Pr. Commissioner Of Income Tax -2 v. Dena Bank

R.M. AMBERKAR(Private Secretary) IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO. 618 OF 2017 Pr. Commissioner of Income Tax -2 Versus ..Appellant Dena Bank ..Respondent ................... Mr. Suresh Kumar for the AppellantMr. Suresh Kumar for the Appellant ................... CORAM : AKIL KURESHI & S.J. KATHAWALLA, JJ. DATE : AUGUST 5, 2019. P.C.: 1.This appeal is filed by the Revenue to challenge thejudgment of the Income Tax Appellate Tribunal, Mumbai("the Tribunal" for short) dated 16.3.2016. 2.Following questions are presented for ourconsideration:- (i) On the facts and in the circumstances of the case and in law,the Tribunal erred in annulling the relevant order when theDepartment has filed before the High Court against the set-aside order of the Tribunal?the Tribunal erred in annulling the relevant order when theDepartment has filed before the High Court against the set-aside order of the Tribunal? (ii) On the facts and in the circumstances of the case and in law,the Tribunal erred in holding that the provision of Section115JB of the Income Tax Act, 1961 were not applicable to thethe Tribunal erred in holding that the provision of Section115JB of the Income Tax Act, 1961 were not applicable to the assessee bank relying on the decision in the case of UnionBank of India in 49 SOT 32 (Mum)/2011 which has not beenaccepted by the Department and appeal on the issue hasbeen filed before the Bombay High Court vide ITA No. 546 of2012?" 3.The appeal arises out of the consequentialassessments framed by the Assessing Officer pursuant to theorder passed by the Commissioner under Section 263 of theIncome Tax Act, 1961 ("the Act" for short). The centralissue is of applicability of the MAT provisions under Section115JB of the Act to the banking companies. This Court incase of CIT-LTU Vs. Union Bank of India[1] held thatSection 115JB would not apply to the banking companies. Inthat view of the matter, this appeal is dismissed. [ S.J. KATHAWALLA, J. ] [ AKIL KURESHI, J ] 1Judgment dated 16.4.2019 in Income Tax Appeal No. 1196 of 2013 and connected appeals.