M/s. The Central Cooperative Bank Ltd. , Bhilwara v. ACIT, Circle, Bhilwara

ITA 152/JODH/2019 | 2014-2015
Pronouncement Date: 31-08-2021 | Result: Allowed

Appeal Details

RSA Number 15223314 RSA 2019
Assessee PAN AAAAT8126B
Bench Jodhpur
Appeal Number ITA 152/JODH/2019
Duration Of Justice 2 year(s) 4 month(s) 5 day(s)
Appellant M/s. The Central Cooperative Bank Ltd. , Bhilwara
Respondent ACIT, Circle, Bhilwara
Appeal Type Income Tax Appeal
Pronouncement Date 31-08-2021
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 31-08-2021
Assessment Year 2014-2015
Appeal Filed On 25-04-2019
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL JODHPUR BENCH JODHPUR BEFORE: SHRI SANDEEP GOSAIN JM & SHRI VIKRAM SING H YADAV AM ITA. NO. 152/JODH/2019 ASSESSMENT YEARS : 2014-15 THE CENTRAL CO-OPERATIVE BANK LTD. 52 BALAJI MARKET BHILWARA VS. ASSTT. COMMISSIONER OF INCOME TAX CIRCLE BHILWARA PAN/GIR NO.: AAAAT8126B APPELLANT RESPONDENT ASSESSEE BY : SH. SUNIL PORWAL (CA) REVENUE BY : SMT SANCHITA KUMAR CIT- DR DATE OF HEARING : - 09/08/2021 DATE OF PRONOUNCEMENT : 31/08/2021 VKNS'K@ ORDER PER: VIKRAM SINGH YADAV A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE AGA INST THE ORDER OF LD. PR. CIT AJMER DATED 22.02.2019 WHEREIN THE ASSESSEE HA S CHALLENGED THE ORDER PASSED BY THE LD. PR. CIT U/S 263 OF THE ACT PERTAINING TO A.Y 2014-15. 2. BRIEFLY STATED FACTS OF THE CASE ARE THAT THE AS SESSMENT IN THIS CASE WAS ORIGINALLY COMPLETED U/S 143(3) VIDE ORDER DATED 04.11.2016. SUBSEQUENTLY THE ASSESSMENT RECORDS WERE EXAMINED AND A SHOW CAUSE DATED 07.02.2019 U/S 263 OF THE ACT WAS ISSUE D BY THE LD. PR. CIT STATING THAT ASSESSEE HAS INCORRECTLY DEBITED A SUM OF RS. 35 93 215/- IN ITS PROFIT AND LOSS ACCOUNT ON ACCOUNT OF PAC DEVEL OPMENT FUND UNDER ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 2 THE HEAD OTHER EXPENSES WHICH IS NOT AN ACTUAL EX PENDITURE TOWARDS BUSINESS ACTIVITIES AND THUS NOT ALLOWABLE IN THE H ANDS OF THE ASSESSEE. IN RESPONSE THE ASSESSEE FILED ITS SUBMISSIONS WHI CH WERE CONSIDERED BUT NOT FOUND ACCEPTABLE AND THE ORDER PASSED BY TH E ASSESSING OFFICER WAS CONSIDERED AS ERRONEOUS IN SO FAR AS IT IS PREJ UDICIAL TO THE INTEREST OF THE REVENUE AND THE SAME WAS SET ASIDE TO THE FI LE OF THE ASSESSING OFFICER FOR MAKING AFRESH ASSESSMENT AFTER CARRYING OUT NECESSARY ENQUIRIES. AGAINST THE SAID THE ASSESSEE IS IN APP EAL BEFORE US. 3. DURING THE COURSE OF HEARING THE LD AR SUBMITTE D THAT IT IS OBLIGATORY FOR THE ASSESSEE CO-OPERATIVE BANK TO FO LLOW THE RULES AND REGULATIONS OF CO-OPERATIVE DEPARTMENT GOVERNMENT OF RAJASTHAN. IT WAS SUBMITTED THAT THE CORPORATE DEPARTMENT HAS FRA MED THE PAC DEVELOPMENT FUND RULES 2003. THE MAIN AIM AND OBJE CTS OF SUCH FUND ARE AS FOLLOWS: (I) THE OBJECT OF CONSTITUTION PRIMARY AGRICULTURAL CRE DIT CO-OPERATIVE SOCIETY DEVELOPMENT FUND IS TO ASSIST PACSLAMPS/MSS FINANCIALLY TO ENABLE THEM TO EMERGE / DEVELOP AS FULL-FLEDGED MUL TIPURPOSE CO- OPERATIVE SOCIETY. (II) THE TRAINING COMPO NEAR FOR THE PACS MSS MANAGERS IS IMPORTANT. TO DEVELOP THE PACS AS MULTIPURPOSE SOCI ETY A TRAINED MANAGER SHOULD WORK THERE. FOR THIS THEREFORE THE F EES FOR TRAINING THE PACS / MSS MANAGER OF A WEAK PACS / MSS WILL BE PAI D OUT FROM THE PACS DEVELOPMENT FUND. (III) CONTRIBUTION FOR HAZARD FUND WILL BE MADE FROM THE PACS DEVELOPMENT FUND FOR THE WEAK PACS. (IV) FOR THE PROPER DEVELOPMENT OF PACS THE PACS MANAGE R MAY BE PAID INCENTIVES FROM THIS FUND AS PER GUIDELINES IS SUED BY THE REGISTRAR. ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 3 (V) THE FUND CAN ALSO BE USED FOR CONSTRUCTION / COMPLE TION / REPAID OF THE OFFICE BUILDING / GODOWNS OF PACS / LAMPS / MSS. (VI) ANY OTHER DEVELOPMENT PURPOSE APPROVED BY REGISTRAR . 4. IT WAS SUBMITTED THAT THE FUND WILL BE MAINTAINE D AT TWO LEVELS AT DCCB LEVEL AND AT RSCB LEVEL. THE FUND WILL BE ESTA BLISHED CREDITING THE AMOUNT RECEIVED AS STIPULATED CONTRIBUTION FROM RSCB/ CCB/ OTHER CO-OPERATIVE INSTITUTIONS AS PER DETAILS GIVEN BELO W. IT WAS SUBMITTED THAT AS REGARD THE PROCEDURE FOR UTILIZING THE FUND AT DCCB LEVEL A COMMITTEE OF FOLLOWINGS PERSONS IS CONSTITUTED TO I SSUE SANCTION AND SUPERVISE THE UTILIZATION OF FUND:- 1. MANAGING DIRECTOR OF CONCERNED CCB CHAIRPERSON 2. CHAIRPERSON OF THE CONCERNED SOCIETY MEMBER 3. DEPUTY REGISTRAR / ASSISTANT REGISTRAR MEMBE R 4. EXECUTIVE OFFICER OF DCCB MEMBER 5. IT WAS SUBMITTED THAT THE ABOVE COMMITTEE SHOULD MEET AT LEAST ONCE IN A QUARTER TO TAKE DECISION ON ALL THE PROPO SALS. IT WAS SUBMITTED THAT AS THE FUND SHALL BE THE PART OF BANKS OWN FU ND IT WILL BE ADMINISTERED BY M.D. RSCB/MD OF CONCERNED DCCB AS T HE CASE MAY BE. THUS FROM ABOVE IT IS CLEAR THAT PAC DEVELOPMENT F UND ARE CONTRIBUTION BY BANK TO GOVERNMENT AGENCY. ALL ADMINISTRATION U TILIZATION OF FUND SHALL BE GOVERNED BY A COMMITTEE FORMED AS PER RULE S & ASSESSEE WILL HAVE NO CONTROL THEREON. THUS CONTRIBUTION TO FUND IS A BUSINESS EXPEDIENCY & IS THUS A BUSINESS EXPENDITURE IN TER MS OF SECTION 37(1) OF INCOME TAX ACT 1961. BASED ON BUSINESS EXPEDIE NCY & LEGAL DECISION ON ISSUE THE HONBLE RAJASTHAN HIGH COURT JAIPUR IN CASE OF ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 4 CIT JAIPUR II V/S M/S RAJASTHAN STATE CO-OPERATIVE BANK LTD. JAIPUR IN DBT NO. 290/2016 HAS DISMISSED THE REVENUES APPEAL . LATER SLP FILED BY LD. PCIT 2 JAIPUR IN COMPOSITE ORDER IN DBIT APPEAL NO. 18/2012 233/2012 294/2016 & 290/2019 DATED 05.09.2017 IN H ONBLE SUPREME COURT FURTHER VIDE SLP(C)NO. 027725/2018 FILED ON 19.06.2018 (DIARY NO. 22624/2018 FILED ON 19.06.2018) HAS DISPOSED & DISMISSED THE SAID SLP ON ORDER DATED 24.09.2018. IT WAS SUBMITTED TH AT THE SLP WAS DISMISSED ON 24.09.2018 ITSELF WHEREAS LD. PCIT A JMER HAS PASSED THE ORDER U/SEC. 263 OF ACT ON 22.02.2019 IGNORING THE SAME. 6. IT WAS SUBMITTED THAT LD. PCIT AJMER HAS HOWEVE R REFERRED THE MATTER OF M/S CHURU CENTRAL CO.-OPERATIVE BANK LTD. V/S CIT JAIPUR (D.B. NO. 254/2011 ORDER DATED 20.04.2017 WHEREBY THE HONBLE COURT HAS DECIDED THAT TILL THE AMOUNT CREDITED TO THE CO NTINGENCIES RESERVE IS NOT DIVERTED BY REASON OF AN OVERDIDING OBLIGATION OR TITLE AND DETERMINING THE BUSINESS PROFITS OF THE ASSESSEE I T IS NOT A PROVISION FOR KNOW EXISTING LIABILITIES WHEREAS AS DISCUSSED ABOV E THE PAC DEVELOPMENT FUND IS PURELY AN ASCERTAINED LIABILIT Y & ADMINISTRATION & UTILIZATION THEREOF IS NOT WITH THE ASSESSEE AND NOT FOR THE BENEFIT OF ASSESSEE & THUS IS AN ASCERTAINED LIABILITY/ PROVIS ION & IS THUS A BUSINESS EXPENDITURE. THUS WHEN FACTS ARE CLEAR OR WHERE AN OTHER VIEW IS POSSIBLE THE REVISION U/SEC. 263 OF ACT IS NOT PER MISSIBLE AS HELD IN FOLLOWING DECISIONS: CIT VS. GOKULDAS EXPORTS (2011) 333 ITR 214 (KAR.) CIT VS. G.M. MITTAL STAINLESS STEEL (P) LTD. (2003) 130 TAXMAN 67 (SC) MEGHALAYA PLYWOOD LTD. VS. CIT (2007) 160 TAXMAN 89 (GAUHATI) ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 5 7. IT WAS FURTHER SUBMITTED THAT UNDER SIMILAR CIRC UMSTANCES & FOLLOWING RAJASTHAN HIGH COURT DECISION THE LD. CI T(A) FOR A.Y. 2013- 14 AND A.Y. 2016-17 HAS ALSO DECIDED THE MATTER IN FAVOUR OF THE ASSESSEE & NO SECOND APPEAL HAS BEEN PREFERRED BY D EPARTMENT. IT WAS ACCORDINGLY SUBMITTED THAT THE ORDER OF THE LD PCIT MAY BE SET-ASIDE AND THE ORDER OF THE AO BE SUSTAINED. 8. PER CONTRA THE LD. CIT/DR RELIED ON THE FINDING S OF THE LD. PR.CIT AND OUR REFERENCE WAS DRAWN TO HIS FINDINGS WHICH R EAD AS UNDER:- 6. THE WRITTEN SUBMISSION PUT FORTH BY THE ASSESSE E HAVE BEEN CONSIDERED WHEREBY IT HAS BEEN CONTENDED THAT THE CONTRIBUTION TO PACS DEVELOPMENT FUND IS OBLIGATORY TO THE ASSESSEE BANK AND IT IS AN OBLIGATION OF THE CO-OPE RATIVE BANK TO TRANSFER THE AMOUNT AND CHARGE ON BUSINESS AS MAY B E NECESSARY AS PER PAC DEVELOPMENT FUND RULES 2003. THE SECTION 37(1) OF THE I.T. ACT 1961 PROVIDES A S UNDER: '37(1) ANY EXPENDITURE (NOT BEING EXPENDITURE OF TH E NATURE DESCRIBED IN SECTIONS 30 TO 36 AND NOT BEING IN THE NATURE OF CAPITAL EXPENDITURE OR PERSONAL EXPENSES OF THE ASS ESSEE) LAID OUT OR EXPENDED WHOLLY AND EXCLUSIVELY FOR THE PURPOSE OF THE BUSINESS OR PROFESSION SHALL BE ALLOWED IN C OMPUTING THE INCOME CHARGEABLE UNDER THE HEAD 'PROFITS AND G AINS OF BUSINESS OR PROFESSION.' AS PROVIDED BY THE SECTION 37(1) OF THE I.T. ACT 1961 THE EXPENDITURE WHICH HAS BEEN EXPENDED WHOLLY AND EXCLUSIVELY FOR THE PURPOSE OF THE BUSINESS OR ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 6 PROFESSION IS ONLY ALLOWABLE AS DEDUCTION UNDER TH E HEAD 'PROFITS AND GAINS OF BUSINESS OR PROFESSION'. IN I TS SUBMISSION THE ASSESSEE BANK MERELY REITERATED THA T THE CONTRIBUTION TO PACS DEVELOPMENT FUND IS OBLIGATOR TO THE ASSESSEE BANK. HOWEVER THE ASSESSEE BANK HAS FAILE D TO EXPLAIN THAT THE CONTRIBUTION TOWARDS PACS DEVELOPMENT FUND IS ACTUALLY AN EXPENDITURE WHICH H AS BEEN INCURRED WHOLLY AND EXCLUSIVELY FOR THE PURPOSE OF THE BUSINESS OR PROFESSION. 6.1 FURTHER IN THE CASE OF CIT JAIPUR-II VS M/S R AJASTHAN STATE C-OPERATIVE BANK LTD. JAIPUR IN DBIT APPEAL NO. 290/2016 THE HON'BLE HIGH COURT JAIPUR HAS DISMIS SED THE APPEAL OF THE REVENUE. HOWEVER AS INFORMED BY OFFICE OF THE PC1T-2 JAIPU R VIDE THEIR LETTER DATED 07.01.2019 THE DECISION OF THE HON'BLE HIGH COURT JAIPUR'S COMPOSITE ORDER IN DBIT APPEAL S NO. 18/2012 233/2012 294/2016 AND 290/2016 DECIDED ON 05.09.2017 HAS NOT BEEN ACCEPTED BY THE REVENUE AN D SLP HAS BEEN PREFERRED BEFORE THE HON'BLE SUPREME COURT WHICH AS PER INFORMATION ENCLOSED TO SAID LETTER IS PEND ING. 6.2 IT HAS FURTHER BEEN OBSERVED THAT THE SAID FUND IS PART OF BANK'S OWN FUND AND IS ADMINISTERED BY MD OF THE CONCERNED CENTRAL CO-OPERATIVE BANK FOR NOT THE BEN EFIT OF THE ASSESSEE CO-OPERATIVE BANK BUT OTHER PRIMARY AG RICULTURAL ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 7 CREDIT CO-OPERATIVE SOCIETIES. SETTING ASIDE THE MO NEY TO THE FUND IS NOT THE ACTUAL EXPENSES ALLOWABLE U/S 37(1) OF THE I.T. ACT 1961. THE ACTUAL EXPENSES THEREFROM OR UT ILISATION THEREFROM IS SEPARATE AND SUBSEQUENT. FUND BEING PA RT OF THE BANK'S FUND IS THEREFORE NOT SEPARATE. THE EXPENSE S OR UTILISATION THEREFROM BEING A SUBSEQUENT EVENT THE REFORE IT IS NOT ACTUAL EXPENSES AT THE TIME OF SETTING ASIDE OF THE FUND. ALSO THAT SETTING ASIDE OF FUND IS NOT A PRE-REQUI SITE FOR THE ASSESSEE CO-OPERATIVE BANK TO FUNCTION AS S UCH OR GET REGISTRATION TO FUNCTION AS DISTRICT CENTRAL CO -OPERATIVE BANK BUT A SUBSEQUENT EVENT. IF THAT IS CONSIDERED FOR THE SAKE OF IT ONLY ACTUAL EXPENSES WHEN INCURRED AND WHETHER IT IS ELIGIBLE U/S 37 WOULD BE A MATTER OF ENQUIRY. 6.3 ON EXAMINATION OF RECORDS IT IS OBSERVED THAT THE AO ALSO FAILED TO ENQUIRE INTO THE ADMISSIBILITY OF THE PAC S FUND. 6.4 MOREOVER IN THE CASE OF M/S CHURU CENTRAL CO- OPERATIVE BANK LTD. VS. CIT JAIPUR IN DBIT APPEAL NO. 254/2011 THE HON'BLE HIGH COURT JAIPUR VIDE ITS O RDER DATED 20.04.2017 ANSWERED THE ISSUE IN FAVOUR OF DEPARTMENT AND AGAINST THE ASSESSEE. 7. IN VIEW OF ABOVE DISCUSSION THE ASSESSMENT ORDE R PASSED BY THE AO IS CONSIDERED ERRONEOUS IN SO FAR AS IT I S PREJUDICIAL TO ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 8 THE INTEREST OF THE REVENUE HENCE SET ASIDE TO TH E FILE OF THE AO TO THE AFORESAID EXTENT FOR MAKING AFRESH AFTER CAR RYING OUT ENQUIRIES IF REQUIRED AND AFTER GIVING OPPORTUNIT Y OF BEING HEARD TO THE ASSESSEE. 9. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE FIND THAT THE MATTER IS COV ERED IN FAVOUR OF THE ASSESSEE IN ITS OWN CASE BY THE DECISION OF THE HON BLE RAJASTHAN HIGH COURT IN DBIT APPEAL NO. 290/2016 DATED 5.09.2017 W HEREIN THE HONBLE HIGH COURT WAS PLEASED TO HELD AS UNDER: 15. WE HAVE HEARD COUNSEL FOR BOTH THE SIDES. 16. BEFORE PROCEEDING IT WILL NOT BE OUT OF PLACE TO MENTION THAT RESPONDENT IS STATUTORY AUTHORITY REGISTERED UNDER THE RAJASTHAN COOPERATIVE SOCIETY ACT AND THEY ARE REQUIRED TO FO LLOW THE RULES WHICH ARE MANDATORY IN NATURE AND IF INCUR DISQUALIFICATI ON EITHER THEY WILL BE SUPERSEDED OR THEY WILL INCUR DISQUALIFICATION. 17. IN THAT VIEW OF THE MATTER WHILE INTERPRETING LOCAL ACT THE COURT HAS VERY GUARDED UNDER THE INCOME TAX ACT WHETHER T HE DEDUCTION OR THE EXPENSES WHICH ARE INCURRED ARE ADMISSIBLE UNDE R SECTION 37 OR NOT. 18. LOOKING TO THE PROVISIONS OF THE RULE 2003 REFE RRED HEREINABOVE THE EXPENSES ARE MANDATORY IN NATURE THUS THEY AR E REQUIRED TO BE DEDUCTED TO BE KEPT IN RESERVE FUND AND THEY ARE EX PENSES AS STATED UNDER RULE 28. 19. IN THAT VIEW OF THE MATTER IT IS TO BE KEPT R ESERVE FUND AND THE VIEW TAKEN BY THE AO IS VERY CONSERVATIVE AND CONSI DERING THE OPINION NEITHER THE TRIBUNAL NOR THE CIT(A) HAS COMMITTED A NY ERROR. 20. HENCE THE FIRST ISSUE IS REQUIRED TO BE ANSWER ED IN FAVOUR OF THE ASSESSEE AGAINST THE DEPARTMENT. ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 9 10. THE FACT THAT THE DECISION OF THE HONBLE RAJAS THAN HIGH COURT HAS NOT BEEN ACCEPTED BY THE REVENUE AND FURTHER SL P HAS BEEN PREFERRED BEFORE THE HONBLE SUPREME COURT CANNOT B E A BASIS TO HOLD THAT THE ORDER SO PASSED BY THE ASSESSING OFFICER A LLOWING SUCH CLAIM IS ERRONEOUS IN NATURE AS SUCH AN ORDER PASSED BY THE JURISDICTIONAL HIGH COURT AND THAT TOO IN ASSESSEES OWN CASE IS BINDI NG ON THE ASSESSING OFFICER. THE DECISION IN CASE OF M/S CHURU CENTRAL COOPERATIVE BANK HAS BEEN RENDERED BY THE HONBLE RAJASTHAN HIGH COURT O N 20.04.2017 AND THEREFORE WHERE THE DECISION IN ASSESSEES OWN CAS E HAS BEEN RENDERED SUBSEQUENTLY BY THE HONBLE RAJASTHAN HIGH COURT ON 5.09.2017 THE LATTER DECISION SHALL CLEARLY TAKE PRECEDENCE OVER THE FORMER DECISION AND EVEN WHERE TWO VIEWS ARE POSSIBLE AND WHERE THE AO HAS FOLLOWED THE LATER DECISION WHILE ALLOWING THE CLAIM OF THE ASSESSEE THE VIEW SO TAKEN BY THE AO CANNOT BE HELD TO BE ERRONEOUS IN N ATURE. 11. IT IS ALSO INTERESTING TO NOTE THAT JUST PRIOR TO ISSUANCE OF SHOW- CAUSE U/S 263 ON 7.02.2019 BY THE LD PCIT THE LD C IT(A) VIDE ITS ORDER DATED 6.02.2019 IN ASSESSEES OWN CASE FOR A.Y 2013 -14 AND A.Y 2016- 17 HAS ALLOWED THE CLAIM OF THE ASSESSEE TOWARDS SU CH CONTRIBUTION TOWARDS PAC DEVELOPMENT FUND FOLLOWING THE DECISION OF THE HONBLE RAJASTHAN HIGH COURT REFERRED SUPRA. THESE ORDERS SO PASSED BY THE LD CIT(A) THUS FORM PART OF THE RECORDS AND THEREFORE WHERE THE MATTER IS CONSISTENTLY DECIDED IN FAVOUR OF THE ASSESSEE EARL IER BY THE HONBLE RAJASTHAN HIGH COURT WHICH IS SUBSEQUENTLY FOLLOWED BY THE LD CIT(A) AND WHERE THE AO DECIDE TO FOLLOW THE SAME BINDING DECISIONS AND FOLLOW THE RULE OF CONSISTENCY AND THE SETTLED POSI TION IN THE EARLIER YEARS THE ORDER PASSED BY THE AO CANNOT BE HELD AS ERRONEOUS IN NATURE. ITA NO. 152/JODH/2019 THE CENTRAL CO-OPERATIVE BANK LTD. VS. ACIT BHILWA RA 10 12. IN LIGHT OF AFORESAID DISCUSSION AND IN THE ENT IRETY OF FACTS AND CIRCUMSTANCES OF THE CASE THE ORDER SO PASSED BY T HE LD PR.CIT IS HEREBY SET-ASIDE AND THE ORDER OF THE AO IS SUSTAIN ED. IN THE RESULT THE APPEAL OF THE ASSESSEE IS ALLOWE D. ORDER PRONOUNCED IN THE OPEN COURT ON 31/08/2021. SD/- SD/- ( SANDEEP GOSAIN ) (VIKRAM SINGH YADAV) JUDICIAL MEMBER ACCOUNTANT MEMBER JODHPUR DATED:- 31/08/2021. *GANESH KUMAR COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- THE CENTRAL CO-OPERATIVE BANK LTD. BHILWARA 2. THE RESPONDENT- ACIT CIRCLE BHILWARA 3. CIT 4. CIT(A) 5. DR ITAT JODHPUR. 6. GUARD FILE { ITA NO. 152/JODH/2019} BY ORDER ASST. REGISTRAR