TMI Blog2018 (4) TMI 1832X X X X Extracts X X X X X X X X Extracts X X X X ..... e bank, it is imperative to have a licence from the Reserve Bank of India. It can therefore be said that a co-operative society which does not possess a license from RBI cannot be equated to a co-operative Bank, even though it might indulge in the business of banking. We find force in the submissions of ld. AR of assessee because we find that the facts of the present case and the facts of that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s appeal is filed by the assessee which is directed against the order of ld. CIT (A)-5, Bangalore dated 15.09.2017 for Assessment Year 2014-15. 2. The grounds raised by the assessee are as under. 1. The order of the learned CIT (A) is bad and unsustainable in the eye of law as the denial of benefit of deduction under S.80P(2)(a)(i) is arbitrary and without proper application of mind since t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the decision of supreme court in Citizen Co-operative case was not at all applicable. 5. Without prejudice, the CIT(A) ought to have appreciated that in the absence of a specific finding by the AO in the impugned order as to the various violations as observed by the AO in the case before the Apex Court, the CIT(A) cannot improve case to suggest what is not there and what was not found, by the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f CIT(A). 4. We have considered the rival submissions and we find force in the submissions of ld. AR of assessee because we find that the facts of the present case and the facts of that case i.e. The Citizen Co-operative Society Ltd. Vs. ACIT(supra) are not discussed and compared by ld. CIT(A) in the impugned order. Before following any judgment, the facts of the case on hand and facts of that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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