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2020 (10) TMI 1193 - AT - Income TaxDeduction u/s 80P(2)(a)(i) - interest income earned - assessee company was a Credit Co-operative society - Assessee not eligible for deduction in respect of the interest income earned by the appellant on the deposits kept with Bombay Mercantile Co-operative Bank Ltd and Maharashtra State Co-operative Bank Ltd. - HELD THAT:- As relying on Jawala Cooperative Urban Thrift & Credit Society Ltd. [2014 (12) TMI 1227 - ITAT DELHI] and Tumkur Merchants Souharda Credit Co-operative Ltd [2015 (2) TMI 995 - KARNATAKA HIGH COURT] assessee is entitled for the deduction u/s 80P(2)(d) in respect of the interest income earned by the appellant on the deposits kept with Bombay Mercantile Co-operative Bank Ltd and Maharashtra State Co-operative Bank Ltd. Accordingly, we set aside the finding of the CIT(A) on this issue and allowed the claim of the assessee. - Decided in favour of assessee.
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