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2022 (11) TMI 421 - AT - Income TaxDenying deduction u/s 80P[2][a][i] - interest income earned from fixed deposits kept by it with nationalized banks and taxing the said income u/s 56 - HELD THAT:- The issue before us is identical to the issue decided by ITAT Pune Bench in assessee’s own case [2019 (1) TMI 1994 - ITAT PUNE] for A.Y. 2008-09 i.e. interest income earned on fixed deposits kept with Nationalized Banks. Therefore, respectfully following the decision of ITAT Pune Bench in assessee’s own case for Assessment Year 2008-09(supra), it is held that assessee is eligible for deduction under section 80P(2)(a)(i) in the interest earned from Nationalized Bank. Accordingly, appeal of the assessee is allowed.
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