2022 (6) TMI 816

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....r the Revenue : Shri Abhimanyu Singh Yadav, Sr. DR ORDER PER P.M. JAGTAP, VICE-PRESIDENT: In this case, the appeal filed by the assessee was earlier disposed of by the Tribunal vide its order dated 14.12.2021 wherein the issue raised in Ground Nos. 3-5 relating to the assessee's claim for deduction under Section 80P(2) of the Income-tax Act, 1961 ("the Act" in short) in respect of interes....

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....e and accepting the same, the Tribunal allowed the Miscellaneous Application of the assessee vide order dated 13.04.2022 whereby the order of the Tribunal dated 14.12.2021 was recalled by the Tribunal for the limited purpose of fresh adjudication of Ground Nos. 3 to 5. 2. We have heard the arguments of both the sides on the issue raised in Ground Nos. 3 to 5 of the assessee's appeal relating to....

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....-operative society, is not deductible under Section 80P(2)(d) of the Act. In the present case, the amount of interest in question was earned by the assessee from co-operative banks and this being the undisputed position, we hold, following the decision of the Hon'ble jurisdictional High Court in the case of State Bank of India (supra), that the said interest income is eligible for deduction under ....