M/s. The Chitradurga District Co-Op Central Bank Ltd, Chitradurga V. Deputy Commissioner of Income Tax, Circle-2(1), Davangere

ITA 2120/BANG/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 6055 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 2 month(s) 27 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: 28-09-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 02-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R PREMI
• Keywords: Question of law; Bad and doubtful debts; TDS
• Section: 40(a)(ia); 201; 43; 194A; 145; 37

Judgement Text

ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA IN THE INCOME TAX APPELLATE TRIBUNAL CBENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENTAND SHRI B.R. BASKARAN, ACCOUTANT MEMBER ITA NO.2120/BANG/2018 ASSESSMENTYEAR: 2012-13 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK LTD. DC OFFICE CIRCLE CHITRADURGA-577 501 PAN NO :AAALC0069M VS. DCIT CIRCLE-2(1) DAVANGERE APPELLANT RESPONDENT ITA NO.1937/BANG/2018 ASSESSMENT YEAR: 2012-13 DCIT CIRCLE-2(1) DAVANGERE VS. M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK LTD. DC OFFICE CIRCLE CHITRADURGA-577 501 APPELLANT RESPONDENT APPELLANT BY : SHRI SURESH MUTHUKRISHNAN, A.R. RESPONDENT BY : SMT. R. PREMI, D.R. DATE OF HEARING : 28.09.2020 DATE OF PRONOUNCEMENT : 29.09.2020 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: THESE CROSS APPEALS ARE DIRECTED AGAINST THE ORDER DATED 8.3.2018 PASSED BY LD. CIT(A) DAVANGERE AND THEY RE LATE TO THE ASSESSMENT YEAR 2012-13. ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 2 OF 9 2. THE REVENUE IS IN APPEAL ASSAILING THE DECISION OF LD. CIT(A) IN DELETING THE ADDITION MADE IN RESPECT OF INTEREST I NCOME ACCRUED ON NON-PERFORMING THE ASSETS. 3. THE ASSESSEE IS IN APPEAL ASSAILING THE DECISION OF LD. CIT(A) IN SUSTAINING ADDITIONS RELATING TO INTEREST INCOME ACCRUED ON STANDARD ASSETS, DISALLOWANCE MADE U/S 40(A)(IA) OF THE ACT AND DISALLOWANCE MADE U/S 37(2B) OF THE ACT. 4. THE FACTS RELATING TO THE CASE ARE STATED IN BRIEF. THE ASSESSEE IS A CO-OPERATIVE BANK CARRYING ON BANKING BUSINESS . THE A.O. NOTICED THAT THE ASSESSEE IS FOLLOWING HYBRID SYSTE M OF ACCOUNTING, VIZ., CASH SYSTEM FOR ACCOUNTING INTEREST INCOME ON LOANS GIVEN BY IT AND MERCANTILE SYSTEM FOR ALL OTHER ITEMS. IN VIEW OF THE SAME, THE ASSESSEE DID NOT ACCOUNT FOR INTEREST ACCRUED ON ST ANDARD ASSET AND NON-PERFORMING ASSETS. 5. THE A.O. NOTICED THAT THE PROVISIONS OF SECTION 145 OF THE ACT MANDATES THAT THE INCOME CHARGEABLE UNDER THE HEAD PROFITS & GAINS ON ITSELF OR PROFESSION SHALL BE COMPUTED IN ACCORDANCE WITH EITHER CASH OR MERCANTILE SYSTEM OF ACCOUNTING REGU LARLY EMPLOYED BY THE ASSESSEE. ACCORDINGLY, HE TOOK THE VIEW THAT THE INTEREST INCOME ACCRUED ON STANDARD ASSETS AND NON-PERFORMIN G ASSETS SHOULD BE ASSESSED IN THE HANDS OF THE ASSESSEE ON ACCRUAL BASIS. THE INTEREST ACCRUED ON STANDARD ASSETS WHICH WAS N OT ACCOUNTED AS INCOME BY THE ASSESSEE WORKED OUT TO RS.260.03 L AKHS. SIMILARLY, THE INTEREST ACCRUED ON NON-PERFORMING A SSET BUT NOT ACCOUNTED AS INCOME WORKED OUT TO RS.260.53 LAKHS. THE A.O. ASSESSED BOTH THE AMOUNT REFERRED ABOVE AS INCOME O F THE ASSESSEE. ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 3 OF 9 6. THE A.O. ALSO NOTICED THE ASSESSEE HAS PAID INTERES T OF DEPOSITS MADE BY THE NON-MEMBERS. HOWEVER, IT DID N OT DEDUCT TDS ON THE INTEREST SO PAID U/S 194A OF THE ACT. AC CORDINGLY, THE A.O. DISALLOWED A SUM OF RS.67.47 LAKHS U/S 40(A)(I A) OF THE ACT. THE A.O. ALSO NOTICED THAT THE ASSESSEE INCURRED AD VERTISEMENT EXPENSES FOR INSERTING AN ADVERTISEMENT IN A SOUVEN IR. THE A.O. HELD THAT THE AMOUNT OF RS.75,500/- INCURRED ON THE ABOVE SAID ADVERTISEMENT IS NOT ALLOWABLE HAS DEDUCTION U/S 37 (2B) OF THE ACT. ACCORDINGLY, HE DISALLOWED THE SAME. 7. IN THE APPELLATE PROCEEDINGS, THE LD. CIT(A) NOTICE D THAT HONBLE HIGH COURT OF KARNATAKA HAS HELD IN THE CAS E OF CIT VS. CANFIN HOMES LTD. 347 ITR 382 THAT THE INTEREST FR OM NON- PERFORMING ASSETS IS NOT ASSESSABLE AS INCOME. FOL LOWING THE SAME, THE LD. CIT(A) DELETED THE ADDITION OF INTEREST INC OME RELATING TO NPA ASSETS. THE LD. CIT(A), HOWEVER, CONFIRMED THA T THE ADDITION OF INTEREST INCOME ACCRUED ON STANDARD ASSETS DISALLOW ANCE MADE U/S 40(A)(IA) OF THE ACT AND U/S 37(2B) OF THE ACT. 8. AGGRIEVED, BOTH THE PARTIES ARE IN APPEAL BEFORE US CHALLENGING THE DECISION RENDERED BY LD. CIT(A) AGA INST EACH OF THEM. 9. WE SHALL FIRST TAKE UP THE APPEAL FILED BY THE REVE NUE. THE LD. A.R. SUBMITTED THAT THE A.O. HAD MADE IDENTICAL ADDITION IN RESPECT OF INCOME ACCRUED ON NON-PERFORMING ASSETS IN ASSESSMENT YEARS 2009-10 AND 2010-11 ALSO. THE COORDINATE BEN CH OF ITAT, VIDE ITS ORDER DATED 28-09-2017 PASSED IN ITA NOS.1 522 & 1523/BANG/2016 HAS HELD THAT INTEREST INCOME ON NON -PERFORMING ASSETS IS NOT ASSESSABLE AS INCOME OF THE ASSESSEE. IN THIS REGARD, THE COORDINATE BENCH HAS FOLLOWED THE DECISION REND ERED BY THE ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 4 OF 9 JURISDICTIONAL HIGH COURT IN THE CASE OF CANFIN HOM ES LTD. (SUPRA) AND ALSO IN THE CASE OF SIDDESHWAR CO-OPERATIVE BAN K LTD. REPORTED IN 388 ITR 588. 10. ON THE CONTRARY, THE LD. D.R. SUPPORTED THE ORDER P ASSED BY THE A.O. 11. WE HEARD THE PARTIES ON THIS ISSUE AND PERUSED THE RECORD. WE NOTICE THAT THE ISSUE RELATING TO ADDITION OF IN TEREST INCOME ACCRUED ON NON-PERFORMING ASSETS HAS BEEN CONSIDERE D BY THE COORDINATE BENCH IN THE ASSESSEES OWN CASE IN ASSE SSMENT YEAR 2009-10 & 2010-11 AND IT WAS DECIDED IN FAVOUR OF T HE ASSESSEE. FOR THE SAKE OF CONVENIENCE, WE EXTRACT BELOW THE O PERATIVE PORTION OF THE ORDER PASSED BY THE COORDINATE BENCH IN ASSE SSMENT YEARS 2009-10 & 2010-11. 5. WE HAVE HEARD THE LEARNED DEPARTMENTAL REPRESENT ATIVE AS WELL AS LEARNED AUTHOISED REPRESENTATIVE AND CONSID ERED THE RELEVANT MATERIAL ON RECORD. AT THE OUTSET, WE NOTE THAT THIS ISSUE IS COVERED BY THE HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. CANFIN HOMES (SUPRA) HOWEVER, T HE CIT (APPEALS) HAS BIFURCATED NPAS BY CLASSIFYING THE SO ME OF THE NPAS AS HIGHLY STICKY LOANS AND OTHERS ARE ONLY STI CKY LOANS AND ALLOWED THE CLAIM OF THE ASSESSEE ONLY IN RESPE CT OF HIGHLY STICKY LOAN TO THE EXTENT OF RS.25.87 LAKHS ACCRUED INTEREST. THUS ADDITION TO THE EXTENT OF RS.27,32,000 WAS SUS TAINED BY THE CIT (APPEALS). WE ARE OF THE VIEW THAT THERE IS NO BASIS FOR RECLASSIFICATION OF NPAS INTO HIGHLY STICKY AND STI CKY LOANS ONCE THE ASSESSEE HAS TREATED THE LOAN IN THE CATEG ORY OF ITA NO.1522, 1523,1548 & 1549/BANG/2016 NPAS AS PER THE RBI GUIDELINES THEN THE INTEREST ON THESE NPAS CANNOT B E TREATED ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 5 OF 9 AS INCOME OF THE ASSESSEE. WE FURTHER NOTE THAT FOR THE ASSESSMENT YEAR 2010-11 THE CIT (APPEALS) ALLOWED F ULL CLAIM OF THE ASSESSEE WITHOUT ANY RECLASSIFICATION. THE H ON'BLE HIGH COURT REITERATED ITS VIEW IN CASE OF CIT VS. SHRI S IDDESHWAR CO-OP BANK LTD. (SUPRA) IN PARA 5 AS UNDER : 5. ONE OTHER SUBSTANTIAL QUESTION OF LAW FRAMED IS, 'WHETHER INTEREST RECEIVABLE FROM NON-PERFORMING ASSETS, BAD AND DOUBTFUL DEBTS THOUGH THE ACTUAL EXPRESSION USED IS INTEREST PAYABLE AND NOT REFLECT ED IN THE PROFIT AND LOSS ACCOUNT, COULD BE DEDUCTED?' IN THIS REGARD, THE LEARNED COUNSEL FOR THE ASSESSE E HAS PRODUCED A JUDGMENT OF THIS COURT IN CIT V. CANFIN HOMES LTD. [2012] 347 ITR 382/[2011] 201 TAXMAN 273/13 TAXMANN.COM 43 WITH REFERENCE TO NON- PERFORMING ASSETS. THE DIVISION BENCH OF THIS COURT HAS HELD AS FOLLOWS: 'THEREFORE, IT IS CLEAR, IF AN ASSESSEE ADOPTS THE MERCANTILE SYSTEM OF ACCOUNTING AND IN HIS ACCOUNTS HE SHOWS A PARTICULAR INCOME AS ACCRUING, WHETHER THAT AMOUNT IS REALLY ACCRUED OR NOT IS LIABLE TO BRING THE SAID INCOME TO TAX. HIS ACCOUNTS SHOULD REFLECT TRUE AND CORRECT STATEMENT OF AFFAIRS. MERELY BECAUSE THE SAID AMOUNT ACCRUED WAS NOT REALISED IMMEDIATELY CANNOT BE A GROUND TO AVOID PAYMENT OF TAX. BUT, IF IN HIS ACCOUNT IT IS CLEARLY STATED THOUGH A PARTICULAR INCOME IS DUE TO HIM BUT IT IS NOT POSSIBLE TO RECOVER THE SAME, THEN IT CANNOT BE SAID TO HAVE BEEN ACCRUED AND THE SAID AMOUNT CANNOT BE BROUGHT TO TAX. IN THE INSTANT CASE, WE ARE CONCERNED WITH A NON-PERFORMING ASSET. AS THE DEFINITION OF NON-PERFORMING ASSET SHOWS AN ASSET BECOMES NON-PERFORMING WHEN IT CEASES TO YIELD INCOME. NON-PERFORMING ASSET IS AN ASSET IN RESPECT OF WHICH INTEREST HAS REMAINED UNPAID AND HAS BECOME PAST DUE. ONCE A PARTICULAR ASSET IS SHOWN TO BE A NON-PERFORMING ASSET, THEN THE ASSUMPTION IS-IT IS NOT YIELDING ANY REVENUE. WHEN IT IS NOT YIELDING ANY REVENUE, THE QUESTION OF SHOWING THAT REVENUE AND PAYING TAX WOULD NOT ARISE. AS IS CLEAR FROM THE POLICY GUIDELINES ISSUED BY THE NATIONAL HOUSING BANK, ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 6 OF 9 THE INCOME FROM NON-PERFORMING ASSET SHOULD BE RECOGNISED ONLY WHEN IT IS ACTUALLY RECEIVED. THAT IS WHAT THE TRIBUNAL HELD IN THE INSTANT CASE. THEREFORE, THE CONTENTION OF THE REVENUE THAT IN RESPECT OF NON- PERFORMING ASSETS EVEN THOUGH IT DOES NOT YIELD ANY INCOME AS THE ASSESSEE HAS ADOPTED A MERCANTILE SYSTEM OF ACCOUNTING, HE HAS TO PAY TAX ON THE REVENUE WHICH HAS ACCRUED NOTIONALLY IS WITHOUT ANY BASIS. IN THAT VIEW OF THE MATTER, THE SECOND SUBSTANTIAL QUESTION FRAMED IS ANSWERED AGAINST THE REVENUE AND IN FAVOUR OF THE ASSESSEE.' AT THIS, THE LEARNED COUNSEL FOR THE REVENUE WOULD SUBMIT THAT THE DECISION ONLY REFERS TO NON-PERFORMING ASS ETS AND IT IS NOT EVIDENT THAT NON-PERFORMING ASSETS WOULD ALS O ITA NO.1522, 1523,1548 & 1549/BANG/2016 COVER OTHER CLASSIFICATION OF LOANS AND ADVANCES. IN THIS REGAR D, THE LEARNED COUNSEL FOR THE ASSESSEE WOULD POINT OUT TH AT NON- PERFORMING ASSETS WOULD INCLUDE THE OTHER CATEGORIE S OF SUBSTANDARD ASSETS, DOUBTFUL ASSETS, LOSS ASSETS, E TC., ALL OF WHICH WOULD COME WITHIN THE PURVIEW OF NON-PERFORMI NG ASSETS. IN THIS REGARD, HE WOULD DRAW ATTENTION TO THE PRUDENTIAL NORMS FOR INCOME RECOGNITION, ASSET CLAS SIFICATION AND PROVISIONING PERTAINING TO ADVANCES. VOLUME I O F 'TANNAN'S BANKING LAW AND PRACTICE IN INDIA', HAS E XTRACTED THESE PRUDENTIAL NORMS IN LINE WITH THE INTERNATION AL PRACTICES AND AS PER THE RECOMMENDATIONS OF THE NARASIMHAM COMMITTEE ON THE FINANCIAL SYSTEM, THE R ESERVE BANK OF INDIA HAS INTRODUCED, IN A PHASED MANNER, PRUDENTIAL NORMS FOR INCOME RECOGNITION, ASSET CLAS SIFICATION AND PROVISIONING FOR THE ADVANCES PORTFOLIO OF THE BANKS SO AS TO MOVE TOWARDS GREATER CONSISTENCY AND TRANSPARENC Y IN THE PUBLISHED ACCOUNTS. THE DEFINITION OF NON-PERFORMING ASSETS IS AS FOLLO WS: '1. NON-PERFORMING ASSETS: AN ASSET, INCLUDING A LEASED ASSET, BECOMES NON- PERFORMING WHEN IT CEASES TO GENERATE INCOME FOR TH E BANK. A 'NON-PERFORMING ASSET' (NPA) IS A LOAN OR AN ADVA NCE WHERE: (I) THE INTEREST AND/OR INSTALMENT OF PRINCIPAL REM AIN OVERDUE FOR A PERIOD OF MORE THAN 90 DAYS IN RESPEC T OF A TERM LOAN; ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 7 OF 9 (II) THE ACCOUNT REMAINS 'OUT OF ORDER' FOR A PERIO D OF MORE THAN 90 DAYS AS INDICATED BELOW, IN RESPECT OF AN OVERDRAFT/CASH CREDIT (OD/CC); (III) THE BILL REMAINS OVERDUE FOR A PERIOD OF MORE THAN 90 DAYS IN THE CASE OF BILLS PURCHASED AND DISCOUNT ED; (IV) THE INSTALMENT OF PRINCIPAL OR INTEREST THEREO N REMAINS OVERDUE FOR TWO CROP SEASONS FOR SHORT DURATION CROPS; (V) THE INSTALMENT OF PRINCIPAL OR INTEREST THEREON REMAINS OVERDUE FOR ONE CROP SEASONS FOR LONG DURAT ION CROPS. BANKS SHOULD, CLASSIFY AN ACCOUNT AS NPA ONLY IF TH E INTEREST CHARGED DURING ANY QUARTER IS NOT SERVICED FULLY WITHIN 90 DAYS FROM THE END OF THE QUARTER.' FURTHER, ASSET CLASSIFICATION WHICH IS SEPARATELY D EALT WITH REFERENCE TO CATEGORIES OF NON-PERFORMING ASSE TS, AS FOLLOWS: 'BANKS ARE REQUIRED TO CLASSIFY NON-PERFORMING ASSE TS FURTHER INTO THE FOLLOWING THREE CATEGORIES BASED O N THE PERIOD FOR WHICH THE ASSET HAS REMAINED NON- PERFORMING AND THE REALISABILITY OF THE DUES: (A) SUB-STANDARD ASSETS (B) DOUBTFUL ASSETS (C) LOSS ASSETS' THEREFORE, IT IS EVIDENT THAT THE MERE NOMENCLATURE ADOPTED WITH REFERENCE TO THE BAD LOANS AND ADVANCE S RECEIVABLE, WOULD REFER TO ALL NON-PERFORMING ASSET S OF ANY NATURE, OF WHATEVER CATEGORY IT WAS PLACED AS A NON-PERFORMING ASSET AND THEREFORE, THE DECISION OF THIS COURT IN CANFIN HOMES LTD.'S CASE (SUPRA) WOULD SQUARELY APPLY. ACCORDINGLY, THE ABOVE QUESTION OF LAW ALSO STANDS ANSWERED. ACCORDINGLY, THE APPEALS STAN D DISPOSED OF. ACCORDINGLY, IN VIEW OF THE BINDING PRECEDENT OF TH E HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CANFIN HOM ES LTD. (SUPRA), WE DECIDE THIS ISSUE IN FAVOUR OF THE ASSE SSEE AND AGAINST THE REVENUE. GROUND NOS.2 TO 4 OF THE REVEN UE(SUPRA) APPEAL ARE DISMISSED AND GROUND NO.2 OF THE ASSESSE E'S APPEAL IS ALLOWED. 12. WE NOTICE THAT THE COORDINATE BENCH HAS FOLLOWED TH E BINDING DECISION RENDERED BY THE HONBLE KARNATAKA HIGH COU RT IN THE CASE ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 8 OF 9 OF CANFIN HOMES LTD. (SUPRA) AND SIDDESHWAR CO-OPER ATIE BANK LTD. (SUPRA). WE HAVE ALSO NOTICED THAT THE LD. CI T(A) HAS FOLLOWED THE DECISION RENDERED BY THE KARNATAKA HIGH COURT I N THE CASE OF CANFIN HOMES LTD. (SUPRA) IN DECIDING THIS ISSUE IN FAVOUR OF THE ASSESSEE. ACCORDINGLY, WE DO NOT FIND ANY INFIRMIT Y IN THE ORDER PASSED BY LD. CIT(A) ON THIS ISSUE. 13. WE SHALL NOW TAKE UP THE APPEAL FILED BY THE ASSESS EE. AT THE TIME OF HEARING, THE LD. A.R. SUBMITTED THAT THE AS SESSEE HAS OPTED FOR SETTLEMENT OF THE DISPUTE UNDER VIVAD SE VISHWA S ACT, 2020 AND HAS FILED APPLICATIONS IN FORM 1 AND 2. ACCORDINGL Y HE PRAYED THAT THE ASSESSEES APPEAL MAY BE KEPT PENDING. 14. THE LD. D.R. SUBMITTED THAT THE APPEAL OF THE ASS ESSEE MAY BE DISMISSED, SINCE NO PURPOSE WOULD BE SERVED IN K EEPING THE APPEAL PENDING AS THE ASSESSEE, IN ANY WAY, REQUIRE D TO WITHDRAW THE APPEAL. 15. WE HEARD THE PARTIES AND PERUSED THE RECORD. SINCE THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER DIRE CT TAX VIVAD SE VISHWAS ACT, 2020, THE ASSESSEE WOULD BE MOVING APP LICATION FOR WITHDRAWING THE PRESENT APPEAL FILED BEFORE THE TRI BUNAL IN DUE COURSE. ACCORDINGLY, WE ARE OF THE VIEW THAT NO PU RPOSE WILL BE SERVED IN KEEPING THE APPEAL OF THE ASSESSEE PENDIN G. ACCORDINGLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. THE ASSESSEE SEEKS ADJOURNMENT ONLY FOR THE REASON THAT IT HAS N OT RECEIVED FORM NO.3, MEANING THEREBY, THE ASSESSEE WANTS TO ENSURE THAT THERE IS NO DIFFERENCE IN THE TAX AMOUNT PAYABLE BY IT. HOW EVER, SINCE WE HAVE DISMISSED THE APPEAL OF THE ASSESSEE, IT IS GI VEN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRESENT O RDER IN ACCORDANCE WITH LAW, IF THE ASSESSEE INTENDS TO DO SO. ITA NO.2120/BANG/2018 M/S. THE CHITRADURGA DISTRICT CO-OP. CENTRAL BANK L TD., CHITRADURGA PAGE 9 OF 9 16. IN THE RESULT, BOTH THE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH SEPT, 2020. SD/- (N.V. VASUDEVAN) VICE PRESIDENT SD/- (B.R. BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED 29 TH SEPT, 2020. VG/SPS COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.