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SHAILENDRA KUMAR YADAV, R.K.PANDA
Income-tax Officer,Ward 1 (3), Jalna – Appellant
Versus
MSEB Employees Co-op. Credit Society Ltd. – Respondent
Shailendra Kumar Yadav, Judicial Member - This appeal has been filed by the Revenue against the order of Commissioner of Income Tax (Appeal), Aurangabad, dated 01.01.2013 for A.Y. 2008-09 u/s. 154 of I.T. Act on the point of allowability of deduction u/s.80P of the I.T. Act, 1961.
2. Brief facts of the case are that the assessee is a Credit Co-operative Society of MSEB employees registered under Maharashtra Co-operative Societies Act, 1960. The assessee has filed return of income on 21.10.2008 declaring total income of Rs. 25,78,890/- without claiming deduction u/s.80P(2)(a)(i) of the Act. The return of income was processed u/s. 143(1) on 04.09.2009 accepting the income returned. Subsequently, the assessee has filed an application u/s. 154 of the Act requesting the Assessing Officer to allow deduction u/s.80P(2)(a)(i) of the Act. The Assessing Officer did not allow the deduction u/s.80P(2)(a)(i) of the Act and rejected the application filed by the assessee by passing order u/s.154 of the Act.
3. The matter was carried before first appellate authority, wherein the various contentions were raised on behalf of assessee and having considered the same, the CIT(A) on the point of rect
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