ITO 22(3)(4), NAVI MUMBAI V. SHREE BHIMASHANKAR NAGARI SAHAKARI PATSANSTHA MARYADIT, NAVI MUMBAI

ITA 4777/MUM/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 101125 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 15-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SANTOSH PATIL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES SMC BEFORE SHRI B.R. BASKARAN , A M AND SHRI LALIT KUMAR , J M ITA N O. 4777 /MUM/ 201 4 ASSESSMENT YEAR 20 10 - 11 , ITO 2 2 ( 3 ) ( 4 ), VASHI RALY. STATION COMPLEX, TOWER NO.6, 3 RD FLOOR, VASHI, NAVI MUMBAI VS . SHRI BHIMASHANKAR NAGARI SAHAKARI PATSANSTHA MARYADIT, A/25/10, TURBHE COLONY, NAVI MUMBAI - 400705 APPLICANT RESPONDENT REVENUE BY S HRI AIRIJU JAIKARAN ( D R) RESPONDENT BY S HRI . SANTOSH PATIL (AR) DATE OF HEARING : 20 - 0 8 - 201 5 DATE OF PRONOUNCEMENT : 23 - 09 - 2015 ORDER PER LALIT KUMAR , J .M. THE AFORESAID APPEAL HAS BEEN FILED BY THE REVENUE AGAINST ORDER DATED 1.05.2014 , PASSED BY THE LEARNED COMMISSIONER (APPEALS) 3 3 , MUMBAI, FOR THE QUANTUM OF ASSESSMENT PASSED UNDER SECTION 143 (3), FOR THE ASSESSMENT YEAR 2010 - 11 , ON THE FOLLOWING GROUNDS OF APPEAL : 1 . ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) ERRED IN DELETING THE ADDITIONS OF RS.7,17,807/ - BY HOLDING THAT THE ASSESSEE BEING A CO - OPERATIVE CREDIT SOCIETY IS NOT A CO - OPERATIVE BANK AND HENCE IS ENTITLED FOR DEDUCTION U/S.80P OF THE I.T. ACT, 1961. 2. THE APPELLANT PRAYS THAT THE ORDER OF THE LD. CIT(A) ON THE ABOVE GROUND BE REVERSED AND THA T OF THE ASSESSING OFFICER BE RESTORED. 2 IT A NO. 3279 /MUM/201 4 3. THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUNDS OR ADD A NEW GROUND WHICH MAY BE NECESSARY . 2. AT THE OUTSET, THE LEARNED C OUNSEL APPEARING FOR THE ASSESSEE SUBMITTED THAT THE DISPUTED ADDITION IS APPRO XIMATELY RS. 7,17,807 / - , THEREFORE TAX - EFFECT IS LESS THAN RS. 3 LAKHS AND A CCORDINGLY, THE DEPARTMENTAL APPEAL IS NOT MAINTAINABLE. THE LD. DR ALSO ACCEPTED THAT THE D ISPUTED DEMAND IS LESS THAN RS.3.00 LAKHS. 3. AFTER HEARING BOTH THE PARTIES, WE FIND THA T THE TAX EFFECT ON THE DISPUTED ISSUE IS LESS THAN 3 LAKHS AND ACCORDINGLY, IN VIEW OF CBDT I NSTRUCTION NO. 3 DATED 0 9 .0 2 .201 1 THE APPEAL OF THE REVENUE IS NOT MAINTAINABLE AS THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.3.00 LAKHS. THUS, IN VIEW OF THE A FORESAID ADMITTED POSITION THAT THE TAX EFFECT IS LESS THAN RS. 3 LAKHS, THE APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 4 . IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23.9. 2015. SD SD ( B.R. BASKARAN ) ( LALIT KUMAR ) ACCOUNTANT MEMBER JUDICIAL MEMBER [ MUMBAI, DATED 23.09.2015 PATEL 3 IT A NO. 3279 /MUM/201 4 COPY TO 1 . THE APPELLANT 2 . THE RESPONDENT 3 . THE CIT(A) CONCERNED, MUMBAI 4 . THE CIT - CONCERNED , MUMBAI 5 . THE DR BENCH, SMC 6 . MASTER FILE [[[[[[ // TUE COPY// BY ORDER DY/ASSTT. R EGISTRAR ITAT, MUMBAI