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TMI Blog2017 (3) TMI 1475X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is a certificate issued by the Registrar of Cooperative Societies, stating that the assessee is a primary agricultural credit society, we hold that the assessee is entitled to the benefit of deduction u/s 80P(2) of the Act. - ITA No 528/Coch/2014 - - - Dated:- 13-3-2017 - SHRI ABRAHAM P GEORGE, AM GEORGE GEORGE K, JM For The Assessee : Sh C B M Warrier, CA For The Revenue : Shri A Dhanaraj, Sr DR ORDER PER GEORGE GEORGE K,JM: This appeal is restored to the Tribunal by the judgment of the Hon ble Kerala High Court dated 16th Feb 2016 in ITA no.199 of 2015. 2 Brief facts of the case are as follows: The assessee is a cooperative bank registered as a primary agricultural credit society under the Kerala C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw 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 substantial 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 that Act. The parliament, having defined the term 'co-operative ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the authorities and the Tribunal that they are primary agricultura l 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- 1aws of any of the appellant or its class i fication by the competent authority under the KCS Act lS anything diff ..... X X X X Extracts X X X X X X X X Extracts X X X X
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