Income Tax Officer, Ward -1(4)., Belagavi V. Shri Mallikarjun Co-op. Credit Society Ltd., Belagavi

ITA 415/PAN/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93468 (ITAT-PANAJI)
• Duration Of Justice: 6 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-06-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 15-06-2015
• Assessment Year: 2011-2012
• Appeal Filed On: 08-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NISHANT K
• Assessee Lawyers: S V HALBHAVI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH, PANAJI BEFORE SHRI GEORGE MATHAN , HONBLE JUDICIAL MEMBER AND SHRI N.K. BILLAIYA , HONBLE ACCOUNTANT MEMBER ITA NO. 415 /PNJ/2014 (ASST. YEAR : 20 11 - 1 2 ) ITO, WARD - 1(1), BELAGAVI. VS. SHRI MALLIKARJUN CO - OPERATIVE CREDIT SOCIETY, A/P :JUGUL, TAL : ATHANI, DISTRICT BELGAUM. PAN NO. AA AA S 5616 H (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI S.V. HALBHAVI - CA DEPARTMENT BY : SHRI NISHANT K. - D.R. DATE OF HEARING : 15 / 0 6 /2015 . DATE OF PRONOUNCEMENT : 15 / 0 6 /201 5 . O R D E R PER N.K. BILLAIYA THIS IS AN APPEAL BY THE REVENUE PREFERRED AGAINST THE ORDER OF L D. CIT (A), BELGAUM DATED 2 7 / 1 0/201 4 PERTAINING TO A.Y. 20 11 - 1 2 . 2. THE SUM AND SUBSTANCE OF THE GRIEVANCE OF THE REVENUE IS TH A T THE LD. CIT(A) ERRED IN LAW AND ON FACTS IN NOT APPRECIATING THE FACT THAT THE ASSESSEE IS A COOPERATIVE SOCIETY WHICH FUL FIL S ALL THE THREE 2 ITA NO. 415 /PNJ/2014 CONDITIONS OF BEING A COOPERATIVE BANK AND, HENCE, NOT ELIGIBLE FOR DEDUCTION U/S. 80P(2) OF THE ACT. 3. IN I.T.A.NO. 33/PNJ/2014 , WE HAVE CONSIDERED AN IDENTICAL ISSUE PERTAINING TO A DEDUCTION ALLOWABLE U/S. 80P(2) OF THE ACT IN A CASE OF A C OOPERATIVE S OCIETY VIS - A - VIS C OOPERATIVE B ANK FOR THE DETAILED REASONS GIVEN THEREIN , APPEAL OF THE REVENUE IS DISMISSED. 4 . IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ( ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH JUNE , 201 5 ). S D / - S D / - ( GEORGE MATHAN ) ( N.K. BILLA I YA ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 1 5 T H JUNE , 201 5 . VR/ - COPY TO: 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE LD. CIT 4 . THE CIT(A) 5 . THE D.R 6 . GUARD FILE. BY ORDER ASSISTANT REGISTRAR I.T.A.T., PANAJI 3 ITA NO. 415 /PNJ/2014 DATE INITIAL ORIGINAL DICTATION PAD IS ENCLOSED IN THE FILE 1. DRAFT DICTATED ON 1 5 .06.2015 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 1 5 .06.2015 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 1 5 /06/2015 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 1 5 /06/2015 JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 1 5 /06/2015 SR.PS 6. DATE OF PRONOUNCEMENT 1 5 /06/2015 SR.PS 7. FILE SENT TO THE BENCH CLERK 1 6 /06/2015 SR.PS 8. DATE ON WHICH FILE GOES TO THE HEAD CLERK 9. DATE OF DISPATCH OF ORDER