M/s.Puzhathy Service Co-op Bank Ltd, Kannur V. ITo, Kannur

MA 61/COCH/2013

• Counselvise Citation: [2013] 124 COUNSELVISE.COM (IT) 0812 (ITAT-COCHIN)
• Duration Of Justice: 2 month(s) 26 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 08-08-2013
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 02-08-2013
• Assessment Year: 2009-2010
• Appeal Filed On: 13-05-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S VIJAYAPRABHA
• Assessee Lawyers: T M SREEDHARAN

Judgement Text

MA NOS 60 & 61/ COCH/ 13 1 IN THE INCOME TAX APELALTER TIBUNAL COCHIN BENCH , COCHIN BEFORE S/SH RI N.R.S. GANESAN, JM & B. R. BASKARAN, AM MISCELLANEOUS PETITION NO.60 & 61/COCH/2013 ARISING OUT OF ITA NO. 267/ COCH/ 2012 (ASST YEAR S 2009 - 10 ) THE PERALASSERRY SERVICE CO - POP BANK LT D PERALASSERRY PO MUNDALUR KANNUR DIST KERALA PAN NO. AAIFK5391E VS THE INCOME TAX OFFICER WARD 1, KANNUR ( APP LICANT ) (RESPONDENT) MISCELLANEOUS PETITION NO. 61/COCH/2013 ARISING OUT OF ITA NO. 268/COCH/2012 (ASST YEARS 2009 - 10) THE PUZHATHI SERVIC E CO - POP BANK LTD PO KAKKAD KANNUR DIST KERALA PAN NO. AAAAP7672C VS THE INCOME TAX OFFICER WARD 1, KANNUR ( APP LICANT ) (RESPONDENT) PAN NO. ASSESSEE BY SHRI T M SREEDHARAN REVENUE BY SMT S VIJAYAPRABHA, JR DR DATE OF HEARING 2 ND AUG 2013 DATE O F PRONOUNCEMENT 08 TH , AUG 2013 OREER PER N.R.S G A N ESAN,JM : THE SE ASSESSEE S HAVE FILED TH ESE MISCELLANEOUS PETITIONS ON THE GROUND THAT THERE WAS AN ERROR IN THE ORDER OF THE TRIBUNAL MA NOS 60 & 61/ COCH/ 13 2 2 SHRI T M SREEDHARAN, LD SR COUNSEL FOR THE ASSESSEE SUBMITTED THAT THIS TRIBUNAL IN THE ORDER DATED 31.1.2013 FOUND THAT THE SOCIETY WHICH ARE NOT ENGAGED IN THE BANKING BUSINESS NEED NOT DEDUCT TAX WHILE PAYING INTEREST ON THE DEPOSITS. HOWEVER, IN THE CASE OF THE ASSESSEE, THE RELIEF WAS REJECTED. THEREFORE, THE L D SR COUNSEL SUBMITTED THAT THIS IS MISTAKE APPARENT ON RECORD WHICH NEEDS TO BE RECTIFIED U/S 254 OF THE ACT. 3 SMT VIJAYAPRABHA, THE LD DR APPEARED FOR THE DEPARTMENT. 4 WE HAVE CONSIDERED THE SUBMISSIONS MADE BY EITHER SIDE AND CAREFULLY GONE THROUG H THE GROUNDS OF APPEAL RAISED BY THE ASSESSEE BEFORE THIS TRIBUNAL. THE ONLY GROUND RAISED BEFORE THIS TRIBUNAL IS WITH REGARD TO THE REDUCTION U/S 80P OF THE ACT. IN RESPECT OF NON DEDUCTION OF TAX AT SOURCE WHILE MAKING THE PAYMENT OR ANY OTHER ISSUES WERE NOT RAISED BEFORE THIS TRIBUNAL. THIS TRIBUNAL IS EXPECTED TO DISPOSE OF THE GROUND AS PER THE GROUNDS OF APPEAL TAKEN BEFORE IT. SINCE THE ASSESSEE HAS NOT TAKEN ANY OTHER ISSUE OTHER THAN DEDUCTION U/S 80P, THIS TRIBUNAL IS OF THE CONSIDERED OPINI ON THAT THERE IS NO ERROR , MUCH LESS PRIMA FACIE ERROR IN THE ORDER OF THIS TRIBUNAL. ACCORDINGLY, WE DO NOT FIND ANY MERIT IN THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE AND HENCE DISMISSED. 4 IN THE RESULT, THE MISCELLANEOUS APPLICATIONS FILED BY THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 8 TH DAY OF AUG 2013. SD/ - SD/ ( B R BASKARAN ) ( N .R.S GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN: DATED 8 TH AUG 2013 RAJ* MA NOS 60 & 61/ COCH/ 13 3 COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT(A) 4. CIT 5. DR 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR ITAT, COCHIN