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2022 (1) TMI 230 - AT - Income TaxRevision u/s 263 by CIT - deduction u/s 80P - amount as received from the Mysore and Chamarajanagar District Co-operative Bank Ltd which is a co-operative bank and not a co-operative society - CIT held that the assessment order passed by the AO is erroneous and prejudicial to the interest of the revenue and accordingly, directed the A.O. to revise the assessment order - HELD THAT:- An identical issue was considered in the case of M/s.Prathamika Krushi Pattina Sahakari Niyamita [2022 (1) TMI 153 - ITAT BANGALORE] wherein the Tribunal directed the A.O. to consider the issue afresh in the light of the dictum laid down by the Hon’ble Apex Court in the case of Mavilayi Service Co-operative Bank Ltd. & Ors. V. CIT & Anr. [2021 (1) TMI 488 - SUPREME COURT]. Since the facts considered by the Tribunal in the case of Prathamika Krushi Pattina Sahakari Niyamata v. Pr.CIT (supra) are identical to the facts of the case under consideration, respectfully following the same, we direct the A.O. to consider the issue afresh, based on the above order of the Tribunal. Appeals filed by the assessee are allowed for statistical purposes.
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