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2015 (12) TMI 287 - AT - Income TaxEligibility for deduction u/s 80P(2)(a)(i) - interest income earned on the deposits kept with banks - whether is liable to be assessed as income from other sources? - Held that:- Consistent with the view taken in the case of M/s Jaoli Taluka ahakari Patpedhi Maryadit (2015 (9) TMI 170 - ITAT MUMBAI ) hold that the interest income is assessable as profit and gains of business in the hands of the assessee and accordingly, it is liable for deduction u/s 80P(2)(a)(i) of the Act. Accordingly, set aside the order of the ld. CIT(A) on this issue and direct the AO to allow deduction u/s 80P - Decided in favour of assessee
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