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2022 (6) TMI 843 - ITAT AHMEDABADRevision u/s 263 - as per CIT assessment completed by the AO u/s 143(3) is erroneous allowing the similar claim of the assessee for deduction u/s 80P(2) in respect of interest income earned on the deposits with Mehsana Urban Co-operative Bank - HELD THAT:- The issue involved in the present case is thus squarely covered by the decision rendered by the Tribunal in the case of the People Co-op. Credit Society Ltd. [2022 (3) TMI 71 - ITAT AHMEDABAD] wherein a similar issue involving identical facts and circumstances has been decided by the Tribunal in favour of the assessee and even the learned DR has not been able to dispute this position. We, therefore, follow the said decision of the Coordinate Bench of this Tribunal and set aside the impugned order passed by the PCIT under Section 263 of the Act restoring that of the Assessing Officer passed under Section 143(3) of the Act. - Decided in favour of assessee.
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