Sri Bishnu Charan Dash, Bhubaneswar V. ITO, Bhubaneswar

ITA 295/CTK/2009

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 4286 (ITAT-CUTTACK)
• Duration Of Justice: 7 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2010
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 17-12-2009
• Court: TRIBUNAL
• Department Lawyers: S C MOHANTY
• Assessee Lawyers: B S SUBUDHI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE HONBLE SHRI D.K.TYAGI, JUDICIAL MEMBER. /AND HONBLE SHRI K.K.GUPTA, ACCOUNTANT MEMBER . / I.TA.NO . 295/CTK/2009 / ASSESSMENT YEAR 2006 - 07 SRI BISHNU CHARAN DASH, PLOT NO.A/L - 21, VSS NAGAR,BHUBANESWAR 751 007 PAN : AAOOPD 5559 M - - - VERSUS - . INCOME - TAX OFFICER, WARD 2(3), BHUBANESWAR. / A PPELLANT RESPONDENT FOR THE APPELLANT : SHRI B.S.SUBUDHI, AR FOR THE RESPONDENT : SHRI S.C.MOHANTY, DR / ORDER SHRI K.K.GUPTA, ACCOUNTANT MEMBER . THE ASSESSEE IS IN APPEAL AGITATING THE DENIAL OF EXEMPTION U/S.10(10C) OF THE INCOME - TAX ACT,1961. 2. WE HAVE HEARD THE RIVAL CONTENTION AND PERUSED THE MATERIAL ON RECORD. THE ASSESSMENT HAS BEEN FRAMED U/S.144/147 WHEN THE ASSESSI NG OFFICER CHOSE TO HOLD THAT THE EXEMPTION GRANTED EARLIER U/S.10(10C) WAS ERRONEOUSLY GIVEN AS INCOME HAVING ESCAPED ASSESSMENT WAS VERIFIED U/S.147. IN HIS ORDER U/S.147/144 THE PROVISIONS OF RULE 2BA WERE INVOKED TO CONSIDER THE CASE OF THE ASSESSEE DE NYING EXEMPTION U/S.10(10C). 3. AGGRIEVED THE ASSESSEE APPEALED BEFORE THE LEARNED CIT(A) WHO CONFIRMED THE ACTION OF THE ASSESSING OFFICER. 4. WE ARE INCLINED TO HOLD THAT ISSUE IS COVERED BY PLETHORA OF DECISIONS IN THE CASE OF VRS OPTED BY E MPLOYEES OF STATE BANK OF INDIA AND RESERVE BANK OF INDIA AND THE PROVISIONS OF RULE 2BA WHETHER APPLICABLE TO THE EMPLOYEES IN ACCORDANCE WITH THE VRS SCHEME FLOATED BY THE RESPECTIVE AUTHORITIES WAS TO BE APPLIED IN ACCORDANCE WITH THE FIRST PROVISO TO S ECTION 10(10C) AVAILABLE TO SUCH AUTHORITIES SUCH AS BANK. WE HAVE IN AN ANOTHER APPEAL BEING ITA NO.290/CTK/2009 IN THE CASE OF S.SUBRAMANIYA SUBHUDHI RESTORED THE ISSUE TO THE FILE OF THE ASSESSING OFFICER FOR I.TA.NO .295/CTK/2009 2 CONSIDERING THE ISSUE IN THE LIGHT OF PLETHO RA OF JUDGMENTS RELATING TO EMPLOYEES OF STATE BANK OF INDIA THEREFORE COVERS THE ISSUE IN SO FAR AS THE PROVISO TO SECTION 10(10C) AND RULE 2BA HAS BEEN EXPLAINED THEREIN. THE ASSESSEE HAS TO ASSIST THE ASSESSING OFFICER, AFTER AVAILING OPPORTUNITY OF BEI NG HEARD TO BRING VARIOUS DECISIONS OF THE ITAT,CUTTACK BENCH ON THE BASIS OF IDENTICAL FACTS. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS CONSIDERED AS ALLOWED FOR STATISTICAL PURPOSES. THIS ORDER IS PRONOUNCED IN OPEN COURT ON DT. 30.07.2010 S D/ - S D/ - ( ), D.K.TYAGI JUDICIAL MEMBER (K.K.GUPTA), ACCOUNTANT MEMBER. DATE: 30 . 07.2010 - COPY OF THE ORDER FORWARDED TO : / THE APPELLANT : SRI BISHNU CHARAN DASH, PLOT NO.A/L - 21, VSS NAGAR,BHUBANESWAR 751 007 / THE RESPONDENT : INCOME - TAX OFFICER, WARD 2(3),BHUB ANESWAR THE CIT, THE CIT(A), DR, CUTTACK BENCH GUARD FILE TRUE COPY , BY ORDER , [ ] SENIOR PRIVATE SECRETARY ( /) H.K.PADHEE SENIOR.PRIVATE SECRETARY .