TaxTMI 
TaxTMI 
2019 (4) TMI 207
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....m of Affidavit in contravention of Rule 46A since the Assessing Officer was not provided with an opportunity to examine the contents of the Affidavit filed by the assessee. (2) In the facts and circumstances of the case, the CIT(Appeals) erred in accepting as correct the affidavit of the assessee without examining the Balance-sheet wherein, the category of members dealt with by the assessee society clearly indic ted that the assessee is not doing business with members alone. (3) The Id. CIT(A) failed to consider the remand report dated 24/05/2013 submitted by the AO wherein it was submitted that though opportunity was given to the assessee vide his letter dated 29.04.2013 the assessee has not complied to substantiate its claim regarding....
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.... in the matter of Citizen Cooperative Society v. ACIT [397 ITR 1], wherein at para 24, it was held as under : 24) Undoubtedly, if one has to go by the aforesaid definition of 'co-operative bank', the appellant does not get covered thereby. It is also a matter of common knowledge that in order to do the business of a co-operative bank, it is imperative to have a licence from the Reserve Bank of India, which the appellant does not possess. Not only this, as noticed above, the Reserve Bank of India has itself clarified that the business of the appellant does not amount to that of a co-operative bank. The appellant, therefore, would not come within the mischief of subsection (4) of Section 80P. It was the case of the Ld. DR that the assessee....