Maneed Service co-op Bank Ltd, Ernakulam V. The ITO, Thodupuzha

ITA 118/COCH/2020

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0215 (ITAT-COCHIN)
• Duration Of Justice: 4 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 22-06-2020
• Assessment Year: 2011-2012
• Appeal Filed On: 17-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRITUNJAYA SHARMA
• Section: 80P

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFOR E S/ SHRI CHANDRA POOJARI , AM & GEORGE GEORGE K., J M ITA NO. 118/COCH/2020 ASSESSMENT YEAR: 2011 - 12 M/S. MANEED SERVICE CO - OPERATIVE BANK LTD. NO.E - 59, MANEED P.O., PIRAVOM (VIA), ERNAKILAM - 686 664. VS. THE INCOME TAX OFFICER, WARD - 1, THODUPUZHA (ASSESSEE - APPELLANT) (REVENUE - RESPONDENT) A SSESSEE BY SHRI AMALJITH, CA REVENUE BY SHRI MRITUNJAYA SHARMA, SR. DR D ATE OF HEARING 23 /0 6 /2020 DATE OF PRONOUNCEMENT 24 / 0 6 /20 20 O R D E R PER CHANDRA POOJARI, AM: TH IS APPEAL AT THE INSTANCE OF THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE CIT(A), KOCHI - 2 DATED 18/12/2019. THE RELEVANT ASSESSMENT YEAR IS 2011 - 12. 2. TWO ISSUES ARE RAISED IN THESE APPEALS: 1) WHET HER THE RE - OPENING OF THE ASSESSMENT IS VALID. 2) WHETHER THE CIT(A) IS JUSTIFIED IN C ONFIRMING THE ASSESSING OFFICERS ACTION IN DENYING THE BENEFIT OF DEDUCTION U/S. 80P OF THE I.T. ACT. I.T.A. NO . 118/COCH/2020 . 2 3. AT THE OUTSET, WE NOTICE THAT THE ASSESSEE HAS RAISED FOLLO WING GROUND BEFORE THE CIT(A): THE ASSESSING OFFICER OUGHT TO HAVE COMMUNICATED THE REASONS TO BELIEVE RECORDED BY THE ASSESSING OFFICER FOR INITIATING PROCEEDINGS UNDER SECTION 147. HOWEVER, IT WAS NOT DONE BEFORE COMPLETION OF THE ASSESSMENT THOUGH I T WAS REQUESTED BY THE APPELLANT AND HENCE THE ASSESSMENT ORDER IS LIABLE TO BE QUASHED. 4. THE ABOVE GROUND GOES TO THE ROOT OF THE MATTER. WE NOTICE THAT THE CIT(A) HAS NOT ADJUDICATED THE SAME. THEREFORE, IN THE INTEREST OF JUSTICE AND EQUITY, WE ARE OF THE VIEW THAT THE ENTIRE ISSUE RAISED IN THIS APPEAL NEEDS TO BE CONSIDERED AFRESH BY THE CIT(A) . FOR THE ABOVE PURPOSE, THE CASE IS RESTORED TO THE FILE OF THE CIT(A). THE ASSESSEE SHALL CO - OPERATE AND SHALL FURNISH THE NECESSARY DETAILS CALLED FOR BY THE CIT(A). FURTHER, THE ASSESSEE SHALL NOT SEEK UNNECESSARY ADJUDICATION. IT IS ORDERED ACCORDINGLY. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 24 TH JUNE , 2020 . SD/ - SD/ - (GEORGE GEORGE K.) (CHANDRA POOJARI) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: KOCHI DATED: 24 T H JUNE , 20 20 GJ COPY TO: 1 . M/S. MANEED SERVICE CO - OPERATIVE BANK LTD. NO.E - 59, MANEED P.O., PIRAVOM (VIA), ERNAKULAM - 686 664. 2. THE INCOME TAX OFFICER, WARD - 1, THODUPUZHA I.T.A. NO . 118/COCH/2020 . 3 3 . THE COMMISSIONER OF INCOME - TAX(APPEALS), KOCHI - 2. 4. THE PR. COMMISSIONER OF INCOME - TAX, KOCHI. 5 . D. R., I.T.A.T., COCHIN BENCH, COCHIN. 5 . GUARD FILE. BY ORDER (ASSISTANT REGI STRAR) I.T.A.T., COCHIN