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2024 (5) TMI 89 - ITAT NAGPURDeduction u/s 80P - interest income(s) realized from parking of alleged surplus funds in nationalized bank(s)/similar institution(s) involving varying sums - HELD THAT:- We find in this factual backdrop that this tribunal’s learned co-ordinate bench’s order in Rena Sahakari Sakhar Karkhana Ltd. vs. PCIT’s [2022 (1) TMI 419 - ITAT PUNE] has settled the issue regarding the former limb of interest income derived from cooperative bank(s) etc., in assessee’s favour The outcome would be hardly any different qua the latter limb of interest income(s) from public sector bank(s) in light of The Vaveru Co-operative Rural Bank Ltd. [2017 (4) TMI 663 - ANDHRA PRADESH HIGH COURT] that interest income(s) derived from such nationalized/other bank(s) also qualifies for Sec. 80P deduction. We thus reject the Revenue’s vehement arguments qua the assessee’s sole substantive grievance in very terms.
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