2024 (10) TMI 305

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....essee has raised the following grounds of appeal: 1. On the facts and circumstances of the case and in law, the learned CIT(A) failed to appreciate that the deduction in respect of interest income of Rs. 1,07,71,178/- earned by the Society on the deposits held with the co-operative banks was duly claimed in the return of income and consequentially failed to appreciate that the adjustment to the returned income in respect of disputable issue falls outside the purview and scope of provisions of section 143(1) and thereby erred in confirming the addition of Rs. 1,07,71,178/- in course of processing of return of income in respect of this deduction - Rs. 56,03,430/- 2. Without prejudice to the first ground, on the facts and circumstances of ....

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....23.01.2024, upheld the order of the ld. A.O. / CPC on the disallowance made u/s. 80P(2)(d) of the Act on the ground that the Cooperative Bank does not fall under the category of 'Co-operative Society' and on other findings. 6. Further, aggrieved the assessee is in appeal before us, challenging the impugned order of the ld. CIT(A). 7. The learned Authorised Representative ('ld. AR' for short) for the assessee contended that the assessee's case has been covered by the Tribunal's order in the case of MIG Co-operative Housing Society and MIG Co-operative Housing Society Group-II Ltd. vs. ITO (in ITA No.896/Mum/2016 vide order dated 11.02.2017) on the issue of section 80P(2)(d) of the Act and also in the assessee's case for A.Ys. 2011-....

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....ks. The ld. AR has relied on the decision of the co-ordinate bench in assessee's case for earlier years where the said deduction u/s. 80P(2)(d) of the Act has been allowed consistently. It is observed that for the year under consideration, the ld. CIT(A) has held that the said claim of the assessee is disallowed for the reason that the assessee has not made claim under Chapter VIA in its return of income and had relied on the decision of Hon'ble Apex Court in the case of Goetze India Ltd. [2006] 284 ITR 323 (SC), wherein it was held that the ld. A.O. is not entitled to accept the claim for deduction which was not claimed at the time of filing of the return otherwise than by filing revised return of income. The ld. CIT(A) has also denied....