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The assessee filed return of income for AY 2014-15 on 19.03.2015 declaring total income of Rs. Nil. The assessment under section 143(3) of the I.T. Act was completed on 27.12.2016 disallowing the claim under section 8OP of the Act on the income from business and also disallowing deduction under section 80P(2)(d) on the interest income received from Thiruvananthapuram District Cooperative Bank Ltd.

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Sec. 80P(2)(d) of Income Tax Act, 1961— Deduction —KARAKULAM SERVICE COOPERATIVE BANK LTD. vs. ITO.[2020] 25 ITCD Online 042 (ITAT-COCHIN)

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