S. 14A not be invocable to disallow set off of carried forward losses in case of co-operative society

ITAT PUNE BENCH ‘A’ Assistant Commissioner of Income-tax versus Osmanabad Janta Sah. Bank Ltd. IT Appeal No. 795 (PUNE) of 2011 [ASSESSMENT YEAR 2007-08] AUGUST 31, 2012 ORDER R.S. Padvekar, Judicial Member In this appeal the Revenue has challenged the impugned order of the CIT(A), Aurangabad, dated 04.03.2011 for the A.Y. 2007-08. Ground No. 1(5) reads as under: “On the facts and in the circumstances of the case, the Ld. CIT(A), Aurangabad, was not justified in deleting addition made on account of sticky advances of Rs. 6,86,73,957/-. The Ld.CIT(A) erred in...