THE PUNJAB STATE COOPERATIVE MILK PRODUCERS FEDERATION LTD.,CHANDIGARH vs. ACIT, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, ground no. 2 of assessee’s appeal in ITA No

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

section 14A r.w.r.8D in respect of interest income received by the assessee from other co-operative societies which is wholly deductible u/s 80P(2)(d) of the Act particularly considering the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Kribhco (2012) 349 ITR 618 (Delhi) wherein it was held that no disallowance could