ACIT, Circle-2(3), Hyderabad V. M/s. The AP Mahesh Co-operative Bank Ltd, Hyderabad

ITA 863/HYD/2011

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 53795 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-12-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 10-05-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V SRINIVAS
• Assessee Lawyers: B SATYANARAYANA MURTHY

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO.863/HYD/2011 ASSESSMENT YEAR 2007-08 THE ACIT, CIRCLE 2(3), HYDERABAD VS THE AP MAHESH COOPERATIVE BANK LTD., HYDERABAD. (PAN AABAT 4652 K) APPELLANT RESPONDENT APPELLANT BY : SHRI V. SRINIVAS RESPONDENT BY : SHRI B. SATYA NARAYANA MURTHY DATE OF HEARING : 30.11.2011 DATE OF PRONOUNCEMENT : 2.12.2011 ORDER PER BENCH: THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED AG AINST THE ORDER PASSED BY THE CIT(A) VIJAYAWADA DATED 21 .3.2011 AND IT PERTAINS TO THE ASSESSMENT YEAR 2007-08. 2. AT THE TIME OF HEARING THE LEARNED AUTHORIZED REPRESENTATIVE FOR THE ASSESSEE HAS STATED THAT THE ISSUE IN DISPUTE HAS ALREADY BEEN ADJUDICATED BY THE TRIBUNA L, HYDERABAD B BENCH VIDE ITS ORDER DATED 9.10.200 9 IN THE CASE OF ACIT CIRCLE 2(2), HYDERABAD VS.M/S MAHESH CO-OPE RATIVE URBAN BANK LTD., HYDERABAD IN ITA NO.775/HYD/2009 AND DECIDED THE ISSUE IN FAVOUR OF THE ASSESSEE. THERE FORE, HE REQUESTED THE APPEAL FILED BY THE REVENUE MAY BE DI SMISSED. 3. ON THE CONTRARY, THE LEARNED DEPARTMENTAL REPRE SENTATIVE RELIED ON THE ORDER OF THE ASSESSING OFFICER. ITA NO.863/HYD/2011 M/S MAHESH COOPERATIVE URBAN B. LTD., HYD. 2 4. AFTER HEARING BOTH THE PARTIES AND PERUSING THE ORDER PASSED BY THE REVENUE AUTHORITIES ALONG WITH THE OR DER PASSED BY THE TRIBUNAL, HYDERABAD B BENCH (SUPRA), WE ARE OF THE CONSIDERED OPINION THAT THE ISSUE IN DISPUTE HAS AL READY BEEN ADJUDICATED AND DECIDE IN FAVOUR BY THIS BENCH. 5. RESPECTFULLY FOLLOWING THE ORDER OF THIS TRIBUN AL, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. 6. IN THE RESULT, THE APPEAL FILED BY THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT O N: 2.12.2011 SD/- SD/- (CHANDRA POOJARI) ( H.S. SIDHU ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED THE 2ND DECEMBER, 2011 COPY FORWARDED TO: 1. THE ACIT, CIRCLE 2(3), HYDERABAD 2. M/S THE AP MAHESH COOPERATIVE BANK LTD., 5-3-989, 3 RD FLOOR, SHERZA ESTATES, NIZAM SHAHI ROAD, HYDERABAD. 3. THE CIT(A) VIJAYAWADA & HYDERABAD 4. THE CIT, HYDERABAD 5. THE DR, ITAT, HYDERABAD NP/