The DCIT., Ahmedabad v. M/s UTI Bank Ltd, Ahmedabad

MA 431/AHD/2009 | 1996-1997
Pronouncement Date: 14-05-2010 | Result: Dismissed

Appeal Details

RSA Number 43120524 RSA 2009
Bench Ahmedabad
Appeal Number MA 431/AHD/2009
Duration Of Justice 4 month(s) 15 day(s)
Appellant The DCIT., Ahmedabad
Respondent M/s UTI Bank Ltd, Ahmedabad
Appeal Type Miscellaneous Application
Pronouncement Date 14-05-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted B
Tribunal Order Date 14-05-2010
Assessment Year 1996-1997
Appeal Filed On 30-12-2009
Judgment Text
IN THE INCOME TAX APPELLLATE TRIBUNAL AHMEDABAD BENCHES B AHM EDABAD BEFORE S/SHRI N.S.SAINI A.M & SHRI MAHAVIR SINGH J.M. M.A.NO.431/AHD/2009 (ARISING OUT ITA NO.324/AHD/2001 ASST.YEAR.1996-97 DATE OF HEARING: 14.5.10 DRAFED:14.54..10 DY. COMMISSIONER OF INCOME-TAX AHMEDABAD VS. UTI BANK LIMITED AHMEDABAD PAN NO.AAACU2414 (APPELLANT) (RESPONDENT) (ORIGINAL RESPONDENT) (ORIGINAL APPELLANT) APPELLANT BY : SHR I M.C. PANDIT SR-DR RESPONDENT BY: SHR I B GOPALA KRIHNAN AR ORDER PER MAHAVIR SINGH J.M. BY WAY OF THIS MISCELLANEOUS APPLICATION (MA) THE REVENUE HAS REQUESTED FOR AMENDMENT OF THE ORDER PASSED BY THE TRIBUNAL IN ITA NO.324/AHD/2001 DATED 21-11-2008 STATING THAT THERE IS MISTAKE AP PARENT FROM RECORD IN THE ORDER OF THE TRIBUNAL. 2. THE MAIN CONTENTION OF THE REVENUE WAS THAT THE CIT(A) THE ASSESSEE SUBMITTED ON THIS ISSUE OF CLAIM OF DEPRECIATION TH AT IF THE DEPRECIATION IS NOT ALLOWED IN THE ALTERNATIVE LEASE RENTAL RECEIVED BY THE ASSESSEE SHOULD BE DELETED. ACCORDING TO LD. SR-DR THE CIT(A) NOTED T HAT IN THE FACT OF THE CASE LEASE RENTAL RECEIVED WERE OF THE NATURE OF FINANCE CHARGE AND WERE THEREFORE TAXABLE. NOW IT IS SUBMITTED THAT ITAT IN THE ABOV E MENTIONED ORDER IN ITA NO.324/A/2001 FOR A.Y. 1996-97 DATED 21/11/2008 IN THE DIRECTIONS AS PRODUCED ABOVE IT HAS BEEN DIRECTED THAT:- IN CASE THE ASSESSING OFFICER HOLD THAT THE ASSET S DOES NOT EXIST AND DEPRECIATION IS NOT ALLOWABLE THEN THE LEASE RENTA LS DECLARED BY THE ASSESSEE SHOULD BE EXCLUDED FROM THE TOTAL INCOME O F THE ASSESSEE. 3. ACCORDING TO LD. SR-DR THE ISSUE OF TAXABILITY O R EXCLUSION OF RECEIPTS TERMED AS LEASE RENTALS HAS NOT BEEN EXAMINED IN R ESPECT OF THE OBSERVATION OF 2 THE CIT(A) ON THE MATTER. THE ITAT HAS NOT RECORDE D ANY FINDING IN RESPECT OF THE DECISION OF THE CIT(A) ON THE MATTER. HE STATE D THAT THE ABOVE MISTAKE IS A MISTAKE APPARENT FROM THE RECORD AND THEREFORE IT I S REQUESTED THAT THE TRIBUNAL MAY KINDLY RECTIFY THE MISTAKE AND PASS NECESSARY O RDER ACCORDINGLY. 4. AFTER HEARING THE LD. SR-DR AND GOING THROUGH TH E ORDER OF THE TRIBUNAL WE FIND THAT THE TRIBUNAL HAS RECORDED A CATEGORICA LLY FINDING THAT THE ASSESSING OFFICER WILL DECIDE THE ISSUE WHETHER THE ASSETS EX ISTS OR NOT AND THE DEPRECIATION ACCORDINGLY IS ALLOWABLE OR NOT. WE FIND NO MISTAKE IN THE ORDER OF THE TRIBUNAL. 5. IN THE RESULT REVENUES MA IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 14/05/2010. SD/- SD/- ( N.S.SAINI ) ( MAHAVIR SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER PLACE: AHMEDABAD. DATE : 14/05/2010 DKP* COPY OF THE ORDER FORWARDED TO :- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT CONCERNED 4. THE CIT(A)-XIII AHMEDABAD 5. THE DR ITAT AHMEDABAD 6. GUARD FILE (IN DUPLICATE) BY ORDER DR / AR ITAT AHMEDABAD