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2018 (11) TMI 204 - AT - Income TaxDenial of claim of deduction u/s 80P(2)(a)(i) - interest income earned as “income from other sources” u/s 56 - Revenue contented that while deciding the assessee’s appeal for A.Y. 2008-09, the amendment made to the Section w.e.f. A.Y. 2007-08 has not been considered by the Tribunal - Held that:- Before us, no material has been placed by Revenue to demonstrate that Revenue has preferred appeal against the order of Tribunal for A.Y. 2008-09 and that the higher Judicial Forum has set aside / stayed the order for A.Y. 2008-09. Further, Revenue has neither pointed out any distinguishing feature in the facts of the present case and that of earlier year. Therefore, relying on the decision of the Tribunal in assessee’s own case for A.Y. 2008-09 and for similar reasons hold that assessee is entitled to deduction u/s 80P(2)(a)(i) of the Act on the interest income on fixed deposits kept with nationalized banks and private sector banks. - Decided in favour of assessee.
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