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TMI Blog2012 (3) TMI 559X X X X Extracts X X X X X X X X Extracts X X X X ..... s and circumstances, in our considered opinion, it shall be fair and in the interest of justice to restore the issue back to the file of the Assessing Officer for adjudication afresh after examining the Memorandum of Association, Articles of Association and other relevant documents - I.T.A.Nos.2280 and 2281/Mds/1995 - - - Dated:- 23-3-2012 - SHRI N.S. SAINI, ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER. Appellant by : Shri Shaji P. Jacob, Addl. CIT Respondent by : Shri R.Vijayaraghavan, Advocate ORDER PER N.S. SAINI, ACCOUNTANT MEMBER These are appeals filed by the Revenue against separate orders of the ld.CIT(A), Coimbatore, both dated 21-08-1995, passed in assessment years 1987-88 and 1992-93. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court remitted the matter back in the present appeals to the Tribunal to consider the issue in the light of the directions of the Hon'ble Supreme Court. The ld. DR submitted that the Hon'ble Supreme Court decided a batch of appeals together with the appeal of CIT vs Ponni Sugars and Chemicals Ltd. The batch of appeals included the present assessee and also M/s Modern Engineers Construction Co-op. Society. All the appeals were restored back to the Tribunal with similar directions on the issue. He further submitted that the appeal of the Revenue in the case of M/s Modern Engineers Construction Co-op. Society has been thereafter decided by the Tribunal in favour of the Revenue vide order dated 15.4.2010, reported in [2011] 11 ITR (Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... indicated in the return of income of the Co-operative society to prove that the respective societies have engaged themselves in carrying on any of the several businesses referred to in sub-section (2) of section 80P of the Act. In this case, the Hon'ble Supreme Court has held as under: 18. Coming to the second question, namely, whether the assessee was entitled to exemption under section 80P(2) (a) (i) of the Income-tax Act, 1961 ( the 1961 Act ), in respect of interest received from the members of the society, we find that none of the authorities below, including the High Court have examined the memorandum of association filed by Sale m Co-operative Sugar Mills Ltd., Madurantakam Co-operative Sugar Mills Ltd., Ambur Co-operative S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n both sides are expressly kept open. 5. Before us, the appeals are filed by Revenue. Both the parties before us has not brought on record copy of Memorandum of Association and Articles of Association of the assessee-society nor produced copy of returns as filed by the assessee nor the relevant audit reports. In the absence of the above documents, we are not in a position to adjudicate the issue completely. The ld. DR prayed that the issue requires verification of records and therefore, the issue should be restored to the file of the Assessing Officer for proper verification to which the ld. A.R of the assessee submitted his no objection. In the above facts and circumstances, in our considered opinion, it shall be fair and in the intere ..... X X X X Extracts X X X X X X X X Extracts X X X X
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