https://www.taxtmi.com/caselaws?id=188572 The Tribunal allowed the appellant's appeal for reconsideration by the Assessing Officer regarding the nature of interest income and deduction eligibility under Section 80P(2)(a)(vi) of the Income Tax Act, 1961. The Tribunal set aside the CIT(A)'s order and directed reevaluation based on the purpose of the FDs. The Revenue's appeal against the penalty under Section 271(1)(c) was dismissed as the penalty was deemed unsustainable after remand for reassessment by the Assessing Officer. en-us Fri, 31 May 2013 00:00:00 +0530 Tue, 06 Dec 2016 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188572 The Tribunal allowed the appellant's appeal for reconsideration by the Assessing Officer regarding the nature of interest income and deduction eligibility under Section 80P(2)(a)(vi) of the Income Tax Act, 1961. The Tribunal set aside the CIT(A)'s order and directed reevaluation based on the purpose of the FDs. The Revenue's appeal against the penalty under Section 271(1)(c) was dismissed as the penalty was deemed unsustainable after remand for reassessment by the Assessing Officer. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188572