TMI Blog2022 (4) TMI 115X X X X Extracts X X X X X X X X Extracts X X X X ..... e Society and demanded tax. Challenging the said orders of assessment, the respondents have already filed appeals before the appellate authority and they are pending. Therefore, it would be appropriate to direct the respondents herein to raise all the contentions including the eligibility of their claim under section 80P of the Act, in the appeals pending before the appellate authority. The appellate authority is also directed to consider the claim of the respondents/co-operative societies and pass orders, on merits and in accordance with law and also in the light of the decision rendered by the Honourable Supreme Court in Mavilayi Service Co-operative Bank [ 2021 (1) TMI 488 - SUPREME COURT] . Accordingly, the orders impugned herein, sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rit petitioner was processed under Section 143 (1) of the Act and the assessments were completed under section 143(3) of the Act on 28.12.2018, determining a total income and demanded payment of tax, while disallowing the claim made under Section 80P of the Act. Aggrieved by the order of assessment dated 28.12.2018, the respondent / writ petitioner has filed WP. No.5060 of 2019. 5. The learned Judge, on consideration of the submissions made by both sides, disposed of the said writ petition on 27.06.2019 along with other writ petitions, after having found that the issue involved in the writ petitions is covered by the judgment dated 02.08.2016 passed by the Division Bench of this Court in Tax Case Appeal Numbers 484 to 487 and 490 of 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t dated 02.08.2016 passed in Tax Case Appeal Numbers 484 to 487 and 490 of 2016 has held that in terms of Section 80P of the Act, which was inserted under the Finance Act, 2006 with effect from 01.04.2007, the assessees, which are the cooperative credit societies, would be entitled to the benefit of Section 80P of the Act. It is further stated that assailing the said order passed by the Division Bench of this Court, the Revenue has carried the matter on appeal before the Honourable Supreme Court in Special Leave to Appeal (c) No(s).17745/2019 [Prl. Commissioner of Income Tax Vs. M/s.S.1308 Ammapet Primary Agricultural Cooperative Bank Ltd] and the Honourable Supreme Court, by judgment dated 17.01.2020 permitted the Department to withdra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee. A deduction that is given without any reference to any restriction or limitation cannot be restricted or limited by implication, as is sought to be done by the Revenue in the present case by adding the word agriculture into Section 80P(2)(a)(i) when it is not there. Further, section 80P(4) is to be read as a proviso, which proviso now specifically excludes co-operative banks which are co-operative societies engaged in banking business i.e. engaged in lending money to members of the public, which have a licence in this behalf from the RBI. Judged by this touchstone, it is clear that the impugned Full Bench judgment is wholly incorrect in its reading of Citizen Cooperative Society Ltd. (supra). Clearly, therefore, once section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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