Tulsiani Chambers Premises Cooperative Society Ltd, Nariman point V. WD 17(3) (4), MUMBAI

MA 109/MUM/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3699 (ITAT-MUMBAI)
• Duration Of Justice: 1 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 29-06-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2017-2018
• Appeal Filed On: 18-05-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 80P

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI. BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI AMARJIT SINGH, ACCOUNTANT MEMBER MA Nos. 109 & 110/Mum/2022 (A.Ys 2017-18, & 2016-17) (in ITA Nos. 2459 & 2460/Mum/2021) Tulsiani Chamber s Premises Co-op Soc. Ltd 212 , Nari man Po in t, Free Pres s Journal Marg, Mu mbai – 400021. बनाम/ Vs. ITO-Ward 1 7(3)(4 ) Roo m No . 130, 1 s t Floor, Kau tilya Bhavan, G Block Ban dra Kurla Complex, Mu mbai – 400051. ./ज आइआर ./PAN/GI R No. : AAAAT88 90N ( /Appellant) . . ( / Respondent) र / Appellant by : Shri. Manoj Raghani.AR र /Respondent by : Shri.Dharmvir Yadav.DR र / D a t e o f H e a r i n g 24/06/2022 !"# र /D a t e o f P r o n o u n c e m e n t 30/06/2022 आद श / O R D E R PER PAVAN KUMAR GADALE - JM: The assessee has filed these two Miscellaneous Applications (M.A) seeking the amendment/rectification in the consolidated order of the Hon’ble Tribunal in ITA Nos. 2459 /Mum/2021 for A.Y 2017-18 &ITA no. 2460/Mum/2021 for 2016-17 dated 18.04.2022. Since the issues involved in these M.A are similar and identical, MA Nos. 109 &110 /Mum/2022 Tulsiani Chambers Premises Co.Op Cocieaty Ltd, Mumbai. - 2 - hence are clubbed, heard and consolidated order is passed. For the sake of convenience we shall take up ITA No. 109/Mum/2022 for the A.Y 2017-18 as lead case and facts narrated. 2. At the time of hearing the Ld. AR submitted that the Hon’ble Tribunal has not disposed off the ground of appeal referred at Para 2 as under: 2. On the f acts and in the circumstances of the case, the AO was not justified in not allo wing deduction of Rs. 50,000/- u/s 80P(2)(c) of the Act. 3. The contentions of the Ld. AR are that the Assessing officer (A.O.) should grant the statutory deduction u/s 80P(2)(c) of the Act which is available to cooperative societies. The Ld. DR supported the order of the Tribunal and mentioned that the deduction has to be allowed irrespective of the facts in dispute by the Assessing officer to the assessee. Further there is no necessity for rectifying the order of the Honble Tribunal. MA Nos. 109 &110 /Mum/2022 Tulsiani Chambers Premises Co.Op Cocieaty Ltd, Mumbai. - 3 - 4. We heard the rival submissions and perused the material on record. The sole disputed issue as envisaged by the Ld. AR that the Honble Tribunal has not disposed of the ground of appeal with respect to allowing deduction u/s 80P(2)(c) of the Act of Rs. 50,000/- while the order is passed. Whereas the Hon’ble Tribunal has considered the facts and provisions of Act. We find, it is appropriate to refer to the provisions of Sec. 80P (2)(c) of the Act, which is read as under: Deduction in respect of income of Co-operative societies. Section 80P(1)................ of the assessee. 80P(2) The sums refered to in sub-section(1) shall be the fallowing namely:- (a) in the case of a cooperative society engaged in- (b) in the case of cooperative society being a primary society ............members to (c) in the case of a co-operative society engaged in activities other than those specified in clause (a) or clause(b) [either independently of, or in addition to, all or any of the activities so specified], so much of its profits and gains attributable to such activities as does not exceed 1 [fifty thousand rupees]; (i) where such cooperative society is a consumers cooperative society, [one hundred] thousand rupees. (ii) in any other case, [fifty ] thousand rupees. MA Nos. 109 &110 /Mum/2022 Tulsiani Chambers Premises Co.Op Cocieaty Ltd, Mumbai. - 4 - Explanation – In this clause, consumers cooperative socie4ty means a society for the benefit of the consumers. 5. We find the provisions of the Act are very clear, that in the case of cooperative society other than mentioned in clause (a) & (b) as per section 80P C(2) of the Act is eligible for deduction of Rs.50,000/- from the profit and gains attributable to such activities. We are of the opinion that in the case of the Cooperative society as discussed above the Assessing officer should allow deduction u/s 80P(2)(c) of the Act and there is no necessity to direct for allowing the deduction and section 80P(2)(c) of the Act is self explanatory. 6. We find there are no merits in the miscellaneous application filed by the assessee for directions to the assessing officer for grant of deduction. It is clear that the cooperative societies as defined u/s 80P(2)(c) of the Act are eligible for deduction of Rs. 50,000/- while assessing/computing the total income. Accordingly the miscellaneous application cannot stand on merits and is dismissed. MA Nos. 109 &110 /Mum/2022 Tulsiani Chambers Premises Co.Op Cocieaty Ltd, Mumbai. - 5 - MA No. 110/Mum/2022, A.Y 2016-17 7. As the facts and circumstances in this MA are identical to MA No. 109/Mum/2022, for A.Y 2017-18, the decision rendered in above paragraphs would apply mutatis mutandis for this case also. Accordingly, the miscellaneous application is dismissed. 8. In the result, both the MAs filed by the assessee are dismissed. Order pronounced in the open court on 30.06.2022. Sd/- Sd/- (AMARJIT SINGH) (PAVAN KUMAR GADALE ) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated 30.06.2022 KRK, PS /Copy of the Order forwarded to : 1. / The Appellant 2. / The Respondent. 3. & '( आ र आ ) / The CIT(A) 4. आ र आ ) ( ) / Concerned CIT 5. , - . / / '(, आ र '( र#, हमद & द / DR, ITAT, Mumbai 6. . 34 5 / Guard file. ान ु सार/ BY ORDER, MA Nos. 109 &110 /Mum/2022 Tulsiani Chambers Premises Co.Op Cocieaty Ltd, Mumbai. - 6 - , / //True Copy// 1. उ /सहाय ंजी ार ( Asst. Registrar) य र ी य !" र#, हम ाबा / ITAT, Mumbai