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D.T.GARASIA, P.K.BANSAL
Deputy Commissioner of Income-tax, Central Circle, Panaji, Goa – Appellant
Versus
Jayalakshmi Mahila Vividodeshagala Souharda Sahakari Ltd. – Respondent
Per Bench - All these appeals since involved common issue are being disposed by this common order at the outset both ld. AR and DR agreed that the facts involved and the issue involved in all these appeals relating to both the assessees namely Jayalaxmi Mahila Vividodeshagala Souharda Sahakari Ltd., Karwar and Dwarka Souharda Credit Sahakari Ltd, Karwar. The common affective grounds taken in all these appeals are reproduced as under: -
"1. Whether on the facts and circumstances of the case, the CIT(A) was correct in holding that the provisions of sub-section(4) of section 80P are applicable only to co-operative banks and not to credit co-operative societies, which are engaged in business of banking, including providing credit facilities to their members.
2. Whether on the facts and circumstance of the case, that CIT(A) was correct in holding that the assessee is a cooperative society and not a co-operative bank in terms of sub-section (4) of section SOP without considering the meaning of cooperative bank as envisaged under Part V of Banking Regulation Act 1949 wherein it is defined that co-operative bank includes primary co-operative bank, which is further defined as cooperative
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