COMMISSIONER OF INCOME TAX AND THE INCOME TAX OFFICER Vs. THE RYOTS AGRICULTURAL PRODUCE CO-OP. MARKETING SOCIETY LTD.

JUDGEMENT

(1.) THIS appeal is by the revenue challenging the legality and correctness of the order passed by the Income Tax Appellate Tribunal, Bangalore Bench in ITA No. 208/Bang/2002 dated 30.6.2004.

(2.) THE appeal is admitted on the following substantial question of law: Whether the tribunal was correct in holding that the prima -facie adjustment made by the Assessing Officer under Section 143(1)(a) read with Section 154 of the Act by holding that lorry hire charges based on the return of income and accounts produced along with the returns cannot be treated as income exempt from tax as falling under Section 80 petitioner (2) (a)(iv) of the Act i.e., income from agriculture implements, seeds, livestock or other articles cannot be done as it involves a debatable issue?

(3.) WE have heard the counsel for the parties.