TMI Blog2018 (9) TMI 1246X X X X Extracts X X X X X X X X Extracts X X X X ..... directed against separate orders of the CIT(A). 2. The only issue raised in this appeal is whether the assessees is entitled to deduction u/s. 80P(2)(a)(i) of the I.T.Act? 3. Briefly stated the facts of the case are as follows: The assessees are primary agricultural credit societies registered under the Kerala Cooperative Societies Act, 1969. For the assessment year under consideration, the assessees had filed return of income after claiming deduction u/s. 80P of the I.T. Act. The assessments u/s. 143(3) of the Act were completed by denying the deduction u/s. 80P of the I.T. Act. The reasoning of the Assessing Officer for denying the claim of deduction u/s. 80P of the Act was that the assessees were primarily engaged in the busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble High Court was considering the following substantial question of law: a) Whether on the facts and in the circumstances of the case under consideration, the Tribunal is correct in law in deciding against the assessee, the issue regarding entitlement for exemption under section 80P, ignoring the fact that the assessee is a primary agricultural credit society? 6.1 In considering the above question of law, the Hon'ble High Court rendered the following findings: 15. Appellants in these different appeals are indisputably societies registered under the Kerala co-operative societies Act 1969, for short KCS Act, and the bye-laws of each of them, as made available to this court as part of the paper books, clearly show ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16. The position of law being as above with reference to the statutory provisions, the appellants had shown to the authorities and the Tribunal that they are primary agricultural credit societies in terms of clause (cciv) of section 5 of the BR Act having regard to the primary object or principal business of each of the appellants. It is also clear from the materials on record that the bye-laws of each of the appellants do not permit admission of any other co-operative society as member, except may be, in accordance with the proviso to sub-clause 2 of section 5(cciv) of the BR Act. The different orders of the Tribunal which are impeached in these appeals do not contain any finding of fact to the effect that the bye- laws of any of the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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