Income TAx Officer Ward-6(3)(1), Bangalore v. M/s BEL Employees House Building Co-operative Society Ltd , Bangalore

ITA 1585/BANG/2017 | 2008-2009
Pronouncement Date: 29-11-2017 | Result: Dismissed

Appeal Details

RSA Number 158521114 RSA 2017
Assessee PAN AABAB2034P
Bench Bangalore
Appeal Number ITA 1585/BANG/2017
Duration Of Justice 4 month(s) 9 day(s)
Appellant Income TAx Officer Ward-6(3)(1), Bangalore
Respondent M/s BEL Employees House Building Co-operative Society Ltd , Bangalore
Appeal Type Income Tax Appeal
Pronouncement Date 29-11-2017
Appeal Filed By Department
Tags No record found
Order Result Dismissed
Bench Allotted C
Tribunal Order Date 29-11-2017
Last Hearing Date 23-11-2017
First Hearing Date 23-11-2017
Assessment Year 2008-2009
Appeal Filed On 20-07-2017
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH SMC-C BANGALORE BEFORE SHRI A.K.GARODIA ACCOUNANT MEMBER ITA NOS.1584 TO 1587 (BANG) 2017 (ASSESSMENT YEARS : 2007 08 TO 2010 11) THE ITO WARD 6 (2) (4) BENGALURU. APPELL ANT VS M/S. BEL EMPLOYEES HOUSE BUILDING CO-OPERATIVE SOCI ETY LTD. C 92 BEL COLONY JALAHALLI POST BANGALORE 560013. PAN. AABAB2034P RESPONDENT ASSESSEE BY : NONE REVENUE BY : SHRI PALANI KUMAR ADDL. CIT DATE OF HEARING : 23-11-2017 DATE OF PRONOUNCEMENT : 2 9-11-2017 O R D E R PER A. K. GARODIA A.M.: THESE FOUR APPEALS ARE FILED BY THE REVENUE WHICH A RE DIRECTED AGAINST A COMBINED ORDER OF CIT (A) (6) BENGALURU DATED 24 .02.2017 FOR A. YS. 2007 08 TO 2010 11. 2. NOTICE OF HEARING WAS DULY SERVED ON THE ASSESSE E AS PER ACKNOWLEDGEMENT AVAILABLE ON RECORD BUT IN SPITE OF THIS NONE APPE ARED ON BEHALF OF THE ASSESSEE AND THERE IS NO REQUEST FOR ADJOURNMENT AN D THEREFORE THESE APPEALS WERE HEARD EX PARTE QUA THE ASSESSEE. 3. AT THE VERY OUTSET IT WAS POINTED OUT BY THE BE NCH THAT IN TWO YEARS I.E. A. Y. 2007 08 AND 2008 09 THE TAX EFFECT IS BELOW RS . 10 LACS BECAUSE THE ASSESSED INCOME ITSELF IS RS. 665 279/- AND RS. 899 130/- RESPECTIVELY AS NOTED IN PARA 3B OF FORM 36. THE BENCH POINTED OUT THAT R ETURNED INCOME WAS NIL IN BOTH THESE YEARS AND THEREFORE EVEN IF THE ENTIRE ADDITION IS DELETED BY CIT (A) AND APPEAL IS FILED BY THE REVENUE FOR ENTIRE SUCH DELETION THAN ALSO THE TAX ITA NOS. 1584 TO 1587(BANG)2017 2 EFFECT WILL BE MUCH BELOW RS. 10 LACS AND AS PER TH E LATEST CBDT INSTRUCTIONS THE REVENUE IS NOT SUPPOSED TO FILE AN APPEAL BEFOR E THE TRIBUNAL IF TAX EFFECT IS LESS THAN RS. 10 LACS. THE BENCH WANTED TO KNOW AS TO HOW THESE TWO APPEALS ARE MAINTAINABLE BECAUSE OF LOW TAX EFFECT. IN REPL Y LEARNED DR OF THE REVENUE HAD NOTHING TO SAY AND HE SIMPLY SUPPORTED THE ASSE SSMENT ORDER. 4. IN VIEW OF THE ABOVE DISCUSSION THESE TWO APPEA LS OF THE REVENUE ARE DISMISSED AS NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT. 5. IN RESPECT OF THE REMAINING TWO APPEALS THE ONL Y ONE COMMON ISSUE INVOLVED IS REGARDING ALLOWABILITY OF DEDUCTION U/S 80P (2) (D) OF I T ACT INTEREST INCOME FROM BANKS. LEARNED DR SUBMITTED THAT THIS ISSUE IS COVERED AGAINST THE ASSESSEE BY THE JUDGMENT OF HONBLE KARNATAKA HIGH COURT RENDERED IN THE CASE OF PCIT VS. TOTAGARS CO OPERATIVE SALE SOCIETY AS REPORTED IN 395 ITR 611. 6. I HAVE CONSIDERED THE SUBMISSIONS OF THE LEARNED DR OF THE REVENUE AND RESPECTFULLY FOLLOWING THIS JUDGMENT CITED BY HIM I REVERSE THE ORDER OF CIT (A) AND RESTORE THAT OF THE AO. 7. IN THE RESULT THESE TWO APPEALS OF THE REVENUE ARE ALLOWED. 8. IN THE COMBINED RESULT THE APPEALS OF THE REVEN UE FOR A. YS. 2007 08 & 2008 09 ARE DISMISSED AND THE REMAINING TWO APPEALS AR E ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENT IONED ON THE CAPTION PAGE. SD/- ( A .K. GARODIA ) ACCOUNTANT MEMBER BANGALORE: D A T E D : 29.11.2017 /MS/ ITA NOS. 1584 TO 1587(BANG)2017 3 COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ITAT BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL BANGALORE.