Search: disallowance

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Section 1545 Section 143(1)2 Section 143(3)2

DCIT AKOLA CIRCLE, AKOLA, AKOLA vs. THE AKOLA JANATA COMMERCIAL CO-OPERATIVE BANK LTD., AKOLA

In the result, Revenue’s appeal is dismissed

ITA 189/NAG/2025[2020-21]Status: DisposedITAT Nagpur22 Sept 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry & Shri K.M. Roy, Accountant, Member

For Appellant: Shri S.G. GandhiFor Respondent: Shri Pankaj Kumar

Section 143(1)Section 143(3)Section 147Section 154

disallowed claim of deduction of interest income of Rs.42,57,3487- from Co-operative Bank u/s 80P(2)(d) of the Act as Co-operative bank is not a Co-operative Society. I find force in the arguments of the appellant and draw strength from various judicial pronouncements of the jurisdiction at ITAT like The Nutan Laxmi Chs Ltd, Mumbai