BOMBAY MERCANTILE CO-OPERATIVE BANK LTD,MUMBAI vs. DCIT 1(1)(1), MUMBAI

This is an appeal filed by the assessee directed against the order of Commissioner of Income Tax (Appeals) (in short CIT(A))-6, Mumbai dated 10/04/2015 for A.Y.2012-13 in the matter of order passed u/s.143(3) of the Income Tax Act, 1961.

The assessee has raised two grounds against the action of Ld. CIT(A) confirming the addition of Rs.1,60,07,715/- on account of amortization of M/s. Bombay Mercantile Co-op Bank Ltd., depreciation and addition of Rs.19,62,258/- on account of amortization of premium on investment. 3. At the outset, the Ld. AR pointed out that both the issues are covered by the Co-ordinate Bench decision of this Tribunal in assessee’s own case for succeeding assessment year i.e A.Y.2013-14 in dated 30/08/2018.

We have heard the rival submissions and we find that the assessee has also filed declaration u/s.158A(1) of the Act in Form No.8 which is enclosed in pages 39 and 40 of the paper book stating that the identical question of law is pending before the Hon’ble Bombay High Court in assessee’s own case for the A.Y.2006-07 and 2007-08. We also find that this issue is squarely covered by the decision of this Tribunal in assessee’s own case referred to supra wherein it was observed as under:-

Respectfully following the said decision, the grounds raised by the assessee are allowed for statistical purposes.