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Income Tax Appellate Tribunal, AHMEDABAD “B” BENCH, AHMEDABAD
ITA No. 3395/Ahd/2015 Sardar Gunj Mercantile Co-op Bank Ltd vs. DCIT Assessment Year : 2011-12 Page 1 of 2
IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH, AHMEDABAD [Coram: Pramod Kumar AM and S S Godara JM] ITA No. 3395/Ahd/2015 Assessment Year: 2011-12
The Sardar Gunj Mercantile ..............…………......Appellant Co-op. Bank Limited Sardar Gunj, Nr. Railway Station, Patan – 384 265 [PAN : AAAAP 3010 C]
Vs. The Dy. Commissioner of Income-tax ..............................Respondent Patan Circle, Patan
Appearances by: Manish Shah for the Appellant Mudit Nagpal for the Respondent Date of concluding the hearing : 09.01.2018 Date of pronouncing the order : 10.01.2018 O R D E R Per Pramod Kumar, AM:
By way of this appeal, the assessee-appellant has challenged correctness of the order dated 29th September 2015 passed by the by the CIT(A), Gandhinagar, Ahmedabad, in the matter of assessment under section 143(3) r.w.s. 147 of the Income-tax Act, 1961, for the assessment year 2011-12, on the following grounds:-
“1. The CIT(Appeals0 grossly erred in law in not adjudicating the contention raised by the assessee regarding validity of assessment order passed u/s 143(3) r.w.s. 147 as the said assessment order was barred by limitation. 2. The Ld. CIT(Appeals) erred in law in confirming the disallowance of Rs.5,83,292/- made by the Assessing Officer being premium of securities classified under ‘Head to Maturity’ category.”
When this appeal was called out for hearing, learned counsel for the assessee was fair enough to point out that the issue in appeal is now covered,
ITA No. 3395/Ahd/2015 Sardar Gunj Mercantile Co-op Bank Ltd vs. DCIT Assessment Year : 2011-12 Page 2 of 2
against him, by Hon’ble jurisdictional High Court judgment in the case of CIT vs. Rajkot Dist. Co-op Bank Ltd., [2014] 43 taxmann.com 161 (Guj.).
Learned Departmental Representative submitted that, as the issue is now covered against the assessee by the Hon’ble jurisdictional High Court judgment in the case of Rajkot Dist. Co-op. Bank Ltd. (supra), the grievances of the assessee are to be dismissed.
In view of above discussion, and respectfully following the esteemed views of the Hon’ble jurisdictional High Court in the case of Rajkot Dist. Co-op. Bank Ltd. (supra), we reject the grievances of the assessee.
In the result, the appeal is dismissed. Pronounced in the open court today on the 10th day of January, 2018.
Sd/- Sd/-
S S Godara Pramod Kumar (Judicial Member) (Accountant Member) Ahmedabad, the 10th day of January, 2018 *bt Copies to: (1) The appellant (2) The respondent (3) Commissioner (4) CIT(A) (5) Departmental Representative (6) Guard File By order