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1 - 10 of 12 (0.41 seconds)Section 80 in The Income Tax Act, 1961 [Entire Act]
Section 80P in The Income Tax Act, 1961 [Entire Act]
The Khedbrahma Taluka Primary Teachers ... vs Asstt. Director Of Income Tax, Cpc, ... on 17 February, 2023
The Khedbrahma Taluka Primary Teachers Co.Op. Credit Society Ltd. vs. ITO
आदे श क त ल प अ े षत / Copy of Order Forwarded to:-
Principal Commissioner Of Income Tax 2 vs Sabarkantha District Cooperative Milk ... on 4 January, 2019
8.2. Further the Jurisdictional High Court in the case of CIT Vs.
Sabarkantha District Cooperative Milk Producers Union Ltd. (cited
supra) held as follows:
Section 57 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
State Bank Of India vs Assistant Commissioner Of Income Tax on 4 November, 2022
"7. We have heard both the parties and perused all the
relevant material available on record. It is pertinent to note
that the entire details called for during the assessment
proceedings were submitted by the assesses at the time of
assessment under Section 143(3) of the Act and the
Assessing Officer was very well aware that section 80P
claim was reflected in the details of the assessee. The
assessee vide letter dated 22.05.2017 submitted the details
regarding deduction under Section 80P of the Act which
was claimed in the return of income which included in the
interest income from Mehsana Urban Co-operative Bank.
The PCIT has issued the show cause notice under Section
263 on 14.02.2020 on the very same issue which was
verified by the Assessing Officer in Section 143(3)
proceedings itself. Once the issue verified by the Assessing
Officer and the jurisdictional Court has allowed the said
claim related to interest income earned from Co-operative
Bank, the PCIT cannot exercise Section 263 of the Act. The
Id. A.R. aptly relied upon the decision of State Bank of India
vs. CIT (2016) 72 Taxmann.com 64 dated 25.04.2016.
The Citizen Co-Operative Bank Ltd, New ... vs Acit, Circle-60(1), New Delhi on 23 January, 2023
We therefore follow hon'ble jurisdictional high court's judgment
than hon'ble Karnataka high court's decision. Coming to hon'ble
apex court's decision in the Citizen Co-operative Society Ltd.
(supra), we find that there is no dispute about the category of
members as it was before their lordships. We thus conclude in view
of all these facts and circumstances that hon'ble jurisdictional high
court's judgment is binding on us. We accordingly delete the
impugned disallowance of Rs.27,97,019/- in question. This lead
appeal ITA No. 1891/Ahd/2014 is partly accepted.