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2018 (11) TMI 1576 - AT - Income TaxDenial of deduction u/s.80P - interest on FDRs with Nationalised Banks/Private Sector/Scheduled Banks - Held that:- As for the immediately preceding assessment year 2012-13 in assessee's own case allowed deduction on interest income earned from investments in Fixed Deposits. A copy of the order has been placed on record. Such decision has been taken after considering the judgment in the case of Totgar’s Cooperative Sale Society Ltd. VS. ITO (2010 (2) TMI 3 - SUPREME COURT ). The ld. Departmental Representative fairly admitted that the facts and circumstances of the instant appeal are mutatis mutandis similar to those of preceding year. Thus overturn the impugned order on this score and order to grant deduction u/s.80P on such interest income. - Decided in favour of assessee
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