Jeypore Cooperative Urban Bank Ltd, Jeypore V. ITO, Jeypore

ITA 232/CTK/2011

• Counselvise Citation: 23222114 RSA 2011
• Duration Of Justice: 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2012
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 20-12-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 26-04-2011
• Court: TRIBUNAL
• Department Lawyers: S C MOHANTY
• Assessee Lawyers: D K SETHK SETH ARS
• Keywords: Principle of natural justice

Judgement Text

IN THE INC O ME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE : SHRI K.K.GUPTA, AM , AND SHRI K.S.S.PRASAD RAO, JM ITA NO. 232/CTK/2011 (ASSESSMENT YEAR 2007 - 08) JE Y PORE CO - OP.URBAN BANK LTD., M.G.ROAD, JEYPORE 764 001 PAN: AAAJJ 0215 A VERSUS INC OME - TAX OFFICER, WARD 1, JEYPORE. (APPELLANT) (RESPONDENT) FOR THE APPELLANT: SHRI D.K.SETH/ K.SETH, ARS FOR THE RESPONDENT SHRI S.C.MOHANTY, DR DATE OF HEARING : 20.12.2011 DATE OF PRONOUNCEMENT : 13.01.2012 ORDER SHRI K.S.S.PRASAD RAO, JM : THIS APPEAL IS FILED BY THE ASSESSEE HAVING BEEN AGGRIEVED BY THE ORDER OF THE LEARNED CITA) DT.3.1.2011 FOR THE ASSESSMENT YEAR 2007 - 08 IN THE CASE OF THE ASSESSEE. 2. THE ASSESSEE HAS RAISED THE FOLLOWING ISSUES: 1. FOR THAT UNDER THE FACTS AND CI RCUMSTANCES OF THE CASE THE ADDITION OF 2,73,726 BY WAY OF DISALLOWANCE U/S.36(1)(VIIA) OF THE I.T.ACT IS UNCALLED FOR AND UNJUSTIFIED AND THE LEARNED COMMISSIONER IS NOT JUSTIFIED TO CONFIRM THE SAME. 2. FOR THAT THE DISALLOWANCE OF 5,13,836 BY WAY OF REFUSING THE CLAIM OF DEDUCTION/S.80P OF THE I.T.ACT IS ALSO UNWARRANTED AND THE LEARNED COMMISSIONER IS NOT JUSTIFIED TO CONFIRM THE SAME. 3. FOR THAT THE LEARNED A.O. AND THE LEARNED COMMISSIONER FAILED TO APPRECIATE THE SUBMISSIONS FURNISHED BEFORE THEM . 3. BOTH THE PARTIES WERE HEARD RE GARDING THE ISSUES RAISED IN THE APPEAL AND THEIR LEGAL IMPLICATIONS. 4. DURING THE COURSE OF HEARING, IT IS FOUND THAT NEITHER THE ASSESSING OFFICER NOR THE LEARNED CIT(A) HAVE MADE OUT AS TO WHETHER THE ASSESSEE IS A PRIMARY COOPER ATIVE SOCIETY AS DEFINE D U/S.80P (2)(A)(I) OF THE I.T.ACT, WHICH IS PRE - REQUISITE FOR ELIGIBILITY OF THE CLAIM OF DEDUCTION. ANOTHER ASPECT IS WHETHER THE ASSESSEE IS HAVING ANY BRANCHES IN RURAL AREAS TO CLAIM THE ITA NO.232/CTK/2011 2 APPLICABILITY OF THE PROVISIONS OF SECTION 36(1)(VIIA) OF THE I.T .ACT. THESE TWO ASPECTS ARE MUST FOR ADJUDICATION OF THE ISSUES RAISED BY THE ASSESSEE IN GROUNDS NO.1 AND 2 BEFORE US. HAVING FOUND NO FACT FINDINGS ON THESE TWO ASPECTS RECORDED EITHER BY THE ASSESSING OFFICER AND THE LEARNED CIT(A) IN THEIR RESPECTIVE O RDERS, WE FIND THAT THIS IS A FIT CASE TO RESTORE THE ISSUES TO THE FILE OF THE ASSESSING OFFICER TO ASCERTAIN THE ABOVE TWO VITAL ASPECTS OF THE CASE AND DECIDE THE SAME DE NOVO AND PASS NECESSARY CONSEQUENTIAL ORDER, OF COURSE STRICTLY FOLLOWING THE PRIN CIPLES OF NATURAL JUSTICE. THE ASSESSEE IS ALSO DIRECTED TO COOPERATE WITH THE ASSESSING OFFICER FOR EARLY COMPLETION OF THE ASSESSMENT. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. S D/ - S D/ - (K.K.GUPTA) ACCOUNTANT M EMBER ( K.S.S.PRASAD RAO) JUDICIAL MEMBER DATE: 13.01.2012 H.K.PADHEE, SENIOR PRIVATE SECRETARY. COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT: JEPORE CO - OP.URBAN BANK LTD., M.G.ROAD, JEYPORE 764 001 2. THE RESPONDENT: INCOME - TAX OFFICER, WARD 1, JEYPORE. 3. THE CIT, 4. THE CIT(A), 5. THE DR, CUTTACK 6. GUARD FILE (IN DUPLICATE) TRUE COPY, BY ORDER, SENIOR PRIVATE SECRETARY.