MODI INDUSTRIES LIMITED, MODINAGAR vs. COMMISSIONER OF INCOME-TAX, DELHI

The appeals are allowed in the above

80P of the Act, its income was not liable to tax. The Income Tax officer rejected the contention. On Appeal, the Appellate Assistant Commissioner upheld the assessee’s contention, in pursuance of which, a revised assessment order was made by the Income Tax Officer substantially reducing the amount of tax. The assessee claimed interest on the excess amount

UDAIPUR SAHKARI UPBOKTA THOK BHANDER LD. vs. COMMR.OF INCOME TAX

disallowed the claim on the ground that the appellant-society is a wholesaler of foodgrains and it is not a mere stockist as claimed and consequently it was not entitled to deduction under Section 80P(2)(e) of the 1961 Act. This order was applied for assessment years in question. Aggrieved by the assessment order(s), appellant filed appeals before