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2022 (4) TMI 115 - HC - Income TaxDeduction u/s 80P - scope of Section 80P of the Act, which was inserted under the Finance Act, 2006 with effect from 01.04.2007, the assessees, which are the cooperative credit societies, would be entitled to the benefit of Section 80P - HELD THAT:- Admittedly, in all these cases, the Assessing Officer has passed the orders of assessment determining the income of the respective respondent/ Cooperative Society and demanded tax. Challenging the said orders of assessment, the respondents have already filed appeals before the appellate authority and they are pending. Therefore, it would be appropriate to direct the respondents herein to raise all the contentions including the eligibility of their claim under section 80P of the Act, in the appeals pending before the appellate authority. The appellate authority is also directed to consider the claim of the respondents/co-operative societies and pass orders, on merits and in accordance with law and also in the light of the decision rendered by the Honourable Supreme Court in Mavilayi Service Co-operative Bank [2021 (1) TMI 488 - SUPREME COURT]. Accordingly, the orders impugned herein, shall stand modified.
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