Sec. 80P of Income Tax Act, 1961— Deduction --- The assesseewas a Primary Agricultural Cooperative Society Limited.Two issues arise: (i) in relation to disallowance under Section 69A of the Act (ii) in relation to the claim of deduction under Section 80P of the Act. As regards the first issue, admittedly, no case has been made out to warrant interference under Article 226 of the Constitution of India. For the second issue, Primary Agricultural Cooperative Societies claimed deduction under Section 80P.The Assessing Officer has not pointed out that loans have been disbursed to all and sundry in terms of the provisions of the TNCS Act and in terms of Clause (b) to Sub-Section (4) of Section 80P of the Act,The CIT (A) rightly granted the relief to the assessee as confirmed by the Tribunal.Court do not find any good ground to entertain these appeals.
That the assesseewas permitted to file a statutory appeal challenging the order of assessment before the Commissioner of Income Tax (Appeals) within a period of three (3) weeks of order. No recovery of the demand in relation to deduction claimed under Section 80P be enforced till such time the appeal was disposed by the first appellate authority. Writ Petition was disposed --- KOMBANAIPUDUR WOMENS MILK PRODUCERS COOPERATIVE SOCIETY LTD. vs. Asstt. CIT.[2020] 23 ITCD Online 25 (MAD)