ITO, Bhilai Vs. Sewa Sahakari Samiti, Kalangpur

Parties Involved

Facts Summary

The assessee, a primary agricultural cooperative society, filed its income return for the assessment year 2017-18 on 24.10.2017, declaring an income of Rs. Nil. The case was selected for scrutiny assessment under Section 143(2) of the Income Tax Act, 1961. The Assessing Officer determined the income of the assessee society at Rs. 53,27,652/- after withdrawing its claim for deduction under Section 80P of the Act. The assessee carried the matter in appeal before the Commissioner of Income-Tax (Appeals), who allowed the appeal. The revenue carried the matter in appeal before the Income Tax Appellate Tribunal, Raipur.…

Legal Issues

• 1. Whether the Commissioner of Income-Tax (Appeals) was justified in deleting the addition made by the Assessing Officer by withdrawing the deduction claimed under Section 80P(2)(a)(i) of the Income Tax Act, 1961?
• 2. Whether the Commissioner of Income-Tax (Appeals) had erred in allowing the appeal of the assessee by allowing the deduction claimed by the assessee under Section 80P(2)(a)(i) of the Act which is not in consonance with the verdict of the Hon'ble Supreme Court of India in the case of Totgar's Co-operative Sale Society Ltd. Vs. ITO, Karnataka?
• 3. Any other ground which may be adduced at the time of hearing.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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