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T.VENKATAPPA, B.V.VENKATARAMAIAH
BELGAUM GARDENERS CO-OP. PRODUCTION SUPPLY & SALE SOCIETY LTD. – Appellant
Versus
FIFTH INCOME-TAX OFFICER – Respondent
Per Shri T. Venkatappa, Judicial Member - The assessee is a co-operative society engaged in the marketing of the garden produce of its members. It derives income from letting of a cold storage plant also. The assessee urged that the income from cold storage was exempt under section 80P of the Income-tax Act, 1961 ('the Act') as it is a warehouse for storing goods. The ITO did not accept this contention. He held that exemption under section 80P is allowable in respect of income derived by the society from letting of godowns or warehouse and not cold storage plant. Thus, he brought to tax the income from the cold storage plant. He also treated 20 per cent of the commission as receipts from nonmembers and taxed it. The assessee appealed to the AAC. He agreed with the ITO in disallowing the claim for exemption under section 80P and taxing the income from cold storage. He directed that receipts from nonmembers should not be estimated at more than 10 per cent. Against the said order, the assessee has preferred these appeals.
2. The learned counsel for the assessee submitted that the cold storage plant is only a warehouse where vegetables are stored. The cold storage does not ease to
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