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2022 (5) TMI 1179 - AT - Income TaxDenial of deduction u/s 80P(2)(a)(i) in respect of interest income earned from the deposits held by the assessee - HELD THAT:- As relying on M/S. PRATHAMIKA KRUSHI PATTINA SAHAKARI NIYAMITA [2022 (1) TMI 153 - ITAT BANGALORE] we set aside the order passed by Ld CIT(A) on this issue and restore the same to the file of the AO with the direction to allow deduction u/s 80P(2)(a)(i) of the Act on the interest income earned from investments made with the banks in compliance with the requirements under the Karnataka Co-operative Societies Act and Rules. The assessee should be given adequate opportunity of being heard. Assessee appeal allowed for statistical purposes.
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