2025 (8) TMI 876

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....ANT MEMBER : The captioned appeal pertaining to Assessment Year 2018-19 at the instance of assessee is directed against the order dated 15.10.2024 passed by National Faceless Appeal Centre, Delhi u/s.250 of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') which in turn is arising out of Assessment Order dated 08.04.2021 passed u/s.143(3) r.w.s.143(3A) & 143(3B) of the Act. 2. ....

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.... u/s.80P(2)(d) of the Act. Thus, he brought to tax the said interest income disallowing the deduction u/s.80P(2)(d) claimed by the assessee. 3. Aggrieved assessee preferred appeal before the ld.CIT(A) who vide impugned order affirmed the action of the Assessing Officer. 4. Now the assessee is in appeal before the Tribunal. 5. When the case was called for, none appeared on behalf of the as....

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....erative Society, the whole of such income is eligible for deduction u/s.80P of the Act. I find that this issue is no more res integra as the Coordinate Benches of this Tribunal has been consistently holding that the interest income earned out of the FDs/Investments kept with Cooperative Banks is allowable u/s.80P(2)(d) of the Act. I find that this Tribunal in case of Kolhapur District Central Co-o....