The ACIT, Bhopal v. M/s. Satya Sai Trust (M.P.), Bhopal

ITA 393/IND/2009 | 2006-2007
Pronouncement Date: 14-07-2010 | Result: Dismissed

Appeal Details

RSA Number 39322714 RSA 2009
Assessee PAN AAATS3999N
Bench Indore
Appeal Number ITA 393/IND/2009
Duration Of Justice 11 month(s) 17 day(s)
Appellant The ACIT, Bhopal
Respondent M/s. Satya Sai Trust (M.P.), Bhopal
Appeal Type Income Tax Appeal
Pronouncement Date 14-07-2010
Appeal Filed By Department
Order Result Dismissed
Bench Allotted DB
Tribunal Order Date 14-07-2010
Date Of Final Hearing 13-07-2010
Next Hearing Date 13-07-2010
Assessment Year 2006-2007
Appeal Filed On 27-07-2009
Judgment Text
PAGE 1 OF 3 - I.T.A.NO. 393/IND/2009 M/S. SATYA SAI TRUST BHOPAL. IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH : INDORE BEFORE SHRI JOGINDER SINGH JUDICIAL MEMBER AND SHRI V.K. GUPTA ACCOUNTANT MEMBER PAN NO. : AAATS3999N I.T.A.NO.393/IND/2009 A.Y. : 2006-07 ACIT M/S. SATYA SAI TRUST (M.P.) 1(2) VS HOSHANGABAD ROAD BHOPAL BHOPAL APPELLANT RESPONDENT APPELLANT BY : SHRI K.K.SINGH CIT DR RESPONDENT BY : SHRI AJAY K.CHHAJED ADV. DATE OF HEARING : 13.07.2010 O R D E R PER BENCH THIS APPEAL FILED BY THE REVENUE ARISES OUT OF ORDE R OF THE LD. CIT(A)-I BHOPAL DATED 11.5.2009 FOR THE ASSESSM ENT YEAR 2006-07. 2. WE HAVE HEARD BOTH THE PARTIES AND HAVE ALSO PERUSE D THE MATERIAL AVAILABLE ON RECORD. 3. GROUND RAISED BY THE REVENUE READS AS UNDER :- PAGE 2 OF 3 - I.T.A.NO. 393/IND/2009 M/S. SATYA SAI TRUST BHOPAL. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD.CIT(A) HAS ERRED IN DIRECTING THE AO TO TAKE INT O CONSIDERATION THE SURPLUSES/DEFICITS OF THE EARLIER YEARS AND ALLOW THE SET-OFF AS PER RECORDS. 4. THE LD.COUNSEL FOR THE ASSESSEE AT THE VERY OUT-SE T SUBMITTED THAT THE ASSESSEE FILED RETURN SHOWING DEFICIT. HOW EVER DUE TO DENIAL OF EXEMPTION U/S 11 BECAUSE OF NON-TRACEABILITY OF THE CERTIFICATE ISSUED U/S 12-A THERE OCCURRED A TAXABLE SURPLUS AGAINST WHIC H THE ASSESSEE CLAIMED SET-OFF OF EARLIER YEARS DEFICIT WHICH WAS ALLOWED BY THE CIT(A). SUBSEQUENTLY THE CERTIFICATE ISSUED U/S 12-A WAS TRACED HENCE THE ASSESSEE WAS ENTITLED FOR EXEMPTION U/S 11 AND THU S THIS GROUND WAS OF ONLY OF ACADEMIC NATURE. THE LD. CIT DR THOUGH ACC EPTED THESE FACTS HOWEVER HE STILL PREFERRED TO RELY ON THE GROUND OF APPEAL RAISED BY THE REVENUE AND SUBMITTED THAT NO PROVISION EXISTED IN LAW TO ALLOW SET OFF OF EARLIER YEARS DEFICIT. IN VIEW OF ASSESSEES ENTITL EMENT FOR EXEMPTION U/S 11 BASED ON CERTIFICATE ISSUED U/S 12A WE ARE OF T HE VIEW THAT THE ISSUE RAISED IN THIS APPEAL IS OF ACADEMIC NATURE HENC E WE FIND NO NECESSITY TO ADJUDICATE UPON THE ISSUE ON MERITS AND DISMISS THIS APPEAL OF THE REVENUE AS OF ACADEMIC NATURE. PAGE 3 OF 3 - I.T.A.NO. 393/IND/2009 M/S. SATYA SAI TRUST BHOPAL. 5. IN THE RESULT THE APPEAL FILED BY THE REVENUE IS DISMISSED. THIS ORDER HAS BEEN PRONOUNCED IN THE OPEN COURT ON 14 TH JULY 2010. SD/- SD/- (JOGINDER SINGH) (V. K. GUPTA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 14 TH JULY 2010. CPU* 13147