M/s.Thalassery Range Kallu Chethu Vyavasaya Thozhilali Co-op Society Ltd, Kannur V. The ITO, Kannur

ITA 327/COCH/2015

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 96702 (ITAT-COCHIN)
• Duration Of Justice: 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-09-2015
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Next Hearing Date: 01-09-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 04-06-2015
• Court: TRIBUNAL
• Department Lawyers: V R GOPAKUMAR
• Assessee Lawyers: T M SREEDHARAN
• Section: 142(1); 10AA; 10B; 148; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI B.P. JAIN, AM AND GEORGE GEOR GE K., JM I.T.A. NO . 327/COCH/2015 ASSESSMENT YEAR : 2009-10 M/S. THALASSERY RANGE KALLU CHETHU VYAVASAYA THOZHILALI CO- OPERATIVE SOCIETY LTD., C.H. MANDIRAM, T.C. ROAD, THALASSERY, KANNUR-670 104. [PAN:AABTT 3822G] VS. THE INCOME-TAX OFFICER, WARD-2, KANNUR RANGE, KANNUR. (ASSESSEE-APPELLANT) (REVENUE-RESPONDENT) ASSESSEE BY SHRI T.M. SREEDHARAN, SR. ADV. REVENUE BY SHRI V.R. GOPAKUMAR, SR. DR DATE OF HEARING 01/09/2015 DATE OF PRONOUNCEMENT 03/09/2015 O R D E R PER B.P. JAIN, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS ARISING FROM THE ORDER OF THE CIT(A), MANANCHIRA, KOZHIKODE DATED 30/03/2015 FOR THE ASSE SSMENT YEAR 2009-10. 2. THE ASSESSEE HAS RAISED AS MANY AS 13 GROUND S OF APPEAL AND AS ARGUED BY THE LD. COUNSEL FOR THE ASSESSEE AND ALSO ON OUR PERUSAL OF THE GROUND OF APPEAL RAISED BY THE ASSESSEE, THERE IS ONLY ONE IS SUE WITH REGARD TO THE DISALLOWANCE OF DEDUCTION U/S. 80P OF THE ACT. I.T.A. NO.327/COCH/2015 2 3. THE FACTS OF THE CASE ARE THAT THE ASSESSEE IS A CO-OPERATIVE SOCIETY ENGAGED IN THE BUSINESS OF TODDY. THE RETURN OF IN COME FOR THE YEAR WAS NOT FILED BY THE ASSESSEE WITHIN THE PRESCRIBED TIME U/ S. 139(1) OR 139(4) OR IN RESPONSE TO NOTICE U/S. 142(1) OF THE ACT. ACCORDI NGLY, THE ASSESSING OFFICER COMPLETED THE ASSESSMENT U/S. 144 OF THE ACT DISALL OWING THE CLAIM MADE U/S. 80P OF THE ACT. 4. THE LD. CIT(A) CONFIRMED THE ACTION OF THE AS SESSING OFFICER BY FOLLOWING THE DECISION OF THE COCHIN BENCH OF THE TRIBUNAL IN THE CASE OF M/S. KADACHIRA SERVICE CO-OPERATIVE BANK LTD. VS. ITO, WARD-1, KAN NUR DATED 31/01/2013, REPORTED IN (2013) 30 TAXMAN.COM 32 (COCH. TRIB.) W HEREIN IT WAS HELD THAT IF THE SOCIETY FAILED TO FILE ITS RETURN OF INCOME EIT HER U/S. 139(1) OR 139(4) OR IN PURSUANCE OF NOTICE ISSUED U/S. 142(1) OR U/S. 148, THE SOCIETY IS NOT ENTITLED TO ANY DEDUCTION U/S. 80P OF THE INCOME TAX ACT, 1961. IN THE PRESENT CASE, THE ASSESSEE HAS NOT FILED THE RETURN OF INCOME EITHER U/S. 139(1) OR 139(4) OR IN RESPONSE TO NOTICE ISSUED U/S. 142(1) OR U/S. 148 A ND THEREFORE, THE LD. CIT(A) DID NOT INTERFERE WITH THE ORDER OF THE ASSESSING O FFICER AND THE ASSESSMENT ORDER WAS CONFIRMED. 5. THE LD. COUNSEL FOR THE ASSESSEE ARGUED THAT THE ASSESSEE HAS PRODUCED BOOKS OF ACCOUNT BEFORE THE ASSESSING OFFICER AND T HEREFORE, THE ASSESSEE WAS ELIGIBLE FOR DEDUCTION U/S. 80P(2)(A)(VI) OF THE AC T. I.T.A. NO.327/COCH/2015 3 6. THE LD. DR, ON THE OTHER HAND, RELIED ON THE ORD ERS OF THE AUTHORITIES BELOW. 7. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERU SED THE FACTS OF THE CASE. IT IS PERTINENT TO REPRODUCE SECTION 80A(5) OF THE ACT WHICH READS AS UNDER: (5) WHERE THE ASSESSEE FAILS TO MAKE A CLAIM IN H IS RETURN OF INCOME (OR ANY DEDUCTION U/S. 10A OR SECTION 10AA OR SECTION 10B OR SECTION 10BA OR UNDER ANY PROVISION OF THIS CHAPTER UNDER THE HEAD ING C DEDUCTIONS IN RESPECT OF CERTAIN INCOMES, NO DEDUCTION SHALL BE ALLOWED TO HIM THEREUNDER: 8. FROM THE READING OF THE PROVISIONS OF SEC. 8 0A(5) OF THE ACT, DEDUCTION U/S. 80P COMES UNDER THE HEAD C, I.E., DEDUCTION IN RE SPECT OF CERTAIN INCOMES, WHICH IS NOT AVAILABLE IF THE ASSESSEE FAILS TO MAK E A CLAIM IN HIS RETURN OF INCOME FOR ANY DEDUCTION UNDER ANY PROVISION OF CHAPTER VI A UNDER THE HEADING C AS MENTIONED HEREINABOVE. THERE IS NO DISPUTE TO THE F ACT THAT IN THE PRESENT CASE, THE ASSESSEE HAS NOT FILED THE RETURN OF INCOME WIT HIN THE PRESCRIBED TIME U/S. 139(1) OR 139(4) OR IN RESPONSE TO NOTICE U/S. 142( 1) OR 148 OF THE ACT. THEREFORE, BY NO MEANS, THE ASSESSEE IS ENTITLED TO DEDUCTION U/S. 80P OF THE ACT. THE PRODUCTION OF BOOKS OF ACCOUNT FOR THE YE AR DOES NOT ENTITLE THE ASSESSEE FOR DEDUCTION U/S. 80P OF THE ACT, AS ARGU ED BY THE LD. COUNSEL FOR THE ASSESSEE. A SIMILAR ISSUE HAS BEEN DEALT WITH BY T HE COCHIN BENCH OF THE I.T.A. NO.327/COCH/2015 4 TRIBUNAL IN THE CASE OF M/S. KADACHIRA SERVICE CO-O PERATIVE BANK LTD. (CITED SUPRA). FOLLOWING THE SAME AND IN VIEW OF OUR FIND INGS HEREINABOVE, WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF THE LD. CIT(A) W HO HAS RIGHTLY CONFIRMED THE ACTION OF THE ASSESSING OFFICER. THUS, ALL THE GROU NDS RAISED BY THE ASSESSEE ARE DISMISSED. 9. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. PRONOUNCED IN THE OPEN COURT O N 03-09-2015 SD/- SD/- (GEORGE GEORGE K.) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: KOCHI DATED: 3RD SEPTEMBER, 2015 GJ COPY TO: 1. M/S. THALASSERY RANGE KALLU CHETHU VYVASAYA THO ZHILALI CO-OPERATIVE SOCIETY LTD., C H MANDIRAM, T.C. ROAD, THALASSERY, KANNUR-6 70 104. 2. THE INCOME TAX OFFICER, WARD-2, KANNUR RANGE, KA NNUR. 3. THE COMMISSIONER OF INCOME-TAX(APPEALS),KOZHIKOD E. 4. THE COMMISSIONER OF INCOME-TAX, KOZHIKODE. 5. D.R., I.T.A.T., COCHIN BENCH, COCHIN. 6. GUARD FILE. BY ORDER (ASSISTANT REGISTRAR) I.T.A.T., COC HIN