2016 (12) TMI 1910

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....h Bansal along with Rakesh Kumar, learned Counsel for the assessee ORDER 1. Heard Sri Ashok Kumar, learned Counsel assisted by Sri Gaurav Mahajan, learned counsel for the appellant and Sri Ashish Bansal along with Rakesh Kumar, learned Counsel for the assessee. 2. This is an appeal filed by the department under Section 206-A of the Income Tax Department, 1961 against an order of the Tribu....

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....t in Income Tax Appeal No. 520 of 2008 (Commissioner of Income Tax v. Cooperative Cane Development Union Ltd.) relying on a decision of Hon'ble Apex Court in the case of Totgar's Cooperative Sale Society Ltd. v. Income Tax Officer : 2010) 322 ITR 283 (SC) wherein it was clearly spelt out by the Apex Court that the investment in securities is not a primary object of the cooperative credit s....