9911796707
TMI Blog2015 (4) TMI 141X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Appellant : J. N. Shukla, Advocate For the Respondent : Shri. Alok Mitra, D.R. ORDER Per: Sunil Kumar Yadav: This appeal is preferred by the assessee against the order of the ld. CIT(A), inter alia, on various grounds, which are as under:- 1. That the commissioner of income Tax (Appeal)-I Lucknow committed manifest error of law in rejecting the first appeal of the appellant without appreciating facts and circumstances of the case of the appellant. 2. That the appellant is a Cane Development Council Govern by U.P. Cane Development Department established by the order of the cane commissioner Uttar Pradesh it works under the guide lines laid down by the cane commissioner. The assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d injury. 6. That the order of CIT (appeal )-I Lucknow dated 04.04.2011 was served on the appellant on 17.06.2012 and as such the present appeal is well within time. 2. Though various grounds are raised, but they all relate to the denial of deduction under section 80P(2)(a)(iii) of the Income-tax Act, 1961 (hereinafter called in short the Act ) by the Assessing Officer as well as the ld. CIT(A) on the ground that the assessee is not registered under the Cooperative Society s Registration Act and is therefore not a Co-operative Society which alone is eligible for deduction under section 80P(2)(a)(iii) of the Act and secondly because the assessee was not engaged in the marketing of agriculture produce grown by its members ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom sugar mill amounting ₹ 18,42,269/- not treated as exempt. Further, assessee has shown income from interest amounting to ₹ 2,24,560.29. This income is also not exempt u/s 80P. 4. Aggrieved, the assessee preferred an appeal before the ld. CIT(A), but did not find favour with him and the disallowance of deduction was confirmed by the ld. CIT(A). 5. Now the assessee is before us with the submission that the assessee Council is a body established by the order of the Cane Commissioner, Uttar Pradesh. It works under the guidelines laid down by the Cane Commissioner, Uttar Pradesh. It helps Ganna Grover (Kissan) in the production and development of sugarcane and to give advice to mill owners as well as the Government regardin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessees were Co-operative Societies and were also engaged in the agricultural credit activities with its members. Therefore, the facts in those cases are not similar to the facts involved in the instant case and no assistance can be drawn from those cases in favour of the assessee. 8. Having given a thoughtful consideration to the rival submissions and from a careful perusal of the orders of the authorities below, we find that deduction under section 80P(2)(a)(iii) of the Act was denied by the Assessing Officer as well as the ld. CIT(A) solely for the reason that the assessee was not registered under the Co-operative Society s Registration Act. Besides, the assessee is also not engaged in the marketing of agricultural produce grown by i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to the provisions of this section, the sums specified in sub-section (2), in computing the total income of the assessee. (2) The sums referred to in sub-section (1) shall be the following, namely:-- (a) in the case of a co-operative society engaged in-- (i) carrying on the business of banking or providing credit facilities to its members, or (ii) a cottage industry, or (iii) the marketing of agricultural produce grown by its members, or (iv) the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members, or (v) the processing, without the aid of power, of the ag ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
