9911796707
TMI Blog2024 (4) TMI 1251X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER This assessee's appeal for assessment year 2014-15, arises against the National Faceless Appeal Centre [in short the "NFAC"] Delhi's Din and Order No. ITBA/NFAC/S/250/2021- 22/1042287596(1), dated 31.03.2022, involving proceedings u/s. 143(3) of the Income Tax Act, 1961 (in short "the Act"). Heard both the parties. Case file perused. 2. The assessee pleads the following substantiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ciating the fact that the cooperative societies engaged in business in banking are statutorily required to invest its funds in nationalized banks. 4. The appellant craves leave to add, amend, alter, modify, delete any of the grounds." 3. The sole issue herein which arises for the tribunal's apt adjudication herein is that of correctness of both the learned lower authorities action disallowing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest income(s) derived from such nationalized/other bank(s) also qualifies for sec.80P deduction. Faced with this situation, I accept the assessee's instant sole substantive grievance in principle and leave it open for the learned Assessing Officer to finalise his consequential computation in very terms. Ordered accordingly. 5. Delay of 266 days in filing of the instant appeal is condoned as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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