The Income Tax Officer, Ward-2(5), Panaji., Panaji V. M/s Goa Shipyard Employees Co-op. Credit Society Ltd., Vasco

ITA 268/PAN/2015

• Counselvise Citation: [2015] 121 COUNSELVISE.COM (IT) 2222 (ITAT-PANAJI)
• Duration Of Justice: 2 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 17-06-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAMESH S MUTAGAR
• Assessee Lawyers: ELSON SEQUEIRA
• Keywords: Benefit of exemption
• Section: 143(3); 68; 6; 263; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI N.S. SAINI , HONBLE ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, HONBLE JUDICIAL MEMBER ITA NO S . 2 6 8 & 269 /PNJ/201 5 (ASST. YEAR S : 200 7 - 0 8 & 2009 - 10 ) ITO, WARD - 2(5), PANAJI. VS. THE GOA SHIPYARD EMPLOYEES CO - OP CREDIT SOCIETY LTD., CANTEEN BUILDING, GOA SHIPYARD LTD., VASCO - DA - GAMA, GOA. PAN NO. AA AAT 9557 G (APPELLANT) (RESPONDENT) ASSESSEE BY : ELSON SEQUEIRA C A. DEPARTMENT BY : SHRI RAMESH S. MUTAGA R - D R DATE OF HEARING : 07 / 0 9 /2015 . DATE OF PRONOUNCEMENT : 07 / 0 9 /201 5 . O R D E R PER N.S. SAINI , ACCOUNTANT MEMBER TH E S E ARE THE APPEAL S FILED BY THE REVENUE AGAINST THE SEPARATE ORDER S OF COMMISSIONER OF INCOME TAX (APPEALS) - 1 , PANAJI EACH DATED 1 2/0 3 /201 5 FOR THE ASSESSMENT YEARS 2007 - 08 & 2009 - 10 . 2. AT THE OUTSET , AUTHORIZED REPRESENTATIVE OF THE ASSESSEE SUBMITTED THAT IN BOTH THE ASSESSMENT YEARS 2007 - 08 & 2009 - 10 , THE APPEAL OF THE DEPARTMENT ARISES OUT OF THE ORDER PASSED BY THE ASSESSING OFFICER UNDER SEC. 143(3) READ WITH SEC. 263 OF THE INCOME TAX ACT 1961. HE SUBMITTED THAT ASSESSEE FILED AN APPEAL BEFORE THE TRIBUNAL AGAINST THE ORDER UNDER SEC. 263 PASSED BY THE CIT, GOA ON 26/12/2012 IN THE ASSESSMENT YEARS 2007 - 08 & 2009 - 10. THE TRIBUNAL 2 ITA NO S . 268 & 269 /PNJ/201 5 BY FOLLOWING THE DECISION OF THE HONBLE KARNATAKA HIGH COURT IN THE CASE OF CIT VS. SHRI BILULRU GURUBASAVA PATTINA SAHAKARI SANGHA NIYAMIT, BAGALKOT IN ITA NO. 5006/2013 DATED 05/02/2014 , DISMISSE D THE APPEAL OF THE REVENUE IN I.T.A.NOS. 44 & 45/PNJ/2013 ORDER DATED 08/06/2015. 3 . WE HAVE CONSIDERED THE SUBMISSIONS OF BOTH THE PARTIES AND PERUSED THE MATERIAL AVAILABLE ON RECORD. THE ASSESSEE FILED AN APPEAL BEFORE THE TRIBUNAL AGAINST THE ORDER UNDER SEC. 263 PASSED BY THE CIT, GOA ON 26/12/2012 IN THE ASSESSMENT YEARS 2007 - 08 & 2009 - 10. THE TRIBUNAL BY FOLLOWING THE DECISION OF THE HONBLE KARNATAKA HIGH COURT IN THE CASE OF BILULRU GURUBASAVA PAT TINA SAHAKARI SANGHA NIYAMIT, BAGALKOT (SUPRA) HELD THAT WHEN THE STATUS OF THE ASSESSEE IS A COOPERATIVE SOCIETY AND IS NOT A COOPERATIVE BANK, THE ORDER PASSED BY THE ASSESSING OFFICER EXTENDING THE BENEFIT OF EXEMPTION FROM PAYMENT OF TAX UNDER SEC. 80P (2)(A)(I) OF THE ACT IS CORRECT. THERE IS NO ERROR. WHEN THERE IS NO ERROR, THE QUESTION OF ORDER BEING PREJUDICIAL WOULD NOT ARISE . THEREFORE, THE COMMISSIONER HAS NO POWER UNDER SEC. 263 OF THE ACT TO REOPEN THE COMPLETED ASSESSMENT. THUS, THE TRIBUNAL QUASHED THE ORDER OF THE COMMISSIONER OF INCOME TAX PASSED UNDER SEC. 263 OF THE ACT FOR THE ASSESSMENT YEARS 2007 - 08 & 2009 - 10 . THE PRESENT APPEALS BEING AGAINST THE ORDER PASSED BY THE ASSESSING OFFICER IN PURSUANCE TO THE ORDER PASS ED BY THE COMMISSIONER OF INCOME TAX UNDER SEC. 263 OF THE ACT H AS BECOME INFRUCTUOUS AND ARE THEREFORE, DISMISSED. 4 . IN THE RESULT, BOTH THE APPEALS OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE COURT AT THE CLOSE OF THE HEARING ON MONDAY , THE 07 TH DAY OF SEPTEMBER , 201 5 AT GOA . SD/ - SD/ - (GEORGE MATHAN) (N.S.SAINI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 07 TH SEPTEMBER , 201 5 . 3 ITA NO S . 268 & 269 /PNJ/201 5 VR/ - COPY TO: 1 . THE ASSESSEE. 2 . THE REVENUE. 3 . THE CIT 4 . THE CIT(A) 5 . THE D.R . 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI 4 ITA NO S . 268 & 269 /PNJ/201 5 DATE INITIAL ORIGINAL DICTATION PAD & DRAFT ARE ENCLOSED IN THE FILE 1. DRAFT DICTATED ON 07 .0 9 .2015 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 07.09 .2015 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 07 /0 9 /2015 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 07 /0 9 /2015 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 07 /0 9 /2015 SR.PS 6. DATE OF PRONOUNCEMENT 07 /0 9 /2015 SR.PS 7. FILE SENT TO THE BENCH CLERK 07 /0 9 /2015 SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER