2022 (10) TMI 221

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....Shri N.J. Vyas, Sr. DR ORDER This appeal is filed by the Assessee against the order dated 27.06.2019 passed by the CIT(A-3), Vadodara for the Assessment Year 2016-17. 2. The assessee has raised the following grounds of appeal :- "1) The Office of CIT (Appeals)-3, Vadodara concurred with the Assessment Order of the Assessing Officer of Ward-3(1)(3), Vadodara to the tune of disallo....

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....n 143(2) of the Act on 23.08.2017 which was duly served. Notice under Section 142(1) read with Section 129 of the Act was issued on 21.06.2018. In response to the above the assessee submitted reply dated 08.08.2018. The Assessing Officer passed assessment order thereby making disallowance in respect of proportionate interest under Section 80P of the Act claimed by the assessee. 4. Being aggriev....

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....e of State Bank of India Employees' Co-operative Credit & Supplies Limited vs. CIT, 72 taxmann.com 64. The Ld. AR also relied upon the decision of the Tribunal in the case of The Government Servants Co-operative Credit Society Limited vs. ITO, ITA No.108/Ahd/2017, order dated 31.01.2019. 6. The Ld. DR relied upon the assessment order and the order of the CIT(A) and submitted that the decision o....

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....redit facilities to its members and no other income accrues to the Society in the form of interest from investment and surplus fund to the co-operative bank. The Hon'ble High Court directed the Assessing Officer to allow primary expenses in respect of interest on deposit held with Nationalised Bank to the assessee for computing deduction under Section 80P after examining/verification and affording....