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2022 (7) TMI 33 - AT - Income TaxDisallowance u/s 36(1)(viii) - Amount transferred to Special Reserve - AO was of the view that the claim made by the assessee was not in accordance with the provision of the Act - HELD THAT:- We find that for working out the income from eligible business on which deduction u/s 36(1)(viii) of the Act is allowable, assessee had considered the ratio of interest income from Long Term housing loan to total interest income as against the working of AO being the ratio of interest income from Long Term housing loan to total receipts. We find that identical issue arose before the Tribunal in assessee’s case for A.Y. 2015-16 decided issue in favour of assessee as held that methodology adopted by the assessee is consistently followed for last eight years. Same was accepted by the revenue without any objection - When the method has been consistently accepted for the above year we do not find any reason to defer from that. In view of this we do not find any infirmity in allowing the assessee claim of deduction u/s 36(1 )(viii) of the Act applying the ratio of 62.75%. - Decided in favour of assessee.
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