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Court Upholds Penalty u/s 271(1)(c) for Denied Deduction u/s 80P(2)(a)(i) Due to Interest Discrepancy.

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....Penalty levied u/s 271(1)(c) - eligible for deduction u/s 80P(2)(a)(i) denied - interest paid to the cooperative society exceeds the interest received from the bank on investments - Revenue is not required to look to the nature of the investment whether it was from its surplus funds or otherwise - HC....

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