2006 (5) TMI 309

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....order for the sake of convenience. 2. In both the years, the revenue has raised various grounds but the only grievance of the revenue in both the years is that the assessee is not entitled to deduction under section 80P(2)(a)( vi). 3. Briefly stated, the facts are that the assessee is a labour co-operative society which is registered under Maharashtra Co-op. Societies Act. In both these years, the assessee filed returns of income showing Nil income after claiming deduction under section 80P(2)(a)( vi). The assessee has also filed copies of trial balance, profit and loss account and audit report as required under the Maharashtra Co-op. Societies Act in both years along with return of income. However, the Assessing Officer rejected the ....

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....not find any books of account or other records. It was stated by the chairman of the society that the books of account and other records were lost while coming from Mumbai to Ulhasnagar and a complaint is stated to have been filed with Kalyan Railway Police Station on 23-11-1996. It is also submitted that various opportunities were given to the assessee to produce books prior to so called loss of books on 23-11-1996 and hence the Assessing Officer is correct in holding that no books was maintained and he has rightly rejected the claim of the assessee for deduction under section 80P. It was urged by him that the order of learned CIT(A) should be reversed in both years and that of Assessing Officer should be restored. Reliance was placed on t....

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....Majur Kamgar Sahakari Society Limited (supra), the issue has been decided by learned CIT(A) in favour of the assessee by holding that deduction under section 80P(2)(a)(vi ) cannot be denied only on account of non-maintenance/non-production of accounts as per Para No. 18 of the order of learned CIT(A) as reproduced on page 5 of the Tribunal order and this order of learned CIT(A) has been upheld by the Tribunal. In the present case also, the only reason given by the Assessing Officer to deny deduction under section 80P(2)(a)( vi) is non-maintenance/non-production of accounts and hence in our considered opinion, this issue stands covered in favour of the assessee by this Tribunal order. Since the deduction under section 80P(2)(a)(vi ) is grant....