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2016 (5) TMI 1486 - ITAT PUNEDisallowance of claim of deduction under section 80P(2)(a)(i) on interest income received from the banks - assessee was a co-operative society engaged in providing credit facilities to its members - Held that:- For the year under consideration, the assessee had received interest income on the deposits with the banks other than co-operative societies or co-operative banks, which admittedly was received on the surplus available with the assessee, which was deposited in the said banks. As relying on ITO Vs. M/s. Kundalika Nagari Sahakari Patsanstha Maryadit & Another [2016 (2) TMI 879 - ITAT PUNE] The assessee is entitled to claim the aforesaid deduction. However, no such deduction is available on the interest arising on MSEB deposits - decided partly in favour of assessee.
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