justified in upholding the disallowance of
deduction claimed under section 80P of the Income Tax Act, 1961 and that too
under section ... come by c lai ming
deduction u/s 80P of Rs.1,11,421/-.
3.1 Th e said return was processed
erred in confirming the disallowance of the deduction
under section 80P(2)(d) of the Act, in respect of interest income
aggregating ... deposits placed with Co-operative Banks, relying on the provisions
of section 80P(4) of the Act."
3. The issue raised by the assessee
when the business income of assessee
bank was totally exempt u/s 80P of I.T. Act, 1961 amounts to cessation
of those liabilities ... business. The income
of assessee co-operative Bank was exempt u/s 80P(2) of I.T. Act, 61 in
all the earlier year
learned CIT(A) erred in rejecting the claim of deduction under Section 80P of the Act in respect of Rs. 37,79,100 being profit ... incomes which are not eligible for deduction under Section 80P of the Act."
As all these grounds of appeal are interlinked, we will take
confirming the disallowance of deduction claimed u/s 80P of the
I.T. Act of Rs.2,08,70,799.
4. Brief facts ... assessee. He therefore, disallowed the claim of deduction u/s 80P
of the Act and brought the entire amount to tax. Aggrieved, the
assessee preferred
appellant is duly entitled to deduction in
terms of s ec 80P( 2)(a)(i) of the Act.
4. Because ... appreciate
that the rev enu e has allowed deduction u/s 80P under
same facts and circumstances and as such principle o f
consistency
being a Co-
operative Society is entitled to claim deduction u/s. 80P of the Act. The Pr.
3
ITA No. 1911/PUN/2018 ... Further, he
referred to page 81 regarding the claim made u/s. 80P of the Act for an
extent
allowing the deduction
claimed by the assessee u/s. 80P of the Act, there was an additional ground of
Cross Objection ... income from other sources, thereby denying the claim of deduction
under section 80P(2)(a) (i) and section 80P
assessee urged that the income from cold storage was exempt under Section 80P of the Income ... accept this contention. He held that exemption under Section 80P is allowable in respect of income derived by the society from letting of godowns
holding that the assessee is not entitled to the relief under section 80P (2) (a) (iii) of the Income-tax Act, 1961 ?"
The assessment ... society sold after the centrifugal method is exempt under section 80P (2) (a) (iii) of the Income-tax Act, 1961. The Income-tax Officer declined
