H U Gugale Nagari Sahkari Patsanstha Maryadit, Ahmednagar, Ahmednagar V. Income Tax Officer, Ward-2, Ahmednagar, Ahmednagar

ITA 1110/PUN/2023

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 4669 (ITAT-PUNE)
• Duration Of Justice: 1 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: misc
• Appeal Filed On: 19-10-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH, ‘A’ PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.1110/PUN/2023 नधा रण वष / Assessment Year : 2020-21 HU Gugale Nagari Sahkari Patsanstha Maryadit, At post Jamkhed, Beed Road, Dist. Ahmednagar-413201 PAN : AAAAH6035P Vs. ITO, Ward-2, Ahmednagar Appellant Respondent आदेश / ORDER PER R.S. SYAL, VP : This appeal by the assessee is directed against the order dated 10-10-2023 passed by the CIT(A) in National Faceless Appeal Centre (NFAC), Delhi in relation to the Assessment Year 2020-21. 2. The only issue raised in this appeal is against the denial of deduction u/s.80P in respect of interest income earned from Cooperative Societies/Nationalized Banks. 3. We have heard both the sides and gone through the relevant material on record. At the outset, the ld. AR submitted Assessee by Shri Prasad S. Bhandari Revenue by Shri Ramnath P. Murkunde Date of hearing 14-12-2023 Date of pronouncement 14-12-2023 ITA No.1110/PUN/2023 HU Gugale Nagari Sah. Patsanstha Maryadit 2 that similar issue came up for consideration before the Tribunal (ITA No.218/PUN/2023) in assessee’s own case for the A.Y. 2018-19. A copy of the Tribunal order dt. 18-04-2023 deciding this issue in favour of the assessee is available on record. The ld. DR fairly admitted the factual position so stated. In view of the rival but concurring arguments, we, respectfully following the precedent, allow the deduction u/s.80P in respect of interest income in dispute. 4. In the result, the appeal is allowed. Order pronounced in the Open Court on 14 th December, 2023. Sd/- Sd/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; िदनांक Dated : 14 th December, 2023 सतीश आदेश की ितिलिप अ ेिषत/Copy of the Order is forwarded to: 1. अपीलाथ / The Appellant; 2. थ / The respondent 3. The CIT concerned 4. DR, ITAT, ‘A’ Bench, Pune 5. गाड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune ITA No.1110/PUN/2023 HU Gugale Nagari Sah. Patsanstha Maryadit 3 Date 1. Draft dictated on 14-12-2023 Sr.PS 2. Draft placed before author 14-12-2023 Sr.PS 3. Draft proposed & placed before the second member JM 4. Draft discussed/approved by Second Member. JM 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *