The ITO, Ward-15(4), Ahmedabad V. Shri Rohitkumar Kantilal Bhatt, Ahmedabad

ITA 969/AHD/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 6676 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 05-05-2011
• Assessment Year: 2008-2009
• Appeal Filed On: 31-03-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S A BOHRA
• Keywords: Question of law

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCH A AHMEDABAD BEFORE SHRI D.K. TYAGI, HONBLE JUDICIAL MEMBER AND SHRI A.K.GARODIA, HONBLE ACCOUNTANT MEMBER ITA NO.969/AHD/2010 ASSESSMENT YEAR:2008-09 DATE OF HEARING:5.5.11 DRAFTED:6.5.11 INCOME TAX OFFICER WARD-15(4), AHMEDABAD, 7 TH FLOOR, NATURE VIEW BUILDING, ASHRAM ROAD, AHMEDABAD V/S. SHRI ROHITKUMAR KANTILAL BHATT, 17, PRABHA KUTIR, MADHUVAN BUNGALOWS, B/H PRESTIGE BUNGALOWS, GHOSASAR, AHMEDABAD PAN NO.ACTPB5179J (APPELLANT) .. (RESPONDENT) APPELLANT BY :- SHRI S.A. BOHRA, DR RESPONDENT BY:- NONE O R D E R PER D.K. TYAGI, JUDICIAL MEMBER:- THIS IS REVENUES APPEAL AGAINST THE ORDER OF COMM ISSIONER OF INCOME- TAX(APPEALS)-XXI, AHMEDABAD IN APPEAL NO. CIT(A)-XX I/177/WD.15(4)/2009-10 DATED 25-01-2010 FOR THE ASSESSMENT YEAR 2008-09. 2. THE REVENUE HAS TAKEN FOLLOWING GROUND:- 1. THE LEARNED CIT(A) HAS ERRED IN LAW AND N FACTS INS DELETING THE ADDITION OF RS.5,00,000/- U/S/10(10C) OF THE I.T. ACT RELYING O N THE DECISION BASED ON THE DECISION OF MUMBAI ITAT IN THE CASE OF VAISHALI A S HELAR IN WHICH IT IS HELD THAT THE CLAIM U/S.10(10C) OF THE I.T. ACT IN RESPE CT OF OERS SCHEME OF THE RBI IS ALLOWABLE. 2. THE DECISION QUOTED BY THE LD. CIT(A) DOES NOT F ALL INTO THE FOUR CORNERS OF THIS CASE AS SIT PERTAINS TO OERS SCHEME OF RBI AND NOT STATE BANK OF PATIALAL OR STATE BANK OF INDIA. ITA 969/AHD/2010 A.Y . 2008-09 ITO WD-15(4) ABD V. SH ROHITKUMAR K BHATT PAGE 2 3. THE LD. CIT(A) HAS DELETED THE ADDITION BASED ON THE DECISION OF HONBLE ITAT, AHMEDABAD AND HAS IGNORED THE CIRCULAR NO.F.NO.200/34/2009 -ITA.I DATED D6.10.2009 OF CBDT ACCORDING TO WHICH EMPLOYE ES OF STATE BANK OF PATIALA AND STATE BANK OF INDIA ARE NOT ELIGIBLE FO R DEDUCTION U/S.10(10C) OF THE INCOME-TAX ACT,1961. 3. THE BRIEF FACTS OF THE CASE ARE THAT ASSESSEE WA S AN EMPLOYEE OF STATE BANK OF INDIA HAD FILED RETURN OF INCOME FOR ASSESSMENT YEAR 2008-09 DECLARING TOTAL INCOME OF RS.86,120/-. THE ASSESSING OFFICER NOTICE D THAT THE ASSESSEE HAD OPTED FOR EARLY RETIREMENT ON 30-04-2007 AND CLAIMED EXEM PTION U/S.10(10C) AMOUNTING TO RS.5 LAKH. THE EXEMPTION OF RS.5 LAKH U/S.10(10C ) IS AVAILABLE IF THE VOLUNTARY RETIREMENT SCHEME SATISFIES THE GUIDELINES LAID DOW N IN RULE 2BA OF THE INCOME-TAX RULES, 1962 THE AO ISSUED NOTICE U/S.148 OF THE ACT AND ASSESSEE FILED RETURN OF INCOME ON 08-01-2010 DECLARING TOTAL INCOME OF RS. 86,120/-. THE ASSESSMENT WAS COMPLETED DETERMINING ASSESSEES INCOME AT RS.5,86, 120/-. 4. AGGRIEVED BY THIS ORDER OF ASSESSING OFFICER ASS ESSEE WENT IN APPEAL BEFORE LD. CIT(A). THE LD. CIT(A) DELETED THIS ADDITION BY OBSERVING AS UNDER:- I HAVE CONSIDERED THE FACTS OF THE CASE, ASSESSING OFFICERS FINDINGS AND OBSERVATIONS IN THE ASSESSMENT ORDER AND DETAILED S UBMISSION MADE BY THE APPELLANT ALONG WITH VARIOUS DECISIONS OF ITATS, HI GH COURTS AND APEX COURT. THE INCOME-TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH A IN THE CASE OF SMT. JAYA NARAYANAN AND OTHERS VS. ACIT, CIRCLE-15, AHME DABAD IN ITA NO.1209/AHD/2007 AND OTHERS HAS PASSED ORDER IN FAVOUR OF THE APPEL LANT FOLLOWING THE CLAIM OF EXEMPTION U/S.10(10C) OF THE ACT. I HAVE GONE THROUGH THE ORDER OF THE ASSESSING OFFICER AND THE ORDER OF THE HONBLE INCOME-TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH A WITH REGARD TO THE CLAIM OF EXEMPTION U/S10(10C) OF THE ACT. THE ITAT HAS OBSER VED AS UNDER:- WE FIND THAT ITAT, MUMBAI BENCH IN A GROUP OF IDEN TICAL MATTERS IN ITA NOS.6384/MUM/2006 AND OTHERS, IN THE CASE OF VAISHA LI A. SHELAR AND OTHERS, VIDE ORDER DATED 28.03.2007 DISPOSED OF ALL THE APPEALS INVOLVING SIMILAR QUESTION OF LAW AND FACTS I.E. EX EMPTION AMOUNT RECEIVED ON OERS U/S.10(10C) IN FAVOUR OF THE ASSES SEE. THE VIEW OF MUMBAI BENCHES HAS BEEN FOLLOWED BY CHENNAI BENCH I N CONSOLIDATED ORDER IN ITA NO.471/MDS/06 AND OTHERS DATED 30/.04. 2007 IN WHICH SIMILAR ISSUES ABOUT OERS BEING EXEMPT U/S.10(10C) HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE. IN THE CASE OF THE APPELLANT, THE FACTS ARE IDENTIC AL, I RESPECTFULLY FOLLOW THE DECISION OF HONBLE ITAT AHMEDABAD A BENCH AND GR ANT THE RELIEF TO THE APPELLANT WITH A DIRECTION TO THE ASSESSING OFFICER TO ALLOW THE EXEMPTION U/S.10(10C) OF THE ACT FOR RS.5,00,000/-. ITA 969/AHD/2010 A.Y . 2008-09 ITO WD-15(4) ABD V. SH ROHITKUMAR K BHATT PAGE 3 SINCE THE LD. CIT(A) HAS GIVEN RELIEF TO THE ASSESS EE BY FOLLOWING DECISION OF ITAT AHMEDABAD BENCH A IN THE CASE OF SMT. JAYA NARAYANAN AND OTHERS (SUPRA) IN ITA NO.1209/AHD/2007 WE FIND NO INFIRMITY IN THE ORDER PASSED BY LD. CI T(A) AND SAME IS HEREBY UPHELD. 5. IN THE RESULT, REVENUES APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 05/05/2011 SD/- SD/- (A.K.GARODIA) (D.K. TY AGI) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) AHMEDABAD, DATED : 05/05/2011 *DKP COPY OF THE ORDER FORWARDED TO :- 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT(APPEALS)- 4. THE CIT CONCERNS. 5. THE DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER, /TRUE COPY/ DEPUTY / ASSTT.REGISTRAR ITAT, AHMEDABAD