2011 (3) TMI 1712

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....is is an appeal filed by the revenue 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....

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.... 80P(2)(a)(vi) of the Act. 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 Rs. 50,000/- u/s 80P(2)(c) of the Act and reduced deduction of Rs. 14,38,944/- u/s 80P(2)....