Computation of deduction u/s 36(1)(viii) of Income Tax – Housing Finance Company

ACIT Vs PNB Housing Finance Ltd. (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), New Delhi bench consisting of Anil Chaturvedi, Accountant Member and Narender Kumar Choudhary, Judicial Member granted relief to Punjab National Bank Housing Finance Limited and Confirmed the order of Commissioner of Income Tax of computing rebate under Section 36(1)(viii). The assessee, Punjab National Bank Housing Finance Limited is an approved housing finance company and a subsidiary company of Punjab National Bank. Assessee filed its original return of income for A.Y. 2016-17 on 29.11.2016 declaring total i...