2018 (8) TMI 2171

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.... PER WASEEM AHMED, ACCOUNTANT MEMBER: The captioned appeal has been filed at the instance of the Assessee against the order of the Commissioner of Income Tax(Appeals)-4, Vadodara [CIT(A) in short] vide appeal no.CAB/4-512/2015-16 dated 30.09.2016 arising in the matter of assessment order passed under s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as "the Act") dated 22.01.2016 re....

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....necessary on or before the final hearing of appeal. Relief claim in appeal : It is therefore prayed that the addition upheld by CIT (A) may kindly be deleted and deduction u/s 80P(2)(a)(i) of the act be allowed now for the interest income of the society without distinguishing the activity in to two parts. Additional Grounds: 1. Without prejudice to the other grounds, the Ld CIT(A) has ....

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....mbly requested to kindly permit the above additional grounds as per Income Tax Appellate Tribunal Rules and oblige." 3. The solitary issue involved in all the grounds of appeals relates to whether interest income earned on fixed deposits with the nationalized bank would qualify for deduction under section 80P(2)(a)(i) of the Income Tax Act.  4. At the outset, the learned counsel for the as....