DCIT 2(3), MUMBAI vs. DENA BANK, MUMBAI

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ITA 5434/MUM/2014Status: DisposedITAT Mumbai16 March 2016AY 2007-083 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that a previous order of the ITAT had already set aside the revision order of the CIT. Consequently, the fresh assessment order made by the AO became infructuous.

What were the facts?

The Revenue appealed an order by the CIT(A) which annulled a previous order. The CIT(A) had held that Section 115JB was not applicable to the assessee bank, relying on a prior tribunal decision.

What were the issues?

Whether the CIT(A) erred in annulling the order when the Revenue had filed an appeal against a set-aside order. Whether Section 115JB was applicable to the assessee bank.

Which sections of the Income-tax Act were involved?

Section 115JB,Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

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Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

Before: SHRI D. KARUNAKARA RAO & SHRI RAM LAL NEGI

For Appellant: Shri A.K. Srivastava, CIT
For Respondent: Shri Anantan
Hearing: 16.03.2016Pronounced: 16.03.2016

PER D. KARUNAKARA RAO, AM:

This appeal filed by the Revenue on 27.8.2014 is against the order of the CIT (A)-6, Mumbai dated 13.5.2014 for the assessment year 2007-2008. In this appeal, Revenue raised the following grounds which read as under:- “1. On the facts and in the circumstances of the case and in law, the Ld CIT (A) erred in annulling the relevant order when the Department has filed before the Hon’ble High Court against the set-aside order of the ITAT.

2.

On the facts and in the circumstances of the case and in law, the Ld CIT (A) erred in holding that the provision of section 115JB of the Income Tax Act, 1961 were not applicable to the assessee bank relying on the decision in the case of Union Bank of India in 49 SOT 32 (Mum) 2011 which has not been accepted by the Department and appeal on this issue in the case has been filed before the Hon’ble High Court of Bombay vide ITA No.546 of 2012.”

2.

At the outset, Ld Counsel for the assessee briefly narrated the facts of the case and bringing our attention to the order of the Tribunal in ITA No.3675/M/2012 (AY 2007-08), dated 5.2.2014, he mentioned that vide para 15 of the said order, the Tribunal quashed the revision order dated 29.3.2012 of the CIT made u/s 263 of the Act. Therefore, considering the said Tribunal’s order (supra), the fresh assessment order made u/s 143(3) r.w.s 263 of the Act, dated 13.3.2013 becomes infructuous.

3.

After hearing both the parties and on perusal of the said Tribunal’s order (supra), dated 5.2.2014, we find, vide para 15, the Tribunal set aside the revision order of the CIT. Considering the significance of the said order for the sake of completeness of this order, the relevant lines are extracted as under:- “15. We have heard the parties, and perused the material on record. The appeal, as would be apparent, would become infructuous in view of our decision in the assessee’s appeal on quantum, following the consistent view of the Tribunal, that section 115JB is not applicable to the assessee company. We, accordingly, set aside the impugned order.............”

4.

Considering the above decision of the Tribunal, the fresh assessment order made by the AO does not have legs to stand. Accordingly, the appeal filed by the Revenue becomes infructuous. Thus, the appeal filed by the Revenue is dismissed as infructuous.

5.

In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on 16th March, 2016. (RAM LAL NEGI) ACCOUNTANT MEMBER भुंफई Mumbai; ददनांक 16.3.2016 व.नन.स./ OKK , Sr. PS आदेश की प्रतिलऱपि अग्रेपिि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent. 2. आमकय आमुक्त(अऩीर) / The CIT(A)- 3. 4. आमकय आमुक्त / CIT ववबागीम प्रनतननधध, आमकय अऩीरीम अधधकयण, भुंफई / DR,

5.

ITAT, Mumbai 6. गार्ड पाईर / Guard file. सत्मावऩत प्रनत ////

आदेशानुसार/ BY ORDER, उि/सहायक िंजीकार (Dy./Asstt.

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