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2015 (11) TMI 1778 - AT - Income TaxDenial of benefit u/s 80P(2)(i)(a) - assessee is a cooperative society mainly engaged in banking business - reasoning of the AO for denying the benefit of section 80P deduction was that the assessee is a cooperative bank engaged in the business of banking and in view of insertion of sub.sec (4) to sec. 80P w.e.f 1.4.2007 cooperative banks were not entitled to get the benefit of deduction u/s 80P(2)(i)(a) - HELD THAT:- CIT(A) has followed the various orders of the Cochin Bench of the Tribunal in the cases of M/s Kunnamangalam Co-operative Bank vs Income Tax Officer, ward 2(3) Calicut [2014 (10) TMI 350 - ITAT COCHIN] for the assessment year 2009-10 and M/s Pinarayi Service Co-operative Bank Ltd vs Income tax Officer, ward 2, Kannur [2014 (7) TMI 1176 - ITAT COCHIN] for the AY 2009-10. Since the Cochin Bench of the Tribunal has decided the issue against the assessee on identical set of facts, we deem it appropriate to follow the coordinate Bench order, for the sake of consistency, which is subject matter of appeal u/s 260A before the Hon’ble jurisdictional High Court. Therefore, we uphold the order of the CIT(A) on this issue.Appeal filed by the assessee is dismissed.
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