ACIT, CIRCLE - 2,, GORAKHPUR vs. M/S SEORAHI COOPARETIVE CANE DEVELOPMENT UNION LTD.,, SEORAHI
In the result, appeal filed by Revenue in ITA No
ITA 144/VNS/2019[2013-2014]Status: DisposedITAT Varanasi09 Jun 2022AY 2013-2014
Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 The Asst. Commissioner Of M/S. Seorahi Cooperative Cane Income Tax, V. Development Union Ltd. Circle-2, Seorahi, Gorakhpur, U.P. Kushinagar, U.P. Pan:Aabas8968D (Appellant) (Respondent)
For Appellant: None, written submissions filed by the assesseeFor Respondent: Shri Ramendra Kumar Vishwakarma, CIT DR
Section 142(1)Section 143(2)Section 143(3)Section 143(3)(ii)Section 80P(2)(a)
207 ITR 608,612 (Raj.)
100% deduction could be availed only where the income was derived from the specific activities. The activity which was not so specified could not enjoy the full exemption. Deduction under Section 80P is allowable on the net profit of activity carried out by the society and further setting off of losses of the earlier year
