Income Tax Officer-3(5), Lakhimpur-Kheri V. M/s Sehkari Ganna Vikas Samiti Ltd, Lakhimpur-Kheri

ITA 525/LKW/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4752 (ITAT-LUCKNOW)
• Duration Of Justice: 6 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 20-01-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 23-07-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K R RASTOGI

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH B, LUCKNOW BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA NO.525/LKW/2015 ASSESSMENT YEAR 2009-10 M/S SEHKARI GANNA VIKAS SAMITI LTD. PALIA KALARI, LAKHIMPUR KHERI VS. INCOME TAX OFFICER 3(5), LAKHIMPUR KHEERI-2 PAN AADTS 7551 B (RESPONDENT) (APPELLANT) SHRI AMIT NIGAM, DR APPELLANT BY SHRI K.R. RASTOGI, CA RESPONDENT BY 20 /01/2016 DATE OF HEARING 04 /0 2 /2016 DATE OF PRONOUNCEMENT O R D E R PER SUNIL KUMAR YADAV, JM. 1. THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(OSD)(A) BAREILLY, ON A SOLITARY GROUND THAT THE CIT(A) HAS ERRED IN ALLOWING THE DEDUCTION CLAIMED U/S 80P (2) OF THE ACT, ON INTERE ST EARNED BY THE ASSESSEE FROM BANKS AND POST OFFICE ON FDRS. 2. DURING THE COURSE OF HEARING, LD. COUNSEL FOR TH E ASSESSEE HAS INVITED OUR ATTENTION THAT THE IMPUGNED ISSUE IS SQUARELY COVER ED BY THE ORDER OF THE TRIBUNAL IN THE CASE OF ITO VS. M/S SAHKARI GANNA VIKAS SAMITI LTD. IN ITA NOS. 285/LKW/2015 AND 539/LKW/2015, COPIES OF THE SAME ARE PLACED ON RECORD. 3. LD. AR OF THE ASSESSEE HA SIMPLY PLACED RELIANCE UPON THE ORDER OF THE CIT(A). 2 4. HAVING CAREFULLY EXAMINED THE ORDER OR LOWER AU THORITIES AND THE ORDER OF THE TRIBUNAL, WE FIND THAT THE IMPUGNED ISSUE IS SQUARE LY COVERED BY THE AFORESAID ORDER OF THE TRIBUNAL. THE RELEVANT OBSERVATION OF THE TR IBUNAL IS EXTRACTED AS UNDER, FOR THE SAKE OF REFERENCE:- HAVING CAREFULLY EXAMINED THE ORDERS OF THE LOWER AUTHORITIES IN THE LIGHT OF THE RIVAL SUBMISSIONS, WE FIND THAT THE IS SUE OF DEDUCTION UNDER SECTION SOP OF THE ACT ON INTEREST ON FDR FROM BANK S AND POST OFFICE WAS EXAMINED BY THE TRIBUNAL IN THE CASE OF INCOME TAX OFFICER, HARDOI VS. ZILA GANNA UTPADAK SAHKARI SAMITI LTD., HARDOI AND INCOME TAX OFFICER, HARDOI VS, SAHKARI GANNA VIKAS SAMITI LTD. , HARDOI (SUPRA) AND THE ID. CIT(A) HAS FOLLOWED THE SAID ORDERS WHILE H OLDING THAT DEDUCTION UNDER SECTION SOP OF THE ACT IS ALLOWABLE TO THE AS SESSEE ON THE INTEREST ON FDRS FROM BANKS AND POST OFFICE. COPIES OF THE O RDERS OF THE TRIBUNAL ARE PLACED ON RECORD. WE HAVE ALSO BEEN CARRIED THR OUGH ANOTHER ORDER OF THE TRIBUNAL IN THE CASE OF INCOME TAX OFFICER-I I, SHAHJAHANPUR VS. ROZA SAHKARI GANNA SAMITI LTD., SHAHJAHANPUR IN L.T .A. NO. 499/LKW/2013 IN WHICH SIMILAR VIEW WAS TAKEN BY THE TRIBUNAL. SINCE THE ID. CIT(A) HAS ADJUDICATED THE ISSUE FOLLOWING THE ORDER OF THE TRIBUNAL IN THE AFORESAID CASES, WE FIND NO INFIRMI TY IN HIS ORDER. WE ACCORDINGLY CONFIRM THE ORDER OF THE LD. CIT(A). 5. SINCE THE IMPUGNED ISSUE IS SQUARELY COVERED BY THE ORDER OF THE TRIBUNAL, WE FIND NO JUSTIFICATION TO TAKE A CONTRARY VIEW IN TH IS APPEAL. ACCORDINGLY, WE CONFIRM THE ORDER OF THE LD. CIT(A) IN THIS REGARD. 6. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. SD/- SD/- [A. K. GARODIA] [SUNIL KUMAR YADAV] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 4 TH FEBRUARY, 2016 AKS COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR ASSISTANT REGISTRAR