Income Tax Officer Ward-6(3)(2), Bangalore V. M/s Pavagada Souharda Multipurpose Co-operative Limited , Bangalore

MA 76/BANG/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6506 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 10-05-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 20-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER M.P. NO.76/BANG/2018 [IN ITA NO. 34/BANG/2017] ASSESSMENT YEAR : 2012 - 13 THE INCOME TAX OFFICER, WARD 6(3)(2), BANGALORE. VS. M/S. PAVAGADA SOUHARDA MULTIPURPOSE CO-OP. LTD., NO.2729, 14 TH CROSS, E-BLOCK, KODIGEHALLI GATE, SAHAKARNAGAR, BENGALURU 560 092. PAN: AAAT 7737L APP L IC ANT RESPONDENT A PPL IC ANT BY : SHRI M. NARSIMHARAJU, JT. CIT(DR)(ITA T), BENGALURU RE SPONDENT BY : SHRI MADHUKAR G. HEGDE, CA DATE OF HEARING : 27 . 0 4 .201 8 DATE OF PRONOUNCEMENT : 10 . 0 5 .201 8 O R D E R PER SUNIL KUMAR YADAV, JUDICIAL MEMBER THIS MISCELLANEOUS PETITION IS FILED BY THE REVENU E AGAINST THE ORDER OF THE TRIBUNAL WITH THE SUBMISSION THAT THE ORDER OF TRIBUNAL MAY BE RECALLED AND MATTER MAY BE REHEARD AFRESH IN THE LI GHT OF THE FACT THAT INTEREST COMPONENT OF RS.3,23,524/- IS NOT TO BE AL LOWED AS DEDUCTION IN VIEW OF THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF MP NO.76/BANG/2018 PAGE 2 OF 3 THE TOTGARS CO-OPERATIVE SALE SOCIETY, 322 ITR 272 (SC) . THEREFORE, THE ORDER OF THE TRIBUNAL MAY BE MODIFIED. 2. THE LD. COUNSEL FOR THE ASSESSEE HAS CONTENDED T HAT THE TRIBUNAL HAS ADJUDICATED THE ISSUE IN THE LIGHT OF THE JUDGM ENT OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF THE TOTGARS CO-OPERATIVE SALE SOCIETY (SUPRA) AND TUMKUR MERCHANTS SOUHARDA CREDIT CO-OPERATIVE LTD. V. ITO IN ITA NO.307 OF 2014 DATED 28.10.2014 , THEREFORE NO INTERFERENCE IN THE ORDER OF TRIBUNAL IS CALLED FOR. 3. HAVING CAREFULLY EXAMINED THE ORDER OF TRIBUNAL VIS--VIS THE MISCELLANEOUS PETITION, WE FIND THAT THE TRIBUNAL H AS ADJUDICATED THE IMPUGNED ISSUE IN THE LIGHT OF THE JUDGMENT OF THE HONBLE JURISDICTIONAL HIGH COURT AND THEREFORE THERE IS NO ERROR IN THE O RDER OF TRIBUNAL WHICH CALLS FOR RECTIFICATION. ACCORDINGLY, WE FIND NO M ERIT IN THE MISCELLANEOUS PETITION FILED BY THE REVENUE AND WE DISMISS THE SA ME. PRONOUNCED IN THE OPEN COURT ON THIS 10 TH DAY OF MAY, 2018. SD/- SD/- ( A.K. GARODIA ) ( SUNIL KUMAR YADAV ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 10 TH MAY, 2018. / D ESAI S MURTHY / MP NO.76/BANG/2018 PAGE 3 OF 3 COPY TO: 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A ) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY ITAT, BANGALORE.