TMI Blog2010 (11) TMI 1038X X X X Extracts X X X X X X X X Extracts X X X X ..... 80P (2)(a)(iii) was decided against the assessee vide para 21 and 22 of the said order which read as under:- 21. Ground No.1 That the learned CIT (A) was wholly unjustified in law and on facts in upholding the denial of exemption to income of ₹ 7,44,02,512/- u/s 80-P(2)(a)(iii) being ₹ 7,44,02,512/- u/s 80-P(2)(a)(iii) being income from marketing of agriculture produce of its members. The issue is covered by the principles laid down by the Apex Court on the provisions of section 80-P(2)(a)(iii). 22. The learned counsel for the assessee submitted that the point in issue is decided against the assessee by ITAT Delhi Bench in the case of the same assessee for the Assessment year 1992-93 vide order dated 15.5.2002 in IT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e with law. Accordingly, these appeals are allowed. The impugned order of the Tribunal is set aside. The matter is remanded to the Tribunal for fresh order in accordance with law. The parties are directed to appear before the Tribunal for further proceedings on December 22, 2009. 3. Accordingly, these appeals came up to be fixed as per order sheet entry dated 30th November, 2009 and were adjourned from time to time. Lastly these appeals came up for hearing on 16th November, 2010 when both the parties were heard on the issue. 4. Ld. AR has placed on our record the order of the Chandigarh Bench of the Tribunal dated 22nd December, 2009 in ITA No.1184/Chd/93 in the case of DCIT vs. The Morinda Co-op. Sugar Mills Ltd., wherein giving ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal of the Revenue and approved the stand of the Assessing Officer. Against such decision of the Tribunal, the assessee preferred appeal before the Hon ble Punjab Haryana High Court which is now disposed of by way of order dated 12.10.2009 (supra). The Hon ble High Court has remanded the issue to the Tribunal for passing a fresh order in accordance with law. 3. Before us, it was a common ground between the parties that the issue in question stands decided in favour of the assessee by the full Bench judgement of the Honble Punjab Haryana High Court in the case of Budhewal Coop. Sugar Mills Ltd. vs. CIT, 315 ITR 351 (SC). In fact, an observation to the same effect has also been made by the Hon ble Punjab Haryana High Court in its j ..... X X X X Extracts X X X X X X X X Extracts X X X X
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