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2021 (8) TMI 505 - AT - Income TaxDeduction u/s.80P(2)(a)(i) - interest income earned on fixed deposits - HELD THAT:- As relying on THE PUTTUR PRIMARY CO-OP AGRICULTURE AND RURAL DEVELOPMENT BANK LTD. [2021 (6) TMI 460 - ITAT BANGALORE] we restore the issue to the AO to examine the claim of the assessee afresh as directed by the Tribunal in the aforesaid order. We also notice that the assessee has raised a specific plea that the investments which yielded interest income were all investments that are statutorily required to be maintained under the Karnataka Co-operative Societies Act and therefore interest income has to be regarded as business income. The AO can examine this aspect also in the set aside proceedings. Appeal of the assessee is treated as allowed for statistical purposes.
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