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The Pr. Commissioner Of Income Tax 17 vs M/S Annasaheb Patil Mathadi Kamgar ... on 18 November, 2022

Bench: Dinesh Maheshwari, Sudhanshu Dhulia

                                                       1

     ITEM NO.3                              COURT NO.7                        SECTION IX

                                  S U P R E M E C O U R T O F            I N D I A
                                          RECORD OF PROCEEDINGS

     SPECIAL LEAVE PETITION (CIVIL) Diary No(s). 5083/2020

     (Arising out of impugned final judgment and order dated 14-10-2019
     in ITA No. 933/2017 passed by the High Court of Judicature at
     Bombay)

     THE PR. COMMISSIONER OF INCOME TAX 17                                      Petitioner(s)

                                                      VERSUS

     M/S ANNASAHEB PATIL MATHADI KAMGAR
     SAHAKARI PATHPEDI LIMITED                                                 Respondent(s)

     (FOR ADMISSION and I.R.)
     (IA   No.36472/2020-CONDONATION   OF  DELAY   IN   FILING   and   IA
     No.36473/2020-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT)


     Date : 18-11-2022 This matter was called on for hearing today.


     CORAM :
                            HON'BLE MR. JUSTICE DINESH MAHESHWARI
                            HON'BLE MR. JUSTICE SUDHANSHU DHULIA

     For Petitioner(s)                 Mr. Balbir Singh, ASG
                                       Ms. Niranjana Singh, Adv
                                       Mr. Ashok Panigrahi, Adv
                                       Ms. Aakansha Kaul, Adv
                                       Mr. Akshay Amritanshu, Adv
                                       Mr. Rupender Sinhmar, Adv
                                       Mr. Naman Tandon, Adv
                                       Mr. Raj Bahadur Yadav, AOR

     For Respondent(s)                 Mr. Sachin Patil, AOR
                                       Mr. Geo Joseph, Adv.
                                       Mr. Muhammed Risvi, Adv.
                                       Mr. Durgesh Gupta, Adv.


                         UPON hearing the counsel the Court made the following
Signature Not Verified
                                                O R D E R

Digitally signed by Neetu Khajuria Date: 2022.11.19 It is noticed that a few of the cognate 12:10:55 IST Reason: appeals involving akin issues have not proceeded  2 further in this Court in view of low tax effect.

However, in the present matter, where the tax effect is said to be Rs.2,46,36,293/-, questions of law do arise for consideration. Hence, we deem it appropriate to consider this matter on merits.

Delay of 26 days in filing the petition is condoned.

Following substantial questions of law do arise in this case:

(i) As to whether on the facts and in the circumstances of this case, the Tribunal has erred in holding that the assessee is entitled to deduction under Section 80 P(2)

(a) & (d) of the Income Tax Act, 1961?

(ii) As to whether on the facts and in the circumstances of the case, the Tribunal has erred in allowing relief to the assessee by holding that the assessee, being a Cooperative Credit Society and not a Cooperative Bank, was entitled to deduction under Section 80P(4) of the Income Tax Act, 1961?

Leave granted.

List this matter for hearing in the month of April, 2023.

(NEETU KHAJURIA) (RANJANA SHAILEY) ASTT. REGISTRAR-cum-PS COURT MASTER