I.T.O., Guna V. Krishi Upaj Mandi Samiti, Ashok Nagar

ITA 416/AGR/2010

• Counselvise Citation: 41620314 RSA 2010
• Duration Of Justice: 1 year(s) 1 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 21-11-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 05-10-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A K SHARMA
• Assessee Lawyers: MAHESH AGARWAL
• Keywords: Capital expenditure

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI B.P. JAIN, ACCOUNTANT MEMBER ITA NO. 416/AGRA/2010 ASSTT. YEAR : 2007-08 INCOME-TAX OFFICER, GUNA. VS. KRISHI UPAJ MAND I SAMITI, MUNGAWALI, ASHOK NAGAR (PAN : AAALK 0205 B) (APPELLANT) (RESPONDENT) FOR APPELLANT : SHRI A.K. SHARMA, JR. D.R. FOR RESPONDENT : SHRI MAHESH AGARWAL, C.A. DATE OF HEARING : 21.11.2011 DATE OF PRONOUNCEMENT : 24.11.2011 ORDER PER BENCH: THE REVENUE HAS FILED THE PRESENT APPEAL AGAINST THE IMPUGNED ORDER DATED 20.07.2010 PASSED BY THE LD. CIT(A), GWALIOR ON THE FOLLOWING GROUNDS : 1. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE THE CIT(APPEALS) HAS ERRED IN DELETING THE ADDITION OF RS.2,07,611/- ON ACCOUNT OF DEDUCTION CLAIMED UNDER AARAKSHIT NIDHI. 2. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE THE CIT(APPEALS) HAS ERRED IN DELETING THE ADDITION OF RS.20,72,611/- ON ACCOUNT OF CAPITAL EXPENDITURE. 3. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE THE CIT(APPEALS) HAS ERRED IN DELETING THE ADDITION OF RS.11,10,502/- ON ACCOUNT OF DEDUCTION U/S. 11(1)(A) OF THE I.T. ACT. 4. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE THE CIT(APPEALS) HAS ERRED IN CONSIDERING THE EXEMPTION U/S. 11 BESIDES NOT FULFILLING CONDITIONS LAID DOWN U/S. 11 & 12 OF THE I.T. ACT. 2. AT THE TIME OF HEARING, THE LD. COUNSEL FOR THE ASSESSEE STATED THAT THE ISSUE INVOLVED IN GROUND NO. 1 TO 4 HAD ALREADY BEEN ADJUDICATED AND DECIDED IN FAVOUR OF THE ASSESSEE BY THIS 2 BENCH ON 30 TH JUNE, 2011 IN ITA NOS. 271, 273, 274 AND 275/AGRA/ 2010 IN THE CASES OF VARIOUS MANDI SAMITIS OF DISTRICT GUNA. HE HAS ALSO FILED A COPY OF THIS ORDER IN THE SHAPE OF PAPER BOOK CONTAINING PAGES 1 TO 20 AND HAS ATTACHED THE SAME AT PAGE NO. 15 TO 20. HE FURTHER STATED THAT THE DECISION OF THIS BENCH (SUPRA) HAS ALSO BEEN UP HELD BY THE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. KRISHI UPAJ MANDI SAMITI, MORENA & ORS. (2009) 308 ITR 380. HE REQUESTED THAT THE APPEAL FILED BY THE DEPARTMENT BE DISMISSE D. 3. ON THE CONTRARY, THE LD. DR RELIED UPON THE ORDE R OF THE ASSESSING OFFICER. 4. AFTER HEARING BOTH THE PARTIES AND PERUSING THE ORDER PASSED BY THIS BENCH AS WELL AS THE ORDER OF JURISDICTIONAL HIGH CURT IN THE CASE OF CI T VS. KRISHI UPAJ MANDI SAMITI, MORENA & ORS.(SUPRA), WE ARE OF THE CONSIDERED OPINION THAT THE ISSUE IN DISPUTE IS COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION OF HONBLE ITAT, AGRA BENC H (SUPRA) WHICH HAS BEEN UPHELD BY HONBLE JURISDICTIONAL HIGH COURT. THE IMPUGNED ORD ER PASSED BY THE LD. FIRST APPELLATE AUTHORITY IS, THEREFORE, UPHELD. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 24.11.2011. SD/- SD/- (B.P. JAIN) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 24 TH NOVEMBER, 2011 *AKS/- COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A) BY ORDER 4. CIT, CONCERNED 5. DR, ITAT, AGRA 6. GUARD FILE ASSISTANT REGISTRAR TRUE COPY