During relevant year assessee earned interest income on FDRs and deposits kept with non-member co-operative banks and commercial banks and claimed deduction.  Assessing Officer held that interest earned from fixed deposits out of surplus funds was not eligible for deduction under section 80P(2)(a)(i) of the Act.  Tribunal held that provision does not make any distinction in regard to source of investment, revenue is not required to look to nature of investment whether it is from surplus funds or otherwise hence the  assessee is eligible for deduction under section 80P(2)(d) of the Act. (AY. 2012-13 to 2014-15)