THE GADHCHIROLI NAGRI SAHAKARI PATSANTHA MARYADIT, Gadchiroli V. ITO-WARD-3, Chandrapur

ITA 223/NAG/2014

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 1706 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 4 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2015
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 15-04-2014
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KANE
• Keywords: Bad and doubtful debts

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER ITA NO. 223/NAG./2014 ( ASSESSMENT YEAR : 201011 ) THE GADHCHIROLI NAGRI SAHAKARI PATSANTHA MARYADIT, SAMARTH BUILDING INDIRA GANDHI CHOWK, CHARMORSHI ROAD GADCHIROLI 442 605 PAN AAAJT0947K APPELLANT V/S INCOME TAX OFFICER WARD3, JAL NAGAR CHANDRAPUR 442 401 RESPONDENT ASSESSEE BY : NONE REVENUE BY : SHRI NARENDRA KANE DATE OF HEARING 20.08.2015 DATE OF ORDER O R D E R PER SHAMIM YAHYA, A.M. THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINS T THE IMPUGNED ORDER DATED 6 TH JANUARY 2014, PASSED BY THE LEARNED COMMISSIONER (APPEALS)II, NAGPUR, FOR THE ASSESSMEN T YEAR 2010 11, ON THE FOLLOWING GROUNDS OF APPEAL: THAT THE ASSESSING OFFICER OUGHT TO HAVE COMPUTED THE TOTAL INCOME AT RS. NIL SINCE THE ENTIRE GROSS AMOUNT OF INTEREST RS.37,97,521, RECEIVED FROM THE MEMBERS QUALIFIES F OR DEDUCTION UNDER SECTION 80P(2)(A)(I), AND THAT THE ENTIRE AMO UNT OF INTEREST SMT. SANDHYA RAJESH ASHTANKAR 2 AND DIVIDENDS RS.21,95,963, DERIVED FROM ITS INVEST MENT WITH OTHER COOPERATIVE SOCIETIES, QUALIFIES FOR DEDUCTION UNDE R SECTION 80P2)(D), AND THAT THEREFORE, THE ENTIRE GROSS DEDU CTION UNDER SECTION 80P(2)(D), AND THAT THEREFORE THE ENTIRE GR OSS INCOME OF THE ASSESSEE QUALIFIES FOR DEDUCTION UNDER SECTION 80P(2) AND AS SUCH IMPACT OF THE ADDING BACK PROVISIONS FOR: 1. BUILDING FUND RS.8,20,000 2. BAD DOUBTFUL DEBTS RS.3,00,000 AND 3. NPA RS.6,00,000 DEBITED TO PROFIT & LOSS ACCOUNT WILL NOT HAVE ANY EFFECT ON THE TOTAL INCOME OF THE ASSESSEE. 2. AT THE OUTSET, WE NOTE THAT WHEN THIS APPEAL WAS CALLE D FOR HEARING, NONE APPEARED, HENCE, THE PRESUMPTION IS THA T THE ASSESSEE IS NOT INTERESTED IN PROSECUTING THE APPEAL. WE FURTHER NOTE THAT BEFORE THE LEARNED CIT(A) ALSO, NONE HAS APPEARED. FURTHERM ORE, WE NOTE THAT THE LEARNED CIT(A) HAS ALLOWED THE ASSESSEES APPE AL. IN THESE CIRCUMSTANCES, IT CANNOT BE SAID THAT THE ASSESSEE IS AG GRIEVED BY THE ORDER OF THE LEARNED CIT(A). READING OF THE GROUNDS O F APPEAL IN THIS CASE, MAKES IT CLEAR THAT THE ASSESSEE IS RAISING GR OUNDS WHICH WERE NOT BEFORE THE LEARNED CIT(A). HOWEVER, THE ASSESSEE H AS NOT FILED ANY APPLICATION FOR ADMISSION OF SUCH A GROUND. NO REASO N HAS BEEN ADDUCED AS TO WHY THE SAME WAS NOT RAISED BEFORE THE LEARNED CIT(A). UNDER THESE CIRCUMSTANCES, IN OUR CONSIDERED OPINION, THESE GROUNDS RAISED BY THE ASSESSEE ARE NOT MAINTAINABLE FOR THE F IRST TIME BEFORE US. ACCORDINGLY, AFTER HEARING THE LEARNED DEPARTMENT AL REPRESENTATIVE AND ON A PERUSAL OF THE RECORDS, WE ARE OF THE OPINI ON THAT THE APPEAL SMT. SANDHYA RAJESH ASHTANKAR 3 BY THE ASSESSEE DESERVES TO BE DISMISSED. ACCORDINGL Y, THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE ARE DISMISSED. 3. IN THE RESULT, ASSESSEES APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 28.08.2015 SD/ - MUKUL K. SHRAWAT JUDICIAL MEMBER SD/ - SHAMIM YAHYA ACCOUNTANT MEMBER NAGPUR, DATED: 28.08.2015 COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, NAGPUR CITY CONCERNED; (5) THE DR, ITAT, NAGPUR; (6) GUARD FILE. TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY A SSISTANT REGISTRAR ITAT, NAGPUR