ORDER :

D.N. Patel, J.

1. This Tax Appeal has been preferred by the assessee being aggrieved and feeling dissatisfied by the order passed by Income Tax Appellate Tribunal, Ranchi Circuit Bench, Ranchi in ITA No.137/Ran/2010 for the assessment year 2004-05. The date of order is 5th December, 2014, when the appeal preferred by this appellant was dismissed and hence, the assessee has preferred the present Tax Appeal.

2. This Tax Appeal has been preferred mainly on the ground that this assessee is a Cooperative Society and is exempted from the payment of income tax upon the transfer fee received from the members.

3. This assessee is engaged in construction of dwelling units, which are being sold to several persons, who are becoming members of this assessee. Sizable transfer fee has been received and the deductions have been claimed, which are not allowed by the Assessing Officer.

4. It is contended by the counsel for the appellant that the interest receipt is covered under Section 80P(2)(a)(i) of the Income-tax Act and, hence, the interest receipt cannot be added to the income of this assessee. Thus, the addition of interest income made by the Assessing Officer at Rs.2,15,447/-and receipt t