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TMI Blog2014 (6) TMI 921X X X X Extracts X X X X X X X X Extracts X X X X ..... to a classification within classification which is beyond the purview of taxing statute; unless provided specifically by the legislature. - Decided in favour of assessee Claim of deduction under section 80P(2)(d) - assessee has submitted that the income by way of interest and dividend earned by the assessee society are from investments made in Salem District Central Cooperative Bank, which is also admittedly, a co-operative society - Held that:- In the present case, the assessee is an Agricultural Producers Co-operative Marketing Society Ltd., registered under Tamilnadu Co-operative Societies Act and established for the benefit of the agricultural producers and the interest or dividend earned by the assessee will be beneficial to the me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the lower authorities that the claim of the assessee has to be considered under section 80P(2)(a)(i) of the Act. 3. This issue has been considered by Income Tax Appellate Tribunal, Chennai B Bench in the cases of SL(SPL) 151, Karkudalpatty Primary Agricultural Co-operative Credit Society Ltd and S 1382, Mullukuruchi Primary Agricultural Co-operative Credit Society Ltd in I.T.A. Nos. 292 293/Mds/2014 vide common order dated 17.03.2014 and also the decision of C Bench in the cases of M/s. 1915 Vellalapatty Primary Agricultural Co-operative Credit Society Ltd. in I.T.A. Nos. 385 386/Mds/2014, M/s. S-6648 Attur Mulluvadi Primary Agricultural Co-operative Credit Society Ltd. in I.T.A. No. 387/Mds/2014 vide common order dated 01 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from investment with the Bank is not entitled for deduction under section 80P(2)(d) of the Act, which was confirmed by the ld. CIT(Appeals). The assessee has raised this ground before the ld. CIT(Appeals) by raising additional an ground and the ld. CIT(Appeals) simply rejected the claim of the assessee by observing that deposits made in the Co-operative Bank and not qualify for deduction under section 80P(2)(d) of the Act. 6. Before us, ld. Counsel for the assessee, while relying on the decision of Hon ble Himachal Pradesh High Court in the case of CIT v. Kangra Co-operative Bank Ltd. [2009] 309 ITR 106 (HP), prayed that the claim of deduction under section 80P(2)(d) should also be allowed. 7. On the other hand, the ld. DR relied on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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