The Deesa Survankar Nagrik Sarafi Sahakari Mandali Ltd., Deesa V. The ACIT, B.K.Circle, Palanpur

ITA 2823/AHD/2013

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 9521 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-01-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 11-01-2017
• Assessment Year: 2008-2009
• Appeal Filed On: 03-12-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH MEENA
• Assessee Lawyers: P S KANUDAWALA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER ./ ITA NO. 2823/AHD/2013 / ASSESSMENT YEAR : 2008-09 THE DEESA SURVANKAR NAGRIK SARAFI SAHAKARI MANDALI LTD., SUBHASH CHOWK, OPP. PETROL PUMP, DEESA-385535 PAN NO. AABAT 3306 J VS ACIT, B.K. CIRCLE, PALANPUR / (APPELLANT) / (RESPONDENT) ASSESSEE BY : SHRI P.S. KANUDAWALA, AR REVENUE BY : SHRI RAJESH MEENA, SR DR / DATE OF HEARING : 11/01/2017 / DATE OF PRONOUNCEMENT: 11/01/2017 / O R D E R THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME-TAX (APPEALS)-I, AHM EDABAD DATED 17.09.2013 FOR ASSESSMENT YEAR 2008-09. 2. VARIOUS GROUNDS ARE RAISED; HOWEVER, THE EFFECTI VE GROUND IS AS UNDER:- THE LD. CIT(A) ERRED IN LAW AND ON FACTS IN DENYING THE BENEFIT OF SECTION 80P(2)(A)(I) OF THE INCOME-TAX ACT, 1961, IGNORING THAT THE ASSESSEE IS NOT A CO-OPERATIVE BANK AND IN THE PRECEDING AY 2007-08, THE CIT(A), AFTER EXAMINING THE AMENDMENT IN PROVISIONS OF SECTION 2( 24) AND 80P(4), HELD THAT THEY ARE NOT APPLICABLE TO ASSESSEE AND IT WAS ELIGIBLE FOR THE BENEFIT. 3. LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, CON TENDS THAT IT IS NOT DISPUTED THAT THE ASSESSEE IS A CO-OPERATIVE CREDIT SOCIETY AND IT IS NOT A CO- OPERATIVE BANK. THEREFORE, THE DECISION OF HONBLE GUJARAT HIGH COURT IN SMC-ITA NO. 2823/AHD/2013 THE DEESA SURVANKAR NAGRIK SARAFI SAHAKARI MANDALI LTD VS. ACIT AY : 2008-09 2 THE CASE OF CIT VS. JAFARI MOMIN VIKAS CO-OP CREDIT SOCIETY LTD, REPORTED IN 362 ITR 331 (GUJ.) IS FULLY APPLICABLE TO IT. IN T HE PRECEDING ASSESSMENT YEAR, I.E. AY 2007-08, THE LD. CIT(A) HELD THE ASSESSEE T O BE ELIGIBLE FOR DEDUCTION U/S 80P(2)(A)(I) AND ALLOWED THE ASSESSEES CLAIM B Y FOLLOWING OBSERVATIONS:- 3.5 HONBLE ITAT B BENCH, AHMEDABAD IN THE CASE OF JAFRI MOMIN VIKAS CO-OP. CREDIT SOCIETY LTD., SIDHPUR FOR AY 2007-08 VIDE ORDER NO.ITA NO.902/AHD/2012 DATED 20.06.2012 DISMISSED THE APPE AL OF THE REVENUE AND ALLOWED THE CROSS-OBJECTION RAISED BY THE ASSESSEE. AS THE FACTS OF THE CASE ARE IDENTICAL TO THE CASE DECIDED BY THE HONBLE ITAT B BENCH, AHMEDABAD, AS MENTIONED ABOVE, THE APPEAL OF THE ASSESSEE IS ALLO WED. 4. LD. DEPARTMENTAL REPRESENTATIVE IS HEARD WHO SUP PORTED THE ORDERS OF THE AUTHORITIES BELOW. 5. I HAVE HEARD THE RIVAL CONTENTIONS, PERUSED THE MATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITI ES BELOW. IT IS UNDISPUTED FACT THAT THE ASSESSEE IS A CO-OPERATIVE CREDIT SOCIETY AND NOT A CO-OPERATIVE BANK. IN VIEW THEREOF, THE DECISION O F HONBLE GUJARAT HIGH COURT IN THE CASE OF JAFARI MOMIN VIKAS CO-OP CREDI T SOCIETY LTD (SUPRA) IS APPLICABLE TO THE CASE OF THE ASSESSEE. THEREFORE, IT IS HELD THAT THE ASSESSEE IS ELIGIBLE FOR CLAIM OF DEDUCTION U/S 80P(2)(A)(I) OF THE ACT. IN VIEW THEREOF, THE ASSESSEES APPEAL IS ALLOWED. 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 11 TH JANUARY, 2017 AT AHMEDABAD. SD/- R.P. TOLANI (JUDICIAL MEMBER) AHMEDABAD, DATED 11/01/2017 *BIJU T., SR. PS SMC-ITA NO. 2823/AHD/2013 THE DEESA SURVANKAR NAGRIK SARAFI SAHAKARI MANDALI LTD VS. ACIT AY : 2008-09 3 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A) 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE . / BY ORDER, TRUE COPY / ( DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD