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

IN THE INCOME TAX APPELLATE TRIBUNAL “B”, BENCH MUMBAI BEFORE SHRI MAHAVIR SINGH, JM & SHRI M.BALAGANESH, AM ITA No.7091/Mum/2017 (Assessment Year :2012-13) M/s.

Bombay Mercantile Co- operative Bank Ltd., Zain Rangoonwala, Building 78, Mohammad Ali Road, Mumbai – 400 003 Vs.

Dy.

Commissioner of Income Tax-1(1)(1), Mumbai, Aayakar Bhavan M.K.Road, Mumbai – 400 020 PAN/GIR No.AAAAB2359J (Appellant) .. (Respondent) Assessee by Shri B.V.

Jhaveri Revenue by Shri Mohammed Rizwan Date of Hearing 24/01/2019 Date of Pronouncement 30/01/2019 आदेश / O R D E R PER M.

BALAGANESH (A.M): 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.

2.

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 ITA No.7091/Mum/2017 M/s.

Bombay Mercantile Co-op Bank Ltd., 2 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 ITA No.1468/Mum/2017 dated 30/08/2018.

4.

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:- “5.

When this was pointed out to the learned Sr. earned Sr.

Departmental Representative, he agreed that the matter can be restored back and also agreed that the similar question is pending before the Hon'ble Bombay High Court.

In view of the above factual position, we restore these two grounds back to the file of the AO, who will apply the provisions of 158A and will decide the issue after the decision of Hon'ble Bombay High court, which is pending.

Accordingly, the appeal of assessee is allowed for statistical purposes.” 5.

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

ITA No.7091/Mum/2017 M/s.

Bombay Mercantile Co-op Bank Ltd., 3 6.

In the result, appeal of the assessee is allowed for statistical purposes.

Order pronounced in the open court on this 30/01/2019 Sd/- (Mahavir Singh) Sd/- (M.

Balaganesh) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 30/01/2019 Karuna Sr.PS Copy of the Order forwarded to : BY ORDER, (Asstt.

Registrar) ITAT, Mumbai 1.

The Appellant 2.

The Respondent.

The CIT(A), Mumbai.

CIT 5.

DR, ITAT, Mumbai 6.

Guard file. सत्यापित प्रतत //True Copy//