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TMI Blog2018 (10) TMI 1603X X X X Extracts X X X X X X X X Extracts X X X X ..... -14 on the file of the Income Tax Appellate Tribunal, "A" Bench, Bangalore allowing the appeal and remanded the matter to the Assessing Officer for de-nova assessment in accordance with law. 3. The present appellant - Assessee filed return of income for the Assessment Year 2013-14 on 23.09.2013 declaring nil income after claiming exemption under Section 80P of the Income Tax Act (For short 'the Act') of Rs. 87,10,540/-. Against the said return of income, assessment was completed by the ITO, Ward-1, Bagalkot by an order dated 31.12.2015 passed under the provision of Section 143 (3) of the Act by denying the exemption under Section 80P of the Act, disallowing Pigmi commission on the ground that no TDS was made of Rs. 1,70,46,946/-. According ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... while remanding the matter, the Tribunal has erred in holding that the Pigmi account goes to show that the appellant has accepted the deposit even from non-members, which is totally erroneous. He would further contend that the Income Tax Appellate Tribunal relied upon the judgment of this Court in the case of CIT Vs. Sri Biluru Gurubasava Pattina Sahakari Sangha Niyamitha made in ITA No.5006/2013 and held that the appellant - Assessee is not a Co-Operative Bank and therefore not hit by the provision of Sub-Section (4) of Section 80P same has not been considered by the appellate authority. Therefore, he sought to allow the appeal. 8. Per contra, Sri Y.V. Raviraj, learned standing counsel for the respondents sought to justify the impugned o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matter ought not to have recorded any finding on merits of the case. 11. In view of the above, the appellant has not made out any grounds to frame any substantial question of law and to admit the present appeal against the remand order passed by the Tribunal, which is well crafted order and the same is in accordance with law. Accordingly, appeal is dismissed confirming the order passed by the Income Tax Appellate Tribunal. 12. However, it is made clear that any observations made by the Tribunal while remanding the matter to the Original Authority shall not come in the way of either of the parties to establish their case independently before Assessing Authority and all the contentions urged by both the parties are left open t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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