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2023 (4) TMI 184 - ITAT COCHINDeduction u/s 80P - interest earned by the appellant from investment in District Co-operative Bank - Income from other sources or income from business income - HELD THAT:- As decided in own case [2022 (10) TMI 1161 - ITAT COCHIN] as held lower authorities have no benefit of judgement of Hon’ble Apex Court in the case of The Mavilayi Service Cooperative Bank Ltd. & Ors. vs. CIT [2021 (1) TMI 488 - SUPREME COURT] we are of the view that in the interest of justice and equity the issue of deduction u/s 80P(2)(a)(i) of the Act needs to be examined de novo in the light of the judgement of the Hon’ble Apex Court, referred supra. Therefore, the issue raised on merits is restored to the files of the AO - we remit the issue back to the AO with similar directions. Decided against revenue.
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