Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

The Income Tax Officer, Ward 1 (2) , Nashik Versus Nashik District Labour Societies Co-Op Federation, Nashik

2017 (1) TMI 679 - ITAT PUNE

Exemption u/s 80P(2)(a)(vi) - assessee is Co-operative Society and was Federation of Skilled and Unskilled labourers - Held that:- Tribunal for assessment years 2006-07, 2008-09 and 2009-10 held the assessee to be eligible to claim the aforesaid deduction. Assessing Officer also acknowledged that the issue was decided in favour of the assessee by the Tribunal in earlier years. However, since the appeal has been filed before the Hon’ble Bombay High Court against the decision of Tribunal, the said .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d in the absence of the same, we find no merit in the grounds of appeal raised by the Revenue. Following the same parity of reasoning and since the issue is settled in favour of the assessee by earlier order of Tribunal, we uphold the order of CIT(A) and dismiss the grounds of appeal raised by the Revenue. - ITA No. 1876/PUN/2014 - Dated:- 5-1-2017 - Ms. Sushma Chowla, JM And Shri Anil Chaturvedi, AM Appellant by : Shri Sudhanshu Shekhar Respondent by : Shri Harshal Nasikkar ORDER Per Sushma Cho .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

assessee society is a federation of primary societies which only supervises and co-ordinates the affairs of its members and cannot be said to be engaged in the collective disposal of the labour of its members within the meaning of section 80P(2)(a)(vi) of the Income-tax Act. ii) Whether in the facts and in the circumstance of the case the Ld. CIT(A)-I, Nashik was justified in holding that the assessee was engaged in the collective disposal of the labour of its members when there is no individual .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the order of Assessing Officer. 5. Briefly, in the facts of the case, the assessee was Co-operative Society which is registered under the Maharashtra State Co-operative Act. The assessee is providing credit facilities to its members. For the year under consideration, the assessee had filed the return of income declaring Nil income after claiming deduction under Chapter VIA. The explanation of assessee before the Assessing Officer was that it was federation of labour contract society. The assess .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the decision of Tribunal in assessee s own case and hence, the said deduction was not admissible to the assessee. The assessee s reference to the decision of Apex Court in Kerala State Co-operative Marketing Federation Ltd. Vs. CIT (supra) was held to be distinguishable on facts. 6. The CIT(A) allowed the claim of assessee following the decision of Tribunal in assessee s own case relating to assessment years 2006-07, 2008-09 and 2009- 10 in ITA Nos.62, 63 and 64/PN /2013, order dated 24.02.2014. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he record. The issue arising in the present appeal is against the claim of assessee of deduction under section 80P(2)(a)(vi) of the Act. The assessee is Co-operative Society and was Federation of Skilled and Unskilled labourers. The assessee claimed that its income was eligible for deduction under section 80P(2)(a)(vi) of the Act in the earlier years i.e. assessment years 2006-07, 2008-09 and 2009-10. The said claim was not allowed to the assessee. However, the Tribunal vide order dated 24.02.20 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version