2023 (2) TMI 205

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....ishra, CIT-DR ORDER PER B.M. BIYANI, A.M.: 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 appea....

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....are required to adjudicate Ground No. 2 which reads as under: "2. That the Ld. CIT(A) erred in maintaining disallowance of claim of deduction u/s 80P of Rs.1,18,52,613/- on account depreciation (Protective)." 4. Heard the learned Representatives of both sides and case-records perused. 5. Ld. AR submits that the assessee is an APEX body of marketing societies, registered under M.P. S....

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....ective-disallowance from Rs. 1,60,23,529/- to Rs.1,18,52,613/-. This way, according to Ld. AR, presently the protective disallowance of Rs. 1,18,52,613/- out of deduction u/s 80P is sustained, which has the effect of reducing the assessee's deduction u/s 80P by Rs. 1,18,52,613/-. Ld. AR submits that the impugned disallowance of Rs. 1,18,52,613/- which is sought to reduce the deduction u/s 80P, is ....

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....-relatable to "Buildings and Godown block" or by even a part of it. Hence, there is no merit in sustaining protective disallowance of Rs. 1,18,52,613/-; the same deserves to be deleted. 6. Ld. DR supported the orders of lower authorities and prayed to uphold the disallowance. 7. We have considered the rival contentions and submissions of both sides. After a careful consideration, we are unab....