BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, Jaipur V. ACIT, Ajmer

MA 73/JPR/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5714 (ITAT-JAIPUR)
• Duration Of Justice: 1 month(s) 24 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-07-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 17-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S L CHANDEL CIT DHK
• Assessee Lawyers: AJAY SOMANI
• Keywords: Principle of natural justice; Bad and doubtful debts

Judgement Text

++++++++++ VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T; IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH DQY HKKJR] U;KF;D LNL; ,OA JH FOE FLAG ;KNO] YS [KK LNL; DS LE{K BEFORE: SHRI KUL BHARAT, JM & SHRI VIKRAM SINGH YAD AV, AM M.A. NO. 73/JP/2017 (ARISING OUT OF ITA NO. 982/JP/2015 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2012-13. BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, (ERSTWHILE RAJASTHAN GRAMIN BANK), HEAD OFFICE 1 ST FLOOR, CITY PLAZA, VAISHALI NAGAR, JAIPUR. CUKE VS. THE ASSTT. COMMISSIONE R OF INCOME TAX, CIRCLE-2, AJMER. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AAAAR 4349 E VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI AJAY SOMANI (C.A) JKTLO DH VKSJ LS@ REVENUE BY : SHRI S.L. CHANDEL (ADDL. CIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 07.07.2017. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 10/07/2017. VKNS'K@ ORDER PER SHRI KUL BHARAT, JM. THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE ARIS E OUT OF THE ORDER OF THE TRIBUNAL IN ITA NO. 982/JP/2015 SEEKING RECALLING O F THE TRIBUNALS ORDER DATED 28.07.2016. 2. THE LD. COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS AS MADE IN THE MISCELLANEOUS APPLICATION. THE RELEVANT CONTENTS O F THE MISCELLANEOUS APPLICATION ARE REPRODUCED AS UNDER :- THAT THE APPELLANT IS A SCHEDULED BANK, SPONSORED BY BANK OF BARODA (A PUBLIC SECTOR UNDERTAKING), GOVERNED BY NORMS AN D GUIDANCE OF RESERVE BANK OF INDIA. THAT THE BAD & DOUBTFUL DEBTS PROVIS ION IS GOVERNED BY NORMS 2 MA NO. 73/JP/2017 BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, AJMER. OF REGULATOR RESERVE BANK OF INDIA. THAT BANK HAS D EBITED THE SUMS TO ITS PROFIT & LOSS ACCOUNT ACCORDINGLY. THAT ON THE DATE OF HEARING, OUR CHARTERED ACCOUNTA NT PRESENTED BEFORE THE BENCH THAT IT IS A COVERED CASE BY JUDGM ENT (IN ANOTHER BANKS CASE) OF HONORABLE JODHPUR ITAT. THE BENCH WAS ALSO APPARENTLY OF THE SAME VIEW. THE LD. D.R. ALSO NODDED THE ORDER WAS RESERV ED. OUR CHARTERED ACCOUNTANT HAD REFERRED AND CITED THE JUDGMENT ITA NO. 240/JODH/2013 DATED 29.11.2013 OF HONORABLE ITAT, JODHPUR (M/S. N AGPUR URBAN CO- OPERATIVE BANK LIMITED V/S ACIT NAGAUR). COPY OF JU DGMENT IS ENCLOSED. THE ABOVE SAID JUDGEMENT REFERRED BY HONORABLE BENC H WAS PROBABLY INADVERTENTLY FILED BY SOME OFFICIAL OF THE BANK ON SOME EARLIER DATE (WHEN HE HAD COME TO SEEK ADJOURNMENT). THIS FACT WAS NOT IN THE KNOWLEDGE OF COUNSEL. THE SAID JUDGEMENT IS NOT RELEVANT TO THE CASE BUT MIGHT HAVE BEEN INADVERTENTLY SUBMITTED AND REFERRED RESULTING INTO ERROR IN THE ORDER. THAT ON THE RECEIPT OF ORDER, IT HAS COME TO NOTICE THAT HONORABLE BENCH HAS CONSIDERED ORDER ITA NO. 1032/JP/2011 DT. 14.08.2014 (INSTEAD OF ITA NO. 240/JODH/2013) AND HAS ALSO DISMISSED THE A PPEAL WITH THE OBSERVATION. THE RELIANCE PLACED BY LD. COUNSEL ON THE DECISIO N OF THE CO-ORDINATE BENCH IN ITA NO. 1032/JP/2011 IS NOT APPLICABLE IN THE CASE OF THE ASSESSEE. PRAYER: THAT DUE TO SOME MISUNDERSTANDING/CONFUSION CITATI ON & JUDGMENT ITA NO. 240/JODH/2013 DATED 29.22.3023 HAS NOT BEEN CON SIDERED WHICH HAS RESULTED IN UNJUSTIFIED DISMISSAL OF THE CASE. TH E SAME BE KINDLY RESTORED. THE INCONVENIENCE CAUSED IN THIS RESPECT IS DEEPLY REGRETTED. 2.1. THE LD. D/R OPPOSED THE SUBMISSIONS AND SUBMIT TED THAT THE ASSESSEE IS TRYING TO SEEK REVIEW OF THE ORDER IN THE GARB IN R ECTIFICATION OF MISTAKE. 3 MA NO. 73/JP/2017 BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, AJMER. 2.2. WE HAVE HEARD THE RIVAL CONTENTIONS, PERUSED T HE MATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDER SOUGHT TO BE RECALLED. THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT WHILE ARGUING THE APPEAL HE HAS PLAC ED RELIANCE ON THE COORDINATE BENCH DECISION RENDERED IN THE CASE OF M/S. NAGAUR URBAN CO-OPERATIVE BANK LTD. VS. ACIT, CIRCLE, NAGAUR IN ITA NO. 240/JODH/2013 D ATED 29.11.2013 AND HAD SUBMITTED THAT THE SAME IS COVERED IN FAVOUR OF THE ASSESSEE AND HE HAS NOT RELIED ON THE ORDER RENDERED IN ITA NO. 1032/JP/2011 DATED 14.08.2014. HE SUBMITTED THAT THE TRIBUNAL WHILE PASSING THE ORDER IN ITA NO . 982/JP/2015 DATED 28.07.2016 INADVERTENTLY TAKING NOTE OF THE ORDER IN ITA NO. 1 032/JP/201 DATED 14.08.2014 DISMISSED THE APPEAL OF THE ASSESSEE, WHICH IS APPA RENT ON RECORD. THE ASSESSEE HAS FILED A SWORN IN AFFIDAVIT IN SUPPORT OF ITS CA SE. WE HAVE CONSIDERED THE FACTS OF THE CASE AND LOOKING TO THE CIRCUMSTANCES OF THE CA SE AND IN THE INTEREST OF NATURAL JUSTICE, WE RECALL OUR ORDER DATED 28.07.2016. THE REGISTRY IS DIRECTED TO FIX THE APPEAL IN DUE COURSE. 3. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 10/07/2017 . SD/- SD/- FOE FLAG ;KNO ( DQY HKKJR ) (VIKRAM SINGH YADAV) ( KUL BHARAT ) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER JAIPUR DATED:- 10/07/2017. DAS/ 4 MA NO. 73/JP/2017 BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, AJMER. VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- BARODA RAJASTHAN KSHETRIYA GRAMI N BANK, JAIPUR. 2. THE RESPONDENT- THE ACIT, CIRCLE-2, AJMER. 3. THE CIT, 4. THE DR, ITAT, JAIPUR 5. GUARD FILE (MA NO. 73/JP/2017) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR 5 MA NO. 73/JP/2017 BARODA RAJASTHAN KSHETRIYA GRAMIN BANK, AJMER.