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2015 (10) TMI 1428 - ITAT AHMEDABADRejection of claim under section 80P(2)(a)(i) - AO denied exemption on the ground that as per sub-section (4) of section 80P, the provision of section 80P is not applicable in relation to any co-operative bank other than a primary agricultural credit society or a primary co-operative agricultural and rural development bank - Held that:- As decided in case of Jafari Momin Vikas Co-op. Credit Society Ltd [2014 (2) TMI 28 - GUJARAT HIGH COURT] section 80P, sub-section (4), would be applicable only in the case of a credit co-operative bank and not a credit co-operative society. Still the dispute remains whether the assessee is a credit co-operative bank or a credit co-operative society. Admittedly, the Assessing Officer has not examined this aspect. The Commissioner of Income-tax (Appeals), of course, has dealt with on this, but he has not allowed any specific opportunity to the assessee so as to point out how the assessee is not a co-operative bank. In our opinion, it would meet the ends of justice if the orders of the authorities below are set aside and the matter is restored back to the file of the Assessing Officer for re-examination in the light of the decision of the hon'ble jurisdictional High Court in the case of Jafari Momin Vikas Co-op. Credit Society Ltd. (supra). - Decided in favour of assessee for statistical purposes.
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