23 Taxmann.com 312 (Delhi) 2. Punjab State Co-operative Milk Producers Federation Ltd. v. CIT & Another

The Ferozpur Cantt Primary Co-Op Agri Dev. Bank Limited, Ferozpur vs. Deputy Commissioner of Income Tax, Range (III), Ferozpur

In the result, appeal of the assessee ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

…e assessee viz., The Ferozepur Cantt., Primary Agricultural Coop., Development Bank Ltd (PLMB) in the limited scrutiny case as per notice received from CASS, by relying upon the Judgment of Punjab State Co-operative Milk Producer Federation Ltd.,V., CIT (2011)336 ITR 495 by whereas the assessee has already distinguished this judgment on last date of hearing before the AO and the same has also been incorporated in the decision of the AO of dated 20.12.2017. Grounds of appeal No.2 That the assessing officer cum DCIT, Bhatinda wanted to convert the case FULL scrutiny during the assessment proceedings then the Permi…

The Krishna District Milk Producers Mutually Aided Co-Operative Union Limited, Vijayawada vs. The Pr. Commissioner of Income Tax, Vijayawada

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

…capital funds in the Co- operative Bank as a short term measure. The Assessee also relied upon the following judgments:- 1. CIT Vs. Kribhco (2012) 23 Taxmann.com 312 (Delhi) 2. Punjab State Co-operative Milk Producers Federation Ltd. Vs. CIT & Another (2011) 336 ITR 495 (Punjab & Haryana High Court) 3. CIT Vs. Doaba Co-operative Sugar Mills Ltd. (1998) 230 ITR 774 (Punjab & Haryana) 4. ITO Vs. Punjab State Co-operative Milk Producers Federation (2010) 130 TTJ (Chd) (UO) 13.2 The ld. CIT(A) though considered the submissions of the Assessee, however sustained the disallowance of deduction claimed u/sec. 80P(2)(d)…

The Krishna District Milk Producers Mutually Aided Co-Operative Union Limited, Vijayawada vs. The Assistant Commissioner of Income Tax, Circle-1(1), Vijayawada

Bench: Shri N.K. Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon'Ble

…capital funds in the Co- operative Bank as a short term measure. The Assessee also relied upon the following judgments:- 1. CIT Vs. Kribhco (2012) 23 Taxmann.com 312 (Delhi) 2. Punjab State Co-operative Milk Producers Federation Ltd. Vs. CIT & Another (2011) 336 ITR 495 (Punjab & Haryana High Court) 3. CIT Vs. Doaba Co-operative Sugar Mills Ltd. (1998) 230 ITR 774 (Punjab & Haryana) 4. ITO Vs. Punjab State Co-operative Milk Producers Federation (2010) 130 TTJ (Chd) (UO) 13.2 The ld. CIT(A) though considered the submissions of the Assessee, however sustained the disallowance of deduction claimed u/sec. 80P(2)(d)…