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Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE
Before: SHRI R.S. SYAL & SHRI VIKAS AWASTHY, JM
आदेश / ORDER आदेश आदेश आदेश
PER R.S.SYAL, VP :
This appeal by the Revenue is directed against the order passed by the CIT(A)-6, Pune, dated 26-08-2016 in relation to the assessment year 2012-13.
The only issue in this appeal is against granting deduction u/s. 80P(2)(A)(i) of the Income-tax Act, 1961 (hereinafter also called as ‘the Act’) despite the judgment of the Hon’ble Supreme Court in Totgar’s Co-operative Society vs. ITO 322 ITR 283.
Briefly stated, the facts of the case are that the assessee is a Co-operative Society registered under Maharashtra Co-operative Societies Act, 1960. It is engaged in providing credit facilities to its members and the main activity of the society is to disburse and recover loans to/from its members. The members of the society are permanent employees of Tata Motors, Pimpri, Pune.
ITA No.2596/PUN/2016 Tata Motors Karamchari Sahakari Patpedhi Ltd.,
The assessee claimed deduction u/s. 80P of the Act, inter alia, on
interest income of Rs.96,32,941/- earned from Bank of India on
Fixed Deposits. The AO denied the benefit of deduction on such
interest income. The Ld. CIT(A), following the Tribunal order
passed in the case of the assessee itself for the A.Y. 2009-10,
allowed the deduction in respect of interest on deposits, against
which the Revenue has come up in appeal before the Tribunal.
Having heard both the sides and perused the relevant
material on record, it is observed that the Ld. CIT(A) decided the
issue in assessee’s favour by relying on the order passed by the
Tribunal in assessee’s own case for a preceding year. This order
also took into account the ratio in the case of Totgar’s Co-
operative Society (supra). Nothing has been brought on record to
demonstrate that the said order of the Tribunal has been reversed
or modified by the Hon’ble High Court in any manner. In the
absence of any distinguishing features for the instant year and
respectfully following the precedent given in the case of the
assessee itself, we uphold the impugned order.
In the result, the appeal is dismissed.
Order pronounced in the Open Court on 02nd November,
2018.
Sd/- Sd/- (VIKAS AWASTHY) (R.S.SYAL) �याियक सद�य �याियक �याियक �याियक सद�य सद�य /JUDICIAL MEMBER उपा�य� सद�य उपा�य� उपा�य�/ VICE PRESIDENT उपा�य�
पुणे Pune; �दनांक Dated : 02nd November, 2018 सतीश
ITA No.2596/PUN/2016 Tata Motors Karamchari Sahakari Patpedhi Ltd.,
आदेश क� आदेश क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order is forwarded to : आदेश आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत
अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2. आयकर आयु�(अपील) / The CIT (Appeals)-6, Pune. 3. आयकर आयु� / The Pr. CIT-5, Pune 4. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे “बी 5. बी बी” / DR ‘B’, बी ITAT, Pune; गाड� फाईल / Guard file. 6.
// True copy // आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER,स आदेशानुसार
// True Copy //
Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune *