Deputy Commissioner of Income-tax, Nandurbar V. Indira Mahila Sahakari Bank Ltd., Nandurbar

MA 58/PUN/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5908 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-11-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2007-2008
• Appeal Filed On: 19-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE , , , , BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI , AM M A. NO. 58 / PUN/2017 ARISI NG OUT OF ITA NO. 110/PUN/2015 / ASSESSMENT YEAR : 2007 - 08 THE DEPUTY COMMISSIONER OF INCOME TAX, DHULE. ....... / APPLICANT / V/S. M/S. INDIRA MAHILA SAHAKARI BANK LTD. SHRIRAM TOWER, STATION ROAD, NAGAR PARISHAD AREA, NANDURBAR. PAN : AAAAI0415Q / RESPONDENT APPELLANT BY : SHRI AJAY MODI RESPONDENT BY : SHRI PRAMOD SHINGTE RESPONDENT BY : SHRI PRAMOD SHINGTE / DATE OF HEARING : 10.11.2017 / DATE OF PRONOUNCEMENT : 29 .11.2017 / ORDER PER SUSHMA CHOWLA , JM THE APPLICANT/REVENUE HAS FILED THE PRESENT MISCELLANEOUS A PPLICATION AGAINST THE ORDER OF TRIBUNAL DATED 21.12.2016 . 2. THE GRIEVANCE OF THE APPLICANT/ REVENUE IS AGAINST THE ORDER OF TRIBUNAL IN HOLDING THAT THE INTEREST ACCRUED ON NPAS WAS NOT TAXABLE IN THE HANDS OF THE RESPONDENT. 3. W E FIND THAT THE ISSUE STANDS COVERED BY THE RATIO LAID DOWN BY THE HONBLE BOMBAY HIGH COURT AND HENCE, THE SAME WAS DECIDED EX - PARTE THE 2 MA NO.58/PUN/2017 A.Y. 2007 - 08 ASSESSEE. T HE ISSUE RAISED IN THE M ISCELLANEOUS A PPLICATION AGAINST THE ASSESSABILITY O F INTEREST ACCRUED ON NPAS WAS DECIDED IN FAVOUR OF THE ASSESSEE BY RATIO LAID DOWN BY THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. DEOGIRI NAGRI SAHAKARI BANK LTD. IN ITA NO.53 OF 2014. THE LD. DR FOR THE APPLICANT/REVENUE HAS ONLY REFERRED TO THE APPEAL FILED BEFORE HONBL E BOMBAY HIGH COURT IN ANOTHER CASE WHICH IS PENDING FOR ADJUDICATION. HOWEVER, WHERE THE ISSUE IS SETTLED BY THE ORDER OF HONBLE JURISDICTIONAL HIGH COURT, THERE IS NO MERIT IN THE MISCELLANEOUS APPLICATION FILED BY REVENUE AND HENCE, THE SAME IS DISMISS ED. 4 . IN THE RESULT, MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON THIS 29 TH DAY OF NOVEMBER , 2017. SD/ - SD/ - (ANIL CHATURVEDI) ( SUSHMA CHOWLA) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE; / DATED : 29 TH NOVEMBER , 2017 SB / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(A) - I, NASHIK. 4. THE CIT - I, NASHIK. 5 . , , , / DR, ITAT, A BENCH, PUNE. 6. / GUARD FILE. // TRUE COPY // / BY ORDER, / PRIVATE SECRETARY , / ITAT, PUNE.