INCOME TAX OFFICER, WARD-1, UDUPI vs. KAMBADAKONE RYTARA SEVA SAHAKARI SANGHA LTD, UPPUNDA

194A(3)(v) has been so amended, section\n80P(2)(d) has not been amended to include co-operative\nbanks explicitly.\n6.\nThe CIT(A) erred in non appreciating/neglecting the fact that\nthe character or nature of interest income received on the\ninvestment or deposits from a scheduled bank or co-\noperative banks is the same

ACIT, HUBLI vs. KARNATAKA VIKAS GRAMEEN BANK, DHARWAD

In the result, the appeal by the assessee is treated as partly allowed for statistical purpose

Bench: Shri N.V Vasudevan & Shri Jason P Boaz

viia) of the Act is restored and the relief allowed by the CIT(A) is held to be not correct. 25. The Ground Nos. 2 to 3 are accordingly allowed. 26. Ground Nos. 4 and 5 raised by the Revenue reads as follows:- “4. Whether on facts & circumstances of the case, is the 01(A) correct in deleting addition