S 681 Chinnathirupathi PACB Limited, Salem V. ITO Ward 1(4), Salem

MA 88/CHNY/2018

• Counselvise Citation: [2018] 111 COUNSELVISE.COM (IT) 1456 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 31-08-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 27-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G D JAYANTHI JCIT
• Assessee Lawyers: M NARAYANAN RTD
• Section: 254(2)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI , , $ BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER M.P. NO. 88 /CHNY /201 8 ( ./I.T.A. NO. 2327/CHNY/2017) / ASSESSMENT YEAR: 2011-12 INCOME TAX OFFICER, WARD-1(4), SALEM. VS. M/S. S. 681 CHINNATHIRUPATHI PACB LIMITED , CHINNATHIRUPATHI, SALEM 636008. [PAN: AAATT 5833A] M.P. NO. 90 /CHNY /201 8 ( ./I.T.A. NO. 2332/CHNY/2017) / ASSESSMENT YEAR: 2014-15 INCOME TAX OFFICER, WARD-1(4), SALEM. VS. M/S. S. 1234, UDYAPATTI PACCS LTD., UDAYAPATTI P.O., SALEM 636 140. [PAN: AAFAS 8771G] ASSESSEES BY : SHRI M. NARAYANAN, RTD. ADDL. CIT REVENUE BY : SHRI G.D. JAYANTHI, JCIT & /DATE OF HEARING : 31.08.2018 & /DATE OF PRONOUNCEMENT : 31.08.2018 :-2-: MP. NOS.88 & 90/CHNY/2018 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER: THE ABOVE ASSESSEES FILED THESE MISCELLANEOUS PE TITIONS AGAINST THE ORDERS OF THIS TRIBUNAL IN ITA NOS. 232 7 & 2332/CHNY/2017 FOR ASSESSMENT YEAR 2011-12 & 2014-15, RESPECTIVELY, W HEREIN, THIS TRIBUNAL CONSIDERING THE FACT RECORDED BY THE ASSESSING OFFI CER, INTER ALIA, THAT THE ASSESSEE HAS NOT CARRIED OUT ANY ACTIVITIES IN CONN ECTION WITH AGRICULTURAL ACTIVITY, AS PROVIDED UNDER EXPLANATIONS OF SECTION 80P(4), ITS ACTIVITIES ARE PURELY A COMMERCIAL BANKING ACTIVITY, IT IS CLEAR T HAT THE ASSOCIATE MEMBER IS ADMITTED INTO THE SOCIETY FOR THE PURPOSE OF AVAILI NG LOAN AND DO NOT HAVE ANY OTHER RIGHTS/OBLIGATIONS AS ENDOWED TO A MEMBER ETC ., THE ASSESSEES SUBMISSIONS AND OTHER MATERIAL, APPLYING THE SUPREM E COURT DECISION IN THE CASE OF CITIZEN CO-OPERATIVE SOCIETY LIMITED, THROU GH ITS MANAGING DIRECTOR, HYDERABAD VS ACIT DATED 08.08.2017 IN CIVIL APPEAL NO. 10245 OF 2017 HELD THAT THE ASSESSEE CANNOT BE TREATED AS A CO-OPERATI VE SOCIETY MEANT ONLY FOR ITS MEMBERS AND PROVIDING CREDIT FACILITIES TO ITS MEMBERS AND HENCE THEY ARE NOT ENTITLED TO THE BENEFIT OF SECTION 80P(2)(A)(I) . AGAINST THESE ORDERS, THE ABOVE ASSESSEES FILED THESE PETITIONS IN MP NOS. 8 8 & 90/CHNY/2018, RESPECTIVELY. 2. WE HEARD THE RIVAL CONTENTIONS. FROM THE VARIOU S JUDGEMENTS OF THE SUPREME COURT AND OTHER HIGH COURTS, IT IS CLEAR, THAT THE TRIBUNALS POWER :-3-: MP. NOS.88 & 90/CHNY/2018 U/S. 254(2) IS NOT TO REVIEW ITS EARLIER ORDER, BUT ONLY TO AMEND IT WITH A VIEW TO RECTIFY ANY MISTAKE APPARENT FROM THE RECORD. A N ERROR APPARENT ON THE RECORD MEANS AN ERROR WHICH STRIKES ONE ON MERE LOO KING AND DOES NOT NEED A LONG DRAWN OUT PROCESS OF REASONING ON POINTS ON WH ICH THERE MAY BE CONCEIVABLY TWO OPINIONS. THE ERROR SHOULD NOT REQ UIRE ANY EXTRANEOUS MATTER TO SHOW ITS INCORRECTNESS. IF THE VIEW ACCE PTED BY THE TRIBUNAL IN THE IMPUGNED ORDERS ARE ONE OF POSSIBLE VIEWS, THESE CA SES CANNOT BE SAID TO BE COVERED BY AN ERROR APPARENT ON THE FACE OF THE REC ORD. SINCE THE ASSESSEES ARE NOT ABLE TO EXACTLY POINT OUT THE MISTAKE APPAR ENT FROM THE RECORD THE MP FILED BY THEM ARE DISMISSED. 3. IN THE RESULT, THE MISCELLANEOUS PETITIONS FILED BY THE ASSESSEES ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 31 ST AUGUST, 2018 AT CHENNAI. SD/- ( ) (GEORGE MATHAN) /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) /ACCOUNTANT MEMBER /CHENNAI, + /DATED: 31 ST AUGUST, 2018 JPV &-./0/ /COPY TO: 1. 1 / APPELLANT 2. -31 /RESPONDENT 3. 4 ) ( /CIT(A) 4. 4 /CIT 5. /- /DR 6. /GF