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2022 (12) TMI 505 - AT - Income TaxDeduction u/s 80P(2)(a)(i) - interest income received from other Co-operative societies - HELD THAT:- As similar issue has been considered in Sant Motiram Maharaj Sahakari Pat Sanstha Ltd. [2020 (9) TMI 964 - ITAT PUNE] claim of the instant assessee is directly about the eligibility of deduction u/s.80P(2)(a)(i) of the Act and not u/s.80P(2)(d). Moreover, so many decisions relied on by the ld. AR amply go to prove that the view taken by the AO, cannot by any standard, be construed as not a possible view. We, therefore, hold that the ld. Pr. CIT was not justified in exercising the revisional power anent to interest income earned on investments made with co-operative banks. Thus overturn the impugned order to the extent of denial of deduction u/s 80P in respect of interest income. - Decided in favour of assessee.
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