2025 (6) TMI 1983

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....esh B. Budruk ORDER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : The captioned appeal at the instance of assessee pertaining to A.Y. 2018-19 is directed against the order dated 21.11.2024 framed by National Faceless Appeal Centre, Delhi arising out of Assessment Order dated 03.03.2021 passed u/s.143(3) r.w.s.143(3A) and 143(3B) of the Income-tax Act, 1961 (in short 'the Act'). 2. When the....

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.... namely Sangli District Central Coop Bank. Assessing Officer denied the said claim. Assessee preferred appeal before the ld.CIT(A) and the ld.CIT(A) affirmed the action of the Assessing Officer. 5. Now the assessee is in appeal before this Tribunal 6. We have heard the ld. Departmental Representative and perused the record placed before us. Assessee has been denied benefit of section 80P(2)(....

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....th Cooperative Banks treating the same as Income from Other Source. Ld.CIT(A) dismissed the appeal in limine without discussing anything on merits of the issues and on the ground that the assessee has not provided plausible explanation for admission of additional evidences. 8. Section 80P(2)(d) of the Act provides that the sum received in respect of any income by way of interest or divide....

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.... dated 27.05.2022 has held that the interest earned from deposits with Cooperative Banks are also eligible for deduction u/s.80P(2)(d) of the Act as Cooperative Banks are basically Cooperative Societies only but have turned into Bank on getting necessary banking license. 9. Respectfully following the above referred decisions taking consistent view along with considering the facts of the c....