2021 (6) TMI 165

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....u, Member (A) For the Appellant : Sunil Kumar Pandey, DR For the Respondents : A.V. Raghuram, AR ORDER S.S. Godara, Member (J) 1. These three Revenue's appeals ITA Nos. 1670, 1671 & 1672/Hyd/2019 and assessee's cross objections therein, C.O. Nos. 36, 37 & 38/Hyd/2019, arise from the CIT(A)-Rajamahendravaram's order(s) dated 28-08-2019 in first & 29-08-2019 in latter twin....

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....s that the impugned interest income had not been derived from its core activity involving its members and therefore, the CIT(A) has erred in law and on facts in holding it as eligible for Section 80P deduction. 4. We find no substance in the Revenue's argument in view of the fact that the hon'ble jurisdictional high court's decision in The Vavveru Co-operative Rural Bank Ltd. Vs. CI....

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....ntative made a very strong endeavour to pinpoint the fact that the Banking Regulation law does not distinguish between a public sector and private sector/other banks. He also sought to adopt the reasoning in hon'ble jurisdictional high court's decision hereinabove granting Section 80P relief to the assessee's deposits made in public sector banks. 5.2. We find no merit in the assesse....