2025 (7) TMI 956

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.... against the order of the Learned Additional/Joint Commissioner of Income-tax (Appeals), Kolkata-2 [hereinafter referred to as "CIT(A)"] dated 31.03.2025 passed u/s. 250 of the Income-tax Act, 1961 [hereinafter referred to as "Act"] for Assessment Year [A.Y.] 2021-22. 2. The assessee has raised the following grounds of appeal: "1. The Learned Assessing Officer at CPC Bangalore and Learned CIT A....

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....red in not granting deduction u/s 80P(2)(d) of Rs 13,67,260/-without any application of mind and without considering documents, records and case-laws made available before him. 5. A) The Learned CIT Appeals errored in disallowing the deductions made u/s 80P(2)(d) of Rs 13,67,260/- stating that the interest received from. Saraswat Co-operative Bank Ltd, Cosmos Co-op Bank Ltd and Mumbai District C....

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.... the said Banking regulation Act of 1949 by the Bank, would not effect the claim of the assessee a co-operative society under section 80P(2)(d). E) The Learned CIT Appeals erred in incorrectly applying the caselaw'in the case of Uppinangady Catholic Multipurpose Co-operative Society Ltd. Vs ITO dated 07.06.2023 without providing the copy to the assessee nor considering the fact that the said....

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....ct of Rs. 13,67,260/- on account of interest received from Saraswat Cooperative Bank, Cosmo Cooperative Bank and Mumbai District Central Cooperative Bank by holding that these are not cooperative societies. 4. After having heard both the parties, I find that this issue is covered by the decisions of the coordinate benches of ITAT and also by the decision of the Hon'ble Gujarat High Court in the c....