2016 (1) TMI 1316

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....ction so denied/confirmed , being totally contrary to the provisions of law and facts kindly be allowed claimed. 1.2 The ld. CIT(A) erred in law as well as the facts of the case in further confirming the invoking of and misinterpreting the provisions of Sec.80P(4) of the Act and consequently, denying the claim of deduction made by the Society u/s 80P(2)(a)(i) of the Act. The claim of deduction so confirmed/denied, being totally contrary to the provisions of law and facts kindly be allowed as claimed. Alternatively and without prejudice to above, 1.3 The ld. CIT(A) erred in law as well as on the facts of the case in confirming the finding of the AO in considering the assessee neither a Primary Agricultural Credit Society (PACS) nor a Pri....

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....u/s 80P(2)(a)(i) of the Income Tax Act. The Co-ordinate Benches of the ITAT in its earlier decisions for A.Y. 2008-09, 2009-10 & 2010-11 have consistently held that the assessee shall be eligible for deduction u/s 80P(2)(a)(i) of the Act. The relevant findings of the Coordinate Bench in its latest order dated 30.10.2015 in ITA No. 183/JP/14 for AY 2010-11 is contained at para 6 of its order which reads as under: "We have heard the rival contentions of both the parties and perused the material available on the record. This Branch has already considered this issue in ITA No. 999/JP/2011 for A.Y. 2008-09 and ITA No. 177/JP/2013 for A.Y.2009-10. The operative portion of the order dated 11.08.2015 is reproduced as under: " We have heard the ....