NUAGAON LARGE SIZED MULTIPURPOSE COOPERATIVE SOCIETY,SUNDARGARH vs. ITO, WARD 3, ROURKELA, ROURKELA

आदेश / O R D E R Per Bench : This is an appeal filed by the assessee against the order dated 9.12.23014 passed by ld CIT(A), NFAC in Appeal No.CIT(A), Cuttack/10187/2018-19 for the assessment year 2016-17. 2. Shri S.K.Agarwal, ld AR appeared for the assessee and Shri Vijaya Singh, ld Sr DR appeared for the revenue. 3. It was submitted by ld AR that in the course of assessment, the assessee was asked to clarify the deduction under Chapter -VI with documentary evidence. It was the submission that the assessee is entitled to deduction u/s. 80P. The Assessing Officer made an addition of Rs.69,32,094/-. It was the submission that interest income received by the assessee was Rs.69,32,094/-. The Assessing officer has also not mentioned how he has arrived at Rs.69,32,094/-. It was the submission that the accounts are audited and the assessee’s claim for deduction u/s. 80P was available before the AO. In the earlier years and subsequent years, the assessee has claimed deduction u/s. 80P and no scrutiny assessment was done. The claim of the assessee has been accepted without any disturbance. It was the submission that the assessee may be held to be liable for deduction u/s. 80P and addition made by the AO and confirmed by the ld CIT(A) be deleted.