Appellant denies the liability to pay interest u/s 234B and 234C of the Income Tax Act, 1961

This case involves an appeal by a co-operative bank against an Income Tax Appellate Tribunal order concerning interest levied under sections 234B and 234C of the Income Tax Act, 1961. The bank had filed its return, and during scrutiny, the Assessing Officer made additions to its income. The Commissioner of Income Tax (Appeals) upheld certain disallowances, including general body meeting expenses due to a lack of documentary evidence, while other issues were allowed. The bank is now appealing these specific disallowances.

IN THE INCOME TAX APPELLATE TRIBUNAL
‘A’ BENCH : BANGALORE

BEFORE SHRI. B. R. BASKARAN, ACCOUNTANT MEMBER
AND
SMT. BEENA PILLAI, JUDICIAL MEMBER

 ITA No.904/BANG/2019
Assessment Year : 2012 – 13 

M/s The Mysore co-op Bank
Ltd.,
Gandhi Square,
Mysore – 570 001.
PAN – AAAAT 3068 L
APPELLANT 

Vs.

The Addl. Commissioner of
Income-tax,
Range-2,
Mysuru.
RESPONDENT

Appellant by : Shri S.V Ravishankar, Advocate
Respondent by : Shri Kannan Narayanan, JCIT

Date of Hearing : 08-07-2021`
Date of Pronouncement : 23-07-2021

ORDER

PER BEENA PILLAI, JUDICIAL MEMBER

Present appeal has been filed by assessee against order dated 22/02/2019 passed by the Ld. CIT (A), Mysore on following grounds of appeal: 

Brief facts of the case are as under:

2. The assessee is a co-operative bank and filed its original return of income on 30/09/2011. The case was selected for scrutiny and notices under section 143(2) was issued to assessee in response to which the representative of the assessee appeared before the Ld.AO and called requisite details as called for. Before completing the assessment in the absence of satisfactory explanation the Ld.AO made disallowances and computed total income in the hands of assessee at Rs.4,51,92,800/-.

2.1 Aggrieved by the order passed by the Ld.AO, assessee preferred appeal before the Ld.CIT(A).

3. The Ld.CIT(A) while completing appellate hearing concluded that the addition on disallowance made under section 36(1)(viia) of the act was not pressed by the Ld.AR and thereby dismissed the ground. In respect of the disallowance made regarding general body meeting expenses under section 37 (1) the Ld.CIT(A) held that as assessee did not substantiate its claim by with documentary evidences the addition is upheld. The other issues raised by assessee was allowed.

3.1 Aggrieved by the order of Ld.CIT(A) assessee is in appeal before us now.

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