TaxTMI 
TaxTMI 
2023 (3) TMI 1648
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....Ramnath P. Murkunde ORDER PER R.S.SYAL, VP : This appeal by the assessee is directed against the order dated 13-01-2023 passed by the Pr. CIT u/s. 263 of the Income tax Act, 1961 (hereinafter also called 'the Act') in relation to the assessment year 2018-19. 2. Succinctly, the facts of the case are that the assessee is a co-operative society and is engaged in the business of accepting ....
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....e have heard the rival submissions and gone through the relevant material on record. The extant issue under consideration is no more res integra by virtue of several orders passed by the Tribunal. It is seen that the assessee is a Cooperative credit society engaged in providing credit facilities to its members. The ld. PCIT has held the assessment order to be erroneous and prejudicial to the inter....
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....he assessee is also a registered Cooperative society. 4. Similar view has been taken by the Pune Benches of the Tribunal in several cases including The Sesa Goa Employees Coop. Credit Society Ltd. Vs. ACIT (ITA No. 203/PUN/2019, order dated 16-11-2022). 5. In view of the fact that the Pune Benches of the Tribunal in series of decisions have held that the assessees are entitled to deduction u....