Bharati Sapru, J. - (1.) Heard learned counsel for the parties as the controversy involved in these appeals is identical, the same is being decided by a common judgment treating the Income Tax Appeal No.581 of 2011, as the leading case.
(2.) The Income Tax Appeal No.581 of 2011 has been filed under Section 260-A of the Income Tax Act (hereinafter referred to as 'the Act'). The following questions of law have been framed for determination by this Court:- "A. Whether upon the facts and circumstances of the case the Tribunal was justified in holding that entitlement of the assessee for deduction 80P of the Act is not relevant for charging addition Tax under section 143(1A) of the Act? B. Whether upon the facts and circumstances of the case the Tribunal was justified in upholding the adjustments made by the Assessing Officer under section 143(1) (a) of the Act for the provisions made for payment of gratuity and bonus which were made unilaterally and without opportunity to assessee to proof its payment before the due date within the meaning of Second proviso to Section 43B of the Act. C. Whether upon the facts and circumstances of the case the Tribunal was justified in upholding the adjustment made under section 143(1)(a), for the provisions for payment of gratuitybonus, without considering that there not being any positive income of the assessee in the previous year and no adjustment in the loss declared by the assessee has been made upon the facts and in the circumstances of the case? D. Whether debitable issues can be disallowed and adjusted by the assessing officer under section 143(1) (a) of the Act?"
(3.) The appellant is a co-operative society, incorporated under the Regional Rural Bank Act, 1976. It is said that it has been carrying out the business of banking under the said Act and Banking Regulations Act, 1949. Therefore, it is entitled to deduction of whole of amount of profit and gains of business attributable to the banking activity within the meaning of Section 80P(2)(i) of the Act. The Assessment Years involved in these appeals are 1990-91, 1994-95 and 1995-96. All these five appeals are arising out of common judgment and order dated 31.08.2004 passed by the Income Tax Appellate Tribunal, Allahabad Bench, Allahabad.;