Case Law Details
M.P. State Cooperative Marketing Federation Ltd. Vs ACIT (ITAT Indore)
ITAT held that it was unable to verify certain facts relevant to the issue being agitated, viz. (i) whether and to what extent the buildings/godowns are being used for the activities eligible for 80P deduction or other activities as being claimed before us; and (ii) the treatment given by assessee and accepted by revenue-authorities in the preceding and subsequent assessment-years on this issue. Hence, we think it appropriate to remand this issue back to the file of Ld. AO who shallfirst4 verify these aspectsand thereafter take a call on the issue in the light of legal provisions of Income-tax Act, 1961 and the judicial rulings, if any, thereon. That would enable to resolve the assessee’s grievance aptly. Needless to mention that the Ld. AO shall give adequate opportunities to the assessee to explain his case.
FULL TEXT OF THE ORDER OF ITAT INDORE
Feeling aggrieved by appeal-order dated 27.11.2018passed by learned Commissioner of Income-Tax (Appeals)-3, Bhopal[“Ld. CIT(A)”], which in turn arises out of assessment-order dated 10.03.2016 passed by learned ACIT-2(1), Bhopal[“Ld. AO”] u/s 143(3) of Income-tax Act, 1961 [“the Act”]for Assessment-Year[“AY”] 2013-14, the assessee filed this appeal on following two grounds:
“1. That the Ld. CIT(A) erred in maintaining disallowance of deduction of 80P of Rs.5,02,23,957/- in respect of storage income derived from CAP storage.
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