DHANASHRI MULTISTATE COOPERATIVE CREDIT SOCIETY LTD,MANGALVEDHE vs. ITO WARD 1 PANDHARPUR, PANDHARPUR
IN THE INCOME TAX APPELLATE TRIBUNAL
PUNE BENCHES “A”, PUNE
BEFORE DR.MANISH BORAD, ACCOUNTANT MEMBER
AND SHRI VINAY BHAMORE, JUDICIAL MEMBER
आयकर अपील सं. / ITA No.268/PUN/2024
Assessment Year 2020-21
Dhanashri Multistate Cooperative
Credit Society Ltd.,
Damaji Road, Murlidhar Chowk,
Mangalwedha, Dist Solapur- 413305
Maharashtra
PAN: AABAD1879N
Vs.
ITO, Ward-1,
Pandharpur
Appellant
Respondent
आदेश / ORDER
PER DR. MANISH BORAD, ACCOUNTANT MEMBER :
The captioned appeal at the instance of assessee pertaining to A.Y. 2020-21 is directed against the order dated
14.12.2023 of National Faceless Appeal Centre (NFAC) Delhi passed u/s.250 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) arising out of Assessment Order dated
20.09.2022 passed u/s.143(3) r.w.s144B of the Act.
This is a recalled matter. The Tribunal order dated 28.05.2024 has been recalled vide M.A.No.70/PUN/2024 order dated 18.03.2025. 3. At the outset, Ld. Counsel for the assessee submitted that the issue involved is regarding non-allowability of claim of deduction u/s.80P(2)(a)(i) and 80P(2)(d) of the Act and that Appellant by : Shri Pramod Shingte Respondent by : Shri Ramnath P Murkunde Date of hearing : 05.08.2025 Date of pronouncement : 14.08.2025 Dhanashri Multi State Cooperative Credit Society Ltd
2
ld.CIT(A) has already directed the ld. Assessing Officer to examine the claim of deduction u/s.80P(2)(a)(i) of the Act. He therefore prayed that the matter may please be restored to the file of Ld. Juri ictional Assessing Officer for necessary verification to which ld. Departmental Representative did not object.
We have heard the rival contentions and perused the record placed before us. We observe that the assessee is a Cooperative Society and filed its return of income for A.Y. 2020- 21 on 18.12.2020 declaring income of Rs.2,580/-. After the case being selected for scrutiny followed by validly serving statutory notices, assessment u/s.143(3) r.w.s.144B of the Act was framed assessing income at Rs.4,35,10,388/-, ld. Assessing Officer confirmed the action of CPC in the intimation u/s.143(1)(a) disallowing deduction u/s.80P of the Act at Rs.4,35,07,808/-. We further observe that aggrieved with the order of Assessing Officer assessee filed appeal before ld.CIT(A) and filed the complete details about its valid claim of deduction u/s.80P(2)(a)(i) and u/s.80P(2)(d) of the Act. We observe that ld.CIT(A) has accepted the assessee’s contention but for necessary verification has remitted the issue to the file of ld. JAO. Before us, Ld. Counsel for the assessee has requested to set aside the issue to the file of Ld. JAO for necessary verification.
Under these given facts and circumstances, we fail to find any infirmity in the order of ld.CIT(A) and observed that as assessee is eligible for deduction u/s.80P(2)(d) of the Act for the interest income earned on the investments with cooperative banks and is also eligible for deduction u/s.80P(2)(a)(i) of the Dhanashri Multi State Cooperative Credit Society Ltd
3
Act which has been dealt in detail by ld.CIT(A) in the impugned order. However, for necessary verification of the quantum of deduction u/s.80P(2)(a)(i) and u/s.80P(2)(d) of the Act, the issue is remitted back to the file of ld. JAO to examine the details and pass order in accordance with law. Ground of appeal raised by the assessee are allowed for statistical purposes.
In the result, appeal of the assesse is allowed for statistical purposes.
Order pronounced on this 14th day of August, 2025. (VINAY BHAMORE)
ACCOUNTANT MEMBER
पुणे / Pune; दनांक / Dated : 14th August, 2025. Satish
आदेश क ितिलिप अ ेिषत / Copy of the Order forwarded to :
अपीलाथ / The Appellant. 2. यथ / The Respondent. 3. The Pr. CIT concerned. 4. िवभागीय ितिनिध, आयकर अपीलीय अिधकरण, “A” बच, पुणे / DR, ITAT, “A” Bench, Pune.
गाड फ़ाइल / Guard File. आदेशानुसार / BY ORDER,
//// Senior Private Secretary
आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.