Commissioner Of Income Tax , (Large Taxpayer Unit) Kolkata v. M/S. Uco Bank

O 71

IN THE HIGH COURT AT CALCUTTA

SPECIAL JURISDICTION [INCOME TAX] ORIGINAL SIDE ITA/11/2021 COMMISSIONER OF INCOME TAX , (LARGE TAXPAYER UNIT) KOLKATA VS M/S. UCO BANK BEFORE :

HON'BLE JUSTICE SURYA PRAKASH KESARWANI -A N DHON'BLE JUSTICE AJAY KUMAR GUPTA DATE : 1st July, 2024.

Appearance :

Mr. Vipul Kundalia, Adv.

...for appellant Mr. A.K.Dey, Adv.

...for respondent

1. Heard Mr. Vipul Kundalia, learned Counsel for the appellant and Mr. A.K. Dey, learned Counsel for the respondent.

2. This appeal relates to assessment year 2000-2001 which has been admitted by this Court by an order dated 14.01.2021, on the following substantial question of law:- (i) Whether a nationalised banking company would be subject to the requirements of Section 115JA of the Income Tax Act, 1961?

3. Though the learned Counsel for the parties jointly state that the controversy involved in the present appeal is jointly covered by a judgment of this Court dated 3rd December, 2021 in ITA/12/2021 (Principal Commissioner of Income Tax-vs-Damodar Valley Corporation).

4. In view of the aforesaid judgment, this appeal deserves to be dismissed and substantial question of law deserves to be answered in favour of the assessee and against the revenue.

5. In view of the submissions made by learned Counsel for the parties, the appeal is dismissed and the substantial question of law is answered in favour of the assessee and against the revenue. .

(SURYA PRAKASH KESARWANI, J.) (AJAY KUMAR GUPTA, J.) GH.