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2014 (5) TMI 274 - ITAT DELHIDeduction u/s 80-O of the Act with respect to interest income - Withdrawal of deduction u/s 80-O in full – Held that:- Following of the order of the Tribunal in the case of the same assessee for the earlier assessment year - the receipt of interest is not the income falling u/s 80-O, it was on fixed deposits - the assessee would not be entitled to deduction – for withdrawal of deduction u/s 80-O, it has been held that it is a case of reassessment u/s 148 and the issue as to the allowability of the deduction u/s 80-O was not in dispute or subject matter of reopening - the CIT(Appeals) cannot exercise the power of enhancement that too without giving notice of enhancement, which has apparently not been given in this case - the AO has not rightly construed the order of the ITAT because as per ITAT, the assessee was entitled to deduction u/s 80-O but not on interest income – there was no justification to interfere with the order of CIT(A) – Decided against Revenue.
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