2016 (10) TMI 1262

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....T : SRI.P.K.R.MENON,SR.COUNSEL, GOI (TAXES) JUDGMENT Thottathil B.Radhakrishnan, J. 1.We have heard the learned counsel for the appellants/assessees and the learned Senior standing counsel for the Income Tax Department, in all the three appeals. 2.Learned counsel for the appellants submits that the issue relatable to the applicability of Section 80P of the Income Tax Act, 1961 to the appel....

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....s income from other sources, we are of the view that it is necessary that the Tribunal re-considers all the issues arising for decision in these appeals, in particular, the applicability of circular No.18/2015 dated 02.11.2015 and the question of applicability of the ratio of the decision in Chirakkal Service Co-operative Bank Limited (supra) as to the effect of Section 80P of the Income Tax Act o....