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TMI Blog2024 (5) TMI 553X X X X Extracts X X X X X X X X Extracts X X X X ..... ying the assessee it s claim u/s. 80P, it ought to have considered it holistically, consistent with the assessee s claim u/s. 80P. What, in any case, we wonder, leads it to the inference of the assessee having not claimed deduction u/s. 80P, which is the basis of the disallowance? Besides, if the Revenue regards it as, and only rightly so, not a case of exemption, what prevents it to be regard it, as it considers it to be, and as it actually is, a claim of deduction. The Board per its Circular No. 14 (XL-35), dated 11.04.1955 which, being beneficial, as is trite law, binding on the Revenue [refer, inter alia, CIT v. Hero Cycles [ 1997 (8) TMI 6 - SUPREME COURT] clarifies that the Department must not take the advantage of the ignorance of an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s squarely covered by the judgment and order dated 05-06-2023 passed by this Hon ble Tribunal in assessee s own case being I.T.A. No. 938/Coch/2022, pertaining to period A.Y. 2016-2017, and prayed for similar relief as granted in said case. The Ld. D.R. appearing for the department did not raise any objection to this effect. 4. The brief facts of the case are that the assessee is a Primary Rural Agricultural Co-operative Credit Society duly registered u/s 7(1) of the Kerala Cooperative Society Act, 1961 (Act 21 of 1969) having registration no. K1119 dated 10-02-2012, as appears from the certificate dated 31-08- 2021 issued by the Assistant Registrar of Co-operative Societies (General), Changanacherry, which is annexed as page 13 of the PB. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h is the basis of the disallowance? Besides, if the Revenue regards it as, and only rightly so, not a case of exemption, what prevents it to be regard it, as it considers it to be, and as it actually is, a claim of deduction. The Board per its Circular No. 14 (XL-35), dated 11.04.1955 which, being beneficial, as is trite law, binding on the Revenue [refer, inter alia, CIT v. Hero Cycles [1997] 228 ITR 463 (SC)], clarifies that the Department must not take the advantage of the ignorance of an assessee to collect more tax than what is legitimately due. This also reflects the uniform view of the Hon ble Courts, as in Parekh Brothers v. CIT [1984] 150 ITR 105 (Ker), exhorting the Revenue to assist the tax payer in every way, particularly in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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