TMI Blog2010 (7) TMI 1017X X X X Extracts X X X X X X X X Extracts X X X X ..... reen ink by the department has been replaced by a fresh xerox certified copy. The department concerned must be careful in future while accepting the memorandum of appeal as it was found in this case that the earlier xerox certified copy was not a virgin one. However, the name of the officer who has supplied the earlier xerox certified copy has not been divulged before this Court. In any view of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Learned Tribunal. It appears that the point involved is whether interest earned out of the investment earned by the assessee cooperative can be treated to be the income arising out of business activity or from other sources in order to apply the provision of Section 80P(2)(a)(i) of the I.T. Act. It is an undisputed factual position that similar issue arose before the Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as also has held that income from investment in banks and other financial institutions is the business income of the assessee society and it is eligible to get deduction under Section 80P(2)(a)(i). The Tribunal has overruled the decisions rendered against the assessee in relation to assessment years 1995-96 and 1996-97 on the same issue in relation to subsequent years. It was found by the Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4 have been challenged by any of the parties before this Court. It is submitted by Mr. Bhowmick that there has been challenge of the decision in relation to assessment years 1995- 96, 1996-97 and the same is pending before this Court we think that challenge of the assessee has now become redundant as the earlier view taken in both the assessment years have been reversed by the Tribunal by its ..... X X X X Extracts X X X X X X X X Extracts X X X X
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