ACIT, Hazaribagh V. Agricultural Produce Market Committee, Hazaribagh

ITA 79/RAN/2012

• Counselvise Citation: [2013] 140 COUNSELVISE.COM (IT) 67347 (ITAT-RANCHI)
• Duration Of Justice: 10 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-05-2013
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2004-2005
• Appeal Filed On: 13-06-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SHIKESH JHA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI CIRCUI T BENCH, RANCHI (BEFORE SHRI P.K.BANSAL, HONBLE A.M.& SHR I D,T. GARASIA, HONBLE J.M.) I.T.A. NO. 79 /RAN/2012 : ASSESSMEN T YEAR : 2004-05 ACIT, CIRCLE-2, HAZARIBAGH -VS- AGRICULTURA L PRODUCE MARKET COMMITTEE, HAZARIBAGH (APPELLANT) (RESPO NDENT) APPELLANT BY : SHRI RAJIV KUMAR, D.R. RESPONDENT BY : SHRI SHIKESH JHA, ADVOCATE DATE OF CONCLUDING THE HEARING : 06.05.2013 DATE OF PRONOUNCING THE ORDER : 07.05.2013 O R D E R PER BENCH : THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT(A), JAMSHEDPUR DATED 27.03.2012 FOR THE ASSESSMENT YEAR 2004-05. 2. THE ONLY ISSUED INVOLVED IN THIS APPEAL RELATES TO THE FILING OF THE FORM NO.10 BY THE ASSESSEE ALONG WITH THE RETURN BEFORE THE EXPIRY OF THE TIME ALLOWED UNDER SECTION 139(1). THE ASSESSING OFFICER SINCE N OTED THAT THE ASSESSEE DID NOT FILE FORM NO.10 ALONG WITH THE RETURN FILED UNDER S ECTION 139(1) FOR THE ACCUMULATION OF THE UNUTILIZED INCOME, DID NOT ALLO W EXEMPTION TO THE ASSESSEE UNDER SECTION 11(2) OF THE I.T. ACT. THE ASSESSEE W ENT IN APPEAL BEFORE THE CIT(A). THE CIT(A), FOLLOWING THE DECISION OF THE H ONBLE SUPREME COURT IN THE CASE OF CIT-VS- NAGPUR HOTEL OWNERS ASSOCIATION 24 7 ITR 201 (SC), GAVE A FINDING THAT THE RETURN OF INCOME ALONG WITH THE FO RM NO.10 WAS FILED ON 09.05.2005 I.E. BEFORE THE COMPLETION OF THE ASSESS MENT ON 24.12.2009 AND THEREFORE ALLOWED THE EXEMPTION TO THE ASSESSEE. 2 3. WE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. IN OUR OPINION, THIS ISSUE IS NO MORE RES INTEGRA , IN VIEW OF THE DECISION OF THE HONBLE SUPREME COURT IN THE CASE OF THE CIT V S- NAGPUR HOTEL OWNERS ASSOCIATION ( SUPRA ). IN VIEW OF THIS, WE DO NOT FIND ANY ILLEGALITY O R INFIRMITY IN THE ORDER OF THE CIT(A). ACCORDINGLY, THE APPEAL FI LED BY THE REVENUE STANDS DISMISSED. 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE S TANDS DISMISSED. ORDER PRONOUNCED IN THE COURT ON 7 TH MAY 2013. SD/- SD/- [D.T.GARASIA] [P.K.BANSAL] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 7 TH MAY, 2013 COPY OF ORDER FORWARDED TO : 1. AGRICULTURAL PRODUCE MARKET COMMITTEE, HAZARIBAGH 2. ACIT, CIRCLE-2, HAZARIBAGH 3. C.I.T.(A), 4. THE C.I.T., RANCHI 5. THE D.R., I.T.A.T., TRUE COPY, BY ORDER, SR. PRIVATE SECRETARY, ITAT, RANCHI [MST, SR.PS]