TMI Blog2023 (4) TMI 1109X X X X Extracts X X X X X X X X Extracts X X X X ..... he ld. AR of the assessee, though, the assessee in its computation of income has mentioned the figure, therefore, this issue is also restored back to the file of AO to verify the fact and pass the order in accordance with law. Assessee is also directed to furnish complete details of such deduction with its bifurcations. AO shall grant reasonable and fair opportunity of hearing to the assessee. The assessee is also directed to provide complete details and evidences on this issue to the Assessing officer. The grounds raised by the assessee in this appeal is allowed for statistical purposes. - ITA No. 433/Srt/2022 - - - Dated:- 25-4-2023 - Shri Pawan Singh, Judicial Member For the Assessee : Ms. Dharti Jariwala, CA For the Depart ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t allowed by the CPC vide their intimation dated 17/08/2020. In the rectification, the assessee claimed deduction of Rs. 7,18,939/- under Section 80(P)(2)(a)(iv) and deduction of Rs. 96,371/- under Section 80(P)(2)(d) of the Act. The CPC while rejecting the application of assessee, initiated that the assessee has not correctly filled Schedule part A-P L/BP/PARTBT1/ CYLA/DEP/DPM/ DOA/ Nature of Business/ PART-AO1/ Sch. OS/SI/ BFLA. 3. Aggrieved by the order of CPC, on rejecting the application under section 154, the assessee filed appeal before the ld. CIT(A). Before the ld. CIT(A), the assessee filed its statement of fact and contended that they are eligible for deduction under Section 80P of the Act. The ld. CIT(A) after considering the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the claim of assessee. 6. I have considered the submissions of both the parties and perused the orders of the lower authorities carefully. I find that in the computation of income the assessee has claimed interest and dividend income of Rs. 96,371/- earned from other cooperative societies. This component of income is allowable for deduction under section 80P(2)(d) of the Act and this issue is covered by a series of decisions of Division Bench of this Tribunal as well as by the decision of Hon'ble Jurisdictional High Court. Therefore, the Assessing Officer is directed to verify the interest and dividend income if earned from cooperative society, the assessee be allowed full relief to the assessee. 7. So far as remaining disallowa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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