2020 (2) TMI 978

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.....R Revenue by: Shri M.S.A Khan, C.I.T.D.R ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Principal Commissioner of Income Tax, Vadodara-2, dated 02/03/2017 (in short "Ld. PCIT") arising in the matter of assessment order passed under s. 143(3) of the Income Tax Act, 1961 (here-in-after refer....

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....cial to the interest of Revenue on account of deduction allowed under section 80P(2)(a)(i) of the Act for Rs. 21,44,284.00 only. 3. The facts in brief are that the assessee in the present case is a co-operative society and engaged in the activity of providing credit facilities to its members. The assessee in the year under consideration claimed a deduction of Rs. 21,44,284.00 under section 80P(....

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....ction to the assessee claimed under section 80P(2)(a)(i) of the Act for Rs. 21,44,284.00 vide order dated 23-06-2017. 3.4 The assessee against the order dated 23-06-2017 framed by the AO under section 143(3) read with section 263 of the Act preferred an appeal to the learned CIT (A) who was pleased to grant the deduction to the assessee under section 80P(2)(a)(i) of the Act for Rs. 21,44,284 vi....

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....263 of the Act as discussed above. Accordingly he submitted that the appeal filed against the order of the learned PCIT under section 263 of the Act is not required to be adjudicated. 5. The learned DR has not brought anything on record contrary to the submissions made by the learned AR for the assessee. But he relied on the order of the ld. PCIT. 6. Heard the rival contentions of both the p....