2016 (4) TMI 1095

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....or the Respondent : Shri Neena Jeph (JCIT) ORDER Per Shri Vikram Singh Yadav, A. M. These two appeals are filed by the assessee against the order of Ld. CIT(A) Ajmer dated 31.10.2014 and 26.03.2015 for A.Y. 2008-09 and 2009-10 respectively wherein the assessee has taken the following common ground of appeal. "The ld. CIT(A) has erred in law as well as on facts of the case by disa....

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....o. Amount No. Amount No. Amount 1 Minor Irrigation 135.00 162 119.03 33 20.91 195 139.94 103.65 2. Farm Mech 325.00 65 306.27 8 37.17 73 343.44 105.67 3. Diversified 370.00 522 310.61 117 68.94 639 379.55 102.58 4. Non.agr 70.00 29  50.40 7 12,86 36 63.26 90,37 5. Rural Housing 50.00 0 34.91 3 .36 23 ....

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.... 964.57  - - 993 964.57 98.42   Percentage of agriculture loans (Minor Irrigation, Farm Mech and Diversified (which consist of rearing of the cattle's namely cows, buffaloes, goats and sheep and agriculture land development) comes to 89.10% for A.Y. 2008-09 and 86.41% for A.Y. 2009-10. It is humbly submitted that the ratio laid down by the Hon'ble ITAT Jaipur Benches, in....

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....section 80P of the Act. Therefore, we hold that Revenue was wrong in contending that the giving loan for livestock only i.e. com, buffalo, goat and sheet is not agricultural activities and therefore the assessee is entitled to deduction under the above said provision. In the result thereof we hereby allow the appeal with the direction to the AO to give all the benefits to the assessee und....