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TMI Blog2019 (8) TMI 655X X X X Extracts X X X X X X X X Extracts X X X X ..... l questions of law for the consideration of this Court:- (i) Whether on the facts and in circumstances of the case and in law, the Income Tax Appellate Tribunal is justified in upholding the decision of the Ld. CIT(A) by deleting the addition of Rs. 3,00,000/made on account of disallowance of payment of education Fund? (ii) Whether, on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal is justified in upholding the decision of the Ld. CIT(A) by deleting the addition of Rs. 6,57,614/made on account of disallowance of claim of payment made to members of welfare fund? (iii) Whether, on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal is justified in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment Year 2007-08. The issue was decided in favour of the assessee by holding that the bank was obliged to maintain good relations with its members and for that purpose, the expenditure was being incurred towards the welfare of the members. The CIT(A) also placed reliance on the decision of the Court in the case of Karjan Cooperative Cotton Sales Ginning & Pressing Society Vs. CIT 199 ITR 17. Ultimately, the assessee succeed in the appeal before the CIT(A). 5. The Revenue being dissatisfied with the order passed by the CIT(A) preferred an appeal before the Income Tax Appellate Tribunal. The ITAT concurred with the findings recorded by the CIT(A) and ultimately, held as under in Para13 of its impugned order. The Para13 reads thus:- 13. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al) has decided the issue as under: I have duly considered the judgment of the Hon'ble Gujarat High Court in the case of Taluka Coop. & Sale Union Ltd. (126 ITR 413) where expenditure incurred for purchase of articles for presentation only to its members for keeping alive good image among members and for generating goodwill and ensuring continuity of business with member societies was geld to the expenditure incurred wholly and exclusively for the purpose of business. The facts of the appellant's case, in so far as the above decision is concerned, differ only to the extent that in the relied upon case the household stainless steel utensils were distributed to the members of the said Coop. Society, whereas the bank asked the membe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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