Constitution of Special Bench in the case of The Union Bank of India [ITA No. 424/M/2020 for A.Y 2015-16) and Central Bank sf India 1ITA 3740/M/2018 for A.Y 2013-14) – reg.
As per the order of the Hon’ble President, Income-Tax Appellate Tribunal, a Special Bench is constituted comprising of Justice (Retd.) C V Bhadang, President, Shri B R Baskaran, AM and Shri Amit Shukla, JM to decide the following issue:-
“Whether clause (b) to sub.sec.(2) of sec. 115JB of the Income tax Act inserted by Finance Act, 2012 w.e.f. 01.04.2013 will bring the assesses – banks constituted as “corresponding new bank” in terms of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 within the scope of sec. 115JB of the Act from assessment year 2013-14 onwards?”
The Appeal is listed for hearing before a Special Bench on 25.84.2824 at ITAT, Mumbai.
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