AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
2019 (2) TMI 1435
X X X X Extracts X X X X
X X X X Extracts X X X X
....P : This appeal by the assessee arises out of the order passed by the CIT(A)-7, Pune on 09-01-2018 in relation to the assessment year 2015-16. 2. The only issue raised in this appeal is against not allowing deduction u/s.80P of the Income-tax Act, 1961 (hereinafter also called 'the Act') in relation to interest income of Rs. 8,88,884/- earned from Fixed Deposits kept with the Nationalized Ba....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d case, the Tribunal discussed the contrary views expressed by the Hon'ble Karnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 taxmann 309 (Kar.) allowing the deduction u/s. 80P on interest income and the Hon'ble Delhi High Court in Mantola Cooperative Thrift Credit Society Ltd. Vs. CIT (2014) 110 DTR 89 (Delhi) not allowing deduction u/s.80P on interest in....