https://www.taxtmi.com/caselaws?id=326535 The Tribunal allowed the appeal of the assessee, holding that interest income from fixed deposits in nationalized banks qualifies for exemption under section 80P(2)(a)(i) of the Income Tax Act. The Tribunal emphasized that the interest income is attributable to the business of providing credit facilities to members. The disallowance made by the Assessing Officer was deleted, and the Tribunal directed the AO to grant the exemption for the specified amount. en-us Tue, 05 Apr 2016 00:00:00 +0530 Sat, 16 Apr 2016 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326535 The Tribunal allowed the appeal of the assessee, holding that interest income from fixed deposits in nationalized banks qualifies for exemption under section 80P(2)(a)(i) of the Income Tax Act. The Tribunal emphasized that the interest income is attributable to the business of providing credit facilities to members. The disallowance made by the Assessing Officer was deleted, and the Tribunal directed the AO to grant the exemption for the specified amount. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326535