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TMI Blog2022 (12) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... YAL, VP : This appeal by the assessee is directed against the order passed by National Faceless Appeal Centre (NFAC), Delhi on 26.10.2022 in relation to assessment year 2017-18. 2. The only issue raised in this appeal is against denial of deduction u/s 80P(2)(a)(i) of the Income-tax Act, 1961 (hereinafter referred to as "the Act‟) in respect of interest income received from investments/FDR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claimed u/s 80P(2)(a)(i) and the same ought to have been allowed. I find that similar issue has been considered by the Pune Tribunal in Sant Motiram Maharaj Sahakari Pat Sanstha Ltd. vs. ITO (2020) 120 taxmann.com 10 (Pune-Trib). Para 10 is relevant for the purpose, which reads as under: "10. Insofar as the reliance of the ld. DR on the case of Pr. CIT and Another Vs. Totagars Cooperative Sales ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ideration in view of the position that the claim of the instant assessee is directly about the eligibility of deduction u/s.80P(2)(a)(i) of the Act and not u/s.80P(2)(d). Moreover, so many decisions relied on by the ld. AR amply go to prove that the view taken by the AO, cannot by any standard, be construed as not a possible view. We, therefore, hold that the ld. Pr. CIT was not justified in exerc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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