INCOME TAX OFFICER WARD- SEONI, SEONI vs. JILA SAHKARI KENDRIYA BANK MARYADIT, SEONI

In the result, all the Appeals and CO (# 7/2018) are allowed for statistical purposes, and CO (# 5/2018) is partly allowed for statistical purposes

Bench: Shri Sanjay Arora, Hon’Ble & Shri Manomohan Das, Hon'Ble

80-P, for instance, was applicable to the cooperative banks as the assessee, only for that reason, and not because they were banking companies, which they continue to be. Continuing further, even granting applicability of sec. 43D, i.e., for the sake of argument, the same would be of little assistance to the assessee in the facts and circumstances