Income TAx Officer Ward-7(2)(2), Bangalore V. M/s Canara Bank Staff Credit Co-operative Society Ltd , Bangalore

ITA 1169/BANG/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 7673 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 25-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G S PRASHANTH
• Assessee Lawyers: B R RAMESH
• Keywords: Tax effect
• Section: 6

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH 'A' BEFORE SHRI JASON P BOAZ, ACCOUNTANT MEMBER AND AND SHRI LALIET KUMAR, JUDICIAL MEMBER ITA NO.1169/BANG/2017 (ASST. YEAR 2013-14) THE INCOME-TAX OFFICER, WARD-7(2)(2), BENGALURU. . APPELLANT VS. M/S CANARA BANK STAFF CREDIT- CO-OPERATIVE SOCIETY LTD., NO.26, 8 TH MAIN ROAD, 6 TH CROSS, SR NAGAR, BANGALORE. . RESPONDENT PAN AAAAC0152A. APPELLANT BY : SHRI B.R RAMESH, JCIT REVENUE BY : SHRI G.S PR ASHANTH, C.A DATE OF HEARING : 16-07-2018 DATE OF PRONOUNCEMENT : 16-07-2018 O R D E R PER SHRI JASON P BOAZ, ACCOUNTANT MEMBER: THIS APPEAL AT THE INSTANCE OF THE REVENUE IS DIRE CTED AGAINST THE IMPUGNED ORDER DATED 21/2/2017 PASSED B Y THE COMMISSIONER OF INCOME-TAX (APPEALS) - 7, BANGALORE FOR ASST. YEAR 2013-14 RAISING THE FOLLOWING GROUNDS OF APPEA L :- ITA NO.1169/ B/17 2 1. THE ORDER OF THE LEARNED AO IN SO FAR AS IT IS AGAINST THE APPELLANT IS OPPOSED TO LAW, EQUITY, WE IGHT OF EVIDENCE, PROBABILITIES, FACTS AND CIRCUMSTANCES OF THE CASE. 2. THE [EARNED A.0. IS NOT JUSTIFIED IN DISALLOWING THE DEDUCTION OF RS.56,70,533/- CLAIMED ULS.80P[2][A][I] OF THE ACT UNDER THE FACTS AND IN THE CIRCUMSTANCES OF THE APPELLANT'S CASE. 3. THE LEARNED A.O. FAILED TO APPRECIATE THAT THE APPELLANT IS NOT A PRIMARY COOPERATIVE BANK WITHIN THE MEANING OF THE EXPLANATION TO SECTION 8OP[4] OF THE ACT, CONSEQUENTLY, THE PROVISIONS OF SECTION 80P[4] OF THE ACT ARE NOT APPLICABLE TO THE CASE OF THE APPELLANT. 4. WITHOUT PREJUDICE TO THE RIGHT TO SEEK WAIVER WI TH THE HON'BLE CCIT/DG, THE APPELLANT DENIES ITSELF LIABLE TO BE CHARGED TO INTEREST U/S 234-B OF THE A CT, WHICH UNDER THE FACTS AND IN THE CIRCUMSTANCES OF T HE APPELLANT'S CASE DESERVES TO BE CANCELLED. 5. FOR THE ABOVE AND OTHER GROUNDS THAT MAY BE URGE D AT THE TIME OF HEARING OF THE APPEAL, YOUR APPELLAN T HUMBLY PRAYS THAT THE APPEAL MAY BE ALLOWED AND JUSTICE RENDERED. 2. AT THE OUTSET, BOTH THE ID. AR FOR THE ASSESSEE AND DR FOR ITA NO.1169/ B/17 3 THE REVENUE SUBMITTED BEFORE THE BENCH THAT/THE TAX EFFECT PERTAINING TO THE AMOUNT DISPUTED BY THE REVENUE ISESS THAN TH E MONETARY LIMIT OF RS. 20 LAKH FIXED BY THE CBDT IN CIRCULAR NO. 03 /2018, DATED 11/07/2018, WHICH IS IN SUPERSESSION OF ITS CIRCULA R NO. 21/2015 DATED 10/12/2015, IN RELATION TO FILING OF APPEALS BEFORE THE INCOME TAX APPELLATE TRIBUNAL. TAKING INTO CONSIDERATION T HE AFORESAID SUBMISSIONS OF BOTH THE ID. AUTHORIZED REPRESENTATI VE FOR THE ASSESSEE AND THE DEPARTMENTAL REPRESENTATIVE FOR TH E REVENUE AND ALSO THE FACT THAT THE CBDT CIRCULAR UNDER REFERENC E APPLIES RETROSPECTIVELY EVEN TO PENDING APPEALS, WE HOLD TH AT THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED IN LIMINE. 3. IN THE RESULT, THE REVENUES APPEAL FOR ASST. YE AR 2013-14 IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16TH JULY, 2018 . SD/- SD/- (LALIET KUMAR) (JAS ON P BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMB ER BANGALORE DATED : 16/7/2018 VMS ITA NO.1169/ B/17 4 COPY TO :1. THE ASSESSEE 2. THE REVENUE 3.THE CIT CONCERNED. 4.THE CIT(A) CONCERNED. 5.DR 6.GF BY ORDER SR. PRIVATE SECRETAR Y, ITAT, BANGALORE ITA NO.1169/ B/17 5 1. DATE OF DICTATION 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER . 3. DATE ON WHICH THE APPROVED DRAFT COMES TO SR. P.S... 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER .. 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S. .. 6. DATE OF UPLOADING THE ORDER ON WE BSITE.. 7. IF NOT UPLOADED, FURNISH THE REASON FOR DOING SO .. 8. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK .. 9. DATE ON WHICH ORDER GOES FOR XEROX & ENDORSEMENT.. 10. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK . 11. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER . 12. THE DATE ON WHICH THE FILE GOES TO DISPATCH SEC TION FOR DISPATCH OF THE TRIBUNAL ORDER . 13. DATE OF DESPATCH OF ORDER. ..