TMI Blog2011 (3) TMI 1712X X X X Extracts X X X X X X X X Extracts X X X X ..... (A)-I Nasik dated 10-12-2010 for A.Y. 2007-08. The only ground raised by the revenue in this appeal reads as under: On the facts and in the circumstances of the case, the learned CIT(A) is not justified in holding that the assessee is entitled to deduction u/s 80P(2)(a)(vi) when in fact it is a Dist. Federation of Labour Co-op. Societies and the income earned by the Federation cannot be said t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owed the entire deduction u/s 80P(2)(a)(vi) of the Act and recomputed the deduction u/s 80P(2)(d) of the Act in respect of bank interest by apportioning certain expenses against such income. The Assessing Officer therefore, allowed only basic deduction of ₹ 50,000/- u/s 80P(2)(c) of the Act and reduced deduction of ₹ 14,38,944/- u/s 80P(2)(d) of the Act in respect of bank interest. Thu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowing the claim of assessee. Nothing contrary was sbrought to our knowledge on behalf of revenue. We are therefore, of the opinion that the CIT(A) was justified in directing the Assessing Officer to allow the claim of the assessee. This view is fortified by the judgment of Hon ble Supreme Court in the case of Kerala State Co-operative Marketing Federation Ltd Others Vs. CIT (231 ITR 841 (SC). ..... X X X X Extracts X X X X X X X X Extracts X X X X
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