Appeal Details
Counselvise Citation
[2020] 110 COUNSELVISE.COM (IT) 7551 (ITAT-BANGALORE)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
6 month(s) 1 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
31-08-2020
Appeal Filed By
Assessee
Order Result
Partly Allowed
Bench Allotted
B
Assessment Year
2014-2015
Appeal Filed On
28-02-2020
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES B BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO S . 263, 264 & 265 /BANG/20 20 (ASSESSMENT YEAR S : 20 14 - 15 TO 2016 - 17 ) M/S. SRI VARUN SOUHARDA CREDIT CO - OPERATIVE LIMITED , NO.617, 4THCROSS, 5 TH MAIN ROAD, HANUMANTHANAGAR, BANGALORE. .APPELLANT PAN AAAAS 4932Q VS. INCOME TAX OFFICER , WARD 5(2)(4), BANGALORE. RESPONDENT. ASSESSEE BY: SHRI S.V. RAVI SHANKAR, ADVOCATE. REVENUE BY: SHRI GANESH GHALE, STANDING COUNSEL FOR DEPARTMENT. DATE OF HEARING : 31.08 .20 20. DATE OF PRONOUNCEMENT : 31.08 . 20 20. O R D E R THE SE THREE APPEALS FILED BY THE ASSESSEE ARE DIRECTED AGAINST THE DIFFERENT ORDER S OF C OMMISSIONER OF INCOME TAX (APPEALS) - 5 , BANGALORE DT.30.12.2019 FOR THE ASSESSMENT YEARS 2014 - 15 TO 2016 - 17 . THE EFFECTIVE GROUND IN THESE APPEALS I S COMMON AND IDENTICAL, FOR THE SAKE OF CONVENIENCE, THEY ARE HEARD TOGETHER AND CONSOLIDATED ORDER IS PASSED. 2 ITA NO S . 263, 264 & 265/BANG/2020 2. WE TAKE UP THE APPEAL IN ITA NO.263/BANG/2020. THE ASSESSEE HAS ARGUED GROUND NO.3 REGARDING DISALLOWANCE OF CLAIM OF DEDUCTION UNDER SECTION 80P(2)(A)(I) OF THE INCOME TAX ACT, 1961 (THE ACT). THE OTHER GROUNDS AND ADDITIONAL GROUNDS ARE NOT RELEVANT AT THIS STAGE AND ARE ONLY ACADEMIC IN NATURE WHICH ARE NOT ARGUED BEFORE US, ACCORDINGLY THESE GROUNDS ARE DISMISSED. THE EFFECTIVE GRO UND NO.3 IS AS UNDER : 3. THE LD. CIT (APPEALS) WAS NOT JUSTIFIED IN LAW IN CONFIRMING THE DISALLOWANCE OF RS.20,43,170 UNDER THE PROVISION OF SECTION 80P(2)(A)(I) OF THE ACT ON THE FACTS AND CIRCUMSTANCES OF THE CASE. 3. THE ASSESSING OFFI CER HAS DISALLOWED THE CLAIM OF DEDUCTION MADE UNDER SECTION 80P(2)(A)(I) OF THE ACT ON THE REASON THAT THE ASSESSEE IS IN THE BUSINESS OF BANKING. THE CIT (APPEALS) HAS CONFIRMED THE ORDER OF THE ASSESSING OFFICER. HENCE THE ASSESSEE IS IN APPEAL BEFORE US. 4. I HAVE HEARD BOTH THE PARTIES AND PERUSED THE MATERIAL ON RECORD. SIMILAR ISSUE HAS BEEN DEALT BY THE HONBLE HIGH COURT IN WRIT PETITION NO.48414 OF 2018 IN THE CASE OF M/S. SWABHIMANI SOUHARDA CREDIT CO - OPERATIVE LTD. VS. GOVT. OF INDIA, MIN. OF FINANCE AND OTHERS DT.16.01 .2020 OBSERVED AS UNDER : 3 ITA NO S . 263, 264 & 265/BANG/2020 4 ITA NO S . 263, 264 & 265/BANG/2020 5 ITA NO S . 263, 264 & 265/BANG/2020 6 ITA NO S . 263, 264 & 265/BANG/2020 7 ITA NO S . 263, 264 & 265/BANG/2020 8 ITA NO S . 263, 264 & 265/BANG/2020 9 ITA NO S . 263, 264 & 265/BANG/2020 10 ITA NO S . 263, 264 & 265/BANG/2020 THEREFORE RESPECTFULLY FOLLOWING THE ABOVE JUDGMENT, I REMIT THE ISSUE IN DISPUTE TO THE FILE OF ASSESSING OFFICER TO DECIDE AFRESH IN THE LIGHT OF ABOVE JUDGEMENT AFTER GI VING AN OPPORTUNITY OF HEARING TO THE ASSESSEE. FURTHER WE MAKE IT CLEAR THAT THE ASSESSEE IS AT LIBERTY TO RAISE ANY OTHER ISSUE AS DEEM IT FIT IF SO ADVISED. SIMILARLY, IN THE OTHER TWO APPEALS IN ITA NOS.264 & 265/BANG/2020 SHALL EQUALLY APPLY THE ABO VE DECISION AND REMIT TO THE FILE OF ASSESSING OFFICER WITH SIMILAR DIRECTIONS GIVEN ABOVE. 5. IN THE RESULT, APPEAL S OF THE ASSESSEE ARE PARTLY ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE . SD/ - ( CHANDRA POOJARI ) ACCOU NTANT MEMBER DATED: 31.08 . 20 20 . *REDDY GP 11 ITA NO S . 263, 264 & 265/BANG/2020 COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT (A) 4. PR. CIT 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME - TAX APPELLATE TRIBUNAL BANGALORE
