TaxTMI 
TaxTMI 
2022 (5) TMI 1273
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....by this consolidated order. Identical grounds are raised in all these appeals, except for variance in figures. The grounds relating to assessment year 2013-2014 reads as follows:- "1. The Order of the Commissioner (Appeals) is against facts and law. 2. The Commissioner (Appeals) should have appreciated that, the powers of the Assessing Authority while processing a return u/s 143(1) is extremely limited. The AO can only make prima facie adjustments which are apparent from the return filed. Only mistakes in law, arithmetic mistakes, incorrect claims apparent on the records, excess loss or disallowances apparent which are not disallowed etc, can be adjusted. The issue whether the appellant is eligible for deduction u/s 80P is not a matter ....
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....me tax without any condition or limit u/s 80P(2)(d) of the Income Tax Act. The disallowance of the claim was hence without any basis. PRAYER For these and such other grounds that may be urged at the time of hearing, it is prayed that the prima facie adjustment made by the AO in the intimation be set aside." 3. The brief facts of the case are as follows: The assessee is a consumer credit society, registered under the Kerala Co-operative Societies Act. For the assessment years 2013-2014 to 2015-2016, the returns of income were filed by the assessee by claiming deduction u/s 80P of the I.T.Act. The Assessing Officer, CPC, issued intimation u/s 143(1) of the I.T.Act for the assessment years 2013-2014 to 2015-2016 partially denying the ded....
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....o-operative Bank Ltd. No.3123 in WP(C) No.9415 of 2019 (judgment dated 18.10.2019). 7. The learned Departmental Representative supported the orders of the Income Tax Authorities. 8. We have heard rival submissions and perused the material on record. The powers of the Assessing Authority while processing a return u/s 143(1) is very limited. The AO could make only prima facie adjustments which are apparent from the return filed. Only mistakes in law, arithmetic mistakes, incorrect claims apparent on the records, excess loss or disallowances apparent which are not disallowed etc, can be adjusted. The issue whether the assessee is eligible for deduction u/s 80P of the I.T.Act is not a matter that can come within the ambit of prima facie adjus....
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....ative Bank Ltd. The Hon'ble Kerala High Court in Kallara Service Co-operative Bank Ltd, Kottayam and others Vs. The CIT (TDS), Cochin (WP (C)9415 of 2019) (B) (judgment dated 18.10.2019) has decided that a district co-operative bank is a co-operative society. In this judgment the petitioners were co-operative Societies who held deposits with Kottayam District Co-Operative Bank Ltd, Kottayam. The writ petition was filed seeking exemption from deduction of tax on the interest earned by the petitioners under s.194A(3)(v) of the I.T.Act on these deposits held by them. The main contention of the petitioners was that payment of interest by Kottayam District Co-Operative Bank Ltd to them was payment by a cooperative Society to another Co-operative....