THE COMMISSIONER OF INCOME-TAX vs. M/S JUDICIAL

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ITA/223/2015HC KarnatakaKAHC01030936201501 February 2016Bench: S.SUJATHA,N.K.PATIL4 pages
AI SummaryDismissed

What did the High Court hold?

The High Court accepted the Revenue's submission based on the CBDT circular. The appeal was disposed of as not maintainable, without delving into the substantial question of law.

What were the facts?

The Revenue filed an appeal against an ITAT order that confirmed the exclusion of Section 80P(4) for a credit co-operative society. The Revenue's counsel submitted that the appeal should be disposed of as not maintainable due to a CBDT circular regarding monetary limits.

What were the issues?

The primary issue was whether Section 80P(4) applied to credit co-operative societies, but the appeal was dismissed on procedural grounds.

Which sections of the Income-tax Act were involved?

Section 80P(4)

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 1ST DAY OF FEBRUARY, 2016

:PRESENT: THE HON’BLE MR.JUSTICE N.K. PATIL

AND

THE HON’BLE MRS.JUSTICE S. SUJATHA

I.T.A.NO. 223 OF 2015 Between:

1.

The Commissioner of Income-tax, C.R. Building, Queens Road, Bangalore.

2.

The Income-Tax Officer, Ward-9(1), Jeevan Sampige, 3rd Floor, 1/1, Sampige Road, Malleswaram, Bangalore-560 003. …Appellants (By Sri. K.V. Aravind, Advocate)

And :

M/s. Judicial Department Multipurpose Co-operative Society Ltd., Court Building, Opp. Vidhana Soudha, Vidhana Veedhi, Bangalore-560 001. PAN: AAAAJ 4636N

…Respondent ***

This ITA is filed U/s. 260A of the Income Tax Act, 1961, praying to formulate the substantial question of law, allow the appeal and set aside the orders passed by the Income Tax Appellate Tribunal, ‘A’ Bench, Bangalore, in ITA No. 588/Bang/2013, dated 17/03/2014, confirming the order of the Appellate Commissioner and confirm the order passed by the Income Tax Officer, Ward-9(1), Bangalore.

This ITA coming on for Orders, this day, N.K.PATIL J., delivered the following: :J U D G M E N T:

This appeal by the Revenue is arising out of the impugned order dated 17/03/2014, passed in ITA No. 588/Bang/2013, by the Income Tax Appellate Tribunal, ‘A’ Bench, Bangalore, for considering the following substantial question of law: “Whether, the Tribunal, on the facts and in the circumstances of the case was right in holding that the exclusion clause of sub-section (4) of section 80P will not apply to such cases where the assessee is a credit co-operative society and not a credit co-operative bank by placing reliance on the decision of Gujarat High Court in the case of Jafari momin Co-op Credit Society Ltd and the decision of Tribunal, Bangalore, in the case of M/s. Bangalore Commercial Transport Credit Co-operative Society Ltd and the assessee’s own case for the assessment year 2008-09 and 2009-10 without appreciating the fact that the assessee’s activities falls within the provisions of section 5(b), 6(1)(a),

6(1)(g), 6(1)(k) and 6(1)(a) of the Banking Regulations Act 1949 and the assessee society fulfilled the criteria laid down in section 5(cci) and 5(ccvi) of the Banking Regulations Act, 1949?”

2.

We have heard the learned counsel Sri. K.V.Aravind, appearing for appellants. 3. During the course of submission, learned counsel appearing for appellants submitted, that in the light of the Circular dated 10th December 2015 bearing No.21/2015 issued by the Central Board of Direct Taxes, since the subject matter involved in this appeal is less than Rs.20/- Lakhs, this appeal may be disposed of as not maintainable. 4. The above submission made by learned counsel for the appellants is placed on record. 5. In view of the submission made by learned counsel appearing for appellants and in the light of the Circular dated 10th December 2015 bearing No.21/2015, issued by the Central Board of Direct

Taxes, the appeal filed by the appellants is disposed of as not maintainable. Ordered accordingly.

SD/- JUDGE

SD/-

JUDGE tsn*

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