TMI Blog2024 (5) TMI 56X X X X Extracts X X X X X X X X Extracts X X X X ..... rative bank, a term again defined under BRA, which stands adopted for the purpose of s. 80P, determining the issue. The copy of the bye-laws, only a certified translated copy of which, in full, can be taken cognizance of and regarded as a part of the record, is not on record. As also noted by the Tribunal in it s orders afore-referred, what value the restriction on the area for it s members, if the assessee-society is otherwise eligible to accept deposits from non-members as well - Under the circumstances, we, for the reasons aforenoted, as also the cases referred to, set aside the orders by the Revenue authorities, and restore the matter back to the file of the AO to determine the assessee s eligibility for deduction u/s. 80P(1) r/w s. 80P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... particular area (as specified in Cl. 4 of the byelaws), only residents of which could become it s members, even if nominal, duly permitted by it s governing Act, i.e., the Kerala Co-operative Societies Act, 1969 (the Kerala Act), under which the assessee is registered as a Primary Agricultural Credit Society (PACS). This assumes relevance as this restriction by way of an amendment to s. 2(oa) of the Kerala Act by the Amendment Act of 1999, is applicable only to societies registered on or after the date of the commencement of the said Act, i.e., 01/01/2000. 3. We have heard the parties, and perused the material on record. 3.1 This Tribunal has per a series of decisions, beginning Sivapuram Service Cooperative Bank Ltd. Ors v. ITO (ITA Nos. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would again matter little; rather, entitle it for the deduction on the entirety of it s profit, i.e., including that referable to business with non-members. Further still, the assessee/s, satisfying the primary condition of s. 2(19) of the Act defining a society, is, thus, a cooperative society, a pre-requisite for deduction u/s. 80P(1). The resolution of the dispute as to whether the assessee is therefore eligible for deduction u/s. 80P(1) r/w s. 80P(2)(a)(i) and, where so, its extent, thus rests solely on the assessee being, or not being, a co-operative bank, a term again defined under BRA, which stands adopted for the purpose of s. 80P, determining the issue. 3.2 The copy of the bye-laws, only a certified translated copy of which, in ful ..... X X X X Extracts X X X X X X X X Extracts X X X X
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