The Income Tax Officer, Ward- 2(1), Belgaum., Belgaum V. Shri Suvarnalaxmi Co-op. Society Ltd., Belagavi

ITA 112/PAN/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 1242 (ITAT-PANAJI)
• Duration Of Justice: 2 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 16-06-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JOSEPH L LODRIGUES
• Assessee Lawyers: SHIVANAND VILAS HABHAVI
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI, HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER ITA NO. 112 / PAN /201 6 (ASST. YEAR : 20 1 2 - 13 ) ITO, WARD - 2( 1 ) , BELGAUM . VS. SHRI SUVARNALAXMI COOPERATIVE SOCIETY LTD., 2015, CHAVAN TOWER, GANPAT GA LLI, BELAGAVI. PAN NO. AAAAS 5740 C (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI SHIVANAND VILAS HABHAVI C A DEPARTMENT BY : S HRI JOSEPH L. LODRIGUES - DR DATE OF HEARING : 25 / 0 8 /201 6 . DATE OF PRONOUNCEMENT : 25 / 08 /201 6 . O R D E R PER GEORGE MATHAN , JUDICIAL MEMBER THIS IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) , BELAGAVI IN APPEAL NO. 465/ BGM / 20 1 4 - 1 5 , DATED 21 /0 3 /201 6 FOR THE ASSESSMENT YEAR 201 2 - 1 3 . 2. THE ONLY ISSUE INVOLVED IN THIS APPEAL IS THAT THE COMMISSIONER OF INCOME TAX (APPEALS) ERRED IN DELETING THE ADDITION BY HOLDING THAT TH E ASSESSEE IS A COOPERATIVE SOCIETY AND ACCORDINGLY DIRECT ED THE ASSESSING OFFICER TO GRANT DEDUCTION TO THE ASSESSEE - SOCIETY UNDER SECTION 80P(2)(D) OF THE ACT . 3. AT THE TIME OF HEARING, AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT TAX EFFECT IN THE PRESENT APPEAL WAS BELOW 10 LAC AND 2 ITA NO. 1 1 2 / PAN /201 6 IN VIEW OF THE CBDT CIRCULAR N O . 21/2015 DATED 10/12/2015 , THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE. 4 . DEPARTMENTAL REPRESENTATIVE ALSO AGREED WITH THE ABOVE SUBMISSION OF THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE. THEREFORE, WE DI SMISS THE APPEAL OF THE REVENUE ON ACCOUNT OF LOW TAX EFFECT . 5 . IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON T H U R S D A Y , THE 2 5 TH DAY OF A U G U S T , 201 6 AT GOA . S D / - S D / - (N.S.SAINI) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER D ATED : 2 5 TH A U G U S T , 201 6 . VR/ - COPY TO: 1 . THE ASSESS E E. SHRI SUVARNALAXMI COOPERATIVE SOCIETY LTD., 2015, CHAVAN TOWER, GANPAT GA LLI, BELAGAVI. 2 . THE REVENUE. ITO, WARD - 2( 1 ) , BELGAUM . 3 . THE P R . CIT , B E L A G A V I . 4 . THE CIT(A) , B E L A G A V I . 5 . THE D.R . 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI