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2018 (2) TMI 1913 - HC - Income TaxEligibility of exemption under section 80P(2)(a)(i) - whether the Appellate Tribunal was justified in coming to the conclusion that the appellant is not a primary agricultural credit society when the same is not disputed by the Revenue before the first appellate authority or before the Assessing Officer ? - HELD THAT:- We find some force in the arguments at the hands of the learned senior counsel, that an opportunity ought to have been provided by the Tribunal before taking a decision in respect of the application under section 80P(4) of the Act. In the present set of facts of the case, more particularly, when the authorities under the first round as well as the second round proceeded on the applicability of section 80P(2)(a)(i) of the Act to the assessee and suddenly the Tribunal shifting the case to section 80P(4) is without any basis. Having regard to the nature of the facts and circumstances of the case, we find it appropriate to remand the matters to the Assessing Officer to reconsider the issue afresh, providing an opportunity to the assessee to put forth its case, as regards the applicability of section 80P(4) of the Act and the Explanation thereof. Accordingly, these appeals are allowed. The impugned orders are set aside.
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