SHRI MADHUKAR M. KADU, Nagpur V. INCOME TAX OFFICER WARD-3(2), Nagpur

ITA 426/NAG/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 93405 (ITAT-NAGPUR)
• Duration Of Justice: 9 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 08-09-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KANE
• Section: 143(3)

Judgement Text

1 ITA NOS. 426,427,452,453,454&437/NAG/2014 IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI MUKUL K. SHRAWAT, JUDICIAL MEMBER AND SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. APPELLANT BY :SHRI MAHAVIR ATAL.. RESPONDENT BY : SHRI NARENDRA KANE. DATE OF HEARING - 24 - 06 - 2015 DATE OF PRONOUNCEMENT 24 - 06 - 2015 S.NO. ITA NO. ASSESSMENT YEAR APPELLANT RESPONDENT. 1. 426/NAG/2014 2008 - 09 SHRI MADHUKAR M. KADU, PLOT NO.170,HINGNA ROAD, RAJENDRA NAGAR, NA GPUR. PANACQPK - 5939G INCOME - TAX OFICER,WARD - 3(2), NAGPUR. 2. 427/NAG/2014 2008 - 09 ARUN NARAYAN BABHULKAR, PRATAP NAGAR, WARD NO.10, WARDHA. PANABDPB8925F INCOME - TAX OFICER, WARD, WARDHA. 3. 452/NAG/2014 2007 - 08 VITHALRAO SITARAMJI TODSAM, OLD SATURNA, BADNERA ROAD, AMRAVATI. PANAAJPT5326Q INCOME - TAX OFFICER, WARD - 4, AMRAVATI. 4. 453/NAG/2014 2008 - 09 SHANKAR B. KADU, NEAR SHITLA MATA MANDIR, POSTAL COLONY, WARD NO.6,WARDHA. PANABZPK3853F INCOME - TAX OFFICER, WARD - WARDHA. 5. 454/NAG/2014 2008 - 09 SMT. SHEELA A. DALAL,, PLOT NO.66, NARKESHRI LAY OUT, JAIPRAKASH NAGAR, NAGPUR. PANAAWPD5478M INCOME - TAX OFFICER, CIRCLE - 3, NAGPUR. 6. 537/NAG/2014 2008 - 09 MUKUND S. PALSAPURE, N - 3/4 RATNATRAYA APT., LAXMI NAGAR, NAGPUR. PANABIPP1586D INCOME - TAX OFICER, CIRCLE - 3, NAGPUR. 2 ITA NOS. 426,427,452,453,454&437/NAG/2014 O R D E R PER BENCH: THESE APPEALS ARE FILED BY THE ASSESSEES AND THEY EMANATE OUT OF THE RESPECTIVE ORDERS OF THE CIT(APPEALS). THE ONLY GROUND RAISED IS IN RESPECT OF CLAIM OF EXEMPTION UNDER SECTION 10(10C). 2. AT THE OUTSET, IT IS NOTED THAT THERE IS FOLLOWING DELAY IN THESE CASES: S.NO. ITA NO. NAME DELAY IN FILING (DAYS) 1. 426/NAG/2014 MADHUKAR KADU 525 2. 453/NAG/2014 SHANKAR KADU 595 3. 427/NAG/2014 ARUN BABHULKAR 543 4. 452/NAG/2014 VITHALRAO TODSAM. 595 5. 454/NAG/2014 SHEELA DALAL 595 6. 537/NAG/2014 MUKUND PALSAPURE. 658 THE REASON FOR THE DELAY HAS BEEN ATTRIBUTED TO THE FACT THAT DUE TO HIGH COST OF APPEAL FILING FEE AND RELATED LEGAL FEE, THE ASSESSEES ON LEGAL ADVISE, HA VE BEEN PURSUING ALTERNATIVE REMEDY IN THE FORM OF MISCELLANEOUS APPLICATION. THEREAFTER, SUBSEQUENTLY ON FURT HER LEGAL ADVISE, IT WAS DECIDED BY THE ASSESSEES TO WITHDRAW MISCELLANEOUS APPLICATION AND FILE AN APPEAL. THEREFORE, THE DELAY WAS CAUSED IN THESE CASES. IT HAS FURTHER BEEN SUBMITTED THAT IN SIMILAR CIRCUMSTANCES IN A GROUP OF CASES FOR SIMILAR DELAYS, THIS TRIBUNAL HAS CONDONED THE DELAY VIDE ORDER DATED 09 - 09 - 2014 3. UPON HEARING BOTH THE COUNSEL AND PERUSING THE RECORDS, WE ARE INCLINED TO CONDONE THE DELAY AND THE SAME IS CONDONED AS SUCH. ACCORDINGLY, WE PROCEED TO ADJUDICATE THE ISSUES AS UNDER. 3 ITA NOS. 426,427,452,453,454&437/NAG/2014 4. WE FIND THAT IN IDENTICAL SITUATION THIS TRIBUNAL IN ITA N O.20/NAG/2012 FOR ASSESSMENT YEAR 2008 - 09 IN THE CASE OF JANARDHAN M. DHABARDE V/S. ITO VIDE ORDER DATED 8 TH MAY, 2015 HAS ADJUDICATED THE ISSUE AS UNDER : THE UNDISPUTED FACT AS EMERGED FROM THE CORRESPONDING ASSESSMENT ORDER PASSED UNDER SECTION 143(3) DATED 23 - 12 - 2010 IS THAT THE ASSESSEE, AN INDIVIDUAL, IS AN EX EMPLOYEE OF STATE BANK OF INDIA. VIDE PARA 3 OF THE ASSESSMENT ORDER, THE ASSESSING OFFICE R HAS MENTIONED THAT THE ASSESSEE HAD OPTED A VOLUNTARY RETIREMENT BY EXIT OPTION SCHEME OF STATE BANK OF INDIA. THE ASSESSEE HAS CLAIMED A DEDUCTION UNDER SECTION 10(10C) OF THE I.T. ACT OF ` . 5,00,000/ - WHICH WAS DISALLOWED BY THE ASSESSING OFFICER . EVEN THE FIRST APPELLATE AUTHORITY HAD UPHELD THE SAID DISALLOWANCE. HOWEVER, NOW BEFORE US, FEW DECISIONS OF ITAT, NAGPUR HAVE BEEN PLACED ON RECORD WHEREIN FOR ASSESSMENT YEAR 2008 - 09 THE CLAIM OF DEDUCTION IN RESPECT OF EXIT OPTION SCHEME OF STATE BANK OF INDIA WAS CONSIDERED AND DEDUCTION WAS ALLOWED. IN A BUNCH OF 10 APPEALS, ITAT, NAGPUR BENCH, ORDER DATED 11 - 092014 (AT SR. NO.1 ITA NO.380/NAG/2014 S HRI MANSUKHLAL CHAGANLAL PARMAR) THIS ISSUE WAS CONSIDERED AND HELD THAT SUCH EMPLOYEES ARE ELIGIBLE FOR CLAIM OF DEDUCTION UNDER SECTION 10(10C) OF THE I.T. ACT. RESPECTFULLY FOLLOWING THIS DECISION OF THE COORDINATE BENCH, WE HEREBY DIRECT TO ALLOW THE CLAIM OF EXEMPTION AS PRESCRIBED UNDER SECTION 10(10C) OF THE I.T. ACT. GROUNDS RAIS ED IN THIS REGARD ARE HEREBY ALLOWED. 5. SINCE THE FACTS ARE IDENTICAL AND THE EMPLOYEES IN THESE CASES ARE ALSO EMPLOYEES OF STATE BANK OF INDIA, FOLLOWING THE PRECEDENT AS ABOVE, WE ALLOW THE GROUND RAISED BY THE ASSESSEE AND HOLD THAT THE ASSESSEES SH OULD BE ALLOWED THE CLAIM OF EXEMPTION. 4 ITA NOS. 426,427,452,453,454&437/NAG/2014 6. IN THE RESULT, THESE APPEALS FILED BY THE ASSESSEE S STAND ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 24 TH JUNE, 2015. SD/ - SD/ - (MUKUL K. SHRAWAT) (SHAMIM YAHYA) JUDICIAL MEMBER. ACCOUNTANT MEMBER NAGPUR, DATED: 24 TH JUNE, 2015. COPY OF ORDER FORWARDED TO : 1. THE ASSESSEE. 2. REVENUE. 3. THE CIT(A) 4. THE CIT, NAGPUR. 5. THE D.R., ITAT, NAGPUR. 6. GUARD FILE. TRUE COPY. BY ORDER ASSISTANT REGISTRAR, ITAT, NAGPUR WAKODE