Dy.Commissioner of Income Tax,, Baroda v. M/s. Pragati Sahakari Bank Ltd.,, Baroda

ITA 766/AHD/2015 | 2011-2012
Pronouncement Date: 24-11-2017 | Result: Dismissed

Appeal Details

RSA Number 76620514 RSA 2015
Assessee PAN AAAAP0468N
Bench Ahmedabad
Appeal Number ITA 766/AHD/2015
Duration Of Justice 2 year(s) 7 month(s) 18 day(s)
Appellant Dy.Commissioner of Income Tax,, Baroda
Respondent M/s. Pragati Sahakari Bank Ltd.,, Baroda
Appeal Type Income Tax Appeal
Pronouncement Date 24-11-2017
Appeal Filed By Department
Tags low tax effect
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 24-11-2017
Assessment Year 2011-2012
Appeal Filed On 06-04-2015
Judgment Text
ITA NO. 766/AHD/2015 DCIT VS. PRAGATI SAHAKARI BANK LTD ASSESSMENT YEAR: 2011-12 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD C BENCH AHMEDABAD [CORAM: PRAMOD KUMAR AM AND S S GODARA JM] ITA NO. 766/AHD/2015 ASSESSMENT YEAR : 2011-12 THE DEPUTY COMMISSIONER OF INCOME-TAX ........ .....APPELLANT CIRCLE-1(2) BARODA VS. M/S. PRAGATI SAHAKARI BANK LTD .......................RESPONDENT ALEMBIC COLONY ALEMBIC ROAD BARODA 390 003 [PAN : AAAAP 0468 N] APPEARANCES BY: PRASOON KABRA FOR THE APPELLANT BANDISH S. SPARKAR FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : 24.11.2017 DATE OF PRONOUNCING THE ORDER : 24.11.2017 O R D E R PER PRAMOD KUMAR AM: 1. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST T HE ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS)-5 BARODA DATE D 26.11.2014 FOR ASSESSMENT YEAR 2011-12. 2. THE GRIEVANCES OF THE ASSESSING OFFICER ARE AS FOLLOWS:- 1. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) HAS FAILED TO APPRECIATE THE FACT THAT AN ASSESSEE IS N OT ALLOWED TO FOLLOW HYBRID SYSTEM OF ACCOUNTING. 2. WHETHER THE LD. CIT(A) WAS CORRECT IN DELETING T HE ADDITION MADE ON ACCOUNT OF INTEREST INCOME ON NPAS AS THE ASSESSEE IS A NON-SCHEDULED CO- OPERATIVE BANK AND THE PROVISIONS OF SECTION 43D IS NOT APPLICABLE TO THE ASSESSEE? 3. AT THE OUTSET THE LEARNED COUNSEL FOR THE ASSES SEE SUBMITS THAT THE APPEAL OF THE REVENUE NEEDS TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN VIEW OF THE CBDT CIRCULAR NO.21 OF 2015 DATED 10.12.2015. THE LEARN ED DEPARTMENTAL REPRESENTATIVE FAIRLY ADMITTED THAT THE TAX EFFECT IS LESS THAN TH E LIMIT PRESCRIBED BY THE AFORESAID CBDT CIRCULAR. ITA NO. 766/AHD/2015 DCIT VS. PRAGATI SAHAKARI BANK LTD ASSESSMENT YEAR: 2011-12 PAGE 2 OF 2 4. WE HAVE HEARD THE RIVAL CONTENTIONS PERUSED THE MATERIAL ON RECORD AND DULY CONSIDERED FACTS OF THE CASE IN THE LIGHT OF APPLIC ABLE LEGAL POSITION. 5. WE FIND THAT PRIMA-FACIE THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN VIEW OF CBDT CIRCULAR NO. 21/2015 IN F.NO.279/MISC. 142/2007-ITJ (PT) DATED 10TH DECEMBER 2015 VIDE WHICH IT HAS BEEN PROVIDED THAT IF THE TAX EFFECT BY VIRTUE OF THE COMMISSIONER OF INCOME-TAX (APPEALS)S ORDER IS BEL OW RS. 10 LACS THEN THAT ORDER WOULD NOT BE CHALLENGED BEFORE THE TRIBUNAL IN FURT HER APPEAL. THE BOARD HAS PROVIDED EXEMPTIONS AT CLAUSE (8) OF THE INSTRUCTIO NS WHEREIN IT HAS BEEN PROVIDED THAT THESE INSTRUCTIONS WILL NOT BE APPLICABLE IF VIRES OF ANY PROVISIONS HAS BEEN QUASHED BY IMPUGNED ORDER OR ADDITION WAS MADE ON S OME AUDIT OBJECTIONS OR THE ADDITION RELATES TO UNDISCLOSED FOREIGN ASSETS/BANK ACCOUNTS ETC. WE FIND THAT THE PRESENT CASE DOES NOT FALL WITHIN THE EXEMPTION CLA USE AND THE TAX IS LESS THAN RS.10 LACS. THEREFORE THE PRESENT APPEAL IS NOT MAINTA INABLE AND HENCE DISMISSED. [[[ 6. IN THE RESULT THE APPEAL FILED BY THE REVENUE I S DISMISSED IN LIMINE. PRONOUNCED IN THE OPEN COURT TODAY ON THE 24 TH OF NOVEMBER 2017. SD/- SD/- S S GODARA PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) AHMEDABAD THE 24 TH DAY OF NOVEMBER 2017 **BT COPIES TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES AHMEDABAD 1. DATE OF DICTATION: ......COVERED MATTER.24.11. 2017 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE T HE DICTATING MEMBER: ... 24.11.2017........ 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR . P.S./P.S.: 24.11.2017... 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE TH E DICTATING MEMBER FOR PRONOUNCEMENT: 24.11.2017 5. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK : ... 29.11.2017... 6. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK : . 7. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER: