ITO 27(2)(3), NAVI MUMBAI V. MUMBAI TELEWORKERS CO OP CREIT SOCIETY, MUMBAI

ITA 920/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3924 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-08-2016
• Appeal Filed By: Department
• Bench Allotted: SMC
• Next Hearing Date: 04-08-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 10-02-2015
• Court: TRIBUNAL
• Department Lawyers: A RAMACHANDRAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) I.T.A. NO. 920 /MUM/ 20 1 5 (ASSESSMENT YEAR 20 1 0 - 11 ) ITO 27(2)(3) ROOM NO. 408, 4 TH FLOOR TOWER NO. 6 VASHI RAILWAY STATION COMPLEX,VASHI NAVI MUMBAI - 400 703. VS. MU MBAI TELEWORKERS CO - OP. CREDIT SOCIETY C/O. TELECOME FACTORY DEONAR MUMBAI - 400 088. ( APPELLANT ) ( RESPONDENT ) PAN NO . AAAAM3176C ASSESSEE BY NONE DEPARTMENT BY SHRI A. RAMACHANDRAN DATE OF HEARING 4 .8. 201 6 DATE OF PRONOUNCEMENT 4 . 8 . 201 6 O R D E R THE APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER DATED 19.12.2014 PASSED BY LEARNED CIT(A) - 25, MUMBAI AND IT RELATES TO A.Y. 2010 - 11. 2. THE REVENUE IS AGGRIEVED BY THE DECISION OF LEARNED CIT(A) IN HOLDING THAT PROVISIONS OF SECTION 80P(4) IS NOT APPLICABLE TO THE ASSESSEE AND HENCE DEDUCTION PRESCRIBED U/S.80P(2) OF THE ACT IS AVAILABLE TO THE ASSESSEE. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE AND HENCE I PROCEED TO DECIDE THE APPEAL OF THE REVENUE EX - PARTE, WITHOUT PRESEN CE OF THE ASSESSEE. 4. I HAVE HEARD LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE RECORD. THE ASSESSEE IS A CO - OPERATIVE CREDIT SOCIETY AND DURING THE YEAR UNDER CONSIDERATION IT DECLARED NIL INCOME AFTER CLAIMING DEDUCTION OF ` 32,85,658/ - U/S. 80P (2)(A) OF THE ACT. THE ASSESSING OFFICER TOOK THE VIEW THAT THE ASSESSEE SHOULD BE CONSIDERED AS COOPERATIVE BANK AND HENCE DEDUCTION U/S. 80P(2) MUMBAI TELEWORKERS COOPERATIVE CREDIT SOCIETY 2 WILL NOT BE AVAILABLE TO THE ASSESSEE , IN VIEW OF THE PROVISIONS OF SECTION 80P(4) OF THE ACT. LEARNED CIT(A) NOTICED THAT THE TRIBUNAL HAS ALLOWED CLAIM OF THE ASSESSEE IN A.Y. 2009 - 10 IN ITA NO. 7106/MUM/2012, VIDE ITS ORDER DATED 30.6.2014. LEARNED CIT(A) ALSO NOTICED THAT HON'BLE GUJARAT HIGH COURT HAS HELD IN THE CASE OF CIT VS. JAFARI MOMIN VIKAS CO - OPERATI VE CREDIT SOCIETY LTD. (TAX APPEAL NO. 442,443 & 863 OF 2013 DATED 15.1.2014) THAT PROVISIONS OF SECTION 80P(4) WOULD NOT APPLY TO THE CREDIT COOPERATIVE SOCIETY. ACCORDINGLY, LEARNED CIT(A) ALLOWED THE APPEAL OF THE ASSESSEE. AGGRIEVED, THE REVENUE HAS FI LED THIS APPEAL BEFORE THE TRIBUNAL. 5. LEARNED DEPARTMENTAL REPRESENTATIVE PLACED RELIANCE ON THE ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER. 6. SINCE COORDINATE BENCH OF THE TRIBUNAL HAS HELD THAT THE ASSESSEE IS ELIGIBLE FOR DEDUCTION U/S.8 0P(2) OF THE ACT IN AY 2009 - 10 (SUPRA) AND SINCE DECISION RENDERED BY THE LEARNED CIT(A) IS IN ACCORDANCE WITH THE DECISION TAKEN BY THE TRIBUNAL IN A.Y. 2009 - 10, I DO NOT FIND ANY REASON TO INTERFERE IN THE ORDER PASSED BY LEARNED CIT(A). ACCORDINGLY, WE UPHOLD THE ORDER PASSED BY LEARNED CIT(A). 6. IN THE RESULT, APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 4. 8 .2016 SD/ - (B.R.BASKARAN) ACCOUNTANT MEMBER MUMBAI ; DATED : 4 / 8 / 20 1 6 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRA R) PS ITAT, MUMBAI