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2021 (12) TMI 513 - KERALA HIGH COURTDeduction u/s 80P - HELD THAT:- As in assessee's own case [2016 (5) TMI 1164 - KERALA HIGH COURT] this Court has considered the standing of the assessee vis-a-vis Section 80P(2) of the Act and denied the claim for deduction as a Co-operative Society. The said judgment is in appeal before the Supreme Court. In Mavilayi Service Co-operative Bank Ltd.[2021 (1) TMI 488 - SUPREME COURT] from the paragraphs excerpted above, it is argued by refering to additional details, brought on record that the assessee is entitled to the claim as Co-operative Society registered under the Kerala Co-operative Societies Act, 1969 and merits acceptance of its claim for deduction under Section 80P(2) of the Act. There is consensus in the arguments of both sides that even for applying the principle of Mavilayi Service Cooperative Bank Ltd. case, independent of the judgment a few details are examined, a finding recorded and then the principle laid down in Mavilayi Service Co-operative Bank Ltd. case could be applied. We are of the view that instead of following the assessee's own case and dismissing the appeals of the assessee or alternatively follow Mavilayi Service Co-operative Bank Ltd. without examination of a few details and grant the status of Society for enabling the assessee for deduction under Section 80P(2), the matter requires to be reconsidered by the Tribunal. These questions could be answered in favour of the assessee to the limited extent that the matter requires reconsideration by the Tribunal on the claim of assessee as a Co-operative Society and the entitlement to deduction under Section 80P(2) of the Act. The assessee and the Department are given liberty to place additional materials, now brought on record in the appeals before the Tribunal for decision and consideration.
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