A.C.I.T.. AKOLA CIRCLE, Akola V. THE AKOLA DISTRICT CENTRAL CO-OP BANK LTD, Akola

MA 2/NAG/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4365 (ITAT-NAGPUR)
• Duration Of Justice: 2 month(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-04-2016
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 15-04-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 02-02-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R MOHANKUMAR
• Assessee Lawyers: J M RANADE

Judgement Text

IN TH E INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH: NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. M.A.NO. 0 2 /NAG/2016 ( IN ITA NO. 454 /NAG/201 3 : AY : 20 10 - 11 ) THE ASSISTANT COMMISSIONER OF INCOME TAX , AKOLA C IRCLE, MURTIZAPUR RD, AKOLA VS THE AKOLA DIST. CENTRAL CO - OP BANK LTD., CIVIL LINES, AKOLA PAN: - AAAT1093P (APPLIC ANT) (RESPONDENT) APPLICANT BY SHRI R. MOHANKUMAR, D.R. RESPONDENT BY SHRI J.M. RANADE, A.R. DATE OF HEARING : - 1 5 /04/2016 DATE OF P RONOUNCEMENT: - 29 / 0 4 /2016 O R D E R PER SHRI SHAMIN YAHYA, A.M . T H IS MISCELLANEOUS APPLICATION BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF TH IS TRIBUNAL IN ITA NO. 454 /NAG/201 3 FOR A SSESSMENT Y EAR 20 1 0 - 11 VIDE ORDER DT. 11 /0 9 /201 5 . 2. IN THIS CASE IN MISCELLANEOUS APPLICATION, THE REVENUE HAS SUBMITTED AS UNDER: - THIS MISCELLANEOU S APPLI C ATION I S MO V ED FOR T HE REASON THAT IN IT A NO . 454/NAG / 2013 IN TRIBUNAL'S ORDER DAT E D 11 / 09 / 2015 , IN PARA 2 OF HON ' BLE TRIBUNAL H AS P OI N TE D OUT THAT ASSESSEE ' S APPE AL ON THE ISSUE OF ADDITION ON ACCOUNT OF INT E REST ACCRUED ON N P A H AS BEEN REMITTED TO THE FILE OF THE AO FOR A . Y . 2010 - 11 V IDE ORDER IN IT A N O . 424/ N AG / 20 1 3 D ATED 30 T H JUNE , 20 1 5 FOLLOWING EARLI E R Y E AR 'S TRIBUNAL ORDER . BUT VID E OR D ER N O . 424 / NAG/20 1 3, THE T RIBUNAL HAD RES TO RE D THE ISS UE BA C K T O T H E FILE O F L E A R N E D CIT( A ) TO BE DECIDED AS P ER TH E COOR DIN ATE B E N C H O RD ER D A TED 05 / 09 / 201 4 IN IT A NO . 1 661NAG / 20 1 0 FOR A . Y . 2007 - 08 IN ASS E S SEE ' S O WN CASE . THE FACT S OF THE CASE AR E NARR A T E D AS UND ER : IN T HI S CASE, LD. CIT(A) VIDE A PP ELLATE ORDER NO. C IT (A)/52 1 1 2 0 12 - 13 DATED 27/ 09 1 201 3 PARTLY A L LOWED T H E ASSESSEE 'S APPEAL ON TAXABILITY OF ACCRUED INTERE S T ON NP A RELYING U P ON THE C BD T CIRCULAR DATED 09 / 1 0 / 1984 AND DIRECT E D THE AO TO TAX O NL Y T H E AMOUNT OF INTEREST ON NPAS WHICH ARE OUT S TANDING FOR L ESS THAN T HREE YEAR S. D E P A R T M E N T A ND T H E ASSESSEE BANK BOT H HA D F IL ED AP P EAL AGAINST CIT(A )'S OR D ER B E FO RE YO U R H O N O U R . TH E ASSESSEE ' S AP P EAL WAS DISPOSE D VIDE ITA NO . 424 / NAG/201 3 D A T E D 3 0 1 0 6 / 20 1 5 A N D THE ISSUE WAS RES T O R ED BACK TO T H E FI L E OF T HE LD . C IT( A) FOLLOWING E ARLIER Y EAR 'S T R IBUNAL O R D ER. 2 MA NO. 0 2 /NAG/2016 (IN ITA NO. 454 /NAG/201 3 ) A.M.SIR.(MBODKHE,P.S.) N O W THE APP EA L FI L E D BY T H E D E P ART M E N T I S D ECI D E D B Y TRIBUN A L V ID E IT A NO . 454 / NAG / 2013 DATED 11 / 09/201 5 BUT TH E I SS UE I S REMITTED TO THE FILE OF THE AO . IT IS ALSO DIRECTE D T O CONSIDER TH E ISS UE AFR ES H AF TE R G IV ING T HE A SSESSEE PROP E R OPPO R TUN ITY OF BEING HEARD. THE RESTORATION OF I S SUE A T TH E S AME TIME TO THE F I L ES O F C IT (A) A ND AS S ESSI N G OFFICER HAS GI V EN RISE TO MISTAKE APPAREN T FR O M RECORD WITHIN T H E M E ANING OF PR OV I S I O N S OF SECTION 254 ( 2 ) OF THE INCOME TAX A CT 1961 . IT IS PERTIN E NT T O M E NTI O N H E R E T H AT TH E LD C IT (A) D EC ID E D TH E I SS U E R ESTO R E D BACK TO HIS FILE , VIDE ORDER DATED 2 3 / 09 / 2015 AND D E LETED THE ADDITION MAD E B Y TH E A O O N ACCOUNT OF INTEREST ACCRUED ON NPA S F O LLOWING TH E DECISION OF T H E HON ' BLE JU R I S DICTI O N A L HIGH COURT , AURANGABAD IN C ASE OF M / S D E OG IR I NAGARI SAHKARI B A NK LTD , AURANGABAD A ND HON ' BLE IT A T NAGPUR BENCH I N CA SE O F THE WA S H I M U RBAN CO - OP BANK LTD . IN IT A N O .233 / NAG /2 01 3 FOR A . Y . 2009 - 10 . IN T HE CIR C UM S T A N C E S , TH E D I R EC TI O N S O F T R IBUN A L T O TH E A S SESS ING O FFI CE R V ID E ORDER IN ITA NO . 454/NAG/2013 DATED 11 / 09 / 2015 FOR A . Y . 2010 - 11 APPEARS TO BE A TYPOGRAPHICAL MISTAKE . IT IS THEREFORE PRAYED TO THE HON ' BLE BENCH , ITAT NAGPUR TO AM E ND ORDER IN ITA NO . 454 / NAG/2013 DATED 11/09/2015 . 3. UPON HEARING BOTH THE COUNSEL , WE ARE IN AGREEMENT THE REVENUE, THERE IS A MISTAKE IN REMITT ING THE ISSUE TO THE FILE OF THE AO INSTEAD WITH THE FILE OF CIT(A). ACCORDINGLY, WE MODIFY OUR AFORESAID ORDER AND HOLD THA T IN PARAGRAPH 4 THE DIRECTION TO THE AO SHOULD BE CONSIDERED TO BE DIRECTION THE LD. CIT (A) . T HE ISSUE SHOULD CONSIDERED TO RE MITTED TO THE LD. CIT(A). 4 . IN THE RESULT, THIS MISCELLANEOUS APPLICATION STANDS ALLOWED AS ABOVE. ORDER PRONOUNC ED IN THE OPEN COURT ON THIS 29 TH DAY OF APRIL , 2016. SD/ - SD/ - (MUKUL K. SHRAWAT) ( SHAMIM YAHYA) JUDICIAL MEMBER ACCOUNTANT MEMBER NAGPUR, DATED: - 29/04 /2016. MANGESH BODKHE/P.S. 3 MA NO. 0 2 /NAG/2016 (IN ITA NO. 454 /NAG/201 3 ) A.M.SIR.(MBODKHE,P.S.) COPY FORWARDED TO : 1. THE AKOLA DIST. CENTRAL CO - OP BANK LTD., CIVIL LINES, AKOLA 2. RESPONDENT 3. C.I.T., CONCERNED 4. CIT (APPEALS ) - I, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR