THE OZHUR SERVICE CO-OP BANK LTD,MALAPPURAM vs. THE ITO WARD TDS, KOZHIKODE

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ITA 366/COCH/2023Status: DisposedITAT Cochin25 September 2024Bench: Shri Satbeer Singh Godara (Judicial Member), Shri Amarjit Singh (Accountant Member)2 pages

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

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the late filing fees levied were not applicable as the relevant quarters were prior to the amendment of Section 234E. There was no indication of retrospective application of the amended provision.

What were the facts?

The assessee, Ozhur Service Co-op. Bank Ltd., appealed against the levy of late filing fees under Section 234E of the Income Tax Act for various assessment years. The appeals pertained to quarters falling before the amendment to Section 234E effective from June 1, 2015.

What were the issues?

The primary issue was the applicability of the amended Section 234E, specifically the late filing fee, to quarters that predated the amendment's effective date.

Which sections of the Income-tax Act were involved?

Section 200A,Section 234E

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Satbeer Singh Godara & Shri Amarjit Singh

For Appellant: Shri C.A. Jojo, Advocate
For Respondent: Smt. Swarnalatha, Sr. D.R
Hearing: 12.12.2024Pronounced: 25.09.2024

Appellant by: Shri C.A. Jojo, Advocate Respondent by: Smt. Swarnalatha, Sr. D.R. Date of Hearing: 12.12.2024 Date of Pronouncement: 25.09.2024 O R D E R Per: Bench This instant batch of six appeals in to 368 & 374/ Coch/2023 pertains to a single assessee herein i.e. The Ozhur Service Co-operative Bank Ltd. All other related details stand tabulated hereunder: - DIN & Order No. / Proceedings No. all dated 16.03.2023 under section 1 364/Coch/2023 2014-15 ITBA/NFAC/S/250/2022- 201 23/1050836602(1) 2 365/Coch/2023 2015-16 ITBA/NFAC/S/250/2022- 201 23/1050837137(1) 3 366/Coch/2023 2015-16 ITBA/NFAC/S/250/2022- 201 23/1050836994(1) 4 367/Coch/2023 2014-15 ITBA/NFAC/S/250/2022- 201 23/1050836790(1) 5 368/Coch/2023 2013-14 ITBA/NFAC/S/250/2022- 201(1A) 23/1050836130(1) 6 374/Coch/2023 2015-16 ITBA/NFAC/S/250/2022- 201 23/1050837424(1) Heard both parties at length. Case files perused. to 368 & 374/Coch/2023 Ozhur Service Co-op. Bank Ltd.

2.

It emerges at the outset that both the learned lower authorities have levied the ‘late filing fee’ u/s. 200A r.w.s. 234E of the Act as amended vide Finance Act, 2015 w.e.f. 01.06.2015, involving varying sums, which form subject matter of adjudication in the instant six appeals of the assessee.

3.

Learned Sr. DR could hardly rebut the clinching fact that all the relevant quarters involved herein are for the period well before the clinching date, i.e. 01.06.2015. There is also not material indicating the applicability of the amended provision in s. 234E of the Act with retrospective effect. We thus hold that the impugned late filing fee, which forms subject matter of dispute in all the cases, deserves to be deleted on this precise ground alone. Ordered accordingly.

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