ANIL K. NARENDRAN, J.

This batch of Income Tax Appeals are listed before the Full Bench, after obtaining orders from the Hon'ble Acting Chief Justice, based on a reference order dated 09.07.2018 of the Division Bench. One of the substantial questions of law raised in these appeals is as to whether the respective assessees are eligible for exemption under Section 80P of the Income Tax Act, 1961, after the introduction of sub-section (4) thereof.

2. Before the Division Bench, the assessees contended that the issue is covered by the decision of a Division Bench of this Court in Chirakkal Service Co-operative Bank Ltd. v. Commissioner of Income Tax [(2016) 384 ITR 490 (Ker)]. On the other hand, the Revenue contended that the aforesaid decision was rendered without noticing the decision of yet another Division Bench in Perinthalmanna Service Co-operative Bank Ltd. v. Income Tax Officer and another [(2014) 363 ITR 268 (Ker)]. A reading of the order of reference would show that the learned Senior Counsel/learned counsel for the assessees raised certain grounds to dissuade the Divis