TaxTMI 
TaxTMI 
2024 (5) TMI 1531
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.... No. 152/Srt/2024 for A.Y. 2020-21 by the assessee are directed against the separate orders of the National Faceless Appeal Centre, Delhi (NFAC)/learned Commissioner of Income Tax (Appeals) [in short, the ld. CIT(A)] dated 17/01/2024 and 26/12/2023 respectively. In both the appeals, certain facts are common, the grounds of appeal in both the appeals are interconnected, therefore, both the appeals were clubbed, heard together and are being decided by common order to avoid the conflicting decision. With the consent of parties, the appeal of revenue for A.Y. 2017-18 being ITA No. 218/Srt/2024 is treated as lead case. In this appeal, following grounds of appeal have been raised by the revenue. "1. On the facts and circumstances of the case an....
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.... the case of Totagar's Cooperative Sales Society Ltd reported in (2010) ITR 283 (SC) . 5. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in allowing deduction u/s. 80P(2)(d) of the Act and has not appreciated that the introduction of sub-section (4) was to exclude the Cooperative Banks from availing the benefits of deductions under section 80P and the section 80P(4) is in the nature of a proviso to the main provision contained in section 80P(1) and (2) consequently, the exclusion of Cooperative Banks extends to Section 80P(2)(d) as well as held by Hon'ble Supreme Court in the case of Mavilayi Service Co-Operative Bank Ltd Vs Commissioner of Income Tax ((2021) 431 ITR 1 (SC). 6. On the basis of ....
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.... on the basis of various decisions of the Tribunal and the decisions of Hon'ble Jurisdictional High Court. The ld. AR of the assessee submits that in A.Y. 2018-19, this Tribunal allowed full relief to the assessee by following decision of Hon'ble Jurisdictional High Court in the case of Surat Vankar Sahakari Sangh Ltd. Vs ACIT (2016) 72 taxmann.com 169 (Guj) and the decision of Hon'ble Supreme Court in the case of PCIT Vs Annasaheb patil Mathadi Kamgar Sahakari Pathpedi Ltd. (2023) 150 taxmann.com 173 (SC). 3. For AY 2020-21, the ld. AR of the assessee fairly submits that in appeal for this assessment year the Assessing Officer made similar disallowance under Section 80P(2)(d) of the Act. The ld. CIT(A) confirmed the addition i....
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....bject to verification of claim by the Assessing Officer. 5. We have considered the submissions of both the parties and perused orders of the lower authorities carefully. We have also deliberated on various case laws relied by the ld. AR of the assessee as well as by the lower authorities while passing their respective orders. On considering the submissions of both the parties, we find that the grounds of appeal raised by assessee is covered by the decision of this Tribunal in assessee's own case for A.Y. 2018-19 passed in ITA No. 793/Srt/2023 dated 24/01/2024 wherein this Bench has passed following order: "4. We have heard the rival submission of both the parties and perused the materials available on record carefully. We find that asses....
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....ear, the other part of deduction which include interest from other institution except co-operative societies are not eligible. Thus, the assessee is allowed relief to the extent of Rs. 3,00,21,194/-. This ground of assessee's appeal is partly allowed in above terms." Considering the aforesaid decision of this Bench, we affirm the order of ld. CIT(A). No contrary fact or law is brought to our notice to take other view. 6. In the result, the grounds of appeal raised by the revenue in appeal for A.Y. 2017-18 are dismissed. 7. So far as grounds of appeal in appeal for A.Y. 2020-21 is concerned, we find that prima facie, the grounds of appeal raised by assessee is covered in favour of assessee. However, we find that the Assessing Officer as ....