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TMI Blog2021 (6) TMI 165X X X X Extracts X X X X X X X X Extracts X X X X ..... high court's decision in The Vavveru Co-operative Rural Bank Ltd [ 2017 (4) TMI 663 - ANDHRA PRADESH HIGH COURT ] and [ 2017 (4) TMI 1548 - ANDHRA PRADESH HIGH COURT] has settled the very issue in assessee's favour and against the department thereby granting Section 80P deduction to a co-operative society qua interest income derived from parking of surplus funds in nationalised banks a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Godara, Member (J) 1. These three Revenue's appeals ITA Nos. 1670, 1671 1672/Hyd/2019 and assessee's cross objections therein, C.O. Nos. 36, 37 38/Hyd/2019, arise from the CIT(A)-Rajamahendravaram's order(s) dated 28-08-2019 in first 29-08-2019 in latter twin assessment years passed in case Nos. 10054, 10095 10065/2018-19/CIT(A)/RJY, in proceedings u/s. 143(3) r.w.s. 263, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore, the CIT(A) has erred in law and on facts in holding it as eligible for Section 80P deduction. 4. We find no substance in the Revenue's argument in view of the fact that the hon'ble jurisdictional high court's decision in The Vavveru Co-operative Rural Bank Ltd. Vs. CIT [ (2017) 396 ITR 371] (AP) and in ITTA No. 669/2016, dt. 12-04-2017 has settled the very issue in assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uish between a public sector and private sector/other banks. He also sought to adopt the reasoning in hon'ble jurisdictional high court's decision hereinabove granting Section 80P relief to the assessee's deposits made in public sector banks. 5.2. We find no merit in the assessee's stand since their lordships said decision applies in an instance of section 80P deduction on inter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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