2025 (4) TMI 2007

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

...., ACCOUNTANT MEMBER For the Appellant : Sri. M.R. Sasi, Advocate For the Respondent : Smt. Leena Lal, Sr.AR ORDER PER INTURI RAMA RAO, AM : These appeals filed by the assessee are directed against different orders of the National Faceless Assessment Centre / Commissioner of Income-tax (Appeals), ["CIT(A)"] passed u/s.250 of the Income-tax Act, 1961 ["the Act"] for the assessment yea....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....me-tax Act, 1961 "(the Act"). Against the said return of income, the assessment was completed by the Assessing Officer ("the AO") vide order dated 29.12.2019 by denying the deduction u/s.80P of the Act by holding that the appellant society is a co-operative bank and not a co-operative. 4. Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order denied the deduction u/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arry on the banking business, the co-operative society cannot be considered as a co-operative bank. Reliance is placed on the judgment of the Hon'ble Supreme Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. v. CIT & Anr. (2021) 431 ITR 1 (SC). 7. The issue whether the interest income earned by the co-operative society from the co-operative banks qualifies for deduction is now....