Income Tax Officer, Haveri V. M/s.Aishwarya Mahila Credit Co-op Society Ltd., Haveri

MA 238/BANG/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5958 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-12-2017
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 13-10-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PADMA MEENAKSHI JT BENGALURU
• Assessee Lawyers: SACHIN PATIL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC B BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER MP NO.238 BANG/2017 [IN ITA NO. 140/BANG/2017] ASSESSMENT YEAR : 20 12 - 13 THE INCOME TAX OFFICER, WARD 2, HAVERI. VS. M/S. AISHWARYA MAHILA CREDIT CO-OPERATIVE SOCIETY LTD., HIGH SCHOOL ROAD, HAVERI. PAN : AAAAA 2241E APPLIC ANT RESPONDENT APPLICA NT BY : SMT. PADMA MEENAKSHI, JT .CIT(DR)(ITAT), BENGALURU RESPONDENT BY : SHRI SACHIN PATIL, CA DATE OF HEARING : 24.11. 2017 DATE OF PRONOUNCEMENT : 15 .12.2017 O R D E R THIS MISCELLANEOUS PETITION IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF THE TRIBUNAL DATED 26.05.2017 ON THE GROUN D THAT THE TRIBUNAL HAS DISPOSED OF THE APPEAL, FOLLOWING THE JUDGMENT OF T HE JURISDICTIONAL HIGH COURT IN THE CASE OF TUMKUR MERCHANTS SOUHARDA CREDIT COOPERATIVE LTD. V. ITO WITHOUT TAKING INTO THE ACCOUNT THE JUDGMENT OF THE HONBLE APEX COURT IN THE CASE OF THE CITIZEN CO-OPERATIVE SOCIETY LTD., HYDERABAD V. ACIT IN CIVIL APPEAL NO.10245 OF 2017 DATED 08.08.2 017, IN WHICH THE MATTER WAS RESTORED BACK TO THE ASSESSING OFFICER T O VERIFY WHETHER CREDIT MP NO.238/BANG/2017 PAGE 2 OF 3 FACILITIES WERE GIVEN BY THE ASSESSEE COOPERATIVE B ANK TO OUTSIDERS ALSO. THEREFORE, THE ORDER OF THE TRIBUNAL MAY BE RECALLE D AND THE ISSUE MAY BE RE-EXAMINED IN THE LIGHT OF THE JUDGMENT OF THE HON BLE APEX COURT. THE LD. COUNSEL FOR THE ASSESSEE OBJECTED TO THIS REQUEST O F THE REVENUE. 2. HAVING CAREFULLY EXAMINED THE ORDER OF THE TRIBU NAL VIS--VIS THE MISCELLANEOUS PETITION, I FIND FORCE IN THE CONTENT ION OF THE REVENUE. SINCE THE HONBLE SUPREME COURT HAS CLARIFIED THE LEGAL P OSITION IN THIS REGARD, THE IMPUGNED ISSUE SHOULD HAVE BEEN ADJUDICATED IN THE LIGHT OF THE JUDGMENT OF THE HONBLE SUPREME COURT. ACCORDINGLY , I RECALL THE ORDER OF THE TRIBUNAL DATED 26.05.2017 AND DIRECT THE REGIST RY TO FIX THE APPEALS FOR HEARING ON 09 TH JANUARY, 2018 (09.01.2018). PARTIES BE INFORMED ACCORDINGLY. 3. IN THE RESULT, THE MISCELLANEOUS PETITION IS ALL OWED. PRONOUNCED IN THE OPEN COURT ON THIS 15 TH DAY OF DECEMBER, 2017. SD/- ( SUNIL KUMAR YADAV ) JUDICIAL MEMBER BANGALORE, DATED, THE 15 TH DECEMBER, 2017. / D ESAI S MURTHY / MP NO.238/BANG/2017 PAGE 3 OF 3 COPY TO: 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITA T, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY ITAT, BANGALORE.