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2016 (2) TMI 298 - AT - Income TaxDeduction u/s.80P(2)(a)(i) - Held that:- Issue in dispute is purely covered in favour of the assessee partly by the decision of Hon’ble Karnataka High Court in the case of Guttigedarara Credit Co-operative Society Ltd. vs. ITO [2015 (7) TMI 874 - KARNATAKA HIGH COURT] wherein it has been specifically held that interest income earned by the Credit Co-operative Society from deposits made with scheduled bank would also qualify for grant of deduction u/s.80P(2)(a)(i) of the Income Tax Act. Therefore, we allow the appeal of the assessee and direct the Assessing Officer to grant deduction u/s.80P(2)(a)(i) of the Income Tax Act and the interest income.
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