ITO, WARD-1(5), JODHPUR vs. PUSTIKAR SAKH SAHAKARI SAMITI LTD., JODHPUR

ITA 395/JODH/2019Status: DisposedITAT Jodhpur07 July 2023AY 2016-1712 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee is a cooperative society and not a cooperative bank, thus eligible for deduction under Section 80P. This decision was based on previous orders of the jurisdictional ITAT in the assessee's own case, which followed High Court judgments.

What were the facts?

The Revenue appealed against the CIT(A)'s order allowing deduction under Section 80P to the assessee, a cooperative society engaged in banking business. The Assessing Officer had disallowed this deduction, considering the assessee to be a cooperative bank. The assessee argued it was a cooperative society, not a bank, and had previously won similar appeals before the ITAT.

What were the issues?

The key issue was whether the assessee, a cooperative society engaged in banking activities, qualified for deduction under Section 80P or was excluded as a cooperative bank under Section 80P(4).

Which sections of the Income-tax Act were involved?

Section 80P,Section 80P(4),Section 80P(2)(a)(i)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH, JODHPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM

For Appellant: Shri Lovish Kumar, CIT-DR
Hearing: 04/07/2023Pronounced: 07/07/2023

Heard together (2 matters)

ITA Nos. 395/Jodh/2019
ITA Nos. 90/Jodh/2020

Read from the judgment's own cause title. This page is filed under one of them.

PER: Dr. S. Seethalakshmi, JM

These two appeals are filed by the Revenue against the orders of the Learned Commissioner of Income Tax (Appeals)-1, Jodhpur [herein after Pustikar Sakh Sahakari Samiti Ltd. “Ld.CIT(A)”] both dated 24. 09.2019 & 25.02.2020 for the assessment years 2016-17 & 2017-18 respectively.

2.

Since, the facts of both the cases are identical, we have heard these cases together and passing the order together. The facts and grounds are taken from the fol

The order continues below.

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