2023 (11) TMI 1212

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....d by the Assessee against order dated 11.05.2023 passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi for the Assessment Year 2018-19. 2. The Assessee has raised the following grounds of appeal :- "1. The learned CIT(A)-11, Ahmedabad, has erred in law and on facts in upholding the disallowance made by the AO of the claim u/s. 80P(2)(d) of the Act, of Rs.2,03,169/- thereby dismiss....

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....0P of the Income Tax Act, 1961 in respect of receipt of interest of Rs.2,03,169/- from S. K. District Co-op. Bank Ltd. After taking cognizance of the assessee's reply, disallowed deduction u/s. 80P(2)(d) of the Act. 4. Being aggrieved by the Assessment Order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The Ld. AR submitted that the Assessing O....

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....sion of the Hon'ble Gujarat High Court in case of CIT vs. Sabarkantha Dist. Coop. Milk Producers' Union Ltd. (Tax Appeal No.473 of 2014 order dated 16.06.2014). 6. The Ld. DR relied upon the Assessment Order and the order of the CIT(A). The Ld. DR further submitted that interest earned from District Co-operative Banks cannot be treated at par with the business income of the assessee as it forms i....