TaxTMI 
TaxTMI 
2021 (8) TMI 1081
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.... circumstances of the case and in law the Ld. CIT (A) was justified in holding that the Registrar of Co-operative Housing Society had not cancelled the registration of the Housing Society on the alleged violation of principle of mutuality or bye law, without appreciating the facts that cooperative bank is a commercial bank and does not fall under the purview of a "Co-operative Society" referred in section 80P(2)(d) of the Income tax Act, 1961". 3. "Whether on the facts and circumstances of the case and in law the Ld. CIT (A) was justified in holding that the Registrar of Co-operative Housing Society had not cancelled the registration of the Housing Society on the alleged violation of principle of mutuality or bye law, without appreciating the facts that the assessee has made deposits out of money received against redevelopment agreement and from different channels which is not the specified activity of the society and is not qualified for deduction u/s.80P(2)(c) of the Act". 4. "The appellant prays that the order of the CIT(A) on the above grounds be set aside and that of the Assessing Officer be restored." 4. Brief facts the assessee is a Co-Operative Housing ....
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....he claim of the appellant has been allowed by CIT(A) and the same has been upheld by the Hon'ble Tribunal vide order dated 17/02/2017. 7. On the issue of deduction u/s 80P(2)(d), the appellant placed reliance on various decisions of the Mumbai ITAT in case of Lands End CHSL, Sea Grean CHSL, Merwanje Cama Park CHSL etc. It was also submitted that in the A.Y. 2011-12, the claim of the appellant has been allowed by CIT(A) and the same has been upheld by the Hon'ble Tribunal vide order dated 17/02/2017. 7. The learned CIT(A) decided the issue in favour of the assessee by holding as under :- "8. I have carefully perused the facts highlighted in the assessment order, the written submission filed by the appellant during appellate proceedings and various judicial pronouncements available on the issues under appeal. My observations and findings are as under: 9. In AY 2011-12, the ITAT Mumbai in ITA No. 1099/Mum/2016 vide order dated 17.02.2017 has dismissed the appeal of the Department and, confirmed the order of the CIT(A) on both the issues. The ITAT has held that Rs. 11.60 crore and interest of Rs. 1.43 crore was not received by the assessee and henc....
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..... 1,43,75,000/- on accrual basis in AY 2012-13 and hence the same is deleted. It is also held that the AO was not justified in denying deduction of Rs. 63.95.051/- u/s 80P(2)(d) in AY 2012-13. Hence, the deduction of Rs. 63,95,051/- is hereby allowed. It is also held that the appellant is eligible for deduction of Rs. 50,000/- u/s 80P(2)(c)(ii) as the same is a statutory deduction. So far calculation of interest u/s 234C is concerned, it is held that the same is to be calculated on return income and not on the assessed income. In the result, all the grounds of the appellant are allowed." 8. Against the above order Revenue is in appeal before us. We have heard both the parties and perused the records. 9. Upon careful consideration we note that as regards the first issue of addition of interest receipt, the learned CIT(A) has found that no interest was due during the impugned financial year. This is duly supported by ITAT order in assessee's own case referred by learned CIT(A). Hence, we do not find any infirmity in the order of learned CIT(A) in this issue. 10. As regards the issue of denial of 80P(2)(d) deduction, we note that the issue is squarely covered in favour of the....
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.... of the decisions of the Hon Jurisdictional Mumbai Tribunal in following cases: 6.1. Land End Cooperative Housing Society Ltd. v. ITO (46 CCH 52) (Mum); 6.2. Sea Green Cooperative Housing Society Ltd. v. ITO (ITA No. 1343/M/17, order dated 31.03.2017) (Mum); 6.3. Merwanjee Cama Park Cooperative Housing Society Ltd. v. ITO (ITA No. 6139/M/14, order dated 27.09.2017) (Mum); 6.4. ITO v. Ashoka Apt. C.H.S. Ltd. (ITA No. 2845/M/10) (Mum); 6.5. ITO v. Sagar Sanjog C.H.S. Ltd. (ITA No. 1972-74/M/2005)(Mum); 6.6. ITO v. Pancharatna Co. Op. Hsg. Soc. Ltd. (ITA 2858/Mum/2010) (Mum) 7. In view of the foregoing as also the decision in Appellant's own case for AY 2011-12, the Respondent Assessee most humbly submits that the claim of deduction u/s. 80P(2)(d) and 80P(2)(c) be allowed and appeals of the department be dismissed on that ground." Hence we find that the main reason for disallowing the claim here is by his mistaken invocation of section 80P(4) of the Act. This has been duly settled by Hon'ble Supreme Court that in the case of Cooperative societies this section cannot be invoked as they cannot be held to be cooper....
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....02/2017. As per the said intimation, due date of filing return has been mentioned as 07/09/2015. Date of filing return was 27/10/2015. The A.O. has not allowed the deduction us. 80P of Rs. 2,15,31,450/- and has levied interest u/s. 234A, 234B & 234C. 16. Upon assessee's appeal learned CIT(A) noted as under : "Aggrieved by the said order, the assessee has filed the present appeal under consideration. During the course of appellate proceedings, the AR of the appellant has submitted that being a co-operative housing society, it is required to get its accounts audited under the Co-operative Societies Act, 1912. Hence, original due date for filing return was 30.09.2015. CBDT vide Circular F.No. 225/207/2015 ITA.II dated 1.10.2015 extended due date of filing return upto 31.10.2015 from 30.09.2015. Hence the return is filed u/s 139(1) within due date. The appellant has also made elaborate submission on deduction u/s 80P(2)(d) including various case laws." 17. Considering the above learned CIT(A) held as under : "24 I have carefully perused the facts highlighted in the intimation and the written submission filed by the appellant during appellate proceedings. I have ....