https://www.taxtmi.com/caselaws?id=209131 The Tribunal held that the deduction under Section 80P(2)(d) of the Income Tax Act should be computed on the net income after deducting expenses attributable to earning interest income from member co-operative societies. It directed the reworking of interest and head office expenses based on the proportion of eligible interest income to total business receipts. The CIT(A)'s order was set aside, and the AO was instructed to recalculate the deduction accordingly for the assessment years in question, resulting in the Revenue's appeals being partly allowed. en-us Fri, 29 Jan 2010 00:00:00 +0530 Tue, 30 Jul 2013 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209131 The Tribunal held that the deduction under Section 80P(2)(d) of the Income Tax Act should be computed on the net income after deducting expenses attributable to earning interest income from member co-operative societies. It directed the reworking of interest and head office expenses based on the proportion of eligible interest income to total business receipts. The CIT(A)'s order was set aside, and the AO was instructed to recalculate the deduction accordingly for the assessment years in question, resulting in the Revenue's appeals being partly allowed. Case-Laws Income Tax Fri, 29 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209131