Income Tax Appellate Tribunal - Panji
Deputy Commissioner Of Income-Tax,, ... vs Indira Mahila Sahakari Bank Ltd.,, ... on 29 November, 2017
आयकर अपील�य अ�धकरण "ए" �यायपीठ पुणे म� ।
IN THE INCOME TAX APPELLATE TRIBUNAL " A" BENCH, PUNE
सु�ी सुषमा चावला, �या�यक सद�य, एवं �ी अ�नल चतुव�द�, लेखा सद�य, के सम�
BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM
M A. No. 58 /PUN/2017
Arising out of ITA No. 110/PUN/2015
�नधा�रण वष� / Assessment Year : 2007-08
The Deputy Commissioner of income Tax,
Dhule.
....... आवेदक/ Applicant
बनाम / V/s.
M/s. Indira Mahila Sahakari Bank Ltd.
Shriram Tower, Station Road,
Nagar Parishad Area,
Nandurbar.
PAN : AAAAI0415Q
......��यथ� / Respondent
Appellant by : Shri Ajay Modi
Respondent by : Shri Pramod Shingte
सुनवाई क� तार�ख / घोषणा क� तार�ख /
Date of Hearing : 10.11.2017 Date of Pronouncement : 29.11.2017
आदे श / ORDER
PER SUSHMA CHOWLA, JM
The applicant/Revenue has filed the present miscellaneous application against the order of Tribunal dated 21.12.2016.
2. The grievance of the applicant/ Revenue is against the order of Tribunal in holding that the interest accrued on NPAs was not taxable in the hands of the respondent.
3. We find that the issue stands covered by the ratio laid down by the Hon'ble Bombay High Court and hence, the same was decided ex-parte the 2 MA No.58/PUN/2017 A.Y. 2007 -08 assessee. The issue raised in the miscellaneous application against the assessability of interest accrued on NPAs was decided in favour of the assessee by ratio laid down by the Hon'ble Bombay High court in the case of CIT Vs. Deogiri Nagri Sahakari Bank Ltd. in ITA No.53 of 2014. The Ld. DR for the applicant/Revenue has only referred to the appeal filed before Hon'ble Bombay High Court in another case which is pending for adjudication. However, where the issue is settled by the order of Hon'ble Jurisdictional High Court, there is no merit in the miscellaneous application filed by Revenue and hence, the same is dismissed.
4. In the result, miscellaneous application filed by the Revenue is dismissed.
Order pronounced on this 29th day of November, 2017.
Sd/- Sd/-
(ANIL CHATURVEDI) (SUSHMA CHOWLA)
लेखा सद�य/ACCOUNTANT MEMBER �या�यक सद�य/JUDICIAL MEMBER
पुणे / Pune; �दनांक / Dated : 29th November, 2017 SB आदे श क� ��त�ल�प अ�े�षत / Copy of the Order forwarded to :
1. अपीलाथ� / The Appellant.
2. ��यथ� / The Respondent.
3. The CIT(A)-I, Nashik.
4. The CIT-I, Nashik.
5. �वभागीय ��त�न�ध, आयकर अपील�य अ�धकरण, "ए" ब�च, पुणे / DR, ITAT, " A" Bench, Pune.
6. गाड� फ़ाइल / Guard File.
// True Copy //
आदे शानुसार / BY ORDER,
�नजी स�चव / Private Secretary
आयकर अपील�य अ�धकरण, पुणे / ITAT, Pune.