MAHALAXMI CO-OP BANK LTD,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,

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ITA 2617/PUN/2016Status: DisposedITAT Pune29 October 2018AY 2013-143 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the restriction of deduction under Section 36(1)(viia) to the extent of provision in the books of account, following previous precedents. The Tribunal also admitted that the question of law was pending before the High Court.

What were the facts?

The assessee bank claimed deduction under Section 36(1)(viia) of the Income Tax Act. The Assessing Officer restricted this deduction to the provision made in the books of account. The assessee appealed this restriction.

What were the issues?

Whether the deduction under Section 36(1)(viia) should be restricted to the provision made in the books of account. Whether the appeal should be kept alive pending a High Court decision on an identical issue.

Which sections of the Income-tax Act were involved?

Section 36(1)(viia),Section 158A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI R.S. SYAL & SHRI VIKAS AWASTHY, JM

For Appellant: Shri Ajinkya Jogaje
For Respondent: Shri Pankaj Garg
Hearing: 29.10.2018Pronounced: 29.10.2018

PER R.S.SYAL, VP :

These two appeals by the assessee relating to assessment years 2012- 13 and 2013-14 involve common issue. These are, therefore, clubbed for disposal by this consolidated order for the sake of convenience.

2.

The only ground raised by the assessee in these appeals is against restricting the deduction u/s. 36(1)(viia) to the extent of provision in the books of account.

3.

At the outset, Ld. AR submitted that similar issue has been decided against the assessee by the Tribunal in the preceding years. He submitted that the Hon’ble High Court has admitted the assessee’s ground against the Tribunal order on this issue. A prayer was, therefore, made to keep the issue alive and await the decision of the Hon’ble High Court on this issue.

ITA Nos.2616 & 2617/PUN/2016 Mahalaxmi Co-op. Bank Ltd.,

4.

In view of the fact that similar issue has been decided earlier against

the assessee by the Tribunal, respectfully following the precedent, we uphold

the impugned orders in restricting the claim of deduction u/s.36(1)(viia) to the

extent of provision in the books of account.

5.

Chapter XIV-A of the Income-tax Act deals with the provision for

avoiding repetitive appeals. It has only one section 158A which contains a

procedure when assessee claims that identical question of law is pending

before High Court or Supreme Court. In the instant case the assessee wants

to keep the matter alive till the decision of the Hon'ble High Court on the said

issue. We, therefore, admit, in terms of sec. 158A(3), that the question of law

arising in the instant appeal, is identical with the question of law stated to be

pending before the Hon'ble High Court. Resultantly the appeals of the

assessee are dismissed as per sec. 158A(4). It is, however, made clear that

when this issue is decided by the Hon'ble High Court, amendment, if

necessary, shall be made as per the mandate of sec. 158A(5).

6.

In the result, the appeals are dismissed.

Order pronounced in the Open Court on 29th October, 2018.

Sd/- Sd/- (VIKAS AWASTHY) (R.S.SYAL) �याियक �याियक सद�य �याियक �याियक सद�य सद�य /JUDICIAL MEMBER उपा�य� सद�य उपा�य�/ VICE PRESIDENT उपा�य� उपा�य�

पुणे Pune; �दनांक Dated : 29th October, 2018 सतीश

ITA Nos.2616 & 2617/PUN/2016 Mahalaxmi Co-op. Bank Ltd.,

आदेश आदेश क� आदेश आदेश क� क� �ितिलिप क� �ितिलिप �ितिलिप अ�ेिषत �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order is forwarded to : अ�ेिषत

अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / The CIT(A)-1, Kolhapur 3.

4.

The CIT-I, Kolhapur िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे “बी 5. बी बी” / DR ‘B’, बी ITAT, Pune; गाड� फाईल / Guard file. 6.

आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार

/ True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune.**

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