Palakkad District Co-operative Printing Press Limited v. The Income Tax Officer, Palakkad

Parties Involved

Facts Summary

The assessee, Palakkad District Co-operative Printing Press Limited, filed an appeal against the decision of the National Faceless Appeal Centre, Delhi, which refused the assessee's deduction claim under section 80P(2)(a)(ii) of the Income Tax Act, 1961. The Revenue argued that the assessee was not a cottage industry and thus not eligible for the deduction. The assessee did not appear for the hearing, leading to an exparte proceeding. The Tribunal noted that the Assessing Officer and the CIT(A) had invoked the CBDT circular No. 7/22 of 1995 for refusing the deduction. The Tribunal decided to restore the issue to the CITA/NFAC for a fresh examination of the assessee's compliance with the necessary conditions for being a cottage industry.…

Legal Issues

• 1. Whether the assessee is eligible for the deduction under section 80P(2)(a)(ii) of the Income Tax Act, 1961?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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