IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. ITA No. 80 of 2010 Date of Decision: February 18, 2010 The Commissioner of Income Tax, Jalandhar …Appellant Versus M/s The Bholath Primary Co-op. Agricultural Development Bank Ltd., Kapurthala …Respondent CORAM: HON'BLE MR. JUSTICE M.M. KUMAR HON’BLE MR. JUSTICE JITENDRA CHAUHAN Present: Mr. Vivek Sethi, Advocate, for the appellant-revenue. 1. To be referred to the Reporters or not? 2. Whether the judgment should be reported in the Digest? M.M. KUMAR, J. This appeal filed under Section 260A of the Income-tax Act, 1961 (for brevity, ‘the Act’) challenges orders dated 9.7.2009, passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (for brevity, ‘the Tribunal’) in ITA No. 308(ASR)/2009, in respect of Assessment Year 2004-05. Having heard learned counsel for the appellant-revenue and perus- ing the paper book with his able assistance, we found that the matter is no longer res integra. This Court in the case of Commissioner of Income Tax v. Nawanshahar Central Co-operative Bank Ltd., [2003] 263 ITR 320, has held that deduction under Section 80P(2)(a)(i) of the Act, on account of interest income on Government securities, debentures, bonds, Kisan Vikas Patras and C.D. of IDBI was admissible. The investment in the said bonds has been held to be statutory investment in accordance with Section 44 of the Punjab Co-op- ITA No. 80 of 2010 erative Societies Act, 1961 and, thus, eligible for deduction under Section 80P (2)(a)(i) of the Act. The view taken by the Tribunal is in accordance with the above judgment of this Court. It is also conceded position that the Special Leave Petition against the aforementioned judgment of this Court, has been dis- missed by Hon’ble the Supreme Court. Moreover, a Division Bench of this Court has already dismissed similar appeals, bearing ITA No. 314 of 2005, on 1.8.2006, ITA Nos. 594, 595 and 596 of 2009, dismissed on 2.2.2010 and ITA Nos. 82 and 83 of 2010, dismissed on 16.2.2010, which were filed by the appel- lant-revenue. Accordingly, this appeal fails and the same is dismissed. (M.M. KUMAR) JUDGE (JITENDRA CHAUHAN) February 18, 2010 JUDGE Pkapoor 2