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TMI Blog2022 (1) TMI 983X X X X Extracts X X X X X X X X Extracts X X X X ..... ty registered under the Karnataka Souharda Sahakari Act, 1997 is also entitled to the benefit of section 80P of the I.T.Act, the matter is restored to the files of the A.O. The A.O. is directed to examine the claim of deduction u/s 80P of the I.T.Act afresh and decide the issue in accordance with law. Thus we set aside the order of CIT(A) and restore the issue to AO to examine the claim u/s. 80P of the Act as directed by the Tribunal- Appeal filed by the assessee is treated as allowed for statistical purposes. - ITA. No. 453/Bang/2021 - - - Dated:- 17-11-2021 - Shri N.V. Vasudevan, Vice-President For the Assessee : Shri Prakash Hegde, CA For the Revenue : Shri Ganesh R Ghale, Standing Counsel ORDER PER N.V. VASUD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the order of the AO and hence the assessee has filed the present appeal before the Tribunal. 4. At the time of hearing, the ld. Counsel brought to our notice that ITAT, Bangalore bench in assessee s own case for AY 2015-16 in ITA No. 193/Bang/2021 order dated 20.09.2021, an identical issue has held that assessee is entitled to deduction u/s. 80P of the Act. The Tribunal held as follows. 7. I have heard rival submissions and perused the material on record. The primary reason for the Assessing Officer to deny the benefit of deduction u/s 80P of the I.T.Act was that the assessee was only registered under the Karnataka Souhardha Sahakari Act, 1997, and therefore, was not a cooperative society within the purview of section 2(19) of the I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , or under any other law for the time being in force in any State for the registration of co-operative societies ; 7. As can be seen from the aforesaid definition of Co-operative society under the Act, any co-operative society registered under any other law of any State for registration of co-operative society is also regarded as cooperative society under the Act. Souhardas also operate on the principle of co-operation and adopt the principles of co-operation. Cooperative Societies and Cooperatives are all founded on the principle of cooperation. 8. Since the beginning of mankind the concept of co-operation has been the foundation for harmonious existence In India, the Cooperative Societies Act 1912 regulated formation, mana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n set up a committee by appointing Shri Chaudari Brahmaprakash as its head with a task of drafting a Model Cooperative Act which will prevent interference of the governments. This committee, after a detailed study of the Cooperative Acts of various states, drafted a Model Cooperative Act in 1991 and Central Government recommended the state governments to adopt this. Accordingly, in 1997 a bill on parallel cooperative act was tabled in the state legislature of Karnataka. Demanding an early approval of this bill by both the houses of Karnataka Legislature, a committee Souharda Samvardhana Samithi under the chairmanship of Justice Rama Jois came into existence. It was due to the combined efforts of Sahakara Bharathi Karnataka and Souha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erative societies. Therefore the conclusion of the revenue authorities that co-operative societies and cooperatives are different and that cooperative registered as Souharda Sahakari cannot be regarded as co-operative societies is unsustainable. We therefore hold that the Assessee should be allowed deduction u/s.80P(2)(a)(i) of the Act, as the ground on which the same was denied to the Assessee is held to be incorrect. However, the other conditions for allowing deduction u/s. 80P(2)(a)(i) of the Act needs to be examined by the AO. I, therefore, remand the question of allowing deduction u/s. 80P(2)(a)(i) of the Act to the AO, except the issue already decided above. 12. In the result, appeal by the Assessee is allowed for statistical pur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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