Income Tax Officer-3(4), Lakhimpur-Kheri V. M/s Krishak Sahkari Ganna Vikas Samiti Ltd., Lakhimpur-Kheri

ITA 539/LKW/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 4855 (ITAT-LUCKNOW)
• Duration Of Justice: 5 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-01-2016
• Assessment Year: 2012-2013
• Appeal Filed On: 03-08-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARISH GIDWANI

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.539/LKW/2015 A.Y.:2012-13 I.T.O. 3 (4), LAKHIMPUR KHERI VS. M/S KRISHAK SAHKARI GANNA VIKAS SAMITI LTD., GOLA ROAD, LAKHIMPUR KHERI - 262701. PAN:AAAAK3431E (APPELLANT) (RESPONDENT) ITA NO. 540/LKW/2015 A.Y.:2012-13 I.T.O. 3 (4), LAKHIMPUR KHERI VS. M/S K HERI PILIBHIT SAHKARI GANNA VIKAS SAMITI LTD., SAMPURNA NAGAR, LAKHIMPUR KHERI - 262701. PAN:AAFFK3080K (APPELLANT) (RESPONDENT) APPELLANT BY SHRI HARISH GIDWANI, SR. DR RESPONDENT BY SHRI SHUBHAM RASTOGI, C.A. DATE OF HEARING 06/01/2016 DATE OF PRONOUNCEMENT 14/01/2016 O R D E R PER A. K. GARODIA, A.M. BOTH THESE APPEALS ARE FILED BY THE REVENUE IN TH E CASES OF TWO DIFFERENT ASSESSEES, WHICH ARE DIRECTED AGAINST TWO SEPARATE ORDERS OF LEARNED CIT (OSD) (A) - BAREILLY BOTH DATED 07/05/2 015 FOR ASSESSMENT YEAR 2012-2013. 2. IN BOTH THESE CASES, ONLY ONE ISSUE IS INVOLVED AND THAT IS REGARDING ALLOWABILITY OF DEDUCTION U/S 80P IN RESPECT OF INT EREST EARNED FROM BANKS, POST OFFICE AND ON FDRS RS. 30.85,101 AND RS. 78,70 ,302/- RESPECTIVELY. 2 3. LEARNED D.R. OF THE REVENUE SUPPORTED THE ASSESS MENT ORDER WHEREAS THE LEARNED A.R. OF THE ASSESSEE SUPPORTED THE ORDER OF LEARNED CIT (A). HE ALSO SUBMITTED THAT THIS ISSUE IS COVER ED IN FAVOUR OF THE ASSESSEE BY THE TRIBUNAL ORDER RENDERED IN THE CASE OF ITO VS. M/S SAHKARI GANNA VIKAS SAMITI LTD., PALIA KALAN IN ITA NO. 285 /LKW/2015 DATED 23.06.2015. HE SUBMITTED A COPY OF THIS TRIBUNAL OR DER. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS, PERUSE D THE MATERIAL AVAILABLE ON RECORD AND GONE THROUGH THE ORDERS OF THE AUTHORITIES BELOW. WE FIND THAT THE ONLY ISSUE INVOLVED IN THE PRESENT CASES IS REGARDING ALLOWABILITY OF DEDUCTION U/S 80P IN RESPECT OF INT EREST EARNED FROM BANKS, POST OFFICE AND ON FDRS RS. 30.85,101 AND RS. 78,70 ,302/- RESPECTIVELY AND THIS ISSUE IS COVERED IN FAVOUR OF THE ASSESSEE BY THE TRIBUNAL ORDER RENDERED IN THE CASE OF ITO VS. M/S SAHKARI GANNA VIKAS SAMITI LTD., PALIA KALAN (SUPRA). LEARNED CIT (A) HAS ALSO DECIDED THI S ISSUE IN FAVOUR OF THE ASSESSEE BY FOLLOWING TWO DIFFERENT TRIBUNAL ORDERS . LEARNED DR OF THE REVENUE COULD NOT POINT OUT ANY DIFFERENCE IN FACTS . HENCE, WE DECLINE TO INTERFERE IN THESE TWO ORDERS OF LEARNED CIT (A). 5. IN THE RESULT, BOTH THESE APPEALS OF THE REVENUE ARE DISMISSED. (ORDER WAS PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE) SD/. SD/. (SUNIL KUMAR YADAV) ( A. K. GARODIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED:14/01/2016 *SINGH D COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. CONCERNED CIT 4. THE CIT(A) 5. D.R., I.T.A.T., LUCKNOW ASSTT. REGISTRAR