2018 (2) TMI 1753

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..... T] wherein held that interest earned from investment made in any bank is not deductible under section 80P(2)(d). In this view of the matter, we dismiss the appeal of the assessee. However, any expenditure incurred by the assessee for earning such income could be allowed to it. In other words, the ld.AO has to determine the net interest income earned by the assessee on such investment with bank .....

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..... airly conceded that issue in dispute is squarely covered against the assessee by decision of the Hon ble jurisdictional High Court in the case of State Bank of India Vs. CIT, 389 ITR 578 wherein Hon ble Court held that interest earned from investment made in any bank is not deductible under section 80P(2)(d). In this view of the matter, we dismiss the appeal of the assessee. However, any expenditu .....

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