The Sant Taluka Teachers Co.-Op. Credit Society Ltd., Mahisagar V. The Income Tax Officer, Lunawada

ITA 2090/AHD/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 8432 (ITAT-AHMEDABAD)
• Duration Of Justice: 6 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-04-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 19-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KEYUR PATEL HEARING CONCLUDED
• Section: 143(3)

Judgement Text

ITA NO.2090/AHD/2017 ASSESSMENT YEAR: 2014-15 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH, AHMEDABAD [CORAM: PRAMOD KUMAR AM AND MAHAVIR PRASAD JM] ITA NO.2090/AHD/2017 ASSESSMENT YEAR: 2014-15 THE SANT TALUKA TEACHERS CO-OP. CREDIT SOCIETY LTD. ..................APPELLANT OPP. PANCHAYAT BHAVAN, AT & P.O. SANTRAMPUR 389 260, DIST. MAHISAGAR (GUJARAT) [PAN : AABTS 2076 F] VS. INCOME TAX OFFICER, LUNAWADA . ............................RESPONDENT APPEARANCES BY SAKAR SHARMA FOR THE APPELLANT KEYUR PATEL FOR THE RESPONDENT HEARING CONCLUDED ON: 12.04.2018 ORDER PRONOUNCED ON : 18.04.2018 O R D E R PER PRAMOD KUMAR, AM: 1. BY WAY OF THIS APPEAL, THE ASSESSEE APPELLANT HA S CHALLENGED CORRECTNESS OF THE ORDER DATED 15 TH JUNE, 20-17, PASSED BY THE LEARNED CIT(A)-4, VADOD ATA, IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TA X ACT, 1961 (THE ACT HEREINAFTER), FOR THE ASSESSMENT YEAR 2014-15. 2. GRIEVANCES RAISED BY THE APPELLANT ARE AS FOLLOW S :- 1. THE LD. CIT(A) HAS ERRED ON FACTS AND IN LAW IN CONFIRMING ADDITION OF RS.55,70,586/- AS NON-BANKING INCOME BEING NOT ALLO WABLE U/S.80P(2)(A)(I) AS WELL AS NOT ALLOWED DEDUCTIONS U/S.80P(2)(D) & 80P( 2)(C)(II) OF THE IT ACT 1961. 2. WITHOUT PREJUDICE TO THE ABOVE , THE LD. CIT(A) HAS ERRED ON FACTS AND IN LAW IN CONFIRMING ADDITION OF INTEREST INCOME EA RNED ON INVESTMENT WITH SCHEDULE/COMMERCIAL BANK ON GROSS BASIS I.E. NOT AL LOWED DEDUCTION OF PROPORTIONATE ADMINISTRATIVE AND FINANCIAL EXPS. IN CURRED FOR EARNING ABOVE REFERRED INVESTMENT INCOME. ITA NO.2090/AHD/2017 ASSESSMENT YEAR: 2014-15 PAGE 2 OF 2 3. WHEN THIS APPEAL WAS TAKEN UP FOR HEARING, IT WA S NOTICED THAT THE IMPUGNED ORDER DATED 15.06.2017 PASSED BY THE LEARNED CIT(A) IS AN EX-PARTE ORDER AND THAT THE APPELLANT COULD NOT ATTEND THE PROCEEDINGS BEFORE T HE CIT(A). THE IMPUGNED ORDER IS THUS PASSED WITHOUT THE BENEFIT OF ASSISTANCE BY TH E ASSESSEE APPELLANT AND THE ASSESSEE APPELLANT IS NOW IN APPEAL BEFORE US. 4. IN RESPONSE TO A QUESTION FROM THE BENCH, LEARNE D DEPARTMENTAL REPRESENTATIVE FAIRLY AGREED THAT HE HAS NO OBJECTION TO THE MATTE R BEING REMITTED TO THE FILE OF LEARNED CIT(A) FOR ADJUDICATION DE NOVO , AFTER GIVING YET ANOTHER REASONABLE OPPORTUNITY OF HEARING TO THE ASSESSEE. WE THINK THIS IS A FAIR A PPROACH AND SINCE THE LEARNED CIT(A) DID NOT HAVE THE BENEFIT OF ASSISTANCE FROM THE ASS ESSEE APPELLANT, THE MATTER SHOULD BE REMITTED TO THE FILE OF LEARNED CIT(A) FOR ADJUDICA TION DE NOVO , AFTER GIVING YET ANOTHER OPPORTUNITY OF HEARING. IN ANY CASE, THERE IS NO R EASON FOR AN APPELLATE FORUM BEING BYPASSED AND THE MATTER BEING TAKEN UP DIRECTLY BEF ORE US FOR ADJUDICATION ON MERITS. 5. IN VIEW OF THIS DISCUSSION AND BEARING IN MIND E NTIRETY OF THE CASE, WE DEEM IT FIT AND PROPER TO REMIT THE MATTER TO THE FILE OF LEARN ED CIT(A) FOR FRESH ADJUDICATION AND THE ASSESSEE APPELLANT BE GIVEN A REASONABLE OPPORTUNIT Y OF HEARING. WE ORDER SO. 6. IN THE RESULT, APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN THE TERMS INDICATED ABOVE. PRONOUNCED IN THE OPEN COURT TODAY ON THE 1 8 TH APRIL, 2018. SD/- SD/- MAHAVIR PRASAD PRAMOD KUMAR (JUDICIAL MEMBER) (ACCOUNTANT MEM BER) DATED: 18 TH APRIL, 2018 PBN/* COPIES TO: (1) THE APPELLANT (2) THE RESPOND ENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD