TMI Blog2023 (2) TMI 514X X X X Extracts X X X X X X X X Extracts X X X X ..... Nos.438 And 439/SRT/2022 - - - Dated:- 7-2-2023 - Shri Pawan Singh, JM And Dr. A. L. Saini, AM For the Assessee : Shri Kamlesh Bhatt, AR For the Respondent : Shri Ashok B. Koli, CIT(DR) And Vinod Kumar, Sr. DR ORDER PER DR. A. L. SAINI, AM: Captioned two appeals filed by the assessee, pertaining to the Assessment Years (AYs) 2017-18 and 2018-19, are directed against the separate orders passed by the Learned Commissioner of Income Tax (Appeals), Surat [in short the ld. CIT(A) ], which in turn arise out of separate assessment orders passed by the Assessing Officer under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act ). 2. At the outset, Ld. Counsel for the assessee submitted th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue relied on the orders of authorities below. 5. We see no reason to take any other view of the matter then the view so taken by the Division Bench of this Tribunal in assessee s own case vide order dated 06.10.2022. In this order, the Tribunal has inter alia observed as follows: 4. Aggrieved by the order of Assessing Officer the assessee carried the matter in appeal before Ld. CIT(A) who has deleted the addition made by Assessing Officer observing as follows:- relied on the decision of Hon. High Court of Karnataka in the case of CIT vs. Totagars Co-Op Sale Society. However, the aforesaid decision is not applicable to the facts of the appellant s case as the appellant-society has claimed deduction u/s 80P(2)(d) and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 06.06.2018 (e) ITAT Ahmedabad Peoples Co-op. Credit Society and others ITA No.1891/Ahd/2014 dtd 23.01.2018 (f) ITAT Surat Bardoli Vibhag Gram Vikas Co-op Credit Society Ltd ITA2582/Ahd/2014/SRT dtd 28.06.2018 ITANo.2166/Ahd/2014/SRT dtd 18.04.2017 (g) ITAT Surat Dist. Co-op Milk Producers Union Ltd ITA No.1498/Ahd/2012/SRT, ITA 1706 1211/Ahd/2015/SRT dtd 03.08.2018 (h) ITAT Ahmedabad The Commercial Co-operative Credit Society Ltd. ITA No.2227/Ahd/2017 dtd 13.07.2018 (i) ITAT Ahmedabad the Saroday Credit cum Consumer Co-op society Ltd ITA No.1875/Ahd/2015 dt.11.07.2018 (j) ITAT Ahmedabad The Uttar Gujarat Uma Co-op Credit Society Ltd ITA No.1670 1671/Ahd/2018 dtd 28.02.2019. In all these cases, it wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion u/s 80(P)(2)(d) of the Act. Considering the facts of the case and binding legal decisions of jurisdictional ITAT as well as Hon'ble Gujarat High Court, the interest income of Rs.1,57,50,379/- is held to be eligible for deduction u/s 80P(2)(d) as this interest amount was received from District Cooperative Bank. The AO is hereby directed to allow the same. This ground is allowed in the favour of the appellant. 5. Aggrieved by the order of Ld. CIT(A) the Revenue is in appeal before us. 6. Learned DR for the Revenue has primarily reiterated the stand taken by the Assessing Officer, which we have already noted in our earlier para and is not being repeated for the sake of brevity. 7. On the other hand, Ld. Counsel for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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