M/s Gondal Taluka Co-Op Sales & Purchase Union Ltd. vs. National e-Assessment Centre

Parties Involved

Facts Summary

During the assessment proceedings, the Assessing Officer disallowed the assessee's claim for deduction under section 80P(2)(e) of the Income Tax Act, 1961 for godown rent and under section 80P(2)(d) for share dividend and bank interest income. The assessee appealed against the order passed by the Commissioner of Income Tax (Appeals). The Tribunal allowed the deduction for godown rent under section 80P(2)(e) and for share dividend and bank interest income under section 80P(2)(d) of the Act.…

Legal Issues

• 1. Disallowance of deduction under section 80P(2)(e) for godown rent
• 2. Disallowance of deduction under section 80P(2)(d) for share dividend and bank interest income

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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