The Karad Janata Sahakari Bank Lttd, Satara V. Income-tax Officer, Ward - 1, Satara

ITA 663/PUN/2019

AI Insights

The case involves The Karad Janata Sahakari Bank Ltd., the appellant, contesting an ex-parte order from the CIT(A)-13, Pune, concerning the assessment year 2014-15. The primary issues in the appeal were the disallowance under section 36(1)(viia) of the Income-tax Act, 1961, and depreciation on investment. The appellant argued that the CIT(A) had passed the order without granting an adequate opportunity of hearing. Both parties agreed to remit the matter back to the CIT(A) for a fresh hearing.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 137509 (ITAT-PUNE)
• Duration Of Justice: 11 year(s) 5 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 05-12-2022
• Assessment Year: misc
• Appeal Filed On: 28-06-2011
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Matter Remanded
• Court: TRIBUNAL
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER ITA No.663/PUN/2019 निर्धारण वर्ा / Assessment Year: 2014-15 The Karad Janata Sahakari Bank Ltd. 100/101, Karad Janata, Veeta Road, Near Shivaji Cloth Market, Karad, Satara – 415110 PAN : AAAAT7863R Vs. ITO, Ward 1, Satara Appellant Respondent आदेश / ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the ex-parte order dated 21.02.2019 passed by ld. CIT(A)-13, Pune in relation to assessment year 2014-15. 2. We have heard the rival submissions and gone through the relevant material on record. Two issues have been raised in this appeal, viz., Disallowance u/s 36(1)(viia) of the Income-tax Act, 1961 (hereinafter referred to as „the Act‟) and Depreciation on investment. At the outset, the ld. AR submitted that the ld. CIT(A) passed the ex-parte order without granting adequate opportunity of Assessee by: Smt. Deepa Khare Revenue by: Shri M.G. Jasnani Date of hearing 06-12-2022 Date of pronouncement 06-12-2022 ITA No.663/PUN/2019 The Karad Janata Sah. Bank Ltd. 2 hearing to the assessee. A request was made for sending the matter back to the ld. first appellate authority for disposing off the appeal afresh after hearing the assessee. No serious objection was taken by the ld. DR in this regard. In view of these facts, we set aside the impugned order and remit the matter to the file of ld. CIT(A) for disposal of appeal on merits after granting adequate opportunity of hearing to the assessee. 3. In the result, the appeal is allowed for statistical purposes. Order pronounced in the Open Court on 06 th December, 2022. Sd/- Sd/- (S.S.VISWANETHRA RAVI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; नदिधांक Dated : 06 th December, 2022 GCVSR आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपीलधर्थी / The Appellant; 2. प्रत्यर्थी / The Respondent; 3. The CIT(A)-13, Pune 4. 5. The Pr.CIT-3, Pune, नवभधगीय प्रनिनिनर्, आयकर अपीलीय अनर्करण, पुणे “B” / DR „B‟, ITAT, Pune 6. गधर्ा फधईल / Guard file आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अनर्करण ,पुणे / ITAT, Pune ITA No.663/PUN/2019 The Karad Janata Sah. Bank Ltd. 3 Date 1. Draft dictated on 06-12-2022 Sr.PS 2. Draft placed before author 06-12-2022 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *