https://www.taxtmi.com/caselaws?id=206156 The High Court upheld the Tribunal's decision in a tax case appeal, confirming that rectification under Section 154 was applicable based on a Supreme Court judgment. The Court also ruled that interest earned on investments by the co-operative society qualified for deduction under Section 80P(2)(a)(ii) as it was linked to business exigencies, emphasizing the wider interpretation of 'attributable to' in income sources. The judgment emphasized the significance of business compulsion in investments for claiming deductions and clarified the distinction between income sources in co-operative societies' cases. en-us Mon, 22 Aug 2011 00:00:00 +0530 Fri, 14 Oct 2011 22:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206156 The High Court upheld the Tribunal's decision in a tax case appeal, confirming that rectification under Section 154 was applicable based on a Supreme Court judgment. The Court also ruled that interest earned on investments by the co-operative society qualified for deduction under Section 80P(2)(a)(ii) as it was linked to business exigencies, emphasizing the wider interpretation of 'attributable to' in income sources. The judgment emphasized the significance of business compulsion in investments for claiming deductions and clarified the distinction between income sources in co-operative societies' cases. Case-Laws Income Tax Mon, 22 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206156