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2012 (3) TMI 559 - AT - Income TaxEntitled to exemption under section 80P(2)(a)(i) - Held that:- We find that the Hon'ble Supreme Court, in the case of CIT vs Ponni Sugars and Chemicals Ltd. reported in [2008 (9) TMI 14 - SUPREME COURT ], has remitted the matter back to the file of the Tribunal for examining the Memorandum of Association, Articles of Association, return of income and status of business indicated in the return of income of the Co-operative society to prove that the respective societies have engaged themselves in carrying on any of the several businesses referred to in sub-section (2) of section 80P of the Act. In the above facts and circumstances, in our considered opinion, it shall be fair and in the interest of justice to restore the issue back to the file of the Assessing Officer for adjudication afresh after examining the Memorandum of Association, Articles of Association and other relevant documents
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