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2022 (6) TMI 795 - AT - Income TaxDeduction u/s 80P - disallowance of interest income of the assessee society out of its "investments with other co-operative banks is not eligible for deduction either uls 80P(2)(a)(i) or u/s 80P(2)(d) - CIT-A allowed the claim - HELD THAT:- We find in a recent decision of Pune Tribunal [2018 (11) TMI 1589 - ITAT PUNE] and [2019 (4) TMI 682 - ITAT PUNE] held that interest itself is eligible for deduction u/s.80P of the Act, the compulsion of the assessee to offer certain amount in order to enable the completion of the assessment, cannot be stretched so far so as to bring the entire amount of interest received from bank to tax which is otherwise deductible - we are of the considered view that there is no reason to interfere with the findings of the ld. CIT(A) and the relief provided to the assessee is sustained. - Decided against revenue.
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