South Central Railway Employees Co-operative Credit Society Ltd, Hyderabad V. Income Tax Officer, Ward-10(5), Hyderabad

MA 40/Hyd/2021

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6991 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 22-06-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: A V RAGHURAM
• Keywords: Business income
• Section: 80P; 254(2); 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER (THROUGH VIRTUAL HEARING) M.A. NO S .40 & 41 /HYD/2021 (ARISING OUT OF ITA NO. 1527 & 1528/ HYD/201 9 ) (ASSESSMENT YEAR : 20 12 - 13 ) M/S. SOUTH CENTRAL RAILWAY EMPLOYEES CO - OPERATIVE CREDIT SOCIETY LTD., 10 - 3 - 194, SAHAKAR BHAVAN, HIMMAT NAGAR, 236, REZMENTAL BAZAR, SECUNDERABAD. PAN AABAS 9059D VS. INCOME TAX OFFICER, WARD 1 0(5) , HYDERABAD . APPELLANT RESPONDENT APPELLANT BY : SHRI A.V. RAGHU RAM. RESPONDENT BY : SHRI A.P. BABU (D.R.) DATE OF HEARING : 02.07. 2021 . DATE OF PRONOUNCEMENT : 17 .0 8 .2021. O R D E R THESE ASSESSEE'S MISC. APPLICATIONS FILED U/S. 254(2) OF THE INCOME TAX ACT (IN SHORT 'THE ACT') SEEK TO RECTIFY THE TRIBUNALS COMMON ORDER DT.24.03.2021 HOLDING I T ASSESSEE ENTITLED FOR 80P DEDUCTION(S). 2 M A NO S .40 & 41 /HYD/20 21 HEARD BOTH SIDES. CASE FILES PERUSED. 2. I NOTICE AT THE OUTSET THAT ASSESSEE'S SECTION 80P DEDUCTION CLAIM IN ASSESSMENT YEAR 2012 - 1 3 WAS RS.25 , 4 2, 833 WHERE IT HAS BEEN WRONGLY TAKEN AS RS.1,10,870 ONLY . I THEREFORE ORDER NECESSARY CORRECT ION TO THIS EFFECT AND DIRECT THE ASSESSING OFFICER TO TREAT THE ASSESSEE ELIGIBLE FOR 80P DEDUCTION TO THE TUNE OF RS.25,42,833 IN ASSESSMENT YEAR 2012 - 13. 3. NEXT COMES THE COMMON ISSUE FOR NON - ADJUDICATION OF ASSESSEE'S IDENTICAL SIXTH SUBSTANTIVE GROUND IN THESE TWIN APPEALS CLAIMING 80P DEDUCTION QUA SUMS OF RS.1,10,870 AND RS.1,70,530; RESPECTIVELY. THE ASSESSEE'S SOLE CASE IS THAT THE SAME FORMS PART OF ITS BUSINESS INCOME ONLY WHICH WAS NOT ADJUDICATED IN THE TRIBUNALS ORDER. THERE IS NO DI SPUTE THAT THE TRIBUNALS ORDER HA D NOT ADJUDICATED IN THE INSTANT LAST ISSUE IN BOTH THE SE ASSESSMENT YEARS. I, THEREFORE, RESTORE THE INSTANT ISSUES BACK TO THE ASSESSING OFFICER FOR HIS NECESSARY FACTUAL VERIFICATION 3 M A NO S .40 & 41 /HYD/20 21 TO THIS EFFECT . NO OTHER ARGUMENTS HAVE BEEN RAISED BEFORE US. 4. THESE ASSESSEE'S MISCELLANEOUS APPLICATIONS 40 & 41/HYD/2021 ALLOWED IN ABOVE TERMS. A COPY OF THIS COMMON ORDER BE PLACED IN THE RESPECTIVE CASE FILES. ORDER PRONOUNCED IN THE OPEN COURT ON 17 .0 8 . 2021. SD/ - (S.S. GODARA) JUDICIAL MEMBER * REDDY GP COPY TO : 1. M/S. SOUTH CENTRAL RAILWAY EMPLOYEES CO - OPERATIVE CREDIT SOCIETY LTD., 10 - 3 - 194, SAHAKAR BHAVAN, HIMMAT NAGAR, 236, REZMENTAL BAZAR, SECUNDERABAD. 2. ITO, WARD 1 0(5) , S ECUNDERABAD . 3. PR. C I T - 6 , HYDERABAD. 4. CIT(APPEALS) - 6 , HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.