2018 (9) TMI 1187

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....Shri George George K, JM For the Appellant : Sri.H.S.Bhatt For the Respondent : Sri. A.Dhanaraj, Sr.DR ORDER Per Bench These appeals at the instance of the assessee are directed against the consolidated order of the CIT(A) dated 15.07.2017. The relevant assessment years are 2007-2008, 2007-2008, 2011-2012, 2012-2013 and 2013-2014. Since common issues are raised in these cross appeal....

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.... u/s 80P(2) of the I.T.Act was that the assessee was primarily engaged in the business of banking and by virtue insertion of section 80P(4) of the I.T.Act with effect from 01.04.2007, the assessee was not entitled to deduction claimed u/s 80P(2) of the I.T.Act. 4. Aggrieved by the assessments completed for the concerned assessment years, the assessee had preferred appeals to the first appellate....

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....hat income received by the assessee-society from CAMPCO was for marketing of agricultural produce of its members. Therefore, it was submitted that such income was entitled to deduction u/s 80P(2)(a)(iii) and (iv) of the I.T.Act. The learned DR present was heard. 6. We have heard the rival submissions and perused the material on record. The Assessing Officer has disallowed the entire claim of de....

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....r fresh consideration. The assessee shall prove with necessary evidence that the trade income it had earned and the income it had received from CAMPCO was entitled to deduction u/s 80P(2) of the I.T.Act. 6.1 As regards the insurance commission assessee had received concerning the assessment years 2011-2012 and 2012-2013, there was no discussion by the A.O. nor the CIT(A) for disallowing the cla....