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2023 (6) TMI 871 - ITAT AMRITSARDeduction u/s 80P(2)(a)(i) - net interest earned from two Cooperative Banks - HELD THAT:- As considering of the case of Totagars Cooperative Sales Society Ltd. [2010 (2) TMI 3 - SUPREME COURT] which was relied by the ld. DR and find that the Hon’ble Apex Court has dilapidated on the issue of deduction u/s 80P(2)(a)(i) but not on section 80P(2)(d). We also observed that in the case of Totagars Cooperative Sales Society Ltd, [2017 (1) TMI 1100 - KARNATAKA HIGH COURT] itself the Hon’ble High Court of Karnataka has allowed the claim of deduction u/s 80P(2)(d). The investment of assessee in cooperative bank is eligible investment u/s 80P(2)(d) of the Act. The interest of the said investment related to Cooperative Society; the assessee is eligible for deduction u/s 80P(2)(a)(i) - Decided in favour of assessee.
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