TMI Blog2018 (9) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... , deduction u/s 80P(2) of the I. T. Act cannot be granted - Decided against assessee. - ITA No. 155/Coch/2018 - - - Dated:- 3-9-2018 - Shri Chandra Poojari, AM And Shri George George K, JM For The Appellant : Sri. T. M. Sreedharan For The Respondent : Smt. A. S. Bindhu ORDER Per George George K, JM This appeal at the instance of the assessee is directed against CIT(A) s order dated 21. 02. 2018. The relevant assessment year is 2011-2012. 2. The ground raised read as follows:- 1 . The Order of the Commissioner of Income Tax (Appeals), Kottayam in ITA No . A37/CIT(A)/KTM/16- 17 dated 21 . 2 . 2018, is opposed to law, to facts and circumstances of the case . 2 . The CIT (A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... udes any income referred to in sub-section (2), there shall be deducted in accordance with and subject to the provisions of that section, the sums specified in sub-section (2) in computing the total income of the assessee . The judgment of the Hon'ble Apex Court reported in (2017) 291 CTR 1 (SC) in the case of CIT and Another Vs . Yokogawa India Ltd . applied to the computation of total income . The above principle of law should have been applied . 7 . It is respectfully submitted that the computation of total income by not excluding the sums specified in sub-section (2) is contrary to law and liable to be set aside . The contrary view taken by the CIT (A) is also illegal and unsustainable . 8 . Withou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y was that the assessee was entitled to the claim of deduction u/s 80P(2)(a)(i) of the I. T. Act. The CIT(A) rejected the appeal filed by the assessee. The CIT(A) following the judgment of the Hon ble Jurisdictional High Court in the case of The Chirakkal Service Co-operative Bank Ltd . Ors . v . CIT [(2016) 384 ITR 490 (Ker . )] held that since the assessee has not filed its return of income claiming deduction u/s 80P(2) of the I. T. Act, the claim cannot be considered. 5. Aggrieved by the order of the CIT(A), the assessee has filed the present appeal before the Tribunal. The learned AR relied on the grounds. The learned Departmental Representative, on the other hand, submitted that the issue in question is squarely cove ..... X X X X Extracts X X X X X X X X Extracts X X X X
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