The Prantij Taluka Primary Teachers Sahakari Sharafi Mandali.Ltd., Sabarkantha V. The ITO,S.K.Range Ward-2, Himatnagar

MA 32/AHD/2023

AI Insights

The case involves the Prantij Taluka Primary Teachers Sahakari Sharafi Mandali Ltd., the appellant, contesting an order by the Income Tax Officer, Ward-2, S.K. Range, Himatnagar, the respondent. The appellant filed a Miscellaneous Application (M.A No. 32/Ahd/2023) seeking to rectify what they claimed was an 'apparent mistake on record' in the Tribunal's earlier order dated 30.01.2023. The appellant argued that the Tribunal had failed to consider their own previous ITAT order dated 31.01.2014 for A.Y. 2009-10 and misapplied the Supreme Court's decision in the case of Mavilayi Service Co-operative Bank Ltd. & Others vs. CIT. The Tribunal acknowledged the oversight and allowed the application, recalling the previous order and setting a date for a fresh hearing.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 300011 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 month(s) 1 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 06-07-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 29-06-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 05-03-2023
• Other Referred Cases: Totagar's Co-op Sale Society Ltd. vs. ITO 322 ITR 283, Mavilayi Service Co-operative Bank Ltd. & Others vs. CIT 431 ITR 1, Shrinath Co.op. Credit Society in ITA Nos. 389, 390 & 391/Ahd/2022
• Laws Referred To: Section 80P(2)(a)(i)
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER M. A . N o. 32 /A h d /2 0 2 3 ( I n I TA N o . 4 79 /A h d/2 0 1 9) ( A s se ss m e nt Y e a r : 20 13- 1 4 ) The P r a n t ij Ta lu ka P ri m a r y T ea ch er s Sa ha k ar i Sh ar a fi M and al i Lt d ., A t & P os t : Pr an tij - 38 32 0 5, Ta l uk a : P r a n tij , D is t: Sa ba r k an th a Vs . I nc o me Ta x O f f ic er , War d - 2 , S . K . R an g e, H i ma t na g a r , D is t: S . K . [ P A N N o . AA J F P7 3 13 A ] (Appellant) .. (Respondent) Appellant by : Shri Dhinal Shah, A.R. Respondent by : Shri Urjit Shah, Sr. D.R. D a t e of H ea r i ng 30.06.2023 D a t e of P r o no u n ce me nt 07.07.2023 O R D E R This Miscellaneous Application is filed by the assessee in respect of the order dated 30.01.2023 passed by the Tribunal. 2. The Ld. A.R. submitted that the there is mistake apparent on record in order dated 30.01.2023 as the Tribunal has not considered the assessee’s own ITAT Order dated 31.01.2014 for A.Y. 2009-10. The Ld. A.R. submitted that the Tribunal has distinguished the Hon’ble Supreme Court decision in case of Totagar’s Co-op Sale Society Ltd. vs. ITO 322 ITR 283 and non-consideration of assessee’s own case for A.Y. 2009-10 is apparent mistake on record. The Ld. A.R. further submitted that after considering the decision of the Apex Court in case of Mavilayi Service Co-operative Bank Ltd. & Others vs. CIT 431 ITR 1 has allowed the appeal in the case of Shrinath Co.op. Credit Society in ITA Nos. 389, 390 & 391/Ahd/2022 for M.A No.32/Ahd/2023 (in ITA No. 479/Ahd/2019) The Prantij Taluka Primary Teachers Sahakari Sharafi Mandali Ltd. vs. ITO Asst.Year– 2013-14 - 2 - A.Y. 2015-16, 2017-18 & 2018-19. Whereas the Tribunal has dismissed the appeal of the assessee for A.Y. 2013-14 after considering the decision of Hon’ble Supreme Court without in case of Mavilayi Service Co-operative Bank Ltd. and Others by referring Para No. 33 & 35 of the decision which amount to apparent mistake on record. The Ld. A.R. submitted that from Para 5 of the Tribunal’s order dated 30.01.2023 it appears that the investment is made out of operational funds and not out of surplus funds. The Ld. A.R. furnished the statement of working of operational funds at the time of hearing. The Tribunal did not consider assessee’s submissions that the investment is out of operational fund that he working at the time of hearing. This amounts to apparent mistake on record. Thus, the Ld. A.R. submitted that in Para 7 the Tribunal held that the investment in SSNL is out of surplus funds and not out of operational funds ignoring the working of operational funds furnished during the hearing of the appeal. 3. The Ld. A.R. further submitted that if the credit facility is given to the members then the entire income is eligible for deduction under Section 80P(2)(a)(i). The Ld. A.R. submitted that if the credit facility given to the members the entire income is not eligible for deduction under Section 80(P)(20(a)(i). Thus, the Tribunal did not consider the Ld. A.R’s. submission, therefore, it amounts to apparent mistake on record. 4. The Ld. D.R. relied upon the order of the Tribunal and submitted that the assessee is seeking review of the order and this Miscellaneous Application should not be entertained. M.A No.32/Ahd/2023 (in ITA No. 479/Ahd/2019) The Prantij Taluka Primary Teachers Sahakari Sharafi Mandali Ltd. vs. ITO Asst.Year– 2013-14 - 3 - 5. Heard both the parties and perused all the relevant material available on record. The Ld. A.R. pointed out that the assessee’s own case the Tribunal vide order dated 31.01.2014 for A.Y. 2009-10 has not taken into account while passing the order in A.Y. 2013-14. This appears to be apparent mistake on record. Therefore, the order dated 30.01.2023 is recalled. The Miscellaneous Application is allowed and the Registry is directed to place the appeal being ITA No. 479/Ahd/2019 for fresh hearing on 02.08.2023 by giving notices to both the parties. 6. In result, the Miscellaneous Application filed by the assessee is allowed. This Order pronounced in Open Court on 07/07/2023 Sd/- (SUCHITRA KAMBLE) JUDICIAL MEMBER Ahmedabad; Dated 07/07/2023 TANMAY, Sr. PS TRUE COPY आदेश क त ल प अ े षत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. यथ / The Respondent. 3. संबं धत आयकर आय ु त / Concerned CIT 4. आयकर आय ु त(अपील) / The CIT(A)- 5. वभागीय त न ध, आयकर अपील!य अ धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड' फाईल / Guard file. आदेशान ु सार/ BY ORDER, उप/सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपील य अ धकरण, अहमदाबाद / ITAT, Ahmedabad