ITO, BARAN V. BARAN KENDRIYA SAHAKARI BANK LTD., BARAN

MA 47/JPR/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5887 (ITAT-JAIPUR)
• Duration Of Justice: 5 month(s) 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-10-2017
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 19-04-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Assessee Lawyers: RAJESH KUMAR JAIN C A DHK
• Keywords: Tax effect

Judgement Text

A` VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH HKKXPUN] YS[KK LNL; ,OA JH DQY HKKJR] U;KF;D LNL ; DS LE{K BEFORE: SHRI BHAGCHAND, AM & SHRI KUL BHARAT, AM M.A. NO. 47/JP/2017 (ARISING OUT IF ITA NO. 164/JP/2014) FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2008-09. THE ACIT, CIRCLE- 2, KOTA. CUKE VS. BARAN KENDRIYA SAHAKARI BANK LTD., SAHAKAR BHAWAN, BARAN. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AAALB 0443 J VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY : SHRI R.A. VERMA (ADDL. CIT) FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI RAJESH KUMAR JAIN (C.A) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 13.10.2017. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 17/10/2017. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THIS MISCELLANEOUS APPLICATION BY THE REVENUE ARISE OUT OF THE ORDER OF THE TRIBUNAL IN ITA NO. 164/JP/2014 DATED 17.12.2015 SE EKING RECALLING OF THE TRIBUNALS ORDER. THE LD. D/R SUBMITTED THAT THE APPEAL WAS D ISMISSED ON ACCOUNT OF LOW TAX EFFECT BUT THE TAX INVOLVED IS HIGHER THAN THE MONE TARY LIMIT. THEREFORE, HE PRAYED THAT THE ORDER DATED 17.12.2015 MAY BE RECALLED. 2. THE LD. COUNSEL FOR THE ASSESSEE COULD NOT CONTR OVERT THIS BY PLACING ANY CONTRARY MATERIAL. 3. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. THE CONTENTION OF THE REVENUE AS MENTIONED IN THE MISCELLANEOUS APPLICATION IS AS UNDER :- 2 MA NO. 47/JP/2017 BARAN KENDRIYA SAHAKARI BANK LTD. AS IT CAN BE SEEN FROM THE GROUND OF APPEAL ITSEL F THE DEPARTMENT FILED APPEAL BEFORE THE HONBLE ITAT AGAINST THE OR DER OF THE CIT (A), KOTA FOR DELETING PENALTY OF RS. 10,68,605/- U/S 27 1(1)(C) OF THE I.T. ACT, 1961. IN THE ASSESSMENT YEAR 2008-09, THE AO H AD IMPOSED PENALTY OF RS. 10,68,605/- U/S 271(1)(C) OF THE I.T . ACT, 1961 VIDE ORDER DATED 22.05.2012. THUS, THE TAX EFFECT INVOLV ED IN THE CASE COMES TO RS. 10,68,605/-. THEREFORE, THERE IS APPAR ENT MISTAKE ON THE ORDER OF THE HONBLE ITAT. HENCE, IN VIEW OF SECTIO N 254(2) OF THE I.T. ACT, 1961, IT IS PRAYED THAT THE ORDER DATED 17.12. 2015 IN ITA NO. 164/JP/14 MAY KINDLY BE RECALLED AND ALSO THE APPEA L MAY KINDLY BE DECIDED ON MERIT. IN VIEW OF THE ABOVE POSITION, WE RECALL OUR ORDER DATED 17.12.2015 TO BE DECIDED AFRESH ON MERIT. THE REGISTRY IS DIRECTED TO FIX T HE APPEAL IN DUE COURSE OF TIME. 4. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE REVENUE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 17/10/2017 . SD/- SD/- HKKXPUN ( DQY HKKJR ) ( BHAGCHAND ) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 17/10/2017. DAS/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE ACIT, CIRCLE-2, KOTA. 2. THE RESPONDENT- M/S. BARAN KENDRIYA SAHAKARI BAN K LTD., KOTA. 3. THE CIT(A). 4. THE CIT, 5. THE DR, ITAT, JAIPUR 6. GUARD FILE ( M.A. 47/JP/2017) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR 3 MA NO. 47/JP/2017 BARAN KENDRIYA SAHAKARI BANK LTD.