M/S. NEDUMATTOM SERVICE CO-OP BANK LTD,IDUKKI vs. THE ITO, THODUPIZHA
In the result, the appeal filed by the assessee is allowed
ITA 189/COCH/2021[2015-16]Status: DisposedITAT Cochin27 Jun 2022AY 2015-16
Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am
For Appellant: Sri.Arun Raj, AdvocateFor Respondent: Smt.J.M.Jamunna Devi, Sr.DR
Section 142(1)Section 143(3)Section 2(19)Section 263Section 80Section 80PSection 80P(2)(d)
revise the assessment order for the reason that out of the total interest earned by the assessee-society, a sum of Rs.52,37,702 is interest income on investment with M/s.Idukki District Co-operative Bank Limited. According to the PCIT, as per section 80P(2)(d) of the I.T.Act, interest /
dividend received from investment with co-operative societies alone would