Asstt. Commissioner of Income Tax-I, Kanpur V. M/s Bramhawart Commercial Co-operative Bank Ltd., Kanpur

ITA 38/LKW/2014

• Counselvise Citation: 3823714 RSA 2014
• Duration Of Justice: 1 year(s) 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 10-07-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 17-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARISH GIDWANI

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH B, LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA NO.38/LKW/2014 ASSESSMENT YEAR:2009 2010 ACIT 1, KANPUR VS. M/S BRAMHAWART COMMERCIAL CO OPERATIVE BANK LTD., MIG 90, RATAN LAL NAGAR, KANPUR 208002. PAN:AAATB1875C (APPELLANT) (RESPONDENT) ASSESSEE BY NONE REVENUE BY SHRI HARISH GIDWANI, SR. DR DATE OF HEARING 10/07/2015 DATE OF PRONOUNCEMENT 3 0 /07/2015 O R D E R PER A. K. GARODIA, A.M. THIS IS A REVENUES APPEAL DIRECTED AGAINST THE ORDER OF LEARNED CIT (A) II KANPUR DATED 23.10.2013 FOR A.Y. 2009 2010. 2. THE REVENUE HAS RAISED SEVERAL GROUNDS BUT THE ONLY GRIEVANCE OF THE REVENUE IS IN RESPECT OF DELETING OF ADDITION OF RS. 17,58,330/ - MADE BY THE A.O. ON ACCOUNT OF ACCRUED INTEREST ON NON PERFORMING ASSETS (NPA). 3. NONE APPEARED ON BEHALF OF THE ASSESSEE IN SPITE OF NOTICE AND HENCE, WE DECIDE THIS APPEAL EX PARTE QUA TH E ASSESSEE. LEARNED DR OF THE REVENUE SUPPORTED THE ASSESSMENT ORDER. 4. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LEARNED DR OF THE REVENUE AND GONE THROUGH THE ORDERS OF THE LOWER AUTHORITIES. WE FIND THAT LEARNED CIT (A) HAS FOLLOWED ONE JUDGMENT OF H ONBLE DELHI HIGH COURT RENDERED IN 2 THE CASE OF DIT VS. BRAHAMPUTRA CAPITAL FINANCIAL SERVICES LIMITED, 335 ITR 182 IN ADDITION TO THREE OTHER JUDICIAL PRONOUNCEMENTS. AS PER THIS JUDGMENT OF AS HONBLE DELHI HIGH COURT, IF THE LOAN IN QUESTION IS CLASSIFI ED AS NPA IN TERMS OF GUIDELINES ISSUED BY RBI, INTEREST DOES NOT ACCRUE SINCE RECOVERY OF THE PRINCIPLE AMOUNT ITSELF IS IN DOUBT. RESPECTFULLY FOLLOWING THIS JUDGMENT, WE DECLINE TO INTERFERE IN THE ORDER OF CIT (A). 5. IN THE RESULT, THE APPEAL OF THE R EVENUE IS DISMISSED. (ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE) SD/. SD/. (SUNIL KUMAR YADAV) ( A. K. GARODIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 3 0 /07/2015 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW ASSTT. REGISTRAR