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of <h1>Appeal allowed for deductions under Section 80(P)(2) - directions for Assessing Officer</h1> <h3>Mohani Timbarva Seva Sahakari Mandali Ltd. Versus D.C.I.T., Circle-2 (1) (1), Surat.</h3> Mohani Timbarva Seva Sahakari Mandali Ltd. Versus D.C.I.T., Circle-2 (1) (1), Surat. - TMI Issues involved:The appeal is against the order of National Faceless Appeal Centre regarding the disallowance of deduction under Section 80(P)(2)(a)(iv) and 80(P)(2)(d) of the Income Tax Act for the Assessment Year 2019-20.Deduction under Section 80(P)(2)(d):The assessee, a cooperative society, claimed deduction of Rs. 96,371 received as dividend or interest income from other cooperative societies. The lower authorities disallowed this deduction without proper verification. The Tribunal directed the Assessing Officer to verify this income and allow the deduction as it is covered by previous decisions.Deduction under Section 80(P)(2)(a)(iv):The assessee also claimed a deduction of Rs. 7,18,939 received from its members under Section 80(P)(2)(a)(iv). However, the complete bifurcation of this amount was not clear from the documents submitted. The Tribunal instructed the Assessing Officer to examine this issue, requesting the assessee to provide detailed evidence and bifurcation. The Assessing Officer was directed to grant a fair opportunity of hearing before making a decision.Conclusion:The appeal of the assessee was allowed for statistical purposes, with directions given to the Assessing Officer to verify and allow the deductions under Section 80(P)(2)(d) and Section 80(P)(2)(a)(iv) after proper examination of the relevant income and documentation.
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