TMI Blog2013 (2) TMI 422X X X X Extracts X X X X X X X X Extracts X X X X ..... indicated in such returns – Issue was restored to the file of the AO – Appeal stands partly allowed for statistical purposes. - I.T.A Nos. 443/Mds/1999 and 193/Mds/2002 - - - Dated:- 17-1-2012 - DR. O.K. NARAYANAN AND SHRI HARI OM MARATHA, JJ. Appellant by : Shri R.B. Naik, CIT/DR-II Respondent by : Shri S. Sridhar, Advocate ORDER PER HARI OM MARATHA, JUDICIAL MEMBER: These are two appeals of the Revenue for assessment years 1994-95 and 1995-96, which have been placed before us in the second round as per the directions of Hon'ble High Court/ Supreme Court. I.T.A.No. 443/Mds/1999 2. This appeal has been fixed for hearing in view of the direction of the Hon'ble Supreme Court given in Civil Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al produce of its members and has claimed deduction u/s 80P(2)(a)(iii). The Assessing Officer had disallowed the same on the ground of the same very issue for earlier year. The Department is in reference before the High Court. However, the ld.CIT(A) has allowed this claim following the Tribunal s order in assessee s own case. 5. These issues ultimately reached before the Hon'ble Supreme Court, which has considered the following two questions in order to decide the impugned issues: 1. Whether in the facts and under the circumstances of the case, the Appellate Tribunal was right in holding that the assessee cooperative society, which is engaged in the manufacture and sale of sugar, is eligible for the benefit of section 80-P(2)(a)(i) o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w, this court held thus: 20. In order to earn exemption under section 80-P(2) a cooperative society must prove that it had engaged itself in carrying on any of the several business referred to in sub-section (2),. In that connection, it is important to note that under sub-section(2), in the context of cooperative society, Parliament has stipulated that the society must be engaged in carrying on the business of banking or providing credit facilities to its members. Therefore, in each case, the Tribunal was required to examine the memorandum of association, the articles of association, the returns of income filed with the Department, the status of business indicated in such returns etc. This exercise had not been undertaken at all. 7. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ond issue, the same stands dismissed in view of the above Hon'ble Supreme Court s decision. 9. In the result, this appeal stands partly allowed for statistical purposes. I.T.A.No. 193/Mds/2001 10. In this appeal, for assessment year 1995-96, the Revenue has challenged the deletion of disallowance made by the Assessing Officer in respect of deduction u/s 80P(2)(a)(i) of the Act. Following our finding given in the former part of this order on a similar issue on identical facts, we restore the appeal in the same manner to the file of the Assessing Officer and with similar directions. 11. In the result, the appeal of the Revenue for assessment year 1994-95 stands partly allowed for statistical purposes whereas that of assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X
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