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2017 (9) TMI 470 - AT - Income TaxDeduction u/s. 80P(2)(a)(i) and u/s 80P(2)(d) - dividend received by the assessee from its share holdings in other co-operative societies - Held that:- Since the facts whether the assessee has different categories of members; first resident members or ordinary members and second nominal members and whether the assessee is getting the deposits from nominal members and advancing loan to the resident members/ordinary members are not on record and has not been examined by this Tribunal in the assessment year 2012-13 whether the fact that the assessee is engaged in the activity of granting loan to general public has also not been examined by the authorities below we, therefore, in the interest of justice and fair play to both the parties, restore this issue to the file of the Assessing Officer by setting aside the order of the CIT(A) with the direction that the Assessing Officer shall examine this issue and decide afresh in view of the observation of Hon'ble Supreme Court made in the case of The Citizen Co-operative Society Limited vs. ACIT, Circle-9(1), Hyderabad (2017 (8) TMI 536 - SUPREME COURT ) In respect of claim of deduction under section 80P(2)(d) on dividend income received from the co-operative society is concerned, in our opinion this issue will depend upon the outcome of the first issue. If the assessee is entitled to deduction under section 80P(2)(a)(i) the assessee will also be entitled for deduction under section 80P(2)(d). Since the issue is consequential to the issue involved about the claim of the assessee under section 80P(2)(a)(i), therefore, the order of the CIT(A) is also set aside on this issue and this also is restored to the file of the AO with the direction that the AO shall redecide this issue. Appeal filed by the Revenue is allowed for statistical purposes.
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