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TMI Blog2020 (5) TMI 212X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee.'' 2.1 The only issue in this appeal is regarding disallowance of deduction claimed u/s 80P of the I.T. Act, 1961. 2.2 The assessee is a cooperative society registered under Cooperative Society Act, 1953. The assessee is carrying on the business of banking or providing credit facilities to its members, purchase of agriculture implements, seeds, fertilizers, livestock and other articles used for agriculture activities. The assessee is also selling the control price items under Public Distribution Scheme (for short ''PDS'') of the Rajasthan Govt. like Sugar, Kerosene, Wheat etc. The assessee filed its return of income on 15-08-2016 declaring Nil income after claiming deduction of Rs. 27,45,889/- u/s 80P of the I.T. Act, 1961. The AO ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... details in support of the claim of deduction u/s 80P of the Act, the assessee has failed to furnish the requisite details. Even before the ld. CIT(A), the assessee has though challenged the order of the AO but without furnishing the supporting documentary evidence or necessary details. The ld. DR has relied on the orders of the lower authorities. 2.5 We have considered the rival submissions as well as the relevant materials available on record. There is no dispute that the assessee has claimed deduction u/s 80P of the Act in respect of its entire income. During the course of assessment proceeding, the AO has disallowed the claim of the assessee in para 4 (a) as under:- ''4. On scrutiny of the case, the following issue has been noticed: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee had not furnished any details with regard to this deduction. During the appellate proceedings also, the appellant has not furnished any evidence in support of the claim for deduction of Rs. 27,45,889/- made u/s 80P. Therefore, the disallowance made by the AO of deduction of Rs. 27,45,889/- claimed by the appellant u/s 80P is hereby confirmed. This ground of appeal is dismissed.'' We find that the profit & loss account as well as trading account of the assessee gives only the details of receipts/sales and expenditure incurred by the assessee during the year but it does not give details of segmentwise income for the purpose of verifying the claim of assessee's deduction u/s 80P of the Act. We find that some of the income during t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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