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TMI Blog2022 (7) TMI 1055X X X X Extracts X X X X X X X X Extracts X X X X ..... th a co-operative bank would be eligible for claim of deduction under section 80P(2)(d) - In the case on hand, the CIT(A) has not disposed of the appeals on merit citing reasons that the assessee has not furnished complete details of the ITR, we deem it appropriate to restore the matter to the file of the Ld.CIT(A) for deciding the appeal fresh - Appeal of the assessee is allowed, for statistical purpose. - ITA No. 2390 to 2392/Mum/2021 - - - Dated:- 22-7-2022 - Shri Prashant Maharshi (Accountant Member) And Kavitha Rajagopal (Judicial Member) For the Assessee : Shri Abhay Baxi For the Department : Shri Himanshu Sharma ORDER PER KAVITHA RAJAGOPAL (JM): This appeal is filed by the Assessee as against the order o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal Faceless Appeal Centre (NFAC) upheld the action of the CPC by holding that the copy of return with schedules was not submitted; therefore, in the absence of the same, it could not be refuted that the ground taken by CPC for disallowing deduction under section 80P was incorrect and the AOs rectification order holding that there was no infirmity in the CPC order was incorrect. Further aggrieved, the assessee is in appeal before the Tribunal. 4. The Ld.AR appearing for the assessee before submitted that the assessing officer has disallowed the claim of the assessee on the ground that investments in co-operative society includes only co-operative housing societies and not applicable to co-operative banks whereas the assessee, in the pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In the case of New Ideal Co-operative Housing Society Ltd ITA No.2681/Mum/2019 dated 03/02/2021 and also in the case of M/s Solitaire CHS Ltd vs Principal Commissioner of Income-tax in ITA No.3155/Mum/2019 dated 29/11/2019, the G Bench of this Tribunal, vide order dated November 29, 2019 held that the interest income earned by a cooperative society on its investments held with a co-operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Act. In the case on hand, the CIT(A) has not disposed of the appeals on merit citing reasons that the assessee has not furnished complete details of the ITR, we deem it appropriate to restore the matter to the file of the Ld.CIT(A) for deciding the appeal fresh after calling ..... X X X X Extracts X X X X X X X X Extracts X X X X
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