https://www.taxtmi.com/caselaws?id=181789 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision, confirming that interest income from fixed deposits with a cooperative bank was exempt under Section 80P(2)(d). The ITAT held that the interest income was attributable to the business of providing credit facilities, making it eligible for deduction under Section 80P(2)(a)(i). The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order that the interest and dividend income were part of the assessee's business income and eligible for deduction under Section 80P. en-us Fri, 19 Dec 2014 00:00:00 +0530 Mon, 25 Apr 2016 12:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181789 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision, confirming that interest income from fixed deposits with a cooperative bank was exempt under Section 80P(2)(d). The ITAT held that the interest income was attributable to the business of providing credit facilities, making it eligible for deduction under Section 80P(2)(a)(i). The ITAT dismissed the Revenue's appeal, upholding the CIT(A)'s order that the interest and dividend income were part of the assessee's business income and eligible for deduction under Section 80P. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181789