Thudiyalur Co-operative Agricultural Services Ltd., Coimbatore V. The DCIT, Non Corporate Circle -4, Coimbatore

ITA 2278/CHNY/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 3981 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-02-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 18-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S RENGA RAJAN
• Assessee Lawyers: S SRIDHAR; N ARJUN RAJ
• Section: 80P

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI . . . , ! ' , $ '% BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ./ ITA NO.2278/CHNY/2017 ( )( / ASSESSMENT YEAR : 2007-08 M/S THUDIYALUR CO-OPERATIVE AGRICULTURAL SERVICES LTD., NO.1, METTUPALAYAM ROAD, THUDIYALUR, COIMBATORE 641 034. PAN : AAAAT 3838 L V. THE DEPUTY COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE 4, COIMBATORE. (+,/ APPELLANT) (-.+,/ RESPONDENT) +, / 0 / APPELLANT BY : SHRI N. ARJUN RAJ, CA FOR SHRI S. SRIDHAR, ADVOCATE -.+, / 0 / RESPONDENT BY : SHRI S. RENGARAJAN, JCIT 1 / 2$ / DATE OF HEARING : 09.01.2019 34) / 2$ / DATE OF PRONOUNCEMENT : 06.02.2019 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER : THIS APPEAL OF THE ASSESSEE IS DIRECTED AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) -3, COIMBA TORE, DATED 15.06.2017 AND PERTAINS TO ASSESSMENT YEAR 2007-08. 2 I.T.A. NO.2278/CHNY/17 2. THE ONLY ISSUE ARISES FOR CONSIDERATION IS WITH REGARD TO DISALLOWANCE OF DEDUCTION CLAIMED BY THE ASSESSEE U NDER SECTION 80P OF THE INCOME-TAX ACT, 1961 (IN SHORT 'THE ACT' ). 3. SHRI ARJUN RAJ, THE LD. REPRESENTATIVE FOR THE A SSESSEE, SUBMITTED THAT THE ASSESSEE-SOCIETY IS REGISTERED U NDER SOCIETIES ACT AS A CO-OPERATIVE SOCIETY. DURING THE ASSESSME NT YEAR 2008- 09, THE SAME ISSUE CAME BEFORE THIS TRIBUNAL. ACCO RDING TO THE LD. REPRESENTATIVE, THIS TRIBUNAL BY PLACING RELIANCE O N THE JUDGMENT OF MADRAS HIGH COURT IN CIT V. M/S VEERAKERALAM PRIMAR Y AGRICULTURAL COOPERATIVE CREDIT SOCIETY IN T.C.A. NOS.735, 755 O F 2014 AND 460 OF 2015 DATED 05.07.2016, FOUND THAT THERE CANNOT B E ANY DISALLOWANCE UNDER SECTION 80P(4) OF THE ACT. 4. WE HEARD SHRI S. RENGARAJAN, THE LD. DEPARTMENTA L REPRESENTATIVE ALSO. AS SUBMITTED BY THE LD. REPRE SENTATIVE FOR THE ASSESSEE, THE CO-ORDINATE BENCH OF THIS TRIBUNAL IN THE ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2008-09, FOLLOWING THE JUDGMENT OF THE MADRAS HIGH COURT IN M/S VEERAKERALAM PRIMARY A GRICULTURAL COOPERATIVE CREDIT SOCIETY (SUPRA), ALLOWED THE CLA IM OF THE ASSESSEE. FOLLOWING THE ORDER OF THE CO-ORDINATE B ENCH OF THIS TRIBUNAL IN THE ASSESSEE'S OWN CASE FOR ASSESSMENT YEAR 2008-09, 3 I.T.A. NO.2278/CHNY/17 THIS TRIBUNAL IS UNABLE TO UPHOLD THE ORDER OF THE LOWER AUTHORITY. ACCORDINGLY, ORDERS OF BOTH THE AUTHORITIES BELOW A RE SET ASIDE AND THE ASSESSING OFFICER IS DIRECTED TO ALLOW THE DEDU CTION UNDER SECTION 80P OF THE ACT AS CLAIMED BY THE ASSESSEE. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 6 TH FEBRUARY, 2019 AT CHENNAI. SD/- SD/- ( ! ' ) ( . . . ) (INTURI RAMA RAO) (N.R.S. GANESAN) $ / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 6 /DATED, THE 6 TH FEBRUARY, 2019. KRI. / -278 98)2 /COPY TO: 1. +, /APPELLANT 2. -.+, /RESPONDENT 3. 1 :2 () /CIT(A)-3, COIMBATORE 4. PRINCIPAL CIT-2, COIMBATORE 5. 8; -2 /DR 6. <( = /GF.