NAINITAL DISTRICT CO-OPERATIVE BANK,HALDWANI V. ACIT, HALDWANI

ITA 4847/DEL/2017

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 471618 (ITAT-DEHRADUN)
• Duration Of Justice: 7 year(s) 3 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-11-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 21-11-2024
• Assessment Year: 2013-2014
• Appeal Filed On: 31-07-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A. S. RANA
• Assessee Lawyers: PAVAN NATH
• Keywords: Principle of natural justice
• Section: 143(3)

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘DB’, NEW DELHI BEFORE SATBEER SINGH GODARA, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER ITA No. 4847/Del/2017 (Assessment Year : 2013-14) Nainital District Co-operative Bank Nainital Road, Haldwani, Uttarakhand PAN No. AAAAN 1154 F Vs. ACIT Aayakar Bhawan, Chorgalia Road, Gaulapar, Haldwani, Uttarakhand (APPELLANT) (RESPONDENT) Assessee by Shri Pavan Nath, Adv. Revenue by Shri A. S. Rana, Sr. D.R. Date of hearing: 21.11.2024 Date of Pronouncement: 21.11.2024 ORDER PER PRADIP KUMAR KEDIA, AM : The captioned appeal has been filed by the assessee against the first appellate order of the Ld. Commissioner of Income Tax (Appeals) – Haldwani dated 12.04.2017 arising from the assessment order dated 15.03.2016 passed by the ACIT, Circle – 1, Haldwani (hereinafter referred to as ‘AO’) under Section 143(3) of the Income Tax Act, 1961 (the Act) concerning Assessment Year 2013-14. 2. The grounds of appeal raised by the assessee reads as under: “1. The Learned Commissioner of Income Tax Appeals (CIT-A) has without going into the facts has sustained addition aggregating to 76,32,863.00. 2. The Ld CIT-A has sustained the disallowance of interest on Agriculture Credit Stabilization Fund and PACS Deposit Insurance Fund contrary to facts and law. ITA No.4847/Del/2017 Nainital District Co-operative Bank vs. ACIT A.Y. 2013-14 -2- 3. The Ld CIT-A has sustained taxing of dividend income as a result the same is entering into double taxation. 4. That the order is bad in law, not in agreement with facts and is against the principles of natural justice.” 3. When the matter was called for hearing, the learned Counsel for the assessee submitted that as per the instruction of the client, the assessee is opting for the ongoing “The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024”. The learned Counsel thus submitted that the assessee does not seek to pursue the said appeal owing to exercise of option for availing VSV Scheme and consequently requested that the written application for withdrawal of appeal may please be granted. 3. The learned Departmental Representative for the Revenue stated that he has no objection to withdraw the appeal as sought on behalf of the assessee. 4. In the light of oral/written request made on behalf of the assessee, the captioned appeal is dismissed as withdrawn. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any bonafide reasons, then the assessee concerned shall be at liberty to seek restoration of original appeal for hearing before ITAT in accordance with law. 5. In the result, appeal of the assessee is dismissed as withdrawn. Order was dictated and pronounced in the open court on 21.11.2024 Sd/- Sd/- (SATBEER SINGH GODARA) (PRADIP KUMAR KEDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER Date:- 21.11.2024 Priti Yadav, Sr. PS* ITA No.4847/Del/2017 Nainital District Co-operative Bank vs. ACIT A.Y. 2013-14 -3- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI Date of dictation 21.11.2024 Date on which the typed draft is placed before the dictating Member 21.11.2024 Date on which the approved draft comes to the Sr.PS/PS 21.11.2024 Date on which the fair order is placed before the Dictating Member for Pronouncement 21.11.2024 Date on which the fair order comes back to the Sr. PS/ PS 21.11.2024 Date on which the final order is uploaded on the website of ITAT 21.11.2024 Date on which the file goes to the Bench Clerk 21.11.2024 Date on which file goes to the Head Clerk. The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order "