TaxTMI 
TaxTMI 
2025 (4) TMI 779
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.... Income-tax (Appeals) dated 15th April, 2024 and relates to the assessment years 2013-2014 to 2016-2017. Since the facts and issues involved are the same, we are deciding these appeals and stay applications by way of this consolidated order. 2. Facts giving rise to the filing of the present appeals are like this that the assessee is a co-operative society engaged in the business of banking and providing credit facilities to its members and earning interest income and income from other sources. For the impugned assessment year, i.e., for A.Y. 2013- 2014, it has filed its return of income declaring `Nil' income after claiming deduction u/s.80P of the Act. The deduction claimed by the assessee was denied by the Assessing Officer and affirmed ....
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....eling aggrieved with the order of the ld.CIT(A), the assessee has come up in appeal before us. The learned Counsel appearing on behalf of the assessee contended that the observation made by the Hon'ble Kerala High Court Full Bench in Mavilayi Service Co-operative Bank Ltd.(supra) has now been overruled by the Hon'ble Apex Court in its judgment rendered in(2021) 431 ITR 1 (SC). The learned Counsel for the assessee craved for one more opportunity before the A.O, for justifying its claim of the deduction u/s.80P, may kindly be granted to the assessee. 5. The learned Departmental Representative relied upon the orders of the authorities below. 6. We have heard the rival submissions and perused the material available on record. We observe that ....
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....ciety by following the dictum laid down by the Full Bench of the Hon'ble jurisdictional High Court in the case of The Mavilayi Service Co-operative Bank Ltd. v. CIT (supra) and shall take a decision in accordance with law. It is ordered accordingly." 7. Perusal of the above directions of the co-ordinate bench in the first round of litigation would prove beyond doubt that the ITAT has restored the issue of deduction of sec.80P to the file of the A.O. and has directed the A.O. to examine the activities of the assessee in the light of the judgment of the Hon'ble Kerala High Court Full Bench in the case of Mavilayi Service Co-operative Bank Ltd.(supra). Thereafter, the A.O. issued notices to the assessee for the impugned proceedings. Howe....