Dattatray Rajaram Sapre, Ratnagiri V. Deputy Commissioner of Income-tax,

ITA 2058/PUN/2013

• Counselvise Citation: 205824514 RSA 2013
• Duration Of Justice: 1 year(s) 2 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 01-01-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 27-11-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P S NAIK
• Assessee Lawyers: DATTATRAY RAJARAM SAPRE
• Keywords: Salary income; Revised return

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND MS. SUSHMA CHOWLA, JUDICIAL MEMBER. ITA.NO.2058/PN/2013 (ASSTT. YEAR : 2006-07) DATTATRAY RAJARAM SAPRE, SADICCH BUNGLOW, AT POST : DEVRUKH, TAL : SANGAMESHWAR, RATNAGIRI-418504 PAN NO.ACTPS1975R .. APPELLANT VS. DY.CIT, RATNAGIRI CIRCLE, RATNAGIRI .. RESPONDENT ASSESSEE BY : SHRI DATTATRAY RAJARAM SAPRE RESPONDENT BY : SHRI P.S. NAIK DATE OF HEARING : 01-01-2015 DATE OF PRONOUNCEMENT : 18-02-2015 ORDER PER G.S. PANNU, AM : THIS APPEAL BY THE ASSESSEE IS AGAINST THE ORDER O F THE CIT(A), KOLHAPUR DATED 11-09-2013 WHICH IN TURN HAS ARISEN FROM THE ORDER PASSED BY THE ASSESSING OFFICER U/S.143(3) OF THE ACT DATE D 29-12-2010 PERTAINING TO A.Y. 2006-07. 2. IN BRIEF, THE FACTS ARE THAT THE ASSESSEE WAS AN EMPLOYEE OF STATE BANK OF INDIA AND DERIVES INCOME FROM SALARY. HE F ILED HIS ORIGINAL RETURN OF INCOME ON 31-07-2006 DECLARING TOTAL INCOME OF R S.6,25,020/-. HE FILED REVISED RETURN OF INCOME ON 31-03-2008 DECLARING TO TAL INCOME OF RS.3,16,170/- AND HAS CLAIMED EXEMPTION OF RS.3,15, 600/- UNDER SECTION 10(10C) OF THE I.T. ACT. THE ASSESSEE RELIED ON TH E CDBT CIRCULAR F.NO.200/34/2009-ITA-1, DATED 06-10-2009 AND ALSO T HE DECISION OF HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KO ODATHIL KALLYATAN AMBUJAKSHAN 39 ITR 113. REJECTING THE EXPLANATION OF THE ASSESSEE AND 2 RELYING ON THE DECISION OF HONBLE MADRAS HIGH COUR T IN THE CASE OF CIT VS. M. CHALLADURAI AND OTHERS (21009) 317 ITR 370, THE ASSESSING OFFICER HELD THAT ASSESSEE DID NOT COMPLY WITH THE CONDITIO NS PRESCRIBED IN RULE 2BA REFERRED TO THE PROVISIONS OF SECTION 10(10C) AND RULE 2BA OF THE EXIT OPTION SCHEME OF STATE BANK OF INDIA AND DISAL LOWED THE CLAIM OF THE ASSESSEE. HOWEVER, THE LD.CIT(A) UPHELD THE ORDER O F THE ASSESSING OFFICER. 3. AFTER GOING THROUGH THE RIVAL SUBMISSIONS AND MA TERIAL ON RECORD, WE FIND THE ISSUE IS SQUARELY COVERED BY THE DECISI ON OF THE COORDINATE BENCH OF THE TRIBUNAL IN THE CASE OF MRS. KALIKA RA VINDRA MOGARE VS. ITO IN ITA NO.2106/PN/2013 ORDER 30-10-2014. THE RELEV ANT DISCUSSION OF THE TRIBUNAL IS AS UNDER : 3. WE HAVE HEARD THE PARTIES AND PERUSED THE RECOR D. THE LD. COUNSEL SUBMITS THAT ISSUE STANDS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION OF THIS TRIBUNAL IN THE CA SE OF OTHER EMPLOYEES OF SBI AS WELL AS THE DECISION OF THE JURISDICTIONA L HIGH COURT IN THE CASE OF KOODATHIL KALLYATAN AMBUJAKSHAN (SUPRA). 4. PER CONTRA THE LD. DEPARTMENTAL REPRESENTATIVE S UBMITS THAT IT IS SPECIFICALLY POINTED OUT BY THE ASSESSING OFFICER A S WELL AS THE LD.CIT(A) THAT THE CONDITIONS LAID DOWN IN RULE 2BA ARE NOT F ULFILLED. HE PLEADED FOR CONFIRMING THE ORDER OF THE LD. COMMISSIONER. 5. WE FIND THAT THIS ISSUE STANDS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE IN RESPECT OF THE ANOTHER EMPLOYEES OF THE STATE BANK OF INDIA WHO HAD OPTED FOR THE VOLUNTARY RETIREMENT UNDER TH E EXIT OPTION SCHEME FLOATED BY THE SBI IN THE CASE OF ITO, WARD -2(2), KOLHAPUR VS. SHRI VIJAY GANPATRAO PATIL VIDE ITA NO.1045/PN/2011 ORDER DATED 29-08- 2012. IN THE CASE CITED (SUPRA), HE WAS ALSO AN EM PLOYEE OF THE SBI OPTED FOR THE VOLUNTARY RETIREMENT AS PER THE EXIT OPTION SCHEME (EOS) DECLARED BY THE BANK-EMPLOYER. IN THE SAID CASE, T HE LD.CIT(A) HAS ALLOWED THE CLAIM OF THE ASSESSEE BY FOLLOWING THE DECISION IN THE CASE OF KOODATHIL KALLYATAN AMBUJAKSHAN (SUPRA). SO FAR AS PRESENT ASSESSEE IS CONCERNED, WE FIND THAT THE CIT(A) KOLHAPUR HAS ADO PTED DIFFERENT APPROACH EVENTHOUGH THE ASSESSEE IS THE EMPLOYEE OF THE SBI AND OPTED FOR THE VOLUNTARY RETIREMENT UNDER THE EOS. IN OUR OPINION, THE ASSESSEES CASE IS SQUARELY COVERED BY THE DECISION OF THE JURISDICTIONAL HIGH COURT IN THE CASE OF KOODATHIL KALLYATAN AMBU JAKSHAN (SUPRA) WHICH HAS BEEN APPROVED BY THE HONBLE SUPREME COUR T IN THE CASE OF CHANDRA RANGANATHA (SUPRA). IN THE CASE OF KOODA THIL KALLYATAN AMBUJAKSHAN (SUPRA), THE RESPECTIVE ASSESSEE WAS TH E EMPLOYEE OF THE RBI. SO FAR AS THE SBI IS CONCERNED, TO OUR UNDERS TANDING, THE EXIT OPTION SCHEME IS ANALOGOUS TO THAT OF THE RBI. MOR EOVER, IN OUR OPINION, THE EXIT OPTION SCHEME OF THE SBI COMPLY WITH ALL THE CONDITIONS LAID DOWN IN RULE 2BA OF THE I.T. RULES. WE, THEREFORE A LLOW THE GROUND TAKEN BY THE ASSESSEE AND DIRECT THE ASSESSING OFFICER TO ALLOW THE BASIC EXEMPTION U/S.10(10C) OF THE ACT. 3 6. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. 4. FOLLOWING THE AFORESAID PRECEDENT, WE SET ASIDE THE ORDER OF THE CIT(A)AND DIRECT THE ASSESSING OFFICER TO DELETE TH E ADDITION OF RS.3,15,600/- 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED . ORDER PRONOUNCED ON 18 TH FEBRUARY, 2015. SD/- SD/- (SUSHMA CHOWLA) ( G.S.PA NNU ) JUDICIAL MEMBER ACCOUNTANT MEMBER SATISH/SUJEET PUNE, DATED 18 TH FEBRUARY, 2015 COPY OF THE ORDER IS FORWARDED TO: 1. THE ASSESSEE 2. THE DEPARTMENT 3. THE CIT(A), KOLHAPUR. 4. THE CIT, KOLHAPUR. 5. THE DR A BENCH, PUNE. 6. GUARD FILE BY ORDER //TRUE COPY// ASSISTANT REGISTRAR, ITAT, PUNE BENCHES, PUNE