TMI Blog2018 (4) TMI 1833X X X X Extracts X X X X X X X X Extracts X X X X ..... k, 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 case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax(Appeals) - 5, Bangalore, is opposed to the law and not on the facts and circumstances of the case. 2. On the facts and circumstances of the case, whether Ld.CIT(A) is correct in allowing the claim made by the assessee u/s 80P(2)(a)(i). 3. For these and other grounds that may be urged upon, the order of the CIT(A) may be reversed and that assessment order be restore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Citizen Co-operative Society Ltd. Vs. ACIT (supra), in fact, the order of CIT (A) is dated 14.02.2017 and this judgment of Hon'ble Apex Court is dated 08.08.2017 and hence, this judgment was not available on 14.02.2017. Hence we feel it proper that the matter should go back to the file of CIT (A) for fresh decision after considering this judgment of Hon'ble Apex Court. We set aside the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
