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Income Tax Appellate Tribunal, AHMEDABAD “B” BENCH
Before: Shri Mahavir Prasad & Shri Amarjit Singh
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before: Shri Mahavir Prasad, Judicial Member And Shri Amarjit Singh, Accountant Member ITA No. 1261/Ahd/2017 Assessment Year 2014-15
Co-op. Bank of Mehsana The DCIT, Ltd. 1st Floor, Mehsana Mehsana Circle Dist. Bank Building, Vs Apollo Enclave Rajmahel Road, Mehsana Rajmahel Road, PAN: AAAJT0160A Mehsana (Appellant) (Respondent)
Revenue by: Shri Mudit Nagpal, Sr. D.R. Assessee by: Shri Mehul Talera, A.R. Date of hearing : 11-01-2019 Date of pronouncement : 31-01-2019 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:-
This assessee’s appeal for A.Y. 2014-15, arises from order of the CIT(A), Gandhinagar, Ahmedabad dated 20-04-2017, in proceedings under section 143(3) of the Income Tax Act, 1961; in short “the Act”.
The solitary ground of appeal of the assessee is against the decision of ld. CIT(A) in confirming the addition to the extent of Rs. 1,31,150/- as locker rent from the depositors.
I.T.A No. 1261/Ahd/2017 A.Y. 2014-15 Page No 3 Co-op. Bank of Mehsana Ltd. vs. DCIT
Mehsana District Central Co-operative Bank Ltd. vs. ITO (2001) 119 Taxman 785 (SC) wherein it is held that locker rent derived by assessee was income from business of banking. In the light of the aforesaid fact and findings, we do not find any merit in levying locker rent on notional basis therefore, we are not inclined with the decision of the Ld. CIT(A). Accordingly, the appeal of the assessee is allowed.
In the result, the appeal of the assessee is allowed.
Order pronounced in the open court on 31-01-2019
Sd/- Sd/- (MAHAVIR PRASAD) (AMARJIT SINGH) JUDICIAL MEMBER ACCOUNTANT MEMBER Ahmedabad : Dated 31/01/2019 आदेश क� ��त�ल�प अ�े�षत / Copy of Order Forwarded to:- 1. Assessee 2. Revenue 3. Concerned CIT 4. CIT (A) 5. DR, ITAT, Ahmedabad 6. Guard file. By order/आदेश से, उप/सहायक पंजीकार आयकर अपील�य अ�धकरण, अहमदाबाद