2011 (7) TMI 1341 - AT - Income Tax

Summary

Issues involved: The judgment involves the interpretation of deduction u/s 80P(2) for income from sale of crackers and PDS activities, and the classification of the appellant cooperative society as a "Consumers' Co-operative Society" u/s 80P(2)(a)(i).

The appellant's appeal was dismissed by the ITAT Chennai as the issues raised were previously decided against the assessee in a similar case for the assessment year 2005-06. The counsel for the assessee acknowledged this and submitted that the appeal can be dismissed based on the earlier decision, which was not objected to by the ld. DR.

After hearing both sides and reviewing the evidence, the ITAT Chennai found that the issues raised in the current appeal were already addressed in a previous decision for the assessment year 2005-06, where they were decided against the assessee. Consequently, the ITAT Chennai upheld the order of the ld. CIT(A) and dismissed the appeal of the assessee.

In conclusion, the appeal of the assessee was dismissed by the ITAT Chennai, following the precedent set in the earlier decision for the assessment year 2005-06.