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2020 (5) TMI 212 - AT - Income TaxDeduction u/s 80P - assessee has not given segment wise details of income earned by it from the core activity of the assessee cooperative society as well as from the non-core activity - HELD THAT:- Some of the income during the year under consideration has been earned by the assessee from the activity of selling the commodities like Sugar, Kerosene, Wheat etc. under the Public Distribution Scheme of Rajasthan Govt. These activities are not the core activity of the assessee society and the income from these activities would not be eligible for deduction u/s 80P. Core activity of the assessee society which includes credit facilities to its Members and supply of fertilizers and other materials used in the agricultural activity to the members, the same is eligible for deduction u/s 80P - interest earned by the assessee from the deposits with another cooperative banks is also eligible for deduction u/s 80P but the interest earned from the saving bank account kept with schedule bank or non-cooperative bank is again a matter of dispute, so far as the eligibility of deduction u/s 80P of the Act is concerned. In the absence of these segmentwise details and income from different activities bifurcating into the category of core activity and ancillary activity to the core activity as well as non-core activity, it is not possible to consider the claim of deduction u/s 80P - set aside this issue to the record of the AO to verify the segmentwise details of income from core activities of the assessee as well as non-core activity to be filed by the assessee and then allow the claim of the assessee u/s 80P of the Act in respect of income from the core activity of the assessee. Appeal of the assessee is allowed for Statistical purposes.
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