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2016 (4) TMI 1095 - ITAT JAIPUR

2016 (4) TMI 1095 - ITAT JAIPUR - TMI - Claim of deduction u/s 80P(2)(a)(i) denied - Held that:- The assessee has clearly demonstrated through its loan disbursed statement that during A.Y. 2008-09, it had disbursed 89.10% of its total loan disbursed towards agricultural and allied activities. Similarly, during A.Y. 2009- 10, the disbursement towards these activities was to the tune of 86.41%. Hence, we hereby confirm the claim of assessee for deduction u/s 80P(2)(a)(i) of the Act for both the ye .....

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ing common ground of appeal. The ld. CIT(A) has erred in law as well as on facts of the case by disallowing the claim of the assessee for deduction u/s 80P(2)(a)(i) of the Act. 2. At the outset, the ld. AR submitted that the issue involved in the present appeals for A.Y. 2008-09 and 2009-10 is the same as was in A.Y. 2007-08 i.e. whether the assessee was held entitled to the benefit of section 80P of the I.T. Act, 1961 by the Hon ble ITAT in ITA No. 764/JP/11 and ITA No. 938/JP/13. 2.1 In view o .....

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.27 8 37.17 73 343.44 105.67 3. Diversified 370.00 522 310.61 117 68.94 639 379.55 102.58 4. Non.agr 70.00 29 50.40 7 12,86 36 63.26 90,37 5. Rural Housing 50.00 0 34.91 3 .36 23 42.27 84.54 6. Crop loan - Total 950.00 798 21,22 168 147.24 966 968,46 101.94 A.Y. 2009-10 Sl .No. Name of Sector Targets Loan Disbursement % Achieved Upto Last Month Current Month Total No. Amount No. Amount No. Amount 1 Minor Irrigation 180.00 229 179.88 - G229 179.88 99.93 2. Farm Mech 190.00 39 187.67 - 39 187.67 9 .....

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