Income Tax Appellate Tribunal - Ahmedabad
Deesa Survankar Nagrik Sarafi Sahakari ... vs Acit, B.K.Circle,, Palanpur on 11 January, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL "SMC" BENCH, AHMEDABAD BEFORE SHRI R.P. TOLANI, JUDICIAL MEMBER आयकर अपील सं./ ITA No. 2823/Ahd/2013 िनधा रण वष / Assessment Year : 2008-09 The Deesa Survankar Nagrik ACIT, Sarafi Sahakari Mandali Ltd., Vs B.K. Circle, Subhash Chowk, Opp. Petrol Palanpur Pump, Deesa-385535 PAN No. AABAT 3306 J अपीलाथ / अपीलाथ (Appellant) यथ यथ / थ (Respondent) Assessee by : Shri P.S. Kanudawala, AR Revenue by : Shri Rajesh Meena, Sr DR सुनवाई क तारीख/ Date of Hearing : 11/01/2017 घोषणा क तारीख / Date of Pronouncement: 11/01/2017 आदेश/O R D E R This appeal by the assessee is directed against the order of the Learned Commissioner of Income-Tax (Appeals)-I, Ahmedabad dated 17.09.2013 for Assessment Year 2008-09.
2. Various grounds are raised; however, the effective ground is as under:-
The ld. CIT(A) erred in law and on facts in denying the benefit of Section 80P(2)(a)(i) of the Income-tax Act, 1961, ignoring that the assessee is not a Co-operative Bank and in the preceding AY 2007-08, the CIT(A), after examining the amendment in provisions of Section 2(24) and 80P(4), held that they are not applicable to assessee and it was eligible for the benefit.
3. Ld. Counsel for the assessee, at the outset, contends that it is not disputed that the assessee is a Co-operative Credit Society and it is not a Co- operative Bank. Therefore, the decision of Hon'ble Gujarat High Court in SMC-ITA No. 2823/Ahd/2013 The Deesa Survankar Nagrik Sarafi Sahakari Mandali Ltd vs. ACIT AY : 2008-09 2 the case of CIT vs. Jafari Momin Vikas Co-op Credit Society Ltd, reported in 362 ITR 331 (Guj.) is fully applicable to it. In the preceding assessment year, i.e. AY 2007-08, the ld. CIT(A) held the assessee to be eligible for deduction u/s 80P(2)(a)(i) and allowed the assessee's claim by following observations:-
"3.5 Hon'ble ITAT 'B' Bench, Ahmedabad in the case of Jafri Momin Vikas Co-op. Credit Society Ltd., Sidhpur for AY 2007-08 vide order No.ITA No.902/Ahd/2012 dated 20.06.2012 dismissed the appeal of the Revenue and allowed the cross-objection raised by the assessee. As the facts of the case are identical to the case decided by the Hon'ble ITAT 'B' Bench, Ahmedabad, as mentioned above, the appeal of the assessee is allowed."
4. Ld. Departmental Representative is heard who supported the orders of the authorities below.
5. I have heard the rival contentions, perused the material available on record and gone through the orders of the authorities below. It is undisputed fact that the assessee is a Co-operative Credit Society and not a Co-operative Bank. In view thereof, the decision of Hon'ble Gujarat High Court in the case of Jafari Momin Vikas Co-op Credit Society Ltd (supra) is applicable to the case of the assessee. Therefore, it is held that the assessee is eligible for claim of deduction u/s 80P(2)(a)(i) of the Act. In view thereof, the assessee's appeal is allowed.
6. In the result, the appeal filed by the assessee is allowed.
Order pronounced in the Court on 11th January, 2017 at Ahmedabad.
Sd/-
R.P. TOLANI (JUDICIAL MEMBER) Ahmedabad, Dated 11/01/2017 *Biju T., Sr. PS SMC-ITA No. 2823/Ahd/2013 The Deesa Survankar Nagrik Sarafi Sahakari Mandali Ltd vs. ACIT AY : 2008-09 3 आदेश क ितिलिप अ ेिषत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. यथ / The Respondent.
3. संबंिधत आयकर आयु / Concerned CIT
4. आयकर आयु (अपील) / The CIT(A)
5. िवभागीय ितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड फाईल / Guard file.
आदेशानुसार/ BY ORDER, TRUE COPY उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपीलीय अिधकरण, अहमदाबाद / ITAT, Ahmedabad