Income Tax Appeal: Interest income eligibility for deduction under section 80P(2)(d) upheld by Punjab & Haryana High Court The High Court of Punjab and Haryana upheld the Income Tax Appellate Tribunal's decision on the eligibility of interest income for deduction under section ...
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Income Tax Appeal: Interest income eligibility for deduction under section 80P(2)(d) upheld by Punjab & Haryana High Court
The High Court of Punjab and Haryana upheld the Income Tax Appellate Tribunal's decision on the eligibility of interest income for deduction under section 80P(2)(d) of the Income Tax Act, 1961. The court ruled in favor of the respondent, stating that the revenue's question was appropriately addressed in previous judgments and did not warrant further consideration.
The High Court of Punjab and Haryana upheld the Income Tax Appellate Tribunal's decision regarding the eligibility of interest income for deduction under section 80P(2)(d) of the Income Tax Act, 1961. The court found that the question raised by the revenue was rightly answered against them, citing relevant judgments. The court concluded that no case was made out for referring the question as it had already been answered.
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