Akola Zilla Parishad Prathamik Shikshak Sahkari Sanstha, Akola vs. Income Tax Officer, Ward-1, Akola
Appeal is allowed in above terms
ITA 190/NAG/2022[2017-18]Status: DisposedITAT Nagpur23 Dec 2022AY 2017-18
Bench: Shri S. S. Godaraआयकर अपील सं. / Ita No.190/Nag/2022 िनधा"रण वष" / Assessment Year: 2017-18 Akola Zilla Parishad Vs. Ito, Ward- 1, Akola. Prathamik Shikshak Sahkari Sanstha, 1, New Radhakisan Plot, Akola- 444001. Pan : Aaaaa1881E Appellant Respondent Assessee By : None Revenue By : Shri G. J. Ninawe Date Of Hearing : 02.11.2022 Date Of Pronouncement : 27.12.2022 आदेश / Order Per S. S. Godara, Jm: This Assessee’S Appeal For Assessment Year 2017-18 Arises Against The National Faceless Appeal Centre “Nfac”, Delhi’S Order Dated 20.05.2022 Passed In Case No. Itba/Nfac/S/250/2022- 23/1043092697(1), Involving Proceedings U/S 143(3) Of The Income Tax Act, 1961; In Short “The Act”. Case Called Twice. None Appears At Assessee’S Behest. It Is Accordingly Proceeded Ex-Parte. 2. It Emerges With The Able Assistance Coming From The Revenue’S Side That The Assessee’S Sole Substantive Grievance Herein Challenges Correctness Of Both The Learned Lower Authorities’ Action
For Appellant: NoneFor Respondent: Shri G. J. Ninawe
Section 143(3)Section 80P
…essee’s employees could hardly be treated as members having availed credit facilities in the regular course of his business. That being the case, I quote this tribunal’s coordinate bench decision in ITO vs. Vidarbha Premier Co-Operative Housing Society [2017] 184 TTJ 145 (Nagpur - Trib.) holding similar interest income as eligible for section 80P deduction being in the nature of business income only. The assessee succeeds in its sole substantive grievance. Necessary computation shall follow as per law. 3. This assessee’s appeal is allowed in above terms. Order pronounced on this 27th day of December, 2022. (S. S.…
