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Income Tax Appellate Tribunal, “A” BENCH : BANGALORE
Before: SHRI N.V. VASUDEVAN & SHRI JASON P. BOAZ
Per N.V. Vasudevan, Judicial Member The appeals in ITA Nos.368 & 369/Bang/2015 are filed by the assessee against the common order dated 10.2.2015 of the CIT(Appeals), Hubli relating to assessment years 2010-11 & 2011-12.
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 2 of 17
These appeals arise out of orders passed by the AO u/s.201(1) &
201(1A) of the Income Tax Act, 1961 (“the Act”). The main grievance projected by the Assessee in these appeals is against the conclusion of the
Revenue authorities that the there was an obligation on the part of the
Assessee to deduct tax at source on payments made to members on time and other deposits where the payment exceeded Rs.10,000 per annum in
the case of each of such depositor u/s.194A of the Act.
The Assessee is a Co-operative Bank carrying on the business of banking. In the course of proceedings u/s.201(1) & 201(1A) of the Act, the
AO noticed that the Assessee had paid interest on deposits from members and payment to each of the depositors exceeded a sum of Rs.10,000/- for
both the Assessment Years.
The AO was of the view that as per the provisions of Sec.194A(1) of the Act, the Assessee who is responsible for paying to a resident any
income by way of interest other than income by way of interest on securities, ought to have at the time of credit of such income to the account
of the payee or at the time of payment thereof in cash or by issue of a
cheque or draft or by any other mode, whichever is earlier, deducted income-tax thereon at the rates in force. Admittedly the Assessee did not
deduct tax at source on the payment of interest on the deposits to members. The AO accordingly initiated proceedings against the Assessee
for treating the Assessee as an Assessee in default u/s.201(1) of the Act
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 3 of 17 for taxes not deducted at source and also proceedings for levy of interest on taxes not deducted u/s.201(1A) of the Act.
The relevant provisions of Sec.194A of the Act, in so far as it is material to the present case, reads as follows:
Sec.194A: Interest other than "Interest on securities". (1) Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of interest other than income by way of interest on securities, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force : (2) ….. (3) The provisions of sub-section (1) shall not apply— (i) where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the person referred to in sub-section (1) to the account of, or to, the payee, does not exceed— (a) ten thousand rupees, where the payer is a banking company to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or banking institution, referred to in section 51 of that Act); (b) ten thousand rupees, where the payer is a co-operative society engaged in carrying on the business of banking; (c) ten thousand rupees, on any deposit with post office under any scheme framed by the Central Government and notified by it in this behalf; and (d) five thousand rupees in any other case: …………………..
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 4 of 17 (ii) to (iv)…….. (v) to such income credited or paid by a co-operative society to a member thereof or to any other co-operative society; (vi) & (vii)…….. (viia) to such income credited or paid in respect of,— (a) deposits with a primary agricultural credit society or a primary credit society or a co-operative land mortgage bank or a co-operative land development bank; (b) deposits (other than time deposits made on or after the 1st day of July, 1995) with a co-operative society, other than a co- operative society or bank referred to in sub-clause (a), engaged in carrying on the business of banking;”
The stand of the Assessee in the proceedings u/s.201(1) & 201(1A) of the Act was that it was a co-operative society carrying on the business of banking and not a co-operative bank. In this regard the Assessee drew attention of the definition of Co-operative Society as given in Sec.2(19) of the Act which reads thus:-
‘Sec.2 (19): "co-operative society" means a co-operative society registered under the Co-operative Societies Act, 1912 (2 of 1912), or under any other law for the time being in force in any State for the registration of co-operative societies ;’
The Assessee drew attention of the Assessing Officer to the Sec.194A(3)(v) of the Act and submitted that co-operative societies have no obligation to deduct tax at source on interest paid to members. The
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Assessee thus took a stand that the entire sum sought to be disallowed was payment of interest to members and therefore there was no obligation to deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act. The Assessee also drew attention of the AO to the decision of the Hon’ble Bombay High Court in the case of The Jalgaon District Central Co- operative Bank Ltd. Vs. Union of India 265 ITR 423 (Bom). In the aforesaid case co-operative societies challenged Circular No.9 of 2002 dated 11th Sept. 2002 issued by the CBDT in the context of obligation to deduct tax at source by co-operative societies. As we have already seen that Sec. 194A of the IT Act, 1961, deals with interest other than interest on securities. Sub-s. (1) of s. 194A mandates deduction of income : tax at source in respect of the income by way of interest whereas sub-s. (3) of s. 194A engrafts an exception to the applicability of the provisions of sub-s. (1). Sec. 194A(3)(v) grants an exemption from TDS to such income credited or paid by the co-operative society to a member thereof or to any other co- operative society. The word "member" used in Sec.194A(3)(v) of the Act according to the petitioner was without any words of limitation. The petitioners contended that the expression "member" is defined in s. 2(19) of the Maharashtra Co-operative Societies Act, 1960. The said definition of "member" includes nominal, associate or sympathiser member also. Under Circular No. 9 of 2002, issued by the CBDT, it is an accepted fact that the provisions of TDS are not enforceable in respect of interest paid by the co- operative society/bank to its members or co-operative societies. But the
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Circular mandated that TDS has to be deducted from the interest paid to
members who have joined in application for the registration of co-operative society and those who are admitted to the membership after registration in
accordance with the bye-laws and rules. The members eligible for
exemption under s. 194A(3)(v) must have subscribed to and fully paid for at least one share of the co-operative bank, must be entitled to participate and
vote in general body meeting or special general body meeting of the co- operative bank and must be entitled to receive share from the profits of the
co-operative bank. Acting upon the aforesaid circular the AO held that
provisions of Sec.194A(3)(v) of the Act are applicable only when the payment of interest is made by a co-operative society to such members
who hold shares and have a right to vote in general body and entitled to share of profits of the co-operative society. Accordingly payment of interest
by a co-operative society to a member who is a nominal member or sympathiser member were held by the AO to be subject to deduction of tax
at source, if such payment to each member exceeded Rs.10,000 in a year.
According to the petitioners before the Hon’ble Bombay High Court, who were co-operative societies, the CBDT cannot issue a circular which is
contrary to the provisions of s. 194A(3)(v) of the IT Act, 1961. The circular
issued by the CBDT deprives the exemption granted by the central enactment and, therefore, the said circular is bad in law and liable to be
quashed and set aside. The petitioner has challenged the circular issued by CBDT. The CBDT has issued the circular by virtue of s. 119 of the IT Act,
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1961. The petitioner has found fault with the authority of CBDT. The power
which has been assumed by CBDT, does not in fact spring from s. 119 of the IT Act, 1961. No doubt, s. 119 of the Act empowers the CBDT to issue
instructions to the subordinate authorities for proper administration of the
Act. Having been aggrieved by the impugned circular co-operative societies filed writ petition under Art. 226 r/w Art. 227 of the Constitution of India and
thereby challenged the validity of the impugned circular and the competency of CBDT to issue a circular contrary to the provisions of
Sec.194A(3)(v) of the Act. The Hon’ble Bombay High Court held that Sec.
194A(3)(v) grants an exemption from TDS to income credited or paid by the co-operative society to a member thereof or to any other co-operative
society. Clause (v) of sub-s. (3) of s. 194A is very lucid and clear in its terms which suggests that the provisions relating to TDS are inapplicable to
the income credited or paid by the co-operative society to the member thereof. The word "member" used in this provision is without any words of
limitation. The expression "member" is not defined in the IT Act, 1961. A
co-operative society has to be established under the provisions of law made by the State legislature. The definition of expression "member" is
given under s. 2(19) of the Maharashtra Co-operative Societies Act, 1960. As per the definition, "member" means a person joining an application for
registration of a co-operative society, which is subsequently registered or a
person duly admitted to membership of a society after registration and includes a nominal, associate or sympathizer member. There is no
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distinction between duly registered member and nominal, associate and
sympathizer member. The impugned circular issued by CBDT, which is in the form of clarification with regard to rights and privileges of a duly
registered member and nominal member is outside the scope of s. 119. No
doubt, s. 119 generates some power in CBDT. But the power so generated by virtue of s. 119 is required to be utilized in a prescribed manner. CBDT
is empowered to issue only administrative instructions to the subordinate authorities for the purpose of proper administration and enforcement of the
provisions of the IT Act, 1961. Under the garb of s. 119 CBDT has crossed
its authority. What is not contemplated in exemption clause under s. 194A(3)(v), cannot be imported to deprive the exemption granted to co-
operative society by issuing the impugned circular. By impugned circular, the co-operative society cannot be deprived of its right of exemption given
under IT Act, 1961. The CBDT has overstepped its authority and has issued the impugned circular directly in conflict with the provisions
contained in s. 194A(3)(v). Sec. 119 does not at all support the action of
CBDT. CBDT has no authority to make a crack in the exemption clause contained in s. 194A(3)(v), by issuing the impugned circular. The CBDT
cannot usurp the powers of Parliament by virtue of s. 119. The CBDT, under the garb of s. 119, cannot exercise wider powers than the powers
bestowed on it. The CBDT has no power to introduce a substantial change
or alteration in the provisions of the IT Act, 1961, by importing the ideas unknown to the IT Act, 1961. The impugned circular, therefore, does not
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stand to the legal test. The impugned circular No. 9 of 2002, dt. 11th Sept.,
2002 was accordingly quashed and set aside.
The Assessee thus submitted that there was no obligation on its part to deduct tax at source on the aforesaid sums which was interest paid to its
members.
The AO however did not accept the plea of the Assessee for the following reasons:-
Under the Act different benefits are given to different co-operative societies depending upon the nature of a particular co-operative society. According to the AO, Sec.194A(3)(v) of the Act was a general provision granting benefit to all co-operative societies. But Sec.194A(3)(i)(b) of the Act specifically provides that a co-operative society carrying on the business of banking, if it pays interest on deposits exceeding Rs.10,000 then it has to deduct tax at source. He held that specific provisions will override general provisions and therefore the Assessee being a co-operative society engaged in the business of banking had to deduct tax at source on payment of interest in excess of Rs.10,000/-. 2. The AO placed strong reliance on the Single Member decision of the ITAT in the case of Bhagani Nivedita Sah Bank Ltd. Vs. ACIT 87 ITD 569 (Pune) wherein it was held that from perusal of s. 194A that wherever the term ‘co-operative society' is used intending thereby to include a co-operative society engaged in carrying on the business of banking, it is so specifically mentioned. In other words, wherever the provision applies to a co-operative bank, there is specific mention to that effect. In all other places, it can be inferred that the term 'co-operative society' does not include co-operative banks. This kind of presumption is required to be made because, as demonstrated by the AO, there arises a conflict between two provisions viz., cl. (v) and cl. (viia), if such interpretation is not adopted. The co-operative society as mentioned in cl. (v) is a general species, whereas the other five categories of co-operative societies which are specifically referred to in other provisions are specific co-operative societies, meaning thereby, they are specific species. It is a settled principle of interpretation that when a conflict
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occurs between a specific provision of the law vis-a-vis the general provision of the law, then, precedence will have to be given to the specific provision of the law. Therefore, in view of the above it becomes necessary that the term co-operative society in cl. (v) be interpreted as co-operative society other than co-operative bank. The Tribunal drew support for its conclusion as above from the decision of the Hon’ble Kerala High Court in the case of Moolamattom Electricity Board Employees' Co-operative Bank Ltd. vs. ITO 238 ITR 630 (Ker). 3. In the case of Moolamattom electricity Board Employees Co- operative Bank Ltd. (supra), the petitioners were primary credit societies registered under the Kerala Co-operative Societies Act and they challenged the applicability of Sec.194A of the Act on the interest paid by it on deposits received by them in view of the specific provisions of Sec.194A(3(viia) of the Act. It was submitted by the petitioner that sub-s.194A(3)(v) deals with such income credited or paid by a co-operative society to a member whereas sub- s. (3)(viia)(a) provides a total exemption to deposits with the primary credit society. Petitioners are primary credit societies and, therefore, there is exemption towards deduction in respect of income credited or paid for the deposits. Their claim of exemption is reinforced and made clear by a reading of sub-s. (3)(viia)(b) wherein deposits with the primary credit society referred in sub-cl. (a) engaged in carrying on the business activity are exempted. The Hon’ble Kerala High Court accepted their plea and in their judgment have observed that Sec.194A (3)(i) exemption limit of Rs. 10,000 to interest paid on time deposits with co-operative societies engaged in carrying on business of banking is allowed but that does not mean that all co-operative societies who have credited or paid exceeding Rs. 10,000 are liable to deduct tax at source. The Court held that co-operative society engaged in carrying on business of banking and primary credit societies stand on different footing and belong to different class. 4. In para-37 of its judgment the Pune ITAT in the case of Bhagani Nivedita Sah Bank Ltd. (supra) the learned Single member has observed that it is amply clear as per Hon'ble High Court of Kerala in the case of Moolamattom’s case (supra)that the exemption under s. 194A(3)(viia)(b) is available to primary credit co-operative society and said society cannot be classified or equated with the co- operative society engaged in the banking business to which provisions of deduction of tax at source are applicable. 5. The AO also distinguished the decision rendered by the Hon’ble Bombay High Court in the case of Jalagon District Central Co- operative Bank (supra) as a case in which the question was only
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with regard to the question whether “member” referred to in Sec.194A(3)(v) of the Act can be confined to “regular member” and not to a nominal member and therefore not relevant for the purpose of deciding the issue under consideration in Assessee’s case.
For the above reasons, the AO held that the Assessee was under an obligation to deduct tax at source on interest paid u/s.194A(1) of the Act and since the Assessee failed to so deduct tax at source, the Assessee was liable to be treated as an Assessee in default u/s.201(1) of the Act and was also liable to pay interest on tax not deducted at source u/s.201(1A) of the Act.
On appeal by the Assessee the CIT(A) upheld the order of the Assessing Officer. Aggrieved by the order of the CIT(A), the revenue has preferred the present appeals before the Tribunal.
We have heard the rival submissions. At the time of hearing of the appeal, it was brought to our notice by the learned counsel for the Assessee that the Bangalore Bench of ITAT in the case of Bagalkot
District Central Co-op Bank, Vs. JCIT (2014) 48 Taxmann.com 117
(Bangalore-Trib) held that co-operative societies carrying on banking
business while paying interest to members on time deposits and deposits other than time deposits need not deduct tax at source u/s.194-A of the Act by virtue of exemption granted u/s.194A(3)(v) of the Act. The learned DR relied on the orders of the revenue authorities.
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 12 of 17 14. We have considered the rival submissions. This tribunal in the case of Bagalkot District Central Co-operative Bank (supra) dealt with
identical issue and identical stand taken by the revenue and the Assessee in the case of co-operative society engaged in banking business and have upheld identical order of CIT(A). The relevant observations of the Tribunal in this regard were as follows:-
“15. We have given a very careful consideration to the rival submissions. We are of the view that the submissions made by the learned counsel for the Assessee deserves to be accepted. As rightly contended by him Sec.194A(3)(i)(b) of the Act is a provision which mandates deduction of tax at source by a co- operative Society carrying on the business of banking, where the income in the form of interest which is paid by such society is in excess of ten thousand rupees. Sec.194A(3)(v) of the Act provides that tax need not be deducted at source where the income in the form of interest is credited or paid by a co- operative society to a member thereof or to any other co- operative society. This provision therefore applies to all co- operative societies including co-operative society engaged in the business of banking. It is not possible to exclude co-operative society engaged in the business of banking from the provisions of Sec.194A(3)(v) of the Act on the ground that the same is covered by the provisions of Sec.194A(3)(i)(b) of the Act. Sec.194A(3)(v) of the Act refers to payment by a co-operative Society to a member and payment by a co-operative society to non-member would continue to be governed by the provisions of Sec.194A(3)(i)(b) of the Act. Similarly u/s.194A(3)(viia)(b) interest on deposits other than time deposits even if the payment is made to a non-member by a co-operative society, the co- operative society need not deduct tax at source. Thus this section carves out another exception to Sec.194A(3)(i)(b) of the Act. We do not think that any of the above provisions can be called a general provision and other provisions called specific provisions. Each provision over-lap and if read in the manner as indicated above, there is perfect harmony to the various provisions. We do not agree with the view expressed by the Pune ITAT SMC in the
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 13 of 17 case of Bhagani Nivedita Sahakari Bank Ltd. (supra) when it says that Co-operative society as mentioned in cl. (v) is a general species, whereas the other five categories of co-operative societies which are specifically referred to in other provisions are specific co-operative societies. The further conclusion in the said decision that the term ‘co-operative society’ in cl. (v) of s. 194A(3) has to be interpreted as co-operative society other than co-operative bank, is again unsustainable. The law is well settled that by a process of interpretation one cannot add on words that are not found in the text of the statute. Such a course is permitted only when there is “causus omisus”. We do not think that the provisions of Sec.194A(3)(v) suffers from any causus omisus as has been interpreted by the ITAT Pune Bench SMC. 16. We are also of the view that the decision of the Hon’ble Kerala High Court in the case of Moolamattom Electricity Board Employees Co-op Bank Ltd. (supra) supports the plea of the Assessee before us. The petitioners in that case were primary credit societies registered under the Kerala Co-operative Societies Act. In view of the specific provisions of Sec.194A(3(viia) of the Act, they claimed that they need not deduct tax at source on interest paid. It was submitted by the petitioner that sub- s.194A(3)(v) deals with such income credited or paid by a co- operative society to a member whereas sub-s. (3)(viia)(a) provides a total exemption to deposits with the primary credit society. The Hon’ble Kerala High Court accepted their plea and in their judgment have observed that Sec.194A (3)(i) exemption limit of Rs. 10,000 to interest paid on time deposits with co- operative societies engaged in carrying on business of banking is allowed but that does not mean that all co-operative societies who have credited or paid exceeding Rs. 10,000 are liable to deduct tax at source. The Court held that co-operative society engaged in carrying on business of banking and primary credit societies stand on different footing and belong to different class. That does not mean that Sec.194A(3)(v) of the Act is applicable only to Co- operative Societies other than co-operative societies carrying on the business of banking as observed in para-37 of its judgment the Pune ITAT in the case of Bhagani Nivedita Sah Bank Ltd. (supra). In fact in para-2 of Circular No.9 dated 11.9.2002, the CBDT has very clearly laid down that Co-operative societies carrying on banking business when it pays interest on deposits by
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its members need not deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act. 17. We also find that the CBDT in Circular No.9 dated 11.9.2002 clarified certain aspects which are relevant to the present case. The same reads thus: “Circular No.9 of 2002 “Sub : Tax deduction at source under section 194A of the Income-tax Act, 1961 —Applicability of the provisions in respect of income paid or credited to a member of co-operative bank—Reg. 11/09/2002 TDS 194A Under section 194A of the Income-tax Act, 1961, tax is deductible at source from any payment of income by way of interest other than income by way of interest on securities. Clause (v) of sub-section (3) of section 194A exempts such income credited or paid by a co-operative society to a member thereof from the requirement of TDS. On the other hand, clause (viia) of sub-section (3) of section 194A exempts from the requirement of TDS such income credited or paid in respect of deposits (other than time-deposits made on or after 1st July, 1995) with a co- operative society engaged in carrying on the business of banking. 2. Representations have been received in the Board seeking clarification as to whether a member of a co- operative bank may receive without TDS interest on time deposit made with the co-operative bank on or after 1st July, 1995. The Board has considered the matter and it is clarified that a member of a co-operative bank shall receive interest on both time deposits and deposits other than time deposits with such co-operative bank without TDS under section 194A by virtue of the exemption granted vide clause (v) of sub-section (3) of the said section. The provisions of clause (viia) of the said sub- section are applicable only in case of a non-member depositor of the co-operative bank, who shall receive interest only on deposits other than time deposits made on or after 1st July, 1995 without TDS under section 194A.
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A question has also been raised as to whether normal members, associate members and sympathizer members are also covered by the exemption under section 194A(3)(v). It is hereby clarified that the exemption is available only to such members who have joined in application for the registration of the co- operative society and those who are admitted to membership after registration in accordance with the bye-laws and rules. A member eligible for exemption under section 194A(3)(v) must have subscribed to and fully paid for at least one share of the co-operative bank, must be entitled to participate and vote in the General Body Meetings and/or Special General Body Meetings of the co-operative bank and must be entitled to receive share from the profits of the co-operative bank. [F. No. 275/106/2000-IT(B)] (2002) 177 CTR (St) 1”
It can be seen from para-2 of the Circular referred to above that the CBDT has very clearly laid down that Co-operative societies carrying on banking business when it pays interest on deposits by its members need not deduct tax at source. The above interpretation of the provisions by the CBDT which is in favour of the Assessee, in our view is binding on the tax authorities. 19. In the case decided by ITAT Panaji Bench in ITA No.85/PN/2013 for AY 09-10 in the case of The Bailhongal Uraban Co-op Bank Ltd. Vs. JCIT order dated 28.8.2013, the tribunal proceeded on the footing that the aforesaid circular has been quashed by the Hon’ble Bombay High Court in the case of The Jalgaon District Central Co-operative Bank Ltd. Vs. Union of India 265 ITR 423 (Bom) and therefore chose to follow the decision rendered by Pune ITAT SMC in the case of Bhagani Nivedita Sahakari Bank Ltd. (supra). In our view the Hon’ble Bombay High Court in the case of Jalgaon District Central Co- operative Bank Ltd.’s case was dealing with a case of challenge to para-3 of CBDT Circular No.9 dated 11.9.2002 which tried to interpret the word “member” as given in Sec.194A(3)(v) of the Act. It is only that part of the Circular that had been quashed by the Hon’ble Bombay High Court and the other paragraphs of the
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 16 of 17 Circular had no connection with the issue before the Hon’ble Bombay high Court. How could it be said that the entire circular has been quashed by the Hon’ble Bombay High Court? In our view para-2 of the Circular still holds good and the conclusion of the ITAT Pune Bench in the case of The Bailhongal Uraban Co- op Bank Ltd.(supra) are not factually correct. Consequently, the conclusions drawn in the aforesaid decision also contrary to facts and hence cannot be considered as precedent. 20. The learned counsel for the Assessee has brought to our notice that the ITAT Vishakapatnam Bench in the case of The Visakhapatnam Co-operative Bank ITA No.5 and 19 of 2011 order dated 29.8.2011 has held that co-operative societies carrying on banking business when it pays interest to its members on deposits it need not deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act. Similar view has also been expressed by the Pune Bench of the ITAT in the case of Ozer Merchant Co-operative Bank ITA No.1588/PN/2012 order dated 30.10.2013. We may add that in both these decisions the discussion did not turn on the interpretation of Sec.194A(3)(i)(b) of the Act vis-a-vis Sec.194A(3)(v) of the Act. It is thus clear that the preponderance of judicial opinion on this issue is that co- operative societies carrying on banking business when it pays interest to its members on deposits need not deduct tax at source in view of the provisions of Sec.194A(3)(v) of the Act. 21. For the reasons given above, we hold that the Assessee which is a co-operative society carrying on banking business when it pays interest income to a member both on time deposits and on deposits other than time deposits with such co-operative society need not deduct tax at source under section 194A by virtue of the exemption granted vide clause (v) of sub-section (3) of the said section.”
In our view, the above decision rendered by the co-ordinate bench is squarely applicable to the facts of the present case. Respectfully following the decision of the co-ordinate bench referred to above, we set aside the
ITA Nos.368 & 369/Bang/2015 & SP Nos.51 & 52/Bang/2015 Page 17 of 17 orders of the lower authorities and hold that to the extent interest is paid to members of the society there is no obligation to deduct tax at source.
In view of the appeals being allowed, the stay petitions do not require any consideration and they are dismissed as infructuous.
In the result, the appeals by the assessee are allowed, while the stay petitions are dismissed.
Pronounced in the open court on this 10th day of July, 2015.
Sd/- Sd/-
( JASON P. BOAZ ) ( N.V. VASUDEVAN ) Accountant Member Judicial Member
Bangalore, Dated, the 10th July, 2015.
/D S/
Copy to:
Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR, ITAT, Bangalore. 6. Guard file
By order
Assistant Registrar/ Senior Private Secretary ITAT, Bangalore.