2025 (8) TMI 1092

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....r For The Appellant : Shri P.F. Jain, A.R. For The Respondent : Shri V K Mangla, Sr. DR ORDER PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER: This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short "Ld. CIT(A)"), ADDL/JCIT(A)-8, Mumbai vide order dated 07.10.2024 passed for A.Y. 2017-18. 2. The assessee has taken t....

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....cting milk from its members and supplying the same to the member union Uttam Dairy. Further, besides earning income from sale of milk to Member Union, the assessee also earned interest income, dividend income etc. The assessee, during the course of assessment gave details of exemption claimed with respect to income referred to above and also claimed deduction of Rs. 50,000/- u/s 80P(c) of the Act.....

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....ly of milk, on which assessee has claimed deduction of Rs. 50,000/- u/s 80P(2)(c) of the Act. A reading of section 80P(2)(c) of the Act states that when the society is engaged in "activities" other than those specified in clause (b), so much of its profits and gains as are attributable to such activities, as does not exceed Rs. 50,000/- is eligible for deduction u/s 80P(c) of the Act. In the insta....