9911796707
TMI Blog2015 (10) TMI 2677X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961 out of total income of the society in total disregard to the fact that assessee is a cooperative society and fulfills all the condition laid down in the aforesaid section. ii) following the illegal and erroneous finding of his ld predecessor in office despite the fact that every assessment under the IT Act is independent and it was open to appreciate evidence tendered before him. iii) holding that assessee is not a primary Cooperative agricultural Credit Society and thus denying exemption U/s 80P(2)(a)(i) of IT Act, 1961 as claimed by the appellant." 2. All the grounds of the appeal are interlinked and against denying deduction of Rs. 83,67,254/- U/s 80P(2)(a)(i) of the Income Tax Act, 1961 (in short the Act) by the ld CIT(A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, therefore, he has not allowed deduction U/s 80P(2)(a)(i) of the Act. 3. Being aggrieved by the order of the ld Assessing Officer, the assessee carried the matter before the ld CIT(A), who had confirmed the addition by observing as under:- "4.3 I have carefully considered the findings of the A.O. as also the submission of the appellant. It may be noted that the identical issue in the case of the appellant in respect of A.Y. 2008-09 was decided by worthy CIT(Appeals) in ITA No. 314/JPR/10-11 vide order dated 29/08/2011 and addition made by the A.O. on the same pattern was confirmed. The worthy CIT(Appeals) has held that the appellant was not illegible for deduction 80P after amendment w.e.f. 01/04/2007. Following the decision in r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in ITA No. 999/JP/2011 for A.Y. 2008-09 and ITA No. 177/JP/2013 for A.Y. 2009-10. The operative portion of the of order dated 11/08/2015 is reproduced as under:- "6. We have heard the rival contentions of both the parties and perused the material available on record. After going through the case laws cited by the assessee as well as byelaws of society, revealed that the assessee is not a cooperative bank but cooperative society. The exclusive provision to Sub-section (4) of Section 80P is not applicable in the case of the assessee. The case law referred by the assessee in the case of CIT Vs. Jafari Momin Vikas Cooperative Credit Society Ltd. (supra) is squarely applicable. The Hon'ble Gujarat High Court has held as under:- "From the abo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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