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Issues involved: Appeal by revenue against CIT(A) order for A.Y. 2007-08 regarding deduction u/s 80P(2)(a)(vi) for a Dist. Federation of Labour Co-op. Societies.
Summary: The appeal was filed by the revenue against the CIT(A) order for A.Y. 2007-08 concerning the entitlement of the assessee to deduction u/s 80P(2)(a)(vi). The assessee, a co-operative society, provided services to its Member societies and claimed deductions under various sections of the Act. The Assessing Officer disallowed the deduction u/s 80P(2)(a)(vi) and recomputed other deductions. However, the CIT(A) allowed the claim, leading to the revenue's appeal. The Tribunal noted that similar disallowances were made in previous years but were overturned by the Tribunal and upheld by the CIT(A). Citing a judgment of the Hon'ble Supreme Court, the Tribunal upheld the CIT(A)'s decision to allow the deduction u/s 80P(2)(a)(vi) of the Act. Consequently, the appeal of the revenue was dismissed. In conclusion, the Tribunal upheld the CIT(A)'s decision to allow the deduction u/s 80P(2)(a)(vi) for the co-operative society, based on past precedents and legal principles, leading to the dismissal of the revenue's appeal.
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