ITO, Salem V. S 1069 Kuppanoor PACCS Ltd., Salem

ITA 1292/CHNY/2016

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 7795 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-12-2016
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 01-11-2016
• Assessment Year: 2012-2013
• Appeal Filed On: 10-05-2016
• Court: TRIBUNAL
• Department Lawyers: AWIJIT RAKSHIT
• Assessee Lawyers: T VASUDEVAN AVOCATE
• Section: 143(3)

Judgement Text

, , IN THE INCOME - TAX APPELLATE TRIBUNAL B BENCH, CHENNAI . , . , BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER & SHRI DUVVURU R L REDDY , JUDICIAL MEMBER ./ I T.A. NO. 1292 /MDS/201 6 / ASSESSMENT YEAR :20 1 2 - 1 3 THE INCOME TAX OFFICER, WARD 2(1), SALEM. VS. M/S. S 1069 KUPPANOOR PACCS LTD., KUPPANOOR (PO), SALEM 636 122. [PAN:AAEAS6578C] ( / APPE LLANT ) ( / RESPONDENT ) / APPELLANT BY : SHRI AWIJIT RAKSHIT, JCIT / RESPONDENT BY : SHRI T. VASUDEVAN, AVOCATE / DATE OF HEARING : 01 . 11 .201 6 / DATE OF P RONOUNC EMENT : 23 . 1 2 .201 6 / O R D E R PER DUVVURU RL REDDY , JUDICIAL MEMBER : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX ( APPEALS ) , SALEM , DATED 10 . 0 3 .201 6 RELE VANT TO THE ASSESSMENT YEAR 20 1 2 - 1 3 . THE ONLY EFFECTIVE GROUND RAISED IN THE APPEAL OF THE REVENUE IS THAT THE LD. CIT(A) HAS ERRED IN ALLOWING DEDUCTION UNDER SECTION 80P(2)(A)(I) OF THE INCOME TAX ACT, 1961 [ ACT IN SHORT]. I.T.A. NO. 1292 /M/16 2 2. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE IS A PRIMARY AGRICULTURAL CREDIT CO - OPERATIVE SOCIETY FILED ITS RETURN OF INCOME ON 22.11.2012 ADMITTING TOTAL INCOME OF . NIL AFTER CLAIMING DEDUCTION UNDER SECTION 80P OF THE ACT TO THE TUNE OF .45,54,777/ - . THE RETURN FILED BY THE ASSESSEE WAS PROCESSED UNDER SECTION 143(1) OF THE ACT. THE CASE OF THE ASSESSEE WAS SELECTED FOR SCRUTINY AND NOTICE UNDER SECTION 143(2) OF THE ACT WAS SERVED ON THE ASSESSEE ON 14.08.2013. IN RESPONSE THERETO, THE ASSESSEE FILED ALL DETAILS AS CALLED FOR. AFTER VERIFICATION OF THE DETAILS FILED BY THE ASSESSEE, THE ASSESSING OFFICER HAS COMPLETED THE ASSESSMENT UNDER SECTION 143(3) OF THE AC T BY ALLOWING DEDUCTION UNDER SECTION 80P(2(C) AND DISALLOWING THE CLAIM OF DEDUCTION UNDER SECTION 80P(2)(A)(I) OF THE ACT. 3. ON APPEAL, BY FOLLOWING THE VARIOUS DECISION S OF THE TRIBUNAL ON THE IDENTICAL FACTS AND CIRCUMSTANCES, THE LD. CIT(A) ALLOWED THE APPEAL OF THE ASSESSEE. 4. AGGRIEVED, THE REVENUE IS IN APPEAL BEFORE THE TRIBUNAL AND RELIED ON THE ORDER OF THE ASSESSING OFFICER. 5. ON THE OTHER HAND, THE LD. COUNSEL FOR THE ASSESSEE HAS I.T.A. NO. 1292 /M/16 3 SUBMITTED THAT AGAINST THE ORDER OF THE TRIBUNAL, THE APPEALS FILED BY THE DEPARTMENT IN RESPECT OF VARIOUS ASSESSEES HAVE BEEN ADJUDICATED AGAINST THE REVENUE BY THE HON BLE MADRAS HIGH COURT VIDE ITS ORDER IN TCA NOS. 484 TO 487 AND 490 OF 2016 DATED 02.08.2016. THUS, HE PRAYED THAT THE APPEAL FILED BY THE REVENUE SHOULD BE DISMISSED. 6. WE HAVE HEARD BOTH SIDES, PERUSED THE MATERIALS AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF AUTHORITIES BELOW. BEFORE US, BOTH PARTIES HAVE AGREED THAT THE ASSESSEE IS ELIGIBLE TO CLAIM DEDUCTION UNDER SECTION 80P( 2)(A)(I) OF THE ACT IN VIEW OF THE ABOVE DECISIONS OF THE HON BLE JURISDICTIONAL HIGH COURT. IN SIMILAR FACTS AND CIRCUMSTANCES ON AN IDENTICAL ISSUE, WHILE DECIDING THE APPEALS AGAINST THE REVENUE IN TCA NOS. 484 TO 487 AND 490 OF 2016 DATED 02.08.2016 IN THE CASE OF CIT V. TIRUCHENGODE AGRICULTURAL PRODUCERS COOPERATIVE MARKETING SOCIETY LTD. AND IN THE CASE OF CIT V. S - 1308 AMMAPET PRIMARY AGRIL. COOP. BANK LTD. , THE HON BLE HIGH COURT HAS FOLLOWED ITS OWN ORDER IN TCA NOS. 735, 755 OF 2014 AND 460 OF 2015 DATED 05.07.2016, WHEREIN, IT WAS SPECIFICALLY DIRECTED THE ASSESSING AUTHORITY TO GRANT THE BENEFIT TO THE ASSESSEE AVAILABLE UNDER SECTION 80P(2)(A)(I) OF THE ACT. RESPECTFULLY FOLLOWING THE ABOVE DECISION OF THE HON BLE HIGH COURT, THE GROUND RAIS ED IN THE APPEAL OF THE REVENUE IS I.T.A. NO. 1292 /M/16 4 DISMISSED. 7. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED ON THE 23 RD DECEMBER , 2016 AT CHENNAI. SD/ - SD/ - (A. MOHAN ALANKAMONY ) ACCOUNTANT MEMBER ( DUVVURU RL REDDY ) JUDICIAL MEMBER CHENNAI , DATED, THE 23 . 1 2 .201 6 VM/ - / COPY TO: 1. / APPELLANT , 2. / RESPONDENT , 3. ( ) / CIT(A) , 4. / CIT , 5. / DR & 6. / GF.