2011 (3) TMI 1712

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..... venue against the order of the CIT(A)-I Nasik dated 10-12-2010 for A.Y. 2007-08. The only ground raised by the revenue in this appeal reads as under: "On the facts and in the circumstances of the case, the learned CIT(A) is not justified in holding that the assessee is entitled to deduction u/s 80P(2)(a)(vi) when in fact it is a Dist. Federation of Labour Co-op. Societies and the income earned b .....

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..... t. The Assessing Officer disallowed the entire deduction u/s 80P(2)(a)(vi) of the Act and recomputed the deduction u/s 80P(2)(d) of the Act in respect of bank interest by apportioning certain expenses against such income. The Assessing Officer therefore, allowed only basic deduction of ₹ 50,000/- u/s 80P(2)(c) of the Act and reduced deduction of ₹ 14,38,944/- u/s 80P(2)(d) of the Act i .....

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..... e orders of the CIT(A) in allowing the claim of assessee. Nothing contrary was sbrought to our knowledge on behalf of revenue. We are therefore, of the opinion that the CIT(A) was justified in directing the Assessing Officer to allow the claim of the assessee. This view is fortified by the judgment of Hon'ble Supreme Court in the case of Kerala State Co-operative Marketing Federation Ltd & Others .....

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