IN THE HIGH COURT OF KARNATAKA AT BENGALURU ON THE 25TH DAY OF FEBRUARY, 2019 BEFORE THE HON'BLE MR. JUSTICE RAVI MALIMATH AND THE HON'BLE MR. JUSTICE B. M. SHYAM PRASAD ITA NO.786 OF 2018 BETWEEN:
1. THE PR. COMMISSIONER OF INCOME-TAX CIT (A), 5TH FLOOR, BMTC BUILDING, 80 FEET ROAD, KORAMANGALA, BENGALURU- 560 095.
2. THE INCOME-TAX OFFICER, WARD – 2(2)(5), 2ND FLOOR, BMTC BUILDING, 80 FEET ROAD, KORAMANGALA, BENGALURU- 560 095. .. APPELLANTS (BY SRI K.V. ARAVIND, ADV.)] AND M/s. THE SOMAVAMSHA SAHASRAJUNA KSHATRIYA CREDIT CO-OPERATIVE SOCIETY, NO.43, G K TEMPLE STREET, BENGALURU- 560 053. … RESPONDENT THIS APPEAL IS FILED UNDER SECTION 260A OF THE INCOME TAX ACT, 1961, PRAYING TO SET ASIDE THE ORDERS PASSED BY THE INCOME-TAX APPELALTE TRIBUNAL, BENGALURU, IN ITA NO.1656/BANG/2017 DATED 08.06.2018 ETC.
THIS APPEAL COMING ON FOR ADMISSION THIS DAY, RAVI MALIMATH J., DELIVERED THE FOLLOWING:
JUDGMENT The appellants have raised the following substantial question of law:
i. Whether on the facts and in the circumstances of the case and in law in holding that the assessee- society is entitled to deduction under Section 80P(2)(a)(i) of the Act by following the decision of this Hon’ble Court in the case of CIT vs. Biluru Gurubasava Pattina Sahakari Sangha Niyamitha even when the assessee is not entitled to exemption under said section as conditions set out in said provision is not satisfied and the decision relied upon by the Tribunal has not reached finality ?
2. The aforesaid question of law has been answered by the judgment of this Court in the case of COMMISSIONER OF INCOME-TAX AND ANOTHER v. SRI BILURU GURUBASAVA PATTINA SAHAKARI SANGHA NIYAMITHA, BAGALKOT reported in [2014] 369 ITR 86.
3. Since the very same question of law has arisen for consideration in the present appeal and the same having been answered by this Court in the aforesaid case in favour of the assessee, the present appeal is disposed off by answering the substantial question of law in favour of the assessee and against the revenue. Hence, appeal is dismissed.
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JUDGE JUDGE Np/-