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2018 (11) TMI 436 - AT - Income TaxEligibility for deduction u/s 80P(2)(a)(i) - interest earned on fixed deposits placed with banks - Held that:- Identical issue arose in the case of Chandraprabhu Gramin Bigar Sheti Sahkari Patsantha Maryadit [2016 (7) TMI 1485 - ITAT PUNE] wherein after considering the decisions of Hon’ble Apex Court in the case of Totgars Co-operative Sale Society Ltd.[2010 (2) TMI 3 - SUPREME COURT] and the decision of Hon’ble Delhi High Court in the case of Mantola Co-operative Thrift & Credit Society Ltd., [2014 (9) TMI 833 - DELHI HIGH COURT] and other decisions has decided the issue in favour of the assessee as hold that assessee is entitled to deduction u/s 80P(2)(a)(i) of the Act on the interest income on fixed deposits kept with nationalized banks and private sector banks. Thus, the ground of the assessee is allowed.
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