Mahalaxmi Co-op Bank Ltd, Kolhapur V. Assistant Commissioner of Income tax,

ITA 2617/PUN/2016

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 4763 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 11 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-10-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 17-11-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHRI
• Assessee Lawyers: AJINKYA JOGAJE
• Keywords: Question of law

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI VIKAS AWASTHY, JM . / ITA NOS.2616 & 2617/PUN/2016 / ASSESSMENT YEARS : 2012-13 & 2013-14 SHRI MAHALAXMI CO-OP. BANK LTD., 167-B, MANGALWAR PETH, KOLHAPUR 416 012 PAN : AAATS3679R /APPELLANT VS. ACIT, CIRCLE-1, KOLHAPUR . / RESPONDENT ASSESSEE BY : SHRI AJINKYA JOGAJE REVENUE BY : SHRI PANKAJ GARG / DATE OF HEARING : 29.10.2018 / DATE OF PRONOUNCEMENT: 29.10.2018 / ORDER PER R.S.SYAL, VP : THESE TWO APPEALS BY THE ASSESSEE RELATING TO ASSESSM ENT YEARS 2012- 13 AND 2013-14 INVOLVE COMMON ISSUE. THESE ARE, THEREFOR E, CLUBBED FOR DISPOSAL BY THIS CONSOLIDATED ORDER FOR THE SAKE OF CONVENIENCE. 2. THE ONLY GROUND RAISED BY THE ASSESSEE IN THESE AP PEALS IS AGAINST RESTRICTING THE DEDUCTION U/S. 36(1)(VIIA) TO THE EXTENT OF PROVISION IN T HE BOOKS OF ACCOUNT. 3. AT THE OUTSET, LD. AR SUBMITTED THAT SIMILAR ISSUE HAS BEEN DECIDED AGAINST THE ASSESSEE BY THE TRIBUNAL IN THE PRECEDING YE ARS. HE SUBMITTED THAT THE HONBLE HIGH COURT HAS ADMITTED THE ASSESSEE S GROUND AGAINST THE TRIBUNAL ORDER ON THIS ISSUE. A PRAYER WAS, THEREFORE, MAD E TO KEEP THE ISSUE ALIVE AND AWAIT THE DECISION OF THE HONBLE HIGH COURT ON THIS ISSUE. ITA NOS.2616 & 2617/PUN/2016 MAHALAXMI CO-OP. BANK LTD., 2 4. IN VIEW OF THE FACT THAT SIMILAR ISSUE HAS BEEN DECIDED EARLIER AGAINST THE ASSESSEE BY THE TRIBUNAL, RESPECTFULLY FOLLOWING THE PR ECEDENT, WE UPHOLD THE IMPUGNED ORDERS IN RESTRICTING THE CLAIM OF DEDUCTION U /S.36(1)(VIIA) TO THE EXTENT OF PROVISION IN THE BOOKS OF ACCOUNT. 5. CHAPTER XIV-A OF THE INCOME-TAX ACT DEALS WITH THE PROVISION FOR AVOIDING REPETITIVE APPEALS. IT HAS ONLY ONE SECTION 158A WHICH CONTAINS A PROCEDURE WHEN ASSESSEE CLAIMS THAT IDENTICAL QUESTION OF LAW IS PENDING BEFORE HIGH COURT OR SUPREME COURT. IN THE INSTANT CASE THE ASSESSEE WANTS TO KEEP THE MATTER ALIVE TILL THE DECISION OF THE HON'BLE HIG H COURT ON THE SAID ISSUE. WE, THEREFORE, ADMIT, IN TERMS OF SEC. 158A(3), THAT THE QUESTION OF LAW ARISING IN THE INSTANT APPEAL, IS IDENTICAL WITH THE QUESTION OF LAW STATED TO BE PENDING BEFORE THE HON'BLE HIGH COURT. RESULTANTLY THE AP PEALS OF THE ASSESSEE ARE DISMISSED AS PER SEC. 158A(4). IT IS, HOWEVER, MADE CLEAR THAT WHEN THIS ISSUE IS DECIDED BY THE HON'BLE HIGH COURT, AMEN DMENT, IF NECESSARY, SHALL BE MADE AS PER THE MANDATE OF SEC. 158A(5). 6. IN THE RESULT, THE APPEALS ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH OCTOBER, 2018. SD/- SD/- (VIKAS AWASTHY) (R.S.SYAL) /JUDICIAL MEMBER / VICE PRESIDENT PUNE; DATED : 29 TH OCTOBER, 2018 ITA NOS.2616 & 2617/PUN/2016 MAHALAXMI CO-OP. BANK LTD., 3 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. ( ) / THE CIT(A)-1, KOLHAPUR 4. 5. THE CIT-I, KOLHAPUR , , / DR B, ITAT, PUNE; 6. / GUARD FILE. / BY ORDER, / TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE.**