THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. PEROORKADA SERVICE CO-OPERATIVE BANK LTD

Appeals are allowed as indicated above

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI

vi) Whether on the facts and in the circumstances of the case, the order of the ITAT is correct in not duly considering ITA Nos.142 & 323/2019; 5/2020 -9- that the interest income earned from deposits with banks cannot be attributable as profit and gains from the business of providing credit facilities to its members u/s80P(2

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. VILAPPIL SERVICE CO-OPERATIVE BANK LTD.,

Appeals are allowed as indicated above