- (1.) It is stated that S.L.P. arising out of the judgment of this Court in Commissioner of Income Tax v. Nawanshahar Central Co-operative Bank Ltd. has been dismissed. In the said judgment, the Court held that deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961 (for short 'the Act') on account of interest income on Govt. Securities, Debentures and Bonds,
(2.) Kisan Vikas Patras and C.D. of IDBI was admissible. It was held that investment in the said bonds was statutory investment in accordance with Section 44 of the Punjab Co-operative Societies Act, 1961 and are thus eligible for deduction under Section 80-P(2)(a)(i) of the Act. The view taken by the Tribunal is in accordance with the above judgment of this Court. Accordingly, this appeal is dismissed.;