Section 80P(2)(a) deduction not eligible on Income from house property

ITO Vs Hosdurg Service Cooperative Bank Limited (ITAT Cochin) The CIT(A) had held rental income received by the assessee was not entitled to deduction u/s 80P(2) of the I.T.Act. The relevant finding of the CIT(A) reads as follows:- “The appellant derived rental income amounting to Rs.24,400/- in A.Y. 2007-08, Rs.21,950/- in A.Y. 2008-09, Rs.16,700/- in A.Y. 2009-10, Rs.28,550/-in A.Y. 2012-13 and Rs.15,200/- in A.Y. 2013-14. These amounts are not eligible for deduction under section 80P and hence, may be dealt with in accordance with the provisions of Income Tax Act, 1961.” 12.2 The assess...