2022 (11) TMI 536

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.....S. SYAL, VP: These four appeals by the assessee relate to the assessment years 2009-10 to 2012-13. Since a common issue is raised in these appeals, I am, therefore, proceeding to dispose them off by this consolidated order for the sake of convenience. 2. There is a delay of 140 days in filing the appeals before the Tribunal. The assessee has filed an affidavit explaining the reasons. I am s....

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....allow deduction u/s.80P(2) in respect of business activity of running the credit facility to its members; deduction u/s.80P(2)(d) on the interest received from Cooperative societies; deduction u/s.80P(2)(a)(i) on interest received from any savings bank accounts of other banks/Schedule banks; and deduction u/s.80P(2)(a)(i) towards interest earned on short term investments/deposits of period less th....

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....n that the ld. CIT(A) overturned the AO's view of treating the assessee as a Primary Cooperative bank and rightly held the assessee to be a "Cooperative Society". He has allowed deduction u/s.80P(2) on all the interest incomes except the interest earned on long term investments/deposits made for a period more than one year. Per contra, the interest income on short term deposits for a period less t....

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....bility and non-eligibility for deduction u/s.80P, is not borne out from the impugned order, I am of the considered opinion that it would be just and fair if the impugned order is set aside and the matter is restored to the file of the ld. CIT(A). I order accordingly and direct him to pass a speaking order and to make a mention of the relevant provision, if any, under which such a distinction has b....