Jeypore Cooperative UrbanBank Ltd, Koraput V. ITO, Jeypore

ITA 271/CTK/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 90796 (ITAT-CUTTACK)
• Duration Of Justice: 2 year(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-05-2015
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 20-05-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 01-05-2013
• Court: TRIBUNAL
• Department Lawyers: SHOVAN KRISHNA SAHU
• Keywords: Principle of natural justice

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH , CUTTACK [ , . . , BEFORE SHRI SUNIL KUMAR YADAV , J M & SHRI B.P.JAIN , A M ./ ITA NO. 2 71 / CTK /20 1 3 ( [ [ / ASSESSMENT YEAR : 200 8 - 0 9 ) JEYPORE COOPERATIVE URBAN BANK LTD., M.G.ROAD, JEYPORE, KORAPUT, PIN - 764001 VS. ITO, WARD - 1, JEYPORE ./ ./ PAN/GIR NO. : A AAJJ 0215 A ( / APPELLANT ) .. ( / RESPONDENT ) [ /ASSESSEE BY : NONE /REVENUE BY : SHRI SHOVAN KRISHNA SAHU / DATE OF HEARING : 20 TH MAY , 201 5 / DATE OF PRONOUNCEMENT 22 ND MA Y ,2015 / O R D E R PER SUNIL K UMAR YADAV (J.M) : THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF CIT (A ) , BERHAMPUR DATED 18 - 1 - 2013 FOR THE ASSESSMENT YEAR 200 8 - 0 9 , INTER ALIA , ON FOLLOWING GROUNDS : - 1. FOR THAT UNDER THE FACT AND CIRCUMSTANCE OF THE CASE THE ADDITION OF RS. 3,27,299.00 BY WAY OF DISALLOWANCE U/S 43D OF THE IT ACT IS UNCALLED FOR AND UNJUSTIFIED AND THE LEARNED COMMISSIONER IS NOT JUSTIFIED TO CONFIRM THE SAME. 2. FOR THAT THE LEARNED COMMISSIONER OF APPEAL - IS UNLAWFUL IN DISALLOWING THE DEDUCTION U/ S. 36(L)(VII) OF IT ACT WHICH IS ALLOWABLE DEDUCTION FOR CO - OPERATIVE BANK W.E.F. 01/04/2008 VIDE CIRCULAR NO. - 3 DATED 12/03/2008. 3. FOR THAT THE DISALLOWANCE OF RS , 11, 17,299.00 BY WAY OF REFUSING THE CLAIM OF DEDUCTION U/S. 80 P(4) OF IT - ACT IS ALSO UNWARRANTED AND THE LEARNED ASSESSING OFFICER IS NOT JUSTIFIED TO CONFIRM THE SAME. 4. THAT THE STATUS OF CO - OPERATIVE SOCIETY AND BANK FOR THE PURPOSE OF SEC - 44 AB IS ARTIFICIAL 3URIDICAL PERSON AND THE LEARNED COMMISSIONER HAS NOT ALLOWED MAXIMUM AMOU NT NOT CHARGEABLE TO TAX WHILE COMPUTING THE TAXABLE INCOME. 5. FOR THAT THE LEARNED COMMISSIONER FAILED TO APPRECIATE THE SUBMISSION FURNISHED BEFORE THEM. ITA NO. 271 /1 3 2 6. FOR THAT IN ANY VIEW OF THE CASE THE ORDER OF ASSESSMENT IS BAD - IN - LAW. 7. FOR THAT AND OTHER GROUND TO BE ARGUED AT THE STAGE OF HEARING OF APPEAL, THE APPELLANT PRAYS FOR NATURAL JUSTICE. 2. THIS APPEAL WAS LISTED FOR HEARING ON 20 - 5 - 2015 , HOWEVER, NONE APPEARED ON BEHALF OF THE ASSESSEE . FROM THE PERUSAL OF THE RECORD, WE FIND THAT NOTICE OF HEARING WAS DULY SERVED UPON THE ASSESSEE. SINCE THE ASSESSEE DOES NOT APPEAR DESPITE VALID SERVICE OF NOTICE OF HEARING, WE HAVE NO OPTION BUT TO HEAR THE APPEAL EX - PARTE . 3. THE REVENUE HAS MOVED AN APPLICATION FOR ADJOURNMENT. SINCE WE DO NOT FIND ANY MERIT IN THE APPLICATION, WE REJECT THE SAME. 4. WE HAVE CAREFULLY GONE THROUGH THE ORDER OF THE CIT(A) AND GROUNDS RAISED BEFORE HIM AND WE FIND THAT THE CIT(A) HAS PROPERLY ADJUDICATED THE ISSUES RAISED BEFORE HIM AND SINCE NO INFIRMITY HAS BEE N POINTED OUT THEREIN, WE, THEREFORE, CONFIRM THE ORDER OF CIT(A). 5 . IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 22/05 / 201 5 . SD/ - SD/ - ( . . ) ( B. P. JAIN ) ( ) ( SUNIL KUMAR YADAV) / ACCOUNTANT MEMBER / JUDICIAL MEMBER CUTTACK ; DATED 2 2 /05 /2015 . . /PKM , . / PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / ( ASSTT. REGISTRAR) , / ITAT, CUTTACK 1 . / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), 4. / CIT 5. , , / DR, ITAT , CUTTACK 6. [ / GUARD FILE. //TRUE COPY//