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Facts
The appellant, a cooperative housing society, claimed deduction under Section 80P(2)(d) of the Income Tax Act. The Assessing Officer (AO) denied this deduction, and the Commissioner (Appeals) upheld the AO's order.
Held
The Tribunal held that the issue regarding the appellant's entitlement to deduction under Section 80P(2)(d) had already been decided in its favour in previous assessment years by the ITAT and relied on Supreme Court decisions.
Key Issues
Whether the cooperative housing society is entitled to deduction under Section 80P(2)(d) of the Income Tax Act, especially when the same has been allowed in its own case for earlier years.
Sections Cited
80P(2)(d)
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Income Tax Appellate Tribunal, Mumbai “(SMC
Before: Smt. Kavitha Rajagopal (JM) & Shri Omkareshwar Chidara (AM)
The only ground of appeal taken by the appellant society before the ITAT is that the appellant is entitled for deduction u/s. 80P(2)(d) of the Act and Ld. CIT(A) erred in confirming the order of the Ld. AO who denied the above said deduction.
During the hearing before the ITAT, the Ld. AR of the appellant has filed a copy of the ITAT Mumbai order in his own case for A.Y. 2013-14, where it was held that the appellant cooperative housing society is entitled for deduction u/s. 80P(2)(d) of the Act vide dated 9.3.2018. From the copy of the order of the ITAT, it is observed that the issue is already decided in favour of the appellant vide above order in his own case. Apart from this, Ld. AR of the appellant has filed a legal paper book in which he relied on the decision rendered in his own case in A.Y. 2020-21, where the appellant society got relief and in this order, the coordinate Bench placed reliance of Hon'ble Supreme Court in the case of Mavilayi Services Cooperative Bank Ltd. (431 ITR 1)(SC). The appellant
2 Mayoor Cooperative Housing Society Ltd. society placed reliance on the decisions of Coordinate Benches viz., PCIT Vs. Ashvin Kumar Arban Cooperative Society Ltd. (168 taxman.com 314), Kaliandas Udyog Bhavan Premises Cooperative Society Ltd. (ITA No. 6547/Mum/2017), Ashok Tower “D” Cooperative Housing Society Ltd. Vs. ITO (163 taxmann.com 598), Sai Ankur Cooperative Housing Society Vs. ITO (171 taxmann.com 44) and Mullanpur Garibdas Cooperative Multipurpose Society Vs. PCIT (163 Taxmann.com 598).
In all these decisions, including the decision of Hon'ble Supreme Court in the case of Mavilayi Services Cooperative Bank Limited Vs. Ld. (supra) and the decisions rendered in appellant’s own case in earlier years, facts and circumstances are similar and hence it was pleaded that the addition made by the Ld. AO by denying deduction u/s. 80P(2)(d) of the Act may be set aside.
Ld. DR relied on the orders of the lower authorities.
Heard both sides. In view of the several decisions mentioned above including that of Hon'ble Supreme Court decision and decision in appellant’s own case in earlier year, it is decided to delete the addition made by the Ld. AO relating to denial of the deduction u/s. 80P(2)(d) of the Act.
Appeal of the appellant-society is allowed. Order pronounced in the open Court on 24/02/2025.