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(5) That the above legal provisions also came up for consideration of the Hon'ble ITAT on the last date of hearing which took place on 23-08-2017 And for the above submissions, it is requested that the above appeal may kindly be admitted for adjudication of the issue involved therein.

I.T.A. No. 687/Hyd/2017 :- 3 -:

9. VALIDITY OF ORDER under Sec. 271FA of the Act:
9.1 As per Rule 114E of LT. Rules, the information referred to in AIR read with Sec. 285BA of the Act, only a BANKING COMPANY AND COOP. BANK are bound to furnish the above information whereas the assessee's case, being a COOPERATIVE SOCIETY, is not covered by Sec. 285BA of the Act.

9.3 Even the Hon'ble Supreme Court held in its latest order in Civil Appeal No. 10245/2017, dt 08-082017 to the effect that the assessee is not a Cooperative Bank Vide para 24 there of. However, the Hon'ble S.C. denied such claim under Sec. 80P(2)(a)(i) of the Act on some other grounds holding to the effect that the assessee is also rendering services to NOMINAL MEMBERS and a M.A. against such finding is pending adjudication before the Hon'ble Supreme Court.

9.4 However, the fact remains in the instant case is that the assessee's Status cannot be regarded as a COOP. Bank as per the decisions of the Hon'ble ITAT in assessee's same case for the A.Y. 2012-13 and even as per the latest order of the Hon'ble Supreme Court for the A.Y. 2009-10 as envisaged above. Thus the provisions contained in Sec. 285BA read with Rule 114E of the Act are not applicable to the assessee's case and thus the LEVY UNDER SEC. 271FA may be VOID ABINITIO. Hence, it is prayed that the impugned PENALTY UNDER SEC. 271FA may be ordered to be SET ASIDE treating the same as NON EST. IN LAW".