Pandyan Grama Bank, Virudhunagar V. ACIT, Virudhunagar

ITA 1038/CHNY/2012

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 64611 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 18-12-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 11-05-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI BEFORE SHRI ABRAHAM P. GEORGE, ACCOUNTANT MEMBER AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER I.T.A. NO. 1038/MDS/2012 (ASSESSMENT YEAR : 2006-07) M/S PANDYAN GRAMA BANK, ADMN. OFFICE, NO.2-70-1, COLLECTORATE COMPLEX, VIRUDHUNAGAR 626 002. PAN : AAAAP 0895 P (APPELLANT) V. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE I, KATCHERI ROAD, VIRUDHUNAGAR 626 001. (RESPONDENT) APPELLANT BY :SHRI SAROJ KUMAR PARIDA, ADVOCATE RESPONDENT BY :SHRI GURU BASHYAM, JCIT DATE OF HEARING : 18.12.2012 DATE OF PRONOUNCEMENT : 18.12.2012 O R D E R PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER : IN THIS APPEAL FILED BY THE ASSESSEE, DIRECTED AG AINST AN ORDER DATED 29.2.2012 OF COMMISSIONER OF INCOME TAX (APPE ALS)-II, MADURAI, IT IS AGGRIEVED THAT THE CIT(APPEALS) CHANGED ITS L EGAL STATUS FROM CO- OPERATIVE SOCIETY TO A CORPORATE ENTITY WITH EFFECT FROM ASSESSMENT YEAR 2007-08. 2 I.T.A. NO. 1038/MDS/12 2. WHEN THE MATTER CAME UP BEFORE US, LEARNED COUNS EL FOR THE ASSESSEE ADMITTED THAT THE CIT(APPEALS) HAD ANNULLE D THE ORDER OF THE ASSESSING OFFICER, INTER ALIA, HOLDING THE REOPENIN G DONE TO BE NOT PROPER. SINCE ASSESSMENT HAS BEEN ANNULLED, LEARNE D A.R. FAIRLY ADMITTED THAT APPEAL OF THE ASSESSEE AGAINST THE SA ME ORDER OF THE CIT(APPEALS) HAD BECOME INFRUCTUOUS. 3. PER CONTRA, LEARNED D.R. DID NOT OFFER ANY COMME NTS. 4. WE HAVE PERUSED THE ORDERS AND HEARD THE RIVAL SUBMISSIONS. EARLIER, DEPARTMENT HAD MOVED IN APPEAL AGAINST THE VERY SAME ORDER OF CIT(APPEALS)-II, MADURAI, AND IN SUCH APPEAL, IT HA D ASSAILED THE DECISION OF CIT(APPEALS), WHEREBY HE HELD THE REOPE NING TO BE INVALID. THIS TRIBUNAL IN I.T.A. NO. 1051/MDS/2012 DATED 9 TH AUGUST, 2012, HELD THAT THE CIT(APPEALS) WAS JUSTIFIED IN HOLDING THE REOPENING TO BE INVALID. RESULT IS THAT THE REOPENING AND PURSUANT TO RE-ASS ESSMENT DONE FOR IMPUGNED ASSESSMENT YEAR, IS NO LONGER VALID. 5. SINCE REOPENING AND RE-ASSESSMENT HAVE BEEN HELD TO BE INVALID, IN OUR OPINION, THE GROUNDS TAKEN BY THE ASSESSEE I N ITS APPEAL, AGAINST THE VERY SAME ORDER OF THE CIT(APPEALS), WOULD NOT SURVIVE ANY MORE. IN ANY CASE, OBSERVATION MADE BY THE LD. CIT(A) IN RELATION TO CHANGE IN LEGAL STATUS IS, AT THE BEST, RELEVANT FOR ASSESSME NT YEAR 2007-08 ONLY 3 I.T.A. NO. 1038/MDS/12 AND IF THE ASSESSEE IS AGGRIEVED FOR THAT ASSESSMEN T YEAR, IT CAN SEEK REDRESSAL IN ACCORDANCE WITH THE PROVISIONS OF LAW. 6. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS D ISMISSED AS INFRUCTUOUS. THE ORDER WAS PRONOUNCED IN THE COURT ON TUESDAY, T HE 18 TH OF DECEMBER, 2012, AT CHENNAI. SD/- SD/- (VIKAS AWASTHY) (ABRAHAM P. GEORGE) JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 18 TH DECEMBER, 2012. KRI. COPY TO: (1) APPELLANT (2) RESPONDENT (3) CIT(A)-II, MADURAI (4) CIT-II, MADURAI (5) D.R. (6) GUARD FILE