JCIT, Ghaziabad V. M/s. Ghaziabad Urban Cooperative Bank Ltd., Ghaziabad

ITA 4527/DEL/2013

• Counselvise Citation: 452720114 RSA 2013
• Duration Of Justice: 1 year(s) 7 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 19-02-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 31-07-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: J P CHANDRAKAR
• Assessee Lawyers: L M AGARWAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ES: C , NEW DELHI BEFORE S MT. DIVA SINGH, JUDICIAL MEMBER AND SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER ITA NO. 4527 /DEL/201 3 AY: 2009 - 10 JCIT, RANGE 2, CGO 2 VS. GHAZIABAD URBAN COOPERATIVE BANK LTD. HAPUR ROAD 109, NAVYUG MARKET GHAZIABAD GHAZIABAD PAN: AAAAG 0489 J (APPELLANT) (RESPONDENT) APPELLANT BY : S H, J.P.CHANDRAKAR, SR.D.R. RESPONDENT BY : SH. L.M.AGARWAL, C.A. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER THIS APPEAL IS FILED BY THE REVENUE AND IS DIRECTED AGAINST THE ORDER OF THE LD.CIT(APPEALS) , GHAZIABAD DATED 16.05.2013 PERTAINING TO THE A.Y. 2009 - 10, ON THE FOLLOWING GROUNDS. 1. THAT THE LD. CI(A) HAS ERRED IN LAW AND ON FACTS OF THE CASE BY ALLOWING THE RELIEF OF RS.14,01,879/ - MADE BY THE AO ON ACCOUNT OF DISALLOWANCE OF INTEREST ON EPF. 2. THAT THE LD.CI(A) HAS ERRED IN LAW AND ON FACTS AND CIRCUMSTANCES OF THE CASE BY NOT APPRECIATION THE FACT THAT THE ASSESSEE HAS NOT FURNISHED ANY DETAILS DURING THE COURSE OF ASSESSMENT PROCEEDINGS. 3. HENCE ORDER OF THE LD.CIT(A) DESERVES TO BE REVERSED/SET ASIDE AND THE ORDER OF THE AO MAY BE RESTORED. 4. THE APPELLANT CRAVES LEAVE TO ADD, ALTER OR AMEND ANY/ALL OF THE GROUNDS OF APPEAL BEFO RE OR DURING THE COURSE OF HEARING OF THE APPEAL. 2 . WE HAVE HEARD SHRI L.M.AGARWAL, T HE LD.COUNSEL FOR THE ASSESSEE AND SHRI JP CHANDRAKAR, ON BEHALF OF THE REVENUE. ITA NO. 4527/DEL/2013 A.Y.: 2009 - 10 GHAZIABAD URBAN COOPERATIVE BANK LTD. 2 3. LD.D.R. SUBMITTED THAT THE INTEREST IN QUESTION CANNOT BE ALLOWED AS THE CONT RIBUTION TO EPF ACCOUNT WAS HELD AS NOT ALLOWABLE BY THE ITAT IN THE ASSESSEE S OWN CASE FOR THE EARLIER A.Y. HE SUBMITTED THAT THE CONTRIBUTION WAS PAID TO AN UNRECOGNISED EPF ACCOUNT AND UNDER THOSE CIRCUMSTANCES THE AMOUNT CANNOT BE ALLOWED. 4. THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT EXCEPT FOR THE A.Y. 2009 - 10, FOR THE A.Y. 2004 - 05 TO 2008 - 09 AND 2010 - 11 AND 2011 - 12 SIMILAR CLAIM OF PAYMENT ON INTEREST WAS ALLOWED BY THE A.O. U/S 143(3) PROCEEDINGS. HE FURTHER SUBMITTED THAT ONLY CONTRIBUTIO N TO EPF ACCOUNT CAN BE DISALLOWED UNDER THE SECTION , BUT INTEREST ON EPF PA ID CANNOT BE DISALLOWED AS THERE IS NO SPECIFIC SECTION JUSTIFYING THE SAME. 5. AFTER HEARING RIVAL SUBMISSIONS, WE ARE OF THE CONSIDERED OPINION THAT INTEREST PAID ON EPF ACCO UNT CANNOT BE EQUATED WITH CONTRIBUTION TO P.F. ACCOUNT. S.36(IV) OF THE I.T.ACT, 1961 DEALS WITH EMPLOYER CONTRIBUTION TOWARDS RECOGNISED P.F. AND NOT INTEREST THEREON. SO FOR THIS REASON WE UPHOLD THE ORDER OF THE FIRST APPELLATE AUTHORITY AND DISMISS THIS GROUND OF THE REVENUE. 6. IN THE RESULT THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH MARCH, 2015. SD/ - SD/ - ( DIVA SINGH ) ( J. SUDHAKAR REDDY ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 25 TH MARCH, 2015 MANGA ITA NO. 4527/DEL/2013 A.Y.: 2009 - 10 GHAZIABAD URBAN COOPERATIVE BANK LTD. 3 COPY FORWARDED TO: - 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR, ITAT TRUE COPY BY ORDER, ASSISTANT REGISTRAR