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2021 (6) TMI 460 - ITAT BANGALOREDeduction u/s 80P - interest income earned on fixed deposits - HELD THAT:- We notice that an identical issue has been considered by the co-ordinate bench in the case of Karkala Co-op S Bank Ltd [2021 (2) TMI 854 - ITAT BANGALORE] wherein an identical issue has been restored to the file of AO for examining it afresh. Since the facts are identical, following the decision rendered by the co-ordinate bench, we restore this issue to the file of the AO with similar directions. In the instant case, the assessee has earned both interest income and dividend income. The assessee is entitled for deduction of proportionate cost, administrative and other expenses. Accordingly, we set aside the order passed by Ld CIT(A) on this issue and restore the same to the file of the AO with similar directions. Appeal of assessee is treated as allowed for statistical purposes.
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