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2011 (4) TMI 779 - PUNJAB AND HARYANA HIGH COURTDeduction u/s 80P(2)(e) - The appellant relied upon order of this Court dated 8.9.2010 in ITA No.157 of 2005 The Commissioner of Income Tax, Panchkula Vs. M/s Haryana State Coop. Supply and Marketing Federation Limited, Panchkula holding that deduction under Section 80P(2)(e) is available only in respect of income from letting out for storage and if the assessee used the storage only for marketing, the deduction is not permissible - Hald that: the assessing officer was clearly erroneous and prejudicial to the interest of the revenue which justified invocation of powers under Section 263 of the Act - The view taken by the Tribunal cannot, thus, be sustained - The appeal is allowed in favour of revenue.
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