9911796707
TMI Blog2019 (7) TMI 710X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble Division Bench (supra) b) If the SLPs are in favour of the Revenue, the impugned orders will stand revived and law will take its course. If the aforesaid scenario unfolds, it is open to the writ petitioner assessee to take all objections and defences available to section 148 notice including calling for reasons and limitation. c) If the SLPs end in favour of assessees and if the aforesaid Hon'ble Division Bench orders are confirmed or if the Hon'ble Supreme Court refuses to interfere with the orders of the High Court, all the four impugned notices will stand set aside without further reference to this Court. d) Though obvious it is made clear that this order pertains to benefit u/s 80-P of IT Act qua writ petitioners covered by Hon'ble Division Bench orders against which Revenue submits that SLPs have been filed before Hon'ble Supreme Court and therefore, this order will not preclude Revenue from proceeding against writ petitioners in a manner known to law with regard to other issues, if any. - W.P.Nos.16869, 16877, 16882 and 16893 of 2019 And W.M.P.Nos.16458, 16459, 16465, 16466, 16469, 16472, 16481 and 16483 of 2019 - - - Dated:- 18-6-2019 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itioner assessees to file returns for the Assessment years mentioned therein. g) Contending that a Hon'ble Division Bench of this Court, has held that Cooperative Societies akin to the writ petitioners are entitled to the benefit of Section 80P, instant writ petitions have been filed, assailing the impugned notices. 7. The sheetanchor submission of learned counsel for writ petitioner in each of these five writ petitions is that a Division Bench of this Hon'ble Court, in an order dated 02.08.2016 made in Tax Case Appeal Numbers.484 to 487 and 490 of 2016, has held that Cooperative Societies akin to those of writ petitioners are entitled to the benefit of Section 80P of IT Act. 8. Adverting to the aforesaid order of Hon'ble Division Bench, learned counsel submitted that questions of law, which were entertained by the Hon'ble Division Bench are adumbrated in paragraph 5 of the said order, which reads as follows: '5. Aggrieved by the order of the Income Tax Appellate Tribunal, the appellants have filing these appeals, on raising the following substantial questions of law:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... '8. In the case of ITO Vs. M/s. Veerakeralam Primary Agricultural Co-operative Credit Society in ITA No.197/Mds/2013 dated 11.02.2014, the Tribunal dismissed the appeal of the Revenue. Against the order of the Income Tax Appellate Tribunal, the aforesaid Veerakeralam Primary Agricultural Co-operative Credit Society filed an appeal under Section 260A of the Income Tax Act, 1961, in T.C.A. Nos. 735, 755 of 2014 and 460 of 2015 before this Court. By judgment dated 05.07.2016, the appeals were dismissed, on the following reasoning: 13. Sub-section (4) of Section 80P of the Income Tax Act, 1961 is extracted below : (4) The provisions of this section shall not apply in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank. Explanation For the purposes of this subsection --- (a) co-operative bank and primary agricultural credit society shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act, 1949 (10 of 1949); (b) primary co-operative agricultural and rural develo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t society. Hence, the appeals are accordingly dismissed.' 11. There is no disputation or disagreement before this Court that the aforesaid order of Hon'ble Division Bench and the ratio therein would apply to the writ petitioner in each of these cases. 12. Therefore, it would follow as a natural sequitur that it would serve no useful purpose in allowing the impugned notices to proceed further as ultimately the authorities will stand bound by the ratio / rationale laid by the Hon'ble Division Bench. 13. However, learned counsel for Revenue, raises two submissions in this regard. 14. First submission is on limitation. This first submission is that the aforesaid order of the Hon'ble Division Bench as well as other orders passed by Hon'ble Division Benches of this Court on the same aspect i.e., benefit of Section 80P of Income Tax Act to Cooperative Societies is being carried further to Hon'ble Supreme Court by way of Special Leave Petitions. In other words, it is the specific case and stated position of the learned Revenue counsel that the IT department, has not given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivision Bench of this Court particularly order dated 02.08.2016 in Tax Case Appeal Nos.484- 487 and 490 of 2016. b) Subject to the outcome of the aforesaid Special Leave Petitions, i.e., if the Special Leave Petitions are in favour of the Revenue, the impugned orders will stand revived and law will take its course. If the aforesaid scenario unfolds, it is open to the writ petitioner assessee to take all objections and defences available to section 148 notice including calling for reasons and limitation. c) If the Special Leave Petitions end in favour of assessees and if the aforesaid Hon'ble Division Bench orders are confirmed or if the Hon'ble Supreme Court refuses to interfere with the orders of the High Court, all the four impugned notices will stand set aside without further reference to this Court. d) Though obvious it is made clear that this order pertains to benefit under Section 80-P of IT Act qua writ petitioners covered by Hon'ble Division Bench orders against which Revenue submits that SLPs have been filed before Hon'ble Supreme Court and therefore, this order will not preclude Revenue from proceeding aga ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
