https://www.taxtmi.com/caselaws?id=204668 The Bombay High Court upheld the ITAT's decision regarding the eligibility of interest income on advance rent received by a cooperative bank for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The Court distinguished the case from precedent, emphasizing the direct connection of the interest income to the banking business activities of the assessee. The judgment dismissed the revenue's appeal, finding no merit in their contentions and awarded no costs. en-us Thu, 21 Jul 2011 00:00:00 +0530 Fri, 29 Jul 2011 22:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204668 The Bombay High Court upheld the ITAT's decision regarding the eligibility of interest income on advance rent received by a cooperative bank for deduction under Section 80P(2)(a)(i) of the Income Tax Act. The Court distinguished the case from precedent, emphasizing the direct connection of the interest income to the banking business activities of the assessee. The judgment dismissed the revenue's appeal, finding no merit in their contentions and awarded no costs. Case-Laws Income Tax Thu, 21 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204668