2025 (8) TMI 1494

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....Mahadeokar, Accountant Member For The Assessee : Shri Ketan H. Shah, A.R. For The Revenue : Shri Nitin Vishnu Kulkarni, Sr. DR ORDER This appeal is filed by the assessee against order dated 24.07.2024 passed by the CIT(A), National Faceless Appeal Centre (NFAC), Delhi for the Assessment Year 2017-18. 2. The assessee has raised the following ground of appeal :- "The Lower Au....

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....x Act, 1961. The return was processed under Section 143(1) of the Act and the case was selected for limited scrutiny. Notice under Section 143(2) of the Act dated 09.08.2018 was issued and thereafter notice under Section 142(1) of the Act was issued on 15.03.2019. In response to the above notices, the assessee filed submissions from time to time. The Assessing Officer observed that during the year....

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.... has claimed deduction under Section 80P(2)(d) of the Act relating to amount of dividend from Co-operative Institutions amounting to Rs 13,67,025/- and interest received from Mehsana District Co-operative Bank Limited amounting to Rs. 28,45,327/-. The ld. AR submitted that out of this interest income, the assessee has rightly claimed interest received from Mehsana District Co-operative Bank Limite....

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....already considered this issue and relied upon the same as well as the Assessment Order and the order of the CIT(A). 7. We have heard both the parties and perused all the relevant material available on record. It is pertinent to note that the component of Rs. 13,67,025/- is the amount of dividend received from Co-operative Institution and interest received from Mehsana District Co-operative Bank....