TMI Blog2023 (2) TMI 802X X X X Extracts X X X X X X X X Extracts X X X X ..... gistered under the Co-operative Societies Act, 1912 or under any law for the time being in force. The assessees are also Co-operative society registered. Similar view has been taken by the Pune Benches of the Tribunal in several cases including The Sesa Goa Employees Coop. Credit Society Ltd. [ 2022 (12) TMI 959 - ITAT PUNE] . In view of the fact that the Pune Benches of the Tribunal in series of decisions have held that the assessees are entitled to deduction u/s.80P(2)(a)(i)/80P(2)(d) in respect of interest income, we hold that the impugned orders cannot be sustained. All the orders are, therefore, overturned. All the appeals are allowed. - ITA No. 862/PUN/2022 - - - Dated:- 16-2-2023 - Shri R.S. Syal, Vice President And Shri Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ys. In this regard, the assessee has filed an Affidavit and condonation petition explaining the reasons for the delay. We have gone through the contents of the Affidavit and the condonation of delay petition and as per our considered view, the reasons of delay cannot be attributable to the deliberate or malafide conduct, if any, of the assessee. The delay caused is due to the circumstances and is not intentional on the part of the assessee. Therefore, even the ld. D.R raised strong objection regarding condonation of this delay, however, as per the aforestated reasons, we condone the delay of 188 days and the case is heard on merits. 4. The Pune Bench of the Tribunal in a group matters in ITA No. 303 to 398/PUN/2022 for A.Y. 2017-18, orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts took into consideration the ratio laid down in the case of Totgar s Cooperative Sale Society Ltd. (supra). No direct judgment from the Hon ble jurisdictional High Court on the point having been pointed out, the Tribunal in Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) preferred to go with the view in favour of the assessee by the Hon ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). The position continues to remain the same before this Tribunal also. 5. R eliance of the ld. Pr. CIT in some of the cases under consideration on the decision of Pr. CIT and Another Vs. Totagars Cooperative Sales Society (2017) 395 ITR 611 (Kar.) is not relevant. The issue in that case wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e.f. 1.4.2007, but this provision does not dent the otherwise eligibility u/s 80P(2)(d) of the Act of a cooperative society on interest income on investments/deposits parked with a cooperative bank, which is a registered co-operative society as per section 2(19) of the Act, defining co-operative society to mean a co-operative society registered under the Co-operative Societies Act, 1912 or under any law for the time being in force. The assessees are also Co-operative society registered. 7. Similar view has been taken by the Pune Benches of the Tribunal in several cases including The Sesa Goa Employees Coop. Credit Society Ltd. Vs. ACIT (ITA No.203/PUN/2019, order dated 16-11-2022). 8. In view of the fact that the Pune Benches of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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