DCIT/ACIT, LTU-1, Kolkata, Kolkata V. M/s. United Bank of India, Kolkata

ITA 805/KOL/2017

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 7861 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 21-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MD USMAN
• Section: 115JB

Judgement Text

1 ITA NO. 805/KOL/2017 & CO. 46/KOL/2017 UNITED BANK OF INDIA, AY 2004-05 , B , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: KOL KATA ( ) . . , . ' # $% % , '( ) [BEFORE SHRI A. T. VARKEY, JM & DR. A. L. SAINI, A M] I.T.A. NO. 805/KOL/2017 ASSESSMENT YEAR: 2004-05 DEPUTY COMMISSIONER OF INCOME- TAX/ASSISTANT COMMISSIONER OF INCOME- TAX, LTU-1, KOLKATA. VS. UNITED BANK OF INDIA (PAN: AAACU5624P) APPELLANT RESPONDENT & CO. NO. 46/KOL/2017 IN I.T.A. NO. 805/KOL/2017 ASSESSMENT YEAR: 2004-05 UNITED BANK OF INDIA VS. ASSISTANT COMMISSIONER OF INCOME-TAX, LTU-1, KOLKATA. CROSS OBJECTOR RESPONDENT DATE OF HEARING 19.09.2018 DATE OF PRONOUNCEMENT 27.09.2018 FOR THE REVENUE MD. USMAN, CIT, DR FOR THE ASSESSEE/CROSS OBJECTOR SHRI SOUMITRA CHOUDHURY, ADVOCATE ORDER PER SHRI A.T.VARKEY, JM THE APPEAL PREFERRED BY THE REVENUE AND THE CROSS O BJECTION PREFERRED BY THE ASSESSEE ARE AGAINST THE ORDER OF LD. CIT(A)-17, KO LKATA DATED 23.12.2016 FOR AY 2004-05. 2. AT THE OUTSET ITSELF, IT WAS BROUGHT TO OUR NOTI CE BY THE LD. AR THAT THE ONLY ISSUE RAISED BY THE REVENUE IS AGAINST THE ACTION OF THE LD. CIT(A) IN ALLOWING THE CLAIM OF THE 2 ITA NO. 805/KOL/2017 & CO. 46/KOL/2017 UNITED BANK OF INDIA, AY 2004-05 ASSESSEE BANK BY FOLLOWING THE ORDER OF THE TRIBUNA L DATED 30.12.2015 IN ASSESSEES OWN CASE IN ITA NO. 1916/KOL/2012 AND ITA NO. 113/KOL/2 013 FOR AY 2009-10 WHEREIN THE TRIBUNAL HELD THAT THE PROVISIONS OF SECTION 115JB OF THE ACT READ WITH EXPLANATION 3 TO SEC. 115JB OF THE ACT IS NOT APPLICABLE. WE NOTE THAT T HE LD. CIT(A) HAS FOLLOWED THE ORDER OF THE TRIBUNAL ON THE VERY SAME ISSUE AND HAS GIVEN R ELIEF TO THE ASSESSEE BANK. WE NOTE THAT IN ASSESSEES OWN CASE FOR AY 2003-04 IN ITA NO. 11 78/KOL/2007 AND ALSO IN ASSESSEES OWN CASE FOR AY 2009-10 IN ITA NO. 1916/KOL/2012 A ND THE TRIBUNAL HAD ALSO FOR AY 2002-03 HAS BEEN CONSISTENTLY FOLLOWING THAT THE PR OVISION OF SEC. 115JB OF THE ACT ARE NOT APPLICABLE IN THE CASE OF THE ASSESSEE BANK AND FUR THER HELD THAT THE AMENDMENT BROUGHT IN SEC. 115JB OF THE ACT READ WITH EXPLANATION 3 THERE OF BY THE FINANCE ACT, 2012 IS APPLICABLE ONLY W.E.F. AY 2013-14 ONWARDS IN ACCORDANCE TO THE NOTES TO FINANCE ACT, 2012. WE NOTE THAT THE LD. CIT(A) HAS FOLLOWED THE JUDICIAL PRECE DENT LAID BY THIS TRIBUNAL, THEREFORE, WE ARE INCLINED TO UPHOLD HIS ACTION AND, THEREFORE, D ISMISS THE APPEAL OF THE REVENUE. 3. CROSS OBJECTION OF THE ASSESSEE IS SUPPORTIVE IN NATURE AND, THEREFORE, IS DISMISSED BEING INFRUCTUOUS. 4. IN THE RESULT, BOTH THE APPEAL OF REVENUE AND CR OSS OBJECTION OF ASSESSEE ARE DISMISSED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 27TH SEPT EMBER, 2018. SD/- SD/- (DR. A. L. SAINI) (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 27TH SEPTEMBER, 2018 JD.(SR.P.S.) 3 ITA NO. 805/KOL/2017 & CO. 46/KOL/2017 UNITED BANK OF INDIA, AY 2004-05 COPY OF THE ORDER FORWARDED TO: 1. APPELLANT DCIT/ACIT, LTU-1, KOLKATA 2 RESPONDENT M/S. UNITED BANK OF INDIA, 16, OLD C OURT HOUSE STREET, DALHOUSIE, KOLKATA-700 001. 3. 4. 5. CIT(A)-17, KOLKATA (SENT THROUGH E-MAIL) CIT, KOLKATA. DR, ITAT, KOLKATA. (SENT THROUGH E-MAIL) / TRUE COPY, BY ORDER, SR. PVT. SECRETARY