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2022 (1) TMI 928 - ITAT MUMBAIDisallowance of deduction u/s 80P(2)(d) - co-operative housing society situated in Mumbai - Amount received on account of interest from Co-operative Bank - HELD THAT:- As reading of section 80P nowhere provides that co-operative housing society situated in Mumbai does not satisfy the clause of section 80P. In this regard, query was raised by the Bench to the Ld. DR as to how where section 80P shows that Co-operative Housing Society situated in Mumbai does not satisfy the clauses of section 80P, he could not make any cogent answer and relied upon the Ld.CIT(A) order. Hence, we hold that denial of deduction u/s. 80P for sole reason of its being situated in Mumbai is not legally sustainable. Hence, the order passed by the Ld.CIT(A) is set aside and this appeal by the assessee stands allowed.
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