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of <h1>Tax Exemption Under Section 80P Reopened: Cooperative Societies Get Fresh Chance to Present Evidence in Assessment Appeals</h1> <h3>M/s COOPERATIVE CANE DEVELOPMENT COUNCIL ETC. ETC. Versus PR COMMISSIONER OF INCOME TAX</h3> M/s COOPERATIVE CANE DEVELOPMENT COUNCIL ETC. ETC. Versus PR COMMISSIONER OF INCOME TAX - TMI The Supreme Court of India, through Hon'ble Justices Sanjiv Khanna and Bela M. Trivedi, granted leave and remitted the appeals concerning assessment years under the Income Tax Act, 1961, to the Income Tax Appellate Tribunal (ITAT) for fresh adjudication. The Court noted 'lack of clarity on facts and the exemption clause under sub-section 2 to Section 80P' relied upon by the assessee. The appellants were permitted to file additional documents, including statutory rules, within four weeks; the Revenue may respond with documents and written replies within eight weeks thereafter.The Court set aside the impugned orders of the High Court and Tribunal, directing the ITAT to decide the exemption issue under Section 80P 'on merits and in accordance with law without being influenced and being bound by the earlier orders.' It clarified that this would not allow reopening of finalized assessments. The ITAT was urged to dispose of the appeals expeditiously, preferably within eight months, with the next hearing fixed for January 10, 2022. The Civil Appeals and all pending applications were disposed of accordingly.
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