2019 (1) TMI 2066

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....he Respondent : Shri Pramod Shingte. ORDER PER R.S. SYAL, VP : This appeal by the Revenue arises out of the order passed by the CIT(A)-1, Nashik on 04-11-2016 in relation to the assessment year 2013-14. 2. The only issue raised in this appeal is against not allowing deduction u/s. 80P(2)(a)(i) of the Income-tax Act, 1961 (hereinafter also called as 'the Act') on interest income of Rs.&....

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....ch of the Tribunal in the case of Shri Laxmi Narayan Nagari Sahakari Pat Sanstha Maryadit Vs. ITO (ITA No. 604/PN/2014) has allowed deduction u/s 80P of the Act in similar circumstances vide its order dated 19-08-2015. In that case, the Pune Bench discussed the contrary views expressed by the Hon'ble Karnataka High Court in Tumkur Merchants Souharda Credit Cooperative Ltd. Vs. ITO (2015) 230 ....