TMI Blog2018 (11) TMI 1589X X X X Extracts X X X X X X X X Extracts X X X X ..... (8) TMI 1085 - ITAT PUNE) preferred to go with the view taken in favour of the assessee by the Hon’ble Karnataka High Court in the case of Tumkur Merchants Souharda Credit Cooperative Ltd. [2015 (2) TMI 995 - KARNATAKA HIGH COURT]. In the absence of their being any change in the legal position prevailing on this issue after the passing of the order by the Pune Bench of the Tribunal in Shri Laxmi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also called as the Act ) in respect of interest earned by the assessee society from State Bank of India, which was denied by the Assessing Officer (AO). 3. Briefly stated, the facts of the case, are that the assessee is a co-operative society engaged in the business of providing credit facilities to its members. During the course of assessment proceedings, the AO observed that the assessee ear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder of the Pune Bench dated 19-08-2015 in the case of Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit Vs. ITO (ITA No.604/PN/2014) (to which one of us, namely, the ld. JM is party) in which similar deduction has been allowed. The Pune Bench of the Tribunal in the case of Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) has discussed the contrary views expressed by the Hon b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Tumkur Merchants Souharda Credit Cooperative Ltd. (supra). In the absence of their being any change in the legal position prevailing on this issue after the passing of the order by the Pune Bench of the Tribunal in Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit (supra) and host of other orders reiterating the similar view, respectfully following the precedent, we uphold the i ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
