2025 (10) TMI 29

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....: Shri Jaikrishna, CA For the Respondent : Smt. Leena Lal, Sr. D.R. ORDER PER: INTURI RAMA RAO, AM This appeal filed by the assessee is directed against the orders of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 03.06.2024 & 12.07.2024 for Assessment Years (AYs) 2015-16 & 2017-18, respectively. 2. Brief facts of the case are that appellant is a co-operative society registered u....

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.... of the AO. 4. Being aggrieved, the appellant is in appeal before the Tribunal vide these appeals. 5. We have heard the rival contentions of both the parties and perused the material available on record. 6. We notice that the issue related to interest income received on fixed deposit with KDC stands adjudicated by Hon'ble Jurisdictional High Court's decision in the case of PCIT v. Peroorkad....

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....st income earned from District Co-operative Bank/State Co-operative Bank, in the facts and circumstances of the case, do come within Section 80P(2)(d). Therefore, the income constitutes income from other sources and the only eligible deduction is covered by Section 80P(2)(d) viz. Interest or dividend derived by the assessee from its investments with any other Co-operative Society. The source of in....