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TMI Blog2018 (6) TMI 1576X X X X Extracts X X X X X X X X Extracts X X X X ..... also entitled to the deduction - HELD THAT:- Considering the principle of parity with that of Electricity Commission and Bank Interest as such, there are no case laws filed by the assessee in respect of his claim for deduction in these receipts, nobody has examined the principle of parity as claimed by the assessee. The issues of MSEB Deposit Interest and Advertisement Income are set-aside to the file of AO with a direction to verify the nexus and admissibility of the claim of assessee in the light of above cited decisions by the assessee and adjudicate the same afresh. AO shall afford reasonable opportunity of hearing to the assessee while deciding the issues. Appeal of the assessee is partly allowed for statistical purposes. - ITA No.118 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. Aggrieved with the order of CIT(A), the assessee has filed the present appeal before the Tribunal with the following grounds : 1. In the facts, circumstances and in law, the learned AO as well as CIT(A)-2 erred in assessing following income under the head Income from Other Sources‟ as against shown under the head Income from Business‟ while filing Income-tax Return. a) Electricity Commission Rs.2,23,860 b) Bank Interest ₹ 14,127 c) MSEB Deposit Interest ₹ 44,486 d) Advertisement Income ₹ 13,000 Total Rs.2,95,473 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the learned Counsel for assessee and the learned Departmental Representative for the Revenue, it transpires that similar issue of Electricity Commission arose before the Tribunal in the case of Banganga Nagri Sahakari Patsanstha Ltd. Vs. ITO (supra), wherein it was held as under:- 10. We have carefully considered the rival submissions, orders of the authorities below and case law cited. The short question before us is to determine eligibility of deduction under section 80P of the Act in respect of income earned from certain allied activities viz. (i) Locker Rent; (ii) Ambulance Rent; (iii) Commission on Collection of MSEB bills; and (iv) Health Club by cooperative credit society carrying on banking business. The alternate ground agitat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... activity would be entitled to relief made residuary clause of section 80P(2)(c)(ii). We also notice that the Income from MSEB commission is held to be business activity as per decision cited by the assessee in the case of Ahmednagar District Co-operative Bank Ltd. (supra) and other decisions noted above. Accordingly, we hold that the assessee is entitled to relief under section 80P as per law .. 11. The issue of Electricity Commission arising in the present appeal is similar to the issue before the Tribunal and following the same parity of reasoning, this issue is decided in favour of assessee. Accordingly, relevant ground is allowed. 12. The issue of Bank Interest has already been settled by the Apex Court in the case of CIT Vs. Naw ..... X X X X Extracts X X X X X X X X Extracts X X X X
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