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Showing contexts for: NET compulsory in The Belthangady Co-Operative ... vs Income Tax Officer, Ward-1, , Puttur on 28 January, 2025Matching Fragments
21. Therefore, in view of the above detailed discussion and judicial pronouncements, we in the interest of justice and fair play, are inclined to set aside the issue to the file of the AO for fresh adjudication in the .
ITA No.1927 & 1943/Bang/2024 light of above stated discussion and as per the provisions of law. Before parting, it is important to note that to the extent of interest not derived from compulsory deposits would stand disallowed after netting of the expenses/ interest expenses against such interest income in the manner provided under section 57 of the Act. Hence, the ground of appeal raised by the assessee is hereby allowed for statistical purposes.