Ita/100064/2018 Of M/S.prabhulingeshwar Souudhard Credit v. The Commissioner Of Income Tax (Appeals)

IN THE HIGH COURT OF KARNATAKA,DHARWAD BENCH DATED THIS THE 23 DAY OF FEBRUARY 2022. PRESENT| THE HON’‘BLE MR. JUSTICE S.G. PANDIT AND THE HON’‘BLE MR. JUSTICE ANANT RAMANATH HEGDE ITA No. LO0QQ064 OF 2 BETWEEN: M/S. PRABHULINGESHWAR SOQUHARDA CREDIT|CO-OPERATIVE LIMITEDMUDHOL ROAD, A/P SIDDAPUR,|TALUK JAMAKHANDI, DIST:BAGALKOT,REP. BY ITS GENERAL MANAGER, SHRI. MAHALINGAPPA A JALAWADI,AGE ABOUT YEARS, OCC:SERVICE,MUDHOL ROAD, A/P SIDDAPUR,|TALUKA:JAMKHANDI, DIST:BAGALKOT-587301. APPELLANT (BY SRI.LSANGRAM S KULKARNI, ADVOCATE) ANI 1.|THE COMMISSIONER OF INCOME TAX (APPEALS) 3 FLOOR, PHIROZ KHIMJIBAI COMPLEX, OPP. CIVIL HOSPITAL, DR. AMBEDKAR ROAD,BELGAUM-590001.BELGAUM-590001. 2 |THE INCOME TAX OFFICER WARD NO.2, BAGALKOT, | BELGAUM-58/301. ., RESPONDENTS. (BY SRI. Y.V. RAVIRAJ, ADV.) THIS APPEAL IS FILED UNDER SECTION 260(A) OF THEINCOME TAX ACT, 1961 PRAYING TO ALLOW THE APPEAL BY|ANSWERING THE SUBSTANTIAL QUESTION OF LAW IN.FAVOUR OF THE APPELLANT AND SET-ASIDE THE ORDER.DATED /7.9.2018 PASSED BY THE INCOME TAX APPELLATETRIBUNAL, BENGALURU IN ITA NO.229/BANG/2018 ALSO.SET-ASIDE THE ORDER DATED 2.11.201L/7 PASSED BY THCOMMISSIONER OF INCOME TAX (APPEALS), BELGAUM IN|ITA NO.19/BGM/2014-15 AND SO ALSO SET-ASIDE THE)ASSESSMENT ORDER PASSED BY THE INCOME TAX OFFICER|WARD 2, BIJAPUR, DATED 10.3.2014 FOR A.Y. 2011-12. THIS APPEAL COMING ON FORFINAL HEARING, THIS|DAY,ANAN |RAMANA IFHEGDE|JzPASSEDTHE|FOLLOWING: ORDER This appeal is filed impugning the orders dated7.9.2018 passed by the Income Tax Appellate Tribunal,|BengaluruinLTA]No.229/BANG/2018,order|dated2.11.2017 passed by the Commissioner of Income Tax(Appeals), Belagavi in ITA No.19/BGM/2014-15 and also.assessment order dated 10.3.2014 passed by the Income.Tax Officer, Ward 2, Bijapur for the Assessment Year.2011-12.. 2.Tne question that arises for consideration in.this appeal is, whether the benefit of Section 80P(2)(a)(i).of the Income Tax Act, 1961 (for snort, IT Act’) can be) extended to tne co-operatives registered under the)Karnataka Sounarda Sanakari Act, 1997/7 (for. snor‘Sounarda Act ). 3.Tne aforesaid question was answered by tneco-ordinate Bench of this Court in WA No.378/2020 and|connected matters in terms of the judgement dated)20.17.7071| 4.In terms of the aforesaid judgment, the benefitof Section 80P(2)(a)(i) of the IT Act is extended to theco-operatives registered under the Sounarda Act. In the)impugned orders, the benefit of aforementioned provision|of law is not extended to the appellant. Since declaration.of law is in favour of the present appellant in terms of the)jJuagment rendered in WA No.378/2020 and connectedmatters referred to supra. Appeal deserves to be allowed |and the benefit of Section 80P(2)(a)(i) of the IT Act has tobe extended to the present appellant. 5.Hence, the following: ORDER 1)Tne appeal is allowed. JTR =)Tne impugned orders dated 7.9.2018|passed by the Income Tax Appellate|Tribunal,BengaluruinLTA]No.229/BANG/2018,.orderdated2.111.201/passedDYtneCommissioner|OT|Income.Tax(Appeals), BelagaviinITANo.19/BGM/2014-15.and.alsothe.assessment order dated 10.3.27201passed by tne Income Tax Officer,|Ward 2, Bijapur for the Assessment|Year 2011-12, are set-aside.passed by the Income Tax Appellate|Tribunal,BengaluruinLTA]No.229/BANG/2018,.orderdated2.111.201/passedDYtneCommissioner|OT|Income.Tax(Appeals), BelagaviinITANo.19/BGM/2014-15.and.alsothe.assessment order dated 10.3.27201passed by tne Income Tax Officer,|Ward 2, Bijapur for the Assessment|Year 2011-12, are set-aside. ?)The benefit of Section 80P(2)(a)(i) of|tne IT Act is extended to tne appellant|in terms of the judgment dated|21.17.7071|renderecDYthe.CO-ordinate Bench of this Court in WA!No.378/2020 and connected matters.tne IT Act is extended to tne appellant|in terms of the judgment dated|21.17.7071|renderecDYthe.CO-ordinate Bench of this Court in WA!No.378/2020 and connected matters. ?)The benefit of Section 80P(2)(a)(i) of|tne IT Act is extended to tne appellant|in terms of the judgment dated|21.17.7071|renderecDYthe.CO-ordinate Bench of this Court in WA!No.378/2020 and connected matters.tne IT Act is extended to tne appellant|in terms of the judgment dated|21.17.7071|renderecDYthe.CO-ordinate Bench of this Court in WA!No.378/2020 and connected matters. SDJUDGE SDJUDGE