Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1524 - AT - Income TaxBenefit of Section 80P(2) on the interest earned on the deposits made by it to other cooperative banks and societies - business income or income from other sources - HELD THAT:- Reasoning given by the Hon’ble jurisdictional High Court in the matter of Tumkur Merchants [2015 (2) TMI 995 - KARNATAKA HIGH COURT] are clearly applicable to the facts and circumstances of the case. In our view therefore the assessee is entitled to deduction u/s.80P(2)(a)(i) r.w.s. 80P(2)(d) of the Act. In view of the above, appeal of the assessee is allowed.
|