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.

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