GRANITE MART LIMITED,BANGALORE vs. ITO, BANGALORE

PDF · subscribers
ITA 1166/BANG/2016Status: DisposedITAT Bangalore16 September 2016AY 2010-113 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found no reason to interfere with the CIT(A)'s orders as the Revenue could not demonstrate that the favorable High Court judgments were overturned or stayed by the Supreme Court. No factual distinctions were presented by the Revenue.

What were the facts?

The Revenue filed appeals against orders of the CIT(A) which granted relief to the assessee, a Co-operative Society, for deduction under Section 80P(2)(a)(i). The Revenue contended that SLPs were filed against similar High Court judgments but these were neither stayed nor reversed.

What were the issues?

Whether the assessee, a Co-operative Society, is eligible for deduction under Section 80P(2)(a)(i) despite the Revenue's pending SLPs against similar High Court judgments.

Which sections of the Income-tax Act were involved?

Section 80P

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘SMC’, BANGALORE

Before: SHRI A.K.GARODIA, ACCOUNANT MEMBER

For Appellant: Shri Vasanth Kumar, C. A
For Respondent: Shri Tshering Ongda, JCIT

O R D E R PER A. K. GARODIA, A.M.:

All these four appeals are filed by the revenue. These are directed against four separate orders of learned CIT (A), Davangere all dated 26.02.2016 for A. Y. 2009 – 10 to 2012 – 13 and for the sake of convenience, all these are being disposed of by this common order.

2.

In all these appeals, the only grievance of the revenue is about relief allowed by learned CIT (A) by holding that the assessee is eligible for deduction u/s 80P (2) (a) (i).

3.

Learned DR of the revenue supported the assessment orders.

4.

Learned AR of the assessee supported the orders of CIT (A). He also submitted that learned CIT (A) has followed the judgment of Hon’ble Karnataka High Court rendered in the case of Tumkur Merchants Souharda Credit Co Operative Limited vs. ITO in of 2014 Dated 28.10.2014.

5.

I have considered rival submissions. I find that as per the grounds of appeal raised by the revenue, the case of the revenue is this that in two cases, SLP has been filed by the Department in supreme Court against two judgments of Hon’ble Karnataka High Court rendered on similar issue but this is not a case of the department that these judgments of Hon’ble Karnataka High Court are reversed or stayed by Hon’ble Apex Court. No difference in facts also is pointed out by the learned DR of the revenue.

Hence, I find no reason to interfere in the orders of learned CIT (A).

6.

In the result, all the four appeals of the revenue are dismissed.

Order pronounced in the open court on the date mentioned on the caption page.

More judgments on Section 80P

All 5,069 judgments and leading authorities on Section 80P →

Recent GST High Court judgments

Search GST case law →