PR. COMMISSIONER OF INCOME TAX Vs. CANARA BANK

JUDGEMENT

(1.) The Revenue is in appeal for laying a challenge to the ITAT order dtd. 30/1/2024 whereby its Appeal in ITA No.994/Bang/2023 has been negatived following a Coordinate Bench decision of this Court in ITA No.346/2018 between COMMISSIONER OF INCOME TAX vs. M/S. CANARA BANK disposed of on 10/2/2023.

(2.) The Revenue has raised the following substantial questions of law for consideration:

(3.) Learned counsel appearing for the Assessee resists the appeal contending that there is no error attributable to the order of the Tribunal, since it has simply followed the law declared by the Coordinate Bench in M/S. CANARA BANK supra. The reply of the panel counsel that this judgment is put in challenge before the Apex Court in Dairy No.44987/2023 and therefore, the matter requires consideration at the hands of this Court is difficult to countenance, especially when there is no interim order granted by the Apex Court staying the said judgment.