TMI Blog2020 (1) TMI 1041X X X X Extracts X X X X X X X X Extracts X X X X ..... asons indicated in our order [ 2017 (3) TMI 1799 - BOMBAY HIGH COURT] question as proposed does not give rise to any substantial question of law. - thus since on merits the issue is held in favour of the Respondent Assessee, the question of improper exercise of Commissioner in Revision under Section 263 of the Act is rendered academic. - INCOME TAX APPEAL NO. 1574 OF 2017 - - - Dated:- 9-1-2020 - NITIN JAMDAR AND M.S. KARNIK, JJ. Mr. Suresh Kumar for the Appellant Mr. Divyesh Fotaria i/b. Ms. Namrata S. Kasale for the Respondent ORDER P.C. :- Heard learned Counsel for the parties. 2. This Appeal under Section 260A o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... attina Sahakari Sangh Niyamitha Bagalkot, as reported in 62 taxmann.com 216 (SC)? (iii) Whether on the facts and circumstance of the case, the Hon ble ITAT was right in law in holding that the order u/s. 263 of the Act denying the assessee the deduction u/s. 80P(2)(d) of the Act is not liable to be sustainable in the eyes of law, because the order is not erroneous or prejudicial to the interests of Revenue; without appreciating the fact that the Hon ble Apex Court in the case of Totgars Co-operative Sale Society Ltd., 229 CTR 209, has decided the very issue in favour of Revenue and furthermore, the Hon ble Apex Court in the case of Quepem Urban Co-operative Credit Society, as reported in 63 taxmann.com 300; has granted SL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... us, not entertained. 4. Regarding question (b) :- (a) We find that the issue raised herein was a subject matter of consideration by this Court in Commissioner of Income Tax Vs. Shri Kulswami Co-op. Credit Society Ltd. (Income Tax Appeal No.1682 of 2014, decided on 20 th March, 2017) wherein identical issues raised by the Revenue were not entertained. This as it did not give rise to any substantial question of law. (b) It is pertinent to note that the impugned order of the Tribunal dismissed the Revenue s appeal before it by relying upon the decision of its co-ordinate bench in the case of Kulswami Co-operative Society (ITA Nos. 3223/ Mum/2011 for Assessment Year 2007-08 and ITA No.505 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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