M/s. AA-713, The Kodumudi Growers Co-Operative Bank Ltd., Erode V. ITO, Erode

ITA 618/CHNY/2011

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 4740 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 18-07-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 08-04-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: P B SEKARAN
• Assessee Lawyers: S SRIDHAR ERODE

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI B BENCH, CHENNAI. BEFORE SHRI.U.B.S. BEDI, J.M. & SHRI. ABRAHAM P. GE ORGE, A.M. I.T.A. NO.618/MDS/2011 ASSESSMENT YEAR: 2007-08 M/S. AA-713 THE KODUMUDI GROWERS CO-OPERATIVE BANK LTD., KODUMUDI, ERODE 638 151 [PAN:AAAAK1931H] VS. THE INCOME TAX OFFICER, WARD II(1), ERODE. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI S. SRIDHAR, ERODE REVENUE BY : SHRI P.B. SEKARAN ORDER PER U.B.S. BEDI, J.M. THIS APPEAL OF THE ASSESSEE ARISES FROM THE ORDER PASSED BY THE LD. CIT(A) I, COIMBATORE DATED 08.02.2011 RELEVANT TO T HE ASSESSMENT YEAR 2007- 08, WHEREIN FOLLOWING TWO EFFECTIVE GROUNDS HAVE BE EN RAISED: 2. THE LD. CIT(A) ERRED IN CONSTRUING THAT THE CL AIM OF DEDUCTION U/S. 80P(2) ON ACCOUNT OF INCOME FROM SALE OF CRACKERS A ND ON ACCOUNT OF INCOME FROM PDS ACTIVITIES WERE U/S. 80P(2)(F). 3. THE LD. CIT(A), WHILE UPHOLDING THE STATUS OF T HE APPELLANT CO- OPERATIVE SOCIETY AS CONSUMERS CO-OPERATIVE SOCIE TY IN RESPECT OF ACTIVITIES RELATING TO PDS, ERRED IN NOT CONSIDERIN G THE CLAIM THAT IT FALLS UNDER 80P(2)(A)(I). 2. AT THE VERY OUTSET, THE LD. COUNSEL FOR THE ASS ESSEE WAS FAIR ENOUGH TO STATE THAT THE ISSUES INVOLVED IN THIS APPEAL ARE C OVERED AGAINST THE ASSESSEE BY EARLIER ORDER OF D BENCH OF THE TRIBUNAL IN AS SESSEES OWN CASE IN ITA NO. 220/MDS/08 FOR THE ASSESSMENT YEAR 2005-06 DATED 19 .03.2008 AND BY FILING I.T.A. NO. I.T.A. NO. I.T.A. NO. I.T.A. NO.618 618618 618/ // /MDS/ MDS/ MDS/ MDS/11 1111 11 2 COPY OF THE SAID ORDER, THE ASSESSEES COUNSEL FURT HER SUBMITTED THAT THE APPEAL OF THE ASSESSEE CAN BE DISMISSED AND TO THIS MOVE O F THE LD. COUNSEL FOR THE ASSESSEE, THE LD. DR DID NOT OBJECT. 3. AFTER HAVING HEARD BOTH THE SIDES AND CONSIDERI NG THE MATERIAL ON RECORD, WE FIND THAT THE ISSUE IS COVERED BY EARLIER DECISI ON OF D BENCH OF THE TRIBUNAL IN ASSESSEES OWN CASE IN ITA NO. 220/MDS/08 FOR TH E ASSESSMENT YEAR 2005- 06 DATED 19.03.2008, WHEREIN, BOTH THE ISSUES RAISE D IN THIS APPEAL, WHICH WERE RAISED IN THAT APPEAL, HAVE BEEN DECIDED AGAINST TH E ASSESSEE. THEREFORE, FOLLOWING THE SAID DECISION, WE CONFIRM THE ORDER O F THE LD. CIT(A) AND DISMISS THE APPEAL OF THE ASSESSEE. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMIS SED. ORDER PRONOUNCED SOON AFTER THE CONCLUSION OF HEAR ING ON 18.07.2011. SD/- SD/- (ABRAHAM P. GEORGE) ACCOUNTANT MEMBER (U.B.S. BEDI) JUDICIAL MEMBER CHENNAI, DATED, THE 18.07.2011 VM/- TO:THE ASSESSEE//A.O./CIT(A)/CIT/D.R.