https://www.taxtmi.com/caselaws?id=182233 The Tribunal upheld the CIT(A)'s decisions in the case, confirming the deletion of disallowances under Sections 80IB and 80P(2)(d) of the Income Tax Act. The Tribunal ruled that separate books of accounts were not required for different undertakings under Section 80IB, and the allocation method used was consistent and acceptable. Regarding Section 80P(2)(d), the Tribunal agreed that the assessee had sufficient interest-free funds for investments in cooperative societies and banks, warranting the deletion of the disallowance. The Tribunal dismissed the revenue's appeal and the assessee's cross-objection, affirming the CIT(A)'s rulings on both issues. en-us Fri, 27 Sep 2013 00:00:00 +0530 Fri, 04 Nov 2016 21:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182233 The Tribunal upheld the CIT(A)'s decisions in the case, confirming the deletion of disallowances under Sections 80IB and 80P(2)(d) of the Income Tax Act. The Tribunal ruled that separate books of accounts were not required for different undertakings under Section 80IB, and the allocation method used was consistent and acceptable. Regarding Section 80P(2)(d), the Tribunal agreed that the assessee had sufficient interest-free funds for investments in cooperative societies and banks, warranting the deletion of the disallowance. The Tribunal dismissed the revenue's appeal and the assessee's cross-objection, affirming the CIT(A)'s rulings on both issues. Case-Laws Income Tax Fri, 27 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182233