (WASEEM AHMED) (T.R. SENTHIL KUMAR) ACCOUNTANT MEMBER True Copy JUDICIAL MEMBER Ahmedabad : Dated 19/01/2024 आदेश कȧ ĤǓतͧलͪप अĒेͪषत / Copy of Order Forwarded to:- 1. Assessee 2. Revenue 3. Concerned CIT 4. CIT (A) 5. DR, ITAT, Ahmedabad 6. Guard file. By order/आदेश से, उप/सहायक पंजीकार आयकर अपीलȣय अͬधकरण, राजकोट