TMI Blog2019 (3) TMI 801X X X X Extracts X X X X X X X X Extracts X X X X ..... d and decide the issue through a speaking and well reasoned order after due opportunity of being heard to the assessee. Also direct the assessee to respond to the notice of hearing to be issued by the Commissioner (Appeals) and co–operate in finalizing the proceeding by making proper submissions with supporting evidences and case laws. It is made clear, have not expressed any opinion on the merits of the disputed issue. With the aforesaid observations, grounds raised are allowed for statistical purposes. - ITA no.2979/Mum./2018 - - - Dated:- 8-3-2019 - Shri Saktijit Dey, Judicial Member For the Assessee : Shri Manoj D. Mahimkar For the Revenue : Shri Ajay Pratap Singh ORDER Aforesaid appeal has been filed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act by holding that Co operative Bank is a Commercial Bank, hence, does not come within the purview of Co operative Society as referred to in section 80P(2)(d) of the Act. While doing so, he relied upon the decision of the Hon'ble Supreme Court in Totgars Co operative Cell Society Ltd. v/s ITO,[2010] 188 taxman 288 (SC). Accordingly, he brought to tax the interest income of ₹ 40,92,129. 4. Though, the assessee challenged the aforesaid addition before the first appellate authority, however, he sustained the disallowance made by the Assessing Officer. 5. The learned Authorised Representative submitted, assessee s appeal before the learned Commissioner (Appeals) was decided ex parte, since, due to lack of communication with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ell Society Ltd. (supra). It is the contention of the learned Authorised Representative before me that the decision rendered in case of Totgars Co operative Cell Society Ltd. (supra) is completely on different set of facts, hence, would not be applicable to the assessee s case. It is observed, assessee s appeal before the learned Commissioner (Appeals) was decided ex parte in the absence of any representation on behalf of the assessee. It is the contention of the learned Authorised Representative before me that given an opportunit assessee would be able to convince the learned Commissioner (Appeals) about its claim of deduction under section 80P(2)(d) of the Act. Considering the aforesaid submissions of the learned Authorised Representative ..... X X X X Extracts X X X X X X X X Extracts X X X X
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