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2017 (10) TMI 923 - AT - Income TaxDeduction u/s.80P(2)(a)(i) - whether the appellant is entitled to claim deduction under section 80P(2)(a)(i) in respect of the interest earned on the deposits placed with Bank? - Held that:- Considering the binding decisions of the Hon’ble High Court in the case of SBI [2016 (7) TMI 516 - GUJARAT HIGH COURT]interest income earned on surplus fund as dealt by the CIT(A) (supra) is hereby upheld to be taxed under the head income from other sources. However, we find that the Hon’ble High Court is silent on the issue of allowability of proportionate expenses from the interest income, therefore, we direct the AO to consider the same afresh.
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