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Showing contexts for: LRDE in Lrde Employees Housing Co-Operative ... vs Income Tax Officer, Ward-4(2)(2), ... on 28 November, 2024Matching Fragments
3. In the original grounds of appeal, the assessee has basically challenged the action of the lower authorities with respect to the disallowance of deduction under section 80P(2)(d) in relation to ITA No.1790 to 1793/Bang/2024 LRDE Employees Housing Co-operative Society Ltd., Bangalore interest income from the cooperative banks. The assessee vide its application for additional ground dated 19.11.2024 has asked for deduction of cost of funds, if the interest income of the assessee is to be taxed under section 57 of the Act.
5. Feeling aggrieved the assessee has come up in appeal before us. Ld. Counsel for the assessee at the outset contended that the additional ground filed by the assessee with respect to the allowing of cost of funds to the assessee in respect of interest income taxed by the lower authorities' u/s 57 of the Act may kindly be granted to the assessee.
6. Ld. D.R. relied upon the orders of authorities below.
ITA No.1790 to 1793/Bang/2024 LRDE Employees Housing Co-operative Society Ltd., Bangalore