Swaminarayan Co.Op.Bank Ltd., Baroda V. The Income Tax Officer, Ward-5(3), Baroda

ITA 2281/AHD/2014

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8124 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 9 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-06-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 08-08-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SAURABH SINGH
• Keywords: Depreciation

Judgement Text

ITA NO.2281/AHD/2014 A.Y. 2010-11 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A BENCH, AHMEDABAD BEFORE SHRI RAJPAL YADAV, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA NO.2281/AHD/2014 ASSESSMENT YEAR: 2010-11 SWAMINARAYAN CO-OP. BANK LIMITED, VS. INCOME TAX OFFICER, 1, ASHOK CHAMBERS, WARD 5(3),BARODA. MADANZAMPA ROAD, PATTHARGATE, VADODARA 390 001. [PAN AAAAS 1932 N] (APPELLANT) (RESPONDENT) APPELLANT BY : NONE RESPONDENT BY : SHRI SAURABH SINGH, SR. D.R. DATE OF HEARING : 24.05.2018 DATE OF PRONOUNCEMENT : 04.06.2018 O R D E R PER RAJPAL YADAV, ACCOUNTANT MEMBER: 1. ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL AGAINS T THE ORDER OF LD. CIT(A) DATED 30 TH JUNE, 2014 PASSED FOR A.Y. 2010-11, ON THE FOLLOWI NG GROUNDS :- 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CA SE THE LEARNED CIT(A) ERRED ON LAW IN CONFIRMING THE DETERMINATION OF INC OME AT RS.1,21,94,779/- IGNORING THE EXPENSES INCURRED AND DEPRECIATION ALL OWANCES. THE LEARNED CIT(A) TO APPRECIATE THE FACTS THAT TH E BUSINESS OF YOUR APPELLANT IS NOT CLOSED. YOUR APPELLANT THEREFORE IN THE INTEREST OF JUSTICE BE DIRECTED TO ALLOW THE ADMISSIBLE EXPENSES AND ALLOWANCES AS PER THE PROVI SIONS OF LAW. 2. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E THE LEARNED CIT(A) ERRED IN NOT GRANTING THE SET OFF BROUGHT FORWARD L OSSES AND ALLOWANCES. YOUR APPELLANT THEREFORE IN THE INTEREST OF JUSTICE REQUESTS HEREBY TO DIRECT THE A.O. TO GRANT SETOFF BROUGHT FORWARD LOS SES AND ALLOWANCES TO YOUR APPELLANT. 3. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CAS E THE LEARNED CIT(A) ERRED ON LAW IN CONFIRMING THE NON GRANTING DEDUCTI ONS UNDER CHAPTER VI-A OF THE ACT. ITA NO.2281/AHD/2014 A.Y. 2010-11 PAGE 2 OF 2 THE LEARNED CIT(A) FAILED IN HIS DUTY TO GRANT THE LEGITIMATE DEDUCTIONS AND ALLOWANCE AVAILABLE TO THE APPELLANT AS PER THE PROVISIONS OF THE ACT. YOUR APPELLANT THEREFORE IN THE INTEREST OF JUSTICE HEREBY REQUESTS THAT THE A.O. BE DIRECTED TO GRANT DEDUCTION UNDER CHAPT ER VI-A OF THE ACT. 2. THIS CASE WAS EARLIER FIXED FOR HEARING ON 15.03 .2018, HOWEVER, THE HEARING WAS ADJOURNED TO 24.05.2018 ON THE REQUEST OF THE A SSESSEE. IT IS NOTICED THAT WHEN THE MATTER CAME UP FOR HEARING ON 24.05.2018, NONE APPEARED FOR AND ON BEHALF OF THE ASSESSEE APPELLANT. FROM THIS, IT IS REASONABLE TO INFER THAT THE ASSESSEE IS NOT SERIOUS TO PURSUE ITS CASE. HONBLE SUPREME COURT IN THE CASE OF CIT VS. B.N. BHATTACHARGEE AND ANOTHER, 118 ITR 461(SC) OBSERVED THAT PREFERRING AN APPEAL MEANS EFFECTIVELY PURSUING IT. HONBLE M.P. HIGH C OURT IN THE CASE OF ESTATE OF LATE TUKOJIRAO HOLKAR VS. CWT, 223 ITR 480(M.P.) DISMISS ED THE REFERENCE FILED BY THE ASSESSEE FOR NOT TAKING NECESSARY STEPS. SIMILAR V IEW IS TAKEN BY I.T.A.T., DELHI BENCH IN THE CASE OF MULTIPLAN INDIA LTD., 38 ITD 3 20. CONSIDERING THE ABOVE, IT APPEARS THAT THE ASSESSEE IS NOT INTERESTED IN PROS ECUTING ITS APPEAL. WE, THEREFORE, DISMISS THE APPEAL FILED BY THE ASSESSEE FOR NON-PR OSECUTION. 3. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS D ISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 4 TH DAY OF JUNE, 2018. SD/- SD/- WASEEM AHMED RAJPAL YADAV (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) AHMEDABAD, THE 4 TH DAY OF JUNE, 2018 PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPOND ENT (3) CIT (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER UE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD