2011 (3) TMI 1712

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....enue against the order of the CIT(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....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... The Assessing Officer disallowed 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....