The DCIT, Trivandrum V. M/s.Navaikulam Service Co-op Bank Ltd, Trivandrum

MA 57/COCH/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 6367 (ITAT-COCHIN)
• Duration Of Justice: 29 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 27-06-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A S BINDHU
• Section: 80P

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI CHANDRA POOJAR I, AM & SHRI GEORGE GEORGE K, JM MA NO. 57 /COCH/201 9 : ASST.YEAR 2013 - 2014 (ARISING OUT OF ITA NO. 507 /COCH/201 6 ) THE DY.COMMISSIONER OF INCOME - TAX, CIRCLE 2(1) TRIVANDRUM. VS. M/S.NAVAIKULAM SERVICE CO - OPERATIVE BANK LTD. NAVAIKULAM P.O. THIRUVANANTHAPURAM PAN : AAAAN6970B. ( APPLICANT ) (RESPONDENT) APPLICANT BY : SMT.A.S.BINDHU, SR.DR RESPONDENT BY : --- NONE --- DATE OF HEARING : 26.07.2019 DATE OF PRONOUNCEMENT : 26 .07.2019 O R D E R PER GEORGE GEORGE K., JM THIS MISCELLANEOUS APPLICATION U/S.254(2) OF THE INCOME - TAX ACT, 1961 HAS BEEN PREFERRED BY THE REVENUE PRAYING FOR THE RECALLING OF THE ORDER OF THE TRIBUNAL DATED 14.02.2018 PASSED IN ITA NO.507/COCH/2016 . 2. THE LEARNED DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT THE TRIBUNAL HAS DISMISSED THE APPEAL OF THE REVENUE BY FOLLOWING THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF THE CHIRAKKAL SERVICE CO - OPERATIVE BA NK LTD. & ORS. V. CIT [(2016) 384 ITR 490 (KER.)] BY HOLDING THAT THE ASSESSEE IS ENTITLED TO THE BENEFIT OF DEDUCTION U/S 80P OF THE I.T.ACT. THE LEARNED DR FURTHER SUBMITTED THAT THE LATEST M A NO. 57 / COCH /201 9 . M/S.NAVAIKULAM SCB LIMITED . 2 JUDGMENT OF THE LARGER BENCH OF THE HONBLE KERALA HIGH COURT IN THE CASE OF M/S.MAVILAYI SERVICE CO - OPERATIVE BANK LTD. [ ITA NO.97/2016 DATED 19.03.2019] HAS REVERSED THE ORDER OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF THE CHIRAKKAL SERVICE CO - OPERATIVE BANK LTD. (SUPRA) . THEREFORE, THE LEARNED DR PRAYED THAT THE IMPUGNED ORDER OF THE TRIBUNAL MAY BE RECALLED AND PASS AN APPROPRIATE ORDER. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE, HOWEVER, A WRITTEN SUBMISSION WAS PLACED ON RECORD BY THE ASSESSEE . THE CONTENT OF THE SAME IS THAT THE TRIBUNAL HAS PASSED THE IMPUGNED ORDER ON 14.02.2018, HOWEVER , THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS APPLICATION BEYO ND THE TIME LIMIT AS MANDATED U/S 254(2) OF THE I.T.ACT, I.E. AFTER A LAPSE OF 312 DAYS . THE ASSESSEE HAS ALSO PLACED RELIANCE ON THE JUDGMENT OF THE HONBLE SUPREME COURT IN THE CASE OF SREE AYYANAR SPINNING AND WEAVING MILLS LTD. V. CIT [(2008) 301 ITR 434 (SC)] . 4. WE HAVE HEARD THE LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE MATERIAL ON RECORD. ADMITTEDLY, THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS APPLICATION BEYOND THE TIME LIMIT PRESCRIBED U/S 254(2) OF THE I.T.ACT. THERE IS NO PROVISION UNDER THE ACT TO CONDONE THE DELAY IN FILING THE MISCELLANEOUS APPLICATION BELATEDLY. HENCE, THIS MISCELLANEOUS APPLICATION F ILED BY THE REVENUE IS DISMISSED. IT IS ORDERED ACCORDINGLY. M A NO. 57 / COCH /201 9 . M/S.NAVAIKULAM SCB LIMITED . 3 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE REVENUE IS DISMISSED . ORDER PRONOUNCED ON THIS 26 TH DAY OF JULY, 2019 . SD/ - SD/ - ( CHANDRA POOJARI ) ( GEORGE GEORGE K. ) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN ; DATED : 26 TH JULY, 2019. DEVDAS* COPY OF THE ORDER FORWARDED TO : BY ORDER, AR - ITAT - COCHIN 1. THE APPLICANTS. 2. THE RESPONDENT. 3. THE CIT(A) - II KOCHI 4. THE PR.CIT, KOCHI. 5. DR, ITAT, COCHIN 6 . GUARD FILE.