The Ahmedabad Mercantile Co. Op. Bnak Ltd., Ahmedabad V. ACIT, Circle-5(2), Ahmedabad

ITA 868/AHD/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7324 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 9 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 09-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: JAYDEEP NAGRI
• Keywords: Tax effect; Set aside
• Section: 143(3); 263

Judgement Text

ITA NO. 868/AHD/2018 THE AHMEDABAD MERCANTILE COOP BANK LTD VS. ACIT AY : 2014-15 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH D, AHMEDABAD [CORAM: JUSTICE P P BHATT, PRESIDENT, AND AMARJIT S INGH, ACCOUNTANT MEMBER] ITA NO. 868/AHD/2018 ASSESSMENT YEAR: 2014-15 THE AHMEDABAD MERCANTILE CO-OP BANK LTD .......... .....APPELLANT C/O. MUKESH M PATEL & CO., 3-4, VITHALBHAI BHAVAN, NR SP COLONY RLY CROSSING, AHMEDABAD [PAN : AAAAT 0518 P] VS ASSTT. COMMISSIONER OF INCOME-TAX ........... .........RESPONDENT CIRCLE 5(2), AHMEDABAD APPEARANCES BY SHRI JAYDEEP NAGRI, FOR THE ASSESSEE SHRI VINOD TANWANI, SR DR, FOR THE REVENUE DATE OF CONCLUDING THE HEARING : JANUARY 29, 2020 DATE OF PRONOUNCEMENT : JANUARY 30, 2020 O R D E R PER JUSTICE P P BHATT, PRESIDENT : 1. BY WAY OF THIS APPEAL, THE ASSESSEE-APPELLANT HA S CHALLENGED CORRECTNESS OF THE ORDER DATED 18 TH JANUARY 2018 PASSED BY THE LEARNED CIT(A)-5, AHMEDABAD, IN THE MATTER OF ASSESSMENT UN DER SECTION 143(3) OF THE INCOME-TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2014- 15. 2. AT THE TIME OF HEARING, IT IS NOTICED THAT THE A SSESSEE HAS FILED A LETTER DATED 28.01.2020 SEEKING PERMISSION FOR WITHDRAWAL OF APPEAL ON THE GROUND THAT LEARNED PCIT-5, VIDE HIS ORDER DATED 28.03.201 9 PASSED UNDER SECTION 263 OF THE ACT, HAS SET ASIDE THE ORIGINAL ASSESSMENT D IRECTING THE ASSESSING OFFICER TO PASS A FRESH ASSESSMENT ORDER. THE LEAR NED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION TO THE WITHDRAWAL O F THE APPEAL FILED BY THE ITA NO. 868/AHD/2018 THE AHMEDABAD MERCANTILE COOP BANK LTD VS. ACIT AY : 2014-15 PAGE 2 OF 2 ASSESSEE. IN VIEW OF THESE FACTS, WE ALLOW THE WITH DRAWAL OF THE APPEAL FILED BY THE ASSESSEE AND, ACCORDINGLY, APPEAL OF THE ASS ESSEE IS DISMISSED AS WITHDRAWN. 3. IN THE RESULT, THE APPEAL IS DISMISSED AS INDIC ATED ABOVE. PRONOUNCED IN THE OPEN COURT TODAY ON THE 30 TH JANUARY, 2020. SD/- SD/- AMARJIT SINGH JUSTICE P P BHATT (ACCOUNTANT MEMBER) (PRESIDENT) AHMEDABAD, DATED THE 30 TH DAY OF JANUARY, 2020 BT* COPIES TO: (1) THE APPELLANT (2) THE RESPOND ENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD 1. D ATE OF DICTATION: ...LOW TAX EFFECT...29.01.2020.. 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE D ICTATING MEMBER: .. 29.01.2020....... 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P. S./P.S.: .29.01.2020........ 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DI CTATING MEMBER FOR PRONOUNCEMENT:30.01.20 5. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK : .. ..30.01.2020.. 6. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK : 3 0.01.2020. 7. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGIST RAR FOR SIGNATURE ON THE ORDER: ... 8. DATE OF DESPATCH OF THE ORDER: ......