Nagar Urban Co-op Bank Ltd., Ahmednagar V. Addl. CIT, Ahmednagar Range, Ahmednagar

ITA 1894/PUN/2012

• Counselvise Citation: 189424514 RSA 2012
• Duration Of Justice: 1 year(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-11-2013
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 05-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P L PATHADE
• Keywords: Opportunity of being heard; Principle of natural justice

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER, AND SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA NO.1894/PN/2012 A.Y. 2008-09 NAGAR URBAN CO-OPERATIVE BANK LTD., POST BOX NO.7, CENTRAL BANK ROAD, AHMEDNAGAR 414001 PAN : AAAAN0509L APPELLANT VS. ADDL. COMMISSIONER OF INCOME TAX, AHMEDNAGAR RANGE RESPONDENT APPELLANT BY : SHRI C.H. NA NI WADEKAR RESPONDENT BY : SHRI P.L. PATHADE DATE OF HEARING: 04.11.2013 DATE OF ORDER : 04.11.2013 ORDER PER R.K. PANDA, AM THIS APPEAL HAS BEEN FILED BY ASSESSEE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS)-I [(IN SHORT C IT(A)-I], PUNE, DATED 30-03-2012 FOR A.Y. 2008-09 ON THE FOLL OWING GROUNDS: 1. THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPEAL S) I, HAS ERRED IN DISMISSING THE APPEAL FOR NON ATTEN DANCE BEFORE HIM. THAT THE LEARNED COMMISSIONER OF INCOM E TAX (APPEAL) I, HAS NOT GIVEN PROPER AND JUST OPPOR TUNITY 2 OF HEARING THOUGH THE ADJOURNMENT LETTER SEEKING TI ME WAS BEFORE HIM. THAT THE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEAL) I BE SET ASIDE AND THE APPELLANT MAY BE GIVEN AN OPPORTUNITY OF BEARIN G HEARD. 2. THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPEAL ) I, HAS DISMISSED THE APPEAL FOR NON ATTENDANCE. THAT THE APPELLANT PRAYS THAT THE APPEAL MAY BE HEARD ON MER ITS OF THE CASE. 3. THAT THE LEARNED COMMISSIONER OF INCOME TAX (APPEAL ) I HAS ERRED IN CONFIRMING THE ADDITIONS MADE BY THE A .O WHO HAS DISALLOWED AMORTIZATION OF PREMIUM PAID ON GOVT. SECURITIES RS.1511333/- DEBITED TO P & L A/C. THAT THE AMORTIZATION OF PREMIUM PAID ON GOVT. SECURITIES RS.1511333/- PAID AS PER RBI GUIDELINES BE ALLOWED IN FULL AS BEING THE EXPENSES INCURRED DURI NG THE COURSE OF BUSINESS OF BANKING. 2. AT THE OUTSET OF HEARING, IT WAS POINTED OUT THA T ASSESSEE WAS NOT GIVEN A PROPER AND DUE OPPORTUNITY OF BEING HEARD IN SPITE OF THE FACT THAT THERE WAS AN ADJOURNMENT PET ITION BEFORE CIT(A) AT THE RELEVANT POINT OF TIME. MOREOVER, WE FIND THAT CIT(A) HAS DISMISSED THE APPEAL OF ASSESSEE EXPARTE BY FOL LOWING RATIO OF MULTIPLAN INDIA PVT. LTD., 38 ITD 320 WHICH IS NOT JUSTIFIED. ACCORDING TO US, DUE OPPORTUNITY OF HEARING IS ESSE NCE OF PRINCIPLES OF NATURAL JUSTICE WHICH SHOULD BE GIVEN BY ALL ADMINISTRATIVE, QUASI-JUDICIAL BODIES AND JUDICIAL BODIES. IN VIEW OF ABOVE, WE SET ASIDE THE ORDER OF CIT(A) AND REST ORE THE MATTER TO HIM WITH A DIRECTION TO DECIDE THE APPEAL ON FAC TS AND LAW AFTER PROVIDING DUE OPPORTUNITY OF HEARING TO THE ASSESSE E. SINCE, WE ARE RESTORING THE MATTER TO THE CIT(A) ON PRELIMINA RY ISSUE, SO WE ARE REFRAINING FROM COMMENTING ON THE MERITS OF THE ISSUE AT HAND. 3. IN THE RESULT, THE APPEAL IS ALLOWED FOR STATIST ICAL PURPOSES. 3 PRONOUNCED IN THE OPEN COURT ON THE DAY OF HEARING ITSELF I.E. 4 TH NOVEMBER, 2013. SD/- SD/- (SHAILENDRA KUMAR YADAV) (R.K. PANDA) JUDICIAL MEMBER ACCOUNTANT MEMBER PUNE, DATED: 4 TH NOVEMBER 2013 GCVSR COPY TO:- 1) ASSESSEE 2) DEPARTMENT 3) THE CIT(A)-I, PUNE 4) THE CIT-I, PUNE 5) THE DR, A BENCH, I.T.A.T., PUNE. 6) GUARD FILE //TRUE COPY// BY ORDER SENIOR PRIVATE SECRETARY, I.T.A.T., PUNE