SANGLI SAHAKARI BANK LTD, MUMBAI V. DCIT 1(3), MUMBAI

ITA 3562/MUM/2013

• Counselvise Citation: 356219914 RSA 2013
• Duration Of Justice: 1 year(s) 9 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-02-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2008-2009
• Appeal Filed On: 06-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NEIL PHILIP
• Assessee Lawyers: RAHUL K HAKANI
• Keywords: Rectification of order; Opportunity of being heard; Condonation of delay
• Section: 234B

Judgement Text

, , , , , ,, , , IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI , , ! BEFORE SHRI JOGINDER SINGH, JUDICIAL MEMBER, AND SHRI RAJENDRA, ACCOUNTANT MEMBER ITA NO.3562/MUM/2013 ASSESSMENT YEAR: 2008-09 SANGLI SAHAKARI BANK LTD. , SANGLI SAHAKARI BHAVAN, 151, K. BHOLE ROAD, DADAR(W), MUMBAI-400028 ' ' ' ' / VS. DY. C.I.T. - 1(3), AAYAKAR BHAVAN, M.K.MARG, MUMBAI-400020 ( ' %&' /ASSESSEE) ( / REVENUE) P.A. NO.AADAS0278E ' %&' ( ) ( ) ( ) ( ) / // / ASSESSEE BY): SHRI RAHUL K. HAKANI ( ) ( ) ( ) ( ) / REVENUE BY SHRI NEIL PHILIP - DR ' ( '* / / / / DATE OF HEARING : 10/02/2015 + + + + ( '* /DATE OF ORDER 10/02/2015 + + + + / / / / O R D E R PER JOGINDER SINGH (JUDICIAL MEMBER) : THE ASSESSEE IS AGGRIEVED BY THE IMPUGNED ORDER DAT ED 27/11/2012 OF THE LD. FIRST APPELLATE AUTHORITY, MU MBAI. THE SUM AND SUBSTANCE OF THE GROUNDS RAISED BY THE ASSE SSEE PERTAINS TO NOT PROVIDING SUFFICIENT/EFFECTIVE OPPO RTUNITY OF BEING SANGLI SAHAKARI BANK LTD. 2 HEARD, TO THE ASSESSEE BY THE LD. COMMISSIONER OF I NCOME TAX (APPEALS). THOUGH THE ASSESSEE HAS ALSO CHALLENGED THE CONFIRMATION OF LEVY OF INTEREST U/S 234A, 234B AND 234C OF THE ACT ON THE PLEA THAT THE ASSESSEE EARNED INCOME ON THE LAST DAY OF THE PREVIOUS YEAR, THUS, THERE WAS NO LIABILITY FOR ADVANCE TAX. THE ASSESSEE HAS ALSO RAISED ADDITIONAL GROUND, WHI CH AS PER OUR VIEW IS MERELY AN ALTERNATIVE SUBMISSION TO THE MAI N GROUNDS. THE STAND OF THE ASSESSEE IS THAT ADDITIONAL EVIDEN CE WAS FILED BEFORE THE LD. COMMISSIONER OF INCOME TAX (APPEALS) WHICH COULD NOT BE APPRECIATED AND EVEN NO REMAND REPORT WAS CA LLED FOR FROM THE ASSESSING OFFICER. ON THE OTHER HAND, SHR I NEIL PHILIP, LD. DR, DEFENDED THE CONCLUSION ARRIVED AT IN THE I MPUGNED ORDER. 2. THERE IS DELAY OF 91 DAYS, FOR FILING THE APPEA L BEFORE THIS TRIBUNAL, FOR WHICH APPLICATION FOR CONDONATION OF DELAY HAS BEEN FILED BY THE ASSESSEE ON THE GROUND THAT THE CHARTE RED ACCOUNTANT OF THE ASSESSEE, MET WITH AN ACCIDENT, C AUSING DELAY IN FILING THE APPEAL. THE ASSESSEE HAS ALSO FILED A N AFFIDAVIT FROM THE SAID CHARTERED ACCOUNTANT IN SUPPORT OF ITS CON TENTION. THE LD. DR, OPPOSED THE CONDONATION OF DELAY. KEEPING IN VIEW, THE TOTALITY OF FACTS AND CIRCUMSTANCES AND THE AFFIDAV IT FILED BY THE ASSESSEE, WE ARE SATISFIED THAT THERE WAS A REASONA BLE CAUSE FOR THE DELAY, THUS, THE DELAY IS CONDONED. 2.1. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND P ERUSED THE MATERIAL AVAILABLE ON RECORD. THE FACTS, IN BRIEF, ARE THAT THE ASSESSEE IS A CO-OPERATIVE BANK, DECLARED INCOME OF RS.3,27,20,980/- IN ITS RETURN FILED ON 02/12/2008 WHICH WAS PROCESSED U/S 143(1) OF THE ACT DETERMINING DEMAND OF SANGLI SAHAKARI BANK LTD. 3 RS.1,32,10,762/- ON 14/03/2010. THE ASSESSEE FILED RECTIFICATION APPLICATION ON 03/05/2010 FOR GIVING CREDIT OF TDS AND S.A. TAX PAID. RECTIFICATION ORDER, DETERMINING INCOME AT RS.3,15,01,245/- WAS PASSED ON 31/03/2011. THE STA ND OF THE ASSESSEE IS THAT SINCE ASSESSEE BANK WAS HAVING LOS S AS ON 15/09/2007, 15/12/2007 AND 15/03/2008, THEREFORE, T HERE WAS NO LIABILITY FOR PAYMENT OF ADVANCE TAX. WITHOUT G OING INTO MUCH DELIBERATION, WE ARE OF THE VIEW, THAT SINCE ASSESS EE FILED ADDITIONAL DOCUMENTS BEFORE THE LD. CIT(A), TO WHIC H THE LD. COMMISSIONER OF INCOME TAX (APPEALS) NEITHER HIMSEL F EXAMINED THE SAME NOR CALLED ANY REMAND REPORT FROM THE ASSE SSING OFFICER, THEREFORE, TO SAFEGUARD THE INTEREST OF BO TH SIDES, THIS APPEAL IS REMANDED BACK TO THE FILE OF THE LD. COMM ISSIONER OF INCOME TAX (APPEALS) TO EXAMINE THE CLAIM OF THE AS SESSEE AND AFTER PROVIDING DUE OPPORTUNITY OF BEING HEARD, WIT H FURTHER LIBERTY TO FURNISH EVIDENCE, IF ANY, IN SUPPORT OF ITS CLAIM, BE PROVIDED TO THE ASSESSEE AND DECIDE IN ACCORDANCE W ITH LAW. THE APPEAL OF THE ASSESSEE IS, THEREFORE, ALLOWED FOR S TATISTICAL PURPOSES ONLY. FINALLY, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE ONLY. THIS ORDER WAS PRONOUNCED IN THE OPEN COURT IN THE PRESENCE OF LD. REPRESENTATIVES FROM BOTH SIDES, AT THE CONCLUSION OF THE HEARING, ON 10/02/2015 . SD/- (RAJENDRA) SD/- (JOGINDER SINGH) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; ,' DATED : 10/02/201 5 SANGLI SAHAKARI BANK LTD. 4 F{X~{T? P.S/. '.. + ( .'/ 0/1' + ( .'/ 0/1' + ( .'/ 0/1' + ( .'/ 0/1'/ COPY OF THE ORDER FORWARDED TO : 1. 23 / THE APPELLANT 2. .423 / THE RESPONDENT. 3. 5 ( ) / THE CIT, MUMBAI. 4. 5 / CIT(A)- , MUMBAI 5. /78 .'' , , / DR, ITAT, MUMBAI 6. 89% : / GUARD FILE. +' +' +' +' / BY ORDER, 4/' .' //TRUE COPY// ; ;; ;/ // /< < < < (DY./ASSTT. REGISTRAR) , , , , / ITAT, MUMBAI