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Income Tax Appellate Tribunal, BANGALORE BENCH-SMC “ C ”
Before: SHRI VIJAY PAL RAO
Per Shri Vijay Pal Rao, J.M. : This appeal by the assessee is directed against the order dt.18.03.2016 of Commissioner of Income Tax (Appeals)-4, Bangalore for the Assessment Year 2009-10.
The revenue has raised the following grounds :
3. At the outset it was pointed out that this appeal has arisen from the assessment order passed in pursuant to the revision order under Section 263 of the Income Tax Act, 1961 (in short 'the Act') dt.27.3.2014. The CIT (Appeals) has deleted the addition / disallowance made by the Assessing Officer by noting the fact that the Tribunal has already quashed revision order under Section 263 dt.27.3.2014. It is noted that the Tribunal vide order dt.14.8.2015 in has quashed the revision order passed under Section 263 in pars 7 & 8 as under :
7. In the recent judgment dt.5.22014 of the Hon'ble High Court of Karnataka in CIT V. Sri Biluru Gurubasava Pattina Sahakari Sangha NIyamitha Bagalkot in dt.5.2.2014, the Hon'ble jurisidictional High Court took the view that when the status of the assessee is a co-operative society and not a co-operative bank, the order passed by the Assessing Officer extending the benefit of exemption from payment of tax 80P(2)(a)(i) of the Act is correct and such an order is not erroneous and therefore, jurisdiction under Section 263 of the Act cannot be invoked.
8. In view of the aforesaid decision, we are of the view that the order under Section 263 denying the deduction under Section 80P(2)(a)(i) of the Act holding that assessee as a co-operative bank cannot be sustained and the same is quashed.”
Since the revision order passed under Section 263 has already been quashed by the Tribunal therefore the assessment order passed in pursuant to the revision order will not survive. Accordingly, I do not find any error or illegality in the impugned order of the CIT (Appeals). 4. In the result, the appeal of the revenue is dismissed.
Order pronounced in the open court on 19th May, 2017.