2026 (1) TMI 1546

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....e Revenue : Shri Ganesh R Ghale, Advocate - Standing Counsel for Revenue ORDER PER PRASHANT MAHARISHI, VICE - PRESIDENT 1. ITA No. 1463/Bang/2025 and 1464/Bang/2025 for Assessment Year 2017-18 and 2018-19 are filed by Kumbarara Gudi Kaigarika Sahakara Sangha Niyamitha against the Appellate Order passed by the National Faceless Appeal Centre dated 12.03.2024 and 07.04.2025 wherein the Appe....

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....rom other co-operative banks and therefore the Assessee was denied the deduction u/s. 80P(2)(d) of the Act as it is not related to supply of milk. Accordingly, the deduction of Rs. 19,95,649/- was allowed to the Assessee against the claim of Rs. 26,76,158/-. The Assessment Order was passed on 24.06.2021. 3. The Assessee preferred an Appeal before the Ld. CIT(A) wherein the Assessee submitted th....

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.... 3,742 6. Korangrapady CA Bank 1,95,340 7. Vishwakarma Sahakara Bank 2,43,208 8. SCDCC Bank Welfare Fund 1,98,334 9. SCDCC Bank 16,442 10. RSSSN Hiriyadka 8,546   Total Interest 6,80,509 5. The claim of the AO is that same is not allowable as it is not related to supply of milk. and reading the provisions of section 80P(2)(b) where t....

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....eld that if the Assessee is denied deduction u/s. 80P(2)(b), it is entitled to deduction u/s. 80P(2)(d). The AO himself has allowed further deduction u/s. 80P(2)(d) of the Act of interest income received from other co-operative societies of Rs. 15,20,262/-. Therefore, there is no reason that the Assessee should be denied deduction u/s. 80P(2)(b) of the Act. The Ld. CIT(A) has wrongly stated that s....