ACIT, Jaipur V. THE RAJASTHAN STATE CO-OPERATIVE BANK LTD., Jaipur

ITA 971/JPR/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9711 (ITAT-JAIPUR)
• Duration Of Justice: 3 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-02-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 07-11-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R A VERMA
• Assessee Lawyers: RAJNI KANT BHATRA CA DHK
• Keywords: Business expenditure

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH HKKXPAN] YS[KK LNL; ,OA JH DQY HKKJR ] U;KF;D LNL; DS LE{K BEFORE: SHRI BHAGCHAND, AM & SHRI KUL BHARAT, JM VK;DJ VIHY LA-@ ITA NO. 971/JP/2016 FU/KZKJ.K O'K Z@ ASSESSMENT YEAR : 2013-14. ASTT. COMMISSIONER OF INCOME-TAX, CIRCLE-6, JAIPUR. CUKE VS. THE RAJASTHAN STATE CO- OPERATIVE BANK LTD., APEX BANK BUILDING, DC-1, LAL KOTHI, TONK ROAD,, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AAAAT 0824 G VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT JKTLO DH VKSJ LS@ REVENUE BY : SHRI R.A. VERMA (ADDL. CIT) FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI RAJNI KANT BHATRA (CA) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 23/02/2017 MN?KKS'K.KK DH RKJH[K @ DATE OF PRONOUNCEMENT : 27/02/2017 VKNS'K@ ORDER PER SHRI KUL BHARAT, J.M. THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A)-2, JAIPUR DATED 24.08.2016 PERTAINING TO A.Y. 2013-14. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL :- 1. WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES O F THE CASE AND IN LAW, LD. CIT (APPEALS) HAS ERRED IN DELETING THE ADDITION OF RS. 66,90,540/- MADE BY THE AO BY DISAL LOWING THE CONTRIBUTION TO PRIMARY AGRICULTURE CREDIT CO-O PERATIVE SOCIETY (PACS) DEVELOPMENT FUND BEING NON BUSINESS EXPENDITURE. 2 ITA NO. 971/JP/2016 THE RAJASTHAN STATE COOPERATIVE BANK LTD. 2. THE APPELLANT CRAVES ITS RIGHTS TO ADD, AMEND OR ALTER ANY OF THE GROUNDS ON OR BEFORE THE HEARING. 2. GROUND NO. 2 IS GENERAL IN NATURE AND NEEDS NO A DJUDICATION. 3. GROUND NO. 1 IS AGAINST DELETION OF ADDITION OF RS. 66,90,540/- ON ACCOUNT OF DISALLOWANCE OF CONTRIBUTION TO PRIMARY AGRICULTURE CREDIT CO- OPERATIVE SOCIETY (PACS) DEVELOPMENT FUND BEING NON BUSINESS EXPENDITURE. 4. BRIEFLY STATED THE FACTS ARE THAT THE AO WHILE F RAMING THE ASSESSMENT MADE ADDITION OF RS. 66,90,540/- ON ACCOUNT OF DISA LLOWANCE OF CONTRIBUTION TO PACS DEVELOPMENT FUND. ON FURTHER APPEAL TO THE LD. CIT (A), DELETED THE ADDITION FOLLOWING THE DECISIONS OF THE COORDINATE BENCH IN THE ASSESSEES OWN CASES IN ITA NOS. 1077/JP/2010 AND 1022/JP/2011 PER TAINING TO ASSESSMENT YEARS 2007-08 AND 2008-09 AND FURTHER ITA NO. 967/J P/2013 PERTAINING TO ASSESSMENT YEAR 2010-11. AGGRIEVED BY THIS, THE RE VENUE IS IN APPEAL BEFORE THIS TRIBUNAL. 5. THE LD. D/R SUPPORTED THE ASSESSMENT ORDER. 6. ON THE CONTRARY, THE LD. COUNSEL FOR THE ASSESSE E REITERATED THE SUBMISSIONS AS MADE IN THE WRITTEN BRIEF. HE SUBMIT TED THAT THE ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE D ECISIONS OF THE TRIBUNAL IN THE CASE OF ASSESSEE PERTAINING THE EARLIER ASSESSM ENT YEARS. HE PLACED RELIANCE ON THE DECISION OF THE LD. CIT (A). 3 ITA NO. 971/JP/2016 THE RAJASTHAN STATE COOPERATIVE BANK LTD. 7. WE HAVE HEARD RIVAL CONTENTIONS, PERUSED THE MAT ERIAL ON RECORD AND GONE THROUGH THE ORDERS OF THE LOWER AUTHORITIES. THE LD. CIT (A) DELETED THE ADDITION BY OBSERVING AS UNDER :- 2.3. I HAVE PERUSED THE FACTS OF THE CASE AND THE SUBMISSIONS OF THE APPELLANT. THE AUTHORIZED REPRESENTATIVE OF THE ASSESSEE FILED A COPY OF THE ORDER OF THE HONBLE ITAT JAIPU R BENCH IN THE ASSESSEES OWN CASE FOR ASSESSMENT YEAR 2011-12 & 2 012-13 AGAINST THE ORDER UNDER SECTION 143(3). VIDE THIS A PPEAL ORDER DATED 17.06.2016 (ITA NO. 998 & 999/JP/2015), THE H ONBLE ITAT HAS REJECTED THE REVENUES APPEAL OBSERVING AS UNDE R :- 4.2. WE HAVE HEARD RIVAL CONTENTIONS AND PERUSED T HE MATERIAL AVAILABLE ON RECORD. WE FIND THAT THE LD. CIT (A) HAS FOLLOWED THE DECISIONS OF THE COORDINATE BENCH OF THE TRIBUNAL PERTAINING TO EARLIER ASSESSMENT YEAR I.E. 2007-08 & 2008-09 IN ITA NOS. 1277/JP/2010 AND 1022/JP/2011 . THE COORDINATE BENCH IN A.Y. 2010-11 IN ITA NO. 967/JP/2013 IN PARA 5 FOLLOWING THE EARLIER DECISIO N OF THE COORDINATE BENCH DECIDED THE ISSUE AGAINST THE ASSE SSEE. THERE IS NO CHANGE IN THE FACTS AND CIRCUMSTANCES I N THE YEAR UNDER APPEAL. THEREFORE, WE DO NOT SEE ANY REA SON TO INTERFERE INTO THE ORDER OF LD. CIT (A), WHICH IS H EREBY UPHELD. THE GROUND NO. (1) IN BOTH THE APPEAL OF TH E REVENUE IS REJECTED. THE ABOVE FINDING OF LD. CIT (A) IS NOT CONTROVERTE D BY THE REVENUE. NO CONTRARY BINDING JUDGMENT OF HONBLE JURISDICTIONAL HIGH COURT OR HONBLE SUPREME COURT IS BROUGHT TO OUR NOTICE, THEREFORE, TAKING A CONSISTENT VIEW AS TAKEN BY THE COORDINATE BENCH IN ITA NOS. 1077/JP/2 010 AND 1022/JP/2011 PERTAINING TO ASSESSMENT YEARS 2007-08 AND 2008-09 AND FURTHER ITA NO. 4 ITA NO. 971/JP/2016 THE RAJASTHAN STATE COOPERATIVE BANK LTD. 967/JP/2013 PERTAINING TO ASSESSMENT YEAR 2010-11, WE REJECT THIS GROUND OF THE REVENUE. APPEAL OF THE REVENUE IS DISMISSED. 8. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ORDER PRONOUNCED IN THE OPEN COURT ON 27/02/2 017. SD/- SD/- HKKXPAN DQY HKKJR (BHAGCHAND) (KUL BHARAT) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 27/02/2017. D/ VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- THE ACIT, CIRCLE-6, JAIPUR. 2. IZR;FKHZ @ THE RESPONDENT- THE RAJASTHAN STATE CO-OPERATIVE BA NK LTD., JAIPUR. 3. VK;DJ VK;QDR @ CIT 4. VK;DJ VK;QDRVIHY @ THE CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ @ DR, ITAT, JAIPUR 6. XKMZ QKBZY @ GUARD FILE (ITA NO. 971/JP/2016) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR