https://www.taxtmi.com/caselaws?id=181124 The Tribunal upheld the orders of the CIT(A) on all three issues. It affirmed that interest income on surplus funds and NPA provisions are eligible for deduction under section 80P(2)(a)(i) when related to providing credit facilities. Additionally, it found no merit in the disallowance computed under section 14A, as the assessee had not claimed exemption under section 10(38) and had already received deductions under Chapter VIA of the Income Tax Act. The Revenue's appeal was dismissed based on legal precedents and interpretations of the Income Tax Act. en-us Mon, 19 Sep 2011 00:00:00 +0530 Mon, 25 Sep 2017 09:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181124 The Tribunal upheld the orders of the CIT(A) on all three issues. It affirmed that interest income on surplus funds and NPA provisions are eligible for deduction under section 80P(2)(a)(i) when related to providing credit facilities. Additionally, it found no merit in the disallowance computed under section 14A, as the assessee had not claimed exemption under section 10(38) and had already received deductions under Chapter VIA of the Income Tax Act. The Revenue's appeal was dismissed based on legal precedents and interpretations of the Income Tax Act. Case-Laws Income Tax Mon, 19 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181124