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2023 (2) TMI 512 - ITAT SURATDeduction u/s 80P - interest income earned from various co-operative banks - HELD THAT:- We find that the grounds of appeal raised by assessee is squarely covered by the decision of Division Bench of this Tribunal in a series of decisions, including the decision in Bardoli Vibhag Gram Vikas Co.Op. Credit Society Ltd. [2016 (7) TMI 1217 - GUJARAT HIGH COURT] wherein the assessee-cooperative society is held eligible for deduction under section 80P(2)(d) in respect of gross interest received from co-operative bank without adjusting interest paid to said bank, we conclude that the order passed by assessing officer is not erroneous. Hence, the grounds of appeal raised by assessee are allowed - We direct the Assessing Officer to allow deduction u/s 80P(2)(d) - In the result, the grounds of appeal raised by the assessee are allowed.
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