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2019 (7) TMI 801 - ITAT COCHINRectification of mistake u/s 154 - Tribunal had directed to grant deduction u/s 80P by merely perusing the certificate issued by the Registrar of Co-operative Societies characterizing the assessee’s as co-operative societies as primary agricultural credit societies - HELD THAT:- The Hon’ble Kerala High Court in the case of Kil Kotagiri Tea & Coffee Estates Co. Ltd. v. ITAT [1988 (7) TMI 54 - KERALA HIGH COURT] had held that when an authority has decided on the basis of a decision of the High Court which is subsequently reversed, there would be a rectifiable mistake coming within the section 154. The Larger Bench of the Hon’ble Kerala High Court in THE MAVILAYI SERVICE CO-OPERATIVE BANK LTD [2019 (3) TMI 1580 - KERALA HIGH COURT] has reversed the dictum laid down by the judgment in the case of Chirakkal Service Co-operative Bank Ltd. [2016 (4) TMI 826 - KERALA HIGH COURT] by holding that the activities of the assessee has to be examined to determine whether the assessee’s are Co-operative societies or cooperative banks. In the light of the Larger Bench judgment of the Hon’ble Kerala High Court, the Tribunal order dated 29.11.2018, suffers from a mistake apparent on record and the same needs to be recalled. The contentions of the assessees that these rectification applications have not been filed within a reasonable date and hence barred by limitation is legally untenable. The order of the Tribunal is dated 29.11.2018 and the miscellaneous applications have been filed within six months from the date of receipt of the Tribunal order by the Commissioner. Hon’ble Supreme Court in the case of Sree Ayyanar Spinning and Weaving Mills Ltd. v. CIT [2008 (5) TMI 22 - SUPREME COURT] had categorically held that it would be sufficient that a miscellaneous application is filed within the period mentioned u/s 254(2) and the same need not be disposed off within the time limit mentioned. The department cannot be faulted for the delay in disposal of the M.A. In the result, the miscellaneous applications filed by the Revenue are allowed.
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