Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 715 - AT - Income TaxDeduction u/s 80P(2)(a)(i) - interest received by the assessee from Jaipur Central Cooperative Bank is not covered u/s 80P(2)(d) as the assessee has not produced any document to prove that Jaipur Central Cooperative Bank is a Cooperative Society - validity of Certificate issued by the Registrar of Cooperative Societies - HELD THAT:- Assessee has produced the Certificate issued by the Registrar of Cooperative Societies whereby Jaipur Central Cooperative Bank was registered as a Cooperative Society. As regards the objection of the ld. D/R regarding production of this Certificate at this stage as an additional evidence, it is to be noted that the Certificate produced by the assessee is not the assessee’s own document but it is a document otherwise available in public domain and issued by the Registrar of Cooperative Societies. Therefore, this fact cannot be disputed or the Certificate issued by the Registrar of Cooperative Societies cannot be doubted. Substance in the objection made by the ld. D/R against the production of the Certificate issued by the Registrar of Cooperative Societies. Once Jaipur Central Cooperative Bank is found to be a Cooperative Society, the interest received from the said Cooperative Bank/Society is eligible for deduction under section 80P(2)(d). As relying on SHREE KESHORAI PATAN SAHAKARI SUGAR MILL AND VICE-VERSA [2018 (2) TMI 499 - ITAT JAIPUR] held Jaipur Central Cooperative Bank is a Cooperative Society registered under Cooperative Societies Act, the interest received by the assessee from the said Cooperative Bank is eligible for deduction under section 80P(2)(d) of the Act. The disallowance/addition made by the AO and confirmed by the ld. CIT (A) is deleted.
|