Joint Commissioner of Income Tax (LTU) , Bangalore v. M/s Canara Bank , Bangalore

ITA 843/BANG/2017 | 2012-2013
Pronouncement Date: 17-11-2017 | Result: Dismissed

Appeal Details

RSA Number 84321114 RSA 2017
Assessee PAN AAACG6106G
Bench Bangalore
Appeal Number ITA 843/BANG/2017
Duration Of Justice 7 month(s) 3 day(s)
Appellant Joint Commissioner of Income Tax (LTU) , Bangalore
Respondent M/s Canara Bank , Bangalore
Appeal Type Income Tax Appeal
Pronouncement Date 17-11-2017
Appeal Filed By Department
Tags aplicablity of 115JB to banking company
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 17-11-2017
Last Hearing Date 05-09-2017
First Hearing Date 05-09-2017
Assessment Year 2012-2013
Appeal Filed On 13-04-2017
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH B E NGAL U R U BEFORE SHRI INTURI RAMA RAO ACCOUNTANT MEMBER AND SHRI LALIET KUMAR JUDICIAL MEMBER ITA NO. 843/ BANG/ 201 7 (ASSESSMENT YEAR : 2012 - 13) JOINT COMMISSIONER OF INCOME - TAX(LTU) BENGALURU VS. APPELLANT M/S.CANARA BANK BALANCE SHEET & CENTRAL ACCOUNTS SECTION FM & S WING HEAD OFFICE 112 JC ROAD BENGALURU - 560002. PAN: AAACG 6106 G RESPONDENT APPELLANT BY : SHRI R.K.JHA (CIT). RESPONDENT BY : MS. R.LALITH AD VOCATE. DATE OF HEARING : 09/11/2017 DATE OF PRONOUNCEMENT : 17 /11/2017 O R D E R PER I NTURI RAMA RAO AM : THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME - TAX (APPEALS) - 14 LTU BENGALURU [CIT(A)] DATED 30/01/2017 FOR THE ASSESSMENT YEAR 201 - 13. 2. THE REVENUE RAISED THE FOLLOWING GROUNDS OF APPEAL: ITA NO . 843 /BANG/201 7 PAGE 2 OF 4 3 . GROUND NOS.1 AND 4 ARE GENERAL IN NATURE AND DO NOT REQUIRE ANY ADJUDICATION. GROUND NO.2 CHALLENGES THE FINDING OF THE CIT(A) THAT THE PROVISIONS OF SECTION 115JB OF THE INCOME - TAX ACT 1961 [HEREINAFTER REFERRED TO AS 'THE ACT' FOR SHORT] ARE NOT APPLICABLE TO A BANKING COMPANY. THIS ISSUE IS COVERED AGAINST THE REVENUE BY THE RATIO OF THE DECISION OF THE CO - ORDINATE BENCH IN THE ASSESSEE S OWN CASE IN ITA NOS.1035/BANG/2013 DATED 15/09/2017 FOR THE ASSESSMENT YEAR 2009 - 10 WHEREIN IT HAS BEEN HELD AS UNDER: 13. GROUND OF APPEAL NO.5 IS ON THE APPLICABILITY OF THE PROVIS I ONS OF SECTION 115JB OF THE ACT. THIS ISSUE HAD CO ME UP BEFORE THE CO - ORDINATE BENCH IN THE CASE OF ASSESSEE FOR ASST. YEAR 2005 - 06 IN ITA NO.305/BANG/2011 DATED 18/06/2012 WHEREIN IT WAS HELD AS FOLLOWS: ITA NO . 843 /BANG/201 7 PAGE 3 OF 4 IN THE LIGHT OF THIS DECISION WE DO NOT FIND ANY FALLACY IN THE ORDER OF THE CIT(A) CIT(A). HE NCE WE DISMISS THIS GROUND OF APPEAL. 4. GROUND NO.3 IS ALSO COVERED IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE BY THE DECISION OF THE CO - ORDINATE BENCH IN THE CASE OF THE ASSESSEE FOR THE ASSESSMENT YEAR 2009 - 10 IN ITA NO.1035/BANG/2013 DATED 15/0 9/2017. THE RELEVANT PARAGRAPH IS EXTRACTED BELOW: 11. GROUND OF APPEAL NO.3 RELATES TO DEPRECIATION ON LEASED ASSETS TO KEDIA GROUP OF COMPANIES. THIS ISSUE IS ONLY CONSEQUENTIAL IN NATURE AS IN THE EARLIER YEARS VIZ. 2008 - 09 AND 2007 - 08 WE ALL OWED THE CLAIM VIDE ORDER DATED 13/07/2016 IN MISC.PETN.NOS.42 & 43/BANG/2016 IN ITA NOS.684/BANG/2012 & 813/BANG/2011. THIS GROUND OF APPEAL IS DISMISSED. RESPECTFULLY FOLLOWING THE SAME WE DISMISS GROUND NO.3 SINCE ISSUE OF DEPRECIATION ON LEASED ASSET S IS ONLY CONSEQUENTIAL IN NATURE AND ALSO F OR REASONS OF PARITY DECISION FOR EARLIER YEARS REQUIRES TO BE FOLLOWED. GROUND NO.3 IS DISMISSED. 5. IN THE RESULT THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17 TH NOVEMBER 201 7 S D/ - SD/ - ( LALIET KUMAR ) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE : B EN GAL URU D A T E D : 17 / 11 /2017 SRINIVASULU SPS ITA NO . 843 /BANG/201 7 PAGE 4 OF 4 COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A) - 4 CIT 5 DR ITAT BANGALORE. 6 GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY INCOME - TAX APPELLATE TRIBUNAL BANGALORE