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2023 (4) TMI 1109 - ITAT SURATDisallowance of deduction u/s 80(P)(2)(d) - interest and dividend income earned from other cooperative societies - HELD THAT:- This component of income is allowable for deduction u/s 80P(2)(d) of the Act and this issue is covered by a series of decisions of Division Bench of this Tribunal as well as by the decision of Hon'ble Jurisdictional High Court. AO is directed to verify the interest and dividend income if earned from cooperative society, the assessee be allowed full relief to the assessee. Deduction u/s 80(P)(2)(a)(iv) - Complete bifurcation is not discernable from the various documents filed by the ld. AR of the assessee, though, the assessee in its computation of income has mentioned the figure, therefore, this issue is also restored back to the file of AO to verify the fact and pass the order in accordance with law. Assessee is also directed to furnish complete details of such deduction with its bifurcations. AO shall grant reasonable and fair opportunity of hearing to the assessee. The assessee is also directed to provide complete details and evidences on this issue to the Assessing officer. The grounds raised by the assessee in this appeal is allowed for statistical purposes.
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