Income Tax Appellate Tribunal - Jaipur
Acit, Jaipur vs The Rajasthan State Co-Operative Bank ... on 27 February, 2017
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IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR
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BEFORE: SHRI BHAGCHAND, AM & SHRI KUL BHARAT, JM
vk;dj vihy la-@ITA No. 971/JP/2016
fu/kZkj.k o"kZ@Assessment Year : 2013-14.
Astt. Commissioner of Income-tax, cuke The Rajasthan State Co-
Circle-6, Vs. operative Bank Ltd.,
Jaipur. Apex Bank Building,
DC-1, Lal Kothi, Tonk Road,,
Jaipur.
LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAAAT 0824 G
vihykFkhZ@Appellant izR;FkhZ@Respondent
jktLo dh vksj ls@ Revenue by : Shri R.A. Verma (Addl. CIT)
fu/kZkfjrh dh vksj ls@ Assessee by : Shri Rajni Kant Bhatra (CA)
lquokbZ dh rkjh[k@ Date of Hearing : 23/02/2017
mn?kks"k.kk dh rkjh[k@ Date of Pronouncement : 27/02/2017
vkns'k@ ORDER
PER SHRI KUL BHARAT, J.M.
This appeal by the revenue is directed against the order of ld. CIT(A)-2, Jaipur dated 24.08.2016 pertaining to A.Y. 2013-14. The revenue has raised the following grounds of appeal :-
"1. Whether on the facts and in the circumstances of the case and in law, ld. CIT (Appeals) has erred in deleting the addition of Rs. 66,90,540/- made by the AO by disallowing the contribution to Primary Agriculture Credit co-operative Society (PACS) Development Fund being non business expenditure.2 ITA No. 971/JP/2016
The Rajasthan State Cooperative Bank Ltd.
2. The appellant craves its rights to add, amend or alter any of the grounds on or before the hearing."
2. Ground No. 2 is general in nature and needs no adjudication.
3. Ground No. 1 is against deletion of addition of Rs. 66,90,540/- on account of disallowance of contribution to Primary Agriculture Credit co- operative Society (PACS) Development Fund being non business expenditure.
4. Briefly stated the facts are that the AO while framing the assessment made addition of Rs. 66,90,540/- on account of disallowance of contribution to PACS Development Fund. On further appeal to the ld. CIT (A), deleted the addition following the decisions of the Coordinate Bench in the assessee's own cases in ITA Nos. 1077/JP/2010 and 1022/JP/2011 pertaining to assessment years 2007-08 and 2008-09 and further ITA No. 967/JP/2013 pertaining to assessment year 2010-11. Aggrieved by this, the revenue is in appeal before this Tribunal.
5. The ld. D/R supported the assessment order.
6. On the contrary, the ld. Counsel for the assessee reiterated the submissions as made in the written brief. He submitted that the issue is squarely covered in favour of the assessee by the decisions of the Tribunal in the case of assessee pertaining the earlier assessment years. He placed reliance on the decision of the ld. CIT (A).
3ITA No. 971/JP/2016
The Rajasthan State Cooperative Bank Ltd.
7. We have heard rival contentions, perused the material on record and gone through the orders of the lower authorities. The ld. CIT (A) deleted the addition by observing as under :-
"2.3. I have perused the facts of the case and the submissions of the appellant. The authorized representative of the assessee filed a copy of the order of the Hon'ble ITAT Jaipur Bench in the assessee's own case for Assessment Year 2011-12 & 2012-13 against the order under section 143(3). Vide this appeal order dated 17.06.2016 (ITA No. 998 & 999/JP/2015), the Hon'ble ITAT has rejected the revenue's appeal observing as under :-
"4.2. We have heard rival contentions and perused the material available on record. We find that the ld. CIT (A) has followed the decisions of the coordinate Bench of the Tribunal pertaining to earlier assessment year i.e. 2007-08 & 2008-09 in ITA Nos. 1277/JP/2010 and 1022/JP/2011. The coordinate Bench in A.Y. 2010-11 in ITA No. 967/JP/2013 in para 5 following the earlier decision of the coordinate Bench decided the issue against the assessee. There is no change in the facts and circumstances in the year under appeal. Therefore, we do not see any reason to interfere into the order of ld. CIT (A), which is hereby upheld. The ground no. (1) in both the appeal of the revenue is rejected."
The above finding of ld. CIT (A) is not controverted by the revenue. No contrary binding judgment of Hon'ble Jurisdictional High Court or Hon'ble Supreme Court is brought to our notice, therefore, taking a consistent view as taken by the Coordinate Bench in ITA Nos. 1077/JP/2010 and 1022/JP/2011 pertaining to assessment years 2007-08 and 2008-09 and further ITA No. 4 ITA No. 971/JP/2016 The Rajasthan State Cooperative Bank Ltd.
967/JP/2013 pertaining to assessment year 2010-11, we reject this ground of the revenue. Appeal of the revenue is dismissed.
8. In the result, appeal of the revenue is dismissed.
Order pronounced in the open court on 27/02/2017.
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fnukad@Dated:- 27/02/2017.
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vkns'k dh izfrfyfi vxzsf'kr@Copy of the order forwarded to:
1. vihykFkhZ@The Appellant- The ACIT, Circle-6, Jaipur.
2. izR;FkhZ@ The Respondent- The Rajasthan State Co-operative Bank Ltd., Jaipur.
3. vk;dj vk;qDr@ CIT
4. vk;dj vk;qDr¼vihy½@The CIT(A)
5. foHkkxh; izfrfuf/k] vk;dj vihyh; vf/kdj.k] t;iqj@DR, ITAT, Jaipur
6. xkMZ QkbZy@ Guard File (ITA No. 971/JP/2016) vkns'kkuqlkj@ By order, lgk;d iathdkj@Asst. Registrar