Shri Bipinchandra Manishanker Rajyaguru, AMRELI V. The Income Tax Officer, Ward-2(4), RAJKOT-GUJARAT

ITA 113/RJT/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 2350 (ITAT-RAJKOT)
• Duration Of Justice: 9 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 19-01-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 30-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C S ANJARIA
• Assessee Lawyers: DS VARIA
• Keywords: Benefit of exemption; Revised return
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH , RAJKOT BEFORE: S H RI PRAMOD KUMAR , ACCOUNTANT MEMBER AND SHR I S. S. GODARA , JUDICIAL MEMBER [CONDUCTED THROUGH E - C OURT AT AHMEDABAD] BIPINCHANDRA MANISHANKAR RAJYAGUR, BRAHMAN SOCIETY, LATHI ROAD, NR. RAILWAY CROSSING, AMRELI PAN: ABMPR4753N (APPELLANT) VS THE INCOME TAX OFFICER, WARD - 2(4), AMR ELI (RESPONDENT) REVENUE BY : S H RI C.S. ANJARIA , D . R. ASSESSEE BY: S H RI D.S. VARIA , A.R. DATE OF HEARING : 19 - 01 - 2 016 DATE OF PRONOUNCEMENT : 21 - 01 - 2 016 . / ORDER P ER : S. S. GODARA , JUDICIAL MEMBER : - THI S ASSESSEE S APPEAL FOR A.Y. 2008 - 09 , AR ISES FROM ORDER OF THE CIT(A) - 3, RAJKOT DATED 2 6 - 02 - 2015 IN APPEAL NO. CIT(A) - 3 / RJT/0560/13 - 14 , IN PROCEEDINGS UNDER SECTION 154 OF THE INCOME TAX ACT, 1961; I N SHORT THE ACT . I T A NO . 113 / RJT /20 15 A SSESSMENT YEAR 200 8 - 09 I.T.A NO. 113 /RJT /20 15 A.Y. 2008 - 09 PAGE NO BIPINCHANDRA M ANISHANKAR RAJYAGUR VS. ITO 2 2. THE ASSESSEE S SOLE SUBSTANTIVE GROUND CHALLENGES ACTION OF BOTH THE LOWER AUTHORITIES IN REJECTING HIS RECTIFICATION PE TI TION FILE U/S. 154 OF THE ACT SEEKING TO CLAIM SECTION 10(10C) EXEMPTION OF RS. 5 LACS RELATING TO EXIT OPTION SCHEME OFFERED BY HIS EMPLOYER STATE BANK OF INDIA. THERE IS NOT MUCH DISPUTE ON FACTS OF THE CASE. THE ASSESSEE - INDIVIDUAL FILED HIS RETURN ON 12 - 08 - 2008 DECLARING INCOME OF RS. 6,48,195/ - . THE SAME WAS PROCESSED ON 29 - 12 - 2008. IT IS TO BE SEEN THAT T HE ASSESSEE HAD OPTED FOR VOLUNTARY RETIREMENT SCHEME OF HIS EMPLOYER BANK. HE RECEIVED PROVIDENT FUND, GRATUITY AND EX - GRATIA PAYMENT OF RS. 7,56,119/ - , RS. 3,50,000/ - AND RS. 7,02,634/ - ; RESPECTIVELY. IT APPEARS THAT THE ASSESSEE COULD NOT CLAIM EXEMPT ION BENEFIT QUA THE SAME U/S. 10(10C) OF THE ACT. HIS FILED THE IMPUGNED RECTIFICATION DT. 26 - 02 - 2013/12 - 04 - 2013 SEEKING THE ABOVE STATED EXEMPTION. THE ASSESSING OFFICER IN HIS ORDER DATED 29 - 04 - 2013 QUOTED CASE LAW OF GOETZE (INDIA) LTD VS. CIT (2006) 157 TAXMAN 01 (SC) HOLDING THAT AN ASSESSEE CANNOT RAISE DEDUCTION CLAIM OTHER THAN BY FILING A REVISED RETURN AND DECLINED THE RECTIFICATION RELIEF. THE CIT(A) UPHE LD ASSESSING OFFICER S ACTION. 3. WE HAVE HEARD BOTH THE PARTIES. CASE FILE PERUSED. THE RE IS NO DISPUTE ABOUT FACTS OF THE CASE NARRATED HEREINABOVE. THE ASSESSEE HAS SOUGHT THE IMPUGNED RECTI FICATION QUA HIS EX - GRATIA PAYMENT HEREINABOVE. THIS IS NOT THE REVENUE S CASE THAT HE IS OTHERWISE NOT ENTITLED FOR THIS EXEMPTION BENEFIT OF RS. 5 LACS. BOTH THE AUTHORITIES REJECT THIS REC TI FICATION RELIEF ON THE GROUND THAT HE OUGHT TO HAVE FILED A REVISED RETURN AS PER THE ABOVE STATED CASE LAW. I.T.A NO. 113 /RJT /20 15 A.Y. 2008 - 09 PAGE NO BIPINCHANDRA M ANISHANKAR RAJYAGUR VS. ITO 3 A PERUSAL THEREOF REVEALS THAT THEIR LORDSHIPS MAKE IT CLEAR THAT THE SAME DOES NOT IMPINGE UPON POWE RS OF THE TRIBUNAL OR APPELLATE AUTHORITY IN ENTERTAINING SUCH A CLAIM IN ACCORDANCE WITH LAW. THE REVENUE FAILS IN POINTING OUT ANY EXCEPTION TO THE SAME. WE ACCORDINGLY ADMIT THE ASSESSEE S RECTIFICATION CLAIM IN THE INTEREST OF SUBSTANTIVE JUSTICE AND DIRECT THE ASSESSING OFFICER TO PROCEED AFRESH AS PER LAW. THE ASSESSEE S ARGUMENTS SEEKING TO ENTERTAIN HIS RECTIFICA TION PETITION ARE ACCEPTED IN PRINCIPLE. 4 . THIS ASSESSEE S APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. . ORDER PR ONO UNCED IN THE OPEN C OURT ON 21 - 01 - 201 6 SD/ - SD/ - (PRAMOD KUMAR ) ( S. S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD : DATED 21 /01/2016 AK / COPY OF ORDER FORWARDED TO: - 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER, ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, RAJKOT