TaxTMI 
TaxTMI 
2018 (9) TMI 1187
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.... 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 appeals, they were heard together and are being ....
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.... 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 authority. The CIT(A) following the judgment of t....
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....O 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 deduction. There was no specific reasoning given by the as....
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....essary 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 claim of deduction u/s 80P(2). It is the case of the assessee....