State Bank of Travancore, Trivandrum V. ACIT, Trivandrum

ITA 265/COCH/2009

• Counselvise Citation: [2010] 135 COUNSELVISE.COM (IT) 7558 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-11-2010
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 1997-1998
• Appeal Filed On: 12-05-2009
• Court: TRIBUNAL
• Keywords: Capital expenditure

Judgement Text

IN THE INCOME TAX APPELLAT E TRIBUNAL COCHIN BEN CH, COCHIN BEFORE S/SHRI N.VIJAYAKUMARAN, JM AND SANJAY AR ORA, AM I.T.A. NOS. 265 & 266/COCH/2009 ASSESSMENT YEARS : 1997-98 AND 2004-05 STATE BANK OF TRAVANCORE, POOJAPURA, TRIVANDRUM. [PAN:AAGCS 9120G] VS. THE ASSISTANT COMMISSIONER OF INCOME-TAX,RANGE1(1), TRIVANDRUM (ASSESSEE -APPELLANT) (REVENUE- RESPONDENT) ASSESSEE BY WRITTEN SUBMISSION FILED BY AR REVENUE BY DR. BABU JOSEPH, SR. DR O R D E R PER SANJAY ARORA, AM: THESE ARE A SET OF TWO APPEALS BY THE ASSESSEE, DI RECTED AGAINST THE ORDERS BY THE COMMISSIONER OF INCOME-TAX (APPEALS)-I, TRIVANDRUM (CIT(A) FOR SHORT) IN ITS CASE FOR THE ASSESSMENT YEARS (A.YS.) 1997-98 & 2004-05, OF EVEN DATE, I.E., 4.2.2009. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE, A PUBLI C SECTOR BANK, WHICH PREFERRED WRITTEN SUBMISSIONS INSTEAD, REQUESTING FOR ITS APPEALS TO BE DECIDED ON THE BASIS THEREOF. 3. AT THE VERY OUTSET, IT WAS OBSERVED BY THE BENCH THAT PER ITS WRITTEN SUBMISSIONS, THE ASSESSEE HAD CONCEDED OF HAVING BEEN DENIED PERMISS ION BY THE COMMITTEE ON DISPUTES (COD) TO PURSUE ITS APPEAL FOR A.Y. 1997-98, AND O N ALL THE ISSUES, SAVE ONE, FOR A.Y. 2004- 05, ALSO ENCLOSING ALONG WITH THE COPY OF THE RELEV ANT MINUTES (DATED 17.11.2009) OF ITS MEETING HELD ON 29.10.2009. FURTHER, THE ONLY ISSU E FOR A.Y. 2004-05, FOR WHICH IT HAD BEEN ALLOWED PERMISSION TO PURSUE ITS APPEAL BEFORE THE TRIBUNAL, RELATES TO PUBLIC ISSUE EXPENSES, AND WHICH STANDS DECIDED BY THE TRIBUNAL IN ITS OWN CASE FOR THE IMMEDIATELY PRECEDING YEAR, I.E., A.Y. 2003-04, AGAINST IT, VIDE ITS ORDER DATE D 10.9.2009 (PLACED AS ANNEXURE 2 OF THE WRITTEN SUBMISSIONS). ITA.NOS. 265 & 266/COCH./2009 2 4. WE HAVE HEARD THE LD. DR IN THE MATTER, AND PERU SED THE MATERIAL ON RECORD. THE ASSESSEE-APPELLANT BEING PUBLIC SECTOR UNDERTAKING OF THE GOVERNMENT OF INDIA, IT IS INCUMBENT ON IT TO OBTAIN PERMISSION FROM THE COD FOR PROSECU TING ITS APPEALS BEFORE THE TRIBUNAL IN TERMS OF THE DECISION BY THE HONBLE APEX COURT. T HE SAID PERMISSION STANDS GRANTED ONLY IN RESPECT OF ITS CLAIM QUA THE PUBLIC ISSUE EXPENSES IN THE SUM OF ` 222.12 LAKHS FOR A.Y. 2004- 05 (GROUND # 1), AND WHICH STANDS DISALLOWED BY THE ASSESSING OFFICER AS CAPITAL EXPENDITURE, FOLLOWING THE DECISION IN THE CASE OF BROOKE BOND INDIA LTD., 225 ITR 798 (SC). THE TRIBUNAL HAS ALSO LIKE-WISE CONFIRMED THE SAME FOR THE IMMED IATELY PRECEDING YEAR. THE ASSESSEES CASE IS, THEREFORE, WITHOUT MERITS. WE DECIDE ACCO RDINGLY. 5. IN THE RESULT, ASSESSEES APPEAL IN I.T.A. NO. 2 65/COCH/2009 IS DISMISSED AS NOT MAINTAINABLE AND ITS APPEAL IN I.T.A. NO. 266/COCH/ 2009 IS PARTLY DISMISSED AS NOT MAINTAINABLE AND PARTLY DISMISSED ON MERITS. SD/- SD/- (N.VIJAYAKUMARAN) (SANJ AY ARORA) JUDICIAL MEMBER ACCOU NTANT MEMBER PLACE: ERNAKULAM DATED : 22ND NOVEMBER, 2010 GJ COPY TO: 1. STATE BANK OF TRAVANCORE, POOJAPURA, TRIVANDRUM. 2. THE ASSISTANT COMMISSIONER OF INCOME TAX, RANGE- 1(1), TRIVANDRUM. 3. THE COMMISSIONER OF INCOME-TAX(APPEALS)-I, TRIVA NDRUM 4. THE COMMISSIONER OF INCOME-TAX, TRIVANDRUM. 5. D.R./I.T.A.T., COCHIN BENCH, COCHIN. 6. GUARD FILE. BY ORDER (ASSISTANT REGISTRAR) ITA.NOS. 265 & 266/COCH./2009 3