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TMI Blog2016 (3) TMI 1065X X X X Extracts X X X X X X X X Extracts X X X X ..... he I.T.Act, 1961 is justified and in accordance with law. - ITA No(s) 3301/Ahd/2015, 54/Ahd/2016, 3302/Ahd/2015, 3671/Ahd/2015 - - - Dated:- 19-2-2016 - SHRI GEORGE GEORGE K., JUDICIAL MEMBER For The Assessee : Shri Jyotish M.Shah, AR For The Revenue : Shri Kamlesh Makwana, Sr.DR ORDER These cross-appeals by the Revenue and Assessee are directed against the separate orders of the Commissioner of Income-tax (Appeals)-2, Ahmedabad dated 27/10/2015 28/10/2015 for Assessment Years (AYs) 2011-12 2012-13 respectively. Since common issues are raised in these appeals and pertain to the same assessee, these were heard together and are being disposed of by way of this consolidated order for the sake of convenience. 2. Fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trovert the submission made by the ld.counsel for the assessee. 4. I have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below as well as the decision relied upon by the ld.counsel for the assessee. The Tribunal, under the identical facts and circumstances of the case, has held that the security deposit collected from its members which is refundable and does not partake the character of income. The relevant finding of the Tribunal contained in para-5 in assessee s own case passed for AY 2008-09(supra) reads as follows:- 5. We have heard the rival submissions, perused the material available on record and gone through the orders of the authorities below. The Revenue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taxable income. Therefore, respectfully following the judgement of the Hon ble Apex Court in the case of Siddheshwar Sahakari Sakhar Karkhana Ltd., we are of the considered view that the security deposits as received by the assessee-club cannot be subjected to tax. Accordingly, we find no merit in this ground of the Revenue s appeal, same is rejected. 4.1. In view of the aforesaid decision of the Coordinate Bench, I hold that the refundable security deposit collected is not liable to be taxed income of the assessee. It is ordered accordingly. As a result, ground Nos.1 to 3 raised in the assessee s appeal are allowed. 5. The second issue raised in ground No.4 is with regard to confirmation of disallowance of ₹ 1,44,869/- made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same cannot be taxed. In view of the finding of the Tribunal, I hold that the ground raised in Departmental appeal is to be dismissed. 9. In the result, the appeal of the Revenue, i.e. ITA No.54/Ahd/2016 for AY 2011-12 is dismissed. 10. Lastly, I take up the Assessee s appeal in ITA No.3302/Ahd/2015 and Revenue s appeal in ITA No.3671/Ahd/2015 for AY 2012- 13:- [A] Assessee s appeal for AY 2012-13:- Ground Nos.1 to 3 raised in Assessee s appeal (i.e. in ITA No.3302/Ahd/2015) are identical to the grounds as were raised in ITA No.3301/Ahd/2015 for AY 2011-12(assessee s appeal-supra). My findings rendered in ITA No.3301/Ahd/2015 for AY 2011-12 regarding the same will hold good for this assessment year also. Therefore, g ..... X X X X Extracts X X X X X X X X Extracts X X X X
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