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TMI Blog2015 (12) TMI 1183X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Appeal Nos. 2027 & 2102 of 2013 - - - Dated:- 7-12-2015 - M. S. Sanklecha And G. S. Kulkarni, JJ. For the Appellants : Mr Suresh Kumar i/b Mr Vipul Bajpayee Adv. For the Respondents : Mr J D Mistry Sr. Counsel a/w Mr J Desai Mr A Kakri i/b M/s Singhi Co ORDER P.C. 1. Both these appeals under Section 260A of the Income Tax Act, 1961 (the 'Act') challenges the common order dated 31 October 2012 passed by the Income Tax Appellate Tribunal. 2. The revenue has raised the following identical questions of law for our consideration: Whether on the facts and in the circumstances of the case and in law the Tribunal did not err in holding that in view of the decision in the case of Malabar Indust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arch 2010 confirmed the notice under Section 263 of the Act. Therefore the Commissioner of Income Tax by order dated 29 March 2010 set aside the Assessment order dated 29 November 2007 and restored the issue to the Assessing Officer to pass a fresh order. 7. Being aggrieved by the order dated 29 March 2010 of the Commissioner of Income Tax passed under Section 263 of the Act for Assessment year 200506 challenged it before the Tribunal. A similar order was also passed by the Commissioner of Income Tax in exercise of its powers under Section 263 of the Act for Assessment year 2006-07. This was challenged by the respondent-assessee before the Tribunal. 8. By a common impugned order the Tribunal allowed the respondent-assessee's appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in HDFC BANK LTD(supra) was a subject matter of challenge before this Court being COMMISSIONER OF INCOME TAX 12 vs. HDFC BANK LTD 366 ITR 505 (Bom)wherein the appeal of the revenue against the same was not entertained by following its decision in CIT vs LORD KRISHNA BANK 366 ITR 416 and upholding the view of the Tribunal. Mr.Suresh Kumar learned counsel for the revenue is unable to show why the decision of this Court in HDFC BANK LTD (supra) should not be applied to the present facts being the jurisdictional Court. Reliance placed upon the decision of the Karnataka High Court in COMMISSIONER OF INCOME TAX vs.ING VYASA BANK LTD (supra) prima facie does not deal specifically with the issue of Securities (HTM) with which we are concerned. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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