2015 (6) TMI 1100

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....ndent By : S/Shri Manish Gupta & Praveen Jindal ORDER PER T.R.SOOD, A.M. Through this Misc. Application the Revenue has sought rectification of an error which has crept into the order of Tribunal in ITA No. 526/Chd/2013 dated 25.02.2014. 2. The Ld. DR referred to the Misc. Application and pointed out that Revenue's appeal was decided by the Tribunal with regard to the issue of relief a....

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....acts becomes clear from the order of Tribunal at page 5 wherein in para 13 of the order in the case of ACIT v Punjab State Cooperative Bank Ltd. (supra) has been reproduced. He further pointed out that even the Assessing Officer has discussed this issue regarding provisions of section 43D in the assessment order itself. He contended that since assessee is not a Scheduled Bank, therefore, decision ....

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....e in detail and he has also referred to the decision of Hon'ble Supreme Court in case of Southern Technologies Ltd v JCIT 320 ITR 577. The Assessing Officer further discussed the other decisions along with provisions of section 43D. The perusal of section 43D clearly shows that it applies only to the Scheduled Banks and this fact was admitted by Ld. Counsel also that the same applies only in c....