TaxTMI 
TaxTMI 
2023 (5) TMI 1458
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....s on identical facts are involved in these miscellaneous applications, therefore, for the sake of convenience both these miscellaneous applications are adjudicated together by taking the MA No. 201/Mum/2023 as a lead case and its finding will be applied mutatis mutandis to the other M.A No. 202/Mum/2023. M.A. No. 201/Mum/2023 3. In the miscellaneous application it is submitted that appeal of the assessee for the assessment year 2017-18 along with the appeal for the assessment year 2018-19 were adjudicated vide common order dated 06.12.2012 vide ITA No. 2283 & 2284/Mum/2022. 4. The assessee submitted that vide the aforesaid order dated 06.12.2022 the ITAT has decided the issue on claim of deduction u/s 80P(2)(a) of the Act, however,....
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....claim of the assessee u/s 80P(2)(a) in favour of the assessee after referring the decision of ITAT in the case of the assessee itself vide ITA No. 6093/Mum/2013. The relevant part of the decision is as under: "4. Heard both the sides and perused the material on record. The A.O has denied the claim of deduction u/s 80P(2)(a) on the ground that the assessee cooperative society providing credit facility to its members is also covered by the amended provisions of Sec. 80P(4) of the Act. The ld. CIT(A) held that assessee is cooperative society and engaged in banking business and referred Sec. 80P(4) and observed that the provisions of Sec. 80P(4) shall not apply in relation to any cooperative bank and other than primary agricultural cre....
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....in respect of the income of the assessee when the assessee is a 'credit cooperative society'. In the assessment, AO treated the same as a 'credit cooperative bank'. During the first appellate proceedings, CIT (A) examined the facts relevant to the definition of 'credit cooperative society' as well as the applicable citations and came to the conclusion that the assessee is not a 'bank' and therefore, the provisions of section 80P(4) will not apply to the assessee-credit cooperative society. The contents of paras 6 and 7 of the CIT (A)'s order are relevant in this regard. Aggrieved with the same, Revenue is in appeal before the Tribunal with the present appeal. 4. During the proceedings before us, Ld DR for the Revenue submitted that....
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....ers, which have been held as not falling under the banking activities as defined in the Banking Regulation Act. Therefore, respectfully following the aforesaid decisions of the ITAT Pune and Panaji Benches, the appellant also cannot be held as a Cooperative Bankhence the deduction claimed u/s 80P(2)(a)(i) cannot be denied to it. The AO is accordingly directed to allow the deduction claimed by the appellant." 6. Further, we have also perused the judgment of the jurisdictional High Court in the case of Quepem Urban Cooperative Credit Society Ltd vs. ACIT [2015] 377 ITR 272 (Bom), which was relied upon by the Ld Counsel for the assessee for the proposition that such lending activities do not constitute banking activities as the same a....