The ITO, Wd-2, Kollam, Kollam V. M/s.Pidavoor Service Co-op bank Ltd, Kollam

MA 205/COCH/2021

AI Insights

The case before the Income Tax Appellate Tribunal Cochin Bench involved a miscellaneous petition by the Revenue against the Pidavoor Service Co-Operative Bank Ltd., concerning an assessment for the year 2015-16. The Revenue sought to withdraw its petition following a relevant decision by the Supreme Court, which influenced the Tribunal's decision to dismiss the petition as withdrawn. Both parties were represented, and there were no objections from the respondent's counsel regarding the withdrawal of the petition.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115495 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 10 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-08-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 29-09-2021
• Other Referred Cases: Mavilayi Service Co-operative Bank Ltd. v. CIT [2021] 431 ITR 1 (SC)
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SANTOSH P. ABRAHAM

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, AccountantMemberand Shri Manomohan Das, JudicialMember MPNo. 205/Coch/2021 (Arising out of ITA No. 146/Coch/2019) (Assessment Year: 2015-16) The Income Tax Officer Ward -2, Kollam vs. Pidavoor Service Co- Operative Bank Ltd. Pidavoor Post, Pathanapuram Kollam 689695 [PAN:AACAP7516M] (Applicant) (Respondent) Applicant by: Smt. J.M. Jamuna Devi, Sr. D.R. Respondent by: Sh. Santosh P. Abraham, Adv. Date of Hearing: 18.08.2023 Date of Pronouncement:18.08.2023 O R D E R Per: Sanjay Arora, AM This Miscellaneous Petition by the Revenue is directed against the Order by the Tribunal dated 20.5.2019 under section 254(1) of Income Tax Act, 1961 (hereinafter ‘the Act’), allowing for statistical purposes the Revenue appeal in respect of the assessee respondent’s assessment for Assessment Year (AY) 2015-16. 2. At the outset, Smt. Smt. J.M. Jamuna Devi, the learned Sr. DR, informed the Bench that Revenue prays for withdrawal of its instant miscellaneous application in view of the decision by the Hon'ble Apex Court in Mavilayi Service Co-operative Bank Ltd.v. CIT[2021] 431 ITR 1 (SC), and an application to this effect dated 25.07.2023 has been made to the Tribunal. Copy of the same, received in this office on 26.07.2023, is on record. Sh. Abraham, the ld. counsel for the assessee, on being asked, clarified to have no objection to the said withdrawal. MP No. 205/Coch/2021 ITO v. Pidavoor Service Co-operative Bank Ltd. 2 3. We, under the circumstances, dismiss the Revenue’s miscellaneous petitionas withdrawn. Order pronounced on August 18, 2023 in the open court on the conclusion of the hearing. Sd/- Sd/- (Manomohan Das) (Sanjay Arora) Judicial Member Accountant Member Cochin, Dated: August 18, 2023 Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT concerned 4. The DR, ITAT, Cochin 5. Guard File By Order Assistant Registrar ITAT, Cochin n.p.