Addl.CIT, Bangalore V. M/s Canara Bank, Bangalore

MA 62/BANG/2010

• Counselvise Citation: [2010] 123 COUNSELVISE.COM (IT) 4685 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-07-2010
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2006-2007
• Appeal Filed On: 31-05-2010
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: PREETHI GARG CITIIIDR
• Assessee Lawyers: VANI H
• Keywords: Earning of tax free income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER M.P.NO.62/BANG/2010 (ARISING OUT OF ITA NO.530/BANG/2009 ASSESSMENT YEAR : 2006-07 THE ADDITIONAL COMMISSIONER OF INCOME TAX, LARGE TAX PAYERS UNIT, BANGALORE. : APPLICANT VS. M/S. CANARA BANK, NO.41/2, M.G. ROAD, BANGALORE. : RESPONDENT APPLICANT BY : SMT. PREETHI GARG, CIT-III(DR) RESPONDENT BY : MS. VANI H., ADVOCATE O R D E R PER A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER THIS MISCELLANEOUS PETITION IS FILED BY THE REVENU E SEEKING RECALL OF THE ORDER OF THE TRIBUNAL DATED 6.11.2009 IN ITA NO .530/B/09 DISMISSING THE APPEAL AS NOT MAINTAINABLE FOR WANT OF COD APPR OVAL. 2. THE LD. DR SUBMITTED THAT THE COD HAS ACCORDED P ERMISSION TO PURSUE APPEAL IN THE ABOVEMENTIONED CASE FOR THE A. Y. 2006-07 VIDE THEIR MINUTES IN THE MEETING HELD ON 9.2.10. A COPY OF T HE SAID MINUTES IS FILED ON RECORD. IT IS SUBMITTED IN THE PETITION THAT TH E COD HAS GRANTED APPROVAL TO PROSECUTE THE CASE IN RESPECT OF THE FOLLOWING I SSUES:- (1) DISALLOWANCE OF DEDUCTION U/S. 36(1)(VII) M.P. NO.62 /BANG/10 PAGE 2 OF 3 (2) DISALLOWANCE OF EXPENDITURE FOR EARNING EXEMPT INCOME (3) COMPUTATION OF INCOME U/S. 115JB. THE LD. DR THEREFORE PRAYED THAT THE ORDER OF THE T RIBUNAL DATED 6.11.09 MAY BE RECALLED AND THE APPEAL BE DISPOSED OF ON ME RITS. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. WE HAVE PERUSED THE MINUTES OF THE MEETIN G HELD ON 9.2.2010 ISSUED VIDE CABINET SECRETARIAT CIRCULAR DATED 12.4 .2010, WHEREIN WE FIND THAT VIDE ITEM NO.16 THE COD HAS PERMITTED THE REVE NUE TO PROSECUTE THE APPEAL IN RESPECT OF ONLY TWO ISSUES VIZ., (A) DISA LLOWANCE OF EXPENDITURE FOR EARNING EXEMPT INCOME AND (B) COMPUTATION OF IN COME U/S. 115JB. THE FIRST ISSUE REGARDING DISALLOWANCE OF DEDUCTION U/S . 36(1)(VII) IS TO BE RELISTED BEFORE THE COD FOR ITS APPROVAL. ACCORDI NGLY, WE RECALL THE ORDER OF THE TRIBUNAL DATED 6.11.09 TO THE EXTENT OF ONLY FOLLOWING TWO ISSUES VIZ.:- (A) DISALLOWANCE OF EXPENDITURE FOR EARNING EXEMPT INCOME AND (B) COMPUTATION OF INCOME U/S. 115JB. 4. REGISTRY IS DIRECTED TO POST THE APPEAL FOR HEAR ING ON 07.09.2010. BOTH THE PARTIES ARE INTIMATED IN THE OPEN COURT, H ENCE NOTICE NEED NOT BE SERVED. 5. IN THE RESULT, MISCELLANEOUS PETITION IS PARTLY ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 23 RD DAY OF JULY, 2010. SD/- SD/- ( SMT. P. MADHAVI DEVI) (A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED, THE 23 RD JULY, 2010. DS/- M.P. NO.62 /BANG/10 PAGE 3 OF 3 COPY TO: 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE.