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TMI Blog2017 (1) TMI 951X X X X Extracts X X X X X X X X Extracts X X X X ..... venue, is directed against the CIT(A) s order dated 22.6.2016. The relevant assessment year is 2012-13. 2 Though several grounds are raised, all the grounds related to the issue whether the CIT(A) is justified in directing the Assessing Officer to grant the benefit of deduction u/s 80P(2) of the I T Act to the assessee society. 3 Briefly stated the facts of the case are as follows: The assessee is a Cooperative Society registered under the Kerala Cooperative Societies Act, 1969. The return of Income for the assessment year 2012-13 was filed on 8.7.2013 declaring the total income at nil after claiming exemption u/s 80P(2) of the Act amounting to ₹ 38,92,714/-. The Assessing Officer, in the course of assessment proceedings, n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e circumstances of the case under consideration, the Tribunal is correct in law in deciding against the assessee, the issue regarding entitlement for exemption under section 80P, ignoring the fact that the assessee is a primary agricultural credit society? 6.1 In considering the above question of law, the Hon ble High Court rendered the following findings: 15. Appellants in these different appeals are indisputably societies registered under the Kerala co-operative societies Act, 1969, for sort, KCS Act and the bye-laws of each of them, as made available to this court as part of the paper books, clearly show that they have been classified as primary agricultural credit societies by the competent authority under the provisions of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... horities and the Tribunal that they are primary agricultural credit societies in terms of clause (cciv) of section 5 of the BR Act, having regard to the primary object or principal business of each of the appellants. It is also clear from the materials on record that the bye-laws of each of the appellants do . not permit admission of any other co-operative society as member, except may be, in accordance with the proviso to sub-clause 2 of section 5(cciv) of the BR Act. The different orders of the Tribunal which are impeached in these appeals do not contain any finding of fact to the effect that the bye- laws of any of the appellant or its classification by the competent authority under the KCS Act lS anything different from what we have sta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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