The ITO, Ward-15(1), Ahmedabad V. Shri Arvindbhai Bhimjibhai Umat, Ahmedabad

ITA 174/AHD/2010

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 60441 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 4 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-05-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 19-01-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ARVIND B UMAT

Judgement Text

ITA NO.1 74/AHD/2010 ASSESSME NT YEAR 2007- 08 . 1 IN THE INCOME TAX APPELLATE TRIBUNAL C BENC H, AHMEDABAD (BEFORE SHRI G.C.GUPTA VICE PRESIDENT & SHRI ANIL C HATURVEDI, A.M.) I.T.A. NO.174 /AHD/2010 (ASSESSMENT YEAR: 2007-08) INCOME TAX OFFICER, WARD-15(1), VASANT NATURE VIEW BUILDING, ASHRAM ROAD, AHMEDABAD. (APPELLANT) VS. SHRI ARVINDBHAI B. UMAT, 28,SHYAMSUNDAR SOCIETY, OPP. VEJALPUR POLICE CHOWKY, VEJALPUR, AHMEDABAD. (RESPONDENT) PAN: AAFPU 2198G BY REVENUE : SHRI VINOD TANWANI, SR. D.R. BY ASSESSEE : SHRI ARVIND B.UMAT. ( )/ ORDER DATE OF HEARING : 16-5-2012 DATE OF PRONOUNCEMENT : 25-5-2012 PER: SHRI ANIL CHATURVEDI,ACCOUNTANT MEMBER. THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORD ER OF LD. CIT(A)-XXI, AHMEDABAD DATED 12-11-2009, FOR THE ASS ESSMENT YEAR 2007-08. ITA NO.1 74/AHD/2010 ASSESSME NT YEAR 2007- 08 . 2 2. THE REVENUE HAS TAKEN ONLY ONE GROUND WHICH READ S AS UNDER:- 1. THE LD. CIT (A) HAS ERRED IN LAW AND ON FACTS I N DELETING THE ADDITION OF RS.5,00,000/- U/S. 10(10C) OF THE I. T. ACT,1961. 3. HE FILED HIS RETURN OF INCOME ON 29-1-2008 DECLA RING TOTAL INCOME OF RS.3,99,140/- AFTER CLAIMING DEDUCTION U/S. 10(1 0C) OF THE INCOME TAX ACT,1961. THEREAFTER, THE CASE WAS TAKEN UP F OR SCRUTINY AND THE A.O. NOTED THAT THE ASSESSEE HAS RECEIVED EX-GRATIA PAYMENT OF RS.6,53,347/-. 4. BRIEF FACTS OF THE CASE ARE THAT THE ASSESSEE IS AN EMPLOYEE OF STATE BANK OF INDIA. HE HAD OPTED UNDER VOLUNTARY R ETIREMENT SCHEME FROM SBI UNDER EXIT OPTION SCHEME OF SBI AND THEREBY RECEIVED EX-GRATIA PAYMENT OF RS.6,53,347/-. HE CLA IMED EXEMPTION U/S.10(10C) OF RS.5,00,000/-.THE A.O. WAS OF THE VI EW THAT EXEMPTION U/S. 10(10C) OF THE ACT IS ONLY AVAILABLE TO AN ASS ESSEE IF THE VOUNTARY RETIREMENT SCHEME SATISFIES THE GUIDELINES LAID DOW N IN RULE 2BA OF I.T. RULES, 1962. ACCORDING TO THE A.O. EXEMPTION WAS NOT AVAILABLE TO THE ASSESSEE U/S.10(10C) OF THE ACT AS THE EXIT SCH EME DID NOT SATISFY THE REQUIREMENTS, AND THEREFORE, THE A. O. ADDED BA CK RS.5 LAKHS CLAIMED AS EXEMPTION U/S.10 (10C) TO THE TOTAL INCO ME VIDE ORDER DATED 6-11-2009. AGGRIEVED BY THE DECISION OF A.O. THE ASSESSEE PREFERRED APPEAL BEFORE THE CIT (A). ITA NO.1 74/AHD/2010 ASSESSME NT YEAR 2007- 08 . 3 5. THE CIT (A), FOLLOWING THE DECISION OF AHMEDABAD TRIBUNAL IN THE CASE OF SMT. JAYA NARAYAN & 13 OTHERS IN ITA NO.120 9/AHD/2007 ORDER DATED 17-7-2007 HELD THAT AS THE FACTS OF THE CASE WERE IDENTICAL TO THAT DECIDED BY AHMEDABAD A BENCH AND THEREFORE, THE ASSESSEE WAS ENTITLED TO BENEFIT U/S.10(10C) AND ACCORDINGLY DIRECTED THE A.O. TO ALLOW THE EXEMPTION U/S. 10(10C) OF RS.5 LAKHS. BEING AGGRIEVED BY THE DECISION OF CIT (A), THE DEPARTMENT IS IN APPEA L BEFORE US. 6. BEFORE US THE LD. D.R. FAIRLY CONCEDED THAT THE ISSUE IN THE PRESENT APPEAL IS COVERED AGAINST THE REVENUE IN VI EW OF THE DECISION OF SMT. JAYA NARAYAN AND 13 OTHERS (SUPRA) AND SHRI KANTILAL K.SOLANKI VS. ITO IN ITA NO.1514/AHD/2007 ORDER DAT ED 6-7-2007. SINCE THE CASE OF THE ASSESSEE IS SQUARELY COVERED BY THE AFORESAID DECISIONS, WE RESPECTFULLY FOLLOWING IT HOLD THAT T HE ASSESSEE IS ELIGIBLE FOR DEDUCTION U/S. 10(10C) AND ACCORDINGLY DISMISS THE APPEAL OF THE REVENUE. 7. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN OPEN COURT ON 25 - 5- 2012. SD/- SD/- (G.C.GUPTA) (ANIL CHATURVEDI) VICE PRESIDENT ACCOUNTANT MEMBER AHMEDABAD. S.A.PATKI. ITA NO.1 74/AHD/2010 ASSESSME NT YEAR 2007- 08 . 4 COPY OF THE ORDER FORWARDED TO: - 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT (APPEALS) XXI, AHMEDABAD. 4. THE CIT CONCERNED. 5. THE DR., ITAT, AHMEDABAD. 6. GUARD FILE. BY ORDER DEPUTY/ASSTT.REGISTRAR ITAT,AHMEDABAD. 1.DATE OF DICTATION 16 - 5 -2012 2.DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE TH E DICTATING 16 / 5 / 2012 MEMBER.OTHER MEMBER. 3.DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P.S./P.S 17 - 5 -2012. 4.DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 25 - 5 -2012 5.DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR .P.S./P.S 25 - 5 -2012 6.DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 28 - 5 -2012. 7.DATE ON WHICH THE FILE GOES TO THE HEAD CLERK . 8.THE DATE ON WHICH THE FILE GOES TO THE ASSTT. REG ISTRAR FOR SIGNATURE ON THE ORDER 9.DATE OF DESPATCH OF THE ORDER..