https://www.taxtmi.com/caselaws?id=185884 The Court ruled in favor of the assessee co-operative society, allowing deductions on the entire interest received from the co-operative bank under Section 80P(2)(d) for the relevant assessment years. The Court emphasized consistency in tax assessments and held that deductions should be based on gross interest rather than net interest. The Tribunal's decision was overturned, granting the assessee the benefit of deduction as in previous years. The Court referred to various judgments supporting gross interest deductions and concluded in favor of the assessee, setting aside the Tribunal's order. en-us Tue, 12 Jul 2016 00:00:00 +0530 Wed, 19 Feb 2020 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185884 The Court ruled in favor of the assessee co-operative society, allowing deductions on the entire interest received from the co-operative bank under Section 80P(2)(d) for the relevant assessment years. The Court emphasized consistency in tax assessments and held that deductions should be based on gross interest rather than net interest. The Tribunal's decision was overturned, granting the assessee the benefit of deduction as in previous years. The Court referred to various judgments supporting gross interest deductions and concluded in favor of the assessee, setting aside the Tribunal's order. Case-Laws Income Tax Tue, 12 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185884